BMOP vs. PIT

Last updated Jun 4, 2026

BMOP (BNY Mellon Municipal Opportunities ETF) and PIT (VanEck Commodity Strategy ETF) are both exchange-traded funds - BMOP is a Municipal Bonds fund actively managed by BNY Mellon, while PIT is a Commodities fund actively managed by VanEck. Both are actively managed. At a correlation of -0.38, they often move in opposite directions. BMOP charges 0.54%/yr vs 0.55%/yr for PIT.

Performance

BMOP vs. PIT - Performance Comparison

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

Returns By Period

BMOP

• 1D: -0.07%
• 1M: 0.84%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PIT

• 1D: 0.58%
• 1M: -2.84%
• YTD: 41.36%
• 6M: 42.58%
• 1Y: 62.93%
• 3Y*: 24.30%
• 5Y*: —
• 10Y*: —

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

BMOP vs. PIT - Yearly Performance Comparison

	2026 (YTD)
BMOP BNY Mellon Municipal Opportunities ETF	1.37%
PIT VanEck Commodity Strategy ETF	34.72%

Correlation

The correlation between BMOP and PIT is -0.38, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 13, 2026	-0.38

Return for Risk

BMOP vs. PIT — Risk / Return Rank

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

PIT

PIT Risk / Return Rank: 87
PIT Sharpe Ratio Rank: 88
PIT Sortino Ratio Rank: 77
PIT Omega Ratio Rank: 84
PIT Calmar Ratio Rank: 93
PIT Martin Ratio Rank: 92

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. PIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Municipal Opportunities ETF (BMOP) and VanEck Commodity Strategy ETF (PIT). 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.

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

Sharpe Ratios by Period

	BMOP	PIT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.97	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.96	1.07	-0.12

Drawdowns

BMOP vs. PIT - Drawdown Comparison

The maximum BMOP drawdown since its inception was -2.80%, smaller than the maximum PIT drawdown of -12.27%. Use the drawdown chart below to compare losses from any high point for BMOP and PIT.

Drawdown Indicators

	BMOP	PIT	Difference
Max Drawdown Largest peak-to-trough decline	-2.80%	-12.27%	+9.47%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.27%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-12.27%	—
Current Drawdown Current decline from peak	-0.09%	-4.56%	+4.47%
Average Drawdown Average peak-to-trough decline	-0.82%	-3.99%	+3.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.71%	—

Volatility

Volatility by Period

	BMOP	PIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.08%	—
Volatility (6M) Calculated over the trailing 6-month period	—	19.02%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.75%	21.30%	-17.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.75%	17.47%	-13.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.75%	17.47%	-13.72%

BMOP vs. PIT - Expense Ratio Comparison

BMOP has a 0.54% expense ratio, which is lower than PIT's 0.55% expense ratio.

Dividends

BMOP vs. PIT - Dividend Comparison

BMOP's dividend yield for the trailing twelve months is around 1.20%, less than PIT's 6.31% yield.

Position	TTM	2025	2024	2023
BMOP BNY Mellon Municipal Opportunities ETF	1.20%	0.00%	0.00%	0.00%
PIT VanEck Commodity Strategy ETF	6.31%	8.92%	3.59%	6.44%

Frequently Asked Questions

Can I hold both BMOP and PIT in my portfolio?

BMOP and PIT have a correlation of -0.38, 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 PIT?

On fees, BMOP is cheaper at 0.54% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BMOP or PIT?

BMOP is cheaper with a 0.54% expense ratio, compared with 0.55% for PIT.

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

PIT has the higher dividend yield at 6.31%, compared with 1.20% for BMOP.

What is the main difference between BMOP and PIT?

BMOP is categorized as Municipal Bonds, while PIT is Commodities. They also come from different issuers: BNY Mellon and VanEck. Their fees differ too: 0.54% for BMOP and 0.55% for PIT.