BKEM vs. BKLC

Last updated Jun 4, 2026

BKEM (BNY Mellon Emerging Markets Equity ETF) and BKLC (BNY Mellon US Large Cap Core Equity ETF) are both exchange-traded funds - BKEM is a Asia Pacific Equities fund tracking the Morningstar Emerging Markets Large Cap Index, while BKLC is a Large Cap Growth Equities fund tracking the Morningstar US Large Cap Index. Both are passively managed. Over the past 5 years, BKEM returned 7.37%/yr vs 14.33%/yr for BKLC. A 0.65 correlation means they provide meaningful diversification when combined. BKEM charges 0.11%/yr vs 0.00%/yr for BKLC.

Performance

BKEM vs. BKLC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon Emerging Markets Equity ETF (BKEM) and BNY Mellon US Large Cap Core Equity ETF (BKLC). 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 BKLC's 10.93% return.

BKEM

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

BKLC

• 1D: -0.74%
• 1M: 5.19%
• YTD: 10.93%
• 6M: 10.81%
• 1Y: 28.05%
• 3Y*: 23.25%
• 5Y*: 14.33%
• 10Y*: —

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

BKEM vs. BKLC - 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%
BKLC BNY Mellon US Large Cap Core Equity ETF	10.93%	18.06%	25.56%	30.88%	-20.52%	27.41%	36.06%

Correlation

The correlation between BKEM and BKLC 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	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (All Time) Calculated using the full available price history since Apr 27, 2020	0.65

The correlation between BKEM and BKLC has been stable across timeframes, ranging from 0.64 to 0.73 - a consistent structural relationship.

BKEM vs. BKLC - Sectors Allocation Comparison

Sectors	BKEM	BKLC
Technology	35.9%	38.0%
Financial Services	18.9%	10.9%
Consumer Cyclical	9.7%	9.8%
Industrials	9.0%	7.8%
Communication Services	6.6%	10.8%
Basic Materials	6.4%	1.6%
Energy	4.0%	3.3%
Healthcare	3.2%	8.3%
Consumer Defensive	2.9%	4.4%
Utilities	2.3%	2.5%
Real Estate	1.2%	1.7%

Return for Risk

BKEM vs. BKLC — 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

BKLC

BKLC Risk / Return Rank: 68
BKLC Sharpe Ratio Rank: 69
BKLC Sortino Ratio Rank: 67
BKLC Omega Ratio Rank: 69
BKLC Calmar Ratio Rank: 61
BKLC Martin Ratio Rank: 73

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. BKLC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Emerging Markets Equity ETF (BKEM) and BNY Mellon US Large Cap Core Equity ETF (BKLC). 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	BKLC	Difference
Sharpe ratio: Return per unit of total volatility	2.95	2.33	+0.63
Sortino ratio: Return per unit of downside risk	3.83	3.15	+0.68
Omega ratio: Gain probability vs. loss probability	1.52	1.42	+0.10
Calmar ratio: Return relative to maximum drawdown	4.39	3.10	+1.29
Martin ratio: Return relative to average drawdown	16.85	14.15	+2.70
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. BKLC - Sharpe Ratio Comparison

The current BKEM Sharpe Ratio is 2.95, which is comparable to the BKLC Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of BKEM and BKLC, 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	BKLC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.95	2.33	+0.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	0.84	-0.44
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	1.12	-0.37

Drawdowns

BKEM vs. BKLC - Drawdown Comparison

The maximum BKEM drawdown since its inception was -39.48%, which is greater than BKLC's maximum drawdown of -26.14%. Use the drawdown chart below to compare losses from any high point for BKEM and BKLC.

Drawdown Indicators

	BKEM	BKLC	Difference
Max Drawdown Largest peak-to-trough decline	-39.48%	-26.14%	-13.34%
Max Drawdown (1Y) Largest decline over 1 year	-13.11%	-9.10%	-4.01%
Max Drawdown (3Y) Largest decline over 3 years	-18.38%	-19.05%	+0.67%
Max Drawdown (5Y) Largest decline over 5 years	-36.53%	-26.14%	-10.39%
Current Drawdown Current decline from peak	-0.95%	-0.74%	-0.21%
Average Drawdown Average peak-to-trough decline	-16.00%	-5.27%	-10.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.41%	1.99%	+1.42%

Volatility

BKEM vs. BKLC - Volatility Comparison

BNY Mellon Emerging Markets Equity ETF (BKEM) has a higher volatility of 8.10% compared to BNY Mellon US Large Cap Core Equity ETF (BKLC) at 3.00%. This indicates that BKEM's price experiences larger fluctuations and is considered to be riskier than BKLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BKEM	BKLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.10%	3.00%	+5.10%
Volatility (6M) Calculated over the trailing 6-month period	16.75%	9.12%	+7.63%
Volatility (1Y) Calculated over the trailing 1-year period	19.46%	12.11%	+7.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.73%	17.16%	+1.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.12%	17.44%	+1.68%

BKEM vs. BKLC - Expense Ratio Comparison

BKEM has a 0.11% expense ratio, which is higher than BKLC's 0.00% expense ratio. However, 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. BKLC - Dividend Comparison

BKEM's dividend yield for the trailing twelve months is around 1.45%, more than BKLC's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
BKEM BNY Mellon Emerging Markets Equity ETF	1.45%	2.25%	2.76%	3.02%	3.15%	2.22%	1.78%
BKLC BNY Mellon US Large Cap Core Equity ETF	1.01%	1.05%	1.22%	1.35%	1.64%	1.10%	0.84%

Frequently Asked Questions

Can I hold both BKEM and BKLC in my portfolio?

BKEM and BKLC 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 BKLC?

BKEM has higher volatility (8.10%) compared to BKLC (3.00%). In terms of maximum drawdown, BKEM dropped -39.48% vs BKLC's -26.14%.

Which ETF is better, BKEM or BKLC?

On 5-year performance, BKLC leads with 14.33% vs 7.37% for BKEM. On fees, BKLC is cheaper at 0.00% per year. On volatility, BKLC has been the lower-risk option at 3.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BKEM or BKLC?

Over the 5-year period, BKLC has performed better with a 14.33% return vs 7.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BKEM or BKLC?

BKLC is cheaper with a 0.00% expense ratio, compared with 0.11% for BKEM.

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

BKEM has the higher dividend yield at 1.45%, compared with 1.01% for BKLC.

What is the main difference between BKEM and BKLC?

BKEM is categorized as Asia Pacific Equities, while BKLC is Large Cap Growth Equities. BKEM tracks Morningstar Emerging Markets Large Cap Index, while BKLC tracks Morningstar US Large Cap Index. Their fees differ too: 0.11% for BKEM and 0.00% for BKLC.

Which has better risk-adjusted returns?

BKEM currently has the higher Sharpe Ratio (2.95 vs 2.33), 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.