BKCI vs. HDMV

Last updated Jun 4, 2026

BKCI (BNY Mellon Concentrated International ETF) and HDMV (First Trust Horizon Managed Volatility Developed Intl ETF) are both Foreign Large Cap Equities funds. Both are actively managed. Over the past 3 years, BKCI returned 4.55%/yr vs 12.63%/yr for HDMV. Their correlation of 0.80 suggests significant overlap in exposure. Both charge a 0.80% expense ratio.

Performance

BKCI vs. HDMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon Concentrated International ETF (BKCI) and First Trust Horizon Managed Volatility Developed Intl ETF (HDMV). 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 HDMV's 4.23% return.

BKCI

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

HDMV

• 1D: -0.67%
• 1M: -1.37%
• YTD: 4.23%
• 6M: 5.97%
• 1Y: 9.53%
• 3Y*: 12.63%
• 5Y*: 6.31%
• 10Y*: —

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

BKCI vs. HDMV - 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%
HDMV First Trust Horizon Managed Volatility Developed Intl ETF	4.23%	29.31%	2.99%	9.62%	-11.47%	1.56%

Correlation

The correlation between BKCI and HDMV is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (All Time) Calculated using the full available price history since Dec 9, 2021	0.80

The correlation between BKCI and HDMV has been stable across timeframes, ranging from 0.74 to 0.80 - a consistent structural relationship.

BKCI vs. HDMV - Sectors Allocation Comparison

Sectors	BKCI	HDMV
Technology	23.5%	0.9%
Healthcare	19.3%	3.1%
Consumer Cyclical	13.9%	2.7%
Industrials	11.7%	15.2%
Basic Materials	11.7%	1.0%
Energy	5.5%	1.8%
Financial Services	5.5%	24.4%
Consumer Defensive	3.5%	13.0%
Real Estate	3.1%	13.8%
Communication Services	2.4%	9.4%
Utilities	-	14.6%

Return for Risk

BKCI vs. HDMV — 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

HDMV

HDMV Risk / Return Rank: 24
HDMV Sharpe Ratio Rank: 24
HDMV Sortino Ratio Rank: 22
HDMV Omega Ratio Rank: 23
HDMV Calmar Ratio Rank: 24
HDMV Martin Ratio Rank: 26

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. HDMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Concentrated International ETF (BKCI) and First Trust Horizon Managed Volatility Developed Intl ETF (HDMV). 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	HDMV	Difference
Sharpe ratio: Return per unit of total volatility	0.48	0.86	-0.38
Sortino ratio: Return per unit of downside risk	0.76	1.23	-0.46
Omega ratio: Gain probability vs. loss probability	1.09	1.16	-0.07
Calmar ratio: Return relative to maximum drawdown	0.60	1.10	-0.49
Martin ratio: Return relative to average drawdown	1.89	3.41	-1.53
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. HDMV - Sharpe Ratio Comparison

The current BKCI Sharpe Ratio is 0.48, which is lower than the HDMV Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of BKCI and HDMV, 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	HDMV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.48	0.86	-0.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.53	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.09	0.40	-0.31

Drawdowns

BKCI vs. HDMV - Drawdown Comparison

The maximum BKCI drawdown since its inception was -31.03%, roughly equal to the maximum HDMV drawdown of -32.01%. Use the drawdown chart below to compare losses from any high point for BKCI and HDMV.

Drawdown Indicators

	BKCI	HDMV	Difference
Max Drawdown Largest peak-to-trough decline	-31.03%	-32.01%	+0.98%
Max Drawdown (1Y) Largest decline over 1 year	-11.30%	-8.73%	-2.57%
Max Drawdown (3Y) Largest decline over 3 years	-20.02%	-10.33%	-9.69%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.11%	—
Current Drawdown Current decline from peak	-1.06%	-6.05%	+4.99%
Average Drawdown Average peak-to-trough decline	-9.40%	-6.77%	-2.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.60%	2.80%	+0.80%

Volatility

BKCI vs. HDMV - Volatility Comparison

The current volatility for BNY Mellon Concentrated International ETF (BKCI) is 3.62%, while First Trust Horizon Managed Volatility Developed Intl ETF (HDMV) has a volatility of 3.83%. This indicates that BKCI experiences smaller price fluctuations and is considered to be less risky than HDMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BKCI	HDMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.62%	3.83%	-0.21%
Volatility (6M) Calculated over the trailing 6-month period	11.24%	9.38%	+1.86%
Volatility (1Y) Calculated over the trailing 1-year period	14.30%	11.16%	+3.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.61%	12.05%	+4.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.61%	13.24%	+3.37%

BKCI vs. HDMV - Expense Ratio Comparison

Both BKCI and HDMV have an expense ratio of 0.80%.

Dividends

BKCI vs. HDMV - Dividend Comparison

BKCI's dividend yield for the trailing twelve months is around 1.34%, less than HDMV's 4.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%
HDMV First Trust Horizon Managed Volatility Developed Intl ETF	4.70%	5.09%	3.24%	3.14%	3.53%	3.11%	1.45%	3.63%	2.88%	3.23%	0.18%

Frequently Asked Questions

Can I hold both BKCI and HDMV in my portfolio?

BKCI and HDMV have a correlation of 0.74, 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 HDMV?

HDMV has higher volatility (3.83%) compared to BKCI (3.62%). In terms of maximum drawdown, BKCI dropped -31.03% vs HDMV's -32.01%.

Which ETF is better, BKCI or HDMV?

On 3-year performance, HDMV leads with 12.63% vs 4.55% for BKCI. Both ETFs have the same 0.80% expense ratio. On volatility, BKCI has been the lower-risk option at 3.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BKCI or HDMV?

Over the 3-year period, HDMV has performed better with a 12.63% return vs 4.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BKCI or HDMV?

BKCI and HDMV have the same expense ratio: 0.80% per year.

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

HDMV has the higher dividend yield at 4.70%, compared with 1.34% for BKCI.

What is the main difference between BKCI and HDMV?

They also come from different issuers: BNY Mellon and First Trust.

Which has better risk-adjusted returns?

HDMV currently has the higher Sharpe Ratio (0.86 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.