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BCEM vs PEMX

Baron Emerging Markets Select ETF

BCEMCNYSE

Putnam Emerging Markets Ex-China ETF

PEMXCNYSE Arca

Overlap

Expense ratio

PEMX −0.10pt a year

BCEM0.80%PEMX0.70%

Avg volume · 30D

BCEM 5.3×the volume

BCEM7.51KPEMX1.41K

BCEM vs PEMX Performance

Jul 31, 2026 – Oct 30, 2026

−8.6%BCEM−4.9%PEMX

Jul 31, 2026 to Oct 30, 2026. BCEM −8.6%. PEMX −4.9%. Use the arrow keys to read each point.0%5%10%Jul 2026Sep 2026Oct 2026
Expense ratio
BCEM 0.80%
PEMX 0.70%, better
Fund size
BCEM $49M
PEMX $30M
1Y total return
BCEM No data
PEMX +23.2%
Yield (12M)
BCEM No data
PEMX 5.83%
Holdings
BCEM 80
PEMX 55
Avg volume (30D)
BCEM 7.51K sh, better
PEMX 1.41K sh
NAV per share
BCEM $23.89
PEMX $78.33
52W range

ETF.net Grade

BCEM: Cost 37, Risk 30, Mission not scored, Tradability 40, Holdings 66, Durability 52. PEMX: Cost 58, Risk 52, Mission 100, Tradability 19, Holdings 43, Durability 63.
Pillar letters and Scores for BCEM, PEMX, with each pillar’s weight
PillarBCEMPEMX
Cost30% weightD37B58Higher
Mission25% weightNot scoredA100
Risk15% weightD30C52Higher
Tradability15% weightC40HigherF19
Holdings10% weightB66HigherC43
Durability5% weightC52B63Higher

Rank among Emerging Markets Active Growth funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. BCEM and PEMX are both graded against the same 9 Emerging Markets Active Growth funds, so their Grades compare head to head.

Emerging Markets Active Growth⁠

Category · 9 funds
See all 9 ›

PEMX ranks 4th and BCEM 5th of 9 funds in the Emerging Markets Active Growth Category.

  1. Rank 1ACGNGCapital Group New Geography Equity ETFScore 77
  2. Rank 2AFFEMFidelity Fundamental Emerging Markets ETFScore 74
  3. Rank 3CEMMGlobal X Emerging Markets ex-China ETFScore 53
  4. Rank 4CPEMXPutnam Emerging Markets Ex-China ETFScore 47
  5. Rank 5CBCEMBaron Emerging Markets Select ETFScore 41
  6. Rank 6DBGEGBaillie Gifford Emerging Markets ETFScore 39

Our read on each fund

ETF.net Research

BCEMCBaron Emerging Markets Select ETF

PEMXCPutnam Emerging Markets Ex-China ETF

In short

BCEM Baron took its 44-year growth-stock playbook into emerging markets and put it in an ETF: founder-led, capital-efficient companies of any size, run by the manager who has led Baron's EM strategy since 2011.

PEMX China swamps most emerging-market funds. PEMX cuts it out entirely and runs an active, roughly 60-stock book across the rest of the developing world, priced well below the typical active EM manager.

Stated mandate

BCEM The Fund seeks capital appreciation.

PEMX The fund seeks long-term capital appreciation. It invests primarily in emerging-market common stocks outside China and Hong Kong, using active fundamental research to identify companies with favorable investment potential.

Why people hold it

  • BCEM Actual stock picking, not index tracking. The mandate hunts high-quality EM growth companies that are founder-led, entrepreneurial and capital-efficient, with durable competitive advantages.baroncapitalgroup.com
  • The process isn't brand new. Michael Kass has run Baron's emerging markets strategy since 2011, and the ETF applies that same bottom-up research approach.businesswire.com
  • Go-anywhere on size: small, mid and large caps compete for the same portfolio slots, instead of defaulting to the mega-caps that anchor standard EM benchmarks.baroncapitalgroup.com
  • PEMX 0.70% a year against a 0.95% median for its active peer group. Cheap freight for a stock-picking mandate.
  • About 60 names, not 600. Concentrated enough that the managers' calls actually show up in the portfolio.
  • Does what the label says: an ex-China portfolio measured against the MSCI Emerging Markets ex-China Index, with no China drift in the holdings.franklintempleton.com
  • Trading since 2023 under Franklin Templeton, and it sits in the upper half of the small group of active EM ex-China funds we track.

Worth knowing

  • BCEM 0.80% a year is above the typical active EM fund and roughly double systematic rivals like AVEM and JEMA at 0.33%. That's the toll for a named stock picker.
  • The ETF launched in 2026, so its own track record is short. Most of the evidence sits with the older Baron strategy behind it, in a different wrapper.businesswire.com
  • Non-diversified by design, with at least 80% of net assets in EM growth equities, so a few names plus currency and political swings can drive the ride.usnews.com
  • PEMX Not the cheapest door into ex-China: Global X's EMM charges 0.66%.
  • Small and thinly traded. Spreads can widen, so limit orders do the heavy lifting.
  • Zero China by design, so results diverge from a broad EM fund and any China sleeve has to come from somewhere else.franklintempleton.com

Full BCEM profile⁠

Full PEMX profile⁠

BCEM vs PEMX Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BCEM vs PEMX Cost

Overpaying BCEM vs PEMX

$1,740

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • BCEM 0.80%

    $15,346

  • PEMX 0.70%

    $13,606

$10,000
30 years

Cost over time

  • BCEM 0.80%
  • PEMX 0.70%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530BCEM $15,346PEMX $13,606

Year by year

YearBCEMPEMXOverpaying
10$1,422$1,250$172
20$5,393$4,760$633
30$15,346$13,606$1,740

Expense ratio

  • 0.80%BCEM
  • 0.70%PEMX, cheaper
  • Middle half of Emerging Markets Active Growth funds
  • Median 0.79%

PEMX 4th cheapest of 9 funds

BCEM 6th cheapest of 9 funds

BCEM vs PEMX Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
BCEM No data
PEMX 5.83%
Payout (12M)
BCEM None
PEMX $4.50
Last payment
BCEM No data
PEMX $4.50
Ex-dividend
BCEM No data
PEMX Dec 19, 2025
Paid on
BCEM No data
PEMX Dec 23, 2025
Frequency
BCEM No data
PEMX Annual

Distribution history

Per share, 2023 to 2026, same scale for both

BCEMAll BCEM payments⁠

No distribution history available.

PEMXAnnual · 3 paymentsAll PEMX payments⁠
One bar per payment. 3 payments from 2023 to 2026 YTD. Dec 26, 2023 $0.33; Dec 27, 2024 $2.57; Dec 19, 2025 $4.50. Use the arrow keys to read each point.$0$520232026YTD

BCEM vs PEMX Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
BCEM No dataPEMX 19.8%
Return per unit of riskSharpe ratio, 3 years
BCEM No dataPEMX 1.21
Worst fallMax drawdown, 5 years
BCEM No dataPEMX −19.0%since May 2023
Market sensitivityBeta, 5 years
BCEM 1.26PEMX 1.18

BCEM and PEMX in the news

All news⁠

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