BDVL vs YOKE

BDVLAiShares Disciplined Volatility Equity Active ETF

YOKEBYOKE Core ETF

In short

BDVL A global low-volatility fund with an active engine: a quant model picks roughly 500 stocks on low vol, quality and value, scored against MSCI's ACWI Minimum Volatility Index. Fee: 0.39% net of a waiver through June 30, 2028.

YOKE A go-anywhere global stock fund with no index to hug: Yoke tilts toward momentum and quality and can shift across sectors, regions and market caps. Active ambition at 0.31%, below the typical fee in its category.

Stated mandate

BDVL The Fund seeks risk-adjusted total return through active management of equity exposure, with a focus on managing volatility relative to the broad equity market.

YOKE The Fund seeks capital appreciation through an actively managed, dynamic tactical allocation portfolio spanning domestic and international equity markets. It uses stocks, ETFs, REITs, ADRs and GDRs, with exposures that may shift across sectors, regions and market capitalizations.

Why people hold it

• BDVL Costs 0.39% net of a waiver through June 30, 2028, below the median fee among global active equity peers and under sibling fund BFLX at 0.40%.
• Roughly 500 holdings worldwide, so no single stock runs the show. Its holdings build and risk profile rank among the strongest in its peer group.
• Built to hold core equity exposure while leaning toward stocks that have shown smaller price swings than the broad market.ishares.com
• Trading since 2017, a long life for an active equity ETF, and it has gathered billions from investors along the way.

• YOKE Cheap for a stock-picker: 0.31%, with gross and net identical and no waiver propping it up, and below the category median. iShares' active BFLX charges 0.40%.
• Genuinely active: stocks, ETFs, REITs, ADRs and GDRs across US and developed overseas markets, with momentum and quality tilts that can shift by sector, region and size.
• Stands in the top quartile of a crowded field of active global equity funds, helped by what it holds and what it charges. It also pays distributions quarterly.

Worth knowing

• BDVL A model, not an index, picks the names. Active discretion cuts both ways against the MSCI minimum-volatility benchmark it is measured by.
• The low-vol tilt means lighter exposure to the market's most volatile high-flyers, which shapes how it behaves when those names run.
• Cheaper active options sit in the same category: AVTM at 0.22% and AVGE at 0.23% deliver broad global equity without the volatility focus.

• YOKE Thinly traded and a smaller fund, so bid-ask spreads can run wider than on the giant index names.
• Young: it launched in February 2025, so the risk picture rests on about a year of live data.
• No index to check the manager against. Results ride on the sub-adviser's tactical calls rather than a published rulebook.sec.gov

Full BDVL profile⁠

Full YOKE profile⁠