GIND vs. BKEM

Last updated Aug 5, 2026

GIND (Goldman Sachs India Equity ETF) and BKEM (BNY Mellon Emerging Markets Equity ETF) are both exchange-traded funds - GIND is a India Equities fund actively managed by Goldman Sachs, while BKEM is a Emerging Markets Equities fund tracking the Morningstar Emerging Markets Large Cap Index. GIND is actively managed, while BKEM is passively managed. Over the past year, GIND returned -4.06% vs 38.27% for BKEM. Their 0.52 correlation means they have sometimes moved together and sometimes differently. GIND charges 0.75%/yr vs 0.11%/yr for BKEM.

Performance

GIND vs. BKEM - Performance Comparison

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

Returns By Period

In the year-to-date period, GIND achieves a -4.76% return, which is significantly lower than BKEM's 22.55% return.

GIND

• 1D: 1.00%
• 1M: 2.45%
• 6M: -1.35%
• YTD: -4.76%
• 1Y: -4.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -0.22%

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%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BKEM BNY Mellon Emerging Markets Equity ETF	$489.60K	$311.13K	$245.44K
GIND Goldman Sachs India Equity ETF	$322.48K	$247.32K	$253.29K

GIND vs. BKEM - Yearly Performance Comparison

	2026 (YTD)	2025
GIND Goldman Sachs India Equity ETF	-4.76%	4.70%
BKEM BNY Mellon Emerging Markets Equity ETF	22.55%	25.81%

Correlation

The correlation between GIND and BKEM is 0.52, 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.	0.52
Correlation (All Time) Calculated using the full available price history since Apr 3, 2025	0.52

The correlation between GIND and BKEM has been stable across timeframes, ranging from 0.52 to 0.52 - a consistent structural relationship.

GIND vs. BKEM - Sectors Allocation Comparison

Sectors	GIND	BKEM
Financial Services	30.9%	17.5%
Consumer Cyclical	16.4%	7.7%
Industrials	11.8%	7.6%
Healthcare	9.1%	2.7%
Basic Materials	8.5%	5.4%
Technology	7.7%	44.5%
Consumer Defensive	5.4%	2.6%
Energy	3.1%	3.1%
Utilities	2.7%	2.0%
Communication Services	2.3%	5.8%
Real Estate	2.3%	1.1%

Return for Risk

GIND vs. BKEM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GIND

GIND Risk / Return Rank: 7
GIND Sharpe Ratio Rank: 7
GIND Sortino Ratio Rank: 7
GIND Omega Ratio Rank: 7
GIND Calmar Ratio Rank: 8
GIND Martin Ratio Rank: 8

BKEM

BKEM Risk / Return Rank: 61
BKEM Sharpe Ratio Rank: 59
BKEM Sortino Ratio Rank: 54
BKEM Omega Ratio Rank: 60
BKEM Calmar Ratio Rank: 70
BKEM Martin Ratio Rank: 63

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.

GIND vs. BKEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs India Equity ETF (GIND) 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.

	GIND	BKEM	Difference
Sharpe ratio: Return per unit of total volatility	-0.24	1.61	-1.85
Sortino ratio: Return per unit of downside risk	-0.23	2.14	-2.37
Omega ratio: Gain probability vs. loss probability	0.97	1.30	-0.32
Calmar ratio: Return relative to maximum drawdown	-0.19	2.76	-2.95
Martin ratio: Return relative to average drawdown	-0.42	8.43	-8.84

GIND vs. BKEM - Sharpe Ratio Comparison

The current GIND Sharpe Ratio is -0.24, which is lower than the BKEM Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of GIND 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.

Drawdowns

GIND vs. BKEM - Drawdown Comparison

The maximum GIND drawdown since its inception was -22.97%, smaller than the maximum BKEM drawdown of -39.48%. Use the drawdown chart below to compare losses from any high point for GIND and BKEM.

Drawdown Indicators

	GIND	BKEM	Difference
Max Drawdown Largest peak-to-trough decline	-22.97%	-39.48%	+16.51%
Max Drawdown (1Y) Largest decline over 1 year	-21.90%	-13.91%	-7.99%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.38%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-33.28%	—
Current Drawdown Current decline from peak	-9.71%	-7.20%	-2.51%
Average Drawdown Average peak-to-trough decline	-7.64%	-15.75%	+8.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.75%	4.55%	+5.20%

Volatility

GIND vs. BKEM - Volatility Comparison

The current volatility for Goldman Sachs India Equity ETF (GIND) is 5.04%, while BNY Mellon Emerging Markets Equity ETF (BKEM) has a volatility of 9.01%. This indicates that GIND 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.

Volatility by Period

	GIND	BKEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.04%	9.01%	-3.97%
Volatility (6M) Calculated over the trailing 6-month period	14.43%	21.91%	-7.48%
Volatility (1Y) Calculated over the trailing 1-year period	16.95%	23.94%	-6.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.07%	19.64%	-2.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.07%	19.77%	-2.70%

GIND vs. BKEM - Expense Ratio Comparison

GIND has a 0.75% expense ratio, which is higher than BKEM's 0.11% expense ratio.

Dividends

GIND vs. BKEM - Dividend Comparison

GIND has not paid dividends to shareholders, while BKEM's dividend yield for the trailing twelve months is around 1.91%.

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%
GIND Goldman Sachs India Equity ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GIND and BKEM in my portfolio?

GIND and BKEM have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GIND or BKEM?

BKEM has higher volatility (9.01%) compared to GIND (5.04%). In terms of maximum drawdown, GIND dropped -22.97% vs BKEM's -39.48%.

Which ETF is better, GIND or BKEM?

On 1-year performance, BKEM leads with 38.27% vs -4.06% for GIND. On fees, BKEM is cheaper at 0.11% per year. On volatility, GIND has been the lower-risk option at 5.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GIND or BKEM?

Over the 1-year period, BKEM has performed better with a 38.27% return vs -4.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GIND or BKEM?

BKEM is cheaper with a 0.11% expense ratio, compared with 0.75% for GIND.

Which ETF pays a higher dividend yield, GIND or BKEM?

BKEM has the higher dividend yield at 1.91%, compared with 0.00% for GIND.

What is the main difference between GIND and BKEM?

GIND is categorized as India Equities, while BKEM is Emerging Markets Equities. They also come from different issuers: Goldman Sachs and BNY Mellon. Their fees differ too: 0.75% for GIND and 0.11% for BKEM.

Which has better risk-adjusted returns?

BKEM currently has the higher Sharpe Ratio (1.61 vs -0.24), 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.