BKEM vs. BKSE

Last updated Jun 4, 2026

BKEM (BNY Mellon Emerging Markets Equity ETF) and BKSE (BNY Mellon US Small 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 BKSE is a Small Cap Growth Equities fund tracking the Morningstar US Small Cap Index. Both are passively managed. Over the past 5 years, BKEM returned 7.37%/yr vs 6.89%/yr for BKSE. A 0.60 correlation means they provide meaningful diversification when combined. BKEM charges 0.11%/yr vs 0.04%/yr for BKSE.

Performance

BKEM vs. BKSE - 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 Small Cap Core Equity ETF (BKSE). 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 BKSE's 13.03% return.

BKEM

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

BKSE

• 1D: -1.11%
• 1M: 2.60%
• YTD: 13.03%
• 6M: 12.11%
• 1Y: 32.65%
• 3Y*: 17.40%
• 5Y*: 6.89%
• 10Y*: —

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

BKEM vs. BKSE - 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%
BKSE BNY Mellon US Small Cap Core Equity ETF	13.03%	13.09%	9.56%	22.37%	-18.44%	16.18%	58.04%

Correlation

The correlation between BKEM and BKSE is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (All Time) Calculated using the full available price history since Apr 27, 2020	0.60

The correlation between BKEM and BKSE has been stable across timeframes, ranging from 0.58 to 0.61 - a consistent structural relationship.

BKEM vs. BKSE - Sectors Allocation Comparison

Sectors	BKEM	BKSE
Technology	35.9%	16.8%
Financial Services	18.9%	16.4%
Consumer Cyclical	9.7%	13.3%
Industrials	9.0%	15.4%
Communication Services	6.6%	2.2%
Basic Materials	6.4%	4.5%
Energy	4.0%	7.0%
Healthcare	3.2%	11.4%
Consumer Defensive	2.9%	3.2%
Utilities	2.3%	3.4%
Real Estate	1.2%	6.6%

Return for Risk

BKEM vs. BKSE — 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

BKSE

BKSE Risk / Return Rank: 60
BKSE Sharpe Ratio Rank: 54
BKSE Sortino Ratio Rank: 57
BKSE Omega Ratio Rank: 50
BKSE Calmar Ratio Rank: 70
BKSE Martin Ratio Rank: 66

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. BKSE - 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 Small Cap Core Equity ETF (BKSE). 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	BKSE	Difference
Sharpe ratio: Return per unit of total volatility	2.95	1.87	+1.09
Sortino ratio: Return per unit of downside risk	3.83	2.71	+1.11
Omega ratio: Gain probability vs. loss probability	1.52	1.32	+0.20
Calmar ratio: Return relative to maximum drawdown	4.39	3.49	+0.90
Martin ratio: Return relative to average drawdown	16.85	12.15	+4.69
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. BKSE - Sharpe Ratio Comparison

The current BKEM Sharpe Ratio is 2.95, which is higher than the BKSE Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of BKEM and BKSE, 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	BKSE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.95	1.87	+1.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	0.32	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	0.73	+0.02

Drawdowns

BKEM vs. BKSE - Drawdown Comparison

The maximum BKEM drawdown since its inception was -39.48%, which is greater than BKSE's maximum drawdown of -29.08%. Use the drawdown chart below to compare losses from any high point for BKEM and BKSE.

Drawdown Indicators

	BKEM	BKSE	Difference
Max Drawdown Largest peak-to-trough decline	-39.48%	-29.08%	-10.40%
Max Drawdown (1Y) Largest decline over 1 year	-13.11%	-9.40%	-3.71%
Max Drawdown (3Y) Largest decline over 3 years	-18.38%	-26.76%	+8.38%
Max Drawdown (5Y) Largest decline over 5 years	-36.53%	-29.08%	-7.45%
Current Drawdown Current decline from peak	-0.95%	-1.11%	+0.16%
Average Drawdown Average peak-to-trough decline	-16.00%	-9.06%	-6.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.41%	2.69%	+0.72%

Volatility

BKEM vs. BKSE - Volatility Comparison

BNY Mellon Emerging Markets Equity ETF (BKEM) has a higher volatility of 8.10% compared to BNY Mellon US Small Cap Core Equity ETF (BKSE) at 4.47%. This indicates that BKEM's price experiences larger fluctuations and is considered to be riskier than BKSE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BKEM	BKSE	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.10%	4.47%	+3.63%
Volatility (6M) Calculated over the trailing 6-month period	16.75%	11.96%	+4.79%
Volatility (1Y) Calculated over the trailing 1-year period	19.46%	17.63%	+1.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.73%	21.43%	-2.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.12%	22.30%	-3.18%

BKEM vs. BKSE - Expense Ratio Comparison

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

BKEM's dividend yield for the trailing twelve months is around 1.45%, more than BKSE's 1.16% 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%
BKSE BNY Mellon US Small Cap Core Equity ETF	1.16%	1.26%	1.55%	1.38%	1.50%	1.17%	0.82%

Frequently Asked Questions

Can I hold both BKEM and BKSE in my portfolio?

BKEM and BKSE have a correlation of 0.60, 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 BKSE?

BKEM has higher volatility (8.10%) compared to BKSE (4.47%). In terms of maximum drawdown, BKEM dropped -39.48% vs BKSE's -29.08%.

Which ETF is better, BKEM or BKSE?

On 5-year performance, BKEM leads with 7.37% vs 6.89% for BKSE. On fees, BKSE is cheaper at 0.04% per year. On volatility, BKSE has been the lower-risk option at 4.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BKEM or BKSE?

Over the 5-year period, BKEM has performed better with a 7.37% return vs 6.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BKEM or BKSE?

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

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

BKEM has the higher dividend yield at 1.45%, compared with 1.16% for BKSE.

What is the main difference between BKEM and BKSE?

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

Which has better risk-adjusted returns?

BKEM currently has the higher Sharpe Ratio (2.95 vs 1.87), 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.