BKEM vs. VPL

Last updated Jun 24, 2026

BKEM (BNY Mellon Emerging Markets Equity ETF) and VPL (Vanguard FTSE Pacific ETF) are both Asia Pacific Equities funds - BKEM tracks the Morningstar Emerging Markets Large Cap Index while VPL tracks the FTSE Developed Asia Pacific Index. Both are passively managed. Over the past 5 years, BKEM returned 6.77%/yr vs 9.86%/yr for VPL. A 0.78 correlation means they provide meaningful diversification when combined. BKEM charges 0.11%/yr vs 0.08%/yr for VPL.

Performance

BKEM vs. VPL - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with BKEM having a 24.97% return and VPL slightly higher at 25.73%.

BKEM

• 1D: -5.37%
• 1M: 2.20%
• YTD: 24.97%
• 6M: 25.93%
• 1Y: 47.05%
• 3Y*: 22.54%
• 5Y*: 6.77%
• 10Y*: —

VPL

• 1D: -5.86%
• 1M: 1.56%
• YTD: 25.73%
• 6M: 25.83%
• 1Y: 47.86%
• 3Y*: 22.03%
• 5Y*: 9.86%
• 10Y*: 10.76%

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

BKEM vs. VPL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BKEM BNY Mellon Emerging Markets Equity ETF	24.97%	30.55%	7.53%	8.68%	-19.43%	-3.91%	48.44%
VPL Vanguard FTSE Pacific ETF	25.73%	32.66%	1.68%	15.58%	-15.20%	1.10%	42.39%

Correlation

The correlation between BKEM and VPL is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (All Time) Calculated using the full available price history since Apr 24, 2020	0.78

The correlation between BKEM and VPL has been stable across timeframes, ranging from 0.77 to 0.82 - a consistent structural relationship.

BKEM vs. VPL - Sectors Allocation Comparison

Sectors	BKEM	VPL
Technology	43.0%	22.6%
Financial Services	16.9%	19.3%
Consumer Cyclical	8.7%	9.6%
Industrials	8.1%	20.5%
Communication Services	5.8%	4.8%
Basic Materials	5.7%	7.3%
Energy	3.4%	1.6%
Healthcare	2.7%	5.0%
Consumer Defensive	2.6%	3.5%
Utilities	2.0%	1.6%
Real Estate	1.1%	4.3%

Return for Risk

BKEM vs. VPL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BKEM

BKEM Risk / Return Rank: 71
BKEM Sharpe Ratio Rank: 71
BKEM Sortino Ratio Rank: 62
BKEM Omega Ratio Rank: 72
BKEM Calmar Ratio Rank: 75
BKEM Martin Ratio Rank: 74

VPL

VPL Risk / Return Rank: 70
VPL Sharpe Ratio Rank: 70
VPL Sortino Ratio Rank: 61
VPL Omega Ratio Rank: 72
VPL Calmar Ratio Rank: 74
VPL Martin Ratio Rank: 75

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. VPL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Emerging Markets Equity ETF (BKEM) and Vanguard FTSE Pacific ETF (VPL). 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	VPL	Difference
Sharpe ratio: Return per unit of total volatility	2.14	2.16	-0.02
Sortino ratio: Return per unit of downside risk	2.71	2.76	-0.04
Omega ratio: Gain probability vs. loss probability	1.40	1.40	-0.01
Calmar ratio: Return relative to maximum drawdown	3.61	3.61	0.00
Martin ratio: Return relative to average drawdown	13.18	13.71	-0.53

BKEM vs. VPL - Sharpe Ratio Comparison

The current BKEM Sharpe Ratio is 2.14, which is comparable to the VPL Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of BKEM and VPL, 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. VPL - Drawdown Comparison

The maximum BKEM drawdown since its inception was -39.48%, smaller than the maximum VPL drawdown of -55.49%. Use the drawdown chart below to compare losses from any high point for BKEM and VPL.

Drawdown Indicators

	BKEM	VPL	Difference
Max Drawdown Largest peak-to-trough decline	-39.48%	-55.49%	+16.01%
Max Drawdown (1Y) Largest decline over 1 year	-13.11%	-13.33%	+0.22%
Max Drawdown (3Y) Largest decline over 3 years	-18.38%	-16.35%	-2.03%
Max Drawdown (5Y) Largest decline over 5 years	-36.20%	-31.09%	-5.11%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.90%	—
Current Drawdown Current decline from peak	-5.37%	-5.86%	+0.49%
Average Drawdown Average peak-to-trough decline	-15.89%	-11.61%	-4.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.58%	3.50%	+0.08%

Volatility

BKEM vs. VPL - Volatility Comparison

BNY Mellon Emerging Markets Equity ETF (BKEM) and Vanguard FTSE Pacific ETF (VPL) have volatilities of 12.30% and 11.91%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BKEM	VPL	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.30%	11.91%	+0.39%
Volatility (6M) Calculated over the trailing 6-month period	20.07%	19.95%	+0.12%
Volatility (1Y) Calculated over the trailing 1-year period	22.13%	22.25%	-0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.35%	17.93%	+1.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.55%	17.52%	+2.03%

BKEM vs. VPL - Expense Ratio Comparison

BKEM has a 0.11% expense ratio, which is higher than VPL's 0.08% 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. VPL - Dividend Comparison

BKEM's dividend yield for the trailing twelve months is around 1.51%, less than VPL's 2.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BKEM BNY Mellon Emerging Markets Equity ETF	1.51%	2.25%	2.76%	3.02%	3.15%	2.22%	1.78%	0.00%	0.00%	0.00%	0.00%	0.00%
VPL Vanguard FTSE Pacific ETF	2.66%	4.01%	3.15%	3.12%	2.75%	3.19%	1.81%	2.84%	3.06%	2.57%	2.65%	2.43%

Frequently Asked Questions

Can I hold both BKEM and VPL in my portfolio?

BKEM and VPL have a correlation of 0.82, 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 VPL?

BKEM has higher volatility (12.30%) compared to VPL (11.91%). In terms of maximum drawdown, BKEM dropped -39.48% vs VPL's -55.49%.

Which ETF is better, BKEM or VPL?

On 5-year performance, VPL leads with 9.86% vs 6.77% for BKEM. On fees, VPL is cheaper at 0.08% per year. On volatility, VPL has been the lower-risk option at 11.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BKEM or VPL?

Over the 5-year period, VPL has performed better with a 9.86% return vs 6.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BKEM or VPL?

VPL is cheaper with a 0.08% expense ratio, compared with 0.11% for BKEM.

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

VPL has the higher dividend yield at 2.66%, compared with 1.51% for BKEM.

What is the main difference between BKEM and VPL?

BKEM tracks Morningstar Emerging Markets Large Cap Index, while VPL tracks FTSE Developed Asia Pacific Index. They also come from different issuers: BNY Mellon and Vanguard. Their fees differ too: 0.11% for BKEM and 0.08% for VPL.

Which has better risk-adjusted returns?

VPL currently has the higher Sharpe Ratio (2.16 vs 2.14), 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.