AMUB vs. BSMY

Last updated Jul 14, 2026

AMUB (ETRACS Alerian MLP Index ETN Class B) and BSMY (Invesco BulletShares 2034 Municipal Bond ETF) are both exchange-traded funds - AMUB is a MLPs fund tracking the Alerian MLP Index, while BSMY is a Municipal Bonds fund tracking the Invesco BulletShares USD Municipal Bond 2034 Index. Both are passively managed. Over the past year, AMUB returned 17.43% vs 7.54% for BSMY. At a correlation of -0.05, they often move in opposite directions. AMUB charges 0.80%/yr vs 0.18%/yr for BSMY.

Performance

AMUB vs. BSMY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS Alerian MLP Index ETN Class B (AMUB) and Invesco BulletShares 2034 Municipal Bond ETF (BSMY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMUB achieves a 18.96% return, which is significantly higher than BSMY's 1.65% return.

AMUB

• 1D: 2.18%
• 1M: 2.62%
• 6M: 15.37%
• YTD: 18.96%
• 1Y: 17.43%
• 3Y*: 15.30%
• 5Y*: 13.69%
• 10Y*: 3.23%

BSMY

• 1D: -0.11%
• 1M: 0.36%
• 6M: 0.79%
• YTD: 1.65%
• 1Y: 7.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AMUB vs. BSMY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AMUB ETRACS Alerian MLP Index ETN Class B	18.96%	2.05%	4.34%
BSMY Invesco BulletShares 2034 Municipal Bond ETF	1.65%	3.82%	-1.86%

Correlation

The correlation between AMUB and BSMY is -0.23, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.23
Correlation (All Time) Calculated using the full available price history since Sep 11, 2024	-0.05

The correlation between AMUB and BSMY shifts across timeframes, from -0.23 (1 year) to -0.05 (all time), reflecting how their relationship changes across market environments.

Return for Risk

AMUB vs. BSMY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AMUB

AMUB Risk / Return Rank: 40
AMUB Sharpe Ratio Rank: 43
AMUB Sortino Ratio Rank: 42
AMUB Omega Ratio Rank: 40
AMUB Calmar Ratio Rank: 39
AMUB Martin Ratio Rank: 34

BSMY

BSMY Risk / Return Rank: 76
BSMY Sharpe Ratio Rank: 85
BSMY Sortino Ratio Rank: 89
BSMY Omega Ratio Rank: 90
BSMY Calmar Ratio Rank: 58
BSMY Martin Ratio Rank: 57

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AMUB vs. BSMY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETRACS Alerian MLP Index ETN Class B (AMUB) and Invesco BulletShares 2034 Municipal Bond ETF (BSMY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	AMUB	BSMY	Difference
Sharpe ratio: Return per unit of total volatility	1.22	2.17	-0.95
Sortino ratio: Return per unit of downside risk	1.76	3.27	-1.51
Omega ratio: Gain probability vs. loss probability	1.21	1.45	-0.24
Calmar ratio: Return relative to maximum drawdown	1.60	2.28	-0.69
Martin ratio: Return relative to average drawdown	4.07	7.90	-3.83

AMUB vs. BSMY - Sharpe Ratio Comparison

The current AMUB Sharpe Ratio is 1.22, which is lower than the BSMY Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of AMUB and BSMY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AMUB vs. BSMY - Drawdown Comparison

The maximum AMUB drawdown since its inception was -79.46%, which is greater than BSMY's maximum drawdown of -6.81%. Use the drawdown chart below to compare losses from any high point for AMUB and BSMY.

Drawdown Indicators

	AMUB	BSMY	Difference
Max Drawdown Largest peak-to-trough decline	-79.46%	-6.81%	-72.65%
Max Drawdown (1Y) Largest decline over 1 year	-11.02%	-3.31%	-7.71%
Max Drawdown (3Y) Largest decline over 3 years	-17.22%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.58%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-78.86%	—	—
Current Drawdown Current decline from peak	-4.56%	-0.61%	-3.95%
Average Drawdown Average peak-to-trough decline	-29.01%	-1.89%	-27.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.30%	0.96%	+3.34%

Volatility

AMUB vs. BSMY - Volatility Comparison

ETRACS Alerian MLP Index ETN Class B (AMUB) has a higher volatility of 6.18% compared to Invesco BulletShares 2034 Municipal Bond ETF (BSMY) at 1.03%. This indicates that AMUB's price experiences larger fluctuations and is considered to be riskier than BSMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMUB	BSMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.18%	1.03%	+5.15%
Volatility (6M) Calculated over the trailing 6-month period	10.99%	2.71%	+8.28%
Volatility (1Y) Calculated over the trailing 1-year period	14.40%	3.49%	+10.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.11%	5.14%	+14.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.17%	5.14%	+22.03%

AMUB vs. BSMY - Expense Ratio Comparison

AMUB has a 0.80% expense ratio, which is higher than BSMY's 0.18% expense ratio.

Dividends

AMUB vs. BSMY - Dividend Comparison

AMUB has not paid dividends to shareholders, while BSMY's dividend yield for the trailing twelve months is around 3.49%.

Position	TTM	2025	2024
AMUB ETRACS Alerian MLP Index ETN Class B	0.00%	0.00%	0.00%
BSMY Invesco BulletShares 2034 Municipal Bond ETF	3.49%	3.31%	0.79%

Frequently Asked Questions

Can I hold both AMUB and BSMY in my portfolio?

AMUB and BSMY have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMUB or BSMY?

AMUB has higher volatility (6.18%) compared to BSMY (1.03%). In terms of maximum drawdown, AMUB dropped -79.46% vs BSMY's -6.81%.

Which ETF is better, AMUB or BSMY?

On 1-year performance, AMUB leads with 17.43% vs 7.54% for BSMY. On fees, BSMY is cheaper at 0.18% per year. On volatility, BSMY has been the lower-risk option at 1.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AMUB or BSMY?

Over the 1-year period, AMUB has performed better with a 17.43% return vs 7.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMUB or BSMY?

BSMY is cheaper with a 0.18% expense ratio, compared with 0.80% for AMUB.

Which ETF pays a higher dividend yield, AMUB or BSMY?

BSMY has the higher dividend yield at 3.49%, compared with 0.00% for AMUB.

What is the main difference between AMUB and BSMY?

AMUB is categorized as MLPs, while BSMY is Municipal Bonds. AMUB tracks Alerian MLP Index, while BSMY tracks Invesco BulletShares USD Municipal Bond 2034 Index. They also come from different issuers: UBS and Invesco. Their fees differ too: 0.80% for AMUB and 0.18% for BSMY.

Which has better risk-adjusted returns?

BSMY currently has the higher Sharpe Ratio (2.17 vs 1.22), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.