BKCI vs. CIVVX

Last updated Jun 4, 2026

BKCI (BNY Mellon Concentrated International ETF) and CIVVX (Causeway International Value Fund) are both Foreign Large Cap Equities funds. Over the past 3 years, BKCI returned 4.55%/yr vs 18.12%/yr for CIVVX. Their correlation of 0.83 suggests significant overlap in exposure. BKCI charges 0.80%/yr vs 1.10%/yr for CIVVX.

Performance

BKCI vs. CIVVX - Performance Comparison

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

Returns By Period

In the year-to-date period, BKCI achieves a 3.52% return, which is significantly lower than CIVVX's 6.15% return.

BKCI

• 1D: -0.32%
• 1M: 3.93%
• YTD: 3.52%
• 6M: 4.73%
• 1Y: 6.77%
• 3Y*: 4.55%
• 5Y*: —
• 10Y*: —

CIVVX

• 1D: 0.65%
• 1M: 6.70%
• YTD: 6.15%
• 6M: 11.10%
• 1Y: 25.09%
• 3Y*: 18.12%
• 5Y*: 11.59%
• 10Y*: 9.97%

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

BKCI vs. CIVVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BKCI BNY Mellon Concentrated International ETF	3.52%	9.94%	-2.44%	20.27%	-20.26%	0.38%
CIVVX Causeway International Value Fund	6.15%	38.72%	3.46%	26.99%	-6.99%	1.61%

Correlation

The correlation between BKCI and CIVVX is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (All Time) Calculated using the full available price history since Dec 9, 2021	0.83

The correlation between BKCI and CIVVX has been stable across timeframes, ranging from 0.80 to 0.83 - a consistent structural relationship.

Return for Risk

BKCI vs. CIVVX — Risk / Return Rank

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

BKCI

BKCI Risk / Return Rank: 16
BKCI Sharpe Ratio Rank: 16
BKCI Sortino Ratio Rank: 16
BKCI Omega Ratio Rank: 15
BKCI Calmar Ratio Rank: 17
BKCI Martin Ratio Rank: 18

CIVVX

CIVVX Risk / Return Rank: 24
CIVVX Sharpe Ratio Rank: 27
CIVVX Sortino Ratio Rank: 27
CIVVX Omega Ratio Rank: 28
CIVVX Calmar Ratio Rank: 18
CIVVX Martin Ratio Rank: 19

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. CIVVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Concentrated International ETF (BKCI) and Causeway International Value Fund (CIVVX). 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.

	BKCI	CIVVX	Difference
Sharpe ratio: Return per unit of total volatility	0.48	1.46	-0.99
Sortino ratio: Return per unit of downside risk	0.76	2.15	-1.38
Omega ratio: Gain probability vs. loss probability	1.09	1.27	-0.19
Calmar ratio: Return relative to maximum drawdown	0.60	1.54	-0.94
Martin ratio: Return relative to average drawdown	1.89	5.09	-3.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BKCI vs. CIVVX - Sharpe Ratio Comparison

The current BKCI Sharpe Ratio is 0.48, which is lower than the CIVVX Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of BKCI and CIVVX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BKCI	CIVVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.48	1.46	-0.99
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.64	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.52	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.09	0.40	-0.31

Drawdowns

BKCI vs. CIVVX - Drawdown Comparison

The maximum BKCI drawdown since its inception was -31.03%, smaller than the maximum CIVVX drawdown of -61.07%. Use the drawdown chart below to compare losses from any high point for BKCI and CIVVX.

Drawdown Indicators

	BKCI	CIVVX	Difference
Max Drawdown Largest peak-to-trough decline	-31.03%	-61.07%	+30.04%
Max Drawdown (1Y) Largest decline over 1 year	-11.30%	-16.20%	+4.90%
Max Drawdown (3Y) Largest decline over 3 years	-20.02%	-17.31%	-2.71%
Max Drawdown (5Y) Largest decline over 5 years	—	-28.60%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-45.13%	—
Current Drawdown Current decline from peak	-1.06%	-3.36%	+2.30%
Average Drawdown Average peak-to-trough decline	-9.40%	-11.21%	+1.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.60%	4.89%	-1.29%

Volatility

BKCI vs. CIVVX - Volatility Comparison

The current volatility for BNY Mellon Concentrated International ETF (BKCI) is 3.62%, while Causeway International Value Fund (CIVVX) has a volatility of 5.69%. This indicates that BKCI experiences smaller price fluctuations and is considered to be less risky than CIVVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BKCI	CIVVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.62%	5.69%	-2.07%
Volatility (6M) Calculated over the trailing 6-month period	11.24%	14.36%	-3.12%
Volatility (1Y) Calculated over the trailing 1-year period	14.30%	17.06%	-2.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.61%	18.16%	-1.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.61%	19.40%	-2.79%

BKCI vs. CIVVX - Expense Ratio Comparison

BKCI has a 0.80% expense ratio, which is lower than CIVVX's 1.10% expense ratio.

Dividends

BKCI vs. CIVVX - Dividend Comparison

BKCI's dividend yield for the trailing twelve months is around 1.34%, less than CIVVX's 9.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BKCI BNY Mellon Concentrated International ETF	1.34%	1.39%	0.78%	0.73%	0.46%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
CIVVX Causeway International Value Fund	9.04%	9.59%	9.07%	3.39%	1.54%	1.60%	1.11%	4.41%	3.31%	1.73%	1.69%	1.70%

Frequently Asked Questions

Can I hold both BKCI and CIVVX in my portfolio?

BKCI and CIVVX have a correlation of 0.81, 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 CIVVX?

CIVVX has higher volatility (5.69%) compared to BKCI (3.62%). In terms of maximum drawdown, BKCI dropped -31.03% vs CIVVX's -61.07%.

Which has better risk-adjusted returns?

CIVVX currently has the higher Sharpe Ratio (1.46 vs 0.48), 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.