BSMQ vs. MUB
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 0.26%/yr vs 0.55%/yr for MUB. Their 0.56 correlation means they have sometimes moved together and sometimes differently. BSMQ charges 0.18%/yr vs 0.07%/yr for MUB.
Performance
BSMQ vs. MUB - Performance Comparison
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Returns By Period
In the year-to-date period, BSMQ achieves a 1.21% return, which is significantly higher than MUB's 0.21% return.
BSMQ
- 1D
- 0.04%
- 1M
- 0.20%
- 6M
- 0.98%
- YTD
- 1.21%
- 1Y
- 2.94%
- 3Y*
- 2.88%
- 5Y*
- 0.26%
- 10Y*
- —
- ALL TIME*
- 1.22%
MUB
- 1D
- -0.11%
- 1M
- -1.73%
- 6M
- -0.48%
- YTD
- 0.21%
- 1Y
- 4.48%
- 3Y*
- 2.86%
- 5Y*
- 0.55%
- 10Y*
- 1.79%
- ALL TIME*
- 3.11%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $752.85K | $1.46M | $1.59M | |
| $531.87M | $437.83M | $388.20M |
BSMQ vs. MUB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BSMQ Invesco BulletShares 2026 Municipal Bond ETF | 1.21% | 3.12% | 1.99% | 3.60% | -7.62% | 1.05% | 5.26% | 0.28% |
MUB iShares National AMT-Free Muni Bond ETF | 0.21% | 3.78% | 1.26% | 5.56% | -7.34% | 1.02% | 5.12% | 0.65% |
Correlation
The correlation between BSMQ and MUB is 0.22, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.22 |
Correlation (3Y) Balances recent behavior with more history. | 0.51 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.62 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019 | 0.56 |
Over the past year, the correlation between BSMQ and MUB has dropped to 0.22 - well below their long-term average of 0.56, suggesting their price drivers have been diverging.
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Return for Risk
BSMQ vs. MUB — Risk / Return Rank
BSMQ
MUB
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.
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 | MUB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.67 | ||
| Sortino ratioReturn per unit of downside risk | +1.47 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.34 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 10.33 | 1.80 | +8.53 |
| Martin ratioReturn relative to average drawdown | 27.47 | 5.86 | +21.61 |
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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
| BSMQ | MUB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.18% | -13.68% | +0.50% |
Max Drawdown (1Y)Largest decline over 1 year | -0.30% | -2.79% | +2.49% |
Max Drawdown (3Y)Largest decline over 3 years | -2.05% | -4.78% | +2.73% |
Max Drawdown (5Y)Largest decline over 5 years | -11.50% | -11.78% | +0.28% |
Max Drawdown (10Y)Largest decline over 10 years | — | -13.68% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.79% | +1.79% |
Average DrawdownAverage peak-to-trough decline | -3.39% | -2.22% | -1.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.11% | 0.86% | -0.75% |
Volatility
BSMQ vs. MUB - Volatility Comparison
The current volatility for Invesco BulletShares 2026 Municipal Bond ETF (BSMQ) is 0.26%, while iShares National AMT-Free Muni Bond ETF (MUB) has a volatility of 0.96%. 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
| BSMQ | MUB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.26% | 0.96% | -0.70% |
Volatility (6M)Calculated over the trailing 6-month period | 0.86% | 2.41% | -1.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.30% | 2.98% | -1.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.65% | 4.09% | -1.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.74% | 4.91% | -0.17% |
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 2.75%, less than MUB's 3.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% |
MUB iShares National AMT-Free Muni Bond ETF | 2.96% | 3.14% | 3.01% | 2.65% | 2.11% | 1.81% | 2.11% | 2.42% | 2.46% | 2.26% | 2.21% | 2.51% |
Frequently Asked Questions
BSMQ and MUB have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MUB has higher volatility (0.96%) compared to BSMQ (0.26%). In terms of maximum drawdown, BSMQ dropped -13.18% vs MUB's -13.68%.
On 5-year performance, MUB leads with 0.55% vs 0.26% for BSMQ. On fees, MUB is cheaper at 0.07% per year. On volatility, BSMQ has been the lower-risk option at 0.26%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, MUB has performed better with a 0.55% return vs 0.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MUB is cheaper with a 0.07% expense ratio, compared with 0.18% for BSMQ.
MUB has the higher dividend yield at 2.96%, compared with 2.75% for BSMQ.
BSMQ tracks Invesco BulletShares Municipal Bond 2026 Index, while MUB tracks S&P National AMT-Free Municipal Bond Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.18% for BSMQ and 0.07% for MUB.
BSMQ currently has the higher Sharpe Ratio (2.36 vs 1.69), 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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