EMLP vs. BKUI
EMLP (First Trust North American Energy Infrastructure Fund) and BKUI (BNY Mellon Ultra Short Income ETF) are both exchange-traded funds - EMLP is a MLPs fund actively managed by First Trust, while BKUI is a Ultrashort Bond fund actively managed by BNY Mellon. Both are actively managed. Over the past 3 years, EMLP returned 21.80%/yr vs 5.11%/yr for BKUI. At a 0.06 correlation, their price movements are largely independent. EMLP charges 0.96%/yr vs 0.12%/yr for BKUI.
Performance
EMLP vs. BKUI - Performance Comparison
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Returns By Period
In the year-to-date period, EMLP achieves a 14.75% return, which is significantly higher than BKUI's 1.49% return.
EMLP
- 1D
- 0.47%
- 1M
- -3.16%
- YTD
- 14.75%
- 6M
- 15.27%
- 1Y
- 19.48%
- 3Y*
- 21.80%
- 5Y*
- 15.66%
- 10Y*
- 10.13%
BKUI
- 1D
- -0.01%
- 1M
- 0.25%
- YTD
- 1.49%
- 6M
- 1.60%
- 1Y
- 4.12%
- 3Y*
- 5.11%
- 5Y*
- —
- 10Y*
- —
EMLP vs. BKUI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EMLP First Trust North American Energy Infrastructure Fund | 14.75% | 9.67% | 33.39% | 8.05% | 10.39% | 3.71% |
BKUI BNY Mellon Ultra Short Income ETF | 1.49% | 4.93% | 5.50% | 5.75% | -0.08% | -0.26% |
Correlation
The correlation between EMLP and BKUI is -0.13, 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 (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Aug 11, 2021 | 0.06 |
The correlation between EMLP and BKUI shifts across timeframes, from -0.13 (1 year) to 0.06 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EMLP vs. BKUI — Risk / Return Rank
EMLP
BKUI
EMLP vs. BKUI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust North American Energy Infrastructure Fund (EMLP) 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.
| EMLP | BKUI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -7.93 | ||
| Sortino ratioReturn per unit of downside risk | -19.58 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 5.43 | -4.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.96 | 31.06 | -27.10 |
| Martin ratioReturn relative to average drawdown | 11.58 | 211.18 | -199.60 |
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Drawdowns
EMLP vs. BKUI - Drawdown Comparison
The maximum EMLP drawdown since its inception was -43.61%, which is greater than BKUI's maximum drawdown of -1.72%. Use the drawdown chart below to compare losses from any high point for EMLP and BKUI.
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Drawdown Indicators
| EMLP | BKUI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.61% | -1.72% | -41.89% |
Max Drawdown (1Y)Largest decline over 1 year | -4.94% | -0.13% | -4.81% |
Max Drawdown (3Y)Largest decline over 3 years | -11.47% | -0.25% | -11.22% |
Max Drawdown (5Y)Largest decline over 5 years | -14.59% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -43.61% | — | — |
Current DrawdownCurrent decline from peak | -3.51% | -0.05% | -3.46% |
Average DrawdownAverage peak-to-trough decline | -5.75% | -0.27% | -5.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.69% | 0.02% | +1.67% |
Volatility
EMLP vs. BKUI - Volatility Comparison
First Trust North American Energy Infrastructure Fund (EMLP) has a higher volatility of 3.42% compared to BNY Mellon Ultra Short Income ETF (BKUI) at 0.17%. This indicates that EMLP's price experiences larger fluctuations and is considered to be riskier than BKUI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMLP | BKUI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.42% | 0.17% | +3.25% |
Volatility (6M)Calculated over the trailing 6-month period | 7.89% | 0.33% | +7.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.92% | 0.42% | +9.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.48% | 0.59% | +13.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.69% | 0.59% | +17.10% |
EMLP vs. BKUI - Expense Ratio Comparison
EMLP has a 0.96% expense ratio, which is higher than BKUI's 0.12% expense ratio.
Dividends
EMLP vs. BKUI - Dividend Comparison
EMLP's dividend yield for the trailing twelve months is around 2.79%, less than BKUI's 4.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BKUI BNY Mellon Ultra Short Income ETF | 4.21% | 4.48% | 5.11% | 4.29% | 1.82% | 0.22% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EMLP First Trust North American Energy Infrastructure Fund | 2.79% | 3.18% | 3.19% | 3.92% | 3.15% | 3.29% | 4.70% | 3.71% | 4.71% | 3.80% | 3.62% | 4.63% |
Frequently Asked Questions
EMLP and BKUI have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMLP has higher volatility (3.42%) compared to BKUI (0.17%). In terms of maximum drawdown, EMLP dropped -43.61% vs BKUI's -1.72%.
On 3-year performance, EMLP leads with 21.80% vs 5.11% for BKUI. On fees, BKUI is cheaper at 0.12% per year. On volatility, BKUI has been the lower-risk option at 0.17%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, EMLP has performed better with a 21.80% return vs 5.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BKUI is cheaper with a 0.12% expense ratio, compared with 0.96% for EMLP.
BKUI has the higher dividend yield at 4.21%, compared with 2.79% for EMLP.
EMLP is categorized as MLPs, while BKUI is Ultrashort Bond. They also come from different issuers: First Trust and BNY Mellon. Their fees differ too: 0.96% for EMLP and 0.12% for BKUI.
BKUI currently has the higher Sharpe Ratio (9.90 vs 1.98), 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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