- What does BKMI invest in?
- This fund aims to generate the highest possible current income, exempt from U.S. federal income tax, while simultaneously safeguarding invested capital. To achieve this, it typically allocates at least 80% of its net assets (including any borrowed funds for investment) to municipal bonds that produce income free from federal taxation. The portfolio primarily consists of investment-grade municipal and taxable bonds, meaning they are rated Baa3/BBB- or higher at the time of purchase, or are considered of comparable quality by the sub-adviser if unrated. Generally, the average effective duration of the fund's holdings ranges from three to eight years, although it maintains the flexibility to invest in individual bonds of any maturity or duration. Duration serves as an indicator of an investment's "interest rate risk," measuring how sensitive a bond or the overall portfolio is to shifts in interest rates; a longer duration typically signals greater sensitivity to rate changes and, consequently, higher long-term risk and return potential. As a liquid Exchange Traded Fund (ETF), investors can conveniently buy or sell shares throughout market trading hours.
- What is the expense ratio of BKMI?
- BNY Mellon Municipal Intermediate ETF (BKMI) charges an expense ratio of 0.35%. This is the annual fee deducted from fund assets to cover management and operations.
- What is BKMI's dividend yield?
- BKMI's trailing-twelve-month yield is 1.89%, calculated from the sum of dividends over the past year divided by the current price.
- What is the duration of BKMI?
- Effective duration measures BKMI's sensitivity to interest-rate changes — a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. BKMI's current duration is published on the fund's factsheet on the issuer's website.
- What is the credit quality of BKMI?
- BKMI's credit quality breakdown — the share of holdings rated AAA through CCC and below — is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.
- What is the yield to maturity of BKMI?
- Yield to maturity (YTM) is the total return you'd earn from BKMI if every bond in the portfolio is held to maturity at the current price. BKMI's YTM is published on the fund's factsheet on the issuer's website — it differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.
