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EEM vs. BKEM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EEM vs. BKEM

Last updated Aug 6, 2026
Documentation

EEM (iShares MSCI Emerging Markets ETF) and BKEM (BNY Mellon Emerging Markets Equity ETF) are both Emerging Markets Equities funds - EEM tracks the MSCI Emerging Markets Index (Net) while BKEM tracks the Morningstar Emerging Markets Large Cap Index. Both are passively managed. Over the past 5 years, EEM returned 7.31%/yr vs 7.66%/yr for BKEM. Their 0.98 correlation means they have historically moved very closely together. EEM charges 0.72%/yr vs 0.11%/yr for BKEM.

Performance

EEM vs. BKEM - Performance Comparison

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

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Returns By Period

In the year-to-date period, EEM achieves a 20.75% return, which is significantly lower than BKEM's 22.42% return.

EEM

1D
-0.42%
1M
-2.74%
6M
12.35%
YTD
20.75%
1Y
37.20%
3Y*
20.30%
5Y*
7.31%
10Y*
8.37%
ALL TIME*
9.98%

BKEM

1D
-0.11%
1M
-2.58%
6M
13.29%
YTD
22.42%
1Y
37.39%
3Y*
20.07%
5Y*
7.66%
10Y*
—
ALL TIME*
12.93%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

BKEM

BNY Mellon Emerging Markets Equity ETF
$482.63K$311.92K$245.54K

EEM

iShares MSCI Emerging Markets ETF
$1.66B$1.55B$1.89B

EEM vs. BKEM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
EEM
iShares MSCI Emerging Markets ETF		20.75%33.98%6.49%8.95%-20.56%-3.63%47.37%
BKEM
BNY Mellon Emerging Markets Equity ETF		22.42%30.55%7.53%8.68%-19.43%-3.91%48.44%

Correlation

The correlation between EEM and BKEM is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.

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

0.97

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

0.98

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.98

Correlation (All Time)
Calculated using the full available price history since Apr 24, 2020

0.98

The correlation between EEM and BKEM has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

EEM vs. BKEM - Sectors Allocation Comparison

Sectors
EEM
BKEM

Technology

45.9%
44.5%

Financial Services

18.2%
17.5%

Consumer Cyclical

7.4%
7.7%

Industrials

6.2%
7.6%

Communication Services

6.0%
5.8%

Basic Materials

5.4%
5.4%

Energy

3.2%
3.1%

Consumer Defensive

2.5%
2.6%

Healthcare

2.5%
2.7%

Utilities

1.8%
2.0%

Real Estate

1.0%
1.1%

Technology

EEM
45.9%
BKEM
44.5%

Financial Services

EEM
18.2%
BKEM
17.5%

Consumer Cyclical

EEM
7.4%
BKEM
7.7%

Industrials

EEM
6.2%
BKEM
7.6%

Communication Services

EEM
6.0%
BKEM
5.8%

Basic Materials

EEM
5.4%
BKEM
5.4%

Energy

EEM
3.2%
BKEM
3.1%

Consumer Defensive

EEM
2.5%
BKEM
2.6%

Healthcare

EEM
2.5%
BKEM
2.7%

Utilities

EEM
1.8%
BKEM
2.0%

Real Estate

EEM
1.0%
BKEM
1.1%

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 Emerging Markets ETF

BNY Mellon Emerging Markets Equity ETF

Often compared with EEM:
EEM vs. VWOEEM vs. SPYEEM vs. IEMGEEM vs. VXUSEEM vs. IS3N.DEEEM vs. EEMSEEM vs. SPEM
Often compared with BKEM:
BKEM vs. BKIEBKEM vs. SPEMBKEM vs. VWOBKEM vs. EMMFBKEM vs. BBEMBKEM vs. IEMS.LBKEM vs. IEMG

Return for Risk

EEM vs. BKEM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
EEM
EEM Risk / Return Rank: 5757
Overall Rank
EEM Sharpe Ratio Rank: 5555
Sharpe Ratio Rank
EEM Sortino Ratio Rank: 5050
Sortino Ratio Rank
EEM Omega Ratio Rank: 5757
Omega Ratio Rank
EEM Calmar Ratio Rank: 6666
Calmar Ratio Rank
EEM Martin Ratio Rank: 5959
Martin Ratio Rank
BKEM
BKEM Risk / Return Rank: 5959
Overall Rank
BKEM Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
BKEM Sortino Ratio Rank: 5252
Sortino Ratio Rank
BKEM Omega Ratio Rank: 5757
Omega Ratio Rank
BKEM Calmar Ratio Rank: 6868
Calmar Ratio Rank
BKEM Martin Ratio Rank: 6161
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.

EEM vs. BKEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets ETF (EEM) 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.

EEMBKEMDifference
Sharpe ratioReturn per unit of total volatility
1.52
1.57

-0.05

Sortino ratioReturn per unit of downside risk
2.05
2.10

-0.05

Omega ratioGain probability vs. loss probability

1.29

1.29

0.00

Calmar ratioReturn relative to maximum drawdown

2.62

2.70

-0.08

Martin ratioReturn relative to average drawdown

7.91

8.19

-0.28

EEM vs. BKEM - Sharpe Ratio Comparison

The current EEM Sharpe Ratio is 1.52, which is comparable to the BKEM Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of EEM and BKEM, 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

EEM vs. BKEM - Drawdown Comparison

The maximum EEM drawdown since its inception was -66.43%, which is greater than BKEM's maximum drawdown of -39.48%. Use the drawdown chart below to compare losses from any high point for EEM and BKEM.

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Drawdown Indicators

EEMBKEMDifference

Max Drawdown

Largest peak-to-trough decline

-66.43%

-39.48%

-26.95%

Max Drawdown (1Y)

Largest decline over 1 year

-14.24%

-13.91%

-0.33%

Max Drawdown (3Y)

Largest decline over 3 years

-17.29%

-18.38%

+1.09%

Max Drawdown (5Y)

Largest decline over 5 years

-35.01%

-33.28%

-1.73%

Max Drawdown (10Y)

Largest decline over 10 years

-39.82%

—

—

Current Drawdown

Current decline from peak

-7.71%

-7.30%

-0.41%

Average Drawdown

Average peak-to-trough decline

-15.95%

-15.74%

-0.21%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.71%

4.58%

+0.13%

Volatility

EEM vs. BKEM - Volatility Comparison

iShares MSCI Emerging Markets ETF (EEM) and BNY Mellon Emerging Markets Equity ETF (BKEM) have volatilities of 8.53% and 8.56%, 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

EEMBKEMDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.53%

8.56%

-0.03%

Volatility (6M)

Calculated over the trailing 6-month period

22.42%

21.91%

+0.51%

Volatility (1Y)

Calculated over the trailing 1-year period

24.55%

23.93%

+0.62%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.87%

19.64%

+0.23%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.81%

19.76%

+1.05%

EEM vs. BKEM - Expense Ratio Comparison

EEM has a 0.72% expense ratio, which is higher than BKEM's 0.11% expense ratio.

Dividends

EEM vs. BKEM - Dividend Comparison

EEM's dividend yield for the trailing twelve months is around 1.70%, less than BKEM's 1.91% yield.

PositionTTM20252024202320222021202020192018201720162015
BKEM
BNY Mellon Emerging Markets Equity ETF		1.91%2.25%2.76%3.02%3.15%2.22%1.78%0.00%0.00%0.00%0.00%0.00%
EEM
iShares MSCI Emerging Markets ETF		1.70%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

With a correlation of 0.97, EEM and BKEM move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

BKEM has higher volatility (8.56%) compared to EEM (8.53%). In terms of maximum drawdown, EEM dropped -66.43% vs BKEM's -39.48%.

On 5-year performance, BKEM leads with 7.66% vs 7.31% for EEM. On fees, BKEM is cheaper at 0.11% per year. Their volatility is very similar. 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 7.66% return vs 7.31%. 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 0.72% for EEM.

BKEM has the higher dividend yield at 1.91%, compared with 1.70% for EEM.

EEM tracks MSCI Emerging Markets Index (Net), while BKEM tracks Morningstar Emerging Markets Large Cap Index. They also come from different issuers: iShares and BNY Mellon. Their fees differ too: 0.72% for EEM and 0.11% for BKEM.

BKEM currently has the higher Sharpe Ratio (1.57 vs 1.52), 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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