BSMT vs. TNGY

Last updated Jun 25, 2026

BSMT (Invesco BulletShares 2029 Municipal Bond ETF) and TNGY (Tortoise Energy Fund) are both exchange-traded funds - BSMT is a Municipal Bonds fund tracking the Invesco BulletShares Municipal Bond 2029 Index, while TNGY is a Energy Equities fund actively managed by Tortoise Capital. BSMT is passively managed, while TNGY is actively managed. Over the past year, BSMT returned 4.40% vs 11.35% for TNGY. At a correlation of -0.15, they often move in opposite directions. BSMT charges 0.18%/yr vs 0.85%/yr for TNGY.

Performance

BSMT vs. TNGY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco BulletShares 2029 Municipal Bond ETF (BSMT) and Tortoise Energy Fund (TNGY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BSMT achieves a 0.82% return, which is significantly lower than TNGY's 9.61% return.

BSMT

• 1D: -0.20%
• 1M: 0.58%
• YTD: 0.82%
• 6M: 0.99%
• 1Y: 4.40%
• 3Y*: 2.81%
• 5Y*: -0.13%
• 10Y*: —

TNGY

• 1D: -1.11%
• 1M: -6.49%
• YTD: 9.61%
• 6M: 10.43%
• 1Y: 11.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BSMT vs. TNGY - Yearly Performance Comparison

	2026 (YTD)	2025
BSMT Invesco BulletShares 2029 Municipal Bond ETF	0.82%	3.95%
TNGY Tortoise Energy Fund	9.61%	-2.37%

Correlation

The correlation between BSMT and TNGY is -0.13, 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	-0.13
Correlation (All Time) Calculated using the full available price history since Jun 16, 2025	-0.15

Return for Risk

BSMT vs. TNGY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BSMT

BSMT Risk / Return Rank: 78
BSMT Sharpe Ratio Rank: 86
BSMT Sortino Ratio Rank: 92
BSMT Omega Ratio Rank: 92
BSMT Calmar Ratio Rank: 64
BSMT Martin Ratio Rank: 56

TNGY

TNGY Risk / Return Rank: 23
TNGY Sharpe Ratio Rank: 22
TNGY Sortino Ratio Rank: 20
TNGY Omega Ratio Rank: 20
TNGY Calmar Ratio Rank: 26
TNGY Martin Ratio Rank: 27

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BSMT vs. TNGY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2029 Municipal Bond ETF (BSMT) and Tortoise Energy Fund (TNGY). 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	TNGY	Difference
Sharpe ratio: Return per unit of total volatility	2.45	0.71	+1.74
Sortino ratio: Return per unit of downside risk	3.93	1.03	+2.90
Omega ratio: Gain probability vs. loss probability	1.54	1.13	+0.41
Calmar ratio: Return relative to maximum drawdown	2.77	1.16	+1.60
Martin ratio: Return relative to average drawdown	8.76	3.37	+5.39

BSMT vs. TNGY - Sharpe Ratio Comparison

The current BSMT Sharpe Ratio is 2.45, which is higher than the TNGY Sharpe Ratio of 0.71. The chart below compares the historical Sharpe Ratios of BSMT and TNGY, 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

BSMT vs. TNGY - Drawdown Comparison

The maximum BSMT drawdown since its inception was -16.20%, which is greater than TNGY's maximum drawdown of -9.79%. Use the drawdown chart below to compare losses from any high point for BSMT and TNGY.

Drawdown Indicators

	BSMT	TNGY	Difference
Max Drawdown Largest peak-to-trough decline	-16.20%	-9.79%	-6.41%
Max Drawdown (1Y) Largest decline over 1 year	-1.60%	-9.79%	+8.19%
Max Drawdown (3Y) Largest decline over 3 years	-4.79%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-16.20%	—	—
Current Drawdown Current decline from peak	-2.20%	-8.58%	+6.38%
Average Drawdown Average peak-to-trough decline	-5.61%	-3.60%	-2.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.50%	3.38%	-2.88%

Volatility

BSMT vs. TNGY - Volatility Comparison

The current volatility for Invesco BulletShares 2029 Municipal Bond ETF (BSMT) is 0.62%, while Tortoise Energy Fund (TNGY) has a volatility of 6.38%. This indicates that BSMT experiences smaller price fluctuations and is considered to be less risky than TNGY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BSMT	TNGY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.62%	6.38%	-5.76%
Volatility (6M) Calculated over the trailing 6-month period	1.22%	12.83%	-11.61%
Volatility (1Y) Calculated over the trailing 1-year period	1.80%	16.05%	-14.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.24%	16.45%	-12.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.39%	16.45%	-10.06%

BSMT vs. TNGY - Expense Ratio Comparison

BSMT has a 0.18% expense ratio, which is lower than TNGY's 0.85% expense ratio.

Dividends

BSMT vs. TNGY - Dividend Comparison

BSMT's dividend yield for the trailing twelve months is around 2.74%, less than TNGY's 3.59% 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%
TNGY Tortoise Energy Fund	3.59%	2.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BSMT and TNGY in my portfolio?

BSMT and TNGY have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BSMT or TNGY?

TNGY has higher volatility (6.38%) compared to BSMT (0.62%). In terms of maximum drawdown, BSMT dropped -16.20% vs TNGY's -9.79%.

Which ETF is better, BSMT or TNGY?

On 1-year performance, TNGY leads with 11.35% vs 4.40% 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.

Which ETF has performed better, BSMT or TNGY?

Over the 1-year period, TNGY has performed better with a 11.35% return vs 4.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BSMT or TNGY?

BSMT is cheaper with a 0.18% expense ratio, compared with 0.85% for TNGY.

Which ETF pays a higher dividend yield, BSMT or TNGY?

TNGY has the higher dividend yield at 3.59%, compared with 2.74% for BSMT.

What is the main difference between BSMT and TNGY?

BSMT is categorized as Municipal Bonds, while TNGY is Energy Equities. They also come from different issuers: Invesco and Tortoise Capital. Their fees differ too: 0.18% for BSMT and 0.85% for TNGY.

Which has better risk-adjusted returns?

BSMT currently has the higher Sharpe Ratio (2.45 vs 0.71), 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.