BSMP vs. FMUN

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco BulletShares 2025 Municipal Bond ETF (BSMP) and Fidelity Systematic Municipal Bond Index ETF (FMUN).

BSMP and FMUN 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. FMUN is an actively managed fund by Fidelity. It was launched on Jul 11, 2019.

Performance

BSMP vs. FMUN - Performance Comparison

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

BSMP vs. FMUN - Yearly Performance Comparison

	2026 (YTD)	2025
BSMP Invesco BulletShares 2025 Municipal Bond ETF	0.00%	1.96%
FMUN Fidelity Systematic Municipal Bond Index ETF	-0.40%	4.25%

Returns By Period

BSMP

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

FMUN

• 1D: 0.22%
• 1M: -2.71%
• YTD: -0.40%
• 6M: 1.25%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BSMP vs. FMUN - Expense Ratio Comparison

BSMP has a 0.18% expense ratio, which is higher than FMUN's 0.05% 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

FMUN

Fidelity Systematic Municipal Bond Index ETF

Return for Risk

BSMP vs. FMUN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2025 Municipal Bond ETF (BSMP) and Fidelity Systematic Municipal Bond Index ETF (FMUN). 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	FMUN	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.95	—

Correlation

The correlation between BSMP and FMUN is 0.21, 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. FMUN - Dividend Comparison

BSMP's dividend yield for the trailing twelve months is around 1.72%, less than FMUN's 3.25% 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%
FMUN Fidelity Systematic Municipal Bond Index ETF	3.25%	2.41%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

Drawdown Indicators

	BSMP	FMUN	Difference
Max Drawdown Largest peak-to-trough decline	—	-3.21%	—
Current Drawdown Current decline from peak	—	-2.71%	—
Average Drawdown Average peak-to-trough decline	—	-0.67%	—

Volatility

Volatility by Period

	BSMP	FMUN	Difference
Volatility (1Y) Calculated over the trailing 1-year period	—	4.16%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	4.16%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	4.16%	—