BKAG vs SPY
BKAG vs SPY
BNY Mellon Core Bond ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
BKAG has a lower expense ratio. SPY delivered stronger 1-year returns. BKAG offers more diversification with 4433 holdings.
Side-by-Side Comparison
| Metric | BKAG | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.00% | 0.09% | |
| AUM | $2.2B | $789.1B | |
| Dividend Yield | 4.22% | 1.01% | |
| Holdings | 5,305 | 505 | |
| YTD Return | -0.63% | +9.93% | |
| 1Y Return | +2.72% | +19.50% | |
| 3Y Return (annualized) | +3.78% | +19.33% | |
| 5Y Return (annualized) | -0.55% | +12.82% | |
| Volatility (annualized) | 5.9% | 15.3% | |
| Max Drawdown | -19.2% | -56.5% | |
| Fund Family | BNY Mellon Investment Management | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Apr 22, 2020 | Jan 22, 1993 |
BKAG vs SPY Performance
BNY Mellon Core Bond ETF (BKAG) is a ETF from BNY Mellon Investment Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year BKAG returned +2.72% while SPY returned +19.50%. Year to date, BKAG is down 0.63% versus a gain of 9.93% for SPY.
Over three years, BKAG compounded at +3.78% per year against +19.33% for SPY; over five years the annualized figures are -0.55% and +12.82% respectively. Across the full 6-year window we track, SPY has the edge at +8.74% annualized vs -0.33%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 5.9% for BKAG. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -19.2% for BKAG and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.57. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
BKAG charges 0.00% per year while SPY charges 0.09%. On a $10,000 position that is $0 vs $9 annually, a gap of $9 per year that compounds over a long holding period. On income, BKAG currently yields 4.22% against 1.01% for SPY.
Holdings Overlap
BKAG and SPY share 3 holdings out of 4933 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, BKAG or SPY?
BKAG has an expense ratio of 0.00% while SPY charges 0.09%. BKAG is the cheaper option. On a $10,000 investment, that is $9 per year of difference.
Which performed better, BKAG or SPY?
Over the past year BKAG returned +2.72% vs +19.50% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), BKAG annualized -0.33% vs +8.74% for SPY. Past performance does not guarantee future results.
Which is riskier, BKAG or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 5.9% for BKAG. Worst drawdown: BKAG -19.2% vs SPY -56.5%.
Should I hold both BKAG and SPY?
BKAG and SPY have a monthly-return correlation of 0.57, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BKAG and SPY?
BKAG and SPY share 3 common holdings with a 0.0% weight overlap. Combined, they hold 4933 unique securities.
Which pays a higher dividend, BKAG or SPY?
BKAG yields 4.22% while SPY yields 1.01%, so BKAG currently pays the higher dividend yield.
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