TMDIX vs. BKLC

Last updated Jun 10, 2026

TMDIX (AMG TimesSquare Mid Cap Growth Fund) and BKLC (BNY Mellon US Large Cap Core Equity ETF) are both funds - TMDIX is a Mid Cap Growth Equities fund managed by AMG, while BKLC is a Large Cap Blend Equities fund tracking the Morningstar US Large Cap Index. Over the past 5 years, TMDIX returned 3.90%/yr vs 13.70%/yr for BKLC. Their correlation of 0.86 suggests significant overlap in exposure. TMDIX charges 0.98%/yr vs 0.00%/yr for BKLC.

Performance

TMDIX vs. BKLC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AMG TimesSquare Mid Cap Growth Fund (TMDIX) and BNY Mellon US Large Cap Core Equity ETF (BKLC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TMDIX achieves a 2.38% return, which is significantly lower than BKLC's 8.41% return.

TMDIX

• 1D: 0.53%
• 1M: 2.63%
• YTD: 2.38%
• 6M: -9.34%
• 1Y: -5.55%
• 3Y*: 8.18%
• 5Y*: 3.90%
• 10Y*: 12.84%

BKLC

• 1D: -0.32%
• 1M: 0.16%
• YTD: 8.41%
• 6M: 8.51%
• 1Y: 24.40%
• 3Y*: 22.22%
• 5Y*: 13.70%
• 10Y*: —

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

TMDIX vs. BKLC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
TMDIX AMG TimesSquare Mid Cap Growth Fund	2.38%	-1.76%	10.84%	25.07%	-22.26%	16.75%	55.09%
BKLC BNY Mellon US Large Cap Core Equity ETF	8.41%	18.06%	25.56%	30.88%	-20.52%	27.41%	37.31%

Correlation

The correlation between TMDIX and BKLC is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (All Time) Calculated using the full available price history since Apr 9, 2020	0.86

The correlation between TMDIX and BKLC has been stable across timeframes, ranging from 0.80 to 0.87 - a consistent structural relationship.

Return for Risk

TMDIX vs. BKLC — Risk / Return Rank

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

TMDIX

TMDIX Risk / Return Rank: 2
TMDIX Sharpe Ratio Rank: 2
TMDIX Sortino Ratio Rank: 2
TMDIX Omega Ratio Rank: 2
TMDIX Calmar Ratio Rank: 2
TMDIX Martin Ratio Rank: 2

BKLC

BKLC Risk / Return Rank: 67
BKLC Sharpe Ratio Rank: 68
BKLC Sortino Ratio Rank: 65
BKLC Omega Ratio Rank: 69
BKLC Calmar Ratio Rank: 61
BKLC Martin Ratio Rank: 73

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.

TMDIX vs. BKLC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AMG TimesSquare Mid Cap Growth Fund (TMDIX) and BNY Mellon US Large Cap Core Equity ETF (BKLC). 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.

	TMDIX	BKLC	Difference
Sharpe ratio: Return per unit of total volatility	-0.33	1.98	-2.30
Sortino ratio: Return per unit of downside risk	-0.30	2.65	-2.94
Omega ratio: Gain probability vs. loss probability	0.96	1.36	-0.40
Calmar ratio: Return relative to maximum drawdown	-0.26	2.69	-2.95
Martin ratio: Return relative to average drawdown	-0.53	12.15	-12.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TMDIX vs. BKLC - Sharpe Ratio Comparison

The current TMDIX Sharpe Ratio is -0.33, which is lower than the BKLC Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of TMDIX and BKLC, 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

	TMDIX	BKLC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.33	1.98	-2.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.19	0.80	-0.61
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	1.09	-0.56

Drawdowns

TMDIX vs. BKLC - Drawdown Comparison

The maximum TMDIX drawdown since its inception was -48.73%, which is greater than BKLC's maximum drawdown of -26.14%. Use the drawdown chart below to compare losses from any high point for TMDIX and BKLC.

Drawdown Indicators

	TMDIX	BKLC	Difference
Max Drawdown Largest peak-to-trough decline	-48.73%	-26.14%	-22.59%
Max Drawdown (1Y) Largest decline over 1 year	-25.45%	-9.10%	-16.35%
Max Drawdown (3Y) Largest decline over 3 years	-25.45%	-19.05%	-6.40%
Max Drawdown (5Y) Largest decline over 5 years	-30.53%	-26.14%	-4.39%
Max Drawdown (10Y) Largest decline over 10 years	-35.44%	—	—
Current Drawdown Current decline from peak	-14.27%	-3.00%	-11.27%
Average Drawdown Average peak-to-trough decline	-7.16%	-5.26%	-1.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.20%	2.01%	+10.19%

Volatility

TMDIX vs. BKLC - Volatility Comparison

AMG TimesSquare Mid Cap Growth Fund (TMDIX) has a higher volatility of 5.10% compared to BNY Mellon US Large Cap Core Equity ETF (BKLC) at 3.91%. This indicates that TMDIX's price experiences larger fluctuations and is considered to be riskier than BKLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TMDIX	BKLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.10%	3.91%	+1.19%
Volatility (6M) Calculated over the trailing 6-month period	17.40%	9.58%	+7.82%
Volatility (1Y) Calculated over the trailing 1-year period	19.83%	12.40%	+7.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.43%	17.21%	+3.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.11%	17.46%	+3.65%

TMDIX vs. BKLC - Expense Ratio Comparison

TMDIX has a 0.98% expense ratio, which is higher than BKLC's 0.00% expense ratio.

Dividends

TMDIX vs. BKLC - Dividend Comparison

TMDIX has not paid dividends to shareholders, while BKLC's dividend yield for the trailing twelve months is around 1.04%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BKLC BNY Mellon US Large Cap Core Equity ETF	1.04%	1.05%	1.22%	1.35%	1.64%	1.10%	0.84%	0.00%	0.00%	0.00%	0.00%	0.00%
TMDIX AMG TimesSquare Mid Cap Growth Fund	0.00%	0.00%	8.08%	3.98%	3.69%	29.72%	18.28%	31.06%	16.38%	14.44%	5.90%	7.73%

Frequently Asked Questions

Can I hold both TMDIX and BKLC in my portfolio?

TMDIX and BKLC have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TMDIX or BKLC?

TMDIX has higher volatility (5.10%) compared to BKLC (3.91%). In terms of maximum drawdown, TMDIX dropped -48.73% vs BKLC's -26.14%.

Which has better risk-adjusted returns?

BKLC currently has the higher Sharpe Ratio (1.98 vs -0.33), 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.