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BKF vs. EMDM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BKF vs. EMDM

Last updated Aug 4, 2026
Documentation

BKF (iShares MSCI BRIC ETF) and EMDM (First Trust Bloomberg Emerging Market Democracies ETF) are both Emerging Markets Equities funds - BKF tracks the MSCI BRIC Index while EMDM tracks the Bloomberg Emerging Market Democracies Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, BKF returned 6.64%/yr vs 28.08%/yr for EMDM. Their 0.67 correlation means they have sometimes moved together and sometimes differently. BKF charges 0.69%/yr vs 0.75%/yr for EMDM.

Performance

BKF vs. EMDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI BRIC ETF (BKF) and First Trust Bloomberg Emerging Market Democracies ETF (EMDM). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, BKF achieves a -5.54% return, which is significantly lower than EMDM's 28.39% return.

BKF

1D
0.32%
1M
6.30%
6M
-8.32%
YTD
-5.54%
1Y
2.20%
3Y*
6.64%
5Y*
-1.78%
10Y*
4.35%
ALL TIME*
0.21%

EMDM

1D
0.42%
1M
-3.12%
6M
12.42%
YTD
28.39%
1Y
66.69%
3Y*
28.08%
5Y*
—
10Y*
—
ALL TIME*
26.54%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

BKF

iShares MSCI BRIC ETF
$152.87K$247.53K$560.11K

EMDM

First Trust Bloomberg Emerging Market Democracies ETF
$370.33K$752.09K$541.22K

BKF vs. EMDM - Yearly Performance Comparison

2026 (YTD)202520242023
BKF
iShares MSCI BRIC ETF		-5.54%22.30%9.24%-0.34%
EMDM
First Trust Bloomberg Emerging Market Democracies ETF		28.39%59.68%-4.93%14.75%

Correlation

The correlation between BKF and EMDM is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.62

Correlation (3Y)
Balances recent behavior with more history.

0.66

Correlation (All Time)
Calculated using the full available price history since Mar 3, 2023

0.67

The correlation between BKF and EMDM has been stable across timeframes, ranging from 0.62 to 0.67 - a consistent structural relationship.

BKF vs. EMDM - Sectors Allocation Comparison

Sectors
BKF
EMDM

Financial Services

25.2%
25.6%

Consumer Cyclical

17.8%
5.3%

Communication Services

12.1%
4.0%

Technology

9.0%
39.9%

Industrials

7.7%
2.6%

Basic Materials

7.4%
12.7%

Energy

6.5%
4.8%

Healthcare

5.3%
0.5%

Consumer Defensive

4.0%
3.1%

Utilities

3.5%
1.5%

Real Estate

1.3%

-

Financial Services

BKF
25.2%
EMDM
25.6%

Consumer Cyclical

BKF
17.8%
EMDM
5.3%

Communication Services

BKF
12.1%
EMDM
4.0%

Technology

BKF
9.0%
EMDM
39.9%

Industrials

BKF
7.7%
EMDM
2.6%

Basic Materials

BKF
7.4%
EMDM
12.7%

Energy

BKF
6.5%
EMDM
4.8%

Healthcare

BKF
5.3%
EMDM
0.5%

Consumer Defensive

BKF
4.0%
EMDM
3.1%

Utilities

BKF
3.5%
EMDM
1.5%

Real Estate

BKF
1.3%
EMDM

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI BRIC ETF

First Trust Bloomberg Emerging Market Democracies ETF

Often compared with BKF:
BKF vs. VWOBKF vs. FPADXBKF vs. SPYBKF vs. VOOBKF vs. FSPSXBKF vs. VBBKF vs. PRMSX
Often compared with EMDM:
EMDM vs. FRDMEMDM vs. FTHFEMDM vs. EMEQEMDM vs. VOOEMDM vs. EUFNEMDM vs. AIAEMDM vs. EMM

Return for Risk

BKF vs. EMDM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
BKF
BKF Risk / Return Rank: 1313
Overall Rank
BKF Sharpe Ratio Rank: 1414
Sharpe Ratio Rank
BKF Sortino Ratio Rank: 1313
Sortino Ratio Rank
BKF Omega Ratio Rank: 1313
Omega Ratio Rank
BKF Calmar Ratio Rank: 1313
Calmar Ratio Rank
BKF Martin Ratio Rank: 1313
Martin Ratio Rank
EMDM
EMDM Risk / Return Rank: 8989
Overall Rank
EMDM Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
EMDM Sortino Ratio Rank: 8585
Sortino Ratio Rank
EMDM Omega Ratio Rank: 8989
Omega Ratio Rank
EMDM Calmar Ratio Rank: 9292
Calmar Ratio Rank
EMDM Martin Ratio Rank: 8888
Martin Ratio Rank
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.

BKF vs. EMDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI BRIC ETF (BKF) and First Trust Bloomberg Emerging Market Democracies ETF (EMDM). 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.

BKFEMDMDifference
Sharpe ratioReturn per unit of total volatility
0.14
2.41

-2.27

Sortino ratioReturn per unit of downside risk
0.31
2.94

-2.63

Omega ratioGain probability vs. loss probability

1.04

1.42

-0.38

Calmar ratioReturn relative to maximum drawdown

0.14

4.28

-4.14

Martin ratioReturn relative to average drawdown

0.30

13.58

-13.28

BKF vs. EMDM - Sharpe Ratio Comparison

The current BKF Sharpe Ratio is 0.14, which is lower than the EMDM Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of BKF and EMDM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

BKF vs. EMDM - Drawdown Comparison

The maximum BKF drawdown since its inception was -70.29%, which is greater than EMDM's maximum drawdown of -18.81%. Use the drawdown chart below to compare losses from any high point for BKF and EMDM.

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Drawdown Indicators

BKFEMDMDifference

Max Drawdown

Largest peak-to-trough decline

-70.29%

-18.81%

-51.48%

Max Drawdown (1Y)

Largest decline over 1 year

-15.45%

-15.65%

+0.20%

Max Drawdown (3Y)

Largest decline over 3 years

-18.60%

-18.81%

+0.21%

Max Drawdown (5Y)

Largest decline over 5 years

-40.90%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-49.20%

—

—

Current Drawdown

Current decline from peak

-23.50%

-10.51%

-12.99%

Average Drawdown

Average peak-to-trough decline

-28.09%

-4.21%

-23.88%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.31%

4.93%

+2.38%

Volatility

BKF vs. EMDM - Volatility Comparison

The current volatility for iShares MSCI BRIC ETF (BKF) is 3.78%, while First Trust Bloomberg Emerging Market Democracies ETF (EMDM) has a volatility of 9.92%. This indicates that BKF experiences smaller price fluctuations and is considered to be less risky than EMDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BKFEMDMDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.78%

9.92%

-6.14%

Volatility (6M)

Calculated over the trailing 6-month period

12.65%

25.36%

-12.71%

Volatility (1Y)

Calculated over the trailing 1-year period

16.02%

27.91%

-11.89%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.33%

21.15%

+0.18%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.68%

21.15%

+0.53%

BKF vs. EMDM - Expense Ratio Comparison

BKF has a 0.69% expense ratio, which is lower than EMDM's 0.75% expense ratio.

Dividends

BKF vs. EMDM - Dividend Comparison

BKF's dividend yield for the trailing twelve months is around 1.54%, less than EMDM's 2.95% yield.

PositionTTM20252024202320222021202020192018201720162015
BKF
iShares MSCI BRIC ETF		1.54%1.79%2.37%1.68%2.04%2.93%1.02%1.66%2.33%1.51%1.82%3.15%
EMDM
First Trust Bloomberg Emerging Market Democracies ETF		2.95%3.57%5.87%2.16%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

BKF and EMDM have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EMDM has higher volatility (9.92%) compared to BKF (3.78%). In terms of maximum drawdown, BKF dropped -70.29% vs EMDM's -18.81%.

On 3-year performance, EMDM leads with 28.08% vs 6.64% for BKF. On fees, BKF is cheaper at 0.69% per year. On volatility, BKF has been the lower-risk option at 3.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, EMDM has performed better with a 28.08% return vs 6.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

BKF is cheaper with a 0.69% expense ratio, compared with 0.75% for EMDM.

EMDM has the higher dividend yield at 2.95%, compared with 1.54% for BKF.

BKF tracks MSCI BRIC Index, while EMDM tracks Bloomberg Emerging Market Democracies Index - Benchmark TR Net. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.69% for BKF and 0.75% for EMDM.

EMDM currently has the higher Sharpe Ratio (2.41 vs 0.14), 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.

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