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BSMQ vs. MUB
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BSMQ vs. MUB

Last updated Apr 15, 2026

BSMQ (Invesco BulletShares 2026 Municipal Bond ETF) and MUB (iShares National AMT-Free Muni Bond ETF) are both Municipal Bonds funds — BSMQ tracks the Invesco BulletShares Municipal Bond 2026 Index while MUB tracks the S&P National AMT-Free Municipal Bond Index. Both are passively managed. Over the past 5 years, BSMQ returned 0.34%/yr vs 0.82%/yr for MUB. A 0.57 correlation means they provide meaningful diversification when combined. BSMQ charges 0.18%/yr vs 0.07%/yr for MUB.

Performance

BSMQ vs. MUB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco BulletShares 2026 Municipal Bond ETF (BSMQ) and iShares National AMT-Free Muni Bond ETF (MUB). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, BSMQ achieves a 0.68% return, which is significantly higher than MUB's 0.58% return.

BSMQ

1D
0.13%
1M
0.26%
YTD
0.68%
6M
1.37%
1Y
4.18%
3Y*
2.40%
5Y*
0.34%
10Y*
—

MUB

1D
-0.19%
1M
-0.20%
YTD
0.58%
6M
1.39%
1Y
6.71%
3Y*
2.72%
5Y*
0.82%
10Y*
1.98%
*Multi-year figures are annualized to reflect compound growth (CAGR)

BSMQ vs. MUB - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
BSMQ
Invesco BulletShares 2026 Municipal Bond ETF		0.68%3.12%1.99%3.60%-7.62%1.05%5.26%0.24%
MUB
iShares National AMT-Free Muni Bond ETF		0.58%3.78%1.26%5.56%-7.34%1.02%5.12%0.66%

Correlation

The correlation between BSMQ and MUB is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.30

Correlation (3Y)
Calculated over the trailing 3-year period

0.55

Correlation (5Y)
Calculated over the trailing 5-year period

0.63

Correlation (All Time)
Calculated using the full available price history since Sep 27, 2019

0.57

Over the past year, the correlation between BSMQ and MUB has dropped to 0.30 — well below their long-term average of 0.57, suggesting their price drivers have been diverging.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco BulletShares 2026 Municipal Bond ETF

iShares National AMT-Free Muni Bond ETF

Often compared with BSMQ:
BSMQ vs. AMUNBSMQ vs. MEARBSMQ vs. CALIBSMQ vs. FUMBBSMQ vs. CABSMQ vs. IBMMBSMQ vs. GUMI
Often compared with MUB:
MUB vs. VTEBMUB vs. SUBMUB vs. CMFMUB vs. MUNIMUB vs. NYFMUB vs. BNDMUB vs. HYD

Return for Risk

BSMQ vs. MUB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BSMQ
BSMQ Risk / Return Rank: 9191
Overall Rank
BSMQ Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
BSMQ Sortino Ratio Rank: 9191
Sortino Ratio Rank
BSMQ Omega Ratio Rank: 9090
Omega Ratio Rank
BSMQ Calmar Ratio Rank: 9797
Calmar Ratio Rank
BSMQ Martin Ratio Rank: 9696
Martin Ratio Rank
MUB
MUB Risk / Return Rank: 5555
Overall Rank
MUB Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
MUB Sortino Ratio Rank: 6161
Sortino Ratio Rank
MUB Omega Ratio Rank: 6767
Omega Ratio Rank
MUB Calmar Ratio Rank: 4141
Calmar Ratio Rank
MUB Martin Ratio Rank: 5050
Martin Ratio Rank
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. MUB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2026 Municipal Bond ETF (BSMQ) and iShares National AMT-Free Muni Bond ETF (MUB). 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.

BSMQMUBDifference

Sharpe ratio

Return per unit of total volatility

2.88

2.19

+0.69

Sortino ratio

Return per unit of downside risk

4.62

3.16

+1.47

Omega ratio

Gain probability vs. loss probability

1.64

1.44

+0.20

Calmar ratio

Return relative to maximum drawdown

9.45

2.82

+6.62

Martin ratio

Return relative to average drawdown

33.41

11.64

+21.78

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BSMQ vs. MUB - Sharpe Ratio Comparison

The current BSMQ Sharpe Ratio is 2.88, which is higher than the MUB Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of BSMQ and MUB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

BSMQMUBDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.88

2.19

+0.69

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.13

0.20

-0.08

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.40

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.25

0.58

-0.33

Drawdowns

BSMQ vs. MUB - Drawdown Comparison

The maximum BSMQ drawdown since its inception was -13.18%, roughly equal to the maximum MUB drawdown of -13.68%. Use the drawdown chart below to compare losses from any high point for BSMQ and MUB.

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Drawdown Indicators

BSMQMUBDifference

Max Drawdown

Largest peak-to-trough decline

-13.18%

-13.68%

+0.50%

Max Drawdown (1Y)

Largest decline over 1 year

-0.46%

-2.79%

+2.33%

Max Drawdown (5Y)

Largest decline over 5 years

-11.50%

-11.88%

+0.38%

Max Drawdown (10Y)

Largest decline over 10 years

—

-13.68%

—

Current Drawdown

Current decline from peak

-0.06%

-1.35%

+1.29%

Average Drawdown

Average peak-to-trough decline

-3.55%

-2.24%

-1.31%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.13%

0.68%

-0.55%

Volatility

BSMQ vs. MUB - Volatility Comparison

The current volatility for Invesco BulletShares 2026 Municipal Bond ETF (BSMQ) is 0.34%, while iShares National AMT-Free Muni Bond ETF (MUB) has a volatility of 1.56%. This indicates that BSMQ experiences smaller price fluctuations and is considered to be less risky than MUB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BSMQMUBDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.34%

1.56%

-1.22%

Volatility (6M)

Calculated over the trailing 6-month period

0.97%

2.09%

-1.12%

Volatility (1Y)

Calculated over the trailing 1-year period

1.56%

3.09%

-1.53%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

2.68%

4.04%

-1.36%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

4.84%

4.92%

-0.08%

BSMQ vs. MUB - Expense Ratio Comparison

BSMQ has a 0.18% expense ratio, which is higher than MUB's 0.07% expense ratio. However, 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. MUB - Dividend Comparison

BSMQ's dividend yield for the trailing twelve months is around 2.76%, less than MUB's 3.17% yield.

TTM20252024202320222021202020192018201720162015
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%0.00%0.00%0.00%
MUB
iShares National AMT-Free Muni Bond ETF		3.17%3.14%3.01%2.65%2.11%1.81%2.11%2.42%2.46%2.26%2.21%2.51%