BNY Mellon Municipal Intermediate ETF
BNY Mellon Municipal Intermediate ETF (NASDAQ: BKMI) is an exchange-traded fund listed on NASDAQ, trading at $24.71 (about ₹2,371 a unit) as of 28 Sep 2026, 4:00 PM ET. It has an expense ratio of 0.35% and holds 529 securities. Indian residents can buy BKMI through Paasa under the RBI's Liberalised Remittance Scheme.
Quote
Today's low
$24.68
Today's high
$24.90
52 week low
$24.68
52 week high
$26.88
BKMI opened at $24.84, closed previously at $24.89, and has traded between $24.68 and $26.88 over the past 52 weeks.
About
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.
Key statistics
Expense ratio
0.35%
Assets (AUM)
$1.6B
Holdings
529
NAV
$24.92
Avg. volume
—
1-year price change
—
5-year price change
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Price change excludes dividends.
Top 10 holdings
BKMI holds 529 securities in total. These 10 are 7.5% of the fund.
How to buy BKMI from India
Indian residents can buy BKMI units through Paasa in three steps. Funds leave India under the RBI's Liberalised Remittance Scheme and the units are held in your own name with Interactive Brokers.
Open your Paasa account
KYC takes a few minutes: PAN, Aadhaar and address proof. Your brokerage account is opened in your own name with Interactive Brokers.
Add funds from your Indian bank account
Remit up to $250,000 a year under the RBI's Liberalised Remittance Scheme. Your bank converts the rupees to US dollars at its rate on the day you remit.
Search BKMI and buy
Find the fund by its ticker, BKMI, on NASDAQ, and place your order. Fractional units are available and there is no minimum trade size, so you can buy by amount.
Read the full guide: how to invest in BKMI from India
Trading and taxes when buying BKMI from India
Trading and limits
- Trading hours
- 9:30 am – 4:00 pm ET
- LRS limit
- $250,000Per financial year, under the RBI's Liberalised Remittance Scheme.
Tax for Indian residents
- TCS on remittance
- 20%Collected by your bank on LRS remittances above ₹10 lakh in a financial year. The TCS is adjustable against your income-tax liability.Adjusting TCS against your tax
- Capital gains in India
- Taxable in IndiaGains are taxable in India. Debt-oriented funds can be taxed differently from equity funds, so confirm your rate before selling.
- Dividends
- Slab rateIt pays the dividends from its holdings out to you in cash, and dividends are taxed at your slab rate in India.Dividend tax explained
- US estate tax
- May applyUS-situs assets such as US-listed shares can be exposed to US estate tax for non-US persons.US estate tax calculator
Custody. Units are held in your own name at Interactive Brokers LLC and are SIPC-insured up to $500,000 in total, including $250,000 for cash.
FAQs
What is the BKMI price today?
BNY Mellon Municipal Intermediate ETF (BKMI) last traded at $24.71 on NASDAQ, as of 28 Sep 2026, 4:00 PM ET. That is ₹2,371 a unit at the 27 Sep 2026 USD/INR rate.
When does BKMI trade, in Indian time?
NASDAQ trades 7:00 pm – 1:30 am IST, so the close lands after midnight. The window shifts to 8:00 pm – 2:30 am IST when the US is on standard time. Orders can only execute during that window.
How big is BKMI, and what does it cost to hold?
BNY Mellon Municipal Intermediate ETF manages about $1.6B. Its expense ratio is 0.35% a year, deducted inside the fund. It launched in 1987.
What are BKMI's largest holdings?
The top three are NY LIBERTY DEV CORP-1 5 11/15/2044 (0.9%), IL ST-REV-B 5 6/15/2039 (0.9%) and PORTLAND SWR-A 4.5 5/1/2037 (0.8%). BKMI's 10 largest positions make up 7.5% of the fund.
Does BKMI pay dividends?
Yes. BKMI is a distributing fund and pays the dividends from its holdings out in cash. In India they are taxed at your slab rate.
How are gains on BKMI taxed in India?
Gains are taxable in India. Debt-oriented funds can be taxed differently from equity funds, so confirm your rate before selling.
Can I buy fractional units of BKMI?
Yes. You can buy BKMI by amount rather than by whole unit, and there is no minimum trade size.