BCHI vs. PEMX

Last updated Jun 5, 2026

BCHI (GMO Beyond China ETF) and PEMX (Putnam Emerging Markets Ex-China ETF) are both Emerging Markets Diversified funds. Both are actively managed. Over the past year, BCHI returned 62.50% vs 72.01% for PEMX. Their correlation of 0.90 suggests significant overlap in exposure. BCHI charges 0.65%/yr vs 0.85%/yr for PEMX.

Performance

BCHI vs. PEMX - Performance Comparison

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

Returns By Period

In the year-to-date period, BCHI achieves a 34.99% return, which is significantly lower than PEMX's 38.90% return.

BCHI

• 1D: -0.39%
• 1M: 7.93%
• YTD: 34.99%
• 6M: 37.70%
• 1Y: 62.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PEMX

• 1D: -1.04%
• 1M: 7.45%
• YTD: 38.90%
• 6M: 44.55%
• 1Y: 72.01%
• 3Y*: 34.40%
• 5Y*: —
• 10Y*: —

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

BCHI vs. PEMX - Yearly Performance Comparison

	2026 (YTD)	2025
BCHI GMO Beyond China ETF	34.99%	25.80%
PEMX Putnam Emerging Markets Ex-China ETF	38.90%	32.45%

Correlation

The correlation between BCHI and PEMX is 0.91, 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	0.91
Correlation (All Time) Calculated using the full available price history since Feb 14, 2025	0.90

The correlation between BCHI and PEMX has been stable across timeframes, ranging from 0.90 to 0.91 - a consistent structural relationship.

Return for Risk

BCHI vs. PEMX — Risk / Return Rank

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

BCHI

BCHI Risk / Return Rank: 89
BCHI Sharpe Ratio Rank: 91
BCHI Sortino Ratio Rank: 91
BCHI Omega Ratio Rank: 91
BCHI Calmar Ratio Rank: 84
BCHI Martin Ratio Rank: 86

PEMX

PEMX Risk / Return Rank: 90
PEMX Sharpe Ratio Rank: 93
PEMX Sortino Ratio Rank: 90
PEMX Omega Ratio Rank: 90
PEMX Calmar Ratio Rank: 88
PEMX Martin Ratio Rank: 89

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. PEMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GMO Beyond China ETF (BCHI) and Putnam Emerging Markets Ex-China ETF (PEMX). 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.

	BCHI	PEMX	Difference
Sharpe ratio: Return per unit of total volatility	3.16	3.36	-0.20
Sortino ratio: Return per unit of downside risk	4.18	4.15	+0.03
Omega ratio: Gain probability vs. loss probability	1.58	1.57	+0.01
Calmar ratio: Return relative to maximum drawdown	4.44	5.01	-0.57
Martin ratio: Return relative to average drawdown	17.90	19.75	-1.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BCHI vs. PEMX - Sharpe Ratio Comparison

The current BCHI Sharpe Ratio is 3.16, which is comparable to the PEMX Sharpe Ratio of 3.36. The chart below compares the historical Sharpe Ratios of BCHI and PEMX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BCHI	PEMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.16	3.36	-0.20
Sharpe Ratio (All Time) Calculated using the full available price history	2.45	1.96	+0.50

Drawdowns

BCHI vs. PEMX - Drawdown Comparison

The maximum BCHI drawdown since its inception was -14.33%, roughly equal to the maximum PEMX drawdown of -14.91%. Use the drawdown chart below to compare losses from any high point for BCHI and PEMX.

Drawdown Indicators

	BCHI	PEMX	Difference
Max Drawdown Largest peak-to-trough decline	-14.33%	-14.91%	+0.58%
Max Drawdown (1Y) Largest decline over 1 year	-14.14%	-14.45%	+0.31%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.91%	—
Current Drawdown Current decline from peak	-1.77%	-1.67%	-0.10%
Average Drawdown Average peak-to-trough decline	-2.19%	-2.84%	+0.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.50%	3.66%	-0.16%

Volatility

BCHI vs. PEMX - Volatility Comparison

GMO Beyond China ETF (BCHI) and Putnam Emerging Markets Ex-China ETF (PEMX) have volatilities of 9.56% and 9.60%, 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	PEMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.56%	9.60%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	17.73%	18.77%	-1.04%
Volatility (1Y) Calculated over the trailing 1-year period	19.88%	21.54%	-1.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.57%	18.18%	+2.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.57%	18.18%	+2.39%

BCHI vs. PEMX - Expense Ratio Comparison

BCHI has a 0.65% expense ratio, which is lower than PEMX's 0.85% expense ratio.

Dividends

BCHI vs. PEMX - Dividend Comparison

BCHI's dividend yield for the trailing twelve months is around 2.72%, less than PEMX's 5.04% yield.

Position	TTM	2025	2024	2023
BCHI GMO Beyond China ETF	2.72%	3.67%	0.00%	0.00%
PEMX Putnam Emerging Markets Ex-China ETF	5.04%	7.00%	5.00%	0.72%

Frequently Asked Questions

Can I hold both BCHI and PEMX in my portfolio?

With a correlation of 0.91, BCHI and PEMX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BCHI or PEMX?

PEMX has higher volatility (9.60%) compared to BCHI (9.56%). In terms of maximum drawdown, BCHI dropped -14.33% vs PEMX's -14.91%.

Which ETF is better, BCHI or PEMX?

On 1-year performance, PEMX leads with 72.01% vs 62.50% for BCHI. On fees, BCHI is cheaper at 0.65% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BCHI or PEMX?

Over the 1-year period, PEMX has performed better with a 72.01% return vs 62.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BCHI or PEMX?

BCHI is cheaper with a 0.65% expense ratio, compared with 0.85% for PEMX.

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

PEMX has the higher dividend yield at 5.04%, compared with 2.72% for BCHI.

What is the main difference between BCHI and PEMX?

They also come from different issuers: GMO and Putnam. Their fees differ too: 0.65% for BCHI and 0.85% for PEMX.

Which has better risk-adjusted returns?

PEMX currently has the higher Sharpe Ratio (3.36 vs 3.16), 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.