HEEM vs. BCHI
HEEM (iShares Currency Hedged MSCI Emerging Markets ETF) and BCHI (GMO Beyond China ETF) are both Emerging Markets Diversified funds. HEEM is passively managed, while BCHI is actively managed. Over the past year, HEEM returned 50.37% vs 51.59% for BCHI. Their correlation of 0.80 suggests significant overlap in exposure. HEEM charges 0.72%/yr vs 0.65%/yr for BCHI.
Performance
HEEM vs. BCHI - Performance Comparison
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Returns By Period
In the year-to-date period, HEEM achieves a 20.85% return, which is significantly lower than BCHI's 26.17% return.
HEEM
- 1D
- -5.76%
- 1M
- -2.36%
- YTD
- 20.85%
- 6M
- 21.68%
- 1Y
- 50.37%
- 3Y*
- 23.65%
- 5Y*
- 8.78%
- 10Y*
- 10.40%
BCHI
- 1D
- -6.54%
- 1M
- -3.40%
- YTD
- 26.17%
- 6M
- 27.76%
- 1Y
- 51.59%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HEEM vs. BCHI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HEEM iShares Currency Hedged MSCI Emerging Markets ETF | 20.85% | 28.22% |
BCHI GMO Beyond China ETF | 26.17% | 25.80% |
Correlation
The correlation between HEEM and BCHI is 0.83, 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 | 0.83 |
Correlation (All Time) Calculated using the full available price history since Feb 14, 2025 | 0.80 |
The correlation between HEEM and BCHI has been stable across timeframes, ranging from 0.80 to 0.83 - a consistent structural relationship.
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Return for Risk
HEEM vs. BCHI — Risk / Return Rank
HEEM
BCHI
HEEM vs. BCHI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Currency Hedged MSCI Emerging Markets ETF (HEEM) and GMO Beyond China ETF (BCHI). 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.
| HEEM | BCHI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.47 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 4.67 | 3.67 | +1.01 |
| Martin ratioReturn relative to average drawdown | 18.40 | 14.62 | +3.78 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HEEM | BCHI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.71 | 2.47 | +0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.51 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 2.00 | -1.54 |
Drawdowns
HEEM vs. BCHI - Drawdown Comparison
The maximum HEEM drawdown since its inception was -33.53%, which is greater than BCHI's maximum drawdown of -14.33%. Use the drawdown chart below to compare losses from any high point for HEEM and BCHI.
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Drawdown Indicators
| HEEM | BCHI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.53% | -14.33% | -19.20% |
Max Drawdown (1Y)Largest decline over 1 year | -10.83% | -14.14% | +3.31% |
Max Drawdown (3Y)Largest decline over 3 years | -14.82% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -30.60% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -33.53% | — | — |
Current DrawdownCurrent decline from peak | -7.80% | -8.19% | +0.39% |
Average DrawdownAverage peak-to-trough decline | -11.13% | -2.21% | -8.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | 3.54% | -0.79% |
Volatility
HEEM vs. BCHI - Volatility Comparison
The current volatility for iShares Currency Hedged MSCI Emerging Markets ETF (HEEM) is 9.48%, while GMO Beyond China ETF (BCHI) has a volatility of 11.05%. This indicates that HEEM experiences smaller price fluctuations and is considered to be less risky than BCHI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HEEM | BCHI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.48% | 11.05% | -1.57% |
Volatility (6M)Calculated over the trailing 6-month period | 16.57% | 19.07% | -2.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.71% | 20.99% | -2.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.21% | 21.36% | -4.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.06% | 21.36% | -3.30% |
HEEM vs. BCHI - Expense Ratio Comparison
HEEM has a 0.72% expense ratio, which is higher than BCHI's 0.65% expense ratio.
Dividends
HEEM vs. BCHI - Dividend Comparison
HEEM's dividend yield for the trailing twelve months is around 3.29%, more than BCHI's 2.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BCHI GMO Beyond China ETF | 2.91% | 3.67% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HEEM iShares Currency Hedged MSCI Emerging Markets ETF | 3.29% | 3.98% | 2.38% | 2.75% | 7.49% | 1.93% | 1.49% | 3.04% | 2.37% | 2.05% | 1.84% | 6.28% |
Frequently Asked Questions
HEEM and BCHI have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BCHI has higher volatility (11.05%) compared to HEEM (9.48%). In terms of maximum drawdown, HEEM dropped -33.53% vs BCHI's -14.33%.
On 1-year performance, BCHI leads with 51.59% vs 50.37% for HEEM. On fees, BCHI is cheaper at 0.65% per year. On volatility, HEEM has been the lower-risk option at 9.48%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BCHI has performed better with a 51.59% return vs 50.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BCHI is cheaper with a 0.65% expense ratio, compared with 0.72% for HEEM.
HEEM has the higher dividend yield at 3.29%, compared with 2.91% for BCHI.
They also come from different issuers: iShares and GMO. Their fees differ too: 0.72% for HEEM and 0.65% for BCHI.
HEEM currently has the higher Sharpe Ratio (2.71 vs 2.47), 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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