AAAvsBKMSETF Comparison
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AXS First Priority CLO Bond ETF (AAA) belongs to the US Corporate IG Bonds segment. BNY Mellon Municipal Short Duration ETF (BKMS) is part of the Municipal Bonds segment. AAA's top 2 sector exposures are Industrials and Finance. In contrast, BKMS's top sector exposures are Municipal. AAA is less expensive with a Total Expense Ratio (TER) of 0.25%, versus 0.35% for BKMS. Run a side-by-side ETF comparison of AAA and BKMS below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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AAA vs BKMS performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/15/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | AAA BKMS | +0.28%-0.07% | +1.15%-0.50% | +3.67%n/a | +4.84%n/a | +18.61%n/a | +26.62%n/a |
| Flows | AAA BKMS | +$5M+$24M | +$27M+$27M | +$30M- | +$30M- | +$65M- | +$63M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | AAA BKMS | +0.34%+1.78% | +0.46%n/a | +1.12%n/a | +1.42%n/a |
| Max drawdown | AAA BKMS | -0.04%-1.90% | -0.06%n/a | -0.86%n/a | -2.37%n/a |
| Max drawdown duration | AAA BKMS | 4d51d | 3dn/a | 26dn/a | 375dn/a |
Trading data
AAA | BKMS | |
Last sale 10/16/2026 at 1:30 PM | $24.78 | $25.17 |
| Previous close 10/15/2026 | $24.83 | $25.16 |
| Consolidated volume 10/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
AAA | BKMS | |
|---|---|---|
| Last price | $24.78 | $25.17 |
| 1D performance | -0.21% | +0.06% |
| AuM | $72.50 M | $455.14 M |
| E/R | 0.25% | 0.35% |
Characteristics
AAA | BKMS | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | AXS Investments | BNY Mellon |
| Benchmark | - | - |
| N° of holdings | 8 | 43 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 9, 2020 | January 9, 2026 |
| ESG | No | No |
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Exposure
Countries
AAA
USA
22.83%
Other
77.17%
BKMS
USA
24.68%
Other
75.32%
Sectors
AAA
Industrials
18.19%
Other
81.81%
BKMS
Municipal
24.68%
Other
75.32%
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Diversification
AAA
Total weight of top 15 holdings out of 15
60.18%
BKMS
Total weight of top 15 holdings out of 15
20.5%
Top 15 holdings
Data as of August 31, 2026
AAA
Fortress Credit BSL 2025-2A, FRN 15oct2038, USD (ABS, A)
4.64%
LCM 38A, FRN 4nov2038, USD (ABS, AR2)
4.64%
US482937AJ80
4.63%
US55819MBC91
4.63%
Carlyle US CLO 2019-4A, FRN 22jun2039, USD (ABS, A12)
4.63%
US03768UAG40
4.63%
US73052VAN55
4.63%
US83013NAC48
4.62%
US64130TBJ34
4.62%
US03766HAQ39
3.09%
Fortress Credit BSL 2024-4A, FRN 15jan2038, USD (ABS, A)
3.09%
US03166GAA67
3.09%
US15032EAY59
3.09%
US149791BG90
3.09%
US92919AAN46
3.08%
BKMS
US762196EY54
2.31%
Tarrant Cultural Education Facilities Finance Corp., 5% 15nov2064, USD (2025B)
1.85%
Southeast Energy Authority, 5% 1may2053, USD (2022)
1.76%
New York Dormitory Authority, 5% 1jul2048, USD
1.46%
Connecticut Health and Educational Facilities Authority, 5% 1jul2064, USD (2025B-1)
1.34%
US71783TAC45
1.27%
City of New York, 5% 1aug2030, USD (2026)
1.25%
Private Colleges and Universities Authority, 5% 1sep2029, USD (2025A)
1.24%
Virginia Transportation Board, 5% 15may2031, USD (2017A)
1.19%
US899576HE55
1.18%
US593344CB87
1.17%
New York Housing Finance Agency, 3.6% 1nov2064, USD (2025)
1.17%
Rural Water Financing Agency, 2.75% 1may2028, USD (2025A)
1.15%
US803770XC53
1.11%
US45470YGD76
1.04%
Frequently asked questions about AAA and BKMS
Which ETF is bigger: AAA or BKMS?
As of October 15, 2026, AAA holds $72.50 M in assets under management (AUM), while BKMS manages $455.14 M.
What sectors do the AAA and BKMS ETFs invest in?
AAA leans toward sectors like Industrials. Meanwhile, BKMS focuses on Municipal.
What are the top holdings of the AAA ETF and BKMS ETF?
AAA top holdings include Fortress Credit BSL 2025-2A, FRN 15oct2038, USD (ABS, A), LCM 38A, FRN 4nov2038, USD (ABS, AR2) and US482937AJ80. BKMS holds in its top three: US762196EY54, Tarrant Cultural Education Facilities Finance Corp., 5% 15nov2064, USD (2025B) and Southeast Energy Authority, 5% 1may2053, USD (2022).
Which ETF is more diversified: AAA or BKMS?
AAA holds 35 securities with 60.18% of its assets in the top 15. BKMS has 253 securities and a top 15 weight of 20.5%.
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Latest news about AAA & BKMS
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