BSMQ vs. BSMU
BSMQ (Invesco BulletShares 2026 Municipal Bond ETF) and BSMU (Invesco BulletShares 2030 Municipal Bond ETF) are both Municipal Bonds funds from Invesco - BSMQ tracks the Invesco BulletShares Municipal Bond 2026 Index while BSMU tracks the Invesco Bulletshares Municipal Bond 2030 Index. Both are passively managed. Over the past 5 years, BSMQ returned 0.38%/yr vs -0.64%/yr for BSMU. A 0.59 correlation means they provide meaningful diversification when combined. Both charge a 0.18% expense ratio.
Performance
BSMQ vs. BSMU - Performance Comparison
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Returns By Period
In the year-to-date period, BSMQ achieves a 1.09% return, which is significantly higher than BSMU's 0.71% return.
BSMQ
- 1D
- 0.13%
- 1M
- 0.36%
- YTD
- 1.09%
- 6M
- 1.21%
- 1Y
- 3.07%
- 3Y*
- 2.82%
- 5Y*
- 0.38%
- 10Y*
- —
BSMU
- 1D
- 0.00%
- 1M
- 0.89%
- YTD
- 0.71%
- 6M
- 0.84%
- 1Y
- 4.91%
- 3Y*
- 2.69%
- 5Y*
- -0.64%
- 10Y*
- —
BSMQ vs. BSMU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BSMQ Invesco BulletShares 2026 Municipal Bond ETF | 1.09% | 3.12% | 1.99% | 3.60% | -7.62% | 1.05% | 2.18% |
BSMU Invesco BulletShares 2030 Municipal Bond ETF | 0.71% | 4.35% | -0.29% | 6.31% | -13.76% | 1.88% | 4.00% |
Correlation
The correlation between BSMQ and BSMU is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 2020 | 0.59 |
Over the past year, the correlation between BSMQ and BSMU has dropped to 0.20 - well below their long-term average of 0.59, suggesting their price drivers have been diverging.
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Return for Risk
BSMQ vs. BSMU — Risk / Return Rank
BSMQ
BSMU
BSMQ vs. BSMU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2026 Municipal Bond ETF (BSMQ) and Invesco BulletShares 2030 Municipal Bond ETF (BSMU). 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 | BSMU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.50 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 9.40 | 2.39 | +7.01 |
| Martin ratioReturn relative to average drawdown | 24.86 | 7.07 | +17.79 |
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Drawdowns
BSMQ vs. BSMU - Drawdown Comparison
The maximum BSMQ drawdown since its inception was -13.18%, smaller than the maximum BSMU drawdown of -19.48%. Use the drawdown chart below to compare losses from any high point for BSMQ and BSMU.
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Drawdown Indicators
| BSMQ | BSMU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.18% | -19.48% | +6.30% |
Max Drawdown (1Y)Largest decline over 1 year | -0.33% | -2.06% | +1.73% |
Max Drawdown (3Y)Largest decline over 3 years | -2.53% | -5.92% | +3.39% |
Max Drawdown (5Y)Largest decline over 5 years | -11.50% | -19.48% | +7.98% |
Current DrawdownCurrent decline from peak | 0.00% | -4.69% | +4.69% |
Average DrawdownAverage peak-to-trough decline | -3.45% | -8.16% | +4.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.12% | 0.70% | -0.58% |
Volatility
BSMQ vs. BSMU - Volatility Comparison
The current volatility for Invesco BulletShares 2026 Municipal Bond ETF (BSMQ) is 0.39%, while Invesco BulletShares 2030 Municipal Bond ETF (BSMU) has a volatility of 0.70%. This indicates that BSMQ experiences smaller price fluctuations and is considered to be less risky than BSMU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSMQ | BSMU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.39% | 0.70% | -0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 0.94% | 1.56% | -0.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.32% | 2.15% | -0.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.67% | 4.82% | -2.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.77% | 4.83% | -0.06% |
BSMQ vs. BSMU - Expense Ratio Comparison
Both BSMQ and BSMU have an expense ratio of 0.18%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
BSMQ vs. BSMU - Dividend Comparison
BSMQ's dividend yield for the trailing twelve months is around 2.75%, less than BSMU's 2.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BSMQ Invesco BulletShares 2026 Municipal Bond ETF | 2.75% | 2.74% | 2.75% | 2.47% | 1.60% | 1.14% | 1.57% | 0.44% |
BSMU Invesco BulletShares 2030 Municipal Bond ETF | 2.79% | 2.82% | 2.92% | 2.66% | 2.16% | 1.60% | 0.28% | 0.00% |
Frequently Asked Questions
BSMQ and BSMU have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BSMU has higher volatility (0.70%) compared to BSMQ (0.39%). In terms of maximum drawdown, BSMQ dropped -13.18% vs BSMU's -19.48%.
On 5-year performance, BSMQ leads with 0.38% vs -0.64% for BSMU. Both ETFs have the same 0.18% expense ratio. On volatility, BSMQ has been the lower-risk option at 0.39%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BSMQ has performed better with a 0.38% return vs -0.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BSMQ and BSMU have the same expense ratio: 0.18% per year.
BSMU has the higher dividend yield at 2.79%, compared with 2.75% for BSMQ.
BSMQ tracks Invesco BulletShares Municipal Bond 2026 Index, while BSMU tracks Invesco Bulletshares Municipal Bond 2030 Index.
BSMQ currently has the higher Sharpe Ratio (2.34 vs 2.29), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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