BCHI vs. XCNY

Last updated Jun 6, 2026

BCHI (GMO Beyond China ETF) and XCNY (SPDR S&P Emerging Markets ex-China ETF) are both Emerging Markets Diversified funds. BCHI is actively managed, while XCNY is passively managed. Over the past year, BCHI returned 51.59% vs 30.73% for XCNY. Their correlation of 0.89 suggests significant overlap in exposure. BCHI charges 0.65%/yr vs 0.15%/yr for XCNY.

Performance

BCHI vs. XCNY - Performance Comparison

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

Returns By Period

In the year-to-date period, BCHI achieves a 26.17% return, which is significantly higher than XCNY's 14.37% return.

BCHI

• 1D: -6.54%
• 1M: -3.40%
• YTD: 26.17%
• 6M: 27.76%
• 1Y: 51.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XCNY

• 1D: -4.45%
• 1M: -3.03%
• YTD: 14.37%
• 6M: 17.01%
• 1Y: 30.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BCHI vs. XCNY - Yearly Performance Comparison

	2026 (YTD)	2025
BCHI GMO Beyond China ETF	26.17%	25.80%
XCNY SPDR S&P Emerging Markets ex-China ETF	14.37%	20.52%

Correlation

The correlation between BCHI and XCNY 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 14, 2025	0.89

The correlation between BCHI and XCNY has been stable across timeframes, ranging from 0.89 to 0.90 - a consistent structural relationship.

Return for Risk

BCHI vs. XCNY — Risk / Return Rank

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

BCHI

BCHI Risk / Return Rank: 79
BCHI Sharpe Ratio Rank: 81
BCHI Sortino Ratio Rank: 76
BCHI Omega Ratio Rank: 82
BCHI Calmar Ratio Rank: 76
BCHI Martin Ratio Rank: 80

XCNY

XCNY Risk / Return Rank: 57
XCNY Sharpe Ratio Rank: 57
XCNY Sortino Ratio Rank: 56
XCNY Omega Ratio Rank: 59
XCNY Calmar Ratio Rank: 56
XCNY Martin Ratio Rank: 59

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. XCNY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GMO Beyond China ETF (BCHI) and SPDR S&P Emerging Markets ex-China ETF (XCNY). 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	XCNY	Difference
Sharpe ratio: Return per unit of total volatility	2.47	1.79	+0.68
Sortino ratio: Return per unit of downside risk	3.19	2.47	+0.73
Omega ratio: Gain probability vs. loss probability	1.47	1.33	+0.13
Calmar ratio: Return relative to maximum drawdown	3.67	2.60	+1.06
Martin ratio: Return relative to average drawdown	14.62	9.94	+4.67
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. XCNY - Sharpe Ratio Comparison

The current BCHI Sharpe Ratio is 2.47, which is higher than the XCNY Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of BCHI and XCNY, 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	XCNY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.47	1.79	+0.68
Sharpe Ratio (All Time) Calculated using the full available price history	2.00	0.99	+1.01

Drawdowns

BCHI vs. XCNY - Drawdown Comparison

The maximum BCHI drawdown since its inception was -14.33%, smaller than the maximum XCNY drawdown of -19.70%. Use the drawdown chart below to compare losses from any high point for BCHI and XCNY.

Drawdown Indicators

	BCHI	XCNY	Difference
Max Drawdown Largest peak-to-trough decline	-14.33%	-19.70%	+5.37%
Max Drawdown (1Y) Largest decline over 1 year	-14.14%	-11.86%	-2.28%
Current Drawdown Current decline from peak	-8.19%	-5.49%	-2.70%
Average Drawdown Average peak-to-trough decline	-2.21%	-4.14%	+1.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.54%	3.10%	+0.44%

Volatility

BCHI vs. XCNY - Volatility Comparison

GMO Beyond China ETF (BCHI) has a higher volatility of 11.05% compared to SPDR S&P Emerging Markets ex-China ETF (XCNY) at 7.62%. This indicates that BCHI's price experiences larger fluctuations and is considered to be riskier than XCNY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BCHI	XCNY	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.05%	7.62%	+3.43%
Volatility (6M) Calculated over the trailing 6-month period	19.07%	15.21%	+3.86%
Volatility (1Y) Calculated over the trailing 1-year period	20.99%	17.22%	+3.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.36%	18.04%	+3.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.36%	18.04%	+3.32%

BCHI vs. XCNY - Expense Ratio Comparison

BCHI has a 0.65% expense ratio, which is higher than XCNY's 0.15% expense ratio.

Dividends

BCHI vs. XCNY - Dividend Comparison

BCHI's dividend yield for the trailing twelve months is around 2.91%, more than XCNY's 2.35% yield.

Position	TTM	2025	2024
BCHI GMO Beyond China ETF	2.91%	3.67%	0.00%
XCNY SPDR S&P Emerging Markets ex-China ETF	2.35%	2.68%	1.07%

Frequently Asked Questions

Can I hold both BCHI and XCNY in my portfolio?

BCHI and XCNY 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 XCNY?

BCHI has higher volatility (11.05%) compared to XCNY (7.62%). In terms of maximum drawdown, BCHI dropped -14.33% vs XCNY's -19.70%.

Which ETF is better, BCHI or XCNY?

On 1-year performance, BCHI leads with 51.59% vs 30.73% for XCNY. On fees, XCNY is cheaper at 0.15% per year. On volatility, XCNY has been the lower-risk option at 7.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BCHI or XCNY?

Over the 1-year period, BCHI has performed better with a 51.59% return vs 30.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BCHI or XCNY?

XCNY is cheaper with a 0.15% expense ratio, compared with 0.65% for BCHI.

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

BCHI has the higher dividend yield at 2.91%, compared with 2.35% for XCNY.

What is the main difference between BCHI and XCNY?

They also come from different issuers: GMO and State Street. Their fees differ too: 0.65% for BCHI and 0.15% for XCNY.

Which has better risk-adjusted returns?

BCHI currently has the higher Sharpe Ratio (2.47 vs 1.79), 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.