BMOP vs. BKHY
BMOP (BNY Mellon Municipal Opportunities ETF) and BKHY (BNY Mellon High Yield Beta ETF) are both exchange-traded funds - BMOP is a Municipal Bonds fund actively managed by BNY Mellon, while BKHY is a High Yield Bonds fund tracking the Bloomberg US Corporate High Yield Index. BMOP is actively managed, while BKHY is passively managed. Their 0.56 correlation means they have sometimes moved together and sometimes differently. BMOP charges 0.54%/yr vs 0.22%/yr for BKHY.
Performance
BMOP vs. BKHY - Performance Comparison
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Returns By Period
BMOP
- 1D
- 0.20%
- 1M
- -1.61%
- 6M
- 0.59%
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
BKHY
- 1D
- 0.32%
- 1M
- 0.19%
- 6M
- 1.77%
- YTD
- 2.54%
- 1Y
- 5.76%
- 3Y*
- 8.60%
- 5Y*
- 4.07%
- 10Y*
- —
- ALL TIME*
- 6.55%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.29M | $953.81K | $870.21K | |
| $2.29M | $2.06M | $2.59M |
BMOP vs. BKHY - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
BMOP BNY Mellon Municipal Opportunities ETF | 1.01% |
BKHY BNY Mellon High Yield Beta ETF | 2.08% |
Correlation
The correlation between BMOP and BKHY is 0.56, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jan 12, 2026 | 0.56 |
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Return for Risk
BMOP vs. BKHY — Risk / Return Rank
BMOP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BKHY
BMOP vs. BKHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Municipal Opportunities ETF (BMOP) and BNY Mellon High Yield Beta ETF (BKHY). 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.
| BMOP | BKHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.30 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.29 | — |
| Martin ratioReturn relative to average drawdown | — | 10.28 | — |
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Drawdowns
BMOP vs. BKHY - Drawdown Comparison
The maximum BMOP drawdown since its inception was -2.80%, smaller than the maximum BKHY drawdown of -15.89%. Use the drawdown chart below to compare losses from any high point for BMOP and BKHY.
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Drawdown Indicators
| BMOP | BKHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.80% | -15.89% | +13.09% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.53% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -4.87% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.89% | — |
Current DrawdownCurrent decline from peak | -1.61% | 0.00% | -1.61% |
Average DrawdownAverage peak-to-trough decline | -0.74% | -2.90% | +2.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.56% | — |
Volatility
BMOP vs. BKHY - Volatility Comparison
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Volatility by Period
| BMOP | BKHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.89% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 3.11% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.46% | 3.72% | -0.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.46% | 7.59% | -4.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.46% | 7.28% | -3.82% |
BMOP vs. BKHY - Expense Ratio Comparison
BMOP has a 0.54% expense ratio, which is higher than BKHY's 0.22% expense ratio.
Dividends
BMOP vs. BKHY - Dividend Comparison
BMOP's dividend yield for the trailing twelve months is around 1.87%, less than BKHY's 7.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
BKHY BNY Mellon High Yield Beta ETF | 7.41% | 7.33% | 7.34% | 8.67% | 6.59% | 6.78% | 4.65% |
BMOP BNY Mellon Municipal Opportunities ETF | 1.87% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BMOP and BKHY have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BKHY is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BKHY is cheaper with a 0.22% expense ratio, compared with 0.54% for BMOP.
BKHY has the higher dividend yield at 7.41%, compared with 1.87% for BMOP.
BMOP is categorized as Municipal Bonds, while BKHY is High Yield Bonds. Their fees differ too: 0.54% for BMOP and 0.22% for BKHY.
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