MDPL vs. BAI

Last updated Jul 11, 2026

MDPL (Monarch Dividend Plus ETF) and BAI (iShares A.I. Innovation and Tech Active ETF) are both exchange-traded funds - MDPL is a Mid Cap Value Equities fund tracking the Monarch Dividend Plus Index, while BAI is a Technology Equities fund actively managed by iShares. MDPL is passively managed, while BAI is actively managed. Over the past year, MDPL returned 0.34% vs 68.60% for BAI. At a 0.02 correlation, their price movements are largely independent. MDPL charges 1.24%/yr vs 0.55%/yr for BAI.

Performance

MDPL vs. BAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Monarch Dividend Plus ETF (MDPL) and iShares A.I. Innovation and Tech Active ETF (BAI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MDPL achieves a -2.31% return, which is significantly lower than BAI's 43.27% return.

MDPL

• 1D: 0.23%
• 1M: -0.74%
• 6M: -6.22%
• YTD: -2.31%
• 1Y: 0.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BAI

• 1D: -0.71%
• 1M: -2.51%
• 6M: 38.97%
• YTD: 43.27%
• 1Y: 68.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MDPL vs. BAI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MDPL Monarch Dividend Plus ETF	-2.31%	7.57%	-4.22%
BAI iShares A.I. Innovation and Tech Active ETF	43.27%	25.22%	8.89%

Correlation

The correlation between MDPL and BAI is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.10
Correlation (All Time) Calculated using the full available price history since Oct 22, 2024	0.02

The correlation between MDPL and BAI shifts across timeframes, from -0.10 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MDPL vs. BAI — Risk / Return Rank

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

MDPL

MDPL Risk / Return Rank: 9
MDPL Sharpe Ratio Rank: 9
MDPL Sortino Ratio Rank: 8
MDPL Omega Ratio Rank: 8
MDPL Calmar Ratio Rank: 9
MDPL Martin Ratio Rank: 9

BAI

BAI Risk / Return Rank: 68
BAI Sharpe Ratio Rank: 65
BAI Sortino Ratio Rank: 55
BAI Omega Ratio Rank: 59
BAI Calmar Ratio Rank: 89
BAI Martin Ratio Rank: 71

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.

MDPL vs. BAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Monarch Dividend Plus ETF (MDPL) and iShares A.I. Innovation and Tech Active ETF (BAI). 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.

	MDPL	BAI	Difference
Sharpe ratio: Return per unit of total volatility	-0.03	1.72	-1.76
Sortino ratio: Return per unit of downside risk	0.07	2.15	-2.09
Omega ratio: Gain probability vs. loss probability	1.01	1.29	-0.28
Calmar ratio: Return relative to maximum drawdown	-0.04	4.19	-4.23
Martin ratio: Return relative to average drawdown	-0.10	10.34	-10.44

MDPL vs. BAI - Sharpe Ratio Comparison

The current MDPL Sharpe Ratio is -0.03, which is lower than the BAI Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of MDPL and BAI, 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

MDPL vs. BAI - Drawdown Comparison

The maximum MDPL drawdown since its inception was -14.21%, smaller than the maximum BAI drawdown of -34.09%. Use the drawdown chart below to compare losses from any high point for MDPL and BAI.

Drawdown Indicators

	MDPL	BAI	Difference
Max Drawdown Largest peak-to-trough decline	-14.21%	-34.09%	+19.88%
Max Drawdown (1Y) Largest decline over 1 year	-12.38%	-16.22%	+3.84%
Current Drawdown Current decline from peak	-6.80%	-12.02%	+5.22%
Average Drawdown Average peak-to-trough decline	-4.54%	-6.96%	+2.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.51%	6.55%	-1.04%

Volatility

MDPL vs. BAI - Volatility Comparison

The current volatility for Monarch Dividend Plus ETF (MDPL) is 6.12%, while iShares A.I. Innovation and Tech Active ETF (BAI) has a volatility of 20.30%. This indicates that MDPL experiences smaller price fluctuations and is considered to be less risky than BAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MDPL	BAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.12%	20.30%	-14.18%
Volatility (6M) Calculated over the trailing 6-month period	11.95%	34.02%	-22.07%
Volatility (1Y) Calculated over the trailing 1-year period	15.92%	39.38%	-23.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.36%	38.25%	-22.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.36%	38.25%	-22.89%

MDPL vs. BAI - Expense Ratio Comparison

MDPL has a 1.24% expense ratio, which is higher than BAI's 0.55% expense ratio.

Dividends

MDPL vs. BAI - Dividend Comparison

MDPL's dividend yield for the trailing twelve months is around 1.58%, more than BAI's 1.24% yield.

Position	TTM	2025	2024
BAI iShares A.I. Innovation and Tech Active ETF	1.24%	1.80%	0.00%
MDPL Monarch Dividend Plus ETF	1.58%	1.42%	1.02%

Frequently Asked Questions

Can I hold both MDPL and BAI in my portfolio?

MDPL and BAI have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MDPL or BAI?

BAI has higher volatility (20.30%) compared to MDPL (6.12%). In terms of maximum drawdown, MDPL dropped -14.21% vs BAI's -34.09%.

Which ETF is better, MDPL or BAI?

On 1-year performance, BAI leads with 68.60% vs 0.34% for MDPL. On fees, BAI is cheaper at 0.55% per year. On volatility, MDPL has been the lower-risk option at 6.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MDPL or BAI?

Over the 1-year period, BAI has performed better with a 68.60% return vs 0.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MDPL or BAI?

BAI is cheaper with a 0.55% expense ratio, compared with 1.24% for MDPL.

Which ETF pays a higher dividend yield, MDPL or BAI?

MDPL has the higher dividend yield at 1.58%, compared with 1.24% for BAI.

What is the main difference between MDPL and BAI?

MDPL is categorized as Mid Cap Value Equities, while BAI is Technology Equities. They also come from different issuers: Monarch and iShares. Their fees differ too: 1.24% for MDPL and 0.55% for BAI.

Which has better risk-adjusted returns?

BAI currently has the higher Sharpe Ratio (1.72 vs -0.03), 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.