BSMT vs. PSCE
BSMT (Invesco BulletShares 2029 Municipal Bond ETF) and PSCE (Invesco S&P SmallCap Energy ETF) are both exchange-traded funds - BSMT is a Municipal Bonds fund tracking the Invesco BulletShares Municipal Bond 2029 Index, while PSCE is a Energy Equities fund tracking the S&P SmallCap 600 Energy Index. Both are passively managed. Over the past 5 years, BSMT returned -0.13%/yr vs 7.87%/yr for PSCE. At a correlation of -0.05, they often move in opposite directions. BSMT charges 0.18%/yr vs 0.29%/yr for PSCE.
Performance
BSMT vs. PSCE - 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 PSCE's 29.21% return.
BSMT
- 1D
- -0.20%
- 1M
- 0.58%
- YTD
- 0.82%
- 6M
- 0.99%
- 1Y
- 4.40%
- 3Y*
- 2.81%
- 5Y*
- -0.13%
- 10Y*
- —
PSCE
- 1D
- -2.38%
- 1M
- -11.98%
- YTD
- 29.21%
- 6M
- 29.24%
- 1Y
- 43.54%
- 3Y*
- 9.42%
- 5Y*
- 7.87%
- 10Y*
- -2.65%
BSMT vs. PSCE - 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% |
PSCE Invesco S&P SmallCap Energy ETF | 29.21% | -9.00% | -5.47% | 5.07% | 48.45% | 59.85% | -40.31% | 0.40% |
Correlation
The correlation between BSMT and PSCE is -0.14, 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 | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Sep 25, 2019 | -0.05 |
The correlation between BSMT and PSCE shifts across timeframes, from -0.14 (1 year) to 0.01 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
BSMT vs. PSCE — Risk / Return Rank
BSMT
PSCE
BSMT vs. PSCE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2029 Municipal Bond ETF (BSMT) and Invesco S&P SmallCap Energy ETF (PSCE). 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 | PSCE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.86 | ||
| Sortino ratioReturn per unit of downside risk | +1.78 | ||
| Omega ratioGain probability vs. loss probability | 1.54 | 1.26 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 2.77 | 3.19 | -0.42 |
| Martin ratioReturn relative to average drawdown | 8.76 | 10.32 | -1.56 |
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Drawdowns
BSMT vs. PSCE - Drawdown Comparison
The maximum BSMT drawdown since its inception was -16.20%, smaller than the maximum PSCE drawdown of -96.21%. Use the drawdown chart below to compare losses from any high point for BSMT and PSCE.
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Drawdown Indicators
| BSMT | PSCE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.20% | -96.21% | +80.01% |
Max Drawdown (1Y)Largest decline over 1 year | -1.60% | -13.72% | +12.12% |
Max Drawdown (3Y)Largest decline over 3 years | -4.79% | -44.57% | +39.78% |
Max Drawdown (5Y)Largest decline over 5 years | -16.20% | -45.42% | +29.22% |
Max Drawdown (10Y)Largest decline over 10 years | — | -90.70% | — |
Current DrawdownCurrent decline from peak | -2.20% | -77.04% | +74.84% |
Average DrawdownAverage peak-to-trough decline | -5.61% | -58.88% | +53.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.50% | 4.23% | -3.73% |
Volatility
BSMT vs. PSCE - Volatility Comparison
The current volatility for Invesco BulletShares 2029 Municipal Bond ETF (BSMT) is 0.62%, while Invesco S&P SmallCap Energy ETF (PSCE) has a volatility of 9.00%. This indicates that BSMT experiences smaller price fluctuations and is considered to be less risky than PSCE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSMT | PSCE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.62% | 9.00% | -8.38% |
Volatility (6M)Calculated over the trailing 6-month period | 1.22% | 19.12% | -17.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.80% | 27.38% | -25.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.24% | 37.39% | -33.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.39% | 43.19% | -36.80% |
BSMT vs. PSCE - Expense Ratio Comparison
BSMT has a 0.18% expense ratio, which is lower than PSCE's 0.29% expense ratio.
Dividends
BSMT vs. PSCE - Dividend Comparison
BSMT's dividend yield for the trailing twelve months is around 2.74%, more than PSCE's 2.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSMT Invesco BulletShares 2029 Municipal Bond ETF | 2.74% | 2.78% | 2.80% | 2.62% | 1.65% | 1.31% | 1.82% | 0.48% | 0.00% | 0.00% | 0.00% | 0.00% |
PSCE Invesco S&P SmallCap Energy ETF | 2.34% | 2.39% | 1.70% | 2.57% | 1.70% | 0.46% | 0.87% | 0.14% | 0.22% | 0.04% | 0.22% | 0.82% |
Frequently Asked Questions
BSMT and PSCE have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PSCE has higher volatility (9.00%) compared to BSMT (0.62%). In terms of maximum drawdown, BSMT dropped -16.20% vs PSCE's -96.21%.
On 5-year performance, PSCE leads with 7.87% vs -0.13% for BSMT. On fees, BSMT is cheaper at 0.18% per year. On volatility, BSMT has been the lower-risk option at 0.62%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PSCE has performed better with a 7.87% return vs -0.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BSMT is cheaper with a 0.18% expense ratio, compared with 0.29% for PSCE.
BSMT has the higher dividend yield at 2.74%, compared with 2.34% for PSCE.
BSMT is categorized as Municipal Bonds, while PSCE is Energy Equities. BSMT tracks Invesco BulletShares Municipal Bond 2029 Index, while PSCE tracks S&P SmallCap 600 Energy Index. Their fees differ too: 0.18% for BSMT and 0.29% for PSCE.
BSMT currently has the higher Sharpe Ratio (2.45 vs 1.60), 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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