MFDX vs. BKIE

Last updated Jun 4, 2026

MFDX (PIMCO RAFI Dynamic Multi-Factor International Equity ETF) and BKIE (BNY Mellon International Equity ETF) are both Foreign Large Cap Equities funds - MFDX tracks the RAFI Dynamic Multi-Factor Developed Ex-U.S. Index while BKIE tracks the Morningstar Developed Markets ex-US Large Cap Index. Both are passively managed. Over the past 5 years, MFDX returned 9.92%/yr vs 9.05%/yr for BKIE. With a 0.97 correlation, they move nearly in lockstep. MFDX charges 0.39%/yr vs 0.04%/yr for BKIE.

Performance

MFDX vs. BKIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO RAFI Dynamic Multi-Factor International Equity ETF (MFDX) and BNY Mellon International Equity ETF (BKIE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MFDX achieves a 9.73% return, which is significantly higher than BKIE's 8.46% return.

MFDX

• 1D: -0.55%
• 1M: 2.31%
• YTD: 9.73%
• 6M: 12.33%
• 1Y: 23.13%
• 3Y*: 18.62%
• 5Y*: 9.92%
• 10Y*: —

BKIE

• 1D: -0.89%
• 1M: 3.12%
• YTD: 8.46%
• 6M: 11.11%
• 1Y: 22.58%
• 3Y*: 17.39%
• 5Y*: 9.05%
• 10Y*: —

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

MFDX vs. BKIE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF	9.73%	34.27%	4.40%	17.54%	-10.27%	11.07%	35.35%
BKIE BNY Mellon International Equity ETF	8.46%	32.08%	4.63%	18.25%	-13.60%	13.75%	34.17%

Correlation

The correlation between MFDX and BKIE 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	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Apr 27, 2020	0.97

The correlation between MFDX and BKIE has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

MFDX vs. BKIE - Sectors Allocation Comparison

Sectors	MFDX	BKIE
Industrials	19.9%	18.6%
Financial Services	16.4%	25.8%
Basic Materials	10.8%	7.2%
Consumer Cyclical	8.6%	7.3%
Consumer Defensive	8.0%	6.2%
Technology	7.1%	10.1%
Communication Services	7.0%	4.2%
Energy	6.8%	5.9%
Utilities	6.4%	3.7%
Healthcare	6.0%	9.1%
Real Estate	3.0%	2.0%

Return for Risk

MFDX vs. BKIE — Risk / Return Rank

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

MFDX

MFDX Risk / Return Rank: 48
MFDX Sharpe Ratio Rank: 48
MFDX Sortino Ratio Rank: 48
MFDX Omega Ratio Rank: 48
MFDX Calmar Ratio Rank: 44
MFDX Martin Ratio Rank: 51

BKIE

BKIE Risk / Return Rank: 43
BKIE Sharpe Ratio Rank: 43
BKIE Sortino Ratio Rank: 43
BKIE Omega Ratio Rank: 43
BKIE Calmar Ratio Rank: 39
BKIE Martin Ratio Rank: 46

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.

MFDX vs. BKIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO RAFI Dynamic Multi-Factor International Equity ETF (MFDX) and BNY Mellon International Equity ETF (BKIE). 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.

	MFDX	BKIE	Difference
Sharpe ratio: Return per unit of total volatility	1.70	1.56	+0.14
Sortino ratio: Return per unit of downside risk	2.38	2.23	+0.15
Omega ratio: Gain probability vs. loss probability	1.31	1.28	+0.03
Calmar ratio: Return relative to maximum drawdown	2.18	1.99	+0.19
Martin ratio: Return relative to average drawdown	8.66	7.68	+0.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MFDX vs. BKIE - Sharpe Ratio Comparison

The current MFDX Sharpe Ratio is 1.70, which is comparable to the BKIE Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of MFDX and BKIE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MFDX	BKIE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.70	1.56	+0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	0.56	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.92	-0.37

Drawdowns

MFDX vs. BKIE - Drawdown Comparison

The maximum MFDX drawdown since its inception was -36.05%, which is greater than BKIE's maximum drawdown of -28.19%. Use the drawdown chart below to compare losses from any high point for MFDX and BKIE.

Drawdown Indicators

	MFDX	BKIE	Difference
Max Drawdown Largest peak-to-trough decline	-36.05%	-28.19%	-7.86%
Max Drawdown (1Y) Largest decline over 1 year	-10.66%	-11.41%	+0.75%
Max Drawdown (3Y) Largest decline over 3 years	-11.62%	-13.19%	+1.57%
Max Drawdown (5Y) Largest decline over 5 years	-25.58%	-28.19%	+2.61%
Current Drawdown Current decline from peak	-1.84%	-1.33%	-0.51%
Average Drawdown Average peak-to-trough decline	-6.50%	-4.98%	-1.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.68%	2.95%	-0.27%

Volatility

MFDX vs. BKIE - Volatility Comparison

PIMCO RAFI Dynamic Multi-Factor International Equity ETF (MFDX) and BNY Mellon International Equity ETF (BKIE) have volatilities of 4.45% and 4.42%, 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

	MFDX	BKIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.45%	4.42%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	11.34%	12.17%	-0.83%
Volatility (1Y) Calculated over the trailing 1-year period	13.73%	14.58%	-0.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.03%	16.12%	-1.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.41%	16.34%	+0.07%

MFDX vs. BKIE - Expense Ratio Comparison

MFDX has a 0.39% expense ratio, which is higher than BKIE's 0.04% expense ratio.

Dividends

MFDX vs. BKIE - Dividend Comparison

MFDX's dividend yield for the trailing twelve months is around 2.79%, less than BKIE's 3.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BKIE BNY Mellon International Equity ETF	3.26%	3.12%	3.31%	2.88%	2.97%	2.58%	1.49%	0.00%	0.00%	0.00%
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF	2.79%	2.97%	3.16%	3.12%	2.85%	2.99%	1.58%	2.88%	2.13%	0.71%

Frequently Asked Questions

Can I hold both MFDX and BKIE in my portfolio?

With a correlation of 0.94, MFDX and BKIE 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, MFDX or BKIE?

MFDX has higher volatility (4.45%) compared to BKIE (4.42%). In terms of maximum drawdown, MFDX dropped -36.05% vs BKIE's -28.19%.

Which ETF is better, MFDX or BKIE?

On 5-year performance, MFDX leads with 9.92% vs 9.05% for BKIE. On fees, BKIE is cheaper at 0.04% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MFDX or BKIE?

Over the 5-year period, MFDX has performed better with a 9.92% return vs 9.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MFDX or BKIE?

BKIE is cheaper with a 0.04% expense ratio, compared with 0.39% for MFDX.

Which ETF pays a higher dividend yield, MFDX or BKIE?

BKIE has the higher dividend yield at 3.26%, compared with 2.79% for MFDX.

What is the main difference between MFDX and BKIE?

MFDX tracks RAFI Dynamic Multi-Factor Developed Ex-U.S. Index, while BKIE tracks Morningstar Developed Markets ex-US Large Cap Index. They also come from different issuers: PIMCO and BNY Mellon. Their fees differ too: 0.39% for MFDX and 0.04% for BKIE.

Which has better risk-adjusted returns?

MFDX currently has the higher Sharpe Ratio (1.70 vs 1.56), 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.