BKF vs. ASEA

Last updated Jun 24, 2026

BKF (iShares MSCI BRIC ETF) and ASEA (Global X FTSE Southeast Asia ETF) are both Asia Pacific Equities funds - BKF tracks the MSCI BRIC Index while ASEA tracks the FTSE/ASEAN 40 Index. Both are passively managed. Over the past 10 years, BKF returned 4.92%/yr vs 7.73%/yr for ASEA. A 0.65 correlation means they provide meaningful diversification when combined. BKF charges 0.69%/yr vs 0.65%/yr for ASEA.

Performance

BKF vs. ASEA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI BRIC ETF (BKF) and Global X FTSE Southeast Asia ETF (ASEA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BKF achieves a -10.85% return, which is significantly lower than ASEA's 9.39% return. Over the past 10 years, BKF has underperformed ASEA with an annualized return of 4.92%, while ASEA has yielded a comparatively higher 7.73% annualized return.

BKF

• 1D: -2.58%
• 1M: -3.70%
• YTD: -10.85%
• 6M: -11.19%
• 1Y: -2.61%
• 3Y*: 6.90%
• 5Y*: -4.53%
• 10Y*: 4.92%

ASEA

• 1D: -1.57%
• 1M: 0.65%
• YTD: 9.39%
• 6M: 8.17%
• 1Y: 28.84%
• 3Y*: 15.15%
• 5Y*: 10.48%
• 10Y*: 7.73%

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

BKF vs. ASEA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BKF iShares MSCI BRIC ETF	-10.85%	22.30%	9.24%	1.27%	-21.78%	-11.87%	16.52%	22.93%	-13.80%	41.80%
ASEA Global X FTSE Southeast Asia ETF	9.39%	19.80%	9.82%	4.88%	5.24%	4.66%	-7.88%	8.34%	-7.58%	35.06%

Correlation

The correlation between BKF and ASEA is 0.57, 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	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (10Y) Calculated over the trailing 10-year period	0.58
Correlation (All Time) Calculated using the full available price history since Feb 17, 2011	0.65

The correlation between BKF and ASEA shifts across timeframes, from 0.53 (3 years) to 0.65 (all time), reflecting how their relationship changes across market environments.

BKF vs. ASEA - Sectors Allocation Comparison

Sectors	BKF	ASEA
Financial Services	23.9%	11.3%
Consumer Cyclical	18.4%	0.9%
Communication Services	12.3%	4.0%
Technology	9.6%	-
Basic Materials	7.6%	0.5%
Industrials	7.5%	6.3%
Energy	6.9%	3.2%
Healthcare	5.0%	1.0%
Consumer Defensive	3.9%	1.3%
Utilities	3.7%	1.5%
Real Estate	1.3%	2.8%

Return for Risk

BKF vs. ASEA — Risk / Return Rank

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

BKF

BKF Risk / Return Rank: 7
BKF Sharpe Ratio Rank: 7
BKF Sortino Ratio Rank: 7
BKF Omega Ratio Rank: 7
BKF Calmar Ratio Rank: 7
BKF Martin Ratio Rank: 7

ASEA

ASEA Risk / Return Rank: 65
ASEA Sharpe Ratio Rank: 65
ASEA Sortino Ratio Rank: 68
ASEA Omega Ratio Rank: 63
ASEA Calmar Ratio Rank: 73
ASEA Martin Ratio Rank: 56

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.

BKF vs. ASEA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI BRIC ETF (BKF) and Global X FTSE Southeast Asia ETF (ASEA). 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.

	BKF	ASEA	Difference
Sharpe ratio: Return per unit of total volatility	-0.16	2.02	-2.18
Sortino ratio: Return per unit of downside risk	-0.12	2.90	-3.03
Omega ratio: Gain probability vs. loss probability	0.99	1.36	-0.37
Calmar ratio: Return relative to maximum drawdown	-0.18	3.50	-3.68
Martin ratio: Return relative to average drawdown	-0.44	9.40	-9.84

BKF vs. ASEA - Sharpe Ratio Comparison

The current BKF Sharpe Ratio is -0.16, which is lower than the ASEA Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of BKF and ASEA, 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

BKF vs. ASEA - Drawdown Comparison

The maximum BKF drawdown since its inception was -70.29%, which is greater than ASEA's maximum drawdown of -44.16%. Use the drawdown chart below to compare losses from any high point for BKF and ASEA.

Drawdown Indicators

	BKF	ASEA	Difference
Max Drawdown Largest peak-to-trough decline	-70.29%	-44.16%	-26.13%
Max Drawdown (1Y) Largest decline over 1 year	-14.62%	-8.28%	-6.34%
Max Drawdown (3Y) Largest decline over 3 years	-18.60%	-22.20%	+3.60%
Max Drawdown (5Y) Largest decline over 5 years	-44.94%	-22.20%	-22.74%
Max Drawdown (10Y) Largest decline over 10 years	-49.20%	-44.16%	-5.04%
Current Drawdown Current decline from peak	-27.80%	-2.91%	-24.89%
Average Drawdown Average peak-to-trough decline	-28.10%	-10.63%	-17.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.91%	3.08%	+2.83%

Volatility

BKF vs. ASEA - Volatility Comparison

iShares MSCI BRIC ETF (BKF) has a higher volatility of 5.42% compared to Global X FTSE Southeast Asia ETF (ASEA) at 4.52%. This indicates that BKF's price experiences larger fluctuations and is considered to be riskier than ASEA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BKF	ASEA	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.42%	4.52%	+0.90%
Volatility (6M) Calculated over the trailing 6-month period	13.05%	11.61%	+1.44%
Volatility (1Y) Calculated over the trailing 1-year period	15.91%	14.37%	+1.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.59%	14.73%	+6.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.73%	17.54%	+4.19%

BKF vs. ASEA - Expense Ratio Comparison

BKF has a 0.69% expense ratio, which is higher than ASEA's 0.65% expense ratio.

Dividends

BKF vs. ASEA - Dividend Comparison

BKF's dividend yield for the trailing twelve months is around 1.63%, less than ASEA's 3.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASEA Global X FTSE Southeast Asia ETF	3.61%	3.95%	3.61%	3.76%	2.23%	4.19%	2.27%	2.51%	3.08%	1.59%	2.78%	3.64%
BKF iShares MSCI BRIC ETF	1.63%	1.79%	2.37%	1.68%	2.04%	2.93%	1.02%	1.66%	2.33%	1.51%	1.82%	3.15%

Frequently Asked Questions

Can I hold both BKF and ASEA in my portfolio?

BKF and ASEA have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BKF or ASEA?

BKF has higher volatility (5.42%) compared to ASEA (4.52%). In terms of maximum drawdown, BKF dropped -70.29% vs ASEA's -44.16%.

Which ETF is better, BKF or ASEA?

On 10-year performance, ASEA leads with 7.73% vs 4.92% for BKF. On fees, ASEA is cheaper at 0.65% per year. On volatility, ASEA has been the lower-risk option at 4.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BKF or ASEA?

Over the 10-year period, ASEA has performed better with a 7.73% return vs 4.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BKF or ASEA?

ASEA is cheaper with a 0.65% expense ratio, compared with 0.69% for BKF.

Which ETF pays a higher dividend yield, BKF or ASEA?

ASEA has the higher dividend yield at 3.61%, compared with 1.63% for BKF.

What is the main difference between BKF and ASEA?

BKF tracks MSCI BRIC Index, while ASEA tracks FTSE/ASEAN 40 Index. They also come from different issuers: iShares and Global X. Their fees differ too: 0.69% for BKF and 0.65% for ASEA.

Which has better risk-adjusted returns?

ASEA currently has the higher Sharpe Ratio (2.02 vs -0.16), 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.