BKF vs. SCHE

Last updated Jun 4, 2026

BKF (iShares MSCI BRIC ETF) and SCHE (Schwab Emerging Markets Equity ETF) are both exchange-traded funds - BKF is a Asia Pacific Equities fund tracking the MSCI BRIC Index, while SCHE is a Emerging Markets Equities fund tracking the FTSE All-World Emerging. Both are passively managed. Over the past 10 years, BKF returned 5.04%/yr vs 8.87%/yr for SCHE. Their correlation of 0.95 suggests significant overlap in exposure. BKF charges 0.69%/yr vs 0.11%/yr for SCHE.

Performance

BKF vs. SCHE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI BRIC ETF (BKF) and Schwab Emerging Markets Equity ETF (SCHE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BKF achieves a -7.96% return, which is significantly lower than SCHE's 11.88% return. Over the past 10 years, BKF has underperformed SCHE with an annualized return of 5.04%, while SCHE has yielded a comparatively higher 8.87% annualized return.

BKF

• 1D: -1.76%
• 1M: -3.91%
• YTD: -7.96%
• 6M: -8.28%
• 1Y: 1.92%
• 3Y*: 8.00%
• 5Y*: -4.06%
• 10Y*: 5.04%

SCHE

• 1D: -1.45%
• 1M: 2.69%
• YTD: 11.88%
• 6M: 12.88%
• 1Y: 30.59%
• 3Y*: 18.21%
• 5Y*: 4.94%
• 10Y*: 8.87%

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

BKF vs. SCHE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BKF iShares MSCI BRIC ETF	-7.96%	22.30%	9.24%	1.27%	-21.78%	-11.87%	16.52%	22.93%	-13.80%	41.80%
SCHE Schwab Emerging Markets Equity ETF	11.88%	26.54%	10.60%	8.93%	-17.84%	-0.65%	14.49%	20.31%	-13.57%	32.70%

Correlation

The correlation between BKF and SCHE is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jan 15, 2010	0.95

The correlation between BKF and SCHE has been stable across timeframes, ranging from 0.86 to 0.95 - a consistent structural relationship.

BKF vs. SCHE - Sectors Allocation Comparison

Sectors	BKF	SCHE
Financial Services	23.7%	13.6%
Consumer Cyclical	19.5%	8.9%
Communication Services	12.6%	5.2%
Technology	7.9%	30.8%
Basic Materials	7.3%	3.9%
Energy	7.2%	3.1%
Industrials	7.2%	4.9%
Healthcare	5.2%	2.8%
Consumer Defensive	4.2%	2.0%
Utilities	3.9%	2.1%
Real Estate	1.3%	1.0%

Return for Risk

BKF vs. SCHE — Risk / Return Rank

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

BKF

BKF Risk / Return Rank: 10
BKF Sharpe Ratio Rank: 10
BKF Sortino Ratio Rank: 10
BKF Omega Ratio Rank: 10
BKF Calmar Ratio Rank: 10
BKF Martin Ratio Rank: 10

SCHE

SCHE Risk / Return Rank: 54
SCHE Sharpe Ratio Rank: 54
SCHE Sortino Ratio Rank: 53
SCHE Omega Ratio Rank: 55
SCHE Calmar Ratio Rank: 54
SCHE 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. SCHE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI BRIC ETF (BKF) and Schwab Emerging Markets Equity ETF (SCHE). 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.

	BKF	SCHE	Difference
Sharpe ratio Return per unit of total volatility	0.12	1.89	-1.77
Sortino ratio Return per unit of downside risk	0.29	2.63	-2.34
Omega ratio Gain probability vs. loss probability	1.03	1.35	-0.31
Calmar ratio Return relative to maximum drawdown	0.14	2.72	-2.58
Martin ratio Return relative to average drawdown	0.38	9.82	-9.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BKF vs. SCHE - Sharpe Ratio Comparison

The current BKF Sharpe Ratio is 0.12, which is lower than the SCHE Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of BKF and SCHE, 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

	BKF	SCHE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.12	1.89	-1.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.19	0.28	-0.47
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.23	0.46	-0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.00	0.25	-0.25

Drawdowns

BKF vs. SCHE - Drawdown Comparison

The maximum BKF drawdown since its inception was -70.29%, which is greater than SCHE's maximum drawdown of -36.20%. Use the drawdown chart below to compare losses from any high point for BKF and SCHE.

Drawdown Indicators

	BKF	SCHE	Difference
Max Drawdown Largest peak-to-trough decline	-70.29%	-36.20%	-34.09%
Max Drawdown (1Y) Largest decline over 1 year	-13.43%	-11.29%	-2.14%
Max Drawdown (3Y) Largest decline over 3 years	-18.60%	-17.08%	-1.52%
Max Drawdown (5Y) Largest decline over 5 years	-44.94%	-33.59%	-11.35%
Max Drawdown (10Y) Largest decline over 10 years	-49.20%	-36.20%	-13.00%
Current Drawdown Current decline from peak	-25.46%	-1.45%	-24.01%
Average Drawdown Average peak-to-trough decline	-28.11%	-12.60%	-15.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.10%	3.12%	+1.98%

Volatility

BKF vs. SCHE - Volatility Comparison

The current volatility for iShares MSCI BRIC ETF (BKF) is 5.46%, while Schwab Emerging Markets Equity ETF (SCHE) has a volatility of 5.80%. This indicates that BKF experiences smaller price fluctuations and is considered to be less risky than SCHE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BKF	SCHE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.46%	5.80%	-0.34%
Volatility (6M) Calculated over the trailing 6-month period	12.40%	13.58%	-1.18%
Volatility (1Y) Calculated over the trailing 1-year period	15.53%	16.26%	-0.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.52%	17.67%	+3.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.77%	19.46%	+2.31%

BKF vs. SCHE - Expense Ratio Comparison

BKF has a 0.69% expense ratio, which is higher than SCHE's 0.11% expense ratio.

Dividends

BKF vs. SCHE - Dividend Comparison

BKF's dividend yield for the trailing twelve months is around 1.95%, less than SCHE's 2.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BKF iShares MSCI BRIC ETF	1.95%	1.79%	2.37%	1.68%	2.04%	2.93%	1.02%	1.66%	2.33%	1.51%	1.82%	3.15%
SCHE Schwab Emerging Markets Equity ETF	2.57%	2.88%	3.03%	3.83%	2.88%	2.86%	2.09%	3.27%	2.64%	2.31%	2.27%	2.50%

Frequently Asked Questions

Can I hold both BKF and SCHE in my portfolio?

BKF and SCHE have a correlation of 0.86, 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 SCHE?

SCHE has higher volatility (5.80%) compared to BKF (5.46%). In terms of maximum drawdown, BKF dropped -70.29% vs SCHE's -36.20%.

Which ETF is better, BKF or SCHE?

On 10-year performance, SCHE leads with 8.87% vs 5.04% for BKF. On fees, SCHE is cheaper at 0.11% per year. On volatility, BKF has been the lower-risk option at 5.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BKF or SCHE?

Over the 10-year period, SCHE has performed better with a 8.87% return vs 5.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BKF or SCHE?

SCHE is cheaper with a 0.11% expense ratio, compared with 0.69% for BKF.

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

SCHE has the higher dividend yield at 2.57%, compared with 1.95% for BKF.

What is the main difference between BKF and SCHE?

BKF is categorized as Asia Pacific Equities, while SCHE is Emerging Markets Equities. BKF tracks MSCI BRIC Index, while SCHE tracks FTSE All-World Emerging. They also come from different issuers: iShares and Charles Schwab. Their fees differ too: 0.69% for BKF and 0.11% for SCHE.

Which has better risk-adjusted returns?

SCHE currently has the higher Sharpe Ratio (1.89 vs 0.12), 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.