BKDV vs SASS

BKDVBBNY Mellon Dynamic Value ETF

SASSDM.D. Sass Concentrated Value ETF

In short

BKDV BNY Mellon's 2024 swing at active value: roughly 90 hand-picked US stocks, priced below what the typical active equity fund charges. A young fund with a very old asset manager behind it.

SASS A high-conviction take on US value: M.D. Sass runs a concentrated book of large- and mid-cap value names measured against the Russell 1000 Value, leaning on stock picking rather than owning the whole index.

Stated mandate

BKDV The fund seeks long-term capital appreciation and invests principally in common stocks.

SASS The Fund seeks long-term capital appreciation through an actively managed, high-conviction U.S. equity strategy focused primarily on large- and mid-capitalization value companies.

Why people hold it

• BKDV At 0.60% a year, it undercuts the 0.65% median for active US equity funds. Not index-cheap, but you aren't paying a premium for the stock picking.
• Roughly 90 holdings, so every name has to earn its slot. This is a concentrated value book chasing long-term capital appreciation, not a closet index wearing a value label.
• Sits in the top quartile of its active US equity peer group, helped by downside behavior that has been steadier than most rivals over its short life.
• Already a billion-dollar-plus fund despite launching in 2024, backed by one of the oldest names in US asset management.

• SASS Concentrated by design: a high-conviction set of large- and mid-cap value names, so the portfolio can look nothing like the Russell 1000 Value it measures itself against.
• The mandate is narrow and legible: US stocks, value screen, actively picked. No overseas drift, no factor grab bag.
• Standard 1940 Act fund plumbing, so shareholders get ordinary 1099 reporting rather than a K-1.

Worth knowing

• BKDV Launched November 2024. The risk picture rests on about a year of live data, and short records tell you less than long ones.
• Systematic peers cost a fraction of this: DFAU charges 0.12%, AVLC 0.15%. The active premium here is several times their fee.
• Moderately traded rather than one of the busiest tickers in the category, so spreads can run wider than on big index products.

• SASS The 0.75% expense ratio sits above the typical active US equity ETF, and the strongest-rated peers in the group (DFAU, AVLC) charge well under 0.20%.
• Thinly traded on a modest asset base, so spreads can be wider than in megacap index funds. Limit orders matter more here.
• Concentration cuts both ways: with few holdings, one name's stumble moves the whole fund. It launched in 2026, so the live record is short.

Full BKDV profile⁠

Full SASS profile⁠