BSMP vs. CA

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco BulletShares 2025 Municipal Bond ETF (BSMP) and Xtrackers California Municipal Bond ETF (CA).

BSMP and CA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BSMP is a passively managed fund by Invesco that tracks the performance of the Invesco BulletShares Municipal Bond 2025 Index. It was launched on Sep 25, 2019. CA is a passively managed fund by Xtrackers that tracks the performance of the ICE AMT-Free Broad Liquid California Municipal Index - Benchmark TR Gross. It was launched on Dec 13, 2023. Both BSMP and CA are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

BSMP vs. CA - Performance Comparison

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

BSMP vs. CA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BSMP Invesco BulletShares 2025 Municipal Bond ETF	0.00%	2.27%	2.46%	0.21%
CA Xtrackers California Municipal Bond ETF	-0.08%	3.05%	1.51%	0.79%

Returns By Period

BSMP

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

CA

• 1D: 0.38%
• 1M: -2.00%
• YTD: -0.08%
• 6M: 1.22%
• 1Y: 3.88%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BSMP vs. CA - Expense Ratio Comparison

BSMP has a 0.18% expense ratio, which is higher than CA'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%.

BSMP

Invesco BulletShares 2025 Municipal Bond ETF

CA

Xtrackers California Municipal Bond ETF

Return for Risk

BSMP vs. CA — Risk / Return Rank

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

CA

CA Risk / Return Rank: 45
CA Sharpe Ratio Rank: 48
CA Sortino Ratio Rank: 41
CA Omega Ratio Rank: 56
CA Calmar Ratio Rank: 44
CA Martin Ratio Rank: 36

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. CA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2025 Municipal Bond ETF (BSMP) and Xtrackers California Municipal Bond ETF (CA). 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	CA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.89	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.57	—

Correlation

The correlation between BSMP and CA is 0.25, 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.

Dividends

BSMP vs. CA - Dividend Comparison

BSMP's dividend yield for the trailing twelve months is around 1.72%, less than CA's 3.20% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
BSMP Invesco BulletShares 2025 Municipal Bond ETF	1.72%	2.35%	2.53%	2.20%	1.23%	0.72%	1.32%	0.35%
CA Xtrackers California Municipal Bond ETF	3.20%	3.14%	3.03%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

Drawdown Indicators

	BSMP	CA	Difference
Max Drawdown Largest peak-to-trough decline	—	-5.24%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-3.67%	—
Current Drawdown Current decline from peak	—	-2.00%	—
Average Drawdown Average peak-to-trough decline	—	-1.30%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.28%	—

Volatility

Volatility by Period

	BSMP	CA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.31%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.78%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	4.40%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	4.09%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	4.09%	—