BSMS vs. PIT
BSMS (Invesco BulletShares 2028 Municipal Bond ETF) and PIT (VanEck Commodity Strategy ETF) are both exchange-traded funds - BSMS is a Municipal Bonds fund tracking the Invesco BulletShares Municipal Bond 2028 Index, while PIT is a Commodities fund actively managed by VanEck. BSMS is passively managed, while PIT is actively managed. Over the past 3 years, BSMS returned 3.05%/yr vs 24.30%/yr for PIT. At a correlation of -0.06, they often move in opposite directions. BSMS charges 0.18%/yr vs 0.55%/yr for PIT.
Performance
BSMS vs. PIT - 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 PIT's 41.36% return.
BSMS
- 1D
- 0.04%
- 1M
- 0.18%
- YTD
- 0.82%
- 6M
- 1.20%
- 1Y
- 4.26%
- 3Y*
- 3.05%
- 5Y*
- 0.07%
- 10Y*
- —
PIT
- 1D
- 0.58%
- 1M
- -2.84%
- YTD
- 41.36%
- 6M
- 42.58%
- 1Y
- 62.93%
- 3Y*
- 24.30%
- 5Y*
- —
- 10Y*
- —
BSMS vs. PIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BSMS Invesco BulletShares 2028 Municipal Bond ETF | 0.82% | 3.61% | 1.00% | 4.99% | -0.26% |
PIT VanEck Commodity Strategy ETF | 41.36% | 21.63% | 6.77% | -4.54% | 2.74% |
Correlation
The correlation between BSMS and PIT is -0.24, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since Dec 23, 2022 | -0.06 |
The correlation between BSMS and PIT shifts across timeframes, from -0.24 (1 year) to -0.06 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BSMS vs. PIT — Risk / Return Rank
BSMS
PIT
BSMS vs. PIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2028 Municipal Bond ETF (BSMS) and VanEck Commodity Strategy ETF (PIT). 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 | PIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.63 | 1.52 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 4.08 | 6.83 | -2.74 |
| Martin ratioReturn relative to average drawdown | 11.81 | 23.27 | -11.46 |
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 | PIT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.86 | 2.97 | -0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.19 | 1.07 | -0.88 |
Drawdowns
BSMS vs. PIT - Drawdown Comparison
The maximum BSMS drawdown since its inception was -14.95%, which is greater than PIT's maximum drawdown of -12.27%. Use the drawdown chart below to compare losses from any high point for BSMS and PIT.
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Drawdown Indicators
| BSMS | PIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.95% | -12.27% | -2.68% |
Max Drawdown (1Y)Largest decline over 1 year | -1.05% | -9.27% | +8.22% |
Max Drawdown (3Y)Largest decline over 3 years | -4.25% | -12.27% | +8.02% |
Max Drawdown (5Y)Largest decline over 5 years | -14.95% | — | — |
Current DrawdownCurrent decline from peak | -1.09% | -4.56% | +3.47% |
Average DrawdownAverage peak-to-trough decline | -4.97% | -3.99% | -0.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.36% | 2.71% | -2.35% |
Volatility
BSMS vs. PIT - Volatility Comparison
The current volatility for Invesco BulletShares 2028 Municipal Bond ETF (BSMS) is 0.50%, while VanEck Commodity Strategy ETF (PIT) has a volatility of 6.08%. This indicates that BSMS experiences smaller price fluctuations and is considered to be less risky than PIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSMS | PIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.50% | 6.08% | -5.58% |
Volatility (6M)Calculated over the trailing 6-month period | 0.91% | 19.02% | -18.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.50% | 21.30% | -19.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.60% | 17.47% | -13.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.21% | 17.47% | -11.26% |
BSMS vs. PIT - Expense Ratio Comparison
BSMS has a 0.18% expense ratio, which is lower than PIT's 0.55% expense ratio.
Dividends
BSMS vs. PIT - Dividend Comparison
BSMS's dividend yield for the trailing twelve months is around 2.77%, less than PIT's 6.31% 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% |
PIT VanEck Commodity Strategy ETF | 6.31% | 8.92% | 3.59% | 6.44% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BSMS and PIT have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PIT has higher volatility (6.08%) compared to BSMS (0.50%). In terms of maximum drawdown, BSMS dropped -14.95% vs PIT's -12.27%.
On 3-year performance, PIT leads with 24.30% vs 3.05% for BSMS. On fees, BSMS is cheaper at 0.18% per year. On volatility, BSMS has been the lower-risk option at 0.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, PIT has performed better with a 24.30% return vs 3.05%. 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 0.55% for PIT.
PIT has the higher dividend yield at 6.31%, compared with 2.77% for BSMS.
BSMS is categorized as Municipal Bonds, while PIT is Commodities. They also come from different issuers: Invesco and VanEck. Their fees differ too: 0.18% for BSMS and 0.55% for PIT.
PIT currently has the higher Sharpe Ratio (2.97 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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