BOUT vs. BKMC

Last updated Aug 1, 2026

BOUT (Innovator IBD Breakout Opportunities ETF) and BKMC (BNY Mellon US Mid Cap Core Equity ETF) are both Mid Cap Growth Equities funds - BOUT tracks the IBD Breakout Stocks Total Return Index while BKMC tracks the Morningstar US Mid Cap Index. Both are passively managed. Over the past 5 years, BOUT returned 7.04%/yr vs 7.66%/yr for BKMC. Their 0.75 correlation means they have sometimes moved together and sometimes differently. BOUT charges 0.80%/yr vs 0.04%/yr for BKMC.

Performance

BOUT vs. BKMC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator IBD Breakout Opportunities ETF (BOUT) and BNY Mellon US Mid Cap Core Equity ETF (BKMC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BOUT achieves a 27.36% return, which is significantly higher than BKMC's 11.65% return.

BOUT

• 1D: 0.00%
• 1M: -1.72%
• 6M: 19.69%
• YTD: 27.36%
• 1Y: 26.50%
• 3Y*: 12.18%
• 5Y*: 7.04%
• 10Y*: —
• ALL TIME*: 8.61%

BKMC

• 1D: -0.11%
• 1M: -1.34%
• 6M: 6.36%
• YTD: 11.65%
• 1Y: 19.28%
• 3Y*: 13.19%
• 5Y*: 7.66%
• 10Y*: —
• ALL TIME*: 15.39%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BKMC BNY Mellon US Mid Cap Core Equity ETF	$1.12M	$1.07M	$1.01M
BOUT Innovator IBD Breakout Opportunities ETF	$64.60K	$107.52K	$108.59K

BOUT vs. BKMC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BOUT Innovator IBD Breakout Opportunities ETF	27.36%	-6.77%	18.82%	13.27%	-22.60%	22.69%	68.21%
BKMC BNY Mellon US Mid Cap Core Equity ETF	11.65%	8.74%	13.78%	17.50%	-16.03%	23.83%	46.18%

Correlation

The correlation between BOUT and BKMC is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.76
Correlation (3Y) Balances recent behavior with more history.	0.79
Correlation (5Y) Shows whether the relationship held over a longer period.	0.79
Correlation (All Time) Calculated using the full available price history since Apr 9, 2020	0.75

The correlation between BOUT and BKMC has been stable across timeframes, ranging from 0.75 to 0.79 - a consistent structural relationship.

BOUT vs. BKMC - Sectors Allocation Comparison

Sectors	BOUT	BKMC
Financial Services	37.6%	12.8%
Technology	26.9%	16.1%
Consumer Cyclical	8.7%	10.3%
Basic Materials	8.1%	4.5%
Healthcare	7.8%	12.3%
Utilities	7.0%	2.3%
Industrials	5.4%	23.2%
Real Estate	4.3%	8.3%
Communication Services	3.3%	3.3%
Consumer Defensive	0.9%	3.8%
Energy	0.4%	3.1%

Return for Risk

BOUT vs. BKMC — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BOUT

BOUT Risk / Return Rank: 46
BOUT Sharpe Ratio Rank: 43
BOUT Sortino Ratio Rank: 42
BOUT Omega Ratio Rank: 40
BOUT Calmar Ratio Rank: 58
BOUT Martin Ratio Rank: 50

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: 57

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BOUT vs. BKMC - Risk-Adjusted Trends Comparison

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

	BOUT	BKMC	Difference
Sharpe ratio: Return per unit of total volatility	1.06	1.15	-0.09
Sortino ratio: Return per unit of downside risk	1.55	1.74	-0.19
Omega ratio: Gain probability vs. loss probability	1.19	1.21	-0.02
Calmar ratio: Return relative to maximum drawdown	2.05	1.80	+0.24
Martin ratio: Return relative to average drawdown	5.74	6.81	-1.07

BOUT vs. BKMC - Sharpe Ratio Comparison

The current BOUT Sharpe Ratio is 1.06, which is comparable to the BKMC Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of BOUT and BKMC, 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

BOUT vs. BKMC - Drawdown Comparison

The maximum BOUT drawdown since its inception was -36.98%, which is greater than BKMC's maximum drawdown of -25.02%. Use the drawdown chart below to compare losses from any high point for BOUT and BKMC.

Drawdown Indicators

	BOUT	BKMC	Difference
Max Drawdown Largest peak-to-trough decline	-36.98%	-25.02%	-11.96%
Max Drawdown (1Y) Largest decline over 1 year	-11.76%	-9.82%	-1.94%
Max Drawdown (3Y) Largest decline over 3 years	-25.31%	-23.68%	-1.63%
Max Drawdown (5Y) Largest decline over 5 years	-28.28%	-25.02%	-3.26%
Current Drawdown Current decline from peak	-5.50%	-2.30%	-3.20%
Average Drawdown Average peak-to-trough decline	-12.18%	-6.42%	-5.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.19%	2.59%	+1.60%

Volatility

BOUT vs. BKMC - Volatility Comparison

Innovator IBD Breakout Opportunities ETF (BOUT) has a higher volatility of 5.34% compared to BNY Mellon US Mid Cap Core Equity ETF (BKMC) at 3.36%. This indicates that BOUT's price experiences larger fluctuations and is considered to be riskier than BKMC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BOUT	BKMC	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.34%	3.36%	+1.98%
Volatility (6M) Calculated over the trailing 6-month period	17.67%	11.16%	+6.51%
Volatility (1Y) Calculated over the trailing 1-year period	22.61%	15.38%	+7.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.79%	18.80%	+0.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.97%	19.04%	+3.93%

BOUT vs. BKMC - Expense Ratio Comparison

BOUT has a 0.80% expense ratio, which is higher than BKMC's 0.04% expense ratio.

Dividends

BOUT vs. BKMC - Dividend Comparison

BOUT's dividend yield for the trailing twelve months is around 0.27%, less than BKMC's 1.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BKMC BNY Mellon US Mid Cap Core Equity ETF	1.42%	1.35%	1.54%	1.38%	1.63%	1.15%	0.86%	0.00%	0.00%
BOUT Innovator IBD Breakout Opportunities ETF	0.27%	0.34%	0.60%	1.32%	1.35%	0.00%	0.00%	0.00%	0.22%

Frequently Asked Questions

Can I hold both BOUT and BKMC in my portfolio?

BOUT and BKMC have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BOUT or BKMC?

BOUT has higher volatility (5.34%) compared to BKMC (3.36%). In terms of maximum drawdown, BOUT dropped -36.98% vs BKMC's -25.02%.

Which ETF is better, BOUT or BKMC?

On 5-year performance, BKMC leads with 7.66% vs 7.04% for BOUT. On fees, BKMC is cheaper at 0.04% per year. On volatility, BKMC has been the lower-risk option at 3.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BOUT or BKMC?

Over the 5-year period, BKMC has performed better with a 7.66% return vs 7.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BOUT or BKMC?

BKMC is cheaper with a 0.04% expense ratio, compared with 0.80% for BOUT.

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

BKMC has the higher dividend yield at 1.42%, compared with 0.27% for BOUT.

What is the main difference between BOUT and BKMC?

BOUT tracks IBD Breakout Stocks Total Return Index, while BKMC tracks Morningstar US Mid Cap Index. They also come from different issuers: Innovator and BNY Mellon. Their fees differ too: 0.80% for BOUT and 0.04% for BKMC.

Which has better risk-adjusted returns?

BKMC currently has the higher Sharpe Ratio (1.15 vs 1.06), 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.