- 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 2026 Index
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $290M
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
BSMQ Performance Chart
Invesco BulletShares 2026 Municipal Bond ETF (BSMQ) is up 0.9% since the beginning of the year. BSMQ is currently trading at $24 per share. Investors who bought $1,000 worth of BSMQ shares 5 years ago would now be looking at an investment worth $1,010.
Loading charts...
Returns By Period
Invesco BulletShares 2026 Municipal Bond ETF (BSMQ) has returned 0.91% so far this year and 3.08% over the past 12 months.
Invesco BulletShares 2026 Municipal Bond ETF
- 1D
- -0.04%
- 1M
- 0.25%
- YTD
- 0.91%
- 6M
- 1.43%
- 1Y
- 3.08%
- 3Y*
- 2.94%
- 5Y*
- 0.20%
- 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%
BSMQ Monthly Returns History
Based on dividend-adjusted daily data since Sep 26, 2019, BSMQ's average daily return is +0.01%, while the average monthly return is +0.11%. At this rate, an investment would double in approximately 52.5 years.
Historically, 62% of months were positive and 38% were negative. The best month was Nov 2022 with a return of +3.5%, while the worst month was Mar 2020 at -3.9%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 4 months.
On a daily basis, BSMQ closed higher 48% of trading days. The best single day was Mar 25, 2020 with a return of +6.2%, while the worst single day was Mar 13, 2020 at -3.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.23% | 0.23% | 0.16% | 0.02% | 0.22% | 0.05% | 0.91% | ||||||
| 2025 | 0.53% | 0.60% | -0.28% | -0.66% | 0.52% | 0.64% | -0.07% | 0.50% | 0.57% | 0.16% | 0.37% | 0.22% | 3.12% |
| 2024 | -0.21% | 0.27% | -0.22% | -0.39% | 0.01% | 0.77% | 0.77% | 0.48% | 0.50% | -0.61% | 0.79% | -0.19% | 1.99% |
| 2023 | 1.94% | -1.93% | 1.84% | -0.47% | -0.72% | 0.63% | 0.08% | -0.43% | -1.26% | -0.40% | 3.11% | 1.26% | 3.60% |
| 2022 | -2.79% | -0.31% | -2.68% | -2.32% | 1.08% | -1.22% | 2.31% | -1.96% | -3.38% | 0.05% | 3.52% | 0.05% | -7.62% |
| 2021 | 0.68% | -1.62% | 0.57% | 1.00% | 0.16% | 0.25% | 0.59% | -0.18% | -0.58% | -0.27% | 0.44% | 0.02% | 1.05% |
Benchmark Metrics
Invesco BulletShares 2026 Municipal Bond ETF has an annualized alpha of 0.92%, beta of 0.03, and R2 of 0.01 versus S&P 500 Index. Calculated based on daily prices since September 26, 2019.
- This ETF participated in 17.75% of S&P 500 Index downside but only 9.67% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.03 may look defensive, but with R2 of 0.01 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 0.01 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
- 0.92%
- Beta
- 0.03
- R²
- 0.01
- Upside Capture
- 9.67%
- Downside Capture
- 17.75%
Expense Ratio
BSMQ has an expense ratio of 0.18%, which is considered low.
Return for Risk
Risk / Return Rank
BSMQ ranks 90 for risk / return — in the top 90% of ETFs on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Invesco BulletShares 2026 Municipal Bond ETF (BSMQ) 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.
| BSMQ | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.44 | ||
| Sortino ratioReturn per unit of downside risk | +1.15 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.34 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 9.16 | 2.53 | +6.63 |
| Martin ratioReturn relative to average drawdown | 24.29 | 11.37 | +12.92 |
Dividends
Dividend History
Invesco BulletShares 2026 Municipal Bond ETF provided a 2.76% dividend yield over the last twelve months, with an annual payout of $0.65 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend | $0.65 | $0.65 | $0.65 | $0.59 | $0.38 | $0.30 | $0.41 | $0.11 |
Dividend yield | 2.76% | 2.74% | 2.75% | 2.47% | 1.60% | 1.14% | 1.57% | 0.44% |
Monthly Dividends
The table displays the monthly dividend distributions for Invesco BulletShares 2026 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 | $0.05 | $0.06 | $0.06 | $0.05 | $0.05 | $0.00 | $0.27 | ||||||
| 2025 | $0.05 | $0.05 | $0.05 | $0.05 | $0.06 | $0.06 | $0.06 | $0.06 | $0.05 | $0.05 | $0.05 | $0.05 | $0.65 |
| 2024 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.06 | $0.06 | $0.06 | $0.05 | $0.06 | $0.06 | $0.05 | $0.65 |
| 2023 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.59 |
| 2022 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.04 | $0.04 | $0.05 | $0.38 |
| 2021 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.30 |
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 2026 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 2026 Municipal Bond ETF was 13.18%, occurring on Mar 23, 2020. Recovery took 169 trading sessions.
The current Invesco BulletShares 2026 Municipal Bond ETF drawdown is 0.04%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -13.18%Mar 2020 | 12d | 8mo 1d | 8mo 13dMar 2020 - Nov 2020 |
Bear market2022 | -11.50%Oct 2022 | 1y 2mo | 3y 2mo | 4y 4moAug 2021 - Dec 2025 |
2021 pullback2021 | -1.99%Feb 2021 | 13d | 3mo 13d | 3mo 26dFeb 2021 - Jun 2021 |
2019 pullback2019 | -0.87%Nov 2019 | 18d | 22d | 1mo 10dOct 2019 - Dec 2019 |
2021 pullback2021 | -0.81%Jun 2021 | 9d | 26d | 1mo 5dJun 2021 - Jul 2021 |
Drawdown Indicators
| BSMQ | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.18% | -56.78% | +43.60% |
Max Drawdown (1Y)Largest decline over 1 year | -0.33% | -9.10% | +8.77% |
Max Drawdown (3Y)Largest decline over 3 years | -2.53% | -18.90% | +16.37% |
Max Drawdown (5Y)Largest decline over 5 years | -11.50% | -25.43% | +13.93% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.04% | -2.34% | +2.30% |
Average DrawdownAverage peak-to-trough decline | -3.46% | -10.72% | +7.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.12% | 2.02% | -1.90% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
Loading charts...
Build a portfolio with BSMQ
Add Invesco BulletShares 2026 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 BSMQ