BKUI vs. SHV
BKUI (BNY Mellon Ultra Short Income ETF) and SHV (iShares 0-1 Year Treasury Bond ETF) are both exchange-traded funds - BKUI is a Ultrashort Bond fund actively managed by BNY Mellon, while SHV is a Government Bonds fund tracking the ICE Short US Treasury Securities Index. BKUI is actively managed, while SHV is passively managed. Over the past 3 years, BKUI returned 5.21%/yr vs 4.64%/yr for SHV. At a 0.41 correlation, their price movements are largely independent. BKUI charges 0.12%/yr vs 0.15%/yr for SHV.
Performance
BKUI vs. SHV - Performance Comparison
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Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with BKUI at 1.42% and SHV at 1.42%.
BKUI
- 1D
- -0.01%
- 1M
- 0.33%
- YTD
- 1.42%
- 6M
- 1.74%
- 1Y
- 4.32%
- 3Y*
- 5.21%
- 5Y*
- —
- 10Y*
- —
SHV
- 1D
- 0.00%
- 1M
- 0.27%
- YTD
- 1.42%
- 6M
- 1.75%
- 1Y
- 3.90%
- 3Y*
- 4.64%
- 5Y*
- 3.31%
- 10Y*
- 2.23%
BKUI vs. SHV - 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% |
SHV iShares 0-1 Year Treasury Bond ETF | 1.42% | 4.21% | 5.12% | 5.04% | 0.94% | -0.05% |
Correlation
The correlation between BKUI and SHV is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Aug 12, 2021 | 0.41 |
Over the past year, the correlation between BKUI and SHV has dropped to 0.18 - well below their long-term average of 0.41, suggesting their price drivers have been diverging.
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Return for Risk
BKUI vs. SHV — Risk / Return Rank
BKUI
SHV
BKUI vs. SHV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Ultra Short Income ETF (BKUI) and iShares 0-1 Year Treasury Bond ETF (SHV). 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 | SHV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -8.97 | ||
| Sortino ratioReturn per unit of downside risk | -124.30 | ||
| Omega ratioGain probability vs. loss probability | 6.02 | 53.77 | -47.74 |
| Calmar ratioReturn relative to maximum drawdown | 32.56 | 431.38 | -398.82 |
| Martin ratioReturn relative to average drawdown | 230.94 | 2,419.80 | -2,188.86 |
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 | SHV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 10.52 | 19.49 | -8.97 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 11.56 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 8.09 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 6.08 | 4.50 | +1.58 |
Drawdowns
BKUI vs. SHV - Drawdown Comparison
The maximum BKUI drawdown since its inception was -1.72%, which is greater than SHV's maximum drawdown of -0.45%. Use the drawdown chart below to compare losses from any high point for BKUI and SHV.
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Drawdown Indicators
| BKUI | SHV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.72% | -0.45% | -1.27% |
Max Drawdown (1Y)Largest decline over 1 year | -0.13% | -0.01% | -0.12% |
Max Drawdown (3Y)Largest decline over 3 years | -0.25% | -0.03% | -0.22% |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.40% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.45% | — |
Current DrawdownCurrent decline from peak | -0.01% | 0.00% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -0.27% | -0.03% | -0.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 0.00% | +0.02% |
Volatility
BKUI vs. SHV - Volatility Comparison
BNY Mellon Ultra Short Income ETF (BKUI) has a higher volatility of 0.15% compared to iShares 0-1 Year Treasury Bond ETF (SHV) at 0.05%. This indicates that BKUI's price experiences larger fluctuations and is considered to be riskier than SHV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BKUI | SHV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.15% | 0.05% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 0.31% | 0.12% | +0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.41% | 0.20% | +0.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.59% | 0.29% | +0.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.59% | 0.28% | +0.31% |
BKUI vs. SHV - Expense Ratio Comparison
BKUI has a 0.12% expense ratio, which is lower than SHV's 0.15% 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. SHV - Dividend Comparison
BKUI's dividend yield for the trailing twelve months is around 4.21%, more than SHV's 3.83% 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% |
SHV iShares 0-1 Year Treasury Bond ETF | 3.83% | 4.09% | 5.02% | 4.73% | 1.39% | 0.00% | 0.74% | 2.19% | 1.66% | 0.72% | 0.34% | 0.03% |
Frequently Asked Questions
BKUI and SHV have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BKUI has higher volatility (0.15%) compared to SHV (0.05%). In terms of maximum drawdown, BKUI dropped -1.72% vs SHV's -0.45%.
On 3-year performance, BKUI leads with 5.21% vs 4.64% for SHV. On fees, BKUI is cheaper at 0.12% per year. On volatility, SHV has been the lower-risk option at 0.05%. 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 5.21% return vs 4.64%. 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 0.15% for SHV.
BKUI has the higher dividend yield at 4.21%, compared with 3.83% for SHV.
BKUI is categorized as Ultrashort Bond, while SHV is Government Bonds. They also come from different issuers: BNY Mellon and iShares. Their fees differ too: 0.12% for BKUI and 0.15% for SHV.
SHV currently has the higher Sharpe Ratio (19.49 vs 10.52), 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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