BSMS vs. MSFW

Last updated Aug 4, 2026

BSMS (Invesco BulletShares 2028 Municipal Bond ETF) and MSFW (Roundhill MSFT WeeklyPay™ ETF) are both exchange-traded funds - BSMS is a Municipal Bonds fund tracking the Invesco BulletShares Municipal Bond 2028 Index, while MSFW is a Derivative Income fund actively managed by Roundhill. BSMS is passively managed, while MSFW is actively managed. Over the past year, BSMS returned 2.99% vs -11.69% for MSFW. Their 0.05 correlation means their historical movements had little consistent relationship. BSMS charges 0.18%/yr vs 0.99%/yr for MSFW.

Performance

BSMS vs. MSFW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco BulletShares 2028 Municipal Bond ETF (BSMS) and Roundhill MSFT WeeklyPay™ ETF (MSFW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BSMS achieves a 0.96% return, which is significantly higher than MSFW's -1.17% 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%

MSFW

• 1D: 6.13%
• 1M: 29.95%
• 6M: 16.42%
• YTD: -1.17%
• 1Y: -11.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -8.65%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BSMS Invesco BulletShares 2028 Municipal Bond ETF	$1.71M	$1.35M	$1.38M
MSFW Roundhill MSFT WeeklyPay™ ETF	$682.19K	$485.58K	$595.84K

BSMS vs. MSFW - Yearly Performance Comparison

	2026 (YTD)	2025
BSMS Invesco BulletShares 2028 Municipal Bond ETF	0.96%	2.79%
MSFW Roundhill MSFT WeeklyPay™ ETF	-1.17%	-7.80%

Correlation

The correlation between BSMS and MSFW is 0.05, 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.	0.05
Correlation (All Time) Calculated using the full available price history since Jul 24, 2025	0.05

Return for Risk

BSMS vs. MSFW — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BSMS

BSMS Risk / Return Rank: 78
BSMS Sharpe Ratio Rank: 82
BSMS Sortino Ratio Rank: 84
BSMS Omega Ratio Rank: 86
BSMS Calmar Ratio Rank: 77
BSMS Martin Ratio Rank: 62

MSFW

MSFW Risk / Return Rank: 7
MSFW Sharpe Ratio Rank: 7
MSFW Sortino Ratio Rank: 7
MSFW Omega Ratio Rank: 7
MSFW Calmar Ratio Rank: 7
MSFW Martin Ratio Rank: 8

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BSMS vs. MSFW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2028 Municipal Bond ETF (BSMS) and Roundhill MSFT WeeklyPay™ ETF (MSFW). 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	MSFW	Difference
Sharpe ratio: Return per unit of total volatility	2.01	-0.30	+2.31
Sortino ratio: Return per unit of downside risk	2.88	-0.20	+3.08
Omega ratio: Gain probability vs. loss probability	1.40	0.98	+0.42
Calmar ratio: Return relative to maximum drawdown	2.87	-0.28	+3.15
Martin ratio: Return relative to average drawdown	7.87	-0.49	+8.37

BSMS vs. MSFW - Sharpe Ratio Comparison

The current BSMS Sharpe Ratio is 2.01, which is higher than the MSFW Sharpe Ratio of -0.30. The chart below compares the historical Sharpe Ratios of BSMS and MSFW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BSMS vs. MSFW - Drawdown Comparison

The maximum BSMS drawdown since its inception was -14.95%, smaller than the maximum MSFW drawdown of -41.85%. Use the drawdown chart below to compare losses from any high point for BSMS and MSFW.

Drawdown Indicators

	BSMS	MSFW	Difference
Max Drawdown Largest peak-to-trough decline	-14.95%	-41.85%	+26.90%
Max Drawdown (1Y) Largest decline over 1 year	-1.05%	-41.85%	+40.80%
Max Drawdown (3Y) Largest decline over 3 years	-3.59%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-14.73%	—	—
Current Drawdown Current decline from peak	-0.96%	-14.54%	+13.58%
Average Drawdown Average peak-to-trough decline	-4.87%	-19.91%	+15.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.38%	23.81%	-23.43%

Volatility

BSMS vs. MSFW - Volatility Comparison

The current volatility for Invesco BulletShares 2028 Municipal Bond ETF (BSMS) is 0.63%, while Roundhill MSFT WeeklyPay™ ETF (MSFW) has a volatility of 19.19%. This indicates that BSMS experiences smaller price fluctuations and is considered to be less risky than MSFW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BSMS	MSFW	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.63%	19.19%	-18.56%
Volatility (6M) Calculated over the trailing 6-month period	1.15%	32.17%	-31.02%
Volatility (1Y) Calculated over the trailing 1-year period	1.50%	38.68%	-37.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.59%	38.51%	-34.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.14%	38.51%	-32.37%

BSMS vs. MSFW - Expense Ratio Comparison

BSMS has a 0.18% expense ratio, which is lower than MSFW's 0.99% expense ratio.

Dividends

BSMS vs. MSFW - Dividend Comparison

BSMS's dividend yield for the trailing twelve months is around 2.77%, less than MSFW's 40.59% 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%
MSFW Roundhill MSFT WeeklyPay™ ETF	40.59%	20.25%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BSMS and MSFW in my portfolio?

BSMS and MSFW have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BSMS or MSFW?

MSFW has higher volatility (19.19%) compared to BSMS (0.63%). In terms of maximum drawdown, BSMS dropped -14.95% vs MSFW's -41.85%.

Which ETF is better, BSMS or MSFW?

On 1-year performance, BSMS leads with 2.99% vs -11.69% for MSFW. On fees, BSMS is cheaper at 0.18% per year. On volatility, BSMS has been the lower-risk option at 0.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BSMS or MSFW?

Over the 1-year period, BSMS has performed better with a 2.99% return vs -11.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BSMS or MSFW?

BSMS is cheaper with a 0.18% expense ratio, compared with 0.99% for MSFW.

Which ETF pays a higher dividend yield, BSMS or MSFW?

MSFW has the higher dividend yield at 40.59%, compared with 2.77% for BSMS.

What is the main difference between BSMS and MSFW?

BSMS is categorized as Municipal Bonds, while MSFW is Derivative Income. They also come from different issuers: Invesco and Roundhill. Their fees differ too: 0.18% for BSMS and 0.99% for MSFW.

Which has better risk-adjusted returns?

BSMS currently has the higher Sharpe Ratio (2.01 vs -0.30), 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.