BKAG vs. BKEM
BKAG (BNY Mellon Core Bond ETF) and BKEM (BNY Mellon Emerging Markets Equity ETF) are both exchange-traded funds - BKAG is a Total Bond Market fund tracking the Bloomberg US Aggregate Total Return Index, while BKEM is a Emerging Markets Equities fund tracking the Morningstar Emerging Markets Large Cap Index. Both are passively managed. Over the past 5 years, BKAG returned -0.34%/yr vs 7.49%/yr for BKEM. Their 0.12 correlation means their historical movements had little consistent relationship. BKAG charges 0.00%/yr vs 0.11%/yr for BKEM.
Performance
BKAG vs. BKEM - Performance Comparison
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Returns By Period
In the year-to-date period, BKAG achieves a 0.05% return, which is significantly lower than BKEM's 22.55% return.
BKAG
- 1D
- 0.39%
- 1M
- -0.61%
- 6M
- -0.08%
- YTD
- 0.05%
- 1Y
- 2.46%
- 3Y*
- 4.12%
- 5Y*
- -0.34%
- 10Y*
- —
- ALL TIME*
- 0.01%
BKEM
- 1D
- 2.46%
- 1M
- 0.22%
- 6M
- 12.31%
- YTD
- 22.55%
- 1Y
- 38.27%
- 3Y*
- 20.12%
- 5Y*
- 7.49%
- 10Y*
- —
- ALL TIME*
- 12.96%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $10.00M | $8.31M | $6.66M | |
| $489.60K | $311.13K | $245.44K |
BKAG vs. BKEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BKAG BNY Mellon Core Bond ETF | 0.05% | 7.23% | 1.17% | 5.67% | -13.29% | -1.46% | 2.12% |
BKEM BNY Mellon Emerging Markets Equity ETF | 22.55% | 30.55% | 7.53% | 8.68% | -19.43% | -3.91% | 48.44% |
Correlation
The correlation between BKAG and BKEM is 0.30, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.30 |
Correlation (3Y) Balances recent behavior with more history. | 0.19 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.14 |
Correlation (All Time) Calculated using the full available price history since Apr 24, 2020 | 0.12 |
The correlation between BKAG and BKEM shifts across timeframes, from 0.12 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BKAG vs. BKEM — Risk / Return Rank
BKAG
BKEM
BKAG vs. BKEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Core Bond ETF (BKAG) and BNY Mellon Emerging Markets Equity ETF (BKEM). 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.
| BKAG | BKEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.95 | ||
| Sortino ratioReturn per unit of downside risk | -1.19 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.30 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.90 | 2.76 | -1.87 |
| Martin ratioReturn relative to average drawdown | 2.17 | 8.43 | -6.26 |
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Drawdowns
BKAG vs. BKEM - Drawdown Comparison
The maximum BKAG drawdown since its inception was -18.53%, smaller than the maximum BKEM drawdown of -39.48%. Use the drawdown chart below to compare losses from any high point for BKAG and BKEM.
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Drawdown Indicators
| BKAG | BKEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.53% | -39.48% | +20.95% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -13.91% | +11.15% |
Max Drawdown (3Y)Largest decline over 3 years | -4.99% | -18.38% | +13.39% |
Max Drawdown (5Y)Largest decline over 5 years | -17.85% | -33.28% | +15.43% |
Current DrawdownCurrent decline from peak | -2.55% | -7.20% | +4.65% |
Average DrawdownAverage peak-to-trough decline | -6.99% | -15.75% | +8.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.14% | 4.55% | -3.41% |
Volatility
BKAG vs. BKEM - Volatility Comparison
The current volatility for BNY Mellon Core Bond ETF (BKAG) is 1.07%, while BNY Mellon Emerging Markets Equity ETF (BKEM) has a volatility of 9.01%. This indicates that BKAG experiences smaller price fluctuations and is considered to be less risky than BKEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BKAG | BKEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.07% | 9.01% | -7.94% |
Volatility (6M)Calculated over the trailing 6-month period | 2.94% | 21.91% | -18.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.73% | 23.94% | -20.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.02% | 19.64% | -13.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.51% | 19.77% | -14.26% |
BKAG vs. BKEM - Expense Ratio Comparison
BKAG has a 0.00% expense ratio, which is lower than BKEM's 0.11% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
BKAG vs. BKEM - Dividend Comparison
BKAG's dividend yield for the trailing twelve months is around 4.29%, more than BKEM's 1.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
BKAG BNY Mellon Core Bond ETF | 4.29% | 4.17% | 4.26% | 3.33% | 2.49% | 1.55% | 1.16% |
BKEM BNY Mellon Emerging Markets Equity ETF | 1.91% | 2.25% | 2.76% | 3.02% | 3.15% | 2.22% | 1.78% |
Frequently Asked Questions
BKAG and BKEM have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BKEM has higher volatility (9.01%) compared to BKAG (1.07%). In terms of maximum drawdown, BKAG dropped -18.53% vs BKEM's -39.48%.
On 5-year performance, BKEM leads with 7.49% vs -0.34% for BKAG. On fees, BKAG is cheaper at 0.00% per year. On volatility, BKAG has been the lower-risk option at 1.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BKEM has performed better with a 7.49% return vs -0.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BKAG is cheaper with a 0.00% expense ratio, compared with 0.11% for BKEM.
BKAG has the higher dividend yield at 4.29%, compared with 1.91% for BKEM.
BKAG is categorized as Total Bond Market, while BKEM is Emerging Markets Equities. BKAG tracks Bloomberg US Aggregate Total Return Index, while BKEM tracks Morningstar Emerging Markets Large Cap Index. Their fees differ too: 0.00% for BKAG and 0.11% for BKEM.
BKEM currently has the higher Sharpe Ratio (1.61 vs 0.66), 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.
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