# How BNY Mellon Municipal Opportunities ETF (BMOP) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/bmop
> Data as of October 20, 2026. Total returns include reinvested dividends. Past performance does not predict future results; nothing here is investment advice.

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on BMOP alone. It places BMOP (BNY Mellon Municipal Opportunities ETF) against 17 popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken and diversification. The result is a clearer view of where BMOP stands in the market, and of the alternatives worth a closer look.

Period covered: BMOP's full trading record. All returns include reinvested dividends. Data as of October 20, 2026.

## Key findings

- **Right now:** Over the past 6 months, BMOP fell 3.3% while the S&P 500 rose 9.1%. That said, both BMOP and the S&P 500 are within a few percent of a record high.
- **Fund or market?:** BMOP fell 4.0% over the past 3 months, in line with the municipal bonds ETF MUB (iShares National Muni Bond ETF), which fell 3.0%. The S&P 500 rose 3.9%.

## BMOP at a glance

This section summarizes the key facts about the fund, its returns over the months since it began trading and the risk it has carried, with dividends reinvested throughout.

- BMOP's deepest decline since it began trading in 2026 was 6.7%, from July to September 2026. It has not yet climbed back to that peak.
- BMOP is 4.9% below its all-time high.

- Type: ETF, Bonds (Asset Management)
- Trading since: January 12, 2026
- Assets: $1.6B
- Expense ratio: 0.54%
- Worst decline ever: −6.7%, from July 2, 2026 to September 29, 2026; not yet back at its high

| Period | BMOP total return |
| --- | --- |
| 1 month | −0.9% |
| 3 months | −4.0% |
| 6 months | −3.3% |

## BMOP against its popular alternatives

The investments people most often weigh against BMOP, compared period by period and year by year.

### Has BMOP consistently beaten its popular alternatives?

This section compares BMOP with the investments people most often weigh against it, checking each one over three periods from one month to six months.

- 11 of the 17 popular alternatives, led by SGOV, VCSH and DFNM, outperformed BMOP in at least 2 of 3 timeframes.

| Investment | Periods ahead of BMOP | Verdict | Sharpe |
| --- | --- | --- | --- |
| BMOP: BNY Mellon Municipal Opportunities ETF (this page) |  |  | — |
| [SGOV](https://easycompare.io/research/sgov): iShares 0-3 Month Treasury Bond ETF | 3/3 short-term | consistent | — |
| [VCSH](https://easycompare.io/research/vcsh): Vanguard Short-Term Corporate Bond ETF | 3/3 short-term | consistent | — |
| DFNM: Dimensional - National Municipal Bond ETF | 3/3 short-term | consistent | — |
| MUNI: PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund | 3/3 short-term | consistent | — |
| JMUB: JPMorgan Municipal ETF | 3/3 short-term | consistent | — |
| [AGG](https://easycompare.io/research/agg): iShares Core U.S. Aggregate Bond ETF | 2/3 short-term | consistent | — |
| [BND](https://easycompare.io/research/bnd): Vanguard Total Bond Market ETF | 2/3 short-term | consistent | — |
| HYD: VanEck High Yield Muni ETF | 2/3 short-term | consistent | — |
| [MUB](https://easycompare.io/research/mub): iShares National Muni Bond ETF | 2/3 short-term | consistent | — |
| SCMB: Schwab Municipal Bond ETF | 2/3 short-term | consistent | — |
| [VTEB](https://easycompare.io/research/vteb): Vanguard Tax-Exempt Bond ETF | 2/3 short-term | consistent | — |
| MINO: PIMCO Municipal Income Opportunities Active Exchange-Traded Fund | 1/3 short-term |  | — |
| TFI: State Street SPDR Nuveen ICE Municipal Bond ETF | 1/3 short-term |  | — |
| JMHI: JPMorgan High Yield Municipal ETF | 0/3 short-term |  | — |
| FMHI: First Trust Municipal High Income ETF | 0/3 short-term |  | — |
| HYMB: State Street SPDR Nuveen ICE High Yield Municipal Bond ETF | 0/3 short-term |  | — |
| PZA: Invesco National AMT-Free Municipal Bond ETF | 0/3 short-term |  | — |

## Risk and diversification

How BMOP has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.

### What were BMOP's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −6.7% | July 2, 2026 | September 29, 2026 | not yet | +2.9% |  |

## Common questions

### What was BMOP's worst drawdown?

BMOP's deepest decline since it began trading in 2026 was 6.7%, from July to September 2026. It has not yet climbed back to that peak. Because BMOP launched in January 2026, that record does not include the dot-com bust, the 2008 financial crisis or eight other sell-offs.

### What are the best alternatives to BMOP?

Of the 17 popular alternatives we compared, 11 outperformed BMOP in at least 2 of 3 timeframes, with dividends reinvested: SGOV, VCSH and DFNM.

## More research

- [iShares 0-3 Month Treasury Bond ETF (SGOV) Performance, Alternatives and Market Rank](https://easycompare.io/research/sgov)
- [Vanguard Short-Term Corporate Bond ETF (VCSH) Performance, Alternatives and Market Rank](https://easycompare.io/research/vcsh)
- [iShares Core U.S. Aggregate Bond ETF (AGG) Performance, Alternatives and Market Rank](https://easycompare.io/research/agg)
- [Vanguard Total Bond Market ETF (BND) Performance, Alternatives and Market Rank](https://easycompare.io/research/bnd)
- [iShares National Muni Bond ETF (MUB) Performance, Alternatives and Market Rank](https://easycompare.io/research/mub)
- [Vanguard Tax-Exempt Bond ETF (VTEB) Performance, Alternatives and Market Rank](https://easycompare.io/research/vteb)
- [Schwab U.S. Dividend Equity ETF (SCHD) Performance, Alternatives and Market Rank](https://easycompare.io/research/schd)
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- [Alphabet (GOOG) Performance, Alternatives and Market Rank](https://easycompare.io/research/goog)
- [Microsoft (MSFT) Performance, Alternatives and Market Rank](https://easycompare.io/research/msft)
- [Amazon.com (AMZN) Performance, Alternatives and Market Rank](https://easycompare.io/research/amzn)

## Explore further

- Full page with charts: https://easycompare.io/research/bmop
- All research pages: https://easycompare.io/llms.txt
- Compare the entire market against BMOP live: https://betterthanspy.com/?b=BMOP&utm_source=easycompare&utm_medium=research