BSMP vs. ZMUN

Last updated Jun 5, 2026

BSMP (Invesco BulletShares 2025 Municipal Bond ETF) and ZMUN (F/m Ultrashort Tax-Free Municipal ETF) are both Municipal Bonds funds - BSMP tracks the Invesco BulletShares Municipal Bond 2025 Index while ZMUN tracks the Bloomberg Municipal Bond Currently Callable Index. Both are passively managed. At a 0.14 correlation, their price movements are largely independent. BSMP charges 0.18%/yr vs 0.30%/yr for ZMUN.

Performance

BSMP vs. ZMUN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco BulletShares 2025 Municipal Bond ETF (BSMP) and F/m Ultrashort Tax-Free Municipal ETF (ZMUN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BSMP

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

ZMUN

• 1D: 0.04%
• 1M: 0.31%
• YTD: 1.61%
• 6M: 1.88%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BSMP vs. ZMUN - Yearly Performance Comparison

	2026 (YTD)	2025
BSMP Invesco BulletShares 2025 Municipal Bond ETF	0.00%	0.27%
ZMUN F/m Ultrashort Tax-Free Municipal ETF	1.61%	0.73%

Correlation

The correlation between BSMP and ZMUN is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 1, 2025	0.14

Return for Risk

BSMP vs. ZMUN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2025 Municipal Bond ETF (BSMP) and F/m Ultrashort Tax-Free Municipal ETF (ZMUN). 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	ZMUN	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	—	6.54	—

Drawdowns

Drawdown Indicators

	BSMP	ZMUN	Difference
Max Drawdown Largest peak-to-trough decline	—	-0.09%	—
Current Drawdown Current decline from peak	—	0.00%	—
Average Drawdown Average peak-to-trough decline	—	-0.01%	—

Volatility

Volatility by Period

	BSMP	ZMUN	Difference
Volatility (1Y) Calculated over the trailing 1-year period	—	0.54%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	0.54%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	0.54%	—

BSMP vs. ZMUN - Expense Ratio Comparison

BSMP has a 0.18% expense ratio, which is lower than ZMUN's 0.30% expense ratio.

Dividends

BSMP vs. ZMUN - Dividend Comparison

BSMP's dividend yield for the trailing twelve months is around 1.27%, less than ZMUN's 2.28% 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%
ZMUN F/m Ultrashort Tax-Free Municipal ETF	2.28%	0.70%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BSMP and ZMUN in my portfolio?

BSMP and ZMUN have a correlation of 0.14, 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 ZMUN?

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 ZMUN?

BSMP is cheaper with a 0.18% expense ratio, compared with 0.30% for ZMUN.

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

ZMUN has the higher dividend yield at 2.28%, compared with 1.27% for BSMP.

What is the main difference between BSMP and ZMUN?

BSMP tracks Invesco BulletShares Municipal Bond 2025 Index, while ZMUN tracks Bloomberg Municipal Bond Currently Callable Index. They also come from different issuers: Invesco and F/m Investments. Their fees differ too: 0.18% for BSMP and 0.30% for ZMUN.