BSMQ vs. IBMN
BSMQ (Invesco BulletShares 2026 Municipal Bond ETF) and IBMN (iShares iBonds Dec 2025 Term Muni Bond ETF) are both Municipal Bonds funds - BSMQ tracks the Invesco BulletShares Municipal Bond 2026 Index while IBMN tracks the S&P AMT-Free Municipal Series Dec 2025 Index. Both are passively managed. Over the past 5 years, BSMQ returned 0.29%/yr vs 0.47%/yr for IBMN. At a 0.46 correlation, their price movements are largely independent. Both charge a 0.18% expense ratio.
Performance
BSMQ vs. IBMN - Performance Comparison
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Returns By Period
BSMQ
- 1D
- -0.06%
- 1M
- 0.14%
- YTD
- 0.73%
- 6M
- 1.17%
- 1Y
- 3.08%
- 3Y*
- 2.92%
- 5Y*
- 0.29%
- 10Y*
- —
IBMN
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.00%
- 1Y
- 1.20%
- 3Y*
- 2.44%
- 5Y*
- 0.47%
- 10Y*
- —
BSMQ vs. IBMN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BSMQ Invesco BulletShares 2026 Municipal Bond ETF | 0.73% | 3.12% | 1.99% | 3.60% | -7.62% | 1.05% | 5.26% | 0.24% |
IBMN iShares iBonds Dec 2025 Term Muni Bond ETF | 0.00% | 2.49% | 2.33% | 2.42% | -4.43% | -0.41% | 4.83% | 0.96% |
Correlation
The correlation between BSMQ and IBMN 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 | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2019 | 0.46 |
Over the past year, the correlation between BSMQ and IBMN has dropped to 0.05 - well below their long-term average of 0.46, suggesting their price drivers have been diverging.
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Return for Risk
BSMQ vs. IBMN — Risk / Return Rank
BSMQ
IBMN
BSMQ vs. IBMN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2026 Municipal Bond ETF (BSMQ) and iShares iBonds Dec 2025 Term Muni Bond ETF (IBMN). 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.
| BSMQ | IBMN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.66 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 9.43 | 6.02 | +3.41 |
| Martin ratioReturn relative to average drawdown | 24.69 | 24.21 | +0.47 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BSMQ | IBMN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.32 | 2.12 | +0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | 0.28 | -0.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.58 | -0.34 |
Drawdowns
BSMQ vs. IBMN - Drawdown Comparison
The maximum BSMQ drawdown since its inception was -13.18%, which is greater than IBMN's maximum drawdown of -12.40%. Use the drawdown chart below to compare losses from any high point for BSMQ and IBMN.
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Drawdown Indicators
| BSMQ | IBMN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.18% | -12.40% | -0.78% |
Max Drawdown (1Y)Largest decline over 1 year | -0.33% | -0.25% | -0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -2.53% | -1.10% | -1.43% |
Max Drawdown (5Y)Largest decline over 5 years | -11.50% | -7.36% | -4.14% |
Current DrawdownCurrent decline from peak | -0.12% | -0.05% | -0.07% |
Average DrawdownAverage peak-to-trough decline | -3.48% | -1.81% | -1.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.12% | 0.10% | +0.02% |
Volatility
BSMQ vs. IBMN - Volatility Comparison
Invesco BulletShares 2026 Municipal Bond ETF (BSMQ) has a higher volatility of 0.39% compared to iShares iBonds Dec 2025 Term Muni Bond ETF (IBMN) at 0.00%. This indicates that BSMQ's price experiences larger fluctuations and is considered to be riskier than IBMN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSMQ | IBMN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.39% | 0.00% | +0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 0.94% | 0.50% | +0.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.33% | 0.71% | +0.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.68% | 1.80% | +0.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.79% | 3.89% | +0.90% |
BSMQ vs. IBMN - Expense Ratio Comparison
Both BSMQ and IBMN 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. IBMN - Dividend Comparison
BSMQ's dividend yield for the trailing twelve months is around 2.76%, more than IBMN's 1.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BSMQ Invesco BulletShares 2026 Municipal Bond ETF | 2.76% | 2.74% | 2.75% | 2.47% | 1.60% | 1.14% | 1.57% | 0.44% | 0.00% |
IBMN iShares iBonds Dec 2025 Term Muni Bond ETF | 1.14% | 2.03% | 2.03% | 1.72% | 0.97% | 0.70% | 1.11% | 1.65% | 0.23% |
Frequently Asked Questions
BSMQ and IBMN 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.
BSMQ has higher volatility (0.39%) compared to IBMN (0.00%). In terms of maximum drawdown, BSMQ dropped -13.18% vs IBMN's -12.40%.
On 5-year performance, IBMN leads with 0.47% vs 0.29% for BSMQ. Both ETFs have the same 0.18% expense ratio. On volatility, IBMN has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IBMN has performed better with a 0.47% return vs 0.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BSMQ and IBMN have the same expense ratio: 0.18% per year.
BSMQ has the higher dividend yield at 2.76%, compared with 1.14% for IBMN.
BSMQ tracks Invesco BulletShares Municipal Bond 2026 Index, while IBMN tracks S&P AMT-Free Municipal Series Dec 2025 Index. They also come from different issuers: Invesco and iShares.
BSMQ currently has the higher Sharpe Ratio (2.32 vs 2.12), 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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