BSMP vs. CGSM

Last updated Jun 5, 2026

BSMP (Invesco BulletShares 2025 Municipal Bond ETF) and CGSM (Capital Group Short Duration Municipal Income ETF) are both Municipal Bonds funds. BSMP is passively managed, while CGSM is actively managed. At a 0.24 correlation, their price movements are largely independent. BSMP charges 0.18%/yr vs 0.25%/yr for CGSM.

Performance

BSMP vs. CGSM - Performance Comparison

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

Returns By Period

BSMP

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

CGSM

• 1D: 0.08%
• 1M: 0.46%
• YTD: 1.37%
• 6M: 1.64%
• 1Y: 4.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BSMP vs. CGSM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BSMP Invesco BulletShares 2025 Municipal Bond ETF	0.00%	2.27%	2.46%	2.78%
CGSM Capital Group Short Duration Municipal Income ETF	1.37%	4.58%	3.71%	4.04%

Correlation

The correlation between BSMP and CGSM is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.01
Correlation (All Time) Calculated using the full available price history since Sep 29, 2023	0.24

Over the past year, the correlation between BSMP and CGSM has dropped to 0.01 - well below their long-term average of 0.24, suggesting their price drivers have been diverging.

Return for Risk

BSMP vs. CGSM — Risk / Return Rank

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

CGSM

CGSM Risk / Return Rank: 87
CGSM Sharpe Ratio Rank: 94
CGSM Sortino Ratio Rank: 96
CGSM Omega Ratio Rank: 96
CGSM Calmar Ratio Rank: 79
CGSM Martin Ratio Rank: 71

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. CGSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2025 Municipal Bond ETF (BSMP) and Capital Group Short Duration Municipal Income ETF (CGSM). 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	CGSM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.52	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	2.89	—

Drawdowns

Drawdown Indicators

	BSMP	CGSM	Difference
Max Drawdown Largest peak-to-trough decline	—	-1.42%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-1.18%	—
Current Drawdown Current decline from peak	—	-0.14%	—
Average Drawdown Average peak-to-trough decline	—	-0.24%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.36%	—

Volatility

Volatility by Period

	BSMP	CGSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.43%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.98%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	1.33%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	1.79%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	1.79%	—

BSMP vs. CGSM - Expense Ratio Comparison

BSMP has a 0.18% expense ratio, which is lower than CGSM's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

BSMP vs. CGSM - Dividend Comparison

BSMP's dividend yield for the trailing twelve months is around 1.27%, less than CGSM's 2.99% 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%
CGSM Capital Group Short Duration Municipal Income ETF	2.99%	3.05%	3.11%	0.84%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BSMP and CGSM in my portfolio?

BSMP and CGSM have a correlation of 0.01, 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 CGSM?

On fees, BSMP is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BSMP or CGSM?

BSMP is cheaper with a 0.18% expense ratio, compared with 0.25% for CGSM.

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

CGSM has the higher dividend yield at 2.99%, compared with 1.27% for BSMP.

What is the main difference between BSMP and CGSM?

They also come from different issuers: Invesco and Capital Group. Their fees differ too: 0.18% for BSMP and 0.25% for CGSM.