BKEM vs. BITI
BKEM (BNY Mellon Emerging Markets Equity ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - BKEM is a Emerging Markets Equities fund tracking the Morningstar Emerging Markets Large Cap Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, BKEM returned 19.62%/yr vs -31.54%/yr for BITI. At a correlation of -0.35, they often move in opposite directions. BKEM charges 0.11%/yr vs 1.03%/yr for BITI.
Performance
BKEM vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, BKEM achieves a 22.14% return, which is significantly lower than BITI's 23.84% return.
BKEM
- 1D
- 1.71%
- 1M
- -3.22%
- 6M
- 16.09%
- YTD
- 22.14%
- 1Y
- 38.83%
- 3Y*
- 19.62%
- 5Y*
- 6.67%
- 10Y*
- —
BITI
- 1D
- -3.81%
- 1M
- -2.41%
- 6M
- 34.02%
- YTD
- 23.84%
- 1Y
- 64.31%
- 3Y*
- -31.54%
- 5Y*
- —
- 10Y*
- —
BKEM vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BKEM BNY Mellon Emerging Markets Equity ETF | 22.14% | 30.55% | 7.53% | 8.68% | -2.91% |
BITI ProShares Short Bitcoin ETF | 23.84% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between BKEM and BITI is -0.45, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.32 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.35 |
The correlation between BKEM and BITI shifts across timeframes, from -0.45 (1 year) to -0.32 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
BKEM vs. BITI — Risk / Return Rank
BKEM
BITI
BKEM vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Emerging Markets Equity ETF (BKEM) and ProShares Short Bitcoin ETF (BITI). 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.
| BKEM | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.24 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.98 | 2.56 | +0.42 |
| Martin ratioReturn relative to average drawdown | 10.09 | 6.37 | +3.73 |
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Drawdowns
BKEM vs. BITI - Drawdown Comparison
The maximum BKEM drawdown since its inception was -39.48%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for BKEM and BITI.
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Drawdown Indicators
| BKEM | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.48% | -92.16% | +52.68% |
Max Drawdown (1Y)Largest decline over 1 year | -13.11% | -25.28% | +12.17% |
Max Drawdown (3Y)Largest decline over 3 years | -18.38% | -84.63% | +66.25% |
Max Drawdown (5Y)Largest decline over 5 years | -33.89% | — | — |
Current DrawdownCurrent decline from peak | -7.51% | -86.48% | +78.97% |
Average DrawdownAverage peak-to-trough decline | -15.80% | -68.36% | +52.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.86% | 10.13% | -6.27% |
Volatility
BKEM vs. BITI - Volatility Comparison
The current volatility for BNY Mellon Emerging Markets Equity ETF (BKEM) is 10.25%, while ProShares Short Bitcoin ETF (BITI) has a volatility of 11.73%. This indicates that BKEM experiences smaller price fluctuations and is considered to be less risky than BITI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BKEM | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.25% | 11.73% | -1.48% |
Volatility (6M)Calculated over the trailing 6-month period | 20.99% | 34.49% | -13.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.93% | 44.24% | -21.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.51% | 52.29% | -32.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.65% | 52.29% | -32.64% |
BKEM vs. BITI - Expense Ratio Comparison
BKEM has a 0.11% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
BKEM vs. BITI - Dividend Comparison
BKEM's dividend yield for the trailing twelve months is around 1.92%, less than BITI's 15.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 15.70% | 1.60% | 3.91% | 3.33% | 0.06% | 0.00% | 0.00% |
BKEM BNY Mellon Emerging Markets Equity ETF | 1.92% | 2.25% | 2.76% | 3.02% | 3.15% | 2.22% | 1.78% |
Frequently Asked Questions
BKEM and BITI have a correlation of -0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITI has higher volatility (11.73%) compared to BKEM (10.25%). In terms of maximum drawdown, BKEM dropped -39.48% vs BITI's -92.16%.
On 3-year performance, BKEM leads with 19.62% vs -31.54% for BITI. On fees, BKEM is cheaper at 0.11% per year. On volatility, BKEM has been the lower-risk option at 10.25%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BKEM has performed better with a 19.62% return vs -31.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BKEM is cheaper with a 0.11% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 15.70%, compared with 1.92% for BKEM.
BKEM is categorized as Emerging Markets Equities, while BITI is Cryptocurrency. BKEM tracks Morningstar Emerging Markets Large Cap Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: BNY Mellon and ProShares. Their fees differ too: 0.11% for BKEM and 1.03% for BITI.
BKEM currently has the higher Sharpe Ratio (1.70 vs 1.46), 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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