BSMQ vs. OVM
Compare and contrast key facts about Invesco BulletShares 2026 Municipal Bond ETF (BSMQ) and Overlay Shares Municipal Bond ETF (OVM).
BSMQ and OVM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BSMQ is a passively managed fund by Invesco that tracks the performance of the Invesco BulletShares Municipal Bond 2026 Index. It was launched on Sep 25, 2019. OVM is an actively managed fund by Liquid Strategies. It was launched on Sep 30, 2019.
Performance
BSMQ vs. OVM - Performance Comparison
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BSMQ vs. OVM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BSMQ Invesco BulletShares 2026 Municipal Bond ETF | 0.62% | 3.12% | 1.99% | 3.60% | -7.62% | 1.05% | 5.26% | 0.24% |
OVM Overlay Shares Municipal Bond ETF | 1.20% | 4.14% | 3.42% | 7.35% | -11.26% | 4.22% | 6.17% | 1.72% |
Returns By Period
In the year-to-date period, BSMQ achieves a 0.62% return, which is significantly lower than OVM's 1.20% return.
BSMQ
- 1D
- 0.02%
- 1M
- 0.16%
- YTD
- 0.62%
- 6M
- 1.36%
- 1Y
- 2.88%
- 3Y*
- 2.50%
- 5Y*
- 0.50%
- 10Y*
- —
OVM
- 1D
- 0.57%
- 1M
- -1.86%
- YTD
- 1.20%
- 6M
- 3.29%
- 1Y
- 7.50%
- 3Y*
- 4.29%
- 5Y*
- 1.47%
- 10Y*
- —
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BSMQ vs. OVM - Expense Ratio Comparison
BSMQ has a 0.18% expense ratio, which is lower than OVM's 0.82% expense ratio.
Return for Risk
BSMQ vs. OVM — Risk / Return Rank
BSMQ
OVM
BSMQ vs. OVM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2026 Municipal Bond ETF (BSMQ) and Overlay Shares Municipal Bond ETF (OVM). 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 | OVM | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.50 | 1.33 | +0.17 |
Sortino ratioReturn per unit of downside risk | 2.03 | 1.86 | +0.17 |
Omega ratioGain probability vs. loss probability | 1.34 | 1.29 | +0.06 |
Calmar ratioReturn relative to maximum drawdown | 1.68 | 2.05 | -0.37 |
Martin ratioReturn relative to average drawdown | 8.37 | 8.19 | +0.19 |
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 | OVM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.50 | 1.33 | +0.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.19 | 0.27 | -0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.37 | -0.12 |
Correlation
The correlation between BSMQ and OVM is 0.45, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
BSMQ vs. OVM - Dividend Comparison
BSMQ's dividend yield for the trailing twelve months is around 2.77%, less than OVM's 6.76% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BSMQ Invesco BulletShares 2026 Municipal Bond ETF | 2.77% | 2.74% | 2.75% | 2.47% | 1.60% | 1.14% | 1.57% | 0.44% |
OVM Overlay Shares Municipal Bond ETF | 6.76% | 5.45% | 4.91% | 4.66% | 4.21% | 6.10% | 3.97% | 0.58% |
Drawdowns
BSMQ vs. OVM - Drawdown Comparison
The maximum BSMQ drawdown since its inception was -13.18%, smaller than the maximum OVM drawdown of -15.58%. Use the drawdown chart below to compare losses from any high point for BSMQ and OVM.
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Drawdown Indicators
| BSMQ | OVM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.18% | -15.58% | +2.40% |
Max Drawdown (1Y)Largest decline over 1 year | -1.82% | -3.89% | +2.07% |
Max Drawdown (5Y)Largest decline over 5 years | -11.50% | -15.58% | +4.08% |
Current DrawdownCurrent decline from peak | -0.03% | -1.86% | +1.83% |
Average DrawdownAverage peak-to-trough decline | -3.57% | -4.11% | +0.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.36% | 0.97% | -0.61% |
Volatility
BSMQ vs. OVM - Volatility Comparison
The current volatility for Invesco BulletShares 2026 Municipal Bond ETF (BSMQ) is 0.36%, while Overlay Shares Municipal Bond ETF (OVM) has a volatility of 1.98%. This indicates that BSMQ experiences smaller price fluctuations and is considered to be less risky than OVM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSMQ | OVM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.36% | 1.98% | -1.62% |
Volatility (6M)Calculated over the trailing 6-month period | 0.95% | 3.35% | -2.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.93% | 5.68% | -3.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.68% | 5.37% | -2.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.85% | 6.60% | -1.75% |