BSMT vs. FLEX
BSMT (Invesco BulletShares 2029 Municipal Bond ETF) is Municipal Bonds fund tracking the Invesco BulletShares Municipal Bond 2029 Index, while FLEX (Flex Ltd.) is a stock. Over the past 5 years, BSMT returned -0.13%/yr vs 72.21%/yr for FLEX. At a 0.07 correlation, their price movements are largely independent.
Performance
BSMT vs. FLEX - Performance Comparison
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Returns By Period
In the year-to-date period, BSMT achieves a 0.82% return, which is significantly lower than FLEX's 149.45% return.
BSMT
- 1D
- -0.20%
- 1M
- 0.58%
- YTD
- 0.82%
- 6M
- 0.99%
- 1Y
- 4.40%
- 3Y*
- 2.81%
- 5Y*
- -0.13%
- 10Y*
- —
FLEX
- 1D
- -0.74%
- 1M
- 13.78%
- YTD
- 149.45%
- 6M
- 137.17%
- 1Y
- 214.59%
- 3Y*
- 117.76%
- 5Y*
- 72.21%
- 10Y*
- 36.26%
BSMT vs. FLEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BSMT Invesco BulletShares 2029 Municipal Bond ETF | 0.82% | 3.79% | 0.38% | 5.41% | -11.01% | 1.42% | 6.96% | 0.00% |
FLEX Flex Ltd. | 149.45% | 57.38% | 127.87% | 41.94% | 17.08% | 1.95% | 42.47% | 23.36% |
Correlation
The correlation between BSMT and FLEX is 0.07, 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 | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Sep 25, 2019 | 0.07 |
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Return for Risk
BSMT vs. FLEX — Risk / Return Rank
BSMT
FLEX
BSMT vs. FLEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2029 Municipal Bond ETF (BSMT) 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.
| BSMT | FLEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.54 | 1.55 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.77 | 11.75 | -8.98 |
| Martin ratioReturn relative to average drawdown | 8.76 | 27.43 | -18.67 |
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Drawdowns
BSMT vs. FLEX - Drawdown Comparison
The maximum BSMT drawdown since its inception was -16.20%, smaller than the maximum FLEX drawdown of -96.37%. Use the drawdown chart below to compare losses from any high point for BSMT and FLEX.
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Drawdown Indicators
| BSMT | FLEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.20% | -96.37% | +80.17% |
Max Drawdown (1Y)Largest decline over 1 year | -1.60% | -18.38% | +16.78% |
Max Drawdown (3Y)Largest decline over 3 years | -4.79% | -39.99% | +35.20% |
Max Drawdown (5Y)Largest decline over 5 years | -16.20% | -39.99% | +23.79% |
Max Drawdown (10Y)Largest decline over 10 years | — | -70.02% | — |
Current DrawdownCurrent decline from peak | -2.20% | -6.93% | +4.73% |
Average DrawdownAverage peak-to-trough decline | -5.61% | -55.23% | +49.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.50% | 7.86% | -7.36% |
Volatility
BSMT vs. FLEX - Volatility Comparison
The current volatility for Invesco BulletShares 2029 Municipal Bond ETF (BSMT) is 0.62%, while Flex Ltd. (FLEX) has a volatility of 18.52%. This indicates that BSMT 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
| BSMT | FLEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.62% | 18.52% | -17.90% |
Volatility (6M)Calculated over the trailing 6-month period | 1.22% | 50.53% | -49.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.80% | 61.79% | -59.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.24% | 47.34% | -43.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.39% | 45.89% | -39.50% |
Dividends
BSMT vs. FLEX - Dividend Comparison
BSMT's dividend yield for the trailing twelve months is around 2.74%, while FLEX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BSMT Invesco BulletShares 2029 Municipal Bond ETF | 2.74% | 2.78% | 2.80% | 2.62% | 1.65% | 1.31% | 1.82% | 0.48% |
FLEX Flex Ltd. | 0.00% | 0.00% | 21.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BSMT and FLEX have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLEX has higher volatility (18.52%) compared to BSMT (0.62%). In terms of maximum drawdown, BSMT dropped -16.20% vs FLEX's -96.37%.
FLEX currently has the higher Sharpe Ratio (3.50 vs 2.45), 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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