BSMQ vs. BKMS

Last updated Jul 15, 2026

BSMQ (Invesco BulletShares 2026 Municipal Bond ETF) and BKMS (BNY Mellon Municipal Short Duration ETF) are both Municipal Bonds funds. BSMQ is passively managed, while BKMS is actively managed. At a 0.12 correlation, their price movements are largely independent. BSMQ charges 0.18%/yr vs 0.35%/yr for BKMS.

Performance

BSMQ vs. BKMS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco BulletShares 2026 Municipal Bond ETF (BSMQ) and BNY Mellon Municipal Short Duration ETF (BKMS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BSMQ

• 1D: 0.08%
• 1M: 0.23%
• 6M: 1.07%
• YTD: 1.14%
• 1Y: 2.85%
• 3Y*: 2.83%
• 5Y*: 0.27%
• 10Y*: —

BKMS

• 1D: 0.03%
• 1M: 0.14%
• 6M: 0.79%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BSMQ vs. BKMS - Yearly Performance Comparison

	2026 (YTD)
BSMQ Invesco BulletShares 2026 Municipal Bond ETF	1.01%
BKMS BNY Mellon Municipal Short Duration ETF	0.79%

Correlation

The correlation between BSMQ and BKMS is 0.12, 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 Jan 12, 2026	0.12

Return for Risk

BSMQ vs. BKMS — Risk / Return Rank

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

BSMQ

BSMQ Risk / Return Rank: 92
BSMQ Sharpe Ratio Rank: 86
BSMQ Sortino Ratio Rank: 92
BSMQ Omega Ratio Rank: 90
BSMQ Calmar Ratio Rank: 98
BSMQ Martin Ratio Rank: 96

BKMS

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

BSMQ vs. BKMS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2026 Municipal Bond ETF (BSMQ) and BNY Mellon Municipal Short Duration ETF (BKMS). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BSMQ	BKMS	Difference
Sharpe ratio: Return per unit of total volatility	2.21	—	—
Sortino ratio: Return per unit of downside risk	3.61	—	—
Omega ratio: Gain probability vs. loss probability	1.45	—	—
Calmar ratio: Return relative to maximum drawdown	9.67	—	—
Martin ratio: Return relative to average drawdown	25.72	—	—

Drawdowns

BSMQ vs. BKMS - Drawdown Comparison

The maximum BSMQ drawdown since its inception was -13.18%, which is greater than BKMS's maximum drawdown of -0.87%. Use the drawdown chart below to compare losses from any high point for BSMQ and BKMS.

Drawdown Indicators

	BSMQ	BKMS	Difference
Max Drawdown Largest peak-to-trough decline	-13.18%	-0.87%	-12.31%
Max Drawdown (1Y) Largest decline over 1 year	-0.30%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-2.53%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-11.50%	—	—
Current Drawdown Current decline from peak	0.00%	-0.14%	+0.14%
Average Drawdown Average peak-to-trough decline	-3.42%	-0.24%	-3.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.11%	—	—

Volatility

Volatility by Period

	BSMQ	BKMS	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.34%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.90%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.30%	1.25%	+0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.66%	1.25%	+1.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.75%	1.25%	+3.50%

BSMQ vs. BKMS - Expense Ratio Comparison

BSMQ has a 0.18% expense ratio, which is lower than BKMS's 0.35% expense ratio.

Dividends

BSMQ vs. BKMS - Dividend Comparison

BSMQ's dividend yield for the trailing twelve months is around 2.75%, more than BKMS's 1.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BKMS BNY Mellon Municipal Short Duration ETF	1.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
BSMQ Invesco BulletShares 2026 Municipal Bond ETF	2.75%	2.74%	2.75%	2.47%	1.60%	1.14%	1.57%	0.44%

Frequently Asked Questions

Can I hold both BSMQ and BKMS in my portfolio?

BSMQ and BKMS 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, BSMQ or BKMS?

On fees, BSMQ 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, BSMQ or BKMS?

BSMQ is cheaper with a 0.18% expense ratio, compared with 0.35% for BKMS.

Which ETF pays a higher dividend yield, BSMQ or BKMS?

BSMQ has the higher dividend yield at 2.75%, compared with 1.36% for BKMS.

What is the main difference between BSMQ and BKMS?

They also come from different issuers: Invesco and BNY Mellon. Their fees differ too: 0.18% for BSMQ and 0.35% for BKMS.