BSMR vs. SPMO
BSMR (Invesco BulletShares 2027 Municipal Bond ETF) and SPMO (Invesco S&P 500 Momentum ETF) are both exchange-traded funds - BSMR is a Municipal Bonds fund tracking the Invesco BulletShares Municipal Bond 2027 Index, while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. Both are passively managed. Over the past 5 years, BSMR returned 0.51%/yr vs 22.89%/yr for SPMO. At a 0.08 correlation, their price movements are largely independent. BSMR charges 0.18%/yr vs 0.13%/yr for SPMO.
Performance
BSMR vs. SPMO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BSMR achieves a 1.25% return, which is significantly lower than SPMO's 29.91% return.
BSMR
- 1D
- -0.06%
- 1M
- 0.50%
- YTD
- 1.25%
- 6M
- 1.38%
- 1Y
- 3.82%
- 3Y*
- 2.84%
- 5Y*
- 0.51%
- 10Y*
- —
SPMO
- 1D
- -4.53%
- 1M
- 6.65%
- YTD
- 29.91%
- 6M
- 28.13%
- 1Y
- 43.55%
- 3Y*
- 42.47%
- 5Y*
- 22.89%
- 10Y*
- 21.03%
BSMR vs. SPMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BSMR Invesco BulletShares 2027 Municipal Bond ETF | 1.25% | 3.10% | 1.51% | 4.47% | -7.60% | 1.09% | 4.97% | 0.16% |
SPMO Invesco S&P 500 Momentum ETF | 29.91% | 26.58% | 45.82% | 17.56% | -10.45% | 22.64% | 28.25% | 3.72% |
Correlation
The correlation between BSMR and SPMO is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
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 | 0.08 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BSMR vs. SPMO — Risk / Return Rank
BSMR
SPMO
BSMR vs. SPMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2027 Municipal Bond ETF (BSMR) and Invesco S&P 500 Momentum ETF (SPMO). 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 | SPMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.88 | ||
| Sortino ratioReturn per unit of downside risk | +2.20 | ||
| Omega ratioGain probability vs. loss probability | 1.65 | 1.39 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 6.78 | 3.45 | +3.34 |
| Martin ratioReturn relative to average drawdown | 21.35 | 12.97 | +8.38 |
Loading charts...
Drawdowns
BSMR vs. SPMO - Drawdown Comparison
The maximum BSMR drawdown since its inception was -13.49%, smaller than the maximum SPMO drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for BSMR and SPMO.
Loading charts...
Drawdown Indicators
| BSMR | SPMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.49% | -30.95% | +17.46% |
Max Drawdown (1Y)Largest decline over 1 year | -0.57% | -12.70% | +12.13% |
Max Drawdown (3Y)Largest decline over 3 years | -3.50% | -20.13% | +16.63% |
Max Drawdown (5Y)Largest decline over 5 years | -12.02% | -22.74% | +10.72% |
Max Drawdown (10Y)Largest decline over 10 years | — | -30.95% | — |
Current DrawdownCurrent decline from peak | -0.06% | -4.53% | +4.47% |
Average DrawdownAverage peak-to-trough decline | -3.46% | -4.59% | +1.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.18% | 3.37% | -3.19% |
Volatility
BSMR vs. SPMO - Volatility Comparison
The current volatility for Invesco BulletShares 2027 Municipal Bond ETF (BSMR) is 0.42%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 11.75%. This indicates that BSMR experiences smaller price fluctuations and is considered to be less risky than SPMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| BSMR | SPMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.42% | 11.75% | -11.33% |
Volatility (6M)Calculated over the trailing 6-month period | 0.97% | 17.78% | -16.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.28% | 20.55% | -19.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.02% | 19.88% | -16.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.70% | 20.60% | -14.90% |
BSMR vs. SPMO - Expense Ratio Comparison
BSMR has a 0.18% expense ratio, which is higher than SPMO's 0.13% 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. SPMO - Dividend Comparison
BSMR's dividend yield for the trailing twelve months is around 2.71%, more than SPMO's 0.68% 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% |
SPMO Invesco S&P 500 Momentum ETF | 0.68% | 0.73% | 0.48% | 1.63% | 1.66% | 0.52% | 1.27% | 1.39% | 1.05% | 0.77% | 1.94% | 0.36% |
Frequently Asked Questions
BSMR and SPMO have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPMO has higher volatility (11.75%) compared to BSMR (0.42%). In terms of maximum drawdown, BSMR dropped -13.49% vs SPMO's -30.95%.
On 5-year performance, SPMO leads with 22.89% vs 0.51% for BSMR. On fees, SPMO is cheaper at 0.13% 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 5-year period, SPMO has performed better with a 22.89% return vs 0.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPMO is cheaper with a 0.13% expense ratio, compared with 0.18% for BSMR.
BSMR has the higher dividend yield at 2.71%, compared with 0.68% for SPMO.
BSMR is categorized as Municipal Bonds, while SPMO is Momentum. BSMR tracks Invesco BulletShares Municipal Bond 2027 Index, while SPMO tracks S&P 500 Momentum Index. Their fees differ too: 0.18% for BSMR and 0.13% for SPMO.
BSMR currently has the higher Sharpe Ratio (3.01 vs 2.13), 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.
Find the right allocation for BSMR and SPMO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer