BKMS vs. BKUI

Last updated Jun 6, 2026

BKMS (BNY Mellon Municipal Short Duration ETF) and BKUI (BNY Mellon Ultra Short Income ETF) are both exchange-traded funds - BKMS is a Municipal Bonds fund actively managed by BNY Mellon, while BKUI is a Ultrashort Bond fund actively managed by BNY Mellon. Both are actively managed. At a 0.41 correlation, their price movements are largely independent. BKMS charges 0.35%/yr vs 0.12%/yr for BKUI.

Performance

BKMS vs. BKUI - 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 Ultra Short Income ETF (BKUI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BKMS

• 1D: -0.08%
• 1M: 0.24%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BKUI

• 1D: 0.00%
• 1M: 0.27%
• YTD: 1.43%
• 6M: 1.75%
• 1Y: 4.28%
• 3Y*: 5.18%
• 5Y*: —
• 10Y*: —

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

BKMS vs. BKUI - Yearly Performance Comparison

	2026 (YTD)
BKMS BNY Mellon Municipal Short Duration ETF	0.54%
BKUI BNY Mellon Ultra Short Income ETF	1.33%

Correlation

The correlation between BKMS and BKUI is 0.41, 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	0.41

Return for Risk

BKMS vs. BKUI — Risk / Return Rank

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

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.

BKMS vs. BKUI - 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 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.

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

Sharpe Ratios by Period

	BKMS	BKUI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	10.49	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.10	6.08	-4.98

Drawdowns

BKMS vs. BKUI - Drawdown Comparison

The maximum BKMS drawdown since its inception was -0.87%, smaller than the maximum BKUI drawdown of -1.72%. Use the drawdown chart below to compare losses from any high point for BKMS and BKUI.

Drawdown Indicators

	BKMS	BKUI	Difference
Max Drawdown Largest peak-to-trough decline	-0.87%	-1.72%	+0.85%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.13%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.25%	—
Current Drawdown Current decline from peak	-0.17%	-0.00%	-0.17%
Average Drawdown Average peak-to-trough decline	-0.28%	-0.27%	-0.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.02%	—

Volatility

Volatility by Period

	BKMS	BKUI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.15%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.31%	—
Volatility (1Y) Calculated over the trailing 1-year period	1.24%	0.41%	+0.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.24%	0.59%	+0.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.24%	0.59%	+0.65%

BKMS vs. BKUI - Expense Ratio Comparison

BKMS has a 0.35% expense ratio, which is higher than BKUI's 0.12% expense ratio.

Dividends

BKMS vs. BKUI - Dividend Comparison

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

Position	TTM	2025	2024	2023	2022	2021
BKMS BNY Mellon Municipal Short Duration ETF	1.11%	0.00%	0.00%	0.00%	0.00%	0.00%
BKUI BNY Mellon Ultra Short Income ETF	4.21%	4.48%	5.11%	4.29%	1.82%	0.22%

Frequently Asked Questions

Can I hold both BKMS and BKUI in my portfolio?

BKMS and BKUI have a correlation of 0.41, 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 BKUI?

On fees, BKUI is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BKMS or BKUI?

BKUI is cheaper with a 0.12% expense ratio, compared with 0.35% for BKMS.

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

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

What is the main difference between BKMS and BKUI?

BKMS is categorized as Municipal Bonds, while BKUI is Ultrashort Bond. Their fees differ too: 0.35% for BKMS and 0.12% for BKUI.