BKMI vs. IEO
BKMI (BNY Mellon Municipal Intermediate ETF) and IEO (iShares U.S. Oil & Gas Exploration & Production ETF) are both exchange-traded funds - BKMI is a Municipal Bonds fund actively managed by BNY Mellon, while IEO is a Energy Equities fund tracking the Dow Jones U.S. Select Oil Exploration & Production Index. BKMI is actively managed, while IEO is passively managed. At a correlation of -0.33, they often move in opposite directions. BKMI charges 0.35%/yr vs 0.42%/yr for IEO.
Performance
BKMI vs. IEO - Performance Comparison
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Returns By Period
BKMI
- 1D
- -0.08%
- 1M
- 0.97%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IEO
- 1D
- 0.36%
- 1M
- -7.22%
- YTD
- 24.43%
- 6M
- 24.33%
- 1Y
- 24.44%
- 3Y*
- 13.56%
- 5Y*
- 16.99%
- 10Y*
- 9.69%
BKMI vs. IEO - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
BKMI BNY Mellon Municipal Intermediate ETF | 0.29% |
IEO iShares U.S. Oil & Gas Exploration & Production ETF | 21.98% |
Correlation
The correlation between BKMI and IEO is -0.33, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jan 12, 2026 | -0.33 |
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Return for Risk
BKMI vs. IEO — Risk / Return Rank
BKMI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IEO
BKMI vs. IEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Municipal Intermediate ETF (BKMI) and iShares U.S. Oil & Gas Exploration & Production ETF (IEO). 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 | IEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.17 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.50 | — |
| Martin ratioReturn relative to average drawdown | — | 4.18 | — |
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Drawdowns
BKMI vs. IEO - Drawdown Comparison
The maximum BKMI drawdown since its inception was -2.99%, smaller than the maximum IEO drawdown of -79.17%. Use the drawdown chart below to compare losses from any high point for BKMI and IEO.
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Drawdown Indicators
| BKMI | IEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.99% | -79.17% | +76.18% |
Max Drawdown (1Y)Largest decline over 1 year | — | -16.32% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -31.46% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -31.46% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.00% | — |
Current DrawdownCurrent decline from peak | -1.19% | -14.30% | +13.11% |
Average DrawdownAverage peak-to-trough decline | -1.16% | -26.23% | +25.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 5.87% | — |
Volatility
BKMI vs. IEO - Volatility Comparison
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Volatility by Period
| BKMI | IEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 8.60% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 20.02% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.82% | 25.66% | -22.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.82% | 30.53% | -27.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.82% | 34.99% | -32.17% |
BKMI vs. IEO - Expense Ratio Comparison
BKMI has a 0.35% expense ratio, which is lower than IEO's 0.42% expense ratio.
Dividends
BKMI vs. IEO - Dividend Comparison
BKMI's dividend yield for the trailing twelve months is around 0.98%, less than IEO's 2.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BKMI BNY Mellon Municipal Intermediate ETF | 0.98% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IEO iShares U.S. Oil & Gas Exploration & Production ETF | 2.12% | 2.61% | 2.63% | 3.00% | 3.77% | 2.62% | 3.17% | 1.85% | 1.67% | 0.94% | 0.98% | 2.03% |
Frequently Asked Questions
BKMI and IEO have a correlation of -0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BKMI is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BKMI is cheaper with a 0.35% expense ratio, compared with 0.42% for IEO.
IEO has the higher dividend yield at 2.12%, compared with 0.98% for BKMI.
BKMI is categorized as Municipal Bonds, while IEO is Energy Equities. They also come from different issuers: BNY Mellon and iShares. Their fees differ too: 0.35% for BKMI and 0.42% for IEO.
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