IVOG vs. BKMC
IVOG (Vanguard S&P Mid-Cap 400 Growth ETF) and BKMC (BNY Mellon US Mid Cap Core Equity ETF) are both Mid Cap Growth Equities funds - IVOG tracks the S&P MidCap 400 Growth Index while BKMC tracks the Morningstar US Mid Cap Index. Both are passively managed. Over the past 5 years, IVOG returned 8.21%/yr vs 8.00%/yr for BKMC. With a 0.95 correlation, they move nearly in lockstep. IVOG charges 0.10%/yr vs 0.04%/yr for BKMC.
Performance
IVOG vs. BKMC - Performance Comparison
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Returns By Period
In the year-to-date period, IVOG achieves a 16.96% return, which is significantly higher than BKMC's 11.42% return.
IVOG
- 1D
- -1.05%
- 1M
- -1.65%
- 6M
- 11.10%
- YTD
- 16.96%
- 1Y
- 23.29%
- 3Y*
- 14.86%
- 5Y*
- 8.21%
- 10Y*
- 11.06%
BKMC
- 1D
- -0.73%
- 1M
- -0.72%
- 6M
- 5.38%
- YTD
- 11.42%
- 1Y
- 17.66%
- 3Y*
- 13.51%
- 5Y*
- 8.00%
- 10Y*
- —
IVOG vs. BKMC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IVOG Vanguard S&P Mid-Cap 400 Growth ETF | 16.96% | 7.34% | 15.62% | 17.36% | -19.08% | 18.85% | 53.72% |
BKMC BNY Mellon US Mid Cap Core Equity ETF | 11.42% | 8.74% | 13.78% | 17.50% | -16.03% | 23.83% | 46.18% |
Correlation
The correlation between IVOG and BKMC is 0.94, 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 | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Apr 9, 2020 | 0.95 |
The correlation between IVOG and BKMC has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.
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Return for Risk
IVOG vs. BKMC — Risk / Return Rank
IVOG
BKMC
IVOG vs. BKMC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Mid-Cap 400 Growth ETF (IVOG) 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.
| IVOG | BKMC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.20 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.41 | 1.81 | +0.61 |
| Martin ratioReturn relative to average drawdown | 9.23 | 6.88 | +2.35 |
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Drawdowns
IVOG vs. BKMC - Drawdown Comparison
The maximum IVOG drawdown since its inception was -39.32%, which is greater than BKMC's maximum drawdown of -25.02%. Use the drawdown chart below to compare losses from any high point for IVOG and BKMC.
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Drawdown Indicators
| IVOG | BKMC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.32% | -25.02% | -14.30% |
Max Drawdown (1Y)Largest decline over 1 year | -9.69% | -9.82% | +0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -25.61% | -23.68% | -1.93% |
Max Drawdown (5Y)Largest decline over 5 years | -29.31% | -25.02% | -4.29% |
Max Drawdown (10Y)Largest decline over 10 years | -39.32% | — | — |
Current DrawdownCurrent decline from peak | -3.90% | -2.50% | -1.40% |
Average DrawdownAverage peak-to-trough decline | -5.85% | -6.45% | +0.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.53% | 2.57% | -0.04% |
Volatility
IVOG vs. BKMC - Volatility Comparison
Vanguard S&P Mid-Cap 400 Growth ETF (IVOG) has a higher volatility of 5.56% compared to BNY Mellon US Mid Cap Core Equity ETF (BKMC) at 4.06%. This indicates that IVOG'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.
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Volatility by Period
| IVOG | BKMC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.56% | 4.06% | +1.50% |
Volatility (6M)Calculated over the trailing 6-month period | 13.92% | 11.26% | +2.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.90% | 15.44% | +2.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.72% | 18.83% | +1.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.59% | 19.10% | +1.49% |
IVOG vs. BKMC - Expense Ratio Comparison
IVOG has a 0.10% expense ratio, which is higher than BKMC's 0.04% 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
IVOG vs. BKMC - Dividend Comparison
IVOG's dividend yield for the trailing twelve months is around 0.55%, less than BKMC's 1.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% |
IVOG Vanguard S&P Mid-Cap 400 Growth ETF | 0.55% | 0.64% | 0.79% | 1.15% | 1.05% | 0.47% | 0.74% | 1.17% | 1.01% | 0.93% | 1.11% | 1.04% |
Frequently Asked Questions
With a correlation of 0.94, IVOG 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.
IVOG has higher volatility (5.56%) compared to BKMC (4.06%). In terms of maximum drawdown, IVOG dropped -39.32% vs BKMC's -25.02%.
On 5-year performance, IVOG leads with 8.21% vs 8.00% for BKMC. On fees, BKMC is cheaper at 0.04% per year. On volatility, BKMC has been the lower-risk option at 4.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IVOG has performed better with a 8.21% return vs 8.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BKMC is cheaper with a 0.04% expense ratio, compared with 0.10% for IVOG.
BKMC has the higher dividend yield at 1.42%, compared with 0.55% for IVOG.
IVOG tracks S&P MidCap 400 Growth Index, while BKMC tracks Morningstar US Mid Cap Index. They also come from different issuers: Vanguard and BNY Mellon. Their fees differ too: 0.10% for IVOG and 0.04% for BKMC.
IVOG currently has the higher Sharpe Ratio (1.31 vs 1.15), 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.
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