BKEM vs. IAK

Last updated Aug 4, 2026

BKEM (BNY Mellon Emerging Markets Equity ETF) and IAK (iShares U.S. Insurance ETF) are both exchange-traded funds - BKEM is a Emerging Markets Equities fund tracking the Morningstar Emerging Markets Large Cap Index, while IAK is a Financials Equities fund tracking the Dow Jones U.S. Select Insurance Index. Both are passively managed. Over the past 5 years, BKEM returned 6.90%/yr vs 15.99%/yr for IAK. Their 0.24 correlation means their historical movements had little consistent relationship. BKEM charges 0.11%/yr vs 0.38%/yr for IAK.

Performance

BKEM vs. IAK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon Emerging Markets Equity ETF (BKEM) and iShares U.S. Insurance ETF (IAK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BKEM achieves a 19.61% return, which is significantly higher than IAK's 10.11% return.

BKEM

• 1D: 0.10%
• 1M: -2.18%
• 6M: 9.90%
• YTD: 19.61%
• 1Y: 36.20%
• 3Y*: 19.15%
• 5Y*: 6.90%
• 10Y*: —
• ALL TIME*: 12.53%

IAK

• 1D: 0.03%
• 1M: -0.03%
• 6M: 12.56%
• YTD: 10.11%
• 1Y: 19.67%
• 3Y*: 19.67%
• 5Y*: 15.99%
• 10Y*: 13.18%
• ALL TIME*: 7.39%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BKEM BNY Mellon Emerging Markets Equity ETF	$481.37K	$317.95K	$245.58K
IAK iShares U.S. Insurance ETF	$15.27M	$20.59M	$12.29M

BKEM vs. IAK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BKEM BNY Mellon Emerging Markets Equity ETF	19.61%	30.55%	7.53%	8.68%	-19.43%	-3.91%	48.44%
IAK iShares U.S. Insurance ETF	10.11%	9.50%	28.25%	11.28%	11.33%	26.84%	38.95%

Correlation

The correlation between BKEM and IAK is -0.25, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.25
Correlation (3Y) Balances recent behavior with more history.	0.02
Correlation (5Y) Shows whether the relationship held over a longer period.	0.20
Correlation (All Time) Calculated using the full available price history since Apr 24, 2020	0.24

The correlation between BKEM and IAK shifts across timeframes, from -0.25 (1 year) to 0.24 (all time), reflecting how their relationship changes across market environments.

BKEM vs. IAK - Sectors Allocation Comparison

Sectors	BKEM	IAK
Technology	44.5%	-
Financial Services	17.5%	99.3%
Consumer Cyclical	7.7%	-
Industrials	7.6%	-
Communication Services	5.8%	-
Basic Materials	5.4%	-
Energy	3.1%	-
Healthcare	2.7%	0.7%
Consumer Defensive	2.6%	-
Utilities	2.0%	-
Real Estate	1.1%	-

Return for Risk

BKEM vs. IAK — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BKEM

BKEM Risk / Return Rank: 64
BKEM Sharpe Ratio Rank: 63
BKEM Sortino Ratio Rank: 57
BKEM Omega Ratio Rank: 64
BKEM Calmar Ratio Rank: 72
BKEM Martin Ratio Rank: 64

IAK

IAK Risk / Return Rank: 54
IAK Sharpe Ratio Rank: 49
IAK Sortino Ratio Rank: 49
IAK Omega Ratio Rank: 47
IAK Calmar Ratio Rank: 72
IAK Martin Ratio Rank: 52

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BKEM vs. IAK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Emerging Markets Equity ETF (BKEM) and iShares U.S. Insurance ETF (IAK). 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	IAK	Difference
Sharpe ratio: Return per unit of total volatility	1.53	1.24	+0.29
Sortino ratio: Return per unit of downside risk	2.05	1.81	+0.24
Omega ratio: Gain probability vs. loss probability	1.28	1.22	+0.06
Calmar ratio: Return relative to maximum drawdown	2.62	2.59	+0.02
Martin ratio: Return relative to average drawdown	8.01	6.29	+1.72

BKEM vs. IAK - Sharpe Ratio Comparison

The current BKEM Sharpe Ratio is 1.53, which is comparable to the IAK Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of BKEM and IAK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BKEM vs. IAK - Drawdown Comparison

The maximum BKEM drawdown since its inception was -39.48%, smaller than the maximum IAK drawdown of -77.38%. Use the drawdown chart below to compare losses from any high point for BKEM and IAK.

Drawdown Indicators

	BKEM	IAK	Difference
Max Drawdown Largest peak-to-trough decline	-39.48%	-77.38%	+37.90%
Max Drawdown (1Y) Largest decline over 1 year	-13.91%	-7.62%	-6.29%
Max Drawdown (3Y) Largest decline over 3 years	-18.38%	-11.58%	-6.80%
Max Drawdown (5Y) Largest decline over 5 years	-33.28%	-14.76%	-18.52%
Max Drawdown (10Y) Largest decline over 10 years	—	-44.95%	—
Current Drawdown Current decline from peak	-9.43%	-3.20%	-6.23%
Average Drawdown Average peak-to-trough decline	-15.75%	-16.01%	+0.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.53%	3.13%	+1.40%

Volatility

BKEM vs. IAK - Volatility Comparison

BNY Mellon Emerging Markets Equity ETF (BKEM) has a higher volatility of 9.11% compared to iShares U.S. Insurance ETF (IAK) at 6.56%. This indicates that BKEM's price experiences larger fluctuations and is considered to be riskier than IAK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BKEM	IAK	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.11%	6.56%	+2.55%
Volatility (6M) Calculated over the trailing 6-month period	21.78%	12.42%	+9.36%
Volatility (1Y) Calculated over the trailing 1-year period	23.88%	15.99%	+7.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.61%	18.13%	+1.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.75%	20.92%	-1.17%

BKEM vs. IAK - Expense Ratio Comparison

BKEM has a 0.11% expense ratio, which is lower than IAK's 0.38% expense ratio.

Dividends

BKEM vs. IAK - Dividend Comparison

BKEM's dividend yield for the trailing twelve months is around 1.96%, less than IAK's 2.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BKEM BNY Mellon Emerging Markets Equity ETF	1.96%	2.25%	2.76%	3.02%	3.15%	2.22%	1.78%	0.00%	0.00%	0.00%	0.00%	0.00%
IAK iShares U.S. Insurance ETF	2.42%	1.69%	1.49%	1.44%	1.69%	2.26%	2.07%	1.84%	2.33%	1.62%	1.68%	1.62%

Frequently Asked Questions

Can I hold both BKEM and IAK in my portfolio?

BKEM and IAK have a correlation of -0.25, 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 IAK?

BKEM has higher volatility (9.11%) compared to IAK (6.56%). In terms of maximum drawdown, BKEM dropped -39.48% vs IAK's -77.38%.

Which ETF is better, BKEM or IAK?

On 5-year performance, IAK leads with 15.99% vs 6.90% for BKEM. On fees, BKEM is cheaper at 0.11% per year. On volatility, IAK has been the lower-risk option at 6.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BKEM or IAK?

Over the 5-year period, IAK has performed better with a 15.99% return vs 6.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BKEM or IAK?

BKEM is cheaper with a 0.11% expense ratio, compared with 0.38% for IAK.

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

IAK has the higher dividend yield at 2.42%, compared with 1.96% for BKEM.

What is the main difference between BKEM and IAK?

BKEM is categorized as Emerging Markets Equities, while IAK is Financials Equities. BKEM tracks Morningstar Emerging Markets Large Cap Index, while IAK tracks Dow Jones U.S. Select Insurance Index. They also come from different issuers: BNY Mellon and iShares. Their fees differ too: 0.11% for BKEM and 0.38% for IAK.

Which has better risk-adjusted returns?

BKEM currently has the higher Sharpe Ratio (1.53 vs 1.24), 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.