BSMR vs. THYM

Last updated Jun 3, 2026

BSMR (Invesco BulletShares 2027 Municipal Bond ETF) and THYM (T. Rowe Price High Income Municipal ETF) are both exchange-traded funds - BSMR is a Municipal Bonds fund tracking the Invesco BulletShares Municipal Bond 2027 Index, while THYM is a High Yield Muni fund actively managed by T. Rowe Price. BSMR is passively managed, while THYM is actively managed. At a 0.30 correlation, their price movements are largely independent. BSMR charges 0.18%/yr vs 0.32%/yr for THYM.

Performance

BSMR vs. THYM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco BulletShares 2027 Municipal Bond ETF (BSMR) and T. Rowe Price High Income Municipal ETF (THYM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BSMR achieves a 0.99% return, which is significantly lower than THYM's 3.19% return.

BSMR

• 1D: 0.10%
• 1M: 0.28%
• YTD: 0.99%
• 6M: 1.26%
• 1Y: 4.15%
• 3Y*: 3.02%
• 5Y*: 0.49%
• 10Y*: —

THYM

• 1D: 0.13%
• 1M: 0.89%
• YTD: 3.19%
• 6M: 3.63%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BSMR vs. THYM - Yearly Performance Comparison

	2026 (YTD)	2025
BSMR Invesco BulletShares 2027 Municipal Bond ETF	0.99%	0.38%
THYM T. Rowe Price High Income Municipal ETF	3.19%	0.27%

Correlation

The correlation between BSMR and THYM is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 21, 2025	0.30

Return for Risk

BSMR vs. THYM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BSMR

BSMR Risk / Return Rank: 94
BSMR Sharpe Ratio Rank: 92
BSMR Sortino Ratio Rank: 96
BSMR Omega Ratio Rank: 95
BSMR Calmar Ratio Rank: 94
BSMR Martin Ratio Rank: 92

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BSMR vs. THYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2027 Municipal Bond ETF (BSMR) and T. Rowe Price High Income Municipal ETF (THYM). 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	THYM	Difference
Sharpe ratio Return per unit of total volatility	3.33	—	—
Sortino ratio Return per unit of downside risk	5.56	—	—
Omega ratio Gain probability vs. loss probability	1.74	—	—
Calmar ratio Return relative to maximum drawdown	7.29	—	—
Martin ratio Return relative to average drawdown	23.18	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	BSMR	THYM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.33	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.16	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	1.56	-1.35

Drawdowns

BSMR vs. THYM - Drawdown Comparison

The maximum BSMR drawdown since its inception was -13.49%, which is greater than THYM's maximum drawdown of -2.93%. Use the drawdown chart below to compare losses from any high point for BSMR and THYM.

Drawdown Indicators

	BSMR	THYM	Difference
Max Drawdown Largest peak-to-trough decline	-13.49%	-2.93%	-10.56%
Max Drawdown (1Y) Largest decline over 1 year	-0.57%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-3.50%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-12.02%	—	—
Current Drawdown Current decline from peak	-0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.49%	-0.49%	-3.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.18%	—	—

Volatility

Volatility by Period

	BSMR	THYM	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.36%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.92%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.25%	4.36%	-3.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.03%	4.36%	-1.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.73%	4.36%	+1.37%

BSMR vs. THYM - Expense Ratio Comparison

BSMR has a 0.18% expense ratio, which is lower than THYM's 0.32% expense ratio.

Dividends

BSMR vs. THYM - Dividend Comparison

BSMR's dividend yield for the trailing twelve months is around 2.72%, more than THYM's 2.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BSMR Invesco BulletShares 2027 Municipal Bond ETF	2.72%	2.77%	2.78%	2.72%	1.40%	1.00%	1.49%	0.45%
THYM T. Rowe Price High Income Municipal ETF	2.19%	0.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BSMR and THYM in my portfolio?

BSMR and THYM have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BSMR or THYM?

On fees, BSMR is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BSMR or THYM?

BSMR is cheaper with a 0.18% expense ratio, compared with 0.32% for THYM.

Which ETF pays a higher dividend yield, BSMR or THYM?

BSMR has the higher dividend yield at 2.72%, compared with 2.19% for THYM.

What is the main difference between BSMR and THYM?

BSMR is categorized as Municipal Bonds, while THYM is High Yield Muni. They also come from different issuers: Invesco and T. Rowe Price. Their fees differ too: 0.18% for BSMR and 0.32% for THYM.