BSMQ vs. KCSH
BSMQ (Invesco BulletShares 2026 Municipal Bond ETF) and KCSH (KraneShares Sustainable Ultra Short Duration Index ETF) are both exchange-traded funds - BSMQ is a Municipal Bonds fund tracking the Invesco BulletShares Municipal Bond 2026 Index, while KCSH is a Ultrashort Bond fund tracking the Solactive ISS Sustainable Select 0-1 Year USD Corporate IG Index. Both are passively managed. Over the past year, BSMQ returned 3.07% vs 4.00% for KCSH. At a 0.01 correlation, their price movements are largely independent. BSMQ charges 0.18%/yr vs 0.20%/yr for KCSH.
Performance
BSMQ vs. KCSH - Performance Comparison
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Returns By Period
In the year-to-date period, BSMQ achieves a 1.09% return, which is significantly lower than KCSH's 1.69% return.
BSMQ
- 1D
- 0.13%
- 1M
- 0.36%
- YTD
- 1.09%
- 6M
- 1.21%
- 1Y
- 3.07%
- 3Y*
- 2.82%
- 5Y*
- 0.38%
- 10Y*
- —
KCSH
- 1D
- 0.02%
- 1M
- 0.32%
- YTD
- 1.69%
- 6M
- 1.81%
- 1Y
- 4.00%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BSMQ vs. KCSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BSMQ Invesco BulletShares 2026 Municipal Bond ETF | 1.09% | 3.12% | 1.19% |
KCSH KraneShares Sustainable Ultra Short Duration Index ETF | 1.69% | 4.49% | 1.98% |
Correlation
The correlation between BSMQ and KCSH is -0.10, 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 | -0.10 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2024 | 0.01 |
The correlation between BSMQ and KCSH shifts across timeframes, from -0.10 (1 year) to 0.01 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BSMQ vs. KCSH — Risk / Return Rank
BSMQ
KCSH
BSMQ vs. KCSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2026 Municipal Bond ETF (BSMQ) and KraneShares Sustainable Ultra Short Duration Index ETF (KCSH). 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 | KCSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.87 | ||
| Sortino ratioReturn per unit of downside risk | -0.79 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 2.09 | -0.61 |
| Calmar ratioReturn relative to maximum drawdown | 9.40 | 6.89 | +2.51 |
| Martin ratioReturn relative to average drawdown | 24.86 | 57.89 | -33.03 |
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Drawdowns
BSMQ vs. KCSH - Drawdown Comparison
The maximum BSMQ drawdown since its inception was -13.18%, which is greater than KCSH's maximum drawdown of -0.58%. Use the drawdown chart below to compare losses from any high point for BSMQ and KCSH.
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Drawdown Indicators
| BSMQ | KCSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.18% | -0.58% | -12.60% |
Max Drawdown (1Y)Largest decline over 1 year | -0.33% | -0.58% | +0.25% |
Max Drawdown (3Y)Largest decline over 3 years | -2.53% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -11.50% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -3.45% | -0.03% | -3.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.12% | 0.07% | +0.05% |
Volatility
BSMQ vs. KCSH - Volatility Comparison
Invesco BulletShares 2026 Municipal Bond ETF (BSMQ) has a higher volatility of 0.39% compared to KraneShares Sustainable Ultra Short Duration Index ETF (KCSH) at 0.20%. This indicates that BSMQ's price experiences larger fluctuations and is considered to be riskier than KCSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSMQ | KCSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.39% | 0.20% | +0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 0.94% | 0.46% | +0.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.32% | 1.25% | +0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.67% | 1.31% | +1.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.77% | 1.31% | +3.46% |
BSMQ vs. KCSH - Expense Ratio Comparison
BSMQ has a 0.18% expense ratio, which is lower than KCSH's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
BSMQ vs. KCSH - Dividend Comparison
BSMQ's dividend yield for the trailing twelve months is around 2.75%, less than KCSH's 3.96% 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% |
KCSH KraneShares Sustainable Ultra Short Duration Index ETF | 3.96% | 4.35% | 2.08% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BSMQ and KCSH have a correlation of -0.10, 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 KCSH (0.20%). In terms of maximum drawdown, BSMQ dropped -13.18% vs KCSH's -0.58%.
On 1-year performance, KCSH leads with 4.00% vs 3.07% for BSMQ. On fees, BSMQ is cheaper at 0.18% per year. On volatility, KCSH has been the lower-risk option at 0.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, KCSH has performed better with a 4.00% return vs 3.07%. 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 0.20% for KCSH.
KCSH has the higher dividend yield at 3.96%, compared with 2.75% for BSMQ.
BSMQ is categorized as Municipal Bonds, while KCSH is Ultrashort Bond. BSMQ tracks Invesco BulletShares Municipal Bond 2026 Index, while KCSH tracks Solactive ISS Sustainable Select 0-1 Year USD Corporate IG Index. They also come from different issuers: Invesco and KraneShares. Their fees differ too: 0.18% for BSMQ and 0.20% for KCSH.
KCSH currently has the higher Sharpe Ratio (3.21 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.
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