BKUI vs. ICSH
BKUI (BNY Mellon Ultra Short Income ETF) and ICSH (iShares Ultra Short Duration Bond Active ETF) are both Ultrashort Bond funds. Both are actively managed. Over the past 3 years, BKUI returned 5.11%/yr vs 5.09%/yr for ICSH. A 0.51 correlation means they provide meaningful diversification when combined. BKUI charges 0.12%/yr vs 0.08%/yr for ICSH.
Performance
BKUI vs. ICSH - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with BKUI having a 1.49% return and ICSH slightly higher at 1.51%.
BKUI
- 1D
- -0.01%
- 1M
- 0.25%
- YTD
- 1.49%
- 6M
- 1.60%
- 1Y
- 4.12%
- 3Y*
- 5.11%
- 5Y*
- —
- 10Y*
- —
ICSH
- 1D
- -0.04%
- 1M
- 0.20%
- YTD
- 1.51%
- 6M
- 1.67%
- 1Y
- 4.20%
- 3Y*
- 5.09%
- 5Y*
- 3.69%
- 10Y*
- 2.77%
BKUI vs. ICSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BKUI BNY Mellon Ultra Short Income ETF | 1.49% | 4.93% | 5.50% | 5.75% | -0.08% | -0.26% |
ICSH iShares Ultra Short Duration Bond Active ETF | 1.51% | 4.96% | 5.52% | 5.58% | 0.97% | -0.06% |
Correlation
The correlation between BKUI and ICSH is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Aug 11, 2021 | 0.51 |
The correlation between BKUI and ICSH has been stable across timeframes, ranging from 0.41 to 0.51 - a consistent structural relationship.
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Return for Risk
BKUI vs. ICSH — Risk / Return Rank
BKUI
ICSH
BKUI vs. ICSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Ultra Short Income ETF (BKUI) and iShares Ultra Short Duration Bond Active ETF (ICSH). 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.
| BKUI | ICSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 5.43 | 5.64 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 31.06 | 42.62 | -11.56 |
| Martin ratioReturn relative to average drawdown | 211.18 | 244.74 | -33.56 |
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Drawdowns
BKUI vs. ICSH - Drawdown Comparison
The maximum BKUI drawdown since its inception was -1.72%, smaller than the maximum ICSH drawdown of -3.94%. Use the drawdown chart below to compare losses from any high point for BKUI and ICSH.
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Drawdown Indicators
| BKUI | ICSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.72% | -3.94% | +2.22% |
Max Drawdown (1Y)Largest decline over 1 year | -0.13% | -0.10% | -0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -0.25% | -0.10% | -0.15% |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.73% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -3.94% | — |
Current DrawdownCurrent decline from peak | -0.05% | -0.09% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -0.27% | -0.08% | -0.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 0.02% | 0.00% |
Volatility
BKUI vs. ICSH - Volatility Comparison
BNY Mellon Ultra Short Income ETF (BKUI) has a higher volatility of 0.17% compared to iShares Ultra Short Duration Bond Active ETF (ICSH) at 0.15%. This indicates that BKUI's price experiences larger fluctuations and is considered to be riskier than ICSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BKUI | ICSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.17% | 0.15% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 0.33% | 0.32% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.42% | 0.41% | +0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.59% | 0.49% | +0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.59% | 1.06% | -0.47% |
BKUI vs. ICSH - Expense Ratio Comparison
BKUI has a 0.12% expense ratio, which is higher than ICSH's 0.08% expense ratio. However, 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. ICSH - Dividend Comparison
BKUI's dividend yield for the trailing twelve months is around 4.21%, less than ICSH's 4.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
ICSH iShares Ultra Short Duration Bond Active ETF | 4.34% | 4.55% | 5.24% | 4.78% | 1.66% | 0.42% | 1.21% | 2.61% | 2.20% | 1.36% | 0.88% | 0.54% |
Frequently Asked Questions
BKUI and ICSH 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.
BKUI has higher volatility (0.17%) compared to ICSH (0.15%). In terms of maximum drawdown, BKUI dropped -1.72% vs ICSH's -3.94%.
On 3-year performance, BKUI leads with 5.11% vs 5.09% for ICSH. On fees, ICSH is cheaper at 0.08% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BKUI has performed better with a 5.11% return vs 5.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ICSH is cheaper with a 0.08% expense ratio, compared with 0.12% for BKUI.
ICSH has the higher dividend yield at 4.34%, compared with 4.21% for BKUI.
They also come from different issuers: BNY Mellon and iShares. Their fees differ too: 0.12% for BKUI and 0.08% for ICSH.
ICSH currently has the higher Sharpe Ratio (10.20 vs 9.90), 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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