BKMC vs. BKAG

Last updated Jun 3, 2026

BKMC (BNY Mellon US Mid Cap Core Equity ETF) and BKAG (BNY Mellon Core Bond ETF) are both exchange-traded funds - BKMC is a Mid Cap Growth Equities fund tracking the Morningstar US Mid Cap Index, while BKAG is a Total Bond Market fund tracking the Bloomberg US Aggregate Total Return Index. Both are passively managed. Over the past 5 years, BKMC returned 8.06%/yr vs 0.17%/yr for BKAG. At a 0.16 correlation, their price movements are largely independent. BKMC charges 0.04%/yr vs 0.00%/yr for BKAG.

Performance

BKMC vs. BKAG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon US Mid Cap Core Equity ETF (BKMC) 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, BKMC achieves a 11.69% return, which is significantly higher than BKAG's 0.48% return.

BKMC

• 1D: 0.40%
• 1M: 3.22%
• YTD: 11.69%
• 6M: 12.55%
• 1Y: 24.74%
• 3Y*: 16.22%
• 5Y*: 8.06%
• 10Y*: —

BKAG

• 1D: 0.02%
• 1M: 0.18%
• YTD: 0.48%
• 6M: 0.64%
• 1Y: 5.33%
• 3Y*: 4.02%
• 5Y*: 0.17%
• 10Y*: —

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

BKMC vs. BKAG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BKMC BNY Mellon US Mid Cap Core Equity ETF	11.69%	8.74%	13.78%	17.50%	-16.03%	23.83%	48.62%
BKAG BNY Mellon Core Bond ETF	0.48%	7.23%	1.17%	5.67%	-13.29%	-1.46%	2.15%

Correlation

The correlation between BKMC and BKAG is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (All Time) Calculated using the full available price history since Apr 27, 2020	0.16

The correlation between BKMC and BKAG shifts across timeframes, from 0.16 (all time) to 0.33 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

BKMC vs. BKAG — Risk / Return Rank

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

BKMC

BKMC Risk / Return Rank: 49
BKMC Sharpe Ratio Rank: 47
BKMC Sortino Ratio Rank: 48
BKMC Omega Ratio Rank: 44
BKMC Calmar Ratio Rank: 50
BKMC Martin Ratio Rank: 55

BKAG

BKAG Risk / Return Rank: 37
BKAG Sharpe Ratio Rank: 38
BKAG Sortino Ratio Rank: 39
BKAG Omega Ratio Rank: 37
BKAG Calmar Ratio Rank: 37
BKAG Martin Ratio Rank: 35

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.

BKMC vs. BKAG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon US Mid Cap Core Equity ETF (BKMC) 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.

	BKMC	BKAG	Difference
Sharpe ratio Return per unit of total volatility	1.64	1.38	+0.26
Sortino ratio Return per unit of downside risk	2.40	2.03	+0.38
Omega ratio Gain probability vs. loss probability	1.29	1.24	+0.04
Calmar ratio Return relative to maximum drawdown	2.52	1.83	+0.69
Martin ratio Return relative to average drawdown	9.72	5.46	+4.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BKMC vs. BKAG - Sharpe Ratio Comparison

The current BKMC Sharpe Ratio is 1.64, which is comparable to the BKAG Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of BKMC 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.

Sharpe Ratios by Period

	BKMC	BKAG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.64	1.38	+0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.03	+0.40
Sharpe Ratio (All Time) Calculated using the full available price history	0.83	0.02	+0.81

Drawdowns

BKMC vs. BKAG - Drawdown Comparison

The maximum BKMC drawdown since its inception was -25.02%, which is greater than BKAG's maximum drawdown of -18.53%. Use the drawdown chart below to compare losses from any high point for BKMC and BKAG.

Drawdown Indicators

	BKMC	BKAG	Difference
Max Drawdown Largest peak-to-trough decline	-25.02%	-18.53%	-6.49%
Max Drawdown (1Y) Largest decline over 1 year	-9.82%	-2.76%	-7.06%
Max Drawdown (3Y) Largest decline over 3 years	-23.68%	-6.04%	-17.64%
Max Drawdown (5Y) Largest decline over 5 years	-25.02%	-18.00%	-7.02%
Current Drawdown Current decline from peak	0.00%	-2.13%	+2.13%
Average Drawdown Average peak-to-trough decline	-6.55%	-7.12%	+0.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.55%	0.93%	+1.62%

Volatility

BKMC vs. BKAG - Volatility Comparison

BNY Mellon US Mid Cap Core Equity ETF (BKMC) has a higher volatility of 4.20% compared to BNY Mellon Core Bond ETF (BKAG) at 1.23%. This indicates that BKMC'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

	BKMC	BKAG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.20%	1.23%	+2.97%
Volatility (6M) Calculated over the trailing 6-month period	10.97%	2.76%	+8.21%
Volatility (1Y) Calculated over the trailing 1-year period	15.12%	3.88%	+11.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.77%	6.01%	+12.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.16%	5.55%	+13.61%

BKMC vs. BKAG - Expense Ratio Comparison

BKMC has a 0.04% expense ratio, which is higher than BKAG's 0.00% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

BKMC vs. BKAG - Dividend Comparison

BKMC's dividend yield for the trailing twelve months is around 1.38%, 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%
BKMC BNY Mellon US Mid Cap Core Equity ETF	1.38%	1.35%	1.54%	1.38%	1.63%	1.15%	0.86%

Frequently Asked Questions

Can I hold both BKMC and BKAG in my portfolio?

BKMC and BKAG have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BKMC or BKAG?

BKMC has higher volatility (4.20%) compared to BKAG (1.23%). In terms of maximum drawdown, BKMC dropped -25.02% vs BKAG's -18.53%.

Which ETF is better, BKMC or BKAG?

On 5-year performance, BKMC leads with 8.06% vs 0.17% for BKAG. On fees, BKAG is cheaper at 0.00% per year. On volatility, BKAG has been the lower-risk option at 1.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BKMC or BKAG?

Over the 5-year period, BKMC has performed better with a 8.06% return vs 0.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BKMC or BKAG?

BKAG is cheaper with a 0.00% expense ratio, compared with 0.04% for BKMC.

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

BKAG has the higher dividend yield at 4.23%, compared with 1.38% for BKMC.

What is the main difference between BKMC and BKAG?

BKMC is categorized as Mid Cap Growth Equities, while BKAG is Total Bond Market. BKMC tracks Morningstar US Mid Cap Index, while BKAG tracks Bloomberg US Aggregate Total Return Index. Their fees differ too: 0.04% for BKMC and 0.00% for BKAG.

Which has better risk-adjusted returns?

BKMC currently has the higher Sharpe Ratio (1.64 vs 1.38), 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.