BSMP vs. UGA

Last updated Jun 5, 2026

BSMP (Invesco BulletShares 2025 Municipal Bond ETF) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - BSMP is a Municipal Bonds fund tracking the Invesco BulletShares Municipal Bond 2025 Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. At a correlation of -0.01, they often move in opposite directions. BSMP charges 0.18%/yr vs 0.75%/yr for UGA.

Performance

BSMP vs. UGA - Performance Comparison

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

Returns By Period

BSMP

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

UGA

• 1D: -2.73%
• 1M: -12.25%
• YTD: 70.69%
• 6M: 59.72%
• 1Y: 79.48%
• 3Y*: 20.80%
• 5Y*: 24.41%
• 10Y*: 14.27%

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

BSMP vs. UGA - 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%
UGA United States Gasoline Fund LP	70.69%	-2.00%	3.77%	1.27%	46.34%	68.49%	-24.88%	7.76%

Correlation

The correlation between BSMP and UGA is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.12
Correlation (3Y) Calculated over the trailing 3-year period	-0.04
Correlation (5Y) Calculated over the trailing 5-year period	-0.02
Correlation (All Time) Calculated using the full available price history since Sep 27, 2019	-0.01

The correlation between BSMP and UGA shifts across timeframes, from -0.12 (1 year) to -0.01 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BSMP vs. UGA — Risk / Return Rank

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

UGA

UGA Risk / Return Rank: 70
UGA Sharpe Ratio Rank: 71
UGA Sortino Ratio Rank: 58
UGA Omega Ratio Rank: 62
UGA Calmar Ratio Rank: 89
UGA Martin Ratio Rank: 70

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. UGA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2025 Municipal Bond ETF (BSMP) and United States Gasoline Fund LP (UGA). 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	UGA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.27	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.71	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.38	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.12	—

Drawdowns

Drawdown Indicators

	BSMP	UGA	Difference
Max Drawdown Largest peak-to-trough decline	—	-86.59%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-14.88%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-26.68%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-38.11%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-75.89%	—
Current Drawdown Current decline from peak	—	-14.75%	—
Average Drawdown Average peak-to-trough decline	—	-36.76%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	6.20%	—

Volatility

Volatility by Period

	BSMP	UGA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.64%	—
Volatility (6M) Calculated over the trailing 6-month period	—	30.48%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	35.27%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	34.40%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	37.27%	—

BSMP vs. UGA - Expense Ratio Comparison

BSMP has a 0.18% expense ratio, which is lower than UGA's 0.75% expense ratio.

Dividends

BSMP vs. UGA - Dividend Comparison

BSMP's dividend yield for the trailing twelve months is around 1.27%, while UGA has not paid dividends to shareholders.

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%
UGA United States Gasoline Fund LP	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BSMP and UGA in my portfolio?

BSMP and UGA have a correlation of -0.12, 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 UGA?

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 UGA?

BSMP is cheaper with a 0.18% expense ratio, compared with 0.75% for UGA.

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

BSMP has the higher dividend yield at 1.27%, compared with 0.00% for UGA.

What is the main difference between BSMP and UGA?

BSMP is categorized as Municipal Bonds, while UGA is Oil & Gas. BSMP tracks Invesco BulletShares Municipal Bond 2025 Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: Invesco and Concierge Technologies. Their fees differ too: 0.18% for BSMP and 0.75% for UGA.