MKTN vs. BFIX

Last updated Jun 4, 2026

MKTN (Federated Hermes MDT Market Neutral ETF) and BFIX (Build Bond Innovation ETF) are both exchange-traded funds - MKTN is a Long-Short fund actively managed by Federated Hermes, while BFIX is a Intermediate Core Bond fund actively managed by Build. Both are actively managed. At a correlation of -0.15, they often move in opposite directions.

Performance

MKTN vs. BFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes MDT Market Neutral ETF (MKTN) and Build Bond Innovation ETF (BFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with MKTN at 1.27% and BFIX at 1.27%.

MKTN

• 1D: 0.12%
• 1M: 1.01%
• YTD: 1.27%
• 6M: 4.04%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BFIX

• 1D: -0.08%
• 1M: 0.15%
• YTD: 1.27%
• 6M: 1.32%
• 1Y: 4.80%
• 3Y*: 7.75%
• 5Y*: —
• 10Y*: —

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

MKTN vs. BFIX - Yearly Performance Comparison

	2026 (YTD)	2025
MKTN Federated Hermes MDT Market Neutral ETF	1.27%	3.53%
BFIX Build Bond Innovation ETF	1.27%	1.25%

Correlation

The correlation between MKTN and BFIX is -0.15, 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 (All Time) Calculated using the full available price history since Sep 26, 2025	-0.15

Return for Risk

MKTN vs. BFIX — Risk / Return Rank

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

BFIX

BFIX Risk / Return Rank: 61
BFIX Sharpe Ratio Rank: 48
BFIX Sortino Ratio Rank: 53
BFIX Omega Ratio Rank: 51
BFIX Calmar Ratio Rank: 88
BFIX Martin Ratio Rank: 67

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.

MKTN vs. BFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes MDT Market Neutral ETF (MKTN) and Build Bond Innovation ETF (BFIX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	MKTN	BFIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.67	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.06	0.85	+0.21

Drawdowns

MKTN vs. BFIX - Drawdown Comparison

The maximum MKTN drawdown since its inception was -4.13%, smaller than the maximum BFIX drawdown of -8.03%. Use the drawdown chart below to compare losses from any high point for MKTN and BFIX.

Drawdown Indicators

	MKTN	BFIX	Difference
Max Drawdown Largest peak-to-trough decline	-4.13%	-8.03%	+3.90%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.94%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-4.05%	—
Current Drawdown Current decline from peak	-0.65%	-0.40%	-0.25%
Average Drawdown Average peak-to-trough decline	-1.13%	-2.76%	+1.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.39%	—

Volatility

Volatility by Period

	MKTN	BFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.89%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.73%	—
Volatility (1Y) Calculated over the trailing 1-year period	6.81%	2.90%	+3.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.81%	4.77%	+2.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.81%	4.77%	+2.04%

Dividends

MKTN vs. BFIX - Dividend Comparison

MKTN's dividend yield for the trailing twelve months is around 0.50%, less than BFIX's 3.52% yield.

Position	TTM	2025	2024	2023	2022
BFIX Build Bond Innovation ETF	3.52%	3.73%	4.38%	4.30%	1.58%
MKTN Federated Hermes MDT Market Neutral ETF	0.50%	0.51%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MKTN and BFIX in my portfolio?

MKTN and BFIX have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF pays a higher dividend yield, MKTN or BFIX?

BFIX has the higher dividend yield at 3.52%, compared with 0.50% for MKTN.

What is the main difference between MKTN and BFIX?

MKTN is categorized as Long-Short, while BFIX is Intermediate Core Bond. They also come from different issuers: Federated Hermes and Build.