BKAG vs. FXNAX
Compare and contrast key facts about BNY Mellon Core Bond ETF (BKAG) and Fidelity U.S. Bond Index Fund (FXNAX).
BKAG is a passively managed fund by The Bank of New York Mellon Corp. that tracks the performance of the Bloomberg Barclays US Aggregate Bond Index. It was launched on Apr 24, 2020. FXNAX is managed by Fidelity.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BKAG or FXNAX.
Key characteristics
| BKAG | FXNAX | |
|---|---|---|
| YTD Return | -2.88% | -2.79% |
| 1Y Return | -1.12% | -1.08% |
| 3Y Return (Ann) | -3.50% | -3.49% |
| Sharpe Ratio | -0.08 | -0.20 |
| Daily Std Dev | 6.84% | 6.72% |
| Max Drawdown | -18.53% | -18.64% |
| Current Drawdown | -12.80% | -12.92% |
Correlation
The correlation between BKAG and FXNAX is 0.96, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
BKAG vs. FXNAX - Performance Comparison
The year-to-date returns for both investments are quite close, with BKAG having a -2.88% return and FXNAX slightly higher at -2.79%. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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BKAG vs. FXNAX - Expense Ratio Comparison
BKAG has a 0.00% expense ratio, which is lower than FXNAX's 0.03% 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%.
Risk-Adjusted Performance
BKAG vs. FXNAX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Core Bond ETF (BKAG) and Fidelity U.S. Bond Index Fund (FXNAX). 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.
Dividends
BKAG vs. FXNAX - Dividend Comparison
BKAG's dividend yield for the trailing twelve months is around 3.69%, more than FXNAX's 2.91% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BKAG BNY Mellon Core Bond ETF | 3.43% | 3.33% | 2.49% | 1.55% | 1.16% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FXNAX Fidelity U.S. Bond Index Fund | 2.91% | 2.91% | 2.43% | 2.06% | 3.07% | 2.67% | 2.73% | 2.58% | 2.54% | 2.75% | 2.59% | 2.39% |
Drawdowns
BKAG vs. FXNAX - Drawdown Comparison
The maximum BKAG drawdown since its inception was -18.53%, roughly equal to the maximum FXNAX drawdown of -18.64%. Use the drawdown chart below to compare losses from any high point for BKAG and FXNAX. For additional features, visit the drawdowns tool.
Volatility
BKAG vs. FXNAX - Volatility Comparison
BNY Mellon Core Bond ETF (BKAG) and Fidelity U.S. Bond Index Fund (FXNAX) have volatilities of 1.91% and 1.85%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.