IMCB vs. BKMC

Last updated Jun 23, 2026

IMCB (iShares Morningstar Mid-Cap ETF) and BKMC (BNY Mellon US Mid Cap Core Equity ETF) are both exchange-traded funds - IMCB is a Mid Cap Blend Equities fund tracking the IMCB-US - Morningstar U.S. Mid Cap Index, while BKMC is a Mid Cap Growth Equities fund tracking the Morningstar US Mid Cap Index. Both are passively managed. Over the past 5 years, IMCB returned 9.17%/yr vs 8.14%/yr for BKMC. With a 0.97 correlation, they move nearly in lockstep. Both charge a 0.04% expense ratio.

Performance

IMCB vs. BKMC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Morningstar Mid-Cap ETF (IMCB) 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, IMCB achieves a 16.18% return, which is significantly higher than BKMC's 12.30% return.

IMCB

• 1D: 0.42%
• 1M: 4.03%
• YTD: 16.18%
• 6M: 14.62%
• 1Y: 25.14%
• 3Y*: 17.89%
• 5Y*: 9.17%
• 10Y*: 11.77%

BKMC

• 1D: 0.19%
• 1M: 2.66%
• YTD: 12.30%
• 6M: 9.62%
• 1Y: 24.11%
• 3Y*: 15.97%
• 5Y*: 8.14%
• 10Y*: —

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

IMCB vs. BKMC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
IMCB iShares Morningstar Mid-Cap ETF	16.18%	10.25%	15.10%	16.37%	-16.09%	22.81%	43.61%
BKMC BNY Mellon US Mid Cap Core Equity ETF	12.30%	8.74%	13.78%	17.50%	-16.03%	23.83%	46.18%

Correlation

The correlation between IMCB and BKMC is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (All Time) Calculated using the full available price history since Apr 9, 2020	0.97

The correlation between IMCB and BKMC has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.

IMCB vs. BKMC - Sectors Allocation Comparison

Sectors	IMCB	BKMC
Technology	22.6%	16.6%
Industrials	18.5%	22.7%
Financial Services	11.9%	12.7%
Consumer Cyclical	9.1%	10.2%
Healthcare	7.9%	11.7%
Energy	6.7%	3.3%
Utilities	6.0%	2.4%
Basic Materials	5.3%	4.9%
Consumer Defensive	5.1%	3.7%
Real Estate	4.3%	8.2%
Communication Services	2.5%	3.6%

Return for Risk

IMCB vs. BKMC — Risk / Return Rank

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

IMCB

IMCB Risk / Return Rank: 61
IMCB Sharpe Ratio Rank: 59
IMCB Sortino Ratio Rank: 58
IMCB Omega Ratio Rank: 54
IMCB Calmar Ratio Rank: 65
IMCB Martin Ratio Rank: 68

BKMC

BKMC Risk / Return Rank: 49
BKMC Sharpe Ratio Rank: 47
BKMC Sortino Ratio Rank: 48
BKMC Omega Ratio Rank: 43
BKMC Calmar Ratio Rank: 51
BKMC Martin Ratio Rank: 55

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.

IMCB vs. BKMC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Mid-Cap ETF (IMCB) 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.

	IMCB	BKMC	Difference
Sharpe ratio: Return per unit of total volatility	1.90	1.57	+0.33
Sortino ratio: Return per unit of downside risk	2.66	2.29	+0.37
Omega ratio: Gain probability vs. loss probability	1.33	1.27	+0.06
Calmar ratio: Return relative to maximum drawdown	3.14	2.47	+0.67
Martin ratio: Return relative to average drawdown	12.28	9.45	+2.83

IMCB vs. BKMC - Sharpe Ratio Comparison

The current IMCB Sharpe Ratio is 1.90, which is comparable to the BKMC Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of IMCB 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

IMCB vs. BKMC - Drawdown Comparison

The maximum IMCB drawdown since its inception was -58.80%, which is greater than BKMC's maximum drawdown of -25.02%. Use the drawdown chart below to compare losses from any high point for IMCB and BKMC.

Drawdown Indicators

	IMCB	BKMC	Difference
Max Drawdown Largest peak-to-trough decline	-58.80%	-25.02%	-33.78%
Max Drawdown (1Y) Largest decline over 1 year	-8.05%	-9.82%	+1.77%
Max Drawdown (3Y) Largest decline over 3 years	-19.80%	-23.68%	+3.88%
Max Drawdown (5Y) Largest decline over 5 years	-25.15%	-25.02%	-0.13%
Max Drawdown (10Y) Largest decline over 10 years	-40.99%	—	—
Current Drawdown Current decline from peak	-0.32%	-0.44%	+0.12%
Average Drawdown Average peak-to-trough decline	-7.72%	-6.50%	-1.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.05%	2.56%	-0.51%

Volatility

IMCB vs. BKMC - Volatility Comparison

iShares Morningstar Mid-Cap ETF (IMCB) and BNY Mellon US Mid Cap Core Equity ETF (BKMC) have volatilities of 4.70% and 4.55%, 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

	IMCB	BKMC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.70%	4.55%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	10.25%	11.42%	-1.17%
Volatility (1Y) Calculated over the trailing 1-year period	13.32%	15.47%	-2.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.64%	18.84%	-1.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.69%	19.15%	+0.54%

IMCB vs. BKMC - Expense Ratio Comparison

Both IMCB and BKMC have an expense ratio of 0.04%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

IMCB vs. BKMC - Dividend Comparison

IMCB's dividend yield for the trailing twelve months is around 1.23%, less than BKMC's 1.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BKMC BNY Mellon US Mid Cap Core Equity ETF	1.37%	1.35%	1.54%	1.38%	1.63%	1.15%	0.86%	0.00%	0.00%	0.00%	0.00%	0.00%
IMCB iShares Morningstar Mid-Cap ETF	1.23%	1.42%	1.43%	1.55%	1.70%	1.08%	1.12%	1.32%	1.80%	1.31%	1.79%	1.47%

Frequently Asked Questions

Can I hold both IMCB and BKMC in my portfolio?

With a correlation of 0.95, IMCB and BKMC 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, IMCB or BKMC?

IMCB has higher volatility (4.70%) compared to BKMC (4.55%). In terms of maximum drawdown, IMCB dropped -58.80% vs BKMC's -25.02%.

Which ETF is better, IMCB or BKMC?

On 5-year performance, IMCB leads with 9.17% vs 8.14% for BKMC. Both ETFs have the same 0.04% expense ratio. On volatility, BKMC has been the lower-risk option at 4.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IMCB or BKMC?

Over the 5-year period, IMCB has performed better with a 9.17% return vs 8.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IMCB or BKMC?

IMCB and BKMC have the same expense ratio: 0.04% per year.

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

BKMC has the higher dividend yield at 1.37%, compared with 1.23% for IMCB.

What is the main difference between IMCB and BKMC?

IMCB is categorized as Mid Cap Blend Equities, while BKMC is Mid Cap Growth Equities. IMCB tracks IMCB-US - Morningstar U.S. Mid Cap Index, while BKMC tracks Morningstar US Mid Cap Index. They also come from different issuers: iShares and BNY Mellon.

Which has better risk-adjusted returns?

IMCB currently has the higher Sharpe Ratio (1.90 vs 1.57), 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.