BSMR vs. MEAR
Compare and contrast key facts about Invesco BulletShares 2027 Municipal Bond ETF (BSMR) and iShares Short Maturity Municipal Bond ETF (MEAR).
BSMR and MEAR are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BSMR is a passively managed fund by Invesco that tracks the performance of the Invesco BulletShares Municipal Bond 2027 Index. It was launched on Sep 25, 2019. MEAR is an actively managed fund by iShares. It was launched on Mar 3, 2015.
Performance
BSMR vs. MEAR - Performance Comparison
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BSMR vs. MEAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BSMR Invesco BulletShares 2027 Municipal Bond ETF | 0.56% | 3.10% | 1.51% | 4.47% | -7.60% | 1.09% | 4.97% | 0.16% |
MEAR iShares Short Maturity Municipal Bond ETF | 0.58% | 3.76% | 3.40% | 3.93% | 0.10% | 0.05% | 1.18% | 0.40% |
Returns By Period
The year-to-date returns for both investments are quite close, with BSMR having a 0.56% return and MEAR slightly higher at 0.58%.
BSMR
- 1D
- -0.06%
- 1M
- -0.37%
- YTD
- 0.56%
- 6M
- 1.16%
- 1Y
- 3.19%
- 3Y*
- 2.47%
- 5Y*
- 0.66%
- 10Y*
- —
MEAR
- 1D
- 0.11%
- 1M
- -0.23%
- YTD
- 0.58%
- 6M
- 1.27%
- 1Y
- 3.25%
- 3Y*
- 3.54%
- 5Y*
- 2.32%
- 10Y*
- 1.75%
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BSMR vs. MEAR - Expense Ratio Comparison
BSMR has a 0.18% expense ratio, which is lower than MEAR's 0.25% 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%.
Return for Risk
BSMR vs. MEAR — Risk / Return Rank
BSMR
MEAR
BSMR vs. MEAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2027 Municipal Bond ETF (BSMR) and iShares Short Maturity Municipal Bond ETF (MEAR). 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.
| BSMR | MEAR | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.30 | 2.81 | -1.51 |
Sortino ratioReturn per unit of downside risk | 1.67 | 3.78 | -2.11 |
Omega ratioGain probability vs. loss probability | 1.34 | 1.73 | -0.38 |
Calmar ratioReturn relative to maximum drawdown | 1.23 | 3.77 | -2.54 |
Martin ratioReturn relative to average drawdown | 5.87 | 21.16 | -15.29 |
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
| BSMR | MEAR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.30 | 2.81 | -1.51 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.22 | 2.38 | -2.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.16 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 1.09 | -0.89 |
Correlation
The correlation between BSMR and MEAR is 0.22, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
BSMR vs. MEAR - Dividend Comparison
BSMR's dividend yield for the trailing twelve months is around 2.75%, less than MEAR's 2.87% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSMR Invesco BulletShares 2027 Municipal Bond ETF | 2.75% | 2.77% | 2.78% | 2.72% | 1.40% | 1.00% | 1.49% | 0.45% | 0.00% | 0.00% | 0.00% | 0.00% |
MEAR iShares Short Maturity Municipal Bond ETF | 2.87% | 2.95% | 3.44% | 3.30% | 0.88% | 0.30% | 0.90% | 1.57% | 1.36% | 1.01% | 0.81% | 0.53% |
Drawdowns
BSMR vs. MEAR - Drawdown Comparison
The maximum BSMR drawdown since its inception was -13.49%, which is greater than MEAR's maximum drawdown of -2.68%. Use the drawdown chart below to compare losses from any high point for BSMR and MEAR.
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Drawdown Indicators
| BSMR | MEAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.49% | -2.68% | -10.81% |
Max Drawdown (1Y)Largest decline over 1 year | -2.60% | -0.86% | -1.74% |
Max Drawdown (5Y)Largest decline over 5 years | -12.02% | -1.12% | -10.90% |
Max Drawdown (10Y)Largest decline over 10 years | — | -2.68% | — |
Current DrawdownCurrent decline from peak | -0.43% | -0.24% | -0.19% |
Average DrawdownAverage peak-to-trough decline | -3.57% | -0.19% | -3.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.54% | 0.15% | +0.39% |
Volatility
BSMR vs. MEAR - Volatility Comparison
Invesco BulletShares 2027 Municipal Bond ETF (BSMR) has a higher volatility of 0.41% compared to iShares Short Maturity Municipal Bond ETF (MEAR) at 0.37%. This indicates that BSMR's price experiences larger fluctuations and is considered to be riskier than MEAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSMR | MEAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.41% | 0.37% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 0.87% | 0.60% | +0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.47% | 1.16% | +1.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.04% | 0.98% | +2.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.80% | 1.52% | +4.28% |