BKUI vs. ERX
BKUI (BNY Mellon Ultra Short Income ETF) and ERX (Direxion Daily Energy Bull 2X Shares) are both exchange-traded funds - BKUI is a Ultrashort Bond fund actively managed by BNY Mellon, while ERX is a Leveraged Equities fund tracking the Energy Select Sector Index (300%). BKUI is actively managed, while ERX is passively managed. Over the past 3 years, BKUI returned 5.21%/yr vs 23.69%/yr for ERX. At a correlation of -0.10, they often move in opposite directions. BKUI charges 0.12%/yr vs 1.09%/yr for ERX.
Performance
BKUI vs. ERX - Performance Comparison
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Returns By Period
In the year-to-date period, BKUI achieves a 1.42% return, which is significantly lower than ERX's 66.93% return.
BKUI
- 1D
- -0.01%
- 1M
- 0.33%
- YTD
- 1.42%
- 6M
- 1.74%
- 1Y
- 4.32%
- 3Y*
- 5.21%
- 5Y*
- —
- 10Y*
- —
ERX
- 1D
- 2.68%
- 1M
- -3.38%
- YTD
- 66.93%
- 6M
- 59.74%
- 1Y
- 90.37%
- 3Y*
- 23.69%
- 5Y*
- 28.75%
- 10Y*
- -8.79%
BKUI vs. ERX - 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% |
ERX Direxion Daily Energy Bull 2X Shares | 66.93% | 2.79% | 1.09% | -12.26% | 130.58% | 24.85% |
Correlation
The correlation between BKUI and ERX is -0.29, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.14 |
Correlation (All Time) Calculated using the full available price history since Aug 12, 2021 | -0.10 |
The correlation between BKUI and ERX shifts across timeframes, from -0.29 (1 year) to -0.10 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BKUI vs. ERX — Risk / Return Rank
BKUI
ERX
BKUI vs. ERX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Ultra Short Income ETF (BKUI) and Direxion Daily Energy Bull 2X Shares (ERX). 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 | ERX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +8.31 | ||
| Sortino ratioReturn per unit of downside risk | +22.63 | ||
| Omega ratioGain probability vs. loss probability | 6.02 | 1.32 | +4.70 |
| Calmar ratioReturn relative to maximum drawdown | 32.56 | 3.89 | +28.66 |
| Martin ratioReturn relative to average drawdown | 230.94 | 10.60 | +220.35 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BKUI | ERX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 10.52 | 2.21 | +8.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.56 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.13 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 6.08 | -0.09 | +6.17 |
Drawdowns
BKUI vs. ERX - Drawdown Comparison
The maximum BKUI drawdown since its inception was -1.72%, smaller than the maximum ERX drawdown of -99.54%. Use the drawdown chart below to compare losses from any high point for BKUI and ERX.
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Drawdown Indicators
| BKUI | ERX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.72% | -99.54% | +97.82% |
Max Drawdown (1Y)Largest decline over 1 year | -0.13% | -23.34% | +23.21% |
Max Drawdown (3Y)Largest decline over 3 years | -0.25% | -42.34% | +42.09% |
Max Drawdown (5Y)Largest decline over 5 years | — | -46.90% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -98.59% | — |
Current DrawdownCurrent decline from peak | -0.01% | -91.57% | +91.56% |
Average DrawdownAverage peak-to-trough decline | -0.27% | -67.02% | +66.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 8.57% | -8.55% |
Volatility
BKUI vs. ERX - Volatility Comparison
The current volatility for BNY Mellon Ultra Short Income ETF (BKUI) is 0.15%, while Direxion Daily Energy Bull 2X Shares (ERX) has a volatility of 16.49%. This indicates that BKUI experiences smaller price fluctuations and is considered to be less risky than ERX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BKUI | ERX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.15% | 16.49% | -16.34% |
Volatility (6M)Calculated over the trailing 6-month period | 0.31% | 33.45% | -33.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.41% | 41.14% | -40.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.59% | 51.98% | -51.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.59% | 69.18% | -68.59% |
BKUI vs. ERX - Expense Ratio Comparison
BKUI has a 0.12% expense ratio, which is lower than ERX's 1.09% expense ratio.
Dividends
BKUI vs. ERX - Dividend Comparison
BKUI's dividend yield for the trailing twelve months is around 4.21%, more than ERX's 1.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BKUI BNY Mellon Ultra Short Income ETF | 4.21% | 4.48% | 5.11% | 4.29% | 1.82% | 0.22% | 0.00% | 0.00% | 0.00% | 0.00% |
ERX Direxion Daily Energy Bull 2X Shares | 1.61% | 2.54% | 2.94% | 3.17% | 2.23% | 2.16% | 2.35% | 1.56% | 3.10% | 0.85% |
Frequently Asked Questions
BKUI and ERX have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ERX has higher volatility (16.49%) compared to BKUI (0.15%). In terms of maximum drawdown, BKUI dropped -1.72% vs ERX's -99.54%.
On 3-year performance, ERX leads with 23.69% 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.
Over the 3-year period, ERX has performed better with a 23.69% return vs 5.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BKUI is cheaper with a 0.12% expense ratio, compared with 1.09% for ERX.
BKUI has the higher dividend yield at 4.21%, compared with 1.61% for ERX.
BKUI is categorized as Ultrashort Bond, while ERX is Leveraged Equities. They also come from different issuers: BNY Mellon and Direxion. Their fees differ too: 0.12% for BKUI and 1.09% for ERX.
BKUI currently has the higher Sharpe Ratio (10.52 vs 2.21), 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.
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