JEMA vs. BKEM

Last updated Jul 14, 2026

JEMA (JPMorgan ActiveBuilders Emerging Markets Equity ETF) and BKEM (BNY Mellon Emerging Markets Equity ETF) are both Emerging Markets Equities funds. JEMA is actively managed, while BKEM is passively managed. Over the past 5 years, JEMA returned 6.28%/yr vs 6.39%/yr for BKEM. With a 0.97 correlation, they move nearly in lockstep. JEMA charges 0.39%/yr vs 0.11%/yr for BKEM.

Performance

JEMA vs. BKEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan ActiveBuilders Emerging Markets Equity ETF (JEMA) 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, JEMA achieves a 22.82% return, which is significantly higher than BKEM's 20.10% return.

JEMA

• 1D: -3.63%
• 1M: -4.04%
• 6M: 16.50%
• YTD: 22.82%
• 1Y: 44.10%
• 3Y*: 20.30%
• 5Y*: 6.28%
• 10Y*: —

BKEM

• 1D: -3.63%
• 1M: -4.84%
• 6M: 13.52%
• YTD: 20.10%
• 1Y: 36.79%
• 3Y*: 18.94%
• 5Y*: 6.39%
• 10Y*: —

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

JEMA vs. BKEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF	22.82%	34.89%	5.68%	9.82%	-24.98%	-4.72%
BKEM BNY Mellon Emerging Markets Equity ETF	20.10%	30.55%	7.53%	8.68%	-19.43%	-7.64%

Correlation

The correlation between JEMA and BKEM is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Mar 11, 2021	0.97

The correlation between JEMA and BKEM has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

JEMA vs. BKEM - Sectors Allocation Comparison

Sectors	JEMA	BKEM
Technology	46.7%	43.0%
Financial Services	19.2%	16.9%
Consumer Cyclical	8.6%	8.7%
Industrials	7.3%	8.1%
Communication Services	6.3%	5.8%
Basic Materials	3.4%	5.7%
Energy	3.3%	3.4%
Consumer Defensive	2.0%	2.6%
Healthcare	1.4%	2.7%
Utilities	1.2%	2.0%
Real Estate	0.7%	1.1%

Return for Risk

JEMA vs. BKEM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JEMA

JEMA Risk / Return Rank: 75
JEMA Sharpe Ratio Rank: 74
JEMA Sortino Ratio Rank: 65
JEMA Omega Ratio Rank: 75
JEMA Calmar Ratio Rank: 81
JEMA Martin Ratio Rank: 80

BKEM

BKEM Risk / Return Rank: 64
BKEM Sharpe Ratio Rank: 62
BKEM Sortino Ratio Rank: 55
BKEM Omega Ratio Rank: 63
BKEM Calmar Ratio Rank: 71
BKEM Martin Ratio Rank: 67

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JEMA vs. BKEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan ActiveBuilders Emerging Markets Equity ETF (JEMA) 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.

	JEMA	BKEM	Difference
Sharpe ratio: Return per unit of total volatility	1.87	1.62	+0.25
Sortino ratio: Return per unit of downside risk	2.38	2.12	+0.26
Omega ratio: Gain probability vs. loss probability	1.35	1.30	+0.05
Calmar ratio: Return relative to maximum drawdown	3.38	2.82	+0.56
Martin ratio: Return relative to average drawdown	12.18	9.64	+2.55

JEMA vs. BKEM - Sharpe Ratio Comparison

The current JEMA Sharpe Ratio is 1.87, which is comparable to the BKEM Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of JEMA 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

JEMA vs. BKEM - Drawdown Comparison

The maximum JEMA drawdown since its inception was -39.50%, roughly equal to the maximum BKEM drawdown of -39.48%. Use the drawdown chart below to compare losses from any high point for JEMA and BKEM.

Drawdown Indicators

	JEMA	BKEM	Difference
Max Drawdown Largest peak-to-trough decline	-39.50%	-39.48%	-0.02%
Max Drawdown (1Y) Largest decline over 1 year	-13.11%	-13.11%	0.00%
Max Drawdown (3Y) Largest decline over 3 years	-18.11%	-18.38%	+0.27%
Max Drawdown (5Y) Largest decline over 5 years	-38.23%	-34.52%	-3.71%
Current Drawdown Current decline from peak	-9.17%	-9.06%	-0.11%
Average Drawdown Average peak-to-trough decline	-16.79%	-15.81%	-0.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.63%	3.83%	-0.20%

Volatility

JEMA vs. BKEM - Volatility Comparison

JPMorgan ActiveBuilders Emerging Markets Equity ETF (JEMA) and BNY Mellon Emerging Markets Equity ETF (BKEM) have volatilities of 11.32% 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.

Volatility by Period

	JEMA	BKEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.32%	10.87%	+0.45%
Volatility (6M) Calculated over the trailing 6-month period	21.68%	20.93%	+0.75%
Volatility (1Y) Calculated over the trailing 1-year period	23.79%	22.92%	+0.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.83%	19.50%	+0.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.56%	19.65%	-0.09%

JEMA vs. BKEM - Expense Ratio Comparison

JEMA has a 0.39% expense ratio, which is higher than BKEM's 0.11% expense ratio.

Dividends

JEMA vs. BKEM - Dividend Comparison

JEMA's dividend yield for the trailing twelve months is around 2.38%, more than BKEM's 1.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
BKEM BNY Mellon Emerging Markets Equity ETF	1.95%	2.25%	2.76%	3.02%	3.15%	2.22%	1.78%
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF	2.38%	2.93%	2.44%	2.95%	2.69%	1.54%	0.00%

Frequently Asked Questions

Can I hold both JEMA and BKEM in my portfolio?

With a correlation of 0.96, JEMA 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.

Which is riskier, JEMA or BKEM?

JEMA has higher volatility (11.32%) compared to BKEM (10.87%). In terms of maximum drawdown, JEMA dropped -39.50% vs BKEM's -39.48%.

Which ETF is better, JEMA or BKEM?

On 5-year performance, BKEM leads with 6.39% vs 6.28% for JEMA. On fees, BKEM is cheaper at 0.11% per year. On volatility, BKEM has been the lower-risk option at 10.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JEMA or BKEM?

Over the 5-year period, BKEM has performed better with a 6.39% return vs 6.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JEMA or BKEM?

BKEM is cheaper with a 0.11% expense ratio, compared with 0.39% for JEMA.

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

JEMA has the higher dividend yield at 2.38%, compared with 1.95% for BKEM.

What is the main difference between JEMA and BKEM?

They also come from different issuers: JPMorgan and BNY Mellon. Their fees differ too: 0.39% for JEMA and 0.11% for BKEM.

Which has better risk-adjusted returns?

JEMA currently has the higher Sharpe Ratio (1.87 vs 1.62), 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.