BKMS vs. EIPI

Last updated Aug 5, 2026

BKMS (BNY Mellon Municipal Short Duration ETF) and EIPI (FT Energy Income Partners Enhanced Income ETF) are both exchange-traded funds - BKMS is a Municipal Bonds fund actively managed by BNY Mellon, while EIPI is a Derivative Income fund actively managed by First Trust. Both are actively managed. Their -0.21 correlation means they have often moved in opposite directions in the past. BKMS charges 0.35%/yr vs 1.11%/yr for EIPI.

Performance

BKMS vs. EIPI - Performance Comparison

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

Returns By Period

BKMS

• 1D: 0.10%
• 1M: -0.03%
• 6M: 0.41%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

EIPI

• 1D: -0.09%
• 1M: 2.31%
• 6M: 9.01%
• YTD: 16.75%
• 1Y: 20.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 19.23%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BKMS BNY Mellon Municipal Short Duration ETF	$790.45K	$878.97K	$1.09M
EIPI FT Energy Income Partners Enhanced Income ETF	$3.88M	$2.84M	$2.19M

BKMS vs. EIPI - Yearly Performance Comparison

	2026 (YTD)
BKMS BNY Mellon Municipal Short Duration ETF	0.77%
EIPI FT Energy Income Partners Enhanced Income ETF	16.92%

Correlation

The correlation between BKMS and EIPI is -0.21, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 12, 2026	-0.21

Return for Risk

BKMS vs. EIPI — Risk / Return Rank

Compare historical risk-adjusted metric ranks 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.

EIPI

EIPI Risk / Return Rank: 82
EIPI Sharpe Ratio Rank: 79
EIPI Sortino Ratio Rank: 83
EIPI Omega Ratio Rank: 74
EIPI Calmar Ratio Rank: 91
EIPI Martin Ratio Rank: 82

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BKMS vs. EIPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Municipal Short Duration ETF (BKMS) and FT Energy Income Partners Enhanced Income ETF (EIPI). 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	EIPI	Difference
Sharpe ratio: Return per unit of total volatility	—	2.03	—
Sortino ratio: Return per unit of downside risk	—	3.03	—
Omega ratio: Gain probability vs. loss probability	—	1.35	—
Calmar ratio: Return relative to maximum drawdown	—	4.28	—
Martin ratio: Return relative to average drawdown	—	12.41	—

Drawdowns

BKMS vs. EIPI - Drawdown Comparison

The maximum BKMS drawdown since its inception was -0.87%, smaller than the maximum EIPI drawdown of -12.33%. Use the drawdown chart below to compare losses from any high point for BKMS and EIPI.

Drawdown Indicators

	BKMS	EIPI	Difference
Max Drawdown Largest peak-to-trough decline	-0.87%	-12.33%	+11.46%
Max Drawdown (1Y) Largest decline over 1 year	—	-4.77%	—
Current Drawdown Current decline from peak	-0.17%	-1.50%	+1.33%
Average Drawdown Average peak-to-trough decline	-0.25%	-1.70%	+1.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.65%	—

Volatility

Volatility by Period

	BKMS	EIPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.42%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.83%	—
Volatility (1Y) Calculated over the trailing 1-year period	1.30%	10.09%	-8.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.30%	12.99%	-11.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.30%	12.99%	-11.69%

BKMS vs. EIPI - Expense Ratio Comparison

BKMS has a 0.35% expense ratio, which is lower than EIPI's 1.11% expense ratio.

Dividends

BKMS vs. EIPI - Dividend Comparison

BKMS's dividend yield for the trailing twelve months is around 1.67%, less than EIPI's 6.73% yield.

Position	TTM	2025	2024
BKMS BNY Mellon Municipal Short Duration ETF	1.67%	0.00%	0.00%
EIPI FT Energy Income Partners Enhanced Income ETF	6.73%	9.71%	6.31%

Frequently Asked Questions

Can I hold both BKMS and EIPI in my portfolio?

BKMS and EIPI have a correlation of -0.21, 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 EIPI?

On fees, BKMS is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BKMS or EIPI?

BKMS is cheaper with a 0.35% expense ratio, compared with 1.11% for EIPI.

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

EIPI has the higher dividend yield at 6.73%, compared with 1.67% for BKMS.

What is the main difference between BKMS and EIPI?

BKMS is categorized as Municipal Bonds, while EIPI is Derivative Income. They also come from different issuers: BNY Mellon and First Trust. Their fees differ too: 0.35% for BKMS and 1.11% for EIPI.