BKHY vs. BKUI

Last updated Jun 4, 2026

BKHY (BNY Mellon High Yield Beta ETF) and BKUI (BNY Mellon Ultra Short Income ETF) are both exchange-traded funds - BKHY is a High Yield Bonds fund tracking the Bloomberg US Corporate High Yield Index, while BKUI is a Ultrashort Bond fund actively managed by BNY Mellon. BKHY is passively managed, while BKUI is actively managed. Over the past 3 years, BKHY returned 8.83%/yr vs 5.21%/yr for BKUI. At a 0.31 correlation, their price movements are largely independent. BKHY charges 0.22%/yr vs 0.12%/yr for BKUI.

Performance

BKHY vs. BKUI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon High Yield Beta ETF (BKHY) and BNY Mellon Ultra Short Income ETF (BKUI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BKHY achieves a 1.73% return, which is significantly higher than BKUI's 1.42% return.

BKHY

• 1D: -0.26%
• 1M: 0.52%
• YTD: 1.73%
• 6M: 1.94%
• 1Y: 7.29%
• 3Y*: 8.83%
• 5Y*: 4.17%
• 10Y*: —

BKUI

• 1D: -0.01%
• 1M: 0.33%
• YTD: 1.42%
• 6M: 1.74%
• 1Y: 4.32%
• 3Y*: 5.21%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BKHY vs. BKUI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BKHY BNY Mellon High Yield Beta ETF	1.73%	8.48%	8.37%	12.40%	-10.97%	1.55%
BKUI BNY Mellon Ultra Short Income ETF	1.42%	4.93%	5.50%	5.75%	-0.08%	-0.26%

Correlation

The correlation between BKHY and BKUI is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (All Time) Calculated using the full available price history since Aug 12, 2021	0.31

Return for Risk

BKHY vs. BKUI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BKHY

BKHY Risk / Return Rank: 63
BKHY Sharpe Ratio Rank: 58
BKHY Sortino Ratio Rank: 64
BKHY Omega Ratio Rank: 65
BKHY Calmar Ratio Rank: 58
BKHY Martin Ratio Rank: 71

BKUI

BKUI Risk / Return Rank: 99
BKUI Sharpe Ratio Rank: 99
BKUI Sortino Ratio Rank: 100
BKUI Omega Ratio Rank: 100
BKUI Calmar Ratio Rank: 99
BKUI Martin Ratio Rank: 99

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BKHY vs. BKUI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon High Yield Beta ETF (BKHY) and BNY Mellon Ultra Short Income ETF (BKUI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BKHY	BKUI	Difference
Sharpe ratio: Return per unit of total volatility	1.98	10.52	-8.54
Sortino ratio: Return per unit of downside risk	3.00	25.25	-22.25
Omega ratio: Gain probability vs. loss probability	1.40	6.02	-4.63
Calmar ratio: Return relative to maximum drawdown	2.90	32.56	-29.66
Martin ratio: Return relative to average drawdown	13.31	230.94	-217.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BKHY vs. BKUI - Sharpe Ratio Comparison

The current BKHY Sharpe Ratio is 1.98, which is lower than the BKUI Sharpe Ratio of 10.52. The chart below compares the historical Sharpe Ratios of BKHY and BKUI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BKHY	BKUI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.98	10.52	-8.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	6.08	-5.18

Drawdowns

BKHY vs. BKUI - Drawdown Comparison

The maximum BKHY drawdown since its inception was -15.89%, which is greater than BKUI's maximum drawdown of -1.72%. Use the drawdown chart below to compare losses from any high point for BKHY and BKUI.

Drawdown Indicators

	BKHY	BKUI	Difference
Max Drawdown Largest peak-to-trough decline	-15.89%	-1.72%	-14.17%
Max Drawdown (1Y) Largest decline over 1 year	-2.53%	-0.13%	-2.40%
Max Drawdown (3Y) Largest decline over 3 years	-4.87%	-0.25%	-4.62%
Max Drawdown (5Y) Largest decline over 5 years	-15.89%	—	—
Current Drawdown Current decline from peak	-0.26%	-0.01%	-0.25%
Average Drawdown Average peak-to-trough decline	-2.97%	-0.27%	-2.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.55%	0.02%	+0.53%

Volatility

BKHY vs. BKUI - Volatility Comparison

BNY Mellon High Yield Beta ETF (BKHY) has a higher volatility of 1.12% compared to BNY Mellon Ultra Short Income ETF (BKUI) at 0.15%. This indicates that BKHY's price experiences larger fluctuations and is considered to be riskier than BKUI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BKHY	BKUI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.12%	0.15%	+0.97%
Volatility (6M) Calculated over the trailing 6-month period	2.97%	0.31%	+2.66%
Volatility (1Y) Calculated over the trailing 1-year period	3.69%	0.41%	+3.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.58%	0.59%	+6.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.37%	0.59%	+6.78%

BKHY vs. BKUI - Expense Ratio Comparison

BKHY has a 0.22% expense ratio, which is higher than BKUI's 0.12% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

BKHY vs. BKUI - Dividend Comparison

BKHY's dividend yield for the trailing twelve months is around 7.46%, more than BKUI's 4.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
BKHY BNY Mellon High Yield Beta ETF	7.46%	7.33%	7.34%	8.67%	6.59%	6.78%	4.65%
BKUI BNY Mellon Ultra Short Income ETF	4.21%	4.48%	5.11%	4.29%	1.82%	0.22%	0.00%

Frequently Asked Questions

Can I hold both BKHY and BKUI in my portfolio?

BKHY and BKUI have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BKHY or BKUI?

BKHY has higher volatility (1.12%) compared to BKUI (0.15%). In terms of maximum drawdown, BKHY dropped -15.89% vs BKUI's -1.72%.

Which ETF is better, BKHY or BKUI?

On 3-year performance, BKHY leads with 8.83% vs 5.21% for BKUI. On fees, BKUI is cheaper at 0.12% per year. On volatility, BKUI has been the lower-risk option at 0.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BKHY or BKUI?

Over the 3-year period, BKHY has performed better with a 8.83% return vs 5.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BKHY or BKUI?

BKUI is cheaper with a 0.12% expense ratio, compared with 0.22% for BKHY.

Which ETF pays a higher dividend yield, BKHY or BKUI?

BKHY has the higher dividend yield at 7.46%, compared with 4.21% for BKUI.

What is the main difference between BKHY and BKUI?

BKHY is categorized as High Yield Bonds, while BKUI is Ultrashort Bond. Their fees differ too: 0.22% for BKHY and 0.12% for BKUI.

Which has better risk-adjusted returns?

BKUI currently has the higher Sharpe Ratio (10.52 vs 1.98), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.