BKEM vs. BKMC

Last updated Jun 4, 2026

BKEM (BNY Mellon Emerging Markets Equity ETF) and BKMC (BNY Mellon US Mid 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 BKMC is a Mid Cap Growth Equities fund tracking the Morningstar US Mid Cap Index. Both are passively managed. Over the past 5 years, BKEM returned 7.37%/yr vs 7.85%/yr for BKMC. A 0.63 correlation means they provide meaningful diversification when combined. BKEM charges 0.11%/yr vs 0.04%/yr for BKMC.

Performance

BKEM vs. BKMC - 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 Mid Cap Core Equity ETF (BKMC). 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 BKMC's 11.31% return.

BKEM

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

BKMC

• 1D: -0.34%
• 1M: 3.45%
• YTD: 11.31%
• 6M: 11.40%
• 1Y: 23.02%
• 3Y*: 16.09%
• 5Y*: 7.85%
• 10Y*: —

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

BKEM vs. BKMC - 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%
BKMC BNY Mellon US Mid Cap Core Equity ETF	11.31%	8.74%	13.78%	17.50%	-16.03%	23.83%	48.62%

Correlation

The correlation between BKEM and BKMC is 0.61, 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	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (All Time) Calculated using the full available price history since Apr 27, 2020	0.63

The correlation between BKEM and BKMC has been stable across timeframes, ranging from 0.60 to 0.63 - a consistent structural relationship.

BKEM vs. BKMC - Sectors Allocation Comparison

Sectors	BKEM	BKMC
Technology	35.9%	16.2%
Financial Services	18.9%	12.4%
Consumer Cyclical	9.7%	9.1%
Industrials	9.0%	22.9%
Communication Services	6.6%	3.5%
Basic Materials	6.4%	4.6%
Energy	4.0%	3.3%
Healthcare	3.2%	11.4%
Consumer Defensive	2.9%	4.3%
Utilities	2.3%	2.4%
Real Estate	1.2%	7.6%

Return for Risk

BKEM vs. BKMC — 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

BKMC

BKMC Risk / Return Rank: 46
BKMC Sharpe Ratio Rank: 43
BKMC Sortino Ratio Rank: 45
BKMC Omega Ratio Rank: 41
BKMC Calmar Ratio Rank: 48
BKMC Martin Ratio Rank: 53

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. BKMC - 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 Mid Cap Core Equity ETF (BKMC). 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	BKMC	Difference
Sharpe ratio: Return per unit of total volatility	2.95	1.53	+1.42
Sortino ratio: Return per unit of downside risk	3.83	2.26	+1.57
Omega ratio: Gain probability vs. loss probability	1.52	1.27	+0.25
Calmar ratio: Return relative to maximum drawdown	4.39	2.36	+2.03
Martin ratio: Return relative to average drawdown	16.85	9.06	+7.78
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. BKMC - Sharpe Ratio Comparison

The current BKEM Sharpe Ratio is 2.95, which is higher than the BKMC Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of BKEM and BKMC, 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	BKMC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.95	1.53	+1.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	0.42	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	0.82	-0.07

Drawdowns

BKEM vs. BKMC - Drawdown Comparison

The maximum BKEM drawdown since its inception was -39.48%, which is greater than BKMC's maximum drawdown of -25.02%. Use the drawdown chart below to compare losses from any high point for BKEM and BKMC.

Drawdown Indicators

	BKEM	BKMC	Difference
Max Drawdown Largest peak-to-trough decline	-39.48%	-25.02%	-14.46%
Max Drawdown (1Y) Largest decline over 1 year	-13.11%	-9.82%	-3.29%
Max Drawdown (3Y) Largest decline over 3 years	-18.38%	-23.68%	+5.30%
Max Drawdown (5Y) Largest decline over 5 years	-36.53%	-25.02%	-11.51%
Current Drawdown Current decline from peak	-0.95%	-0.34%	-0.61%
Average Drawdown Average peak-to-trough decline	-16.00%	-6.55%	-9.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.41%	2.55%	+0.86%

Volatility

BKEM vs. BKMC - Volatility Comparison

BNY Mellon Emerging Markets Equity ETF (BKEM) has a higher volatility of 8.10% compared to BNY Mellon US Mid Cap Core Equity ETF (BKMC) at 4.16%. This indicates that BKEM's price experiences larger fluctuations and is considered to be riskier than BKMC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BKEM	BKMC	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.10%	4.16%	+3.94%
Volatility (6M) Calculated over the trailing 6-month period	16.75%	10.93%	+5.82%
Volatility (1Y) Calculated over the trailing 1-year period	19.46%	15.12%	+4.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.73%	18.77%	-0.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.12%	19.16%	-0.04%

BKEM vs. BKMC - Expense Ratio Comparison

BKEM has a 0.11% expense ratio, which is higher than BKMC's 0.04% 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. BKMC - Dividend Comparison

BKEM's dividend yield for the trailing twelve months is around 1.45%, more than BKMC's 1.38% 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%
BKMC BNY Mellon US Mid Cap Core Equity ETF	1.38%	1.35%	1.54%	1.38%	1.63%	1.15%	0.86%

Frequently Asked Questions

Can I hold both BKEM and BKMC in my portfolio?

BKEM and BKMC have a correlation of 0.61, 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 BKMC?

BKEM has higher volatility (8.10%) compared to BKMC (4.16%). In terms of maximum drawdown, BKEM dropped -39.48% vs BKMC's -25.02%.

Which ETF is better, BKEM or BKMC?

On 5-year performance, BKMC leads with 7.85% vs 7.37% for BKEM. On fees, BKMC is cheaper at 0.04% per year. On volatility, BKMC has been the lower-risk option at 4.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BKEM or BKMC?

Over the 5-year period, BKMC has performed better with a 7.85% 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 BKMC?

BKMC is cheaper with a 0.04% expense ratio, compared with 0.11% for BKEM.

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

BKEM has the higher dividend yield at 1.45%, compared with 1.38% for BKMC.

What is the main difference between BKEM and BKMC?

BKEM is categorized as Asia Pacific Equities, while BKMC is Mid Cap Growth Equities. BKEM tracks Morningstar Emerging Markets Large Cap Index, while BKMC tracks Morningstar US Mid Cap Index. Their fees differ too: 0.11% for BKEM and 0.04% for BKMC.

Which has better risk-adjusted returns?

BKEM currently has the higher Sharpe Ratio (2.95 vs 1.53), 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.