BSMT vs. ZMUN
BSMT (Invesco BulletShares 2029 Municipal Bond ETF) and ZMUN (F/m Ultrashort Tax-Free Municipal ETF) are both Municipal Bonds funds - BSMT tracks the Invesco BulletShares Municipal Bond 2029 Index while ZMUN tracks the Bloomberg Municipal Bond Currently Callable Index. Both are passively managed. Their 0.14 correlation means their historical movements had little consistent relationship. BSMT charges 0.18%/yr vs 0.30%/yr for ZMUN.
Performance
BSMT vs. ZMUN - Performance Comparison
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Returns By Period
In the year-to-date period, BSMT achieves a 0.68% return, which is significantly lower than ZMUN's 2.05% return.
BSMT
- 1D
- 0.35%
- 1M
- -0.14%
- 6M
- -0.06%
- YTD
- 0.68%
- 1Y
- 2.91%
- 3Y*
- 2.90%
- 5Y*
- -0.42%
- 10Y*
- —
- ALL TIME*
- 0.96%
ZMUN
- 1D
- -0.04%
- 1M
- 0.16%
- 6M
- 1.78%
- YTD
- 2.05%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.16M | $1.11M | $1.26M | |
| $248.73K | $278.36K | $387.17K |
BSMT vs. ZMUN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BSMT Invesco BulletShares 2029 Municipal Bond ETF | 0.68% | 1.01% |
ZMUN F/m Ultrashort Tax-Free Municipal ETF | 2.05% | 0.67% |
Correlation
The correlation between BSMT and ZMUN is 0.14, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 30, 2025 | 0.14 |
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Return for Risk
BSMT vs. ZMUN — Risk / Return Rank
BSMT
ZMUN
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BSMT vs. ZMUN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2029 Municipal Bond ETF (BSMT) and F/m Ultrashort Tax-Free Municipal ETF (ZMUN). 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 | ZMUN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.32 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | — | — |
| Martin ratioReturn relative to average drawdown | 5.17 | — | — |
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Drawdowns
BSMT vs. ZMUN - Drawdown Comparison
The maximum BSMT drawdown since its inception was -16.20%, which is greater than ZMUN's maximum drawdown of -0.13%. Use the drawdown chart below to compare losses from any high point for BSMT and ZMUN.
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Drawdown Indicators
| BSMT | ZMUN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.20% | -0.13% | -16.07% |
Max Drawdown (1Y)Largest decline over 1 year | -1.60% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -4.02% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -15.88% | — | — |
Current DrawdownCurrent decline from peak | -2.34% | -0.04% | -2.30% |
Average DrawdownAverage peak-to-trough decline | -5.56% | -0.02% | -5.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | — | — |
Volatility
BSMT vs. ZMUN - Volatility Comparison
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Volatility by Period
| BSMT | ZMUN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.77% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.38% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.83% | 0.54% | +1.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.24% | 0.54% | +3.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.35% | 0.54% | +5.81% |
BSMT vs. ZMUN - Expense Ratio Comparison
BSMT has a 0.18% expense ratio, which is lower than ZMUN's 0.30% expense ratio.
Dividends
BSMT vs. ZMUN - Dividend Comparison
BSMT's dividend yield for the trailing twelve months is around 2.73%, less than ZMUN's 2.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BSMT Invesco BulletShares 2029 Municipal Bond ETF | 2.73% | 2.78% | 2.80% | 2.62% | 1.65% | 1.31% | 1.82% | 0.48% |
ZMUN F/m Ultrashort Tax-Free Municipal ETF | 2.92% | 0.70% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BSMT and ZMUN 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.
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 0.30% for ZMUN.
ZMUN has the higher dividend yield at 2.92%, compared with 2.73% for BSMT.
BSMT tracks Invesco BulletShares Municipal Bond 2029 Index, while ZMUN tracks Bloomberg Municipal Bond Currently Callable Index. They also come from different issuers: Invesco and F/m. Their fees differ too: 0.18% for BSMT and 0.30% for ZMUN.
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