At a glance
BKMC charges 0.04% a year, below the 0.1% average of the 8 funds most like it (the 2nd cheapest of 9). It has $647.8M in assets, the 7th largest of that group; it paid 1.52% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +8.5% with distributions reinvested (S&P 500: +11.5%), the weakest of those 9 funds; over three years it returned +17.9% a year. At its worst it fell 23.4% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 16 months after the low. Its ten largest positions make up 6.4% of the fund, out of 402 in all.
The short version
BNY Mellon US Mid Cap Core Equity ETF (BKMC) is an index fund that tracks the Solactive GBS United States 400 Index. That index holds about 400 mid-sized US companies, the ones just below the 500 largest. Its main draw is cost: a 0.04% expense ratio, against a 0.10% average for similar mid-cap funds. The trade-off is recent results. Its 8.5% return over the year to October 27, 2026 was the lowest of nine comparable mid-cap funds.
Price history
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BKMC +8.5% 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 | |
|---|---|---|---|---|---|---|
| BKMC official prospectus, to Dec 31, 2025 | — | +8.58% | — | +8.60% | — | +16.20% |
| Solactive GBS United States 400 Index TR (reflects no deductions for fees, expenses or taxes) index, same period | — | +8.54% | — | +7.37% | — | +16.06% |
| S&P Composite 1500® Index (reflects no deductions for fees, expenses or taxes) index, same period | — | +17.02% | — | +13.96% | — | +19.50% |
| BKMC price data to Oct 27, 2026 | +9.1% | +8.5% | +17.9% | +6.4% | — | +7.9% |
- Over the year to Oct 27, 2026, BKMC returned +8.5%, 9th of 9 among similar funds.
- Its 5-year annualized return was +6.4%.
- Its worst full calendar year was 2022 (-16.1%); its best was 2023 (+17.5%).
- The deepest fall in its price history was 25% (Nov 16, 2021 to Oct 14, 2022), recovered by Feb 27, 2024.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +9.1% | — |
| 2025 | +8.8% | +8.58% |
| 2024 | +13.8% | +13.96% |
| 2023 | +17.5% | +17.47% |
| 2022 | -16.1% | -15.94% |
| 2021 | — | +23.67% |
| 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 | Lost 22.6% over that stretch · deepest drop along the way 23.4%, back to its old high 16.4 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.4400 | |
| 2025 | $0.4933 | -5.7% |
| 2024 | $0.5233 | +25.6% |
| 2023 | $0.4167 | -2.3% |
| 2022 | $0.4267 |
What's inside
As of Jul 31, 2026, the fund held 402 securities; the ten largest made up 6.39% of assets.
| Holding | Weight | |
|---|---|---|
| REVOLUTION MEDICINES INC | 0.87% | |
| TWILIO INC | 0.72% | |
| CARPENTER TECHNOLOGY CORP | 0.64% | |
| NVENT ELECTRIC PLC | 0.63% | |
| ATI INC | 0.63% | |
| OKTA INC | 0.62% | |
| F5 INC | 0.58% | |
| BURLINGTON STORES INC | 0.57% | |
| US FOODS HOLDING CORP | 0.57% | |
| TENET HEALTHCARE CORP | 0.56% | |
| SNAP-ON INC | 0.54% | |
| VIATRIS INC | 0.51% | |
| GUARDANT HEALTH INC | 0.50% | |
| ROKU INC | 0.49% | |
| CF INDUSTRIES HOLDINGS INC | 0.49% |
By country
United States 94.05%Ireland 1.98%Bermuda 1.65%Jersey 0.39%Cayman Islands 0.36%By asset type
Stocks 99.62%What changed recently
- Over the three months to Jul 31, 2026, investors added a net $9.9M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +2.71%, +2.75%, -2.40%.
How it works
BKMC, from BNY Mellon, aims to track the Solactive GBS United States 400 Index TR, which measures 400 mid-sized US-listed companies. Eligible securities are common stocks and real estate investment trusts (REITs, companies that own or finance property) that meet trading requirements. The index leaves out members of Solactive's index of the 500 largest US-listed companies. As of December 31, 2025, it held 403 securities, with company values from $429 million to $32.10 billion.
Each quarter, in February, May, August and November, the index ranks eligible companies by total market value. The top 340 get in automatically. Existing members ranked 341 to 480 keep their spots until the count reaches 400, a buffer that limits needless trading. The index weights stocks by free float market value, counting only shares the public can trade, so bigger companies get bigger slices. As of July 31, 2026, the top 10 holdings, led by Revolution Medicines (0.87%) and Twilio (0.72%), totaled just 6.39% of assets.
The fund normally owns every index stock at its index weight, but may hold a representative sample when buying them all is impractical or costly. It makes no attempt to sidestep market declines. Financials made up about 22.28% of the index as of December 31, 2025.
What it really costs
- BKMC charges 0.04% a year, versus an average of 0.1% for the similar funds below (2nd of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $4 in the first year and $51 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| BKMC | $4 | $13 | $23 | $51 |
In a retirement portfolio
It adds about 400 mid-sized US companies that large-company index funds largely leave out, for 0.04% a year.
BKMC has a short record. It launched in April 2020, after the COVID crash, so it has no history from 2008 or 2020. In the 2022 bear market it fell 23.4% between January 4 and September 30, 2022. Its deepest drop, 25% from November 2021 to October 2022, took 16.5 months to recover, ending in February 2024. Its worst calendar year was 2022, at -15.94%. Anyone who needed to sell shares or draw cash in late 2022 would have locked in those losses. The yield was 1.52% as of October 27, 2026, paid quarterly, so this is not an income fund. Costs are low. In the SEC's standard example, $10,000 would cost about $4 in fees in the first year and $51 over ten years. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Cost-focused investors who want about 400 US mid-sized companies for 0.04% a year, below the 0.10% average of similar funds.
- Holders of a large-company fund who want mid-cap exposure, since the index leaves out the 500 largest US-listed companies.
- Long-term investors who can sit through swings like the 25% drop of 2021–2022, which took 16.5 months to recover.
Look elsewhere if
- Income seekers: the yield was 1.52% as of October 27, 2026, paid quarterly.
- Those who prefer a larger fund: BKMC had $648 million as of July 31, 2026, while IJH had about $124 billion as of June 30, 2026.
- Those who prefer the S&P MidCap 400 index: IJH, IVOO and SPMD track it, and all beat BKMC's 8.5% one-year return through late October 2026.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| BKMC this fund | — | 0.04% | $647.8M | +8.5% | +17.9% |
| BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity E… | 75% | 0.07% | $2.03B | +16.5% | +22.2% |
| IQSM NYLI Candriam U.S. Mid Cap Equity ETF | 66% | 0.15% | $329.7M | +14.3% | +18.0% |
| SCHM Schwab US Mid-Cap ETF | 64% | 0.04% | $14.86B | +20.5% | +18.9% |
| IVOO Vanguard S&P Mid-Cap 400 ETF | 60% | 0.07% | $5.87B | +12.0% | +18.0% |
| SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 59% | 0.03% | $18.39B | +15.3% | +16.6% |
| IJH iShares Core S&P Mid-Cap ETF | 59% | 0.05% | $124.33B | +15.3% | +16.6% |
| MDY SPDR S&P Midcap 400 ETF Trust | 59% | 0.24% | $28.05B | +14.9% | +16.3% |
Questions investors ask
Is BKMC good for retirement?
It can fill one part of a portfolio rather than serve as the whole thing. BKMC holds about 400 US mid-sized companies for 0.04% a year, so it can sit alongside a large-company fund. But it is all stocks and swings like them. It fell 25% from November 2021 to October 2022 and took 16.5 months to recover. Its 1.52% yield as of October 27, 2026 is modest, so it is not built for income.
What is the expense ratio of BKMC?
BKMC's expense ratio is 0.04%, according to its prospectus filed February 27, 2026, with no fee waiver. That ranks second-lowest of nine comparable mid-cap funds, which average 0.10%. Only SPDR Portfolio S&P 400 Mid Cap ETF (SPMD), at 0.03%, costs less, and Schwab US Mid-Cap ETF (SCHM) matches it. In the SEC's standard example, $10,000 earning 5% a year would cost about $4 in the first year and $51 over ten years.
What's the difference between BKMC and BBMC?
Both are US mid-cap stock index funds, and about 75% of their holdings overlap, based on their latest fund filings. BKMC costs 0.04% a year, versus 0.07% for JPMorgan BetaBuilders U.S. Mid Cap Equity ETF (BBMC). BBMC is much larger, with about $2.0 billion in assets against BKMC's $648 million as of July 31, 2026. Over the year to October 27, 2026, BBMC returned 16.5% and BKMC 8.5%. Over three years, BBMC returned 22.2% a year and BKMC 17.9%.
Does BKMC pay dividends?
Yes, BKMC pays dividends every quarter. Over the 12 months to October 27, 2026, it paid about $0.60 per share, a yield of 1.52%. The income comes from the mid-sized companies and REITs the fund holds, so it rises and falls with their payouts. The fund is built to track mid-cap stocks, not to produce high income. Investors who want larger regular payments may find it worth comparing with dividend-focused funds.
How has BKMC performed since launch?
As of December 31, 2025, BKMC returned 8.58% over one year, 8.6% a year over five years and 16.2% a year since its April 2020 launch, according to its prospectus. The since-launch figure benefits from starting just after the 2020 COVID low. Over five years the fund beat its own index (7.37%) but trailed the broader S&P Composite 1500 (13.96%). Calendar-year returns ranged from 23.67% in 2021 to -15.94% in 2022.