- Issuer
- Invesco
- Inception Date
- Sep 25, 2019
- Region
- North America (U.S.)
- Category
- Municipal Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- Invesco BulletShares Municipal Bond 2025 Index
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $181M
Share Price Chart
Loading charts...
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Performance
BSMP Performance Chart
Loading charts...
Returns By Period
Invesco BulletShares 2025 Municipal Bond ETF
- 1D
- —
- 1M
- —
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.50%
- 1M
- 0.31%
- YTD
- 8.56%
- 6M
- 8.85%
- 1Y
- 24.33%
- 3Y*
- 19.37%
- 5Y*
- 11.84%
- 10Y*
- 13.61%
BSMP Monthly Returns History
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.00% | 0.00% | |||||||||||
| 2025 | 0.58% | 0.19% | -0.26% | 0.16% | 0.29% | 0.47% | -0.02% | 0.24% | 0.33% | 0.18% | 0.14% | -0.05% | 2.27% |
| 2024 | 0.02% | 0.04% | -0.24% | -0.20% | 0.11% | 0.52% | 1.17% | 0.18% | 0.13% | 0.15% | 0.62% | -0.06% | 2.46% |
| 2023 | 1.53% | -1.50% | 1.42% | -0.28% | -0.44% | 0.49% | 0.08% | -0.09% | -0.86% | -0.29% | 2.30% | 0.78% | 3.14% |
| 2022 | -2.05% | -0.28% | -1.97% | -1.61% | 1.27% | -0.47% | 1.55% | -1.73% | -2.44% | 0.09% | 2.68% | -0.10% | -5.09% |
| 2021 | 0.24% | -1.00% | 0.34% | 0.66% | 0.08% | 0.15% | 0.50% | -0.04% | -0.39% | -0.18% | 0.17% | 0.08% | 0.60% |
Benchmark Metrics
Invesco BulletShares 2025 Municipal Bond ETF has an annualized alpha of 0.81%, beta of 0.04, and R2 of 0.05 versus S&P 500 Index. Calculated based on daily prices since September 26, 2019.
- This ETF participated in 12.52% of S&P 500 Index downside but only 8.19% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.04 may look defensive, but with R2 of 0.05 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.05 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 0.81%
- Beta
- 0.04
- R²
- 0.05
- Upside Capture
- 8.19%
- Downside Capture
- 12.52%
Expense Ratio
BSMP has an expense ratio of 0.18%, which is considered low.
Return for Risk
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Invesco BulletShares 2025 Municipal Bond ETF (BSMP) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BSMP | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.34 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.53 | — |
| Martin ratioReturn relative to average drawdown | — | 11.37 | — |
Dividends
Dividend History
Invesco BulletShares 2025 Municipal Bond ETF provided a 1.27% dividend yield over the last twelve months, with an annual payout of $0.31 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend | $0.31 | $0.58 | $0.62 | $0.54 | $0.30 | $0.19 | $0.34 | $0.09 |
Dividend yield | 1.27% | 2.35% | 2.53% | 2.20% | 1.23% | 0.72% | 1.32% | 0.35% |
Monthly Dividends
The table displays the monthly dividend distributions for Invesco BulletShares 2025 Municipal Bond ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | |||||||||||
| 2025 | $0.05 | $0.05 | $0.05 | $0.05 | $0.06 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.01 | $0.58 |
| 2024 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.62 |
| 2023 | $0.04 | $0.04 | $0.05 | $0.04 | $0.05 | $0.04 | $0.05 | $0.05 | $0.05 | $0.05 | $0.04 | $0.05 | $0.54 |
| 2022 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.04 | $0.30 |
| 2021 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.19 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Loading charts...
Worst Drawdowns
The table below displays the maximum drawdowns of the Invesco BulletShares 2025 Municipal Bond ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Invesco BulletShares 2025 Municipal Bond ETF was 10.77%, occurring on Mar 23, 2020. Recovery took 83 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -10.77%Mar 2020 | 13d | 4mo | 4mo 13dMar 2020 - Jul 2020 |
Bear market2022 | -8.11%Oct 2022 | 1y 2mo | 2y 1mo | 3y 3moAug 2021 - Dec 2024 |
2021 pullback2021 | -1.45%Mar 2021 | 14d | 3mo 11d | 3mo 25dFeb 2021 - Jun 2021 |
2025 selloff2025 | -0.69%Apr 2025 | 1mo 14d | 21d | 2mo 5dFeb 2025 - May 2025 |
2020 pullback2020 | -0.63%Oct 2020 | 2mo 10d | 13d | 2mo 23dAug 2020 - Nov 2020 |
Drawdown Indicators
| BSMP | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | — | -56.78% | — |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.10% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | — | -2.34% | — |
Average DrawdownAverage peak-to-trough decline | — | -10.72% | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.02% | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
Loading charts...
Build a portfolio with BSMP
Add Invesco BulletShares 2025 Municipal Bond ETF to a portfolio and analyze allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Analyzer with BSMP