BSMS vs. FLEX
BSMS (Invesco BulletShares 2028 Municipal Bond ETF) is Municipal Bonds fund tracking the Invesco BulletShares Municipal Bond 2028 Index, while FLEX (Flex Ltd.) is a stock. Over the past 5 years, BSMS returned -0.16%/yr vs 64.44%/yr for FLEX. Their 0.06 correlation means their historical movements had little consistent relationship.
Performance
BSMS vs. FLEX - Performance Comparison
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Returns By Period
In the year-to-date period, BSMS achieves a 0.96% return, which is significantly lower than FLEX's 94.39% return.
BSMS
- 1D
- 0.06%
- 1M
- -0.32%
- 6M
- 0.38%
- YTD
- 0.96%
- 1Y
- 2.99%
- 3Y*
- 3.02%
- 5Y*
- -0.16%
- 10Y*
- —
- ALL TIME*
- 1.17%
FLEX
- 1D
- 3.25%
- 1M
- -14.18%
- 6M
- 81.59%
- YTD
- 94.39%
- 1Y
- 137.18%
- 3Y*
- 98.79%
- 5Y*
- 64.44%
- 10Y*
- 32.59%
- ALL TIME*
- 15.67%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.71M | $1.35M | $1.38M | |
FLEX Flex Ltd. | $699.10M | $604.53M | $1.03B |
BSMS vs. FLEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BSMS Invesco BulletShares 2028 Municipal Bond ETF | 0.96% | 3.61% | 1.00% | 4.99% | -9.93% | 1.50% | 6.55% | 0.22% |
FLEX Flex Ltd. | 94.39% | 57.38% | 127.87% | 41.94% | 17.08% | 1.95% | 42.47% | 19.96% |
Correlation
The correlation between BSMS and FLEX is 0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.04 |
Correlation (3Y) Balances recent behavior with more history. | 0.09 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.08 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019 | 0.06 |
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Return for Risk
BSMS vs. FLEX — Risk / Return Rank
BSMS
FLEX
BSMS vs. FLEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2028 Municipal Bond ETF (BSMS) and Flex Ltd. (FLEX). 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.
| BSMS | FLEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.37 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.87 | 3.79 | -0.92 |
| Martin ratioReturn relative to average drawdown | 7.87 | 13.24 | -5.36 |
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Drawdowns
BSMS vs. FLEX - Drawdown Comparison
The maximum BSMS drawdown since its inception was -14.95%, smaller than the maximum FLEX drawdown of -96.37%. Use the drawdown chart below to compare losses from any high point for BSMS and FLEX.
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Drawdown Indicators
| BSMS | FLEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.95% | -96.37% | +81.42% |
Max Drawdown (1Y)Largest decline over 1 year | -1.05% | -36.43% | +35.38% |
Max Drawdown (3Y)Largest decline over 3 years | -3.59% | -39.99% | +36.40% |
Max Drawdown (5Y)Largest decline over 5 years | -14.73% | -39.99% | +25.26% |
Max Drawdown (10Y)Largest decline over 10 years | — | -70.02% | — |
Current DrawdownCurrent decline from peak | -0.96% | -27.53% | +26.57% |
Average DrawdownAverage peak-to-trough decline | -4.87% | -55.11% | +50.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.38% | 10.40% | -10.02% |
Volatility
BSMS vs. FLEX - Volatility Comparison
The current volatility for Invesco BulletShares 2028 Municipal Bond ETF (BSMS) is 0.63%, while Flex Ltd. (FLEX) has a volatility of 20.60%. This indicates that BSMS experiences smaller price fluctuations and is considered to be less risky than FLEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSMS | FLEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.63% | 20.60% | -19.97% |
Volatility (6M)Calculated over the trailing 6-month period | 1.15% | 56.88% | -55.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.50% | 66.94% | -65.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.59% | 48.74% | -45.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.14% | 46.63% | -40.49% |
Dividends
BSMS vs. FLEX - Dividend Comparison
BSMS's dividend yield for the trailing twelve months is around 2.77%, while FLEX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BSMS Invesco BulletShares 2028 Municipal Bond ETF | 2.77% | 2.79% | 2.81% | 2.58% | 1.56% | 1.49% | 1.61% | 0.46% |
FLEX Flex Ltd. | 0.00% | 0.00% | 21.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BSMS and FLEX have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLEX has higher volatility (20.60%) compared to BSMS (0.63%). In terms of maximum drawdown, BSMS dropped -14.95% vs FLEX's -96.37%.
FLEX currently has the higher Sharpe Ratio (2.07 vs 2.01), 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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