BKMS vs. THYM

Last updated Jun 4, 2026

BKMS (BNY Mellon Municipal Short Duration ETF) and THYM (T. Rowe Price High Income Municipal ETF) are both exchange-traded funds - BKMS 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 0.42 correlation, their price movements are largely independent. BKMS charges 0.35%/yr vs 0.32%/yr for THYM.

Performance

BKMS vs. THYM - Performance Comparison

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

Returns By Period

BKMS

• 1D: 0.04%
• 1M: 0.26%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

THYM

• 1D: 0.36%
• 1M: 1.53%
• YTD: 3.70%
• 6M: 4.04%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BKMS vs. THYM - Yearly Performance Comparison

	2026 (YTD)
BKMS BNY Mellon Municipal Short Duration ETF	0.58%
THYM T. Rowe Price High Income Municipal ETF	2.94%

Correlation

The correlation between BKMS and THYM is 0.42, 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	0.42

Return for Risk

BKMS vs. THYM - Risk-Adjusted Trends Comparison

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

	BKMS	THYM	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.20	1.77	-0.57

Drawdowns

BKMS vs. THYM - Drawdown Comparison

The maximum BKMS drawdown since its inception was -0.87%, smaller than the maximum THYM drawdown of -2.93%. Use the drawdown chart below to compare losses from any high point for BKMS and THYM.

Drawdown Indicators

	BKMS	THYM	Difference
Max Drawdown Largest peak-to-trough decline	-0.87%	-2.93%	+2.06%
Current Drawdown Current decline from peak	-0.13%	0.00%	-0.13%
Average Drawdown Average peak-to-trough decline	-0.29%	-0.49%	+0.20%

Volatility

Volatility by Period

	BKMS	THYM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	1.25%	4.35%	-3.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.25%	4.35%	-3.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.25%	4.35%	-3.10%

BKMS vs. THYM - Expense Ratio Comparison

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

Dividends

BKMS vs. THYM - Dividend Comparison

BKMS's dividend yield for the trailing twelve months is around 1.11%, less than THYM's 2.18% yield.

Position	TTM	2025
BKMS BNY Mellon Municipal Short Duration ETF	1.11%	0.00%
THYM T. Rowe Price High Income Municipal ETF	2.18%	0.37%

Frequently Asked Questions

Can I hold both BKMS and THYM in my portfolio?

BKMS and THYM have a correlation of 0.42, 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 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, BKMS or THYM?

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

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

THYM has the higher dividend yield at 2.18%, compared with 1.11% for BKMS.

What is the main difference between BKMS and THYM?

BKMS 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 BKMS and 0.32% for THYM.