- What does BKMS invest in?
- This fund endeavors to produce significant current income that is exempt from federal taxation, prioritizing the protection of invested capital. To accomplish this, it typically commits a minimum of 80% of its net assets, including any leveraged funds, to municipal bonds that generate income free from U.S. federal income tax. The portfolio primarily comprises municipal and taxable bonds that carry an investment-grade rating (specifically Baa3/BBB- or higher) at the point of acquisition, or, if unrated, are judged to be of equivalent quality by Insight North America LLC, the fund's sub-adviser. The average effective duration of the fund's assets is structured to remain at or below three years. Nevertheless, the fund maintains the flexibility to acquire individual municipal and taxable bonds across all maturities or durations. Duration serves as an indicator of an investment's "interest rate risk," illustrating its susceptibility to changes in interest rates. Generally, a longer duration signifies increased sensitivity to interest rate movements, which can lead to more pronounced long-term risk and return outcomes. Being a liquid exchange-traded fund (ETF), it facilitates investor trading of shares during all market operating hours.
- What is the expense ratio of BKMS?
- BNY Mellon Municipal Short Duration ETF (BKMS) charges an expense ratio of 0.35%. This is the annual fee deducted from fund assets to cover management and operations.
- What is BKMS's dividend yield?
- BKMS's trailing-twelve-month yield is 1.93%, calculated from the sum of dividends over the past year divided by the current price.
- What is the duration of BKMS?
- Effective duration measures BKMS's sensitivity to interest-rate changes — a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. BKMS's current duration is published on the fund's factsheet on the issuer's website.
- What is the credit quality of BKMS?
- BKMS'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 BKMS?
- Yield to maturity (YTM) is the total return you'd earn from BKMS if every bond in the portfolio is held to maturity at the current price. BKMS'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.
