BKMC vs. FAD

Last updated Jun 6, 2026

BKMC (BNY Mellon US Mid Cap Core Equity ETF) and FAD (First Trust Multi Cap Growth AlphaDEX Fund) are both Mid Cap Growth Equities funds - BKMC tracks the Morningstar US Mid Cap Index while FAD tracks the NASDAQ AlphaDEX Multi Cap Growth Index. Both are passively managed. Over the past 5 years, BKMC returned 7.49%/yr vs 10.46%/yr for FAD. Their correlation of 0.90 suggests significant overlap in exposure. BKMC charges 0.04%/yr vs 0.63%/yr for FAD.

Performance

BKMC vs. FAD - 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 First Trust Multi Cap Growth AlphaDEX Fund (FAD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BKMC achieves a 9.44% return, which is significantly lower than FAD's 13.15% return.

BKMC

• 1D: -2.24%
• 1M: -0.91%
• YTD: 9.44%
• 6M: 8.56%
• 1Y: 21.32%
• 3Y*: 15.21%
• 5Y*: 7.49%
• 10Y*: —

FAD

• 1D: -3.96%
• 1M: -0.91%
• YTD: 13.15%
• 6M: 12.13%
• 1Y: 29.88%
• 3Y*: 22.51%
• 5Y*: 10.46%
• 10Y*: 14.07%

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

BKMC vs. FAD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BKMC BNY Mellon US Mid Cap Core Equity ETF	9.44%	8.74%	13.78%	17.50%	-16.03%	23.83%	45.93%
FAD First Trust Multi Cap Growth AlphaDEX Fund	13.15%	17.23%	23.85%	19.07%	-24.06%	21.17%	60.31%

Correlation

The correlation between BKMC and FAD is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Apr 13, 2020	0.90

The correlation between BKMC and FAD has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.

BKMC vs. FAD - Sectors Allocation Comparison

Sectors	BKMC	FAD
Industrials	22.9%	26.1%
Technology	16.2%	24.1%
Financial Services	12.4%	8.0%
Healthcare	11.4%	15.4%
Consumer Cyclical	9.1%	10.8%
Real Estate	7.6%	4.1%
Basic Materials	4.6%	3.0%
Consumer Defensive	4.3%	2.4%
Communication Services	3.5%	3.1%
Energy	3.3%	1.6%
Utilities	2.4%	1.6%

Return for Risk

BKMC vs. FAD — Risk / Return Rank

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

BKMC

BKMC Risk / Return Rank: 45
BKMC Sharpe Ratio Rank: 42
BKMC Sortino Ratio Rank: 43
BKMC Omega Ratio Rank: 39
BKMC Calmar Ratio Rank: 47
BKMC Martin Ratio Rank: 52

FAD

FAD Risk / Return Rank: 53
FAD Sharpe Ratio Rank: 49
FAD Sortino Ratio Rank: 47
FAD Omega Ratio Rank: 47
FAD Calmar Ratio Rank: 60
FAD Martin Ratio Rank: 63

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. FAD - 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 First Trust Multi Cap Growth AlphaDEX Fund (FAD). 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	FAD	Difference
Sharpe ratio: Return per unit of total volatility	1.40	1.59	-0.18
Sortino ratio: Return per unit of downside risk	2.07	2.20	-0.13
Omega ratio: Gain probability vs. loss probability	1.25	1.28	-0.03
Calmar ratio: Return relative to maximum drawdown	2.18	2.81	-0.63
Martin ratio: Return relative to average drawdown	8.38	10.81	-2.43
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. FAD - Sharpe Ratio Comparison

The current BKMC Sharpe Ratio is 1.40, which is comparable to the FAD Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of BKMC and FAD, 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	FAD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.40	1.59	-0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	0.51	-0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.67	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	0.49	+0.31

Drawdowns

BKMC vs. FAD - Drawdown Comparison

The maximum BKMC drawdown since its inception was -25.02%, smaller than the maximum FAD drawdown of -54.33%. Use the drawdown chart below to compare losses from any high point for BKMC and FAD.

Drawdown Indicators

	BKMC	FAD	Difference
Max Drawdown Largest peak-to-trough decline	-25.02%	-54.33%	+29.31%
Max Drawdown (1Y) Largest decline over 1 year	-9.82%	-10.66%	+0.84%
Max Drawdown (3Y) Largest decline over 3 years	-23.68%	-23.55%	-0.13%
Max Drawdown (5Y) Largest decline over 5 years	-25.02%	-31.99%	+6.97%
Max Drawdown (10Y) Largest decline over 10 years	—	-37.25%	—
Current Drawdown Current decline from peak	-2.24%	-3.96%	+1.72%
Average Drawdown Average peak-to-trough decline	-6.54%	-9.64%	+3.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.55%	2.77%	-0.22%

Volatility

BKMC vs. FAD - Volatility Comparison

The current volatility for BNY Mellon US Mid Cap Core Equity ETF (BKMC) is 4.46%, while First Trust Multi Cap Growth AlphaDEX Fund (FAD) has a volatility of 6.91%. This indicates that BKMC experiences smaller price fluctuations and is considered to be less risky than FAD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BKMC	FAD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.46%	6.91%	-2.45%
Volatility (6M) Calculated over the trailing 6-month period	11.18%	14.72%	-3.54%
Volatility (1Y) Calculated over the trailing 1-year period	15.28%	18.94%	-3.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.79%	20.60%	-1.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.17%	21.22%	-2.05%

BKMC vs. FAD - Expense Ratio Comparison

BKMC has a 0.04% expense ratio, which is lower than FAD's 0.63% expense ratio.

Dividends

BKMC vs. FAD - Dividend Comparison

BKMC's dividend yield for the trailing twelve months is around 1.40%, more than FAD's 0.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BKMC BNY Mellon US Mid Cap Core Equity ETF	1.40%	1.35%	1.54%	1.38%	1.63%	1.15%	0.86%	0.00%	0.00%	0.00%	0.00%	0.00%
FAD First Trust Multi Cap Growth AlphaDEX Fund	0.10%	0.09%	0.59%	0.51%	0.60%	0.09%	0.32%	0.48%	0.20%	0.22%	0.64%	0.41%

Frequently Asked Questions

Can I hold both BKMC and FAD in my portfolio?

BKMC and FAD have a correlation of 0.89, 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 FAD?

FAD has higher volatility (6.91%) compared to BKMC (4.46%). In terms of maximum drawdown, BKMC dropped -25.02% vs FAD's -54.33%.

Which ETF is better, BKMC or FAD?

On 5-year performance, FAD leads with 10.46% vs 7.49% for BKMC. On fees, BKMC is cheaper at 0.04% per year. On volatility, BKMC has been the lower-risk option at 4.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BKMC or FAD?

Over the 5-year period, FAD has performed better with a 10.46% return vs 7.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BKMC or FAD?

BKMC is cheaper with a 0.04% expense ratio, compared with 0.63% for FAD.

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

BKMC has the higher dividend yield at 1.40%, compared with 0.10% for FAD.

What is the main difference between BKMC and FAD?

BKMC tracks Morningstar US Mid Cap Index, while FAD tracks NASDAQ AlphaDEX Multi Cap Growth Index. They also come from different issuers: BNY Mellon and First Trust. Their fees differ too: 0.04% for BKMC and 0.63% for FAD.

Which has better risk-adjusted returns?

FAD currently has the higher Sharpe Ratio (1.59 vs 1.40), 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.