BSMS vs. MEAR
BSMS (Invesco BulletShares 2028 Municipal Bond ETF) and MEAR (iShares Short Maturity Municipal Bond ETF) are both Municipal Bonds funds. BSMS is passively managed, while MEAR is actively managed. Over the past 5 years, BSMS returned 0.07%/yr vs 2.43%/yr for MEAR. At a 0.23 correlation, their price movements are largely independent. BSMS charges 0.18%/yr vs 0.25%/yr for MEAR.
Performance
BSMS vs. MEAR - 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 MEAR's 1.06% return.
BSMS
- 1D
- 0.04%
- 1M
- 0.18%
- YTD
- 0.82%
- 6M
- 1.20%
- 1Y
- 4.26%
- 3Y*
- 3.05%
- 5Y*
- 0.07%
- 10Y*
- —
MEAR
- 1D
- 0.00%
- 1M
- 0.32%
- YTD
- 1.06%
- 6M
- 1.30%
- 1Y
- 3.29%
- 3Y*
- 3.58%
- 5Y*
- 2.43%
- 10Y*
- 1.78%
BSMS vs. MEAR - 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% |
MEAR iShares Short Maturity Municipal Bond ETF | 1.06% | 3.76% | 3.40% | 3.93% | 0.10% | 0.05% | 1.18% | 0.40% |
Correlation
The correlation between BSMS and MEAR is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2019 | 0.23 |
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Return for Risk
BSMS vs. MEAR — Risk / Return Rank
BSMS
MEAR
BSMS vs. MEAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2028 Municipal Bond ETF (BSMS) and iShares Short Maturity Municipal Bond ETF (MEAR). 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 | MEAR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.00 | ||
| Sortino ratioReturn per unit of downside risk | -1.76 | ||
| Omega ratioGain probability vs. loss probability | 1.63 | 1.91 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 4.08 | 7.07 | -2.98 |
| Martin ratioReturn relative to average drawdown | 11.81 | 28.99 | -17.18 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BSMS | MEAR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.86 | 3.86 | -1.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | 2.48 | -2.46 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.18 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.19 | 1.11 | -0.92 |
Drawdowns
BSMS vs. MEAR - Drawdown Comparison
The maximum BSMS drawdown since its inception was -14.95%, which is greater than MEAR's maximum drawdown of -2.68%. Use the drawdown chart below to compare losses from any high point for BSMS and MEAR.
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Drawdown Indicators
| BSMS | MEAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.95% | -2.68% | -12.27% |
Max Drawdown (1Y)Largest decline over 1 year | -1.05% | -0.47% | -0.58% |
Max Drawdown (3Y)Largest decline over 3 years | -4.25% | -0.86% | -3.39% |
Max Drawdown (5Y)Largest decline over 5 years | -14.95% | -1.12% | -13.83% |
Max Drawdown (10Y)Largest decline over 10 years | — | -2.68% | — |
Current DrawdownCurrent decline from peak | -1.09% | 0.00% | -1.09% |
Average DrawdownAverage peak-to-trough decline | -4.97% | -0.19% | -4.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.36% | 0.11% | +0.25% |
Volatility
BSMS vs. MEAR - Volatility Comparison
Invesco BulletShares 2028 Municipal Bond ETF (BSMS) has a higher volatility of 0.50% compared to iShares Short Maturity Municipal Bond ETF (MEAR) at 0.24%. This indicates that BSMS's price experiences larger fluctuations and is considered to be riskier than MEAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSMS | MEAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.50% | 0.24% | +0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 0.91% | 0.61% | +0.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.50% | 0.86% | +0.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.60% | 0.98% | +2.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.21% | 1.52% | +4.69% |
BSMS vs. MEAR - Expense Ratio Comparison
BSMS has a 0.18% expense ratio, which is lower than MEAR's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
BSMS vs. MEAR - Dividend Comparison
BSMS's dividend yield for the trailing twelve months is around 2.77%, less than MEAR's 2.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSMS Invesco BulletShares 2028 Municipal Bond ETF | 2.77% | 2.79% | 2.81% | 2.58% | 1.56% | 1.49% | 1.61% | 0.46% | 0.00% | 0.00% | 0.00% | 0.00% |
MEAR iShares Short Maturity Municipal Bond ETF | 2.84% | 2.95% | 3.44% | 3.30% | 0.88% | 0.30% | 0.90% | 1.57% | 1.36% | 1.01% | 0.81% | 0.53% |
Frequently Asked Questions
BSMS and MEAR have a correlation of 0.26, 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 MEAR (0.24%). In terms of maximum drawdown, BSMS dropped -14.95% vs MEAR's -2.68%.
On 5-year performance, MEAR leads with 2.43% vs 0.07% for BSMS. On fees, BSMS is cheaper at 0.18% per year. On volatility, MEAR has been the lower-risk option at 0.24%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, MEAR has performed better with a 2.43% return vs 0.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BSMS is cheaper with a 0.18% expense ratio, compared with 0.25% for MEAR.
MEAR has the higher dividend yield at 2.84%, compared with 2.77% for BSMS.
They also come from different issuers: Invesco and iShares. Their fees differ too: 0.18% for BSMS and 0.25% for MEAR.
MEAR currently has the higher Sharpe Ratio (3.86 vs 2.86), 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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