BSMO vs. MUB
Compare and contrast key facts about Invesco BulletShares 2024 Municipal Bond ETF (BSMO) and iShares National AMT-Free Muni Bond ETF (MUB).
BSMO and MUB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BSMO is a passively managed fund by Invesco that tracks the performance of the Invesco BulletShares Municipal Bond 2024 Index. It was launched on Sep 25, 2019. MUB is a passively managed fund by iShares that tracks the performance of the S&P National AMT-Free Municipal Bond Index. It was launched on Sep 7, 2007. Both BSMO and MUB are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BSMO or MUB.
Key characteristics
| BSMO | MUB | |
|---|---|---|
| YTD Return | 1.88% | 1.53% |
| 1Y Return | 2.92% | 6.76% |
| 3Y Return (Ann) | 0.64% | -0.09% |
| 5Y Return (Ann) | 1.41% | 1.23% |
| Sharpe Ratio | 1.81 | 1.79 |
| Sortino Ratio | 2.75 | 2.62 |
| Omega Ratio | 1.35 | 1.35 |
| Calmar Ratio | 2.03 | 0.95 |
| Martin Ratio | 14.87 | 7.70 |
| Ulcer Index | 0.19% | 0.92% |
| Daily Std Dev | 1.60% | 3.98% |
| Max Drawdown | -9.06% | -13.68% |
| Current Drawdown | 0.00% | -1.25% |
Correlation
The correlation between BSMO and MUB is 0.38, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
BSMO vs. MUB - Performance Comparison
In the year-to-date period, BSMO achieves a 1.88% return, which is significantly higher than MUB's 1.53% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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BSMO vs. MUB - Expense Ratio Comparison
BSMO has a 0.18% expense ratio, which is higher than MUB's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
BSMO vs. MUB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2024 Municipal Bond ETF (BSMO) and iShares National AMT-Free Muni Bond ETF (MUB). 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.
Dividends
BSMO vs. MUB - Dividend Comparison
BSMO's dividend yield for the trailing twelve months is around 2.53%, less than MUB's 2.95% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSMO Invesco BulletShares 2024 Municipal Bond ETF | 2.53% | 2.24% | 0.98% | 0.58% | 1.13% | 0.33% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MUB iShares National AMT-Free Muni Bond ETF | 2.95% | 2.65% | 2.11% | 1.81% | 2.11% | 2.42% | 2.46% | 2.26% | 2.21% | 2.51% | 2.73% | 3.02% |
Drawdowns
BSMO vs. MUB - Drawdown Comparison
The maximum BSMO drawdown since its inception was -9.06%, smaller than the maximum MUB drawdown of -13.68%. Use the drawdown chart below to compare losses from any high point for BSMO and MUB. For additional features, visit the drawdowns tool.
Volatility
BSMO vs. MUB - Volatility Comparison
The current volatility for Invesco BulletShares 2024 Municipal Bond ETF (BSMO) is 0.52%, while iShares National AMT-Free Muni Bond ETF (MUB) has a volatility of 1.96%. This indicates that BSMO experiences smaller price fluctuations and is considered to be less risky than MUB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.