BKMC vs IMCB

BKMCABNY Mellon US Mid Cap Core Equity ETF

IMCBAiShares Morningstar Mid-Cap ETF

In short

BKMC About 400 US mid-caps for four basis points, from BNY Mellon's cut-rate ETF shelf. The fee undercuts most of the mid-cap field; the trade-off is a thinner tape than the household names.

IMCB Mid-cap America for four basis points, running since 2004. It samples Morningstar's US mid-cap index across roughly 400 stocks and hews to that benchmark about as closely as anything in its category.

Stated mandate

BKMC The fund seeks to track the Solactive GBS United States 400 Index TR.

IMCB The Fund seeks to track an index of mid-capitalization U.S. equities. It uses indexing and representative sampling rather than trying to outperform the index.

Why people hold it

• BKMC Costs 0.04% a year, well under the 0.15% median for US mid-cap funds and level with the cheapest of the big index shops (IMCB).
• Tracks the Solactive GBS United States 400 Index tightly, with roughly 400 names spreading single-stock risk across the whole mid-cap band.
• Straight index core equity in a standard 1940 Act fund: one benchmark, no sector tilts, quarterly distributions.

• IMCB Costs 0.04% a year, against roughly 0.15% typical for the mid-cap group.
• Indexing, not opinions: representative sampling of the Morningstar US Mid Cap Index, with tracking among the tightest in its peer group.ishares.com
• Trading since 2004 and now a multi-billion-dollar fund, so there is a long operating history here, not a launch-year story.
• About 400 names covering both the growth and value sides of US mid caps, so no style tilt is baked in.

Worth knowing

• BKMC Thinly traded next to the mid-cap heavyweights, which tends to mean wider bid-ask spreads and more price impact on big orders.
• Launched in 2020, so the live track record is short compared with mid-cap index funds that have run for decades.
• VO and SCHM shave another basis point off the fee and carry far heavier trading, so the cost edge here is about matching the field, not leading it.

• IMCB Thinly traded next to the category's household names, so spreads and order handling matter more at the moment of a trade.
• All US, all stocks: mid caps move harder than mega caps, and nothing else in the portfolio cushions an equity selloff.
• VO and SCHM cover similar ground at 0.03%, so the cost edge here is over the group average rather than over the cheapest rivals.

Full BKMC profile⁠

Full IMCB profile⁠