BKCI vs. BKAG

Last updated Jun 24, 2026

BKCI (BNY Mellon Concentrated International ETF) and BKAG (BNY Mellon Core Bond ETF) are both exchange-traded funds - BKCI is a Foreign Large Cap Equities fund actively managed by BNY Mellon, while BKAG is a Total Bond Market fund tracking the Bloomberg US Aggregate Total Return Index. BKCI is actively managed, while BKAG is passively managed. Over the past 3 years, BKCI returned 4.50%/yr vs 3.97%/yr for BKAG. At a 0.27 correlation, their price movements are largely independent. BKCI charges 0.80%/yr vs 0.00%/yr for BKAG.

Performance

BKCI vs. BKAG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon Concentrated International ETF (BKCI) and BNY Mellon Core Bond ETF (BKAG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BKCI achieves a 1.88% return, which is significantly higher than BKAG's 0.55% return.

BKCI

• 1D: -0.70%
• 1M: -0.65%
• YTD: 1.88%
• 6M: 1.50%
• 1Y: 6.30%
• 3Y*: 4.50%
• 5Y*: —
• 10Y*: —

BKAG

• 1D: 0.19%
• 1M: 0.74%
• YTD: 0.55%
• 6M: 0.69%
• 1Y: 4.37%
• 3Y*: 3.97%
• 5Y*: 0.05%
• 10Y*: —

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

BKCI vs. BKAG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BKCI BNY Mellon Concentrated International ETF	1.88%	9.94%	-2.44%	20.27%	-20.26%	0.38%
BKAG BNY Mellon Core Bond ETF	0.55%	7.23%	1.17%	5.67%	-13.29%	-0.12%

Correlation

The correlation between BKCI and BKAG is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (All Time) Calculated using the full available price history since Dec 8, 2021	0.27

The correlation between BKCI and BKAG shifts across timeframes, from 0.27 (all time) to 0.42 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

BKCI vs. BKAG — Risk / Return Rank

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

BKCI

BKCI Risk / Return Rank: 15
BKCI Sharpe Ratio Rank: 15
BKCI Sortino Ratio Rank: 14
BKCI Omega Ratio Rank: 14
BKCI Calmar Ratio Rank: 15
BKCI Martin Ratio Rank: 17

BKAG

BKAG Risk / Return Rank: 32
BKAG Sharpe Ratio Rank: 33
BKAG Sortino Ratio Rank: 33
BKAG Omega Ratio Rank: 31
BKAG Calmar Ratio Rank: 33
BKAG Martin Ratio Rank: 31

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.

BKCI vs. BKAG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Concentrated International ETF (BKCI) and BNY Mellon Core Bond ETF (BKAG). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BKCI	BKAG	Difference
Sharpe ratio: Return per unit of total volatility	0.43	1.15	-0.72
Sortino ratio: Return per unit of downside risk	0.70	1.69	-0.99
Omega ratio: Gain probability vs. loss probability	1.08	1.20	-0.12
Calmar ratio: Return relative to maximum drawdown	0.56	1.59	-1.03
Martin ratio: Return relative to average drawdown	1.76	4.43	-2.67

BKCI vs. BKAG - Sharpe Ratio Comparison

The current BKCI Sharpe Ratio is 0.43, which is lower than the BKAG Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of BKCI and BKAG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BKCI vs. BKAG - Drawdown Comparison

The maximum BKCI drawdown since its inception was -31.03%, which is greater than BKAG's maximum drawdown of -18.53%. Use the drawdown chart below to compare losses from any high point for BKCI and BKAG.

Drawdown Indicators

	BKCI	BKAG	Difference
Max Drawdown Largest peak-to-trough decline	-31.03%	-18.53%	-12.50%
Max Drawdown (1Y) Largest decline over 1 year	-11.30%	-2.76%	-8.54%
Max Drawdown (3Y) Largest decline over 3 years	-20.02%	-6.04%	-13.98%
Max Drawdown (5Y) Largest decline over 5 years	—	-18.00%	—
Current Drawdown Current decline from peak	-2.63%	-2.06%	-0.57%
Average Drawdown Average peak-to-trough decline	-9.31%	-7.08%	-2.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.58%	0.99%	+2.59%

Volatility

BKCI vs. BKAG - Volatility Comparison

BNY Mellon Concentrated International ETF (BKCI) has a higher volatility of 4.25% compared to BNY Mellon Core Bond ETF (BKAG) at 1.05%. This indicates that BKCI's price experiences larger fluctuations and is considered to be riskier than BKAG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BKCI	BKAG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.25%	1.05%	+3.20%
Volatility (6M) Calculated over the trailing 6-month period	11.70%	2.81%	+8.89%
Volatility (1Y) Calculated over the trailing 1-year period	14.58%	3.82%	+10.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.62%	6.02%	+10.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.62%	5.54%	+11.08%

BKCI vs. BKAG - Expense Ratio Comparison

BKCI has a 0.80% expense ratio, which is higher than BKAG's 0.00% expense ratio.

Dividends

BKCI vs. BKAG - Dividend Comparison

BKCI's dividend yield for the trailing twelve months is around 1.36%, less than BKAG's 4.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
BKAG BNY Mellon Core Bond ETF	4.23%	4.17%	4.26%	3.33%	2.49%	1.55%	1.16%
BKCI BNY Mellon Concentrated International ETF	1.36%	1.39%	0.78%	0.73%	0.46%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BKCI and BKAG in my portfolio?

BKCI and BKAG have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BKCI or BKAG?

BKCI has higher volatility (4.25%) compared to BKAG (1.05%). In terms of maximum drawdown, BKCI dropped -31.03% vs BKAG's -18.53%.

Which ETF is better, BKCI or BKAG?

On 3-year performance, BKCI leads with 4.50% vs 3.97% for BKAG. On fees, BKAG is cheaper at 0.00% per year. On volatility, BKAG has been the lower-risk option at 1.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BKCI or BKAG?

Over the 3-year period, BKCI has performed better with a 4.50% return vs 3.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BKCI or BKAG?

BKAG is cheaper with a 0.00% expense ratio, compared with 0.80% for BKCI.

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

BKAG has the higher dividend yield at 4.23%, compared with 1.36% for BKCI.

What is the main difference between BKCI and BKAG?

BKCI is categorized as Foreign Large Cap Equities, while BKAG is Total Bond Market. Their fees differ too: 0.80% for BKCI and 0.00% for BKAG.

Which has better risk-adjusted returns?

BKAG currently has the higher Sharpe Ratio (1.15 vs 0.43), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.