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IWR vs. BKMC
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IWR vs. BKMC

Last updated Aug 2, 2026
Documentation

IWR (iShares Russell Midcap ETF) and BKMC (BNY Mellon US Mid Cap Core Equity ETF) are both exchange-traded funds - IWR is a Mid Cap Blend Equities fund tracking the Russell Midcap 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, IWR returned 8.04%/yr vs 7.66%/yr for BKMC. Their 0.97 correlation means they have historically moved very closely together. IWR charges 0.19%/yr vs 0.04%/yr for BKMC.

Performance

IWR vs. BKMC - Performance Comparison

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

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Returns By Period

In the year-to-date period, IWR achieves a 14.55% return, which is significantly higher than BKMC's 11.65% return.

IWR

1D
-0.28%
1M
-0.59%
6M
11.19%
YTD
14.55%
1Y
20.25%
3Y*
14.75%
5Y*
8.04%
10Y*
11.43%
ALL TIME*
9.95%

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

PositionAvg. 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

IWR

iShares Russell Midcap ETF
$186.41M$266.84M$222.00M

IWR vs. BKMC - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
IWR
iShares Russell Midcap ETF		14.55%10.37%15.21%17.05%-17.48%22.44%49.79%
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 IWR and BKMC is 0.96 - they have historically moved very closely together. At this level, their price movements offset little of one another.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.96

Correlation (3Y)
Balances recent behavior with more history.

0.98

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.98

Correlation (All Time)
Calculated using the full available price history since Apr 9, 2020

0.97

The correlation between IWR and BKMC has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.

IWR vs. BKMC - Sectors Allocation Comparison

Sectors
IWR
BKMC

Technology

18.3%
16.1%

Industrials

17.2%
23.2%

Financial Services

12.6%
12.8%

Healthcare

10.9%
12.3%

Consumer Cyclical

10.2%
10.3%

Real Estate

6.9%
8.3%

Utilities

6.0%
2.3%

Energy

5.8%
3.1%

Consumer Defensive

4.5%
3.8%

Basic Materials

4.2%
4.5%

Communication Services

3.5%
3.3%

Technology

IWR
18.3%
BKMC
16.1%

Industrials

IWR
17.2%
BKMC
23.2%

Financial Services

IWR
12.6%
BKMC
12.8%

Healthcare

IWR
10.9%
BKMC
12.3%

Consumer Cyclical

IWR
10.2%
BKMC
10.3%

Real Estate

IWR
6.9%
BKMC
8.3%

Utilities

IWR
6.0%
BKMC
2.3%

Energy

IWR
5.8%
BKMC
3.1%

Consumer Defensive

IWR
4.5%
BKMC
3.8%

Basic Materials

IWR
4.2%
BKMC
4.5%

Communication Services

IWR
3.5%
BKMC
3.3%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Russell Midcap ETF

BNY Mellon US Mid Cap Core Equity ETF

Often compared with IWR:
IWR vs. VOIWR vs. IWDIWR vs. SPMDIWR vs. IWNIWR vs. SCHMIWR vs. VXFIWR vs. REGL
Often compared with BKMC:
BKMC vs. IMCBBKMC vs. BSMIXBKMC vs. BKLCBKMC vs. VOBKMC vs. VBKBKMC vs. IJHBKMC vs. QMOM

Return for Risk

IWR vs. BKMC — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
IWR
IWR Risk / Return Rank: 6262
Overall Rank
IWR Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
IWR Sortino Ratio Rank: 5959
Sortino Ratio Rank
IWR Omega Ratio Rank: 5555
Omega Ratio Rank
IWR Calmar Ratio Rank: 6666
Calmar Ratio Rank
IWR Martin Ratio Rank: 7272
Martin Ratio Rank
BKMC
BKMC Risk / Return Rank: 4949
Overall Rank
BKMC Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
BKMC Sortino Ratio Rank: 4848
Sortino Ratio Rank
BKMC Omega Ratio Rank: 4444
Omega Ratio Rank
BKMC Calmar Ratio Rank: 5050
Calmar Ratio Rank
BKMC Martin Ratio Rank: 5757
Martin Ratio Rank
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.

IWR vs. BKMC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell Midcap ETF (IWR) 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.

IWRBKMCDifference
Sharpe ratioReturn per unit of total volatility
1.37
1.15

+0.21

Sortino ratioReturn per unit of downside risk
2.00
1.74

+0.26

Omega ratioGain probability vs. loss probability

1.24

1.21

+0.04

Calmar ratioReturn relative to maximum drawdown

2.28

1.80

+0.48

Martin ratioReturn relative to average drawdown

8.85

6.81

+2.05

IWR vs. BKMC - Sharpe Ratio Comparison

The current IWR Sharpe Ratio is 1.37, which is comparable to the BKMC Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of IWR 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.

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Drawdowns

IWR vs. BKMC - Drawdown Comparison

The maximum IWR drawdown since its inception was -58.78%, which is greater than BKMC's maximum drawdown of -25.02%. Use the drawdown chart below to compare losses from any high point for IWR and BKMC.

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Drawdown Indicators

IWRBKMCDifference

Max Drawdown

Largest peak-to-trough decline

-58.78%

-25.02%

-33.76%

Max Drawdown (1Y)

Largest decline over 1 year

-8.17%

-9.82%

+1.65%

Max Drawdown (3Y)

Largest decline over 3 years

-21.09%

-23.68%

+2.59%

Max Drawdown (5Y)

Largest decline over 5 years

-26.18%

-25.02%

-1.16%

Max Drawdown (10Y)

Largest decline over 10 years

-40.59%

—

—

Current Drawdown

Current decline from peak

-0.93%

-2.30%

+1.37%

Average Drawdown

Average peak-to-trough decline

-7.76%

-6.42%

-1.34%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.10%

2.59%

-0.49%

Volatility

IWR vs. BKMC - Volatility Comparison

The current volatility for iShares Russell Midcap ETF (IWR) is 2.48%, while BNY Mellon US Mid Cap Core Equity ETF (BKMC) has a volatility of 3.36%. This indicates that IWR experiences smaller price fluctuations and is considered to be less risky 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

IWRBKMCDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.48%

3.36%

-0.88%

Volatility (6M)

Calculated over the trailing 6-month period

10.17%

11.16%

-0.99%

Volatility (1Y)

Calculated over the trailing 1-year period

13.67%

15.38%

-1.71%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.22%

18.80%

-0.58%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.31%

19.04%

+0.27%

IWR vs. BKMC - Expense Ratio Comparison

IWR has a 0.19% 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

IWR vs. BKMC - Dividend Comparison

IWR's dividend yield for the trailing twelve months is around 1.16%, less than BKMC's 1.42% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
IWR
iShares Russell Midcap ETF		1.16%1.29%1.27%1.43%1.59%1.04%1.28%1.43%1.98%1.52%1.72%1.59%

Frequently Asked Questions

With a correlation of 0.96, IWR 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.

BKMC has higher volatility (3.36%) compared to IWR (2.48%). In terms of maximum drawdown, IWR dropped -58.78% vs BKMC's -25.02%.

On 5-year performance, IWR leads with 8.04% vs 7.66% for BKMC. On fees, BKMC is cheaper at 0.04% per year. On volatility, IWR has been the lower-risk option at 2.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, IWR has performed better with a 8.04% return vs 7.66%. 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 0.19% for IWR.

BKMC has the higher dividend yield at 1.42%, compared with 1.16% for IWR.

IWR is categorized as Mid Cap Blend Equities, while BKMC is Mid Cap Growth Equities. IWR tracks Russell Midcap Index, while BKMC tracks Morningstar US Mid Cap Index. They also come from different issuers: iShares and BNY Mellon. Their fees differ too: 0.19% for IWR and 0.04% for BKMC.

IWR currently has the higher Sharpe Ratio (1.36 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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