BCHI vs. HEEM

Last updated Jun 23, 2026

BCHI (GMO Beyond China ETF) and HEEM (iShares Currency Hedged MSCI Emerging Markets ETF) are both Emerging Markets Diversified funds. BCHI is actively managed, while HEEM is passively managed. Over the past year, BCHI returned 64.74% vs 65.45% for HEEM. Their correlation of 0.81 suggests significant overlap in exposure. BCHI charges 0.65%/yr vs 0.72%/yr for HEEM.

Performance

BCHI vs. HEEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GMO Beyond China ETF (BCHI) and iShares Currency Hedged MSCI Emerging Markets ETF (HEEM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BCHI achieves a 35.93% return, which is significantly higher than HEEM's 33.26% return.

BCHI

• 1D: -0.82%
• 1M: 6.18%
• YTD: 35.93%
• 6M: 37.59%
• 1Y: 64.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HEEM

• 1D: 0.46%
• 1M: 9.01%
• YTD: 33.26%
• 6M: 34.02%
• 1Y: 65.45%
• 3Y*: 28.15%
• 5Y*: 11.19%
• 10Y*: 11.96%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BCHI vs. HEEM - Yearly Performance Comparison

	2026 (YTD)	2025
BCHI GMO Beyond China ETF	35.93%	26.33%
HEEM iShares Currency Hedged MSCI Emerging Markets ETF	33.26%	28.45%

Correlation

The correlation between BCHI and HEEM is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (All Time) Calculated using the full available price history since Feb 13, 2025	0.81

The correlation between BCHI and HEEM has been stable across timeframes, ranging from 0.81 to 0.83 - a consistent structural relationship.

Return for Risk

BCHI vs. HEEM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BCHI

BCHI Risk / Return Rank: 88
BCHI Sharpe Ratio Rank: 91
BCHI Sortino Ratio Rank: 87
BCHI Omega Ratio Rank: 90
BCHI Calmar Ratio Rank: 86
BCHI Martin Ratio Rank: 87

HEEM

HEEM Risk / Return Rank: 93
HEEM Sharpe Ratio Rank: 94
HEEM Sortino Ratio Rank: 92
HEEM Omega Ratio Rank: 93
HEEM Calmar Ratio Rank: 93
HEEM Martin Ratio Rank: 93

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BCHI vs. HEEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GMO Beyond China ETF (BCHI) and iShares Currency Hedged MSCI Emerging Markets ETF (HEEM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BCHI	HEEM	Difference
Sharpe ratio: Return per unit of total volatility	2.98	3.33	-0.35
Sortino ratio: Return per unit of downside risk	3.77	4.19	-0.41
Omega ratio: Gain probability vs. loss probability	1.55	1.63	-0.08
Calmar ratio: Return relative to maximum drawdown	4.60	6.07	-1.47
Martin ratio: Return relative to average drawdown	17.73	22.82	-5.09

BCHI vs. HEEM - Sharpe Ratio Comparison

The current BCHI Sharpe Ratio is 2.98, which is comparable to the HEEM Sharpe Ratio of 3.33. The chart below compares the historical Sharpe Ratios of BCHI and HEEM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BCHI vs. HEEM - Drawdown Comparison

The maximum BCHI drawdown since its inception was -14.33%, smaller than the maximum HEEM drawdown of -33.53%. Use the drawdown chart below to compare losses from any high point for BCHI and HEEM.

Drawdown Indicators

	BCHI	HEEM	Difference
Max Drawdown Largest peak-to-trough decline	-14.33%	-33.53%	+19.20%
Max Drawdown (1Y) Largest decline over 1 year	-14.14%	-10.83%	-3.31%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.82%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-30.60%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.53%	—
Current Drawdown Current decline from peak	-1.09%	0.00%	-1.09%
Average Drawdown Average peak-to-trough decline	-2.26%	-11.10%	+8.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.66%	2.88%	+0.78%

Volatility

BCHI vs. HEEM - Volatility Comparison

GMO Beyond China ETF (BCHI) has a higher volatility of 11.10% compared to iShares Currency Hedged MSCI Emerging Markets ETF (HEEM) at 10.25%. This indicates that BCHI's price experiences larger fluctuations and is considered to be riskier than HEEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BCHI	HEEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.10%	10.25%	+0.85%
Volatility (6M) Calculated over the trailing 6-month period	19.96%	17.76%	+2.20%
Volatility (1Y) Calculated over the trailing 1-year period	21.88%	19.82%	+2.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.77%	17.48%	+4.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.77%	18.18%	+3.59%

BCHI vs. HEEM - Expense Ratio Comparison

BCHI has a 0.65% expense ratio, which is lower than HEEM's 0.72% expense ratio.

Dividends

BCHI vs. HEEM - Dividend Comparison

BCHI's dividend yield for the trailing twelve months is around 2.70%, less than HEEM's 2.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BCHI GMO Beyond China ETF	2.70%	3.67%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HEEM iShares Currency Hedged MSCI Emerging Markets ETF	2.98%	3.98%	2.38%	2.75%	7.49%	1.93%	1.49%	3.04%	2.37%	2.05%	1.84%	6.28%

Frequently Asked Questions

Can I hold both BCHI and HEEM in my portfolio?

BCHI and HEEM have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BCHI or HEEM?

BCHI has higher volatility (11.10%) compared to HEEM (10.25%). In terms of maximum drawdown, BCHI dropped -14.33% vs HEEM's -33.53%.

Which ETF is better, BCHI or HEEM?

On 1-year performance, HEEM leads with 65.45% vs 64.74% for BCHI. On fees, BCHI is cheaper at 0.65% per year. On volatility, HEEM has been the lower-risk option at 10.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BCHI or HEEM?

Over the 1-year period, HEEM has performed better with a 65.45% return vs 64.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BCHI or HEEM?

BCHI is cheaper with a 0.65% expense ratio, compared with 0.72% for HEEM.

Which ETF pays a higher dividend yield, BCHI or HEEM?

HEEM has the higher dividend yield at 2.98%, compared with 2.70% for BCHI.

What is the main difference between BCHI and HEEM?

They also come from different issuers: GMO and iShares. Their fees differ too: 0.65% for BCHI and 0.72% for HEEM.

Which has better risk-adjusted returns?

HEEM currently has the higher Sharpe Ratio (3.33 vs 2.98), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.