BSMO vs. MUNI
Compare and contrast key facts about Invesco BulletShares 2024 Municipal Bond ETF (BSMO) and PIMCO Intermediate Municipal Bond Active ETF (MUNI).
BSMO and MUNI 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. MUNI is an actively managed fund by PIMCO. It was launched on Nov 30, 2009.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BSMO or MUNI.
Key characteristics
| BSMO | MUNI | |
|---|---|---|
| YTD Return | 1.82% | 1.34% |
| 1Y Return | 2.53% | 6.42% |
| 3Y Return (Ann) | 0.62% | 0.37% |
| 5Y Return (Ann) | 1.37% | 1.41% |
| Sharpe Ratio | 1.71 | 2.07 |
| Sortino Ratio | 2.60 | 3.10 |
| Omega Ratio | 1.33 | 1.43 |
| Calmar Ratio | 2.18 | 1.16 |
| Martin Ratio | 14.11 | 9.95 |
| Ulcer Index | 0.19% | 0.69% |
| Daily Std Dev | 1.60% | 3.32% |
| Max Drawdown | -9.06% | -11.15% |
| Current Drawdown | -0.12% | -1.51% |
Correlation
The correlation between BSMO and MUNI is 0.37, 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. MUNI - Performance Comparison
In the year-to-date period, BSMO achieves a 1.82% return, which is significantly higher than MUNI's 1.34% 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. MUNI - Expense Ratio Comparison
BSMO has a 0.18% expense ratio, which is lower than MUNI's 0.35% expense ratio.
Risk-Adjusted Performance
BSMO vs. MUNI - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2024 Municipal Bond ETF (BSMO) and PIMCO Intermediate Municipal Bond Active ETF (MUNI). 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. MUNI - Dividend Comparison
BSMO's dividend yield for the trailing twelve months is around 2.53%, less than MUNI's 4.03% 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% |
MUNI PIMCO Intermediate Municipal Bond Active ETF | 4.03% | 3.63% | 2.13% | 1.62% | 1.92% | 2.44% | 2.57% | 2.37% | 2.37% | 2.20% | 1.91% | 2.30% |
Drawdowns
BSMO vs. MUNI - Drawdown Comparison
The maximum BSMO drawdown since its inception was -9.06%, smaller than the maximum MUNI drawdown of -11.15%. Use the drawdown chart below to compare losses from any high point for BSMO and MUNI. For additional features, visit the drawdowns tool.
Volatility
BSMO vs. MUNI - Volatility Comparison
The current volatility for Invesco BulletShares 2024 Municipal Bond ETF (BSMO) is 0.52%, while PIMCO Intermediate Municipal Bond Active ETF (MUNI) has a volatility of 1.60%. This indicates that BSMO experiences smaller price fluctuations and is considered to be less risky than MUNI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.