BSMR vs. SCMB
BSMR (Invesco BulletShares 2027 Municipal Bond ETF) and SCMB (Schwab Municipal Bond ETF) are both Municipal Bonds funds - BSMR tracks the Invesco BulletShares Municipal Bond 2027 Index while SCMB tracks the ICE AMT-Free Core U.S. National Municipal Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, BSMR returned 2.84%/yr vs 3.13%/yr for SCMB. A 0.69 correlation means they provide meaningful diversification when combined. BSMR charges 0.18%/yr vs 0.03%/yr for SCMB.
Performance
BSMR vs. SCMB - Performance Comparison
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Returns By Period
In the year-to-date period, BSMR achieves a 1.25% return, which is significantly lower than SCMB's 1.39% return.
BSMR
- 1D
- -0.06%
- 1M
- 0.50%
- YTD
- 1.25%
- 6M
- 1.38%
- 1Y
- 3.82%
- 3Y*
- 2.84%
- 5Y*
- 0.51%
- 10Y*
- —
SCMB
- 1D
- -0.16%
- 1M
- 1.47%
- YTD
- 1.39%
- 6M
- 1.58%
- 1Y
- 6.25%
- 3Y*
- 3.13%
- 5Y*
- —
- 10Y*
- —
BSMR vs. SCMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BSMR Invesco BulletShares 2027 Municipal Bond ETF | 1.25% | 3.10% | 1.51% | 4.47% | 2.69% |
SCMB Schwab Municipal Bond ETF | 1.39% | 3.78% | 0.91% | 5.86% | 2.88% |
Correlation
The correlation between BSMR and SCMB is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 2022 | 0.69 |
Over the past year, the correlation between BSMR and SCMB has dropped to 0.43 - well below their long-term average of 0.69, suggesting their price drivers have been diverging.
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Return for Risk
BSMR vs. SCMB — Risk / Return Rank
BSMR
SCMB
BSMR vs. SCMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2027 Municipal Bond ETF (BSMR) and Schwab Municipal Bond ETF (SCMB). 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 | SCMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.84 | ||
| Sortino ratioReturn per unit of downside risk | +1.83 | ||
| Omega ratioGain probability vs. loss probability | 1.65 | 1.46 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 6.78 | 2.15 | +4.63 |
| Martin ratioReturn relative to average drawdown | 21.35 | 7.06 | +14.29 |
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Drawdowns
BSMR vs. SCMB - Drawdown Comparison
The maximum BSMR drawdown since its inception was -13.49%, which is greater than SCMB's maximum drawdown of -6.13%. Use the drawdown chart below to compare losses from any high point for BSMR and SCMB.
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Drawdown Indicators
| BSMR | SCMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.49% | -6.13% | -7.36% |
Max Drawdown (1Y)Largest decline over 1 year | -0.57% | -2.92% | +2.35% |
Max Drawdown (3Y)Largest decline over 3 years | -3.50% | -5.57% | +2.07% |
Max Drawdown (5Y)Largest decline over 5 years | -12.02% | — | — |
Current DrawdownCurrent decline from peak | -0.06% | -0.56% | +0.50% |
Average DrawdownAverage peak-to-trough decline | -3.46% | -1.31% | -2.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.18% | 0.89% | -0.71% |
Volatility
BSMR vs. SCMB - Volatility Comparison
The current volatility for Invesco BulletShares 2027 Municipal Bond ETF (BSMR) is 0.42%, while Schwab Municipal Bond ETF (SCMB) has a volatility of 0.76%. This indicates that BSMR experiences smaller price fluctuations and is considered to be less risky than SCMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSMR | SCMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.42% | 0.76% | -0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 0.97% | 2.17% | -1.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.28% | 2.89% | -1.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.02% | 4.14% | -1.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.70% | 4.14% | +1.56% |
BSMR vs. SCMB - Expense Ratio Comparison
BSMR has a 0.18% expense ratio, which is higher than SCMB's 0.03% 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
BSMR vs. SCMB - Dividend Comparison
BSMR's dividend yield for the trailing twelve months is around 2.71%, less than SCMB's 3.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BSMR Invesco BulletShares 2027 Municipal Bond ETF | 2.71% | 2.77% | 2.78% | 2.72% | 1.40% | 1.00% | 1.49% | 0.45% |
SCMB Schwab Municipal Bond ETF | 3.52% | 3.36% | 3.34% | 3.10% | 0.59% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BSMR and SCMB have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCMB has higher volatility (0.76%) compared to BSMR (0.42%). In terms of maximum drawdown, BSMR dropped -13.49% vs SCMB's -6.13%.
On 3-year performance, SCMB leads with 3.13% vs 2.84% for BSMR. On fees, SCMB is cheaper at 0.03% per year. On volatility, BSMR has been the lower-risk option at 0.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SCMB has performed better with a 3.13% return vs 2.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCMB is cheaper with a 0.03% expense ratio, compared with 0.18% for BSMR.
SCMB has the higher dividend yield at 3.52%, compared with 2.71% for BSMR.
BSMR tracks Invesco BulletShares Municipal Bond 2027 Index, while SCMB tracks ICE AMT-Free Core U.S. National Municipal Index - Benchmark TR Gross. They also come from different issuers: Invesco and Charles Schwab. Their fees differ too: 0.18% for BSMR and 0.03% for SCMB.
BSMR currently has the higher Sharpe Ratio (3.01 vs 2.17), 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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