At a glance
BKIV charges 0.5% a year, below the 0.52% average of the 8 funds most like it (the 4th cheapest of 9). It has $17.7M in assets, the 9th largest of that group. Over the past year it returned −0.7% with distributions reinvested (S&P 500: +11.5%), 6th of those 9 funds; over three years it returned +21.3% a year. Its ten largest positions make up 52.1% of the fund, out of 48 in all.
The short version
BNY Mellon Innovators ETF (BKIV) is an actively managed fund, not an index tracker, that holds mostly U.S. growth stocks chosen as leaders in, or beneficiaries of, innovation. As of August 29, 2025, it held 48 companies, with NVIDIA at 16.4% of assets and the top 10 holdings at 52.1%. Its 0.50% fee is near the 0.52% average for similar funds, but its $17.7 million in assets made it the smallest of the group.
Price history
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BKIV -0.7% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| BKIV official prospectus, to Dec 31, 2024 | — | +21.58% | — | — | — | +24.06% |
| Russell 3000® Index (reflects no deductions for fees, expenses or taxes) index, same period | — | +23.81% | — | — | — | +26.12% |
| Russell 3000® Growth Index (reflects no deductions for fees, expense or taxes) index, same period | — | +32.46% | — | — | — | +34.37% |
| BKIV price data to Oct 27, 2026 | -0.7% | -0.7% | +21.3% | — | — | +13.9% |
- Over the year to Oct 27, 2026, BKIV returned -0.7%, 6th of 9 among similar funds.
- Its worst full calendar year was 2025 (+12.4%); its best was 2024 (+21.5%).
- The deepest fall in its price history was 28.6% (Feb 19, 2025 to Apr 8, 2025), recovered by Aug 13, 2025.
Show as a table
| Year | Price data |
|---|---|
| 2025 | +12.4% |
| 2024 | +21.5% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
What's inside
As of Aug 29, 2025, the fund held 48 securities; the ten largest made up 52.1% of assets.
| Holding | Weight | |
|---|---|---|
| NVIDIA Corp | 16.45% | |
| Alphabet Inc | 6.65% | |
| Insmed Inc | 6.48% | |
| Netflix Inc | 5.11% | |
| iRhythm Technologies Inc | 3.60% | |
| CoStar Group Inc | 3.55% | |
| Shopify Inc | 2.89% | |
| Klaviyo Inc | 2.64% | |
| Repligen Corp | 2.38% | |
| Broadcom Inc | 2.36% | |
| Ascendis Pharma A/S | 2.20% | |
| Reddit Inc | 2.11% | |
| Axon Enterprise Inc | 2.00% | |
| Block Inc | 1.97% | |
| CyberArk Software Ltd | 1.97% |
By country
United States 88.89%Canada 4.2%Israel 3.21%Denmark 2.2%Ireland 1.21%By asset type
Stocks 99.71%By sector
Sectors of the companies held, for the 53.8% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Aug 29, 2025. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Aug 29, 2025, investors added a net $0.00 (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +8.65%, -1.31%, +5.62%.
How it works
BKIV does not track an index. Its sub-adviser, Newton Investment Management North America (NIMNA), a BNY Mellon affiliate, picks the stocks, aiming for long-term capital growth. It targets "innovation-driven" companies: those whose intellectual property yields new or much-improved products and services, and those whose businesses benefit from using them. It may weigh research and development spending, product differentiation, industry recognition, market share or growth, and company culture.
NIMNA uses a growth style, favoring companies it expects to grow earnings faster than most. It pairs research on individual companies with "thematic insights," broad trends it draws from global economic data. It looks for strong business models, healthy finances, capable management and sustainable earnings growth at an attractive valuation. Companies of any size qualify.
Position sizes are the manager's call, not a formula's. NIMNA may drop a stock when the company's momentum fades, its price tops NIMNA's estimate of value, a better idea appears or the original case breaks down. The fund is non-diversified, so it can hold large stakes in a few companies. It may also put over 20% of assets in a sector; as of February 28, 2025, that meant healthcare and information technology. Annual turnover, the share of holdings replaced, was 44.08% in the latest reported year. It held no derivatives as of August 29, 2025.
What it really costs
- BKIV charges 0.5% a year, versus an average of 0.52% for the similar funds below (4th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $51 in the first year and $628 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| BKIV | $51 | $160 | $280 | $628 |
In a retirement portfolio
With 48 companies as of August 29, 2025, including a 16.4% stake in NVIDIA, and no distributions on record, this concentrated growth fund fits better as a small add-on than as a foundation.
BKIV could add a concentrated bet on innovation-focused growth companies alongside a broad core fund. It launched on May 16, 2023, so its record misses the 2008, 2020 and 2022 downturns. It gained 21.6% in 2024 and 12.4% in 2025, its only full calendar years, but fell 28.6% from February 19 to April 8, 2025, recovering by August 13, about four months later. Anyone forced to cash out near that low would have locked in the loss. No distributions are on record, so spending money would have to come from cashing in shares. The 0.50% expense ratio, its annual fee, comes to $51 in the first year on $10,000 and $628 over 10 years in the SEC's standard example, which assumes a 5% yearly return. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting an actively picked growth holding that pairs NVIDIA with healthcare names like Insmed, iRhythm and Repligen (holdings as of August 29, 2025).
- Long-term investors who can ride out sharp swings, such as the 28.6% drop from February 19 to April 8, 2025.
- Those who want active stock picking at a near-average fee: 0.50% a year versus a 0.52% average for similar growth funds.
Look elsewhere if
- Retirees who need regular income: no distributions are on record, so any spending money would mean cashing in shares, even after sharp drops.
- Investors wary of single-stock risk: NVIDIA alone was 16.4% of assets, and the top 10 holdings 52.1%, as of August 29, 2025.
- Those wanting a large, long-running fund: BKIV launched May 16, 2023, and had just $17.7 million in assets as of August 29, 2025.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| BKIV this fund | — | 0.5% | $17.7M | -0.7% | +21.3% |
| FDG American Century Focused Dynamic Growth ETF | 32% | 0.45% | $419.8M | +2.3% | +29.9% |
| TCHP T. Rowe Price Blue Chip Growth ETF | 30% | 0.57% | $2.16B | -1.2% | +23.5% |
| HFGO Hartford Large Cap Growth ETF | 30% | 0.59% | $200.9M | +2.5% | +27.0% |
| AGRW Allspring LT Large Growth ETF | 28% | 0.35% | $112.8M | +4.7% | — |
| IWFG NYLI Winslow Focused Large Cap Growth ETF | 24% | 0.65% | $60.5M | -2.6% | +23.6% |
| CNEQ Alger Concentrated Equity ETF | 24% | 0.55% | $731.5M | +8.3% | — |
| FFLG Fidelity Fundamental Large Cap Growth ETF | 24% | 0.38% | $590.1M | +7.5% | — |
Questions investors ask
What does BKIV invest in?
BKIV owns stocks its sub-adviser, Newton Investment Management North America, sees as leaders in or beneficiaries of innovation. As of August 29, 2025, it held stocks of 48 companies. The largest were NVIDIA (16.4% of assets), Alphabet (6.7%), Insmed (6.5%), Netflix (5.1%), iRhythm Technologies (3.6%) and CoStar Group (3.5%), and the top 10 made up 52.1%. About 89% was in U.S. companies, with the rest in firms such as Canada's Shopify and Israel's CyberArk Software.
Does BKIV pay dividends?
No. There are no distributions on record for BKIV, so it has no yield to quote. That fits its stated goal of long-term capital growth and its focus on growth companies such as NVIDIA, Alphabet and Netflix. Anyone using it to fund spending would have to cash in shares, possibly after a fall like the 28.6% drop between February 19 and April 8, 2025. Funds built for income may be worth comparing for that job.
What's the difference between BKIV and FDG?
Both are growth-stock ETFs with a similar approach, and about 32% of their holdings overlap, the highest overlap among similar funds. American Century's FDG costs less, at 0.45% a year versus 0.50%. It is also much larger, with $419.8 million in assets as of August 31, 2026, against BKIV's $17.7 million as of August 29, 2025. As of October 27, 2026, FDG's three-year return was 29.9% a year, versus 21.3% for BKIV.
Has BKIV beaten the market?
No, not over the period its prospectus reports. From its May 16, 2023, launch through December 31, 2024, BKIV returned 24.06% a year. That was behind the broad Russell 3000 Index at 26.12% and the Russell 3000 Growth Index at 34.37%. In 2024 alone it gained 21.58%, versus 23.81% and 32.46%. Index returns include no fees or expenses, which explains part of the gap. As of October 27, 2026, its three-year return of 21.3% a year ranked last of six funds with three-year records in its comparison group.
How risky is BKIV?
BKIV is a concentrated growth fund, so it can swing more than a broad stock index fund. It is non-diversified, so a few holdings can drive results: as of August 29, 2025, NVIDIA alone was 16.4% of its $17.7 million in assets. Its price fell 28.6% from February 19 to April 8, 2025, before recovering by August 13. Three-year volatility, a gauge of how widely returns swing, was 21.1% as of October 27, 2026. Launched in May 2023, it missed the 2022 bear market, so it is untested in a long decline.