BKEM
BNY Mellon Emerging Markets Equity ETF
BKEM is a passively managed fund with emerging market exposure to broad large-cap stocks, selected and weighted by market cap.
Fund Basics
| Fund sponsor | The Bank of New York Mellon |
| Category | Emerging Market Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Apr 24, 2020 |
| Assets (mns) | $90 |
| Expense ratio | 11 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| TAIWAN SEMICONDUCTOR MANUFAC | 6.3 % |
| SAMSUNG ELECTRONICS CO LTD | 4.2 % |
| TENCENT HOLDINGS LTD | 4.0 % |
| ALIBABA GROUP HOLDING LTD. | 2.7 % |
| HDFC BANK LIMITED | 1.6 % |
| RELIANCE INDUSTRIES LTD | 1.6 % |
| INTERNATIONAL HOLDINGS COMPANY PJSC | 1.5 % |
| MEITUAN DIANPING | 1.1 % |
| PINDUODUO, INC. SPONSORED ADR CLASS A | 1.1 % |
| INFOSYS TECHNOLOGIES LTD | 1.0 % |
Constituent Breakdown
| Number of holdings | 917 |
| Herfindahl-Hirschman Index | 101 |
| Wgt avg mkt cap (mns) | $65,971 |
| Large cap (>$10bn) | 54.3% |
| Mid cap ($2-10bn) | 17.3% |
| Small cap (<$2bn) | 0.1% |
| Developed mkts. | 4.9% |
| Emerging mkts. | 95.1% |
Country Exposure
 |
CHINA | 26.4 % |
 |
INDIA | 16.5 % |
 |
TAIWAN | 15.0 % |
 |
SOUTH KOREA | 12.2 % |
 |
BRAZIL | 4.6 % |
 |
SAUDI ARABIA | 3.7 % |
 |
UAE | 2.8 % |
 |
SOUTH AFRICA | 2.4 % |
 |
INDONESIA | 2.2 % |
 |
MEXICO | 2.0 % |
Historical Performance
Standardized Annual Returns (as of 08/31/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 4.4% | 1.9% | -10.5% | -2.0% | -- | -- | 4.5% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.60 | 36% |
| MSCI EAFE | 0.74 | 58% |
| MSCI Emg Mkts | 0.98 | 96% |
Liquidity Measures
| Avg. volume (000) | 5 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.30% |
| ADV of underlying (mns) | $31,652 |
Technical Indicators
| Recent close | $53.09 |
| 30d moving avg. | $54.60 |
| Annualized volatility | 17.8% |
| Relative strength (RSI) | 40 |
| Short interest (ETF) | 0.1% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. BKEM |
Expenses vs. BKEM |
ALTAR Score™ vs. BKEM |
|---|---|---|---|---|
| DBEM | Xtrackers MSCI Emerging Markets Hedged Equity ETF | 83.1% | +55 bp | +3.7% |
| EEM | iShares MSCI Emerging Markets ETF | 80.8% | +57 bp | +3.8% |
| GSEE | Goldman Sachs MarketBeta Emerging Markets Equity ETF | 78.5% | +25 bp | +4.1% |
| EEMA | iShares MSCI Emerging Markets Asia ETF | 73.8% | +38 bp | +3.7% |
| AAXJ | iShares MSCI All Country Asia ex Japan ETF | 72.4% | +58 bp | +3.4% |
| FLAX | Franklin FTSE Asia Ex Japan ETF | 71.2% | +8 bp | +4.0% |
| EEMX | SPDR MSCI Emerging Markets Fossil Fuel Free ETF | 71.1% | +19 bp | +4.5% |
| JHEM | John Hancock Multifactor Emerging Markets ETF | 71.0% | +38 bp | +5.0% |
| IEMG | iShares Core MSCI Emerging Markets ETF | 70.8% | -2 bp | +4.1% |
| EMCR | Xtrackers Emerging Markets Carbon Reduction and Climate Impr | 69.9% | +4 bp | +5.5% |
Risk and Returns: BKEM vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023E | 2024E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2022 | 2023E | Fwd Est | 2024E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 9/28/2023
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
BKEM
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
BKEM
3.9%
Cat. Avg
7.8%
Fund Category: Emerging Market Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 3.9% |
Recommendation
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
Category Overview
There are 186 funds in the Emerging Market Equities category, with an average ALTAR Score™
of 7.8% and a standard deviation of
4.1%. BKEM's ALTAR Score™ is approximately
0.9 standard deviations
below
the category average. This places BKEM in the 18th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
BKEM
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
| Update |
Today's Trading
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Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| BKEM | 11.0 | 30.3 | 41.3 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .