BCPL vs. IEO

Last updated Jun 5, 2026

BCPL (BNY Mellon Core Plus ETF) and IEO (iShares U.S. Oil & Gas Exploration & Production ETF) are both exchange-traded funds - BCPL is a Intermediate Core-Plus Bond fund actively managed by BNY Mellon, while IEO is a Energy Equities fund tracking the Dow Jones U.S. Select Oil Exploration & Production Index. BCPL is actively managed, while IEO is passively managed. At a correlation of -0.46, they often move in opposite directions. BCPL charges 0.40%/yr vs 0.42%/yr for IEO.

Performance

BCPL vs. IEO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon Core Plus ETF (BCPL) and iShares U.S. Oil & Gas Exploration & Production ETF (IEO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BCPL

• 1D: 0.12%
• 1M: 0.34%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IEO

• 1D: -0.27%
• 1M: -3.10%
• YTD: 34.23%
• 6M: 25.78%
• 1Y: 43.06%
• 3Y*: 16.29%
• 5Y*: 18.90%
• 10Y*: 10.17%

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

BCPL vs. IEO - Yearly Performance Comparison

	2026 (YTD)
BCPL BNY Mellon Core Plus ETF	0.67%
IEO iShares U.S. Oil & Gas Exploration & Production ETF	32.24%

Correlation

The correlation between BCPL and IEO is -0.46, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 13, 2026	-0.46

Return for Risk

BCPL vs. IEO — Risk / Return Rank

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

IEO

IEO Risk / Return Rank: 51
IEO Sharpe Ratio Rank: 51
IEO Sortino Ratio Rank: 46
IEO Omega Ratio Rank: 45
IEO Calmar Ratio Rank: 62
IEO Martin Ratio Rank: 49

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.

BCPL vs. IEO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Core Plus ETF (BCPL) and iShares U.S. Oil & Gas Exploration & Production ETF (IEO). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	BCPL	IEO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.73	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.62	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.29	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.17	+0.26

Drawdowns

BCPL vs. IEO - Drawdown Comparison

The maximum BCPL drawdown since its inception was -2.95%, smaller than the maximum IEO drawdown of -79.17%. Use the drawdown chart below to compare losses from any high point for BCPL and IEO.

Drawdown Indicators

	BCPL	IEO	Difference
Max Drawdown Largest peak-to-trough decline	-2.95%	-79.17%	+76.22%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.30%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-31.46%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-31.46%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-75.00%	—
Current Drawdown Current decline from peak	-1.00%	-7.55%	+6.55%
Average Drawdown Average peak-to-trough decline	-1.05%	-26.27%	+25.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.30%	—

Volatility

Volatility by Period

	BCPL	IEO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.31%	—
Volatility (6M) Calculated over the trailing 6-month period	—	19.80%	—
Volatility (1Y) Calculated over the trailing 1-year period	4.02%	25.11%	-21.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.02%	30.53%	-26.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.02%	34.99%	-30.97%

BCPL vs. IEO - Expense Ratio Comparison

BCPL has a 0.40% expense ratio, which is lower than IEO's 0.42% expense ratio.

Dividends

BCPL vs. IEO - Dividend Comparison

BCPL's dividend yield for the trailing twelve months is around 1.56%, less than IEO's 1.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BCPL BNY Mellon Core Plus ETF	1.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IEO iShares U.S. Oil & Gas Exploration & Production ETF	1.97%	2.61%	2.63%	3.00%	3.77%	2.62%	3.17%	1.85%	1.67%	0.94%	0.98%	2.03%

Frequently Asked Questions

Can I hold both BCPL and IEO in my portfolio?

BCPL and IEO have a correlation of -0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BCPL or IEO?

On fees, BCPL is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BCPL or IEO?

BCPL is cheaper with a 0.40% expense ratio, compared with 0.42% for IEO.

Which ETF pays a higher dividend yield, BCPL or IEO?

IEO has the higher dividend yield at 1.97%, compared with 1.56% for BCPL.

What is the main difference between BCPL and IEO?

BCPL is categorized as Intermediate Core-Plus Bond, while IEO is Energy Equities. They also come from different issuers: BNY Mellon and iShares. Their fees differ too: 0.40% for BCPL and 0.42% for IEO.