BMOP vs. BKUI

Last updated Jun 25, 2026

BMOP (BNY Mellon Municipal Opportunities ETF) and BKUI (BNY Mellon Ultra Short Income ETF) are both exchange-traded funds - BMOP is a Municipal Bonds fund actively managed by BNY Mellon, while BKUI is a Ultrashort Bond fund actively managed by BNY Mellon. Both are actively managed. At a 0.48 correlation, their price movements are largely independent. BMOP charges 0.54%/yr vs 0.12%/yr for BKUI.

Performance

BMOP vs. BKUI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon Municipal Opportunities ETF (BMOP) and BNY Mellon Ultra Short Income ETF (BKUI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BMOP

• 1D: 0.18%
• 1M: 2.01%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BKUI

• 1D: 0.02%
• 1M: 0.32%
• YTD: 1.56%
• 6M: 1.67%
• 1Y: 4.12%
• 3Y*: 5.13%
• 5Y*: —
• 10Y*: —

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

BMOP vs. BKUI - Yearly Performance Comparison

	2026 (YTD)
BMOP BNY Mellon Municipal Opportunities ETF	2.24%
BKUI BNY Mellon Ultra Short Income ETF	1.48%

Correlation

The correlation between BMOP and BKUI is 0.48, 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 Jan 12, 2026	0.48

Return for Risk

BMOP vs. BKUI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BMOP

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

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

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.

BMOP vs. BKUI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Municipal Opportunities ETF (BMOP) and BNY Mellon Ultra Short Income ETF (BKUI). 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	BKUI	Difference
Sharpe ratio: Return per unit of total volatility	—	9.93	—
Sortino ratio: Return per unit of downside risk	—	22.44	—
Omega ratio: Gain probability vs. loss probability	—	5.43	—
Calmar ratio: Return relative to maximum drawdown	—	31.06	—
Martin ratio: Return relative to average drawdown	—	211.18	—

Drawdowns

BMOP vs. BKUI - Drawdown Comparison

The maximum BMOP drawdown since its inception was -2.80%, which is greater than BKUI's maximum drawdown of -1.72%. Use the drawdown chart below to compare losses from any high point for BMOP and BKUI.

Drawdown Indicators

	BMOP	BKUI	Difference
Max Drawdown Largest peak-to-trough decline	-2.80%	-1.72%	-1.08%
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	-0.72%	-0.27%	-0.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.02%	—

Volatility

Volatility by Period

	BMOP	BKUI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.17%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.33%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.61%	0.42%	+3.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.61%	0.59%	+3.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.61%	0.59%	+3.02%

BMOP vs. BKUI - Expense Ratio Comparison

BMOP has a 0.54% expense ratio, which is higher than BKUI's 0.12% expense ratio.

Dividends

BMOP vs. BKUI - Dividend Comparison

BMOP's dividend yield for the trailing twelve months is around 1.19%, less than BKUI's 4.20% yield.

Position	TTM	2025	2024	2023	2022	2021
BKUI BNY Mellon Ultra Short Income ETF	4.20%	4.48%	5.11%	4.29%	1.82%	0.22%
BMOP BNY Mellon Municipal Opportunities ETF	1.19%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BMOP and BKUI in my portfolio?

BMOP and BKUI have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BMOP or BKUI?

On fees, BKUI is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BMOP or BKUI?

BKUI is cheaper with a 0.12% expense ratio, compared with 0.54% for BMOP.

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

BKUI has the higher dividend yield at 4.20%, compared with 1.19% for BMOP.

What is the main difference between BMOP and BKUI?

BMOP is categorized as Municipal Bonds, while BKUI is Ultrashort Bond. Their fees differ too: 0.54% for BMOP and 0.12% for BKUI.