BKUI vs. SPTU

Last updated Jul 15, 2026

BKUI (BNY Mellon Ultra Short Income ETF) and SPTU (State Street SPDR Portfolio Ultra Short T-Bill ETF) are both Ultrashort Bond funds. BKUI is actively managed, while SPTU is passively managed. At a 0.10 correlation, their price movements are largely independent. BKUI charges 0.12%/yr vs 0.05%/yr for SPTU.

Performance

BKUI vs. SPTU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon Ultra Short Income ETF (BKUI) and State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BKUI achieves a 1.73% return, which is significantly lower than SPTU's 1.90% return.

BKUI

• 1D: 0.03%
• 1M: 0.26%
• 6M: 1.61%
• YTD: 1.73%
• 1Y: 4.03%
• 3Y*: 5.08%
• 5Y*: —
• 10Y*: —

SPTU

• 1D: 0.04%
• 1M: 0.30%
• 6M: 1.78%
• YTD: 1.90%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BKUI vs. SPTU - Yearly Performance Comparison

	2026 (YTD)	2025
BKUI BNY Mellon Ultra Short Income ETF	1.73%	1.01%
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	1.90%	0.87%

Correlation

The correlation between BKUI and SPTU is 0.10, 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 Oct 8, 2025	0.10

Return for Risk

BKUI vs. SPTU — 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: 99
BKUI Omega Ratio Rank: 99
BKUI Calmar Ratio Rank: 99
BKUI Martin Ratio Rank: 99

SPTU

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. SPTU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Ultra Short Income ETF (BKUI) and State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU). 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	SPTU	Difference
Sharpe ratio: Return per unit of total volatility	9.68	—	—
Sortino ratio: Return per unit of downside risk	21.85	—	—
Omega ratio: Gain probability vs. loss probability	5.23	—	—
Calmar ratio: Return relative to maximum drawdown	30.38	—	—
Martin ratio: Return relative to average drawdown	206.19	—	—

Drawdowns

BKUI vs. SPTU - Drawdown Comparison

The maximum BKUI drawdown since its inception was -1.72%, which is greater than SPTU's maximum drawdown of -0.04%. Use the drawdown chart below to compare losses from any high point for BKUI and SPTU.

Drawdown Indicators

	BKUI	SPTU	Difference
Max Drawdown Largest peak-to-trough decline	-1.72%	-0.04%	-1.68%
Max Drawdown (1Y) Largest decline over 1 year	-0.13%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-0.25%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.26%	-0.00%	-0.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.02%	—	—

Volatility

Volatility by Period

	BKUI	SPTU	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.13%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.33%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	0.42%	0.32%	+0.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.58%	0.32%	+0.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.58%	0.32%	+0.26%

BKUI vs. SPTU - Expense Ratio Comparison

BKUI has a 0.12% expense ratio, which is higher than SPTU's 0.05% 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. SPTU - Dividend Comparison

BKUI's dividend yield for the trailing twelve months is around 4.21%, more than SPTU's 2.66% yield.

Position	TTM	2025	2024	2023	2022	2021
BKUI BNY Mellon Ultra Short Income ETF	4.21%	4.48%	5.11%	4.29%	1.82%	0.22%
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	2.66%	0.89%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BKUI and SPTU in my portfolio?

BKUI and SPTU have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BKUI or SPTU?

On fees, SPTU is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BKUI or SPTU?

SPTU is cheaper with a 0.05% expense ratio, compared with 0.12% for BKUI.

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

BKUI has the higher dividend yield at 4.21%, compared with 2.66% for SPTU.

What is the main difference between BKUI and SPTU?

They also come from different issuers: BNY Mellon and State Street. Their fees differ too: 0.12% for BKUI and 0.05% for SPTU.