BKUI vs VUSB: Grades, Fees and Holdings Compared

BNY Mellon Ultra Short Income ETF

BKUIANYSE Arca

Vanguard Ultra-Short Bond ETF

VUSBACboe

Overlap

No data

Expense ratio

VUSB −0.02pt a year

BKUI0.12%VUSB0.10%

Avg volume · 30D

VUSB 20.7×the volume

BKUI95.1KVUSB1.97M

5Y return · a year

BKUI+3.7%VUSB+3.7%

BKUI vs VUSB Performance

Oct 29, 2021 – Oct 30, 2026

+20.1%BKUI+20.0%VUSB

Expense ratio: BKUI 0.12%; VUSB 0.10%, better
Fund size: BKUI $790M; VUSB $9.9B
1Y total return: BKUI +3.5%; VUSB +3.7%, better
Yield (12M): BKUI 3.99%; VUSB 4.27%, better
Holdings: BKUI 152; VUSB 1348
Avg volume (30D): BKUI 95.1K sh; VUSB 1.97M sh, better
NAV per share: BKUI $49.68; VUSB $49.62
52W range

ETF.net Grade

Pillar letters and Scores for BKUI, VUSB, with each pillar’s weight
Pillar	BKUI	VUSB
Cost30% weight	A81	A84Higher
Mission25% weight	A100	A100
Risk15% weight	C50	C53Higher
Tradability15% weight	C53	B66Higher
Holdings10% weight	A72	A90Higher
Durability5% weight	B59	A89Higher

Rank among Cash & Ultra-Short Income funds

How we build Categories ›

Same Category. BKUI and VUSB are both graded against the same 78 Cash & Ultra-Short Income funds, so their Grades compare head to head.

Cash & Ultra-Short Income⁠

Category · 78 funds

See all 78 ›

VUSB ranks 3rd and BKUI 17th of 78 funds in the Cash & Ultra-Short Income Category.

Rank 1AICSHiShares Ultra Short Duration Bond Active ETFScore 85
Rank 2ACLIPGlobal X 1-3 Month T-Bill ETFScore 82
Rank 3AVUSBVanguard Ultra-Short Bond ETFScore 81
Rank 4ATBLLInvesco Short Term Treasury ETFScore 80
Rank 15ASPTUState Street SPDR Portfolio Ultra Short T-Bill ETFScore 75
Rank 17ABKUIBNY Mellon Ultra Short Income ETFScore 74
Rank 17ASHViShares Trust iShares 0-1 Year Treasury Bond ETFScore 74

Our read on each fund

ETF.net Research

BKUIABNY Mellon Ultra Short Income ETF

VUSBAVanguard Ultra-Short Bond ETF

In short

BKUI BNY's take on the parked-cash corner: an investment-grade ultra-short bond fund at 0.13% a year, spread across roughly 160 positions, paying income monthly.

VUSB Vanguard's first actively managed bond ETF, run by its in-house fixed income team and priced at 0.10%. It holds investment-grade paper maturing inside two years: a step past a money fund, well short of a real bond fund.

Stated mandate

BKUI The fund seeks high current income while maintaining liquidity and limiting principal volatility. It normally invests at least 80% of net assets in investment-grade, U.S.-dollar fixed, variable or floating-rate debt or cash equivalents.

VUSB The fund seeks current income with limited price volatility while investing in diversified high- and medium-quality fixed-income securities. It expects to maintain a dollar-weighted average maturity of 0–2 years.

Why people hold it

BKUI 0.13% a year undercuts the ultra-short category's typical fee, and lands below top-rated peers like SHV, PULS and DUSB at 0.15%.
The mandate is plain-spoken: at least 80% of net assets in investment-grade dollar debt (fixed, variable or floating rate) or cash equivalents.
Income arrives monthly, and the book spreads across roughly 160 positions rather than a handful of bills.
Sits in the upper tier of a crowded ultra-short field of nearly 30 funds on our review.

VUSB At 0.10%, it costs half the typical ultra-short bond ETF and undercuts the other leaders in the group: SHV, PULS, FLDR and DUSB all charge 0.15%.
Active, not adventurous. The managers buy investment-grade bonds (A3-or-better high quality plus BBB-tier medium quality) and hold average maturity to zero-to-two years.vanguard.com
Income lands monthly, sourced from roughly 170 bonds, so no single issuer drives the outcome.
A multi-billion-dollar fund that trades actively, and the same portfolio team also runs a similar Vanguard ultra-short fund.vanguard.com

Worth knowing

BKUI The goal is limited principal volatility, not zero. This is short-dated credit, not a deposit account, so the share price can move.
With floating and variable-rate paper in the mix, the monthly payout floats with short-term rates instead of holding a set coupon.
Trading is moderate rather than the deepest in the category, which matters most on large orders.

VUSB This is not a money market fund. No fixed $1 share price, and the market price can trade above or below the value of the holdings.vanguard.com
The mandate allows BBB-tier credit, a notch of risk a Treasury-only neighbor like SHV doesn't take.vanguard.com
Bonds this short reprice with short-term rates, so the monthly payout drifts up and down instead of holding a set level.vanguard.com

Full BKUI profile⁠

Full VUSB profile⁠

BKUI vs VUSB Holdings

How BKUI and VUSB differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile69.5%
Asset classFixed Income100%

Sector

No Sector split for BKUI and VUSB.

Country, concentration and asset class

Country by domicile

Country weights in BKUI and VUSB, widest gap first
Country	More in BKUIMore in VUSB	BKUI	VUSB
United States	VUSB +23.6 points	53.3%	76.9%
France	BKUI +6.6 points	7.2%	0.6%
Australia	BKUI +3.8 points	5.4%	1.6%
Sweden	BKUI +3.6 points	3.7%	0.1%
Canada	BKUI +3.3 points	10.5%	7.2%
Spain	BKUI +3.2 points	3.9%	0.7%
Singapore	BKUI +2.8 points	2.8%	0.0%
Cayman Islands	VUSB +2.5 points	0.0%	2.5%
Other countries (16)	BKUI +2.7 points	13.1%	10.4%

Outside the US: BKUI 100% developed, 0% emerging.

Concentration

Weight in the 10 largest Holdings

BKUI22.7%
VUSB11.2%

Securities held

BKUI151
VUSB1,342

Asset class

BKUI: Fixed Income
VUSB: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. BKUI holds 151 securities, VUSB 1,342.

All 153 BKUI holdings⁠All VUSB holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BKUI vs VUSB Cost

Overpaying BKUI vs VUSB

$414

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

BKUI 0.12%
$2,520
VUSB 0.10%
$2,106

Amount$10,000

Years30 years

Cost over time

BKUI 0.12%
VUSB 0.10%
Overpaying

Year by year

Year	BKUI	VUSB	Overpaying
10	$220	$183	$37
20	$859	$717	$142
30	$2,520	$2,106	$414

Expense ratio

0.12%BKUI
0.10%VUSB, cheaper

VUSB0.10%BKUI0.12%

0.03%1.00%

Middle half of Cash & Ultra-Short Income funds
Median 0.18%

VUSB 13th cheapest of 78 funds

BKUI 15th cheapest of 78 funds

BKUI vs VUSB Dividends

Last 12 months to Oct 30, 2026

Yield (12M): BKUI 3.99%; VUSB 4.27%, better
Payout (12M): BKUI $1.98; VUSB $2.12
Last payment: BKUI $0.14; VUSB $0.18
Ex-dividend: BKUI Oct 1, 2026; VUSB Oct 1, 2026
Paid on: BKUI Oct 6, 2026; VUSB Oct 5, 2026
Frequency: BKUI Monthly; VUSB Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

BKUIMonthly · 45 paymentsAll BKUI payments⁠

VUSBMonthly · 45 paymentsAll VUSB payments⁠

BKUI vs VUSB Risk

Fall from peak · 5 years

BKUI
VUSB

Risk facts

VolatilityStd dev, 3 years: BKUI 0.6%, betterVUSB 0.8%
Return per unit of riskSharpe ratio, 3 years: BKUI 0.78VUSB 0.86, better
Worst fallMax drawdown, 5 years: BKUI −1.6%, betterVUSB −1.7%
Market sensitivityBeta, 5 years: BKUI 0.08VUSB 0.10; Market = 1

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