BKUI vs. SPTU
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 0.08 correlation, their price movements are largely independent. BKUI charges 0.12%/yr vs 0.05%/yr for SPTU.
Performance
BKUI vs. SPTU - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with BKUI having a 1.42% return and SPTU slightly higher at 1.48%.
BKUI
- 1D
- -0.01%
- 1M
- 0.33%
- YTD
- 1.42%
- 6M
- 1.74%
- 1Y
- 4.32%
- 3Y*
- 5.21%
- 5Y*
- —
- 10Y*
- —
SPTU
- 1D
- 0.00%
- 1M
- 0.31%
- YTD
- 1.48%
- 6M
- 1.81%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BKUI vs. SPTU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BKUI BNY Mellon Ultra Short Income ETF | 1.42% | 1.00% |
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF | 1.48% | 0.92% |
Correlation
The correlation between BKUI and SPTU is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 9, 2025 | 0.08 |
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Return for Risk
BKUI vs. SPTU — Risk / Return Rank
BKUI
SPTU
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.
| BKUI | SPTU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 6.02 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 32.56 | — | — |
| Martin ratioReturn relative to average drawdown | 230.94 | — | — |
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 | SPTU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 10.52 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 6.08 | 11.82 | -5.74 |
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.
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Drawdown Indicators
| BKUI | SPTU | Difference | |
|---|---|---|---|
Max DrawdownLargest 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 DrawdownCurrent decline from peak | -0.01% | 0.00% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -0.27% | -0.00% | -0.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | — | — |
Volatility
BKUI vs. SPTU - Volatility Comparison
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Volatility by Period
| BKUI | SPTU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.15% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 0.31% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 0.41% | 0.32% | +0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.59% | 0.32% | +0.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.59% | 0.32% | +0.27% |
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 2.36% 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 | 2.36% | 0.89% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BKUI and SPTU have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
SPTU is cheaper with a 0.05% expense ratio, compared with 0.12% for BKUI.
BKUI has the higher dividend yield at 4.21%, compared with 2.36% for 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.
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