BSMP vs. BSMQ

Last updated Jun 5, 2026

BSMP (Invesco BulletShares 2025 Municipal Bond ETF) and BSMQ (Invesco BulletShares 2026 Municipal Bond ETF) are both Municipal Bonds funds from Invesco - BSMP tracks the Invesco BulletShares Municipal Bond 2025 Index while BSMQ tracks the Invesco BulletShares Municipal Bond 2026 Index. Both are passively managed. At a 0.48 correlation, their price movements are largely independent. Both charge a 0.18% expense ratio.

Performance

BSMP vs. BSMQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco BulletShares 2025 Municipal Bond ETF (BSMP) and Invesco BulletShares 2026 Municipal Bond ETF (BSMQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BSMP

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BSMQ

• 1D: 0.07%
• 1M: 0.17%
• YTD: 0.81%
• 6M: 1.18%
• 1Y: 2.98%
• 3Y*: 2.90%
• 5Y*: 0.31%
• 10Y*: —

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

BSMP vs. BSMQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
BSMP Invesco BulletShares 2025 Municipal Bond ETF	0.00%	2.27%	2.46%	3.14%	-5.09%	0.60%	4.91%	0.58%
BSMQ Invesco BulletShares 2026 Municipal Bond ETF	0.81%	3.12%	1.99%	3.60%	-7.62%	1.05%	5.26%	0.24%

Correlation

The correlation between BSMP and BSMQ is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (All Time) Calculated using the full available price history since Sep 27, 2019	0.48

Over the past year, the correlation between BSMP and BSMQ has dropped to 0.20 - well below their long-term average of 0.48, suggesting their price drivers have been diverging.

BSMP vs. BSMQ - Sectors Allocation Comparison

Sectors	BSMP	BSMQ
Financial Services	50.3%	2.6%
Real Estate	2.7%	-
Industrials	0.4%	-
Consumer Cyclical	0.0%	0.0%
Communication Services	0.0%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Technology	-	0.0%
Utilities	-	-

Return for Risk

BSMP vs. BSMQ — Risk / Return Rank

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

BSMQ

BSMQ Risk / Return Rank: 84
BSMQ Sharpe Ratio Rank: 70
BSMQ Sortino Ratio Rank: 81
BSMQ Omega Ratio Rank: 80
BSMQ Calmar Ratio Rank: 96
BSMQ Martin Ratio Rank: 93

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.

BSMP vs. BSMQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2025 Municipal Bond ETF (BSMP) and Invesco BulletShares 2026 Municipal Bond ETF (BSMQ). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	BSMP	BSMQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.26	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.12	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.25	—

Drawdowns

Drawdown Indicators

	BSMP	BSMQ	Difference
Max Drawdown Largest peak-to-trough decline	—	-13.18%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-0.33%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-2.53%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-11.50%	—
Current Drawdown Current decline from peak	—	-0.05%	—
Average Drawdown Average peak-to-trough decline	—	-3.47%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.12%	—

Volatility

Volatility by Period

	BSMP	BSMQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.40%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.94%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	1.33%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	2.68%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	4.79%	—

BSMP vs. BSMQ - Expense Ratio Comparison

Both BSMP and BSMQ have an expense ratio of 0.18%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

BSMP vs. BSMQ - Dividend Comparison

BSMP's dividend yield for the trailing twelve months is around 1.27%, less than BSMQ's 2.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BSMP Invesco BulletShares 2025 Municipal Bond ETF	1.27%	2.35%	2.53%	2.20%	1.23%	0.72%	1.32%	0.35%
BSMQ Invesco BulletShares 2026 Municipal Bond ETF	2.76%	2.74%	2.75%	2.47%	1.60%	1.14%	1.57%	0.44%

Frequently Asked Questions

Can I hold both BSMP and BSMQ in my portfolio?

BSMP and BSMQ have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BSMP or BSMQ?

Both ETFs have the same 0.18% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BSMP or BSMQ?

BSMP and BSMQ have the same expense ratio: 0.18% per year.

Which ETF pays a higher dividend yield, BSMP or BSMQ?

BSMQ has the higher dividend yield at 2.76%, compared with 1.27% for BSMP.

What is the main difference between BSMP and BSMQ?

BSMP tracks Invesco BulletShares Municipal Bond 2025 Index, while BSMQ tracks Invesco BulletShares Municipal Bond 2026 Index.