BKAG vs. BTOT

Last updated Jun 4, 2026

BKAG (BNY Mellon Core Bond ETF) and BTOT (iShares Total USD Fixed Income Market ETF) are both Total Bond Market funds - BKAG tracks the Bloomberg US Aggregate Total Return Index while BTOT tracks the Bloomberg US Total Fixed Income Market Index. Both are passively managed. Their correlation of 0.95 suggests significant overlap in exposure. BKAG charges 0.00%/yr vs 0.09%/yr for BTOT.

Performance

BKAG vs. BTOT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon Core Bond ETF (BKAG) and iShares Total USD Fixed Income Market ETF (BTOT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BKAG achieves a 0.29% return, which is significantly lower than BTOT's 0.61% return.

BKAG

• 1D: -0.19%
• 1M: 0.27%
• YTD: 0.29%
• 6M: 0.12%
• 1Y: 5.10%
• 3Y*: 3.95%
• 5Y*: 0.07%
• 10Y*: —

BTOT

• 1D: 0.08%
• 1M: 0.03%
• YTD: 0.61%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BKAG vs. BTOT - Yearly Performance Comparison

	2026 (YTD)	2025
BKAG BNY Mellon Core Bond ETF	0.29%	0.13%
BTOT iShares Total USD Fixed Income Market ETF	0.61%	0.31%

Correlation

The correlation between BKAG and BTOT is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 12, 2025	0.95

Return for Risk

BKAG vs. BTOT — Risk / Return Rank

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

BKAG

BKAG Risk / Return Rank: 36
BKAG Sharpe Ratio Rank: 36
BKAG Sortino Ratio Rank: 37
BKAG Omega Ratio Rank: 34
BKAG Calmar Ratio Rank: 37
BKAG Martin Ratio Rank: 35

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.

BKAG vs. BTOT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Core Bond ETF (BKAG) and iShares Total USD Fixed Income Market ETF (BTOT). 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.

	BKAG	BTOT	Difference
Sharpe ratio Return per unit of total volatility	1.32	—	—
Sortino ratio Return per unit of downside risk	1.94	—	—
Omega ratio Gain probability vs. loss probability	1.23	—	—
Calmar ratio Return relative to maximum drawdown	1.86	—	—
Martin ratio Return relative to average drawdown	5.49	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	BKAG	BTOT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.32	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.01	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.01	0.54	-0.53

Drawdowns

BKAG vs. BTOT - Drawdown Comparison

The maximum BKAG drawdown since its inception was -18.53%, which is greater than BTOT's maximum drawdown of -2.36%. Use the drawdown chart below to compare losses from any high point for BKAG and BTOT.

Drawdown Indicators

	BKAG	BTOT	Difference
Max Drawdown Largest peak-to-trough decline	-18.53%	-2.36%	-16.17%
Max Drawdown (1Y) Largest decline over 1 year	-2.76%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-6.04%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.00%	—	—
Current Drawdown Current decline from peak	-2.32%	-0.97%	-1.35%
Average Drawdown Average peak-to-trough decline	-7.12%	-0.76%	-6.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.93%	—	—

Volatility

Volatility by Period

	BKAG	BTOT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.22%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.74%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.87%	3.70%	+0.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.01%	3.70%	+2.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.55%	3.70%	+1.85%

BKAG vs. BTOT - Expense Ratio Comparison

BKAG has a 0.00% expense ratio, which is lower than BTOT's 0.09% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

BKAG vs. BTOT - Dividend Comparison

BKAG's dividend yield for the trailing twelve months is around 4.24%, more than BTOT's 2.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
BKAG BNY Mellon Core Bond ETF	4.24%	4.17%	4.26%	3.33%	2.49%	1.55%	1.16%
BTOT iShares Total USD Fixed Income Market ETF	2.12%	0.22%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BKAG and BTOT in my portfolio?

With a correlation of 0.95, BKAG and BTOT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, BKAG or BTOT?

On fees, BKAG is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BKAG or BTOT?

BKAG is cheaper with a 0.00% expense ratio, compared with 0.09% for BTOT.

Which ETF pays a higher dividend yield, BKAG or BTOT?

BKAG has the higher dividend yield at 4.24%, compared with 2.12% for BTOT.

What is the main difference between BKAG and BTOT?

BKAG tracks Bloomberg US Aggregate Total Return Index, while BTOT tracks Bloomberg US Total Fixed Income Market Index. They also come from different issuers: BNY Mellon and iShares. Their fees differ too: 0.00% for BKAG and 0.09% for BTOT.