BSMS vs. IBMO
BSMS (Invesco BulletShares 2028 Municipal Bond ETF) and IBMO (iShares iBonds Dec 2026 Term Muni Bond ETF) are both Municipal Bonds funds - BSMS tracks the Invesco BulletShares Municipal Bond 2028 Index while IBMO tracks the S&P AMT-Free Municipal Series Callable-Adjusted Dec 2026 Index. Both are passively managed. Over the past 5 years, BSMS returned 0.07%/yr vs 0.67%/yr for IBMO. A 0.51 correlation means they provide meaningful diversification when combined. Both charge a 0.18% expense ratio.
Performance
BSMS vs. IBMO - Performance Comparison
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Returns By Period
In the year-to-date period, BSMS achieves a 0.82% return, which is significantly lower than IBMO's 0.94% return.
BSMS
- 1D
- 0.04%
- 1M
- 0.18%
- YTD
- 0.82%
- 6M
- 1.20%
- 1Y
- 4.26%
- 3Y*
- 3.05%
- 5Y*
- 0.07%
- 10Y*
- —
IBMO
- 1D
- 0.01%
- 1M
- 0.26%
- YTD
- 0.94%
- 6M
- 1.23%
- 1Y
- 2.71%
- 3Y*
- 2.97%
- 5Y*
- 0.67%
- 10Y*
- —
BSMS vs. IBMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BSMS Invesco BulletShares 2028 Municipal Bond ETF | 0.82% | 3.61% | 1.00% | 4.99% | -9.93% | 1.50% | 6.55% | 0.22% |
IBMO iShares iBonds Dec 2026 Term Muni Bond ETF | 0.94% | 3.11% | 1.97% | 2.90% | -5.36% | -0.16% | 5.48% | 0.56% |
Correlation
The correlation between BSMS and IBMO is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2019 | 0.51 |
Over the past year, the correlation between BSMS and IBMO has dropped to 0.09 - well below their long-term average of 0.51, suggesting their price drivers have been diverging.
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Return for Risk
BSMS vs. IBMO — Risk / Return Rank
BSMS
IBMO
BSMS vs. IBMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2028 Municipal Bond ETF (BSMS) and iShares iBonds Dec 2026 Term Muni Bond ETF (IBMO). 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.
| BSMS | IBMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.39 | ||
| Sortino ratioReturn per unit of downside risk | +0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.63 | 1.51 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 4.08 | 7.20 | -3.11 |
| Martin ratioReturn relative to average drawdown | 11.81 | 21.39 | -9.59 |
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
| BSMS | IBMO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.86 | 2.47 | +0.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | 0.31 | -0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.19 | 0.41 | -0.21 |
Drawdowns
BSMS vs. IBMO - Drawdown Comparison
The maximum BSMS drawdown since its inception was -14.95%, roughly equal to the maximum IBMO drawdown of -14.77%. Use the drawdown chart below to compare losses from any high point for BSMS and IBMO.
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Drawdown Indicators
| BSMS | IBMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.95% | -14.77% | -0.18% |
Max Drawdown (1Y)Largest decline over 1 year | -1.05% | -0.38% | -0.67% |
Max Drawdown (3Y)Largest decline over 3 years | -4.25% | -1.76% | -2.49% |
Max Drawdown (5Y)Largest decline over 5 years | -14.95% | -8.86% | -6.09% |
Current DrawdownCurrent decline from peak | -1.09% | 0.00% | -1.09% |
Average DrawdownAverage peak-to-trough decline | -4.97% | -2.32% | -2.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.36% | 0.13% | +0.23% |
Volatility
BSMS vs. IBMO - Volatility Comparison
Invesco BulletShares 2028 Municipal Bond ETF (BSMS) has a higher volatility of 0.50% compared to iShares iBonds Dec 2026 Term Muni Bond ETF (IBMO) at 0.21%. This indicates that BSMS's price experiences larger fluctuations and is considered to be riskier than IBMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSMS | IBMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.50% | 0.21% | +0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 0.91% | 0.84% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.50% | 1.11% | +0.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.60% | 2.15% | +1.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.21% | 4.52% | +1.69% |
BSMS vs. IBMO - Expense Ratio Comparison
Both BSMS and IBMO have an expense ratio of 0.18%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
BSMS vs. IBMO - Dividend Comparison
BSMS's dividend yield for the trailing twelve months is around 2.77%, more than IBMO's 2.39% yield.
| 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% |
IBMO iShares iBonds Dec 2026 Term Muni Bond ETF | 2.39% | 2.37% | 2.15% | 1.65% | 0.89% | 0.62% | 1.03% | 1.01% |
Frequently Asked Questions
BSMS and IBMO have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BSMS has higher volatility (0.50%) compared to IBMO (0.21%). In terms of maximum drawdown, BSMS dropped -14.95% vs IBMO's -14.77%.
On 5-year performance, IBMO leads with 0.67% vs 0.07% for BSMS. Both ETFs have the same 0.18% expense ratio. On volatility, IBMO has been the lower-risk option at 0.21%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IBMO has performed better with a 0.67% return vs 0.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BSMS and IBMO have the same expense ratio: 0.18% per year.
BSMS has the higher dividend yield at 2.77%, compared with 2.39% for IBMO.
BSMS tracks Invesco BulletShares Municipal Bond 2028 Index, while IBMO tracks S&P AMT-Free Municipal Series Callable-Adjusted Dec 2026 Index. They also come from different issuers: Invesco and iShares.
BSMS currently has the higher Sharpe Ratio (2.86 vs 2.47), 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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