BKHY vs. BKEM
BKHY (BNY Mellon High Yield Beta ETF) and BKEM (BNY Mellon Emerging Markets Equity ETF) are both exchange-traded funds - BKHY is a High Yield Bonds fund tracking the Bloomberg US Corporate High Yield Index, while BKEM is a Emerging Markets Equities fund tracking the Morningstar Emerging Markets Large Cap Index. Both are passively managed. Over the past 5 years, BKHY returned 4.07%/yr vs 7.49%/yr for BKEM. Their 0.54 correlation means they have sometimes moved together and sometimes differently. BKHY charges 0.22%/yr vs 0.11%/yr for BKEM.
Performance
BKHY vs. BKEM - Performance Comparison
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Returns By Period
In the year-to-date period, BKHY achieves a 2.54% return, which is significantly lower than BKEM's 22.55% return.
BKHY
- 1D
- 0.32%
- 1M
- 0.19%
- 6M
- 1.77%
- YTD
- 2.54%
- 1Y
- 5.76%
- 3Y*
- 8.60%
- 5Y*
- 4.07%
- 10Y*
- —
- ALL TIME*
- 6.55%
BKEM
- 1D
- 2.46%
- 1M
- 0.22%
- 6M
- 12.31%
- YTD
- 22.55%
- 1Y
- 38.27%
- 3Y*
- 20.12%
- 5Y*
- 7.49%
- 10Y*
- —
- ALL TIME*
- 12.96%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $489.60K | $311.13K | $245.44K | |
| $1.29M | $953.81K | $870.21K |
BKHY vs. BKEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BKHY BNY Mellon High Yield Beta ETF | 2.54% | 8.48% | 8.37% | 12.40% | -10.97% | 4.75% | 17.83% |
BKEM BNY Mellon Emerging Markets Equity ETF | 22.55% | 30.55% | 7.53% | 8.68% | -19.43% | -3.91% | 48.44% |
Correlation
The correlation between BKHY and BKEM is 0.57, 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. | 0.57 |
Correlation (3Y) Balances recent behavior with more history. | 0.51 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.54 |
Correlation (All Time) Calculated using the full available price history since Apr 24, 2020 | 0.54 |
The correlation between BKHY and BKEM has been stable across timeframes, ranging from 0.51 to 0.57 - a consistent structural relationship.
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Return for Risk
BKHY vs. BKEM — Risk / Return Rank
BKHY
BKEM
BKHY vs. BKEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNY Mellon High Yield Beta ETF (BKHY) and BNY Mellon Emerging Markets Equity ETF (BKEM). 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.
| BKHY | BKEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.30 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.29 | 2.76 | -0.48 |
| Martin ratioReturn relative to average drawdown | 10.28 | 8.43 | +1.86 |
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Drawdowns
BKHY vs. BKEM - Drawdown Comparison
The maximum BKHY drawdown since its inception was -15.89%, smaller than the maximum BKEM drawdown of -39.48%. Use the drawdown chart below to compare losses from any high point for BKHY and BKEM.
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Drawdown Indicators
| BKHY | BKEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.89% | -39.48% | +23.59% |
Max Drawdown (1Y)Largest decline over 1 year | -2.53% | -13.91% | +11.38% |
Max Drawdown (3Y)Largest decline over 3 years | -4.87% | -18.38% | +13.51% |
Max Drawdown (5Y)Largest decline over 5 years | -15.89% | -33.28% | +17.39% |
Current DrawdownCurrent decline from peak | 0.00% | -7.20% | +7.20% |
Average DrawdownAverage peak-to-trough decline | -2.90% | -15.75% | +12.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | 4.55% | -3.99% |
Volatility
BKHY vs. BKEM - Volatility Comparison
The current volatility for BNY Mellon High Yield Beta ETF (BKHY) is 0.89%, while BNY Mellon Emerging Markets Equity ETF (BKEM) has a volatility of 9.01%. This indicates that BKHY experiences smaller price fluctuations and is considered to be less risky than BKEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BKHY | BKEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.89% | 9.01% | -8.12% |
Volatility (6M)Calculated over the trailing 6-month period | 3.11% | 21.91% | -18.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.72% | 23.94% | -20.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.59% | 19.64% | -12.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.28% | 19.77% | -12.49% |
BKHY vs. BKEM - Expense Ratio Comparison
BKHY has a 0.22% expense ratio, which is higher than BKEM's 0.11% 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
BKHY vs. BKEM - Dividend Comparison
BKHY's dividend yield for the trailing twelve months is around 7.41%, more than BKEM's 1.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
BKEM BNY Mellon Emerging Markets Equity ETF | 1.91% | 2.25% | 2.76% | 3.02% | 3.15% | 2.22% | 1.78% |
BKHY BNY Mellon High Yield Beta ETF | 7.41% | 7.33% | 7.34% | 8.67% | 6.59% | 6.78% | 4.65% |
Frequently Asked Questions
BKHY and BKEM 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.
BKEM has higher volatility (9.01%) compared to BKHY (0.89%). In terms of maximum drawdown, BKHY dropped -15.89% vs BKEM's -39.48%.
On 5-year performance, BKEM leads with 7.49% vs 4.07% for BKHY. On fees, BKEM is cheaper at 0.11% per year. On volatility, BKHY has been the lower-risk option at 0.89%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BKEM has performed better with a 7.49% return vs 4.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BKEM is cheaper with a 0.11% expense ratio, compared with 0.22% for BKHY.
BKHY has the higher dividend yield at 7.41%, compared with 1.91% for BKEM.
BKHY is categorized as High Yield Bonds, while BKEM is Emerging Markets Equities. BKHY tracks Bloomberg US Corporate High Yield Index, while BKEM tracks Morningstar Emerging Markets Large Cap Index. Their fees differ too: 0.22% for BKHY and 0.11% for BKEM.
BKEM currently has the higher Sharpe Ratio (1.61 vs 1.55), 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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