EEM vs. BEXIX
EEM (iShares MSCI Emerging Markets ETF) and BEXIX (Baron Emerging Markets Fund) are both Emerging Markets Diversified funds. Over the past 10 years, EEM returned 9.91%/yr vs 8.45%/yr for BEXIX. Their correlation of 0.86 suggests significant overlap in exposure. EEM charges 0.72%/yr vs 1.12%/yr for BEXIX.
Performance
EEM vs. BEXIX - Performance Comparison
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Returns By Period
In the year-to-date period, EEM achieves a 24.07% return, which is significantly higher than BEXIX's 16.52% return. Over the past 10 years, EEM has outperformed BEXIX with an annualized return of 9.91%, while BEXIX has yielded a comparatively lower 8.45% annualized return.
EEM
- 1D
- 0.56%
- 1M
- 4.32%
- YTD
- 24.07%
- 6M
- 26.94%
- 1Y
- 47.57%
- 3Y*
- 21.60%
- 5Y*
- 6.56%
- 10Y*
- 9.91%
BEXIX
- 1D
- 4.45%
- 1M
- 0.59%
- YTD
- 16.52%
- 6M
- 18.20%
- 1Y
- 32.38%
- 3Y*
- 18.65%
- 5Y*
- 3.19%
- 10Y*
- 8.45%
EEM vs. BEXIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EEM iShares MSCI Emerging Markets ETF | 24.07% | 33.98% | 6.49% | 8.95% | -20.56% | -3.63% | 17.02% | 18.22% | -15.31% | 37.26% |
BEXIX Baron Emerging Markets Fund | 16.52% | 30.11% | 7.91% | 8.29% | -25.82% | -6.06% | 29.71% | 18.85% | -18.48% | 40.63% |
Correlation
The correlation between EEM and BEXIX is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2011 | 0.86 |
The correlation between EEM and BEXIX has been stable across timeframes, ranging from 0.86 to 0.93 - a consistent structural relationship.
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Return for Risk
EEM vs. BEXIX — Risk / Return Rank
EEM
BEXIX
EEM vs. BEXIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets ETF (EEM) and Baron Emerging Markets Fund (BEXIX). 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.
| EEM | BEXIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.62 | ||
| Sortino ratioReturn per unit of downside risk | +0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.29 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.36 | 2.33 | +1.03 |
| Martin ratioReturn relative to average drawdown | 12.38 | 7.77 | +4.62 |
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Drawdowns
EEM vs. BEXIX - Drawdown Comparison
The maximum EEM drawdown since its inception was -66.43%, which is greater than BEXIX's maximum drawdown of -45.58%. Use the drawdown chart below to compare losses from any high point for EEM and BEXIX.
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Drawdown Indicators
| EEM | BEXIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.43% | -45.58% | -20.85% |
Max Drawdown (1Y)Largest decline over 1 year | -13.52% | -13.32% | -0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -17.29% | -16.63% | -0.66% |
Max Drawdown (5Y)Largest decline over 5 years | -37.49% | -41.65% | +4.16% |
Max Drawdown (10Y)Largest decline over 10 years | -39.82% | -45.58% | +5.76% |
Current DrawdownCurrent decline from peak | -4.12% | -4.95% | +0.83% |
Average DrawdownAverage peak-to-trough decline | -16.00% | -13.76% | -2.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.67% | 3.99% | -0.32% |
Volatility
EEM vs. BEXIX - Volatility Comparison
iShares MSCI Emerging Markets ETF (EEM) and Baron Emerging Markets Fund (BEXIX) have volatilities of 10.80% and 10.87%, 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.
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Volatility by Period
| EEM | BEXIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.80% | 10.87% | -0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 19.39% | 18.26% | +1.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.64% | 21.05% | +0.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.26% | 17.87% | +1.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.64% | 18.16% | +2.48% |
EEM vs. BEXIX - Expense Ratio Comparison
EEM has a 0.72% expense ratio, which is lower than BEXIX's 1.12% expense ratio.
Dividends
EEM vs. BEXIX - Dividend Comparison
EEM's dividend yield for the trailing twelve months is around 1.79%, more than BEXIX's 1.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BEXIX Baron Emerging Markets Fund | 1.75% | 2.04% | 0.81% | 0.69% | 0.00% | 1.88% | 0.35% | 0.46% | 0.49% | 0.45% | 0.76% | 0.39% |
EEM iShares MSCI Emerging Markets ETF | 1.79% | 2.22% | 2.43% | 2.63% | 2.50% | 1.99% | 1.45% | 2.76% | 2.24% | 1.89% | 1.89% | 2.49% |
Frequently Asked Questions
EEM and BEXIX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BEXIX has higher volatility (10.87%) compared to EEM (10.80%). In terms of maximum drawdown, EEM dropped -66.43% vs BEXIX's -45.58%.
EEM currently has the higher Sharpe Ratio (2.10 vs 1.48), 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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