BPAY vs. PMMF
BPAY (BlackRock Future Financial and Technology ETF) and PMMF (iShares Prime Money Market ETF) are both exchange-traded funds - BPAY is a Financials Equities fund actively managed by BlackRock, while PMMF is a Money Market fund actively managed by BlackRock. Both are actively managed. Over the past year, BPAY returned -17.22% vs 3.96% for PMMF. At a 0.05 correlation, their price movements are largely independent. BPAY charges 0.70%/yr vs 0.20%/yr for PMMF.
Performance
BPAY vs. PMMF - Performance Comparison
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Returns By Period
In the year-to-date period, BPAY achieves a -9.13% return, which is significantly lower than PMMF's 1.74% return.
BPAY
- 1D
- -0.22%
- 1M
- 1.05%
- YTD
- -9.13%
- 6M
- -11.58%
- 1Y
- -17.22%
- 3Y*
- 9.60%
- 5Y*
- —
- 10Y*
- —
PMMF
- 1D
- 0.00%
- 1M
- 0.28%
- YTD
- 1.74%
- 6M
- 1.81%
- 1Y
- 3.96%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BPAY vs. PMMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BPAY BlackRock Future Financial and Technology ETF | -9.13% | 1.98% |
PMMF iShares Prime Money Market ETF | 1.74% | 3.75% |
Correlation
The correlation between BPAY and PMMF is 0.09, 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 (1Y) Calculated over the trailing 1-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Feb 6, 2025 | 0.05 |
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Return for Risk
BPAY vs. PMMF — Risk / Return Rank
BPAY
PMMF
BPAY vs. PMMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Future Financial and Technology ETF (BPAY) and iShares Prime Money Market ETF (PMMF). 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.
| BPAY | PMMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -20.07 | ||
| Sortino ratioReturn per unit of downside risk | -92.47 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 34.81 | -33.90 |
| Calmar ratioReturn relative to maximum drawdown | -0.51 | 159.61 | -160.13 |
| Martin ratioReturn relative to average drawdown | -0.96 | 1,435.26 | -1,436.22 |
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Drawdowns
BPAY vs. PMMF - Drawdown Comparison
The maximum BPAY drawdown since its inception was -33.62%, which is greater than PMMF's maximum drawdown of -0.13%. Use the drawdown chart below to compare losses from any high point for BPAY and PMMF.
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Drawdown Indicators
| BPAY | PMMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.62% | -0.13% | -33.49% |
Max Drawdown (1Y)Largest decline over 1 year | -33.62% | -0.02% | -33.60% |
Max Drawdown (3Y)Largest decline over 3 years | -33.62% | — | — |
Current DrawdownCurrent decline from peak | -23.23% | 0.00% | -23.23% |
Average DrawdownAverage peak-to-trough decline | -10.75% | -0.00% | -10.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.01% | 0.00% | +18.01% |
Volatility
BPAY vs. PMMF - Volatility Comparison
BlackRock Future Financial and Technology ETF (BPAY) has a higher volatility of 9.69% compared to iShares Prime Money Market ETF (PMMF) at 0.05%. This indicates that BPAY's price experiences larger fluctuations and is considered to be riskier than PMMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BPAY | PMMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.69% | 0.05% | +9.64% |
Volatility (6M)Calculated over the trailing 6-month period | 19.73% | 0.13% | +19.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.85% | 0.20% | +25.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.47% | 0.35% | +24.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.47% | 0.35% | +24.12% |
BPAY vs. PMMF - Expense Ratio Comparison
BPAY has a 0.70% expense ratio, which is higher than PMMF's 0.20% expense ratio.
Dividends
BPAY vs. PMMF - Dividend Comparison
BPAY's dividend yield for the trailing twelve months is around 7.46%, more than PMMF's 4.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BPAY BlackRock Future Financial and Technology ETF | 7.46% | 6.49% | 0.48% | 1.18% | 0.18% |
PMMF iShares Prime Money Market ETF | 4.03% | 3.59% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BPAY and PMMF have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BPAY has higher volatility (9.69%) compared to PMMF (0.05%). In terms of maximum drawdown, BPAY dropped -33.62% vs PMMF's -0.13%.
On 1-year performance, PMMF leads with 3.96% vs -17.22% for BPAY. On fees, PMMF is cheaper at 0.20% per year. On volatility, PMMF has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, PMMF has performed better with a 3.96% return vs -17.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PMMF is cheaper with a 0.20% expense ratio, compared with 0.70% for BPAY.
BPAY has the higher dividend yield at 7.46%, compared with 4.03% for PMMF.
BPAY is categorized as Financials Equities, while PMMF is Money Market. Their fees differ too: 0.70% for BPAY and 0.20% for PMMF.
PMMF currently has the higher Sharpe Ratio (19.40 vs -0.67), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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