BKMI vs. THYM

Last updated Jun 4, 2026

BKMI (BNY Mellon Municipal Intermediate ETF) and THYM (T. Rowe Price High Income Municipal ETF) are both exchange-traded funds - BKMI is a Municipal Bonds fund actively managed by BNY Mellon, while THYM is a High Yield Muni fund actively managed by T. Rowe Price. Both are actively managed. At a 0.49 correlation, their price movements are largely independent. BKMI charges 0.35%/yr vs 0.32%/yr for THYM.

Performance

BKMI vs. THYM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon Municipal Intermediate ETF (BKMI) and T. Rowe Price High Income Municipal ETF (THYM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BKMI

• 1D: -0.06%
• 1M: 0.49%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

THYM

• 1D: 0.14%
• 1M: 1.14%
• YTD: 3.33%
• 6M: 3.62%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BKMI vs. THYM - Yearly Performance Comparison

	2026 (YTD)
BKMI BNY Mellon Municipal Intermediate ETF	0.26%
THYM T. Rowe Price High Income Municipal ETF	2.57%

Correlation

The correlation between BKMI and THYM is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 13, 2026	0.49

Return for Risk

BKMI vs. THYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Municipal Intermediate ETF (BKMI) and T. Rowe Price High Income Municipal ETF (THYM). 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.

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

Sharpe Ratios by Period

	BKMI	THYM	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	1.62	-1.39

Drawdowns

BKMI vs. THYM - Drawdown Comparison

The maximum BKMI drawdown since its inception was -2.99%, roughly equal to the maximum THYM drawdown of -2.93%. Use the drawdown chart below to compare losses from any high point for BKMI and THYM.

Drawdown Indicators

	BKMI	THYM	Difference
Max Drawdown Largest peak-to-trough decline	-2.99%	-2.93%	-0.06%
Current Drawdown Current decline from peak	-1.23%	0.00%	-1.23%
Average Drawdown Average peak-to-trough decline	-1.17%	-0.49%	-0.68%

Volatility

Volatility by Period

	BKMI	THYM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	2.88%	4.35%	-1.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.88%	4.35%	-1.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.88%	4.35%	-1.47%

BKMI vs. THYM - Expense Ratio Comparison

BKMI has a 0.35% expense ratio, which is higher than THYM's 0.32% expense ratio.

Dividends

BKMI vs. THYM - Dividend Comparison

BKMI's dividend yield for the trailing twelve months is around 0.98%, less than THYM's 2.18% yield.

Position	TTM	2025
BKMI BNY Mellon Municipal Intermediate ETF	0.98%	0.00%
THYM T. Rowe Price High Income Municipal ETF	2.18%	0.37%

Frequently Asked Questions

Can I hold both BKMI and THYM in my portfolio?

BKMI and THYM have a correlation of 0.49, 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 THYM?

On fees, THYM is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BKMI or THYM?

THYM is cheaper with a 0.32% expense ratio, compared with 0.35% for BKMI.

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

THYM has the higher dividend yield at 2.18%, compared with 0.98% for BKMI.

What is the main difference between BKMI and THYM?

BKMI is categorized as Municipal Bonds, while THYM is High Yield Muni. They also come from different issuers: BNY Mellon and T. Rowe Price. Their fees differ too: 0.35% for BKMI and 0.32% for THYM.