- ISIN
- US46138J4114
- Issuer
- Invesco
- Inception Date
- Sep 15, 2021
- Region
- North America (U.S.)
- Category
- Municipal Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- Invesco BulletShares Municipal Bond 2031 Index
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $189M
Share Price Chart
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Performance
BSMV Performance Chart
Invesco BulletShares 2031 Municipal Bond ETF (BSMV) is up 0.6% since the beginning of the year. BSMV is currently trading at $21 per share.
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Returns By Period
Invesco BulletShares 2031 Municipal Bond ETF (BSMV) has returned 0.55% so far this year and 5.26% over the past 12 months.
Invesco BulletShares 2031 Municipal Bond ETF
- 1D
- -0.15%
- 1M
- 0.81%
- YTD
- 0.55%
- 6M
- 0.81%
- 1Y
- 5.26%
- 3Y*
- 2.94%
- 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%
BSMV Monthly Returns History
Based on dividend-adjusted daily data since Sep 21, 2021, BSMV's average daily return is 0.00%, while the average monthly return is -0.06%.
Historically, 52% of months were positive and 48% were negative. The best month was Nov 2023 with a return of +6.7%, while the worst month was Apr 2022 at -5.5%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 5 months.
On a daily basis, BSMV closed higher 48% of trading days. The best single day was Nov 10, 2022 with a return of +1.7%, while the worst single day was Jun 13, 2022 at -3.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.03% | 0.87% | -2.37% | 0.93% | -0.01% | 0.14% | 0.55% | ||||||
| 2025 | 0.37% | 1.05% | -1.63% | -0.85% | 0.15% | 0.98% | -0.05% | 1.20% | 1.47% | 0.81% | 0.29% | 0.21% | 4.03% |
| 2024 | -0.26% | -0.13% | -0.41% | -1.50% | -0.57% | 1.22% | 0.99% | 0.31% | 1.13% | -1.37% | 1.60% | -1.22% | -0.28% |
| 2023 | 3.80% | -2.62% | 2.64% | -0.20% | -1.31% | 0.89% | 0.06% | -1.63% | -3.21% | -1.21% | 6.72% | 3.31% | 6.99% |
| 2022 | -4.59% | -0.50% | -5.47% | -5.48% | 2.36% | -3.76% | 3.15% | -2.97% | -4.49% | -0.49% | 6.67% | -0.15% | -15.32% |
| 2021 | 0.26% | -1.70% | 1.71% | 0.52% | 0.76% |
Benchmark Metrics
Invesco BulletShares 2031 Municipal Bond ETF has an annualized alpha of -1.60%, beta of 0.06, and R2 of 0.03 versus S&P 500 Index. Calculated based on daily prices since September 21, 2021.
- This ETF participated in 49.14% of S&P 500 Index downside but only 19.56% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.06 may look defensive, but with R2 of 0.03 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 0.03 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
- -1.60%
- Beta
- 0.06
- R²
- 0.03
- Upside Capture
- 19.56%
- Downside Capture
- 49.14%
Expense Ratio
BSMV has an expense ratio of 0.18%, which is considered low.
Return for Risk
Risk / Return Rank
BSMV ranks 63 for risk / return — better than 63% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Invesco BulletShares 2031 Municipal Bond ETF (BSMV) 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.
| BSMV | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.34 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | 2.53 | -0.70 |
| Martin ratioReturn relative to average drawdown | 5.54 | 11.37 | -5.83 |
Dividends
Dividend History
Invesco BulletShares 2031 Municipal Bond ETF provided a 2.90% dividend yield over the last twelve months, with an annual payout of $0.61 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Dividend | $0.61 | $0.62 | $0.65 | $0.56 | $0.46 | $0.06 |
Dividend yield | 2.90% | 2.93% | 3.10% | 2.59% | 2.21% | 0.24% |
Monthly Dividends
The table displays the monthly dividend distributions for Invesco BulletShares 2031 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 | $0.05 | $0.05 | $0.05 | $0.05 | $0.00 | $0.25 | ||||||
| 2025 | $0.05 | $0.05 | $0.05 | $0.05 | $0.06 | $0.06 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.62 |
| 2024 | $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 |
| 2023 | $0.04 | $0.04 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.04 | $0.05 | $0.56 |
| 2022 | $0.03 | $0.03 | $0.04 | $0.04 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.46 |
| 2021 | $0.03 | $0.03 | $0.06 |
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.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Invesco BulletShares 2031 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 2031 Municipal Bond ETF was 20.68%, occurring on Oct 25, 2022. The portfolio has not yet recovered.
The current Invesco BulletShares 2031 Municipal Bond ETF drawdown is 5.54%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -20.68%Oct 2022 | 10mo 12d | — | 4y 6moDec 2021 - now |
2021 pullback2021 | -1.70%Oct 2021 | 1d | 1mo 5d | 1mo 6dOct 2021 - Dec 2021 |
2021 pullback2021 | -0.33%Dec 2021 | 1d | 5d | 6dDec 2021 - Dec 2021 |
2021 pullback2021 | -0.26%Dec 2021 | 0s | 1d | 1dDec 2021 - Dec 2021 |
Drawdown Indicators
| BSMV | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.68% | -56.78% | +36.10% |
Max Drawdown (1Y)Largest decline over 1 year | -2.79% | -9.10% | +6.31% |
Max Drawdown (3Y)Largest decline over 3 years | -6.63% | -18.90% | +12.27% |
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 | -5.54% | -2.34% | -3.20% |
Average DrawdownAverage peak-to-trough decline | -10.40% | -10.72% | +0.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 2.02% | -1.10% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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