BKGI vs. HDMV

Last updated Jun 23, 2026

BKGI (Bny Mellon Global Infrastructure Income ETF) and HDMV (First Trust Horizon Managed Volatility Developed Intl ETF) are both exchange-traded funds - BKGI is a Energy Equities fund actively managed by BNY Mellon, while HDMV is a Foreign Large Cap Equities fund actively managed by First Trust. Both are actively managed. Over the past 3 years, BKGI returned 21.90%/yr vs 13.37%/yr for HDMV. A 0.69 correlation means they provide meaningful diversification when combined. BKGI charges 0.65%/yr vs 0.80%/yr for HDMV.

Performance

BKGI vs. HDMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bny Mellon Global Infrastructure Income ETF (BKGI) 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, BKGI achieves a 11.73% return, which is significantly higher than HDMV's 5.77% return.

BKGI

• 1D: 0.25%
• 1M: -3.46%
• YTD: 11.73%
• 6M: 12.71%
• 1Y: 21.46%
• 3Y*: 21.90%
• 5Y*: —
• 10Y*: —

HDMV

• 1D: 0.42%
• 1M: -0.83%
• YTD: 5.77%
• 6M: 6.21%
• 1Y: 12.13%
• 3Y*: 13.37%
• 5Y*: 6.88%
• 10Y*: —

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

BKGI vs. HDMV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BKGI Bny Mellon Global Infrastructure Income ETF	11.73%	37.53%	12.35%	9.72%	8.54%
HDMV First Trust Horizon Managed Volatility Developed Intl ETF	5.77%	29.31%	2.99%	9.62%	11.06%

Correlation

The correlation between BKGI and HDMV is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (All Time) Calculated using the full available price history since Nov 3, 2022	0.69

The correlation between BKGI and HDMV has been stable across timeframes, ranging from 0.65 to 0.69 - a consistent structural relationship.

BKGI vs. HDMV - Sectors Allocation Comparison

Sectors	BKGI	HDMV
Utilities	46.8%	14.4%
Energy	20.6%	1.7%
Real Estate	18.1%	13.7%
Industrials	11.8%	15.4%
Communication Services	2.7%	9.5%
Basic Materials	-	1.0%
Consumer Cyclical	-	2.7%
Consumer Defensive	-	13.1%
Financial Services	-	24.5%
Healthcare	-	3.2%
Technology	-	0.9%

Return for Risk

BKGI vs. HDMV — Risk / Return Rank

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

BKGI

BKGI Risk / Return Rank: 60
BKGI Sharpe Ratio Rank: 57
BKGI Sortino Ratio Rank: 55
BKGI Omega Ratio Rank: 56
BKGI Calmar Ratio Rank: 72
BKGI Martin Ratio Rank: 63

HDMV

HDMV Risk / Return Rank: 29
HDMV Sharpe Ratio Rank: 30
HDMV Sortino Ratio Rank: 29
HDMV Omega Ratio Rank: 30
HDMV Calmar Ratio Rank: 29
HDMV Martin Ratio Rank: 30

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.

BKGI vs. HDMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bny Mellon Global Infrastructure Income ETF (BKGI) 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.

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.

	BKGI	HDMV	Difference
Sharpe ratio: Return per unit of total volatility	1.85	1.07	+0.78
Sortino ratio: Return per unit of downside risk	2.57	1.51	+1.06
Omega ratio: Gain probability vs. loss probability	1.34	1.20	+0.14
Calmar ratio: Return relative to maximum drawdown	3.50	1.40	+2.10
Martin ratio: Return relative to average drawdown	11.02	4.04	+6.98

BKGI vs. HDMV - Sharpe Ratio Comparison

The current BKGI Sharpe Ratio is 1.85, which is higher than the HDMV Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of BKGI 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.

Drawdowns

BKGI vs. HDMV - Drawdown Comparison

The maximum BKGI drawdown since its inception was -14.79%, smaller than the maximum HDMV drawdown of -32.01%. Use the drawdown chart below to compare losses from any high point for BKGI and HDMV.

Drawdown Indicators

	BKGI	HDMV	Difference
Max Drawdown Largest peak-to-trough decline	-14.79%	-32.01%	+17.22%
Max Drawdown (1Y) Largest decline over 1 year	-6.16%	-8.73%	+2.57%
Max Drawdown (3Y) Largest decline over 3 years	-14.16%	-10.33%	-3.83%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.11%	—
Current Drawdown Current decline from peak	-3.55%	-4.66%	+1.11%
Average Drawdown Average peak-to-trough decline	-2.56%	-6.76%	+4.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	3.01%	-1.06%

Volatility

BKGI vs. HDMV - Volatility Comparison

Bny Mellon Global Infrastructure Income ETF (BKGI) and First Trust Horizon Managed Volatility Developed Intl ETF (HDMV) have volatilities of 3.36% and 3.38%, 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.

Volatility by Period

	BKGI	HDMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.36%	3.38%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	9.26%	9.70%	-0.44%
Volatility (1Y) Calculated over the trailing 1-year period	11.65%	11.42%	+0.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.03%	12.08%	+1.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.03%	13.23%	+0.80%

BKGI vs. HDMV - Expense Ratio Comparison

BKGI has a 0.65% expense ratio, which is lower than HDMV's 0.80% expense ratio.

Dividends

BKGI vs. HDMV - Dividend Comparison

BKGI's dividend yield for the trailing twelve months is around 2.70%, less than HDMV's 4.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BKGI Bny Mellon Global Infrastructure Income ETF	2.70%	2.65%	4.55%	4.55%	0.53%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HDMV First Trust Horizon Managed Volatility Developed Intl ETF	4.63%	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 BKGI and HDMV in my portfolio?

BKGI and HDMV have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BKGI or HDMV?

HDMV has higher volatility (3.38%) compared to BKGI (3.36%). In terms of maximum drawdown, BKGI dropped -14.79% vs HDMV's -32.01%.

Which ETF is better, BKGI or HDMV?

On 3-year performance, BKGI leads with 21.90% vs 13.37% for HDMV. On fees, BKGI is cheaper at 0.65% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BKGI or HDMV?

Over the 3-year period, BKGI has performed better with a 21.90% return vs 13.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BKGI or HDMV?

BKGI is cheaper with a 0.65% expense ratio, compared with 0.80% for HDMV.

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

HDMV has the higher dividend yield at 4.63%, compared with 2.70% for BKGI.

What is the main difference between BKGI and HDMV?

BKGI is categorized as Energy Equities, while HDMV is Foreign Large Cap Equities. They also come from different issuers: BNY Mellon and First Trust. Their fees differ too: 0.65% for BKGI and 0.80% for HDMV.

Which has better risk-adjusted returns?

BKGI currently has the higher Sharpe Ratio (1.85 vs 1.07), 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.