BGEG vs EMM

BGEGDBaillie Gifford Emerging Markets ETF

EMMCGlobal X Emerging Markets ex-China ETF

In short

BGEG Edinburgh's patient growth house put its emerging markets strategy into an ETF wrapper in 2026: a concentrated book of high-conviction names, frontier markets in scope, stock-picked rather than copied from the MSCI index.

EMM Emerging markets with China cut out and no index to hide behind. Global X hands part of the stock picking to Mirae Asset's Hong Kong team, which runs a roughly 40-name book of would-be market leaders at a price below the active ex-China competition.

Stated mandate

BGEG The Fund seeks capital appreciation through an actively managed portfolio of common stocks and other equity securities issued by companies in emerging and frontier markets. It normally invests at least 80% of net assets in equity securities of companies from countries represented in the MSCI Emerging Markets Index.

EMM The fund seeks long-term capital growth by actively selecting emerging-market companies outside China that may achieve or maintain dominant positions in their markets, with emphasis on early winners in growing industries.

Why people hold it

• BGEG Genuinely active: a 60 to 100 stock portfolio across emerging and frontier markets, with the MSCI Emerging Markets Index as a starting universe rather than a blueprint.bailliegifford.com
• The mandate reaches past the MSCI EM roster into frontier markets, while keeping at least 80% of net assets in companies from index countries.sec.gov
• At 0.79%, the fee sits right at the median of its active emerging markets growth peer group. No brand premium attached.
• The manager is an independent partnership founded in 1908 that has run emerging markets money since 1994, and says it intends low turnover here.bailliegifford.combusinesswire.combailliegifford.com 2

• EMM 0.66% expense ratio undercuts the active ex-China field, including PEMX at 0.70% and WCME at 0.95%.
• Part of the stock picking sits with Mirae Asset Global Investments (Hong Kong), an Asia-based sub-adviser hunting early winners in growing industries.globalxetfs.com
• Portfolio matches the label: roughly 40 emerging-market names, China excluded, picked for dominant positions in their markets rather than index weight.globalxetfs.com
• Trading since 2010, with a real record behind it, and one of the stronger implementations among active ex-China peers.

Worth knowing

• BGEG A June 2026 launch with modest assets and light trading so far: little history to judge, and spreads can run wider than in the giant index EM funds.
• Roughly 70 growth names means results can diverge sharply from the MSCI EM index in either direction, and the objective is capital appreciation, not income.
• Cheaper active options share the shelf, including FFEM at 0.60% and CGNG at 0.64%, both drawing on longer-running research teams.

• EMM A smaller fund that trades lightly. Wider spreads come with the territory, and order type matters more here than in a giant EM index fund.
• Roughly 40 active picks means results can drift well away from broad EM benchmarks, in either direction, and single names carry real weight.
• Built for growth, not income: distributions land once or twice a year, and China's market is off the menu by design.

Full BGEG profile⁠

Full EMM profile⁠