BCHI vs. IEMG

Last updated Jun 26, 2026

BCHI (GMO Beyond China ETF) and IEMG (iShares Core MSCI Emerging Markets ETF) are both Emerging Markets Diversified funds. BCHI is actively managed, while IEMG is passively managed. Over the past year, BCHI returned 51.93% vs 41.51% for IEMG. Their correlation of 0.88 suggests significant overlap in exposure. BCHI charges 0.65%/yr vs 0.09%/yr for IEMG.

Performance

BCHI vs. IEMG - Performance Comparison

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

Returns By Period

In the year-to-date period, BCHI achieves a 29.54% return, which is significantly higher than IEMG's 23.22% return.

BCHI

• 1D: 0.29%
• 1M: -2.99%
• YTD: 29.54%
• 6M: 29.99%
• 1Y: 51.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IEMG

• 1D: 0.88%
• 1M: -0.88%
• YTD: 23.22%
• 6M: 23.74%
• 1Y: 41.51%
• 3Y*: 22.40%
• 5Y*: 7.12%
• 10Y*: 10.62%

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

BCHI vs. IEMG - Yearly Performance Comparison

	2026 (YTD)	2025
BCHI GMO Beyond China ETF	29.54%	26.33%
IEMG iShares Core MSCI Emerging Markets ETF	23.22%	27.58%

Correlation

The correlation between BCHI and IEMG is 0.90, 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	0.90
Correlation (All Time) Calculated using the full available price history since Feb 13, 2025	0.88

The correlation between BCHI and IEMG has been stable across timeframes, ranging from 0.88 to 0.90 - a consistent structural relationship.

Return for Risk

BCHI vs. IEMG — Risk / Return Rank

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

BCHI

BCHI Risk / Return Rank: 81
BCHI Sharpe Ratio Rank: 83
BCHI Sortino Ratio Rank: 76
BCHI Omega Ratio Rank: 84
BCHI Calmar Ratio Rank: 80
BCHI Martin Ratio Rank: 81

IEMG

IEMG Risk / Return Rank: 69
IEMG Sharpe Ratio Rank: 67
IEMG Sortino Ratio Rank: 60
IEMG Omega Ratio Rank: 72
IEMG Calmar Ratio Rank: 72
IEMG Martin Ratio Rank: 71

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. IEMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GMO Beyond China ETF (BCHI) and iShares Core MSCI Emerging Markets ETF (IEMG). 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	IEMG	Difference
Sharpe ratio: Return per unit of total volatility	2.32	1.90	+0.43
Sortino ratio: Return per unit of downside risk	2.97	2.46	+0.52
Omega ratio: Gain probability vs. loss probability	1.44	1.37	+0.07
Calmar ratio: Return relative to maximum drawdown	3.69	3.16	+0.53
Martin ratio: Return relative to average drawdown	13.99	11.46	+2.53

BCHI vs. IEMG - Sharpe Ratio Comparison

The current BCHI Sharpe Ratio is 2.32, which is comparable to the IEMG Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of BCHI and IEMG, 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. IEMG - Drawdown Comparison

The maximum BCHI drawdown since its inception was -14.33%, smaller than the maximum IEMG drawdown of -38.71%. Use the drawdown chart below to compare losses from any high point for BCHI and IEMG.

Drawdown Indicators

	BCHI	IEMG	Difference
Max Drawdown Largest peak-to-trough decline	-14.33%	-38.71%	+24.38%
Max Drawdown (1Y) Largest decline over 1 year	-14.14%	-13.21%	-0.93%
Max Drawdown (3Y) Largest decline over 3 years	—	-17.21%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-35.75%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-38.71%	—
Current Drawdown Current decline from peak	-5.74%	-4.45%	-1.29%
Average Drawdown Average peak-to-trough decline	-2.29%	-12.93%	+10.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.72%	3.63%	+0.09%

Volatility

BCHI vs. IEMG - Volatility Comparison

GMO Beyond China ETF (BCHI) and iShares Core MSCI Emerging Markets ETF (IEMG) have volatilities of 11.77% and 11.67%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BCHI	IEMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.77%	11.67%	+0.10%
Volatility (6M) Calculated over the trailing 6-month period	20.78%	20.13%	+0.65%
Volatility (1Y) Calculated over the trailing 1-year period	22.46%	22.00%	+0.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.22%	18.99%	+3.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.22%	20.19%	+2.03%

BCHI vs. IEMG - Expense Ratio Comparison

BCHI has a 0.65% expense ratio, which is higher than IEMG's 0.09% expense ratio.

Dividends

BCHI vs. IEMG - Dividend Comparison

BCHI's dividend yield for the trailing twelve months is around 2.83%, more than IEMG's 2.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BCHI GMO Beyond China ETF	2.83%	3.67%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IEMG iShares Core MSCI Emerging Markets ETF	2.19%	2.75%	3.20%	2.89%	2.71%	3.06%	1.87%	3.15%	2.76%	2.35%	2.28%	2.53%

Frequently Asked Questions

Can I hold both BCHI and IEMG in my portfolio?

BCHI and IEMG have a correlation of 0.90, 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 IEMG?

BCHI has higher volatility (11.77%) compared to IEMG (11.67%). In terms of maximum drawdown, BCHI dropped -14.33% vs IEMG's -38.71%.

Which ETF is better, BCHI or IEMG?

On 1-year performance, BCHI leads with 51.93% vs 41.51% for IEMG. On fees, IEMG is cheaper at 0.09% per year. On volatility, IEMG has been the lower-risk option at 11.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BCHI or IEMG?

Over the 1-year period, BCHI has performed better with a 51.93% return vs 41.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BCHI or IEMG?

IEMG is cheaper with a 0.09% expense ratio, compared with 0.65% for BCHI.

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

BCHI has the higher dividend yield at 2.83%, compared with 2.19% for IEMG.

What is the main difference between BCHI and IEMG?

They also come from different issuers: GMO and iShares. Their fees differ too: 0.65% for BCHI and 0.09% for IEMG.

Which has better risk-adjusted returns?

BCHI currently has the higher Sharpe Ratio (2.32 vs 1.90), 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.