Invesco BulletShares 2028 Municipal Bond ETF (BSMS) belongs to the Municipal Bonds category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with BSMS. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to BSMS
BSMS charges 0.18% annually. There are 23 ETFs in the Municipal Bonds category with lower expense ratios, going as low as 0.03%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Vanguard Tax-Exempt Bond ETF | 0.03% | 48.80B | Aug 2015 | BSMS vs VTEB | |
| Schwab Municipal Bond ETF | 0.03% | 3.93B | Oct 2022 | BSMS vs SCMB | |
| Northern Trust Tax-Exempt Bond ETF | 0.05% | 60.01M | Aug 2025 | BSMS vs TAXT | |
| Northern Trust Intermediate Tax-Exempt Bond ETF | 0.05% | 169.01M | Aug 2025 | BSMS vs TAXI | |
| Northern Trust Short-Term Tax-Exempt Bond ETF | 0.05% | 130.20M | Aug 2025 | BSMS vs TAXS |
Best Risk-Adjusted Alternatives to BSMS
BSMS has a PortfoliosLab risk / return rank of 78. There are 21 ETFs in the Municipal Bonds category with higher risk-adjusted ranks, going as high as 97.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| State Street My2026 Municipal Bond ETF | 97 | 8.74M | Sep 2024 | BSMS vs MYMF | |
| State Street My2027 Municipal Bond ETF | 97 | 8.63M | Sep 2024 | BSMS vs MYMG | |
| Allspring Ultra Short Municipal ETF | 96 | 30.06M | Jul 2025 | BSMS vs AUSM | |
| Goldman Sachs Ultra Short Municipal Income ETF | 96 | 54.13M | Jul 2024 | BSMS vs GUMI | |
| iShares Short Maturity Municipal Bond ETF | 96 | 1.36B | Mar 2015 | BSMS vs MEAR |
Top Performing BSMS Alternatives (YTD)
BSMS is at 0.96% YTD. There are 53 ETFs in the Municipal Bonds category with higher YTD returns, going as high as 2.90%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| X-Square Municipal Income Tax Free ETF | 2.90% | 4.54M | May 2023 | BSMS vs ZTAX | |
| Overlay Shares Municipal Bond ETF | 2.46% | 30.60M | Sep 2019 | BSMS vs OVM | |
| NYLI MacKay Muni Allocation ETF | 2.42% | 28.01M | Dec 2025 | BSMS vs MMMA | |
| Xtrackers Municipal Infrastructure Revenue Bond ET... | 2.42% | 142.95M | Jun 2013 | BSMS vs RVNU | |
| T. Rowe Price High Income Municipal ETF | 2.17% | 26.19M | Nov 2025 | BSMS vs THYM |
Lowest Volatility Alternatives to BSMS
BSMS has 1.50% 1-year volatility. There are 28 ETFs in the Municipal Bonds category with lower 1-year volatility, going as low as 0.54%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| F/m Ultrashort Tax-Free Municipal ETF | 0.54% | 34.95M | Sep 2025 | BSMS vs ZMUN | |
| State Street My2026 Municipal Bond ETF | 0.65% | 8.74M | Sep 2024 | BSMS vs MYMF | |
| iShares Short-Term California Muni Active ETF | 0.72% | 445.30M | Oct 2007 | BSMS vs CALI | |
| Allspring Ultra Short Municipal ETF | 0.76% | 30.06M | Jul 2025 | BSMS vs AUSM | |
| State Street My2027 Municipal Bond ETF | 0.82% | 8.63M | Sep 2024 | BSMS vs MYMG |
Lowest Drawdown Alternatives to BSMS
BSMS has a 1-year max drawdown of -1.05%. There are 17 ETFs in the Municipal Bonds category with shallower 1-year drawdowns, going as shallow as -0.23%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| First Trust Ultra Short Duration Municipal ETF | -0.23% | 246.47M | Nov 2018 | BSMS vs FUMB | |
| Invesco BulletShares 2026 Municipal Bond ETF | -0.30% | 270.83M | Sep 2019 | BSMS vs BSMQ | |
| Goldman Sachs Ultra Short Municipal Income ETF | -0.36% | 54.13M | Jul 2024 | BSMS vs GUMI | |
| State Street My2027 Municipal Bond ETF | -0.36% | 8.63M | Sep 2024 | BSMS vs MYMG | |
| State Street My2026 Municipal Bond ETF | -0.38% | 8.74M | Sep 2024 | BSMS vs MYMF |
Other ETFs from Invesco
The 10 most viewed Invesco ETFs shown here include QQQ, SPMO, QQQM and span 12 categories. AUM among these funds goes as high as $453B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | Nasdaq-100 | 58 | 14.23% | 452.80B | Mar 1999 | BSMS vs QQQ | |
| Invesco S&P 500 Momentum ETF | Momentum, S&P 500 | 51 | 22.35% | 21.05B | Oct 2015 | BSMS vs SPMO | |
| Invesco NASDAQ 100 ETF | Nasdaq-100 | 59 | 14.26% | 97.11B | Oct 2020 | BSMS vs QQQM | |
| Invesco S&P 500 Equal Weight ETF | S&P 500, Equal Weight | 79 | 14.26% | 96.96B | Apr 2003 | BSMS vs RSP | |
| Invesco PHLX Semiconductor ETF | Semiconductors, Technology Equities | 88 | 61.64% | 2.58B | Jun 2021 | BSMS vs SOXQ | |
| Invesco S&P 500 Quality ETF | Quality Factor, S&P 500, Large Cap Blend Equities | 65 | 14.14% | 19.45B | Dec 2005 | BSMS vs SPHQ | |
| Invesco S&P 500 Top 50 ETF | S&P 500 | 45 | 4.68% | 10.56B | May 2005 | BSMS vs XLG | |
| Invesco S&P 500® High Dividend Low Volatility ETF | Dividend, S&P 500, Low Volatility | 55 | 12.76% | 4.04B | Oct 2012 | BSMS vs SPHD | |
| Invesco S&P MidCap Momentum ETF | Momentum, Mid Cap Growth Equities | 44 | 13.32% | 7.18B | Mar 2005 | BSMS vs XMMO | |
| Invesco S&P International Developed Momentum ETF | Momentum, Foreign Large Cap Equities | 58 | 11.63% | 4.08B | Feb 2012 | BSMS vs IDMO |
Often Compared With BSMS
Investors most often compare BSMS with BSMT, VTES, RMNY. These 20 comparison targets span 7 categories, based on PortfoliosLab usage data.
Compare BSMS with Any Fund or Stock
Compare BSMS with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair BSMS with funds that move differently
Invesco BulletShares 2028 Municipal Bond ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to BSMS.
Explore BSMS Diversifiers