BSMR vs. FXN
BSMR (Invesco BulletShares 2027 Municipal Bond ETF) and FXN (First Trust Energy AlphaDEX Fund) are both exchange-traded funds - BSMR is a Municipal Bonds fund tracking the Invesco BulletShares Municipal Bond 2027 Index, while FXN is a Energy Equities fund tracking the StrataQuant Energy Index. Both are passively managed. Over the past 5 years, BSMR returned 0.35%/yr vs 18.52%/yr for FXN. At a correlation of -0.05, they often move in opposite directions. BSMR charges 0.18%/yr vs 0.64%/yr for FXN.
Performance
BSMR vs. FXN - Performance Comparison
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Returns By Period
In the year-to-date period, BSMR achieves a 1.20% return, which is significantly lower than FXN's 28.98% return.
BSMR
- 1D
- 0.04%
- 1M
- 0.21%
- 6M
- 0.82%
- YTD
- 1.20%
- 1Y
- 3.12%
- 3Y*
- 2.79%
- 5Y*
- 0.35%
- 10Y*
- —
FXN
- 1D
- 0.43%
- 1M
- 2.29%
- 6M
- 24.59%
- YTD
- 28.98%
- 1Y
- 41.26%
- 3Y*
- 12.41%
- 5Y*
- 18.52%
- 10Y*
- 5.85%
BSMR vs. FXN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BSMR Invesco BulletShares 2027 Municipal Bond ETF | 1.20% | 3.10% | 1.51% | 4.47% | -7.60% | 1.09% | 4.97% | 0.16% |
FXN First Trust Energy AlphaDEX Fund | 28.98% | 3.39% | 0.27% | 0.97% | 46.92% | 51.79% | -19.91% | 6.36% |
Correlation
The correlation between BSMR and FXN is -0.15, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019 | -0.05 |
The correlation between BSMR and FXN shifts across timeframes, from -0.15 (1 year) to -0.02 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
BSMR vs. FXN — Risk / Return Rank
BSMR
FXN
BSMR vs. FXN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2027 Municipal Bond ETF (BSMR) and First Trust Energy AlphaDEX Fund (FXN). 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.
| BSMR | FXN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.67 | ||
| Sortino ratioReturn per unit of downside risk | +1.67 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.29 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 5.53 | 3.09 | +2.44 |
| Martin ratioReturn relative to average drawdown | 17.50 | 7.78 | +9.72 |
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Drawdowns
BSMR vs. FXN - Drawdown Comparison
The maximum BSMR drawdown since its inception was -13.49%, smaller than the maximum FXN drawdown of -87.39%. Use the drawdown chart below to compare losses from any high point for BSMR and FXN.
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Drawdown Indicators
| BSMR | FXN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.49% | -87.39% | +73.90% |
Max Drawdown (1Y)Largest decline over 1 year | -0.57% | -13.41% | +12.84% |
Max Drawdown (3Y)Largest decline over 3 years | -3.50% | -31.69% | +28.19% |
Max Drawdown (5Y)Largest decline over 5 years | -12.02% | -31.69% | +19.67% |
Max Drawdown (10Y)Largest decline over 10 years | — | -80.63% | — |
Current DrawdownCurrent decline from peak | -0.11% | -8.70% | +8.59% |
Average DrawdownAverage peak-to-trough decline | -3.43% | -37.81% | +34.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.18% | 5.31% | -5.13% |
Volatility
BSMR vs. FXN - Volatility Comparison
The current volatility for Invesco BulletShares 2027 Municipal Bond ETF (BSMR) is 0.33%, while First Trust Energy AlphaDEX Fund (FXN) has a volatility of 5.44%. This indicates that BSMR experiences smaller price fluctuations and is considered to be less risky than FXN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSMR | FXN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.33% | 5.44% | -5.11% |
Volatility (6M)Calculated over the trailing 6-month period | 0.95% | 16.98% | -16.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.27% | 23.23% | -21.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.02% | 28.80% | -25.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.68% | 34.82% | -29.14% |
BSMR vs. FXN - Expense Ratio Comparison
BSMR has a 0.18% expense ratio, which is lower than FXN's 0.64% expense ratio.
Dividends
BSMR vs. FXN - Dividend Comparison
BSMR's dividend yield for the trailing twelve months is around 2.71%, more than FXN's 1.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSMR Invesco BulletShares 2027 Municipal Bond ETF | 2.71% | 2.77% | 2.78% | 2.72% | 1.40% | 1.00% | 1.49% | 0.45% | 0.00% | 0.00% | 0.00% | 0.00% |
FXN First Trust Energy AlphaDEX Fund | 1.70% | 2.53% | 2.50% | 3.09% | 2.28% | 0.87% | 4.71% | 1.47% | 1.43% | 1.17% | 1.05% | 2.36% |
Frequently Asked Questions
BSMR and FXN have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FXN has higher volatility (5.44%) compared to BSMR (0.33%). In terms of maximum drawdown, BSMR dropped -13.49% vs FXN's -87.39%.
On 5-year performance, FXN leads with 18.52% vs 0.35% for BSMR. On fees, BSMR is cheaper at 0.18% per year. On volatility, BSMR has been the lower-risk option at 0.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FXN has performed better with a 18.52% return vs 0.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BSMR is cheaper with a 0.18% expense ratio, compared with 0.64% for FXN.
BSMR has the higher dividend yield at 2.71%, compared with 1.70% for FXN.
BSMR is categorized as Municipal Bonds, while FXN is Energy Equities. BSMR tracks Invesco BulletShares Municipal Bond 2027 Index, while FXN tracks StrataQuant Energy Index. They also come from different issuers: Invesco and First Trust. Their fees differ too: 0.18% for BSMR and 0.64% for FXN.
BSMR currently has the higher Sharpe Ratio (2.46 vs 1.79), 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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