RNSIX vs. BKUI

Last updated Jun 4, 2026

RNSIX (RiverNorth Doubleline Strategic Income Fund) and BKUI (BNY Mellon Ultra Short Income ETF) are both funds - RNSIX is a Multisector Bonds fund managed by RiverNorth Funds, while BKUI is a Ultrashort Bond fund actively managed by BNY Mellon. Over the past 3 years, RNSIX returned 7.23%/yr vs 5.21%/yr for BKUI. A 0.55 correlation means they provide meaningful diversification when combined. RNSIX charges 0.87%/yr vs 0.12%/yr for BKUI.

Performance

RNSIX vs. BKUI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in RiverNorth Doubleline Strategic Income Fund (RNSIX) 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, RNSIX achieves a 0.66% return, which is significantly lower than BKUI's 1.42% return.

RNSIX

• 1D: 0.00%
• 1M: 0.31%
• YTD: 0.66%
• 6M: 0.64%
• 1Y: 5.88%
• 3Y*: 7.23%
• 5Y*: 2.37%
• 10Y*: 3.83%

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)

RNSIX vs. BKUI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
RNSIX RiverNorth Doubleline Strategic Income Fund	0.66%	7.59%	7.29%	9.18%	-12.68%	0.34%
BKUI BNY Mellon Ultra Short Income ETF	1.42%	4.93%	5.50%	5.75%	-0.08%	-0.26%

Correlation

The correlation between RNSIX and BKUI is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (All Time) Calculated using the full available price history since Aug 12, 2021	0.55

The correlation between RNSIX and BKUI has been stable across timeframes, ranging from 0.50 to 0.55 - a consistent structural relationship.

Return for Risk

RNSIX vs. BKUI — Risk / Return Rank

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

RNSIX

RNSIX Risk / Return Rank: 54
RNSIX Sharpe Ratio Rank: 51
RNSIX Sortino Ratio Rank: 58
RNSIX Omega Ratio Rank: 57
RNSIX Calmar Ratio Rank: 56
RNSIX Martin Ratio Rank: 49

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.

RNSIX vs. BKUI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for RiverNorth Doubleline Strategic Income Fund (RNSIX) 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.

	RNSIX	BKUI	Difference
Sharpe ratio: Return per unit of total volatility	2.11	10.52	-8.41
Sortino ratio: Return per unit of downside risk	3.19	25.25	-22.05
Omega ratio: Gain probability vs. loss probability	1.42	6.02	-4.60
Calmar ratio: Return relative to maximum drawdown	2.88	32.56	-29.68
Martin ratio: Return relative to average drawdown	10.21	230.94	-220.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RNSIX vs. BKUI - Sharpe Ratio Comparison

The current RNSIX Sharpe Ratio is 2.11, which is lower than the BKUI Sharpe Ratio of 10.52. The chart below compares the historical Sharpe Ratios of RNSIX 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

	RNSIX	BKUI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.11	10.52	-8.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.86	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.23	6.08	-4.86

Drawdowns

RNSIX vs. BKUI - Drawdown Comparison

The maximum RNSIX drawdown since its inception was -16.08%, which is greater than BKUI's maximum drawdown of -1.72%. Use the drawdown chart below to compare losses from any high point for RNSIX and BKUI.

Drawdown Indicators

	RNSIX	BKUI	Difference
Max Drawdown Largest peak-to-trough decline	-16.08%	-1.72%	-14.36%
Max Drawdown (1Y) Largest decline over 1 year	-2.05%	-0.13%	-1.92%
Max Drawdown (3Y) Largest decline over 3 years	-5.14%	-0.25%	-4.89%
Max Drawdown (5Y) Largest decline over 5 years	-16.08%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-16.08%	—	—
Current Drawdown Current decline from peak	-0.44%	-0.01%	-0.43%
Average Drawdown Average peak-to-trough decline	-2.07%	-0.27%	-1.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.58%	0.02%	+0.56%

Volatility

RNSIX vs. BKUI - Volatility Comparison

RiverNorth Doubleline Strategic Income Fund (RNSIX) has a higher volatility of 0.96% compared to BNY Mellon Ultra Short Income ETF (BKUI) at 0.15%. This indicates that RNSIX'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

	RNSIX	BKUI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.96%	0.15%	+0.81%
Volatility (6M) Calculated over the trailing 6-month period	2.02%	0.31%	+1.71%
Volatility (1Y) Calculated over the trailing 1-year period	2.80%	0.41%	+2.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.44%	0.59%	+3.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.48%	0.59%	+3.89%

RNSIX vs. BKUI - Expense Ratio Comparison

RNSIX has a 0.87% expense ratio, which is higher than BKUI's 0.12% expense ratio.

Dividends

RNSIX vs. BKUI - Dividend Comparison

RNSIX's dividend yield for the trailing twelve months is around 6.64%, more 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%
RNSIX RiverNorth Doubleline Strategic Income Fund	6.64%	6.52%	6.37%	5.13%	8.40%	4.20%	4.34%	5.17%	5.45%	5.08%	5.22%	5.83%

Frequently Asked Questions

Can I hold both RNSIX and BKUI in my portfolio?

RNSIX and BKUI have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RNSIX or BKUI?

RNSIX has higher volatility (0.96%) compared to BKUI (0.15%). In terms of maximum drawdown, RNSIX dropped -16.08% vs BKUI's -1.72%.

Which has better risk-adjusted returns?

BKUI currently has the higher Sharpe Ratio (10.52 vs 2.11), 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.