BSMT vs. MMMA
BSMT (Invesco BulletShares 2029 Municipal Bond ETF) and MMMA (NYLI MacKay Muni Allocation ETF) are both Municipal Bonds funds. BSMT is passively managed, while MMMA is actively managed. A 0.53 correlation means they provide meaningful diversification when combined. BSMT charges 0.18%/yr vs 0.35%/yr for MMMA.
Performance
BSMT vs. MMMA - Performance Comparison
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Returns By Period
In the year-to-date period, BSMT achieves a 0.84% return, which is significantly lower than MMMA's 3.81% return.
BSMT
- 1D
- 0.02%
- 1M
- 0.33%
- YTD
- 0.84%
- 6M
- 1.01%
- 1Y
- 4.40%
- 3Y*
- 2.86%
- 5Y*
- -0.12%
- 10Y*
- —
MMMA
- 1D
- 0.14%
- 1M
- 1.40%
- YTD
- 3.81%
- 6M
- 3.83%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BSMT vs. MMMA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BSMT Invesco BulletShares 2029 Municipal Bond ETF | 0.84% | 0.37% |
MMMA NYLI MacKay Muni Allocation ETF | 3.81% | 0.35% |
Correlation
The correlation between BSMT and MMMA is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 16, 2025 | 0.53 |
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Return for Risk
BSMT vs. MMMA — Risk / Return Rank
BSMT
MMMA
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BSMT vs. MMMA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2029 Municipal Bond ETF (BSMT) and NYLI MacKay Muni Allocation ETF (MMMA). 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 | MMMA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.54 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.77 | — | — |
| Martin ratioReturn relative to average drawdown | 8.73 | — | — |
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Drawdowns
BSMT vs. MMMA - Drawdown Comparison
The maximum BSMT drawdown since its inception was -16.20%, which is greater than MMMA's maximum drawdown of -2.79%. Use the drawdown chart below to compare losses from any high point for BSMT and MMMA.
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Drawdown Indicators
| BSMT | MMMA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.20% | -2.79% | -13.41% |
Max Drawdown (1Y)Largest decline over 1 year | -1.60% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -4.79% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -16.20% | — | — |
Current DrawdownCurrent decline from peak | -2.18% | 0.00% | -2.18% |
Average DrawdownAverage peak-to-trough decline | -5.61% | -0.55% | -5.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.50% | — | — |
Volatility
BSMT vs. MMMA - Volatility Comparison
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Volatility by Period
| BSMT | MMMA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.56% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.22% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.80% | 4.01% | -2.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.24% | 4.01% | +0.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.39% | 4.01% | +2.38% |
BSMT vs. MMMA - Expense Ratio Comparison
BSMT has a 0.18% expense ratio, which is lower than MMMA's 0.35% expense ratio.
Dividends
BSMT vs. MMMA - Dividend Comparison
BSMT's dividend yield for the trailing twelve months is around 2.74%, more than MMMA's 1.94% yield.
| 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% |
MMMA NYLI MacKay Muni Allocation ETF | 1.94% | 0.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BSMT and MMMA have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BSMT is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BSMT is cheaper with a 0.18% expense ratio, compared with 0.35% for MMMA.
BSMT has the higher dividend yield at 2.74%, compared with 1.94% for MMMA.
They also come from different issuers: Invesco and NYLI. Their fees differ too: 0.18% for BSMT and 0.35% for MMMA.
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