MMKT vs. BKUI

Last updated Jun 4, 2026

MMKT (Texas Capital Government Money Market ETF) and BKUI (BNY Mellon Ultra Short Income ETF) are both exchange-traded funds - MMKT is a Money Market fund actively managed by Texas Capital, while BKUI is a Ultrashort Bond fund actively managed by BNY Mellon. Both are actively managed. Over the past year, MMKT returned 3.81% vs 4.32% for BKUI. At a 0.06 correlation, their price movements are largely independent. MMKT charges 0.20%/yr vs 0.12%/yr for BKUI.

Performance

MMKT vs. BKUI - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with MMKT having a 1.44% return and BKUI slightly lower at 1.42%.

MMKT

• 1D: 0.01%
• 1M: 0.28%
• YTD: 1.44%
• 6M: 1.76%
• 1Y: 3.81%
• 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)

MMKT vs. BKUI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MMKT Texas Capital Government Money Market ETF	1.44%	4.13%	1.21%
BKUI BNY Mellon Ultra Short Income ETF	1.42%	4.93%	1.07%

Correlation

The correlation between MMKT and BKUI is -0.01, 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	-0.01
Correlation (All Time) Calculated using the full available price history since Sep 26, 2024	0.06

Return for Risk

MMKT vs. BKUI — Risk / Return Rank

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

MMKT

MMKT Risk / Return Rank: 100
MMKT Sharpe Ratio Rank: 100
MMKT Sortino Ratio Rank: 100
MMKT Omega Ratio Rank: 100
MMKT Calmar Ratio Rank: 100
MMKT Martin Ratio Rank: 100

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.

MMKT vs. BKUI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Texas Capital Government Money Market ETF (MMKT) 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.

	MMKT	BKUI	Difference
Sharpe ratio: Return per unit of total volatility	16.49	10.52	+5.96
Sortino ratio: Return per unit of downside risk	62.61	25.25	+37.36
Omega ratio: Gain probability vs. loss probability	15.14	6.02	+9.12
Calmar ratio: Return relative to maximum drawdown	153.44	32.56	+120.88
Martin ratio: Return relative to average drawdown	910.67	230.94	+679.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MMKT vs. BKUI - Sharpe Ratio Comparison

The current MMKT Sharpe Ratio is 16.49, which is higher than the BKUI Sharpe Ratio of 10.52. The chart below compares the historical Sharpe Ratios of MMKT 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

	MMKT	BKUI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	16.49	10.52	+5.96
Sharpe Ratio (All Time) Calculated using the full available price history	17.60	6.08	+11.52

Drawdowns

MMKT vs. BKUI - Drawdown Comparison

The maximum MMKT drawdown since its inception was -0.04%, smaller than the maximum BKUI drawdown of -1.72%. Use the drawdown chart below to compare losses from any high point for MMKT and BKUI.

Drawdown Indicators

	MMKT	BKUI	Difference
Max Drawdown Largest peak-to-trough decline	-0.04%	-1.72%	+1.68%
Max Drawdown (1Y) Largest decline over 1 year	-0.02%	-0.13%	+0.11%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.25%	—
Current Drawdown Current decline from peak	0.00%	-0.01%	+0.01%
Average Drawdown Average peak-to-trough decline	-0.00%	-0.27%	+0.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	0.02%	-0.02%

Volatility

MMKT vs. BKUI - Volatility Comparison

The current volatility for Texas Capital Government Money Market ETF (MMKT) is 0.05%, while BNY Mellon Ultra Short Income ETF (BKUI) has a volatility of 0.15%. This indicates that MMKT experiences smaller price fluctuations and is considered to be less risky than BKUI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MMKT	BKUI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.05%	0.15%	-0.10%
Volatility (6M) Calculated over the trailing 6-month period	0.13%	0.31%	-0.18%
Volatility (1Y) Calculated over the trailing 1-year period	0.23%	0.41%	-0.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.23%	0.59%	-0.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.23%	0.59%	-0.36%

MMKT vs. BKUI - Expense Ratio Comparison

MMKT has a 0.20% 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

MMKT vs. BKUI - Dividend Comparison

MMKT's dividend yield for the trailing twelve months is around 3.73%, less 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%
MMKT Texas Capital Government Money Market ETF	3.73%	3.98%	1.07%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MMKT and BKUI in my portfolio?

MMKT and BKUI have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MMKT or BKUI?

BKUI has higher volatility (0.15%) compared to MMKT (0.05%). In terms of maximum drawdown, MMKT dropped -0.04% vs BKUI's -1.72%.

Which ETF is better, MMKT or BKUI?

On 1-year performance, BKUI leads with 4.32% vs 3.81% for MMKT. On fees, BKUI is cheaper at 0.12% per year. On volatility, MMKT has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MMKT or BKUI?

Over the 1-year period, BKUI has performed better with a 4.32% return vs 3.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MMKT or BKUI?

BKUI is cheaper with a 0.12% expense ratio, compared with 0.20% for MMKT.

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

BKUI has the higher dividend yield at 4.21%, compared with 3.73% for MMKT.

What is the main difference between MMKT and BKUI?

MMKT is categorized as Money Market, while BKUI is Ultrashort Bond. They also come from different issuers: Texas Capital and BNY Mellon. Their fees differ too: 0.20% for MMKT and 0.12% for BKUI.

Which has better risk-adjusted returns?

MMKT currently has the higher Sharpe Ratio (16.49 vs 10.52), 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.