BNY offers a pair of zero-fee ETFs. One is a large-cap U.S. equity index ETF. The second tracks a well-known broad market investment-grade bond index. However, the firm has been seeing greater success in 2025 with a pair of actively managed ETFs.
A Look at Zero-Fee ETFs
The BNY Mellon US Large Cap Core Equity ETF (BKLC ) has a net expense ratio of 0.00%. The fee really is zero. BKLC provides broad equity exposure to approximately 500 stocks in a market-cap-weighted manner. The ETF manages $3.3 billion in assets, with just over $250 million of net inflows thus far in 2025.
As we wrote about recently, the BNY Mellon Core Bond ETF (BKAG ) is the cheapest fixed income ETF. This fund, which also has a zero fee, provides investment-grade bond exposure by replicating the returns of the widely followed Bloomberg Aggregate Bond index. Yet the $2 billion BKAG had $50 million of net outflows YTD through May 23. Peer products from iShares and Vanguard have raked in more than $2 billion each this year despite a higher expense ratio.
BNY offers other low-cost — but not free — asset-allocation-type index ETFs. These ETFs are focused on small-caps, midcaps, international equities, and more.
Demand for BNY’s Active ETFs
However, this year, BNY’s most popular ETF was the BNY Mellon Dynamic Value ETF (BKDV). This fund launched in November 2024 and already manages $310 million in assets. Nearly all of that money — $285 million — has flowed in during 2025.
The actively managed BKDV looks to identify companies with attractive valuations, strong fundamentals, and catalyst-driven business momentum. Bank of American, Berkshire Hathaway, and JPMorgan lead the ETF’s exposure to financials (31% of assets). Meanwhile, Danaher and Johnson & Johnson can be found in the fund’s 19% healthcare stake. Year-to-date through May 23, BKDV was up 1.8%. The fund has a 0.60% expense ratio.
Meanwhile, the BNY Mellon Global Infrastructure Income ETF (BKGI ) was up 25% in value. The cross-sector thematic ETF gathered $110 million in assets this year, tripling its asset base to $165 million.
BKGI primarily provides exposure to utilities (61% of assets), energy (18%), and industrials (11%) companies. Dominion Energy, Hess Midstream, and Oneok are a few examples. However, the fund also has exposure to nontraditional infrastructure sectors like communications services (6%) and real estate (3%). BKGI’s net expense ratio is 0.55%.
A Newer Active ETF to Consider
At the end of the first quarter, BNY also launched the BNY Mellon Concentrated Growth ETF (BKCG). The $115 million ETF holds just 26 positions and is expected to take a low turnover approach. While some of its top 10 positions are common in a growth strategy, others are not. Amazon,com, Microsoft, and Nvidia are joined by BAE Systems and Intuit. BKCG’s fee is 0.50%.
BNY has a suite of actively managed ETFs worthy of closer scrutiny.
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