BKMC vs. XMHQ

Last updated Jun 3, 2026

BKMC (BNY Mellon US Mid Cap Core Equity ETF) and XMHQ (Invesco S&P MidCap Quality ETF) are both exchange-traded funds - BKMC is a Mid Cap Growth Equities fund tracking the Morningstar US Mid Cap Index, while XMHQ is a Mid Cap Blend Equities fund tracking the S&P MidCap 400 Index. Both are passively managed. Over the past 5 years, BKMC returned 8.06%/yr vs 9.42%/yr for XMHQ. Their correlation of 0.92 suggests significant overlap in exposure. BKMC charges 0.04%/yr vs 0.25%/yr for XMHQ.

Performance

BKMC vs. XMHQ - 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 Invesco S&P MidCap Quality ETF (XMHQ). 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 XMHQ's 8.95% return.

BKMC

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

XMHQ

• 1D: 0.23%
• 1M: 3.20%
• YTD: 8.95%
• 6M: 9.84%
• 1Y: 15.30%
• 3Y*: 16.36%
• 5Y*: 9.42%
• 10Y*: 12.78%

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

BKMC vs. XMHQ - 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%	45.93%
XMHQ Invesco S&P MidCap Quality ETF	8.95%	4.71%	16.79%	29.51%	-12.42%	20.98%	50.43%

Correlation

The correlation between BKMC and XMHQ is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.94
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	0.92

The correlation between BKMC and XMHQ has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

BKMC vs. XMHQ - Sectors Allocation Comparison

Sectors	BKMC	XMHQ
Industrials	22.9%	25.8%
Technology	16.2%	12.1%
Financial Services	12.4%	15.1%
Healthcare	11.4%	19.7%
Consumer Cyclical	9.1%	9.7%
Real Estate	7.6%	-
Basic Materials	4.6%	4.8%
Consumer Defensive	4.3%	3.9%
Communication Services	3.5%	2.7%
Energy	3.3%	6.7%
Utilities	2.4%	2.2%

Return for Risk

BKMC vs. XMHQ — 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

XMHQ

XMHQ Risk / Return Rank: 30
XMHQ Sharpe Ratio Rank: 28
XMHQ Sortino Ratio Rank: 29
XMHQ Omega Ratio Rank: 26
XMHQ Calmar Ratio Rank: 34
XMHQ Martin Ratio Rank: 33

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. XMHQ - 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 Invesco S&P MidCap Quality ETF (XMHQ). 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	XMHQ	Difference
Sharpe ratio Return per unit of total volatility	1.64	0.99	+0.65
Sortino ratio Return per unit of downside risk	2.40	1.56	+0.85
Omega ratio Gain probability vs. loss probability	1.29	1.18	+0.11
Calmar ratio Return relative to maximum drawdown	2.52	1.72	+0.80
Martin ratio Return relative to average drawdown	9.72	5.04	+4.68
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. XMHQ - Sharpe Ratio Comparison

The current BKMC Sharpe Ratio is 1.64, which is higher than the XMHQ Sharpe Ratio of 0.99. The chart below compares the historical Sharpe Ratios of BKMC and XMHQ, 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	XMHQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.64	0.99	+0.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.46	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.62	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.83	0.45	+0.38

Drawdowns

BKMC vs. XMHQ - Drawdown Comparison

The maximum BKMC drawdown since its inception was -25.02%, smaller than the maximum XMHQ drawdown of -58.19%. Use the drawdown chart below to compare losses from any high point for BKMC and XMHQ.

Drawdown Indicators

	BKMC	XMHQ	Difference
Max Drawdown Largest peak-to-trough decline	-25.02%	-58.19%	+33.17%
Max Drawdown (1Y) Largest decline over 1 year	-9.82%	-8.85%	-0.97%
Max Drawdown (3Y) Largest decline over 3 years	-23.68%	-24.56%	+0.88%
Max Drawdown (5Y) Largest decline over 5 years	-25.02%	-25.47%	+0.45%
Max Drawdown (10Y) Largest decline over 10 years	—	-36.90%	—
Current Drawdown Current decline from peak	0.00%	-0.37%	+0.37%
Average Drawdown Average peak-to-trough decline	-6.55%	-9.29%	+2.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.55%	3.02%	-0.47%

Volatility

BKMC vs. XMHQ - Volatility Comparison

The current volatility for BNY Mellon US Mid Cap Core Equity ETF (BKMC) is 4.20%, while Invesco S&P MidCap Quality ETF (XMHQ) has a volatility of 4.70%. This indicates that BKMC experiences smaller price fluctuations and is considered to be less risky than XMHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BKMC	XMHQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.20%	4.70%	-0.50%
Volatility (6M) Calculated over the trailing 6-month period	10.97%	11.12%	-0.15%
Volatility (1Y) Calculated over the trailing 1-year period	15.12%	15.46%	-0.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.77%	20.74%	-1.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.16%	20.71%	-1.55%

BKMC vs. XMHQ - Expense Ratio Comparison

BKMC has a 0.04% expense ratio, which is lower than XMHQ's 0.25% expense ratio. Despite the difference, 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. XMHQ - Dividend Comparison

BKMC's dividend yield for the trailing twelve months is around 1.38%, more than XMHQ's 0.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BKMC BNY Mellon US Mid Cap Core Equity ETF	1.38%	1.35%	1.54%	1.38%	1.63%	1.15%	0.86%	0.00%	0.00%	0.00%	0.00%	0.00%
XMHQ Invesco S&P MidCap Quality ETF	0.55%	0.64%	5.20%	0.73%	1.72%	1.00%	1.12%	1.22%	1.59%	1.06%	1.63%	1.34%

Frequently Asked Questions

Can I hold both BKMC and XMHQ in my portfolio?

With a correlation of 0.92, BKMC and XMHQ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BKMC or XMHQ?

XMHQ has higher volatility (4.70%) compared to BKMC (4.20%). In terms of maximum drawdown, BKMC dropped -25.02% vs XMHQ's -58.19%.

Which ETF is better, BKMC or XMHQ?

On 5-year performance, XMHQ leads with 9.42% vs 8.06% for BKMC. On fees, BKMC is cheaper at 0.04% per year. On volatility, BKMC has been the lower-risk option at 4.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BKMC or XMHQ?

Over the 5-year period, XMHQ has performed better with a 9.42% return vs 8.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BKMC or XMHQ?

BKMC is cheaper with a 0.04% expense ratio, compared with 0.25% for XMHQ.

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

BKMC has the higher dividend yield at 1.38%, compared with 0.55% for XMHQ.

What is the main difference between BKMC and XMHQ?

BKMC is categorized as Mid Cap Growth Equities, while XMHQ is Mid Cap Blend Equities. BKMC tracks Morningstar US Mid Cap Index, while XMHQ tracks S&P MidCap 400 Index. They also come from different issuers: BNY Mellon and Invesco. Their fees differ too: 0.04% for BKMC and 0.25% for XMHQ.

Which has better risk-adjusted returns?

BKMC currently has the higher Sharpe Ratio (1.64 vs 0.99), 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.