BKEM vs. BBAX

Last updated Jun 4, 2026

BKEM (BNY Mellon Emerging Markets Equity ETF) and BBAX (JPMorgan BetaBuilders Developed Asia ex-Japan ETF) are both Asia Pacific Equities funds - BKEM tracks the Morningstar Emerging Markets Large Cap Index while BBAX tracks the Morningstar Developed Asia Pacific ex-Japan Target Market Exposure Index. Both are passively managed. Over the past 5 years, BKEM returned 7.37%/yr vs 5.02%/yr for BBAX. A 0.78 correlation means they provide meaningful diversification when combined. BKEM charges 0.11%/yr vs 0.19%/yr for BBAX.

Performance

BKEM vs. BBAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon Emerging Markets Equity ETF (BKEM) and JPMorgan BetaBuilders Developed Asia ex-Japan ETF (BBAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BKEM achieves a 30.24% return, which is significantly higher than BBAX's 10.52% return.

BKEM

• 1D: -0.95%
• 1M: 8.75%
• YTD: 30.24%
• 6M: 32.64%
• 1Y: 57.21%
• 3Y*: 24.11%
• 5Y*: 7.37%
• 10Y*: —

BBAX

• 1D: -1.00%
• 1M: 1.03%
• YTD: 10.52%
• 6M: 12.09%
• 1Y: 20.17%
• 3Y*: 13.06%
• 5Y*: 5.02%
• 10Y*: —

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

BKEM vs. BBAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BKEM BNY Mellon Emerging Markets Equity ETF	30.24%	30.55%	7.53%	8.68%	-19.43%	-3.91%	47.53%
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF	10.52%	20.21%	2.50%	5.60%	-4.80%	5.53%	39.78%

Correlation

The correlation between BKEM and BBAX is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (All Time) Calculated using the full available price history since Apr 27, 2020	0.78

The correlation between BKEM and BBAX has been stable across timeframes, ranging from 0.73 to 0.78 - a consistent structural relationship.

BKEM vs. BBAX - Sectors Allocation Comparison

Sectors	BKEM	BBAX
Technology	35.9%	0.3%
Financial Services	18.9%	45.9%
Consumer Cyclical	9.7%	4.9%
Industrials	9.0%	7.9%
Communication Services	6.6%	2.8%
Basic Materials	6.4%	16.0%
Energy	4.0%	2.9%
Healthcare	3.2%	4.5%
Consumer Defensive	2.9%	3.1%
Utilities	2.3%	3.3%
Real Estate	1.2%	8.4%

Return for Risk

BKEM vs. BBAX — Risk / Return Rank

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

BKEM

BKEM Risk / Return Rank: 84
BKEM Sharpe Ratio Rank: 87
BKEM Sortino Ratio Rank: 84
BKEM Omega Ratio Rank: 84
BKEM Calmar Ratio Rank: 83
BKEM Martin Ratio Rank: 83

BBAX

BBAX Risk / Return Rank: 41
BBAX Sharpe Ratio Rank: 39
BBAX Sortino Ratio Rank: 38
BBAX Omega Ratio Rank: 38
BBAX Calmar Ratio Rank: 46
BBAX Martin Ratio Rank: 45

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.

BKEM vs. BBAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Emerging Markets Equity ETF (BKEM) and JPMorgan BetaBuilders Developed Asia ex-Japan ETF (BBAX). 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.

	BKEM	BBAX	Difference
Sharpe ratio: Return per unit of total volatility	2.95	1.41	+1.54
Sortino ratio: Return per unit of downside risk	3.83	2.00	+1.83
Omega ratio: Gain probability vs. loss probability	1.52	1.25	+0.27
Calmar ratio: Return relative to maximum drawdown	4.39	2.25	+2.14
Martin ratio: Return relative to average drawdown	16.85	7.46	+9.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BKEM vs. BBAX - Sharpe Ratio Comparison

The current BKEM Sharpe Ratio is 2.95, which is higher than the BBAX Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of BKEM and BBAX, 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

	BKEM	BBAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.95	1.41	+1.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	0.29	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	0.35	+0.41

Drawdowns

BKEM vs. BBAX - Drawdown Comparison

The maximum BKEM drawdown since its inception was -39.48%, roughly equal to the maximum BBAX drawdown of -39.64%. Use the drawdown chart below to compare losses from any high point for BKEM and BBAX.

Drawdown Indicators

	BKEM	BBAX	Difference
Max Drawdown Largest peak-to-trough decline	-39.48%	-39.64%	+0.16%
Max Drawdown (1Y) Largest decline over 1 year	-13.11%	-9.01%	-4.10%
Max Drawdown (3Y) Largest decline over 3 years	-18.38%	-20.12%	+1.74%
Max Drawdown (5Y) Largest decline over 5 years	-36.53%	-24.33%	-12.20%
Current Drawdown Current decline from peak	-0.95%	-3.16%	+2.21%
Average Drawdown Average peak-to-trough decline	-16.00%	-7.22%	-8.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.41%	2.71%	+0.70%

Volatility

BKEM vs. BBAX - Volatility Comparison

BNY Mellon Emerging Markets Equity ETF (BKEM) has a higher volatility of 8.10% compared to JPMorgan BetaBuilders Developed Asia ex-Japan ETF (BBAX) at 4.65%. This indicates that BKEM's price experiences larger fluctuations and is considered to be riskier than BBAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BKEM	BBAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.10%	4.65%	+3.45%
Volatility (6M) Calculated over the trailing 6-month period	16.75%	11.79%	+4.96%
Volatility (1Y) Calculated over the trailing 1-year period	19.46%	14.34%	+5.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.73%	17.28%	+1.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.12%	19.68%	-0.56%

BKEM vs. BBAX - Expense Ratio Comparison

BKEM has a 0.11% expense ratio, which is lower than BBAX's 0.19% 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

BKEM vs. BBAX - Dividend Comparison

BKEM's dividend yield for the trailing twelve months is around 1.45%, less than BBAX's 3.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF	3.58%	3.86%	4.13%	4.17%	5.06%	5.47%	2.57%	4.07%	1.36%
BKEM BNY Mellon Emerging Markets Equity ETF	1.45%	2.25%	2.76%	3.02%	3.15%	2.22%	1.78%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BKEM and BBAX in my portfolio?

BKEM and BBAX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BKEM or BBAX?

BKEM has higher volatility (8.10%) compared to BBAX (4.65%). In terms of maximum drawdown, BKEM dropped -39.48% vs BBAX's -39.64%.

Which ETF is better, BKEM or BBAX?

On 5-year performance, BKEM leads with 7.37% vs 5.02% for BBAX. On fees, BKEM is cheaper at 0.11% per year. On volatility, BBAX has been the lower-risk option at 4.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BKEM or BBAX?

Over the 5-year period, BKEM has performed better with a 7.37% return vs 5.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BKEM or BBAX?

BKEM is cheaper with a 0.11% expense ratio, compared with 0.19% for BBAX.

Which ETF pays a higher dividend yield, BKEM or BBAX?

BBAX has the higher dividend yield at 3.58%, compared with 1.45% for BKEM.

What is the main difference between BKEM and BBAX?

BKEM tracks Morningstar Emerging Markets Large Cap Index, while BBAX tracks Morningstar Developed Asia Pacific ex-Japan Target Market Exposure Index. They also come from different issuers: BNY Mellon and JPMorgan. Their fees differ too: 0.11% for BKEM and 0.19% for BBAX.

Which has better risk-adjusted returns?

BKEM currently has the higher Sharpe Ratio (2.95 vs 1.41), 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.