EVSB vs. BKUI

Last updated Jun 4, 2026

EVSB (Eaton Vance Ultra-Short Income ETF) and BKUI (BNY Mellon Ultra Short Income ETF) are both Ultrashort Bond funds. Both are actively managed. Over the past year, EVSB returned 4.71% vs 4.32% for BKUI. At a 0.32 correlation, their price movements are largely independent. EVSB charges 0.17%/yr vs 0.12%/yr for BKUI.

Performance

EVSB vs. BKUI - Performance Comparison

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

Returns By Period

In the year-to-date period, EVSB achieves a 1.66% return, which is significantly higher than BKUI's 1.42% return.

EVSB

• 1D: -0.01%
• 1M: 0.40%
• YTD: 1.66%
• 6M: 2.00%
• 1Y: 4.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BKUI

• 1D: -0.01%
• 1M: 0.33%
• YTD: 1.42%
• 6M: 1.74%
• 1Y: 4.32%
• 3Y*: 5.21%
• 5Y*: —
• 10Y*: —

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

EVSB vs. BKUI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EVSB Eaton Vance Ultra-Short Income ETF	1.66%	5.12%	6.04%	1.84%
BKUI BNY Mellon Ultra Short Income ETF	1.42%	4.93%	5.50%	1.82%

Correlation

The correlation between EVSB and BKUI is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (All Time) Calculated using the full available price history since Oct 20, 2023	0.32

The correlation between EVSB and BKUI shifts across timeframes, from 0.22 (1 year) to 0.32 (all time), reflecting how their relationship changes across market environments.

Return for Risk

EVSB vs. BKUI — Risk / Return Rank

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

EVSB

EVSB Risk / Return Rank: 99
EVSB Sharpe Ratio Rank: 98
EVSB Sortino Ratio Rank: 99
EVSB Omega Ratio Rank: 99
EVSB Calmar Ratio Rank: 98
EVSB Martin Ratio Rank: 99

BKUI

BKUI Risk / Return Rank: 99
BKUI Sharpe Ratio Rank: 99
BKUI Sortino Ratio Rank: 100
BKUI Omega Ratio Rank: 100
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.

EVSB vs. BKUI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Ultra-Short Income ETF (EVSB) 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.

	EVSB	BKUI	Difference
Sharpe ratio: Return per unit of total volatility	6.11	10.52	-4.41
Sortino ratio: Return per unit of downside risk	10.72	25.25	-14.53
Omega ratio: Gain probability vs. loss probability	2.76	6.02	-3.26
Calmar ratio: Return relative to maximum drawdown	18.60	32.56	-13.95
Martin ratio: Return relative to average drawdown	109.03	230.94	-121.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EVSB vs. BKUI - Sharpe Ratio Comparison

The current EVSB Sharpe Ratio is 6.11, which is lower than the BKUI Sharpe Ratio of 10.52. The chart below compares the historical Sharpe Ratios of EVSB and BKUI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EVSB	BKUI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	6.11	10.52	-4.41
Sharpe Ratio (All Time) Calculated using the full available price history	6.94	6.08	+0.86

Drawdowns

EVSB vs. BKUI - Drawdown Comparison

The maximum EVSB drawdown since its inception was -0.31%, smaller than the maximum BKUI drawdown of -1.72%. Use the drawdown chart below to compare losses from any high point for EVSB and BKUI.

Drawdown Indicators

	EVSB	BKUI	Difference
Max Drawdown Largest peak-to-trough decline	-0.31%	-1.72%	+1.41%
Max Drawdown (1Y) Largest decline over 1 year	-0.25%	-0.13%	-0.12%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.25%	—
Current Drawdown Current decline from peak	-0.05%	-0.01%	-0.04%
Average Drawdown Average peak-to-trough decline	-0.02%	-0.27%	+0.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.04%	0.02%	+0.02%

Volatility

EVSB vs. BKUI - Volatility Comparison

Eaton Vance Ultra-Short Income ETF (EVSB) has a higher volatility of 0.19% compared to BNY Mellon Ultra Short Income ETF (BKUI) at 0.15%. This indicates that EVSB'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.

Volatility by Period

	EVSB	BKUI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.19%	0.15%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	0.51%	0.31%	+0.20%
Volatility (1Y) Calculated over the trailing 1-year period	0.77%	0.41%	+0.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.82%	0.59%	+0.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.82%	0.59%	+0.23%

EVSB vs. BKUI - Expense Ratio Comparison

EVSB has a 0.17% expense ratio, which is higher than BKUI's 0.12% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

EVSB vs. BKUI - Dividend Comparison

EVSB's dividend yield for the trailing twelve months is around 4.63%, more than BKUI's 4.21% yield.

Position	TTM	2025	2024	2023	2022	2021
BKUI BNY Mellon Ultra Short Income ETF	4.21%	4.48%	5.11%	4.29%	1.82%	0.22%
EVSB Eaton Vance Ultra-Short Income ETF	4.63%	4.63%	5.18%	1.21%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EVSB and BKUI in my portfolio?

EVSB and BKUI have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EVSB or BKUI?

EVSB has higher volatility (0.19%) compared to BKUI (0.15%). In terms of maximum drawdown, EVSB dropped -0.31% vs BKUI's -1.72%.

Which ETF is better, EVSB or BKUI?

On 1-year performance, EVSB leads with 4.71% vs 4.32% for BKUI. On fees, BKUI is cheaper at 0.12% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EVSB or BKUI?

Over the 1-year period, EVSB has performed better with a 4.71% return vs 4.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EVSB or BKUI?

BKUI is cheaper with a 0.12% expense ratio, compared with 0.17% for EVSB.

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

EVSB has the higher dividend yield at 4.63%, compared with 4.21% for BKUI.

What is the main difference between EVSB and BKUI?

They also come from different issuers: Eaton Vance and BNY Mellon. Their fees differ too: 0.17% for EVSB and 0.12% for BKUI.

Which has better risk-adjusted returns?

BKUI currently has the higher Sharpe Ratio (10.52 vs 6.11), 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.