BKMS vs. BKAG

Last updated Jun 25, 2026

BKMS (BNY Mellon Municipal Short Duration ETF) and BKAG (BNY Mellon Core Bond ETF) are both exchange-traded funds - BKMS is a Municipal Bonds fund actively managed by BNY Mellon, while BKAG is a Total Bond Market fund tracking the Bloomberg US Aggregate Total Return Index. BKMS is actively managed, while BKAG is passively managed. At a 0.31 correlation, their price movements are largely independent. BKMS charges 0.35%/yr vs 0.00%/yr for BKAG.

Performance

BKMS vs. BKAG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon Municipal Short Duration ETF (BKMS) and BNY Mellon Core Bond ETF (BKAG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BKMS

• 1D: 0.07%
• 1M: 0.64%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BKAG

• 1D: 0.43%
• 1M: 1.18%
• YTD: 0.99%
• 6M: 0.79%
• 1Y: 4.47%
• 3Y*: 4.12%
• 5Y*: 0.16%
• 10Y*: —

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

BKMS vs. BKAG - Yearly Performance Comparison

	2026 (YTD)
BKMS BNY Mellon Municipal Short Duration ETF	0.79%
BKAG BNY Mellon Core Bond ETF	0.61%

Correlation

The correlation between BKMS and BKAG is 0.31, 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 12, 2026	0.31

Return for Risk

BKMS vs. BKAG — Risk / Return Rank

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

BKMS

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

BKAG

BKAG Risk / Return Rank: 35
BKAG Sharpe Ratio Rank: 36
BKAG Sortino Ratio Rank: 36
BKAG Omega Ratio Rank: 33
BKAG Calmar Ratio Rank: 35
BKAG Martin Ratio Rank: 34

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.

BKMS vs. BKAG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Municipal Short Duration ETF (BKMS) and BNY Mellon Core Bond ETF (BKAG). 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.

	BKMS	BKAG	Difference
Sharpe ratio: Return per unit of total volatility	—	1.17	—
Sortino ratio: Return per unit of downside risk	—	1.73	—
Omega ratio: Gain probability vs. loss probability	—	1.20	—
Calmar ratio: Return relative to maximum drawdown	—	1.63	—
Martin ratio: Return relative to average drawdown	—	4.52	—

Drawdowns

BKMS vs. BKAG - Drawdown Comparison

The maximum BKMS drawdown since its inception was -0.87%, smaller than the maximum BKAG drawdown of -18.53%. Use the drawdown chart below to compare losses from any high point for BKMS and BKAG.

Drawdown Indicators

	BKMS	BKAG	Difference
Max Drawdown Largest peak-to-trough decline	-0.87%	-18.53%	+17.66%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.76%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-6.04%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.00%	—
Current Drawdown Current decline from peak	0.00%	-1.64%	+1.64%
Average Drawdown Average peak-to-trough decline	-0.26%	-7.07%	+6.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.99%	—

Volatility

Volatility by Period

	BKMS	BKAG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.11%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.83%	—
Volatility (1Y) Calculated over the trailing 1-year period	1.22%	3.84%	-2.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.22%	6.02%	-4.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.22%	5.54%	-4.32%

BKMS vs. BKAG - Expense Ratio Comparison

BKMS has a 0.35% expense ratio, which is higher than BKAG's 0.00% expense ratio.

Dividends

BKMS vs. BKAG - Dividend Comparison

BKMS's dividend yield for the trailing twelve months is around 1.11%, less than BKAG's 4.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
BKAG BNY Mellon Core Bond ETF	4.21%	4.17%	4.26%	3.33%	2.49%	1.55%	1.16%
BKMS BNY Mellon Municipal Short Duration ETF	1.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BKMS and BKAG in my portfolio?

BKMS and BKAG have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BKMS or BKAG?

On fees, BKAG is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BKMS or BKAG?

BKAG is cheaper with a 0.00% expense ratio, compared with 0.35% for BKMS.

Which ETF pays a higher dividend yield, BKMS or BKAG?

BKAG has the higher dividend yield at 4.21%, compared with 1.11% for BKMS.

What is the main difference between BKMS and BKAG?

BKMS is categorized as Municipal Bonds, while BKAG is Total Bond Market. Their fees differ too: 0.35% for BKMS and 0.00% for BKAG.