BKMI vs. BILZ

Last updated Jun 24, 2026

BKMI (BNY Mellon Municipal Intermediate ETF) and BILZ (PIMCO Ultra Short Government Active Exchange-Traded Fund) are both exchange-traded funds - BKMI is a Municipal Bonds fund actively managed by BNY Mellon, while BILZ is a Ultrashort Bond fund actively managed by PIMCO. Both are actively managed. At a 0.06 correlation, their price movements are largely independent. BKMI charges 0.35%/yr vs 0.14%/yr for BILZ.

Performance

BKMI vs. BILZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon Municipal Intermediate ETF (BKMI) and PIMCO Ultra Short Government Active Exchange-Traded Fund (BILZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BKMI

• 1D: -0.08%
• 1M: 0.97%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BILZ

• 1D: 0.00%
• 1M: 0.27%
• YTD: 1.66%
• 6M: 1.74%
• 1Y: 3.88%
• 3Y*: 4.68%
• 5Y*: —
• 10Y*: —

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

BKMI vs. BILZ - Yearly Performance Comparison

	2026 (YTD)
BKMI BNY Mellon Municipal Intermediate ETF	0.29%
BILZ PIMCO Ultra Short Government Active Exchange-Traded Fund	1.57%

Correlation

The correlation between BKMI and BILZ is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 12, 2026	0.06

Return for Risk

BKMI vs. BILZ — Risk / Return Rank

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

BKMI

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

BILZ

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

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.

BKMI vs. BILZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Municipal Intermediate ETF (BKMI) and PIMCO Ultra Short Government Active Exchange-Traded Fund (BILZ). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BKMI	BILZ	Difference
Sharpe ratio: Return per unit of total volatility	—	18.64	—
Sortino ratio: Return per unit of downside risk	—	118.38	—
Omega ratio: Gain probability vs. loss probability	—	47.31	—
Calmar ratio: Return relative to maximum drawdown	—	196.92	—
Martin ratio: Return relative to average drawdown	—	1,893.08	—

Drawdowns

BKMI vs. BILZ - Drawdown Comparison

The maximum BKMI drawdown since its inception was -2.99%, which is greater than BILZ's maximum drawdown of -0.52%. Use the drawdown chart below to compare losses from any high point for BKMI and BILZ.

Drawdown Indicators

	BKMI	BILZ	Difference
Max Drawdown Largest peak-to-trough decline	-2.99%	-0.52%	-2.47%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.02%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.17%	—
Current Drawdown Current decline from peak	-1.19%	0.00%	-1.19%
Average Drawdown Average peak-to-trough decline	-1.16%	-0.01%	-1.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.00%	—

Volatility

Volatility by Period

	BKMI	BILZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.06%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.14%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.82%	0.21%	+2.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.82%	0.52%	+2.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.82%	0.52%	+2.30%

BKMI vs. BILZ - Expense Ratio Comparison

BKMI has a 0.35% expense ratio, which is higher than BILZ's 0.14% expense ratio.

Dividends

BKMI vs. BILZ - Dividend Comparison

BKMI's dividend yield for the trailing twelve months is around 0.98%, less than BILZ's 4.06% yield.

Position	TTM	2025	2024	2023
BILZ PIMCO Ultra Short Government Active Exchange-Traded Fund	4.06%	4.19%	4.95%	2.23%
BKMI BNY Mellon Municipal Intermediate ETF	0.98%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BKMI and BILZ in my portfolio?

BKMI and BILZ have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BKMI or BILZ?

On fees, BILZ is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BKMI or BILZ?

BILZ is cheaper with a 0.14% expense ratio, compared with 0.35% for BKMI.

Which ETF pays a higher dividend yield, BKMI or BILZ?

BILZ has the higher dividend yield at 4.06%, compared with 0.98% for BKMI.

What is the main difference between BKMI and BILZ?

BKMI is categorized as Municipal Bonds, while BILZ is Ultrashort Bond. They also come from different issuers: BNY Mellon and PIMCO. Their fees differ too: 0.35% for BKMI and 0.14% for BILZ.