BSMQ vs. FUMB

Last updated Jun 24, 2026

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 0.38%/yr vs 2.01%/yr for FUMB. At a 0.20 correlation, their price movements are largely independent. BSMQ charges 0.18%/yr vs 0.45%/yr for FUMB.

Performance

BSMQ vs. FUMB - Performance Comparison

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

Returns By Period

In the year-to-date period, BSMQ achieves a 1.09% return, which is significantly lower than FUMB's 1.30% return.

BSMQ

• 1D: 0.13%
• 1M: 0.36%
• YTD: 1.09%
• 6M: 1.21%
• 1Y: 3.07%
• 3Y*: 2.82%
• 5Y*: 0.38%
• 10Y*: —

FUMB

• 1D: -0.10%
• 1M: 0.30%
• YTD: 1.30%
• 6M: 1.25%
• 1Y: 2.65%
• 3Y*: 2.97%
• 5Y*: 2.01%
• 10Y*: —

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

BSMQ vs. FUMB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
BSMQ Invesco BulletShares 2026 Municipal Bond ETF	1.09%	3.12%	1.99%	3.60%	-7.62%	1.05%	5.26%	0.28%
FUMB First Trust Ultra Short Duration Municipal ETF	1.30%	2.78%	3.05%	2.84%	-0.03%	0.38%	1.25%	0.40%

Correlation

The correlation between BSMQ and FUMB is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.23
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019	0.20

The correlation between BSMQ and FUMB shifts across timeframes, from 0.05 (1 year) to 0.23 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

BSMQ vs. FUMB — Risk / Return Rank

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

BSMQ

BSMQ Risk / Return Rank: 89
BSMQ Sharpe Ratio Rank: 80
BSMQ Sortino Ratio Rank: 89
BSMQ Omega Ratio Rank: 87
BSMQ Calmar Ratio Rank: 97
BSMQ Martin Ratio Rank: 94

FUMB

FUMB Risk / Return Rank: 96
FUMB Sharpe Ratio Rank: 94
FUMB Sortino Ratio Rank: 96
FUMB Omega Ratio Rank: 96
FUMB Calmar Ratio Rank: 98
FUMB Martin Ratio Rank: 97

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. 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 ratio: Return per unit of total volatility	2.34	3.41	-1.07
Sortino ratio: Return per unit of downside risk	3.75	5.37	-1.62
Omega ratio: Gain probability vs. loss probability	1.49	1.77	-0.29
Calmar ratio: Return relative to maximum drawdown	9.40	12.17	-2.77
Martin ratio: Return relative to average drawdown	24.86	45.58	-20.72

BSMQ vs. FUMB - Sharpe Ratio Comparison

The current BSMQ Sharpe Ratio is 2.34, which is lower than the FUMB Sharpe Ratio of 3.41. The chart below compares the historical Sharpe Ratios of BSMQ and FUMB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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.

Drawdown Indicators

	BSMQ	FUMB	Difference
Max Drawdown Largest peak-to-trough decline	-13.18%	-2.68%	-10.50%
Max Drawdown (1Y) Largest decline over 1 year	-0.33%	-0.22%	-0.11%
Max Drawdown (3Y) Largest decline over 3 years	-2.53%	-0.60%	-1.93%
Max Drawdown (5Y) Largest decline over 5 years	-11.50%	-1.25%	-10.25%
Current Drawdown Current decline from peak	0.00%	-0.10%	+0.10%
Average Drawdown Average peak-to-trough decline	-3.45%	-0.19%	-3.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.12%	0.06%	+0.06%

Volatility

BSMQ vs. FUMB - Volatility Comparison

Invesco BulletShares 2026 Municipal Bond ETF (BSMQ) has a higher volatility of 0.39% compared to First Trust Ultra Short Duration Municipal ETF (FUMB) at 0.24%. This indicates that BSMQ's price experiences larger fluctuations and is considered to be riskier than FUMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BSMQ	FUMB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.39%	0.24%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	0.94%	0.56%	+0.38%
Volatility (1Y) Calculated over the trailing 1-year period	1.32%	0.78%	+0.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.67%	1.17%	+1.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.77%	1.76%	+3.01%

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%, less than FUMB's 2.79% 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	2.79%	2.90%	2.86%	2.24%	1.02%	0.43%	0.94%	1.74%	0.15%

Frequently Asked Questions

Can I hold both BSMQ and FUMB in my portfolio?

BSMQ and FUMB have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BSMQ or FUMB?

BSMQ has higher volatility (0.39%) compared to FUMB (0.24%). In terms of maximum drawdown, BSMQ dropped -13.18% vs FUMB's -2.68%.

Which ETF is better, BSMQ or FUMB?

On 5-year performance, FUMB leads with 2.01% vs 0.38% for BSMQ. On fees, BSMQ is cheaper at 0.18% per year. On volatility, FUMB has been the lower-risk option at 0.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BSMQ or FUMB?

Over the 5-year period, FUMB has performed better with a 2.01% return vs 0.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BSMQ or FUMB?

BSMQ is cheaper with a 0.18% expense ratio, compared with 0.45% for FUMB.

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

FUMB has the higher dividend yield at 2.79%, compared with 2.75% for BSMQ.

What is the main difference between BSMQ and FUMB?

They also come from different issuers: Invesco and First Trust. Their fees differ too: 0.18% for BSMQ and 0.45% for FUMB.

Which has better risk-adjusted returns?

FUMB currently has the higher Sharpe Ratio (3.41 vs 2.34), 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.