BSMQ vs. FUMB
BSMQ (Invesco BulletShares 2026 Municipal Bond ETF) and FUMB (First Trust Ultra Short Duration Municipal ETF) are both Municipal Bonds funds. BSMQ is passively managed, while FUMB is actively managed. Over the past 5 years, BSMQ returned 0.24%/yr vs 1.99%/yr for FUMB. Their 0.19 correlation means their historical movements had little consistent relationship. BSMQ charges 0.18%/yr vs 0.45%/yr for FUMB.
Performance
BSMQ vs. FUMB - Performance Comparison
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Returns By Period
In the year-to-date period, BSMQ achieves a 1.17% return, which is significantly lower than FUMB's 1.39% return.
BSMQ
- 1D
- -0.04%
- 1M
- 0.16%
- 6M
- 0.98%
- YTD
- 1.17%
- 1Y
- 2.89%
- 3Y*
- 3.04%
- 5Y*
- 0.24%
- 10Y*
- —
- ALL TIME*
- 1.21%
FUMB
- 1D
- -0.07%
- 1M
- -0.01%
- 6M
- 0.86%
- YTD
- 1.39%
- 1Y
- 2.19%
- 3Y*
- 2.92%
- 5Y*
- 1.99%
- 10Y*
- —
- ALL TIME*
- 1.78%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $709.45K | $1.45M | $1.55M | |
| $985.06K | $934.27K | $1.49M |
BSMQ vs. FUMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BSMQ Invesco BulletShares 2026 Municipal Bond ETF | 1.17% | 3.12% | 1.99% | 3.60% | -7.62% | 1.05% | 5.26% | 0.28% |
FUMB First Trust Ultra Short Duration Municipal ETF | 1.39% | 2.78% | 3.05% | 2.84% | -0.03% | 0.38% | 1.25% | 0.40% |
Correlation
The correlation between BSMQ and FUMB is 0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.04 |
Correlation (3Y) Balances recent behavior with more history. | 0.16 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.23 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019 | 0.19 |
The correlation between BSMQ and FUMB shifts across timeframes, from 0.04 (1 year) to 0.23 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
BSMQ vs. FUMB — Risk / Return Rank
BSMQ
FUMB
BSMQ vs. FUMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2026 Municipal Bond ETF (BSMQ) and First Trust Ultra Short Duration Municipal ETF (FUMB). 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 | FUMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.39 | ||
| Sortino ratioReturn per unit of downside risk | -0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.56 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 9.81 | 9.61 | +0.20 |
| Martin ratioReturn relative to average drawdown | 26.08 | 32.75 | -6.66 |
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Drawdowns
BSMQ vs. FUMB - Drawdown Comparison
The maximum BSMQ drawdown since its inception was -13.18%, which is greater than FUMB's maximum drawdown of -2.68%. Use the drawdown chart below to compare losses from any high point for BSMQ and FUMB.
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Drawdown Indicators
| BSMQ | FUMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.18% | -2.68% | -10.50% |
Max Drawdown (1Y)Largest decline over 1 year | -0.30% | -0.23% | -0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -2.05% | -0.60% | -1.45% |
Max Drawdown (5Y)Largest decline over 5 years | -11.50% | -1.25% | -10.25% |
Current DrawdownCurrent decline from peak | -0.04% | -0.23% | +0.19% |
Average DrawdownAverage peak-to-trough decline | -3.39% | -0.19% | -3.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.11% | 0.07% | +0.04% |
Volatility
BSMQ vs. FUMB - Volatility Comparison
The current volatility for Invesco BulletShares 2026 Municipal Bond ETF (BSMQ) is 0.26%, while First Trust Ultra Short Duration Municipal ETF (FUMB) has a volatility of 0.35%. This indicates that BSMQ experiences smaller price fluctuations and is considered to be less risky than FUMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSMQ | FUMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.26% | 0.35% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 0.86% | 0.62% | +0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.30% | 0.84% | +0.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.65% | 1.18% | +1.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.73% | 1.75% | +2.98% |
BSMQ vs. FUMB - Expense Ratio Comparison
BSMQ has a 0.18% expense ratio, which is lower than FUMB's 0.45% expense ratio.
Dividends
BSMQ vs. FUMB - Dividend Comparison
BSMQ's dividend yield for the trailing twelve months is around 2.75%, which matches FUMB's 2.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BSMQ Invesco BulletShares 2026 Municipal Bond ETF | 2.75% | 2.74% | 2.75% | 2.47% | 1.60% | 1.14% | 1.57% | 0.44% | 0.00% |
FUMB First Trust Ultra Short Duration Municipal ETF | 2.75% | 2.90% | 2.86% | 2.24% | 1.02% | 0.43% | 0.94% | 1.74% | 0.15% |
Frequently Asked Questions
BSMQ and FUMB have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FUMB has higher volatility (0.35%) compared to BSMQ (0.26%). In terms of maximum drawdown, BSMQ dropped -13.18% vs FUMB's -2.68%.
On 5-year performance, FUMB leads with 1.99% vs 0.24% for BSMQ. On fees, BSMQ is cheaper at 0.18% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FUMB has performed better with a 1.99% return vs 0.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BSMQ is cheaper with a 0.18% expense ratio, compared with 0.45% for FUMB.
BSMQ and FUMB have nearly identical dividend yields, around 2.75%.
They also come from different issuers: Invesco and First Trust. Their fees differ too: 0.18% for BSMQ and 0.45% for FUMB.
FUMB currently has the higher Sharpe Ratio (2.63 vs 2.24), 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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