BCD vs. BSMV
BCD (abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF) and BSMV (Invesco BulletShares 2031 Municipal Bond ETF) are both exchange-traded funds - BCD is a Commodities fund actively managed by Aberdeen, while BSMV is a Municipal Bonds fund tracking the Invesco BulletShares Municipal Bond 2031 Index. BCD is actively managed, while BSMV is passively managed. Over the past 3 years, BCD returned 14.01%/yr vs 3.08%/yr for BSMV. At a correlation of -0.01, they often move in opposite directions. BCD charges 0.29%/yr vs 0.18%/yr for BSMV.
Performance
BCD vs. BSMV - Performance Comparison
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Returns By Period
In the year-to-date period, BCD achieves a 19.57% return, which is significantly higher than BSMV's 0.68% return.
BCD
- 1D
- -0.72%
- 1M
- -2.04%
- YTD
- 19.57%
- 6M
- 19.32%
- 1Y
- 30.65%
- 3Y*
- 14.01%
- 5Y*
- 11.82%
- 10Y*
- —
BSMV
- 1D
- 0.04%
- 1M
- 0.40%
- YTD
- 0.68%
- 6M
- 0.96%
- 1Y
- 5.82%
- 3Y*
- 3.08%
- 5Y*
- —
- 10Y*
- —
BCD vs. BSMV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BCD abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF | 19.57% | 15.71% | 6.20% | -7.58% | 18.38% | 6.29% |
BSMV Invesco BulletShares 2031 Municipal Bond ETF | 0.68% | 4.03% | -0.28% | 6.99% | -15.32% | 0.66% |
Correlation
The correlation between BCD and BSMV 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 (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2021 | -0.01 |
Over the past year, the inverse relationship between BCD and BSMV has strengthened: their correlation has moved from -0.01 to -0.23, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
BCD vs. BSMV — Risk / Return Rank
BCD
BSMV
BCD vs. BSMV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF (BCD) and Invesco BulletShares 2031 Municipal Bond ETF (BSMV). 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.
| BCD | BSMV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.48 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 4.26 | 2.09 | +2.17 |
| Martin ratioReturn relative to average drawdown | 12.04 | 6.48 | +5.56 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BCD | BSMV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.24 | 2.32 | -0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.77 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | -0.19 | +0.85 |
Drawdowns
BCD vs. BSMV - Drawdown Comparison
The maximum BCD drawdown since its inception was -29.81%, which is greater than BSMV's maximum drawdown of -20.68%. Use the drawdown chart below to compare losses from any high point for BCD and BSMV.
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Drawdown Indicators
| BCD | BSMV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.81% | -20.68% | -9.13% |
Max Drawdown (1Y)Largest decline over 1 year | -7.22% | -2.79% | -4.43% |
Max Drawdown (3Y)Largest decline over 3 years | -10.50% | -6.63% | -3.87% |
Max Drawdown (5Y)Largest decline over 5 years | -23.03% | — | — |
Current DrawdownCurrent decline from peak | -4.30% | -5.43% | +1.13% |
Average DrawdownAverage peak-to-trough decline | -9.85% | -10.44% | +0.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.55% | 0.90% | +1.65% |
Volatility
BCD vs. BSMV - Volatility Comparison
abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF (BCD) has a higher volatility of 4.38% compared to Invesco BulletShares 2031 Municipal Bond ETF (BSMV) at 0.82%. This indicates that BCD's price experiences larger fluctuations and is considered to be riskier than BSMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BCD | BSMV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.38% | 0.82% | +3.56% |
Volatility (6M)Calculated over the trailing 6-month period | 11.77% | 1.79% | +9.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.74% | 2.51% | +11.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.40% | 5.69% | +9.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.90% | 5.69% | +8.21% |
BCD vs. BSMV - Expense Ratio Comparison
BCD has a 0.29% expense ratio, which is higher than BSMV's 0.18% expense ratio.
Dividends
BCD vs. BSMV - Dividend Comparison
BCD's dividend yield for the trailing twelve months is around 14.40%, more than BSMV's 2.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BCD abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF | 14.40% | 17.21% | 3.60% | 4.51% | 5.21% | 8.30% | 1.29% | 1.55% | 1.59% | 0.07% |
BSMV Invesco BulletShares 2031 Municipal Bond ETF | 2.90% | 2.93% | 3.10% | 2.59% | 2.21% | 0.24% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BCD and BSMV 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.
BCD has higher volatility (4.38%) compared to BSMV (0.82%). In terms of maximum drawdown, BCD dropped -29.81% vs BSMV's -20.68%.
On 3-year performance, BCD leads with 14.01% vs 3.08% for BSMV. On fees, BSMV is cheaper at 0.18% per year. On volatility, BSMV has been the lower-risk option at 0.82%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BCD has performed better with a 14.01% return vs 3.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BSMV is cheaper with a 0.18% expense ratio, compared with 0.29% for BCD.
BCD has the higher dividend yield at 14.40%, compared with 2.90% for BSMV.
BCD is categorized as Commodities, while BSMV is Municipal Bonds. They also come from different issuers: Aberdeen and Invesco. Their fees differ too: 0.29% for BCD and 0.18% for BSMV.
BSMV currently has the higher Sharpe Ratio (2.32 vs 2.24), 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.
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