BKUI vs. BKHY

Last updated Jun 4, 2026

BKUI (BNY Mellon Ultra Short Income ETF) and BKHY (BNY Mellon High Yield Beta ETF) are both exchange-traded funds - BKUI is a Ultrashort Bond fund actively managed by BNY Mellon, while BKHY is a High Yield Bonds fund tracking the Bloomberg US Corporate High Yield Index. BKUI is actively managed, while BKHY is passively managed. Over the past 3 years, BKUI returned 5.21%/yr vs 8.83%/yr for BKHY. At a 0.31 correlation, their price movements are largely independent. BKUI charges 0.12%/yr vs 0.22%/yr for BKHY.

Performance

BKUI vs. BKHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon Ultra Short Income ETF (BKUI) and BNY Mellon High Yield Beta ETF (BKHY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BKUI achieves a 1.42% return, which is significantly lower than BKHY's 1.73% return.

BKUI

• 1D: -0.01%
• 1M: 0.33%
• YTD: 1.42%
• 6M: 1.74%
• 1Y: 4.32%
• 3Y*: 5.21%
• 5Y*: —
• 10Y*: —

BKHY

• 1D: -0.26%
• 1M: 0.52%
• YTD: 1.73%
• 6M: 1.94%
• 1Y: 7.29%
• 3Y*: 8.83%
• 5Y*: 4.17%
• 10Y*: —

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

BKUI vs. BKHY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BKUI BNY Mellon Ultra Short Income ETF	1.42%	4.93%	5.50%	5.75%	-0.08%	-0.26%
BKHY BNY Mellon High Yield Beta ETF	1.73%	8.48%	8.37%	12.40%	-10.97%	1.55%

Correlation

The correlation between BKUI and BKHY is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (All Time) Calculated using the full available price history since Aug 12, 2021	0.31

Return for Risk

BKUI vs. BKHY — 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

BKHY

BKHY Risk / Return Rank: 63
BKHY Sharpe Ratio Rank: 58
BKHY Sortino Ratio Rank: 64
BKHY Omega Ratio Rank: 65
BKHY Calmar Ratio Rank: 58
BKHY Martin Ratio Rank: 71

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.

BKUI vs. BKHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Ultra Short Income ETF (BKUI) and BNY Mellon High Yield Beta ETF (BKHY). 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.

	BKUI	BKHY	Difference
Sharpe ratio: Return per unit of total volatility	10.52	1.98	+8.54
Sortino ratio: Return per unit of downside risk	25.25	3.00	+22.25
Omega ratio: Gain probability vs. loss probability	6.02	1.40	+4.63
Calmar ratio: Return relative to maximum drawdown	32.56	2.90	+29.66
Martin ratio: Return relative to average drawdown	230.94	13.31	+217.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BKUI vs. BKHY - Sharpe Ratio Comparison

The current BKUI Sharpe Ratio is 10.52, which is higher than the BKHY Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of BKUI and BKHY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BKUI	BKHY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	10.52	1.98	+8.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.55	—
Sharpe Ratio (All Time) Calculated using the full available price history	6.08	0.90	+5.18

Drawdowns

BKUI vs. BKHY - Drawdown Comparison

The maximum BKUI drawdown since its inception was -1.72%, smaller than the maximum BKHY drawdown of -15.89%. Use the drawdown chart below to compare losses from any high point for BKUI and BKHY.

Drawdown Indicators

	BKUI	BKHY	Difference
Max Drawdown Largest peak-to-trough decline	-1.72%	-15.89%	+14.17%
Max Drawdown (1Y) Largest decline over 1 year	-0.13%	-2.53%	+2.40%
Max Drawdown (3Y) Largest decline over 3 years	-0.25%	-4.87%	+4.62%
Max Drawdown (5Y) Largest decline over 5 years	—	-15.89%	—
Current Drawdown Current decline from peak	-0.01%	-0.26%	+0.25%
Average Drawdown Average peak-to-trough decline	-0.27%	-2.97%	+2.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.02%	0.55%	-0.53%

Volatility

BKUI vs. BKHY - Volatility Comparison

The current volatility for BNY Mellon Ultra Short Income ETF (BKUI) is 0.15%, while BNY Mellon High Yield Beta ETF (BKHY) has a volatility of 1.12%. This indicates that BKUI experiences smaller price fluctuations and is considered to be less risky than BKHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BKUI	BKHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.15%	1.12%	-0.97%
Volatility (6M) Calculated over the trailing 6-month period	0.31%	2.97%	-2.66%
Volatility (1Y) Calculated over the trailing 1-year period	0.41%	3.69%	-3.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.59%	7.58%	-6.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.59%	7.37%	-6.78%

BKUI vs. BKHY - Expense Ratio Comparison

BKUI has a 0.12% expense ratio, which is lower than BKHY's 0.22% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

BKUI vs. BKHY - Dividend Comparison

BKUI's dividend yield for the trailing twelve months is around 4.21%, less than BKHY's 7.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
BKHY BNY Mellon High Yield Beta ETF	7.46%	7.33%	7.34%	8.67%	6.59%	6.78%	4.65%
BKUI BNY Mellon Ultra Short Income ETF	4.21%	4.48%	5.11%	4.29%	1.82%	0.22%	0.00%

Frequently Asked Questions

Can I hold both BKUI and BKHY in my portfolio?

BKUI and BKHY have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BKUI or BKHY?

BKHY has higher volatility (1.12%) compared to BKUI (0.15%). In terms of maximum drawdown, BKUI dropped -1.72% vs BKHY's -15.89%.

Which ETF is better, BKUI or BKHY?

On 3-year performance, BKHY leads with 8.83% vs 5.21% for BKUI. On fees, BKUI is cheaper at 0.12% per year. On volatility, BKUI has been the lower-risk option at 0.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BKUI or BKHY?

Over the 3-year period, BKHY has performed better with a 8.83% return vs 5.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BKUI or BKHY?

BKUI is cheaper with a 0.12% expense ratio, compared with 0.22% for BKHY.

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

BKHY has the higher dividend yield at 7.46%, compared with 4.21% for BKUI.

What is the main difference between BKUI and BKHY?

BKUI is categorized as Ultrashort Bond, while BKHY is High Yield Bonds. Their fees differ too: 0.12% for BKUI and 0.22% for BKHY.

Which has better risk-adjusted returns?

BKUI currently has the higher Sharpe Ratio (10.52 vs 1.98), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.