The MBA Statement of Purpose is a bit different than other SOPs that students write.
Since most MBA programs have a condition of accepting students with work experience, applicants usually have 2 more years of their career lives to talk about.
If they both fit in your word count, yes
Include them both
But if not, write only about your co-curricular activities
Or maybe just include a couple of lines about extra-curricular
At the same time, follow the SOP writing structure
Write your Statement of Purpose (SOP) in a paragraph format with not more than 1000 words or one to one and a half pages.
Make sure you mention your full name and the program you want to apply for at the top of each page.
To make sure that your SOP is the easiest to read, use a Times New Roman font (12 points) with 1-inch margins on all sides. And more
In your Personal Statement, you'll have to emphasize more on how your personal life led you to make decisions about your professional life
So, you have to make sure you don't stray away from talking about your career and interests as you write about your personal life