BSMU vs. CA
BSMU (Invesco BulletShares 2030 Municipal Bond ETF) and CA (Xtrackers California Municipal Bond ETF) are both Municipal Bonds funds - BSMU tracks the Invesco Bulletshares Municipal Bond 2030 Index while CA tracks the ICE AMT-Free Broad Liquid California Municipal Index - Benchmark TR Gross. Both are passively managed. Over the past year, BSMU returned 5.50% vs 6.67% for CA. A 0.62 correlation means they provide meaningful diversification when combined. BSMU charges 0.18%/yr vs 0.07%/yr for CA.
Performance
BSMU vs. CA - Performance Comparison
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Returns By Period
In the year-to-date period, BSMU achieves a 0.56% return, which is significantly lower than CA's 1.20% return.
BSMU
- 1D
- -0.15%
- 1M
- 0.37%
- YTD
- 0.56%
- 6M
- 0.90%
- 1Y
- 5.50%
- 3Y*
- 3.02%
- 5Y*
- -0.68%
- 10Y*
- —
CA
- 1D
- 0.00%
- 1M
- 0.38%
- YTD
- 1.20%
- 6M
- 1.44%
- 1Y
- 6.67%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BSMU vs. CA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BSMU Invesco BulletShares 2030 Municipal Bond ETF | 0.56% | 4.35% | -0.29% | 0.59% |
CA Xtrackers California Municipal Bond ETF | 1.20% | 3.05% | 1.51% | 0.79% |
Correlation
The correlation between BSMU and CA is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Dec 15, 2023 | 0.62 |
The correlation between BSMU and CA shifts across timeframes, from 0.51 (1 year) to 0.62 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BSMU vs. CA — Risk / Return Rank
BSMU
CA
BSMU vs. CA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2030 Municipal Bond ETF (BSMU) and Xtrackers California Municipal Bond ETF (CA). 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.
| BSMU | CA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 1.58 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.68 | 2.61 | +0.07 |
| Martin ratioReturn relative to average drawdown | 8.28 | 9.84 | -1.56 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BSMU | CA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.59 | 2.54 | +0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.14 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.06 | 0.67 | -0.61 |
Drawdowns
BSMU vs. CA - Drawdown Comparison
The maximum BSMU drawdown since its inception was -19.48%, which is greater than CA's maximum drawdown of -5.24%. Use the drawdown chart below to compare losses from any high point for BSMU and CA.
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Drawdown Indicators
| BSMU | CA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.48% | -5.24% | -14.24% |
Max Drawdown (1Y)Largest decline over 1 year | -2.06% | -2.57% | +0.51% |
Max Drawdown (3Y)Largest decline over 3 years | -5.92% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -19.48% | — | — |
Current DrawdownCurrent decline from peak | -4.83% | -0.75% | -4.08% |
Average DrawdownAverage peak-to-trough decline | -8.20% | -1.27% | -6.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | 0.68% | -0.01% |
Volatility
BSMU vs. CA - Volatility Comparison
Invesco BulletShares 2030 Municipal Bond ETF (BSMU) has a higher volatility of 0.79% compared to Xtrackers California Municipal Bond ETF (CA) at 0.31%. This indicates that BSMU's price experiences larger fluctuations and is considered to be riskier than CA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSMU | CA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.79% | 0.31% | +0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 1.48% | 1.83% | -0.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.13% | 2.64% | -0.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.83% | 3.99% | +0.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.85% | 3.99% | +0.86% |
BSMU vs. CA - Expense Ratio Comparison
BSMU has a 0.18% expense ratio, which is higher than CA's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
BSMU vs. CA - Dividend Comparison
BSMU's dividend yield for the trailing twelve months is around 2.80%, less than CA's 2.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
BSMU Invesco BulletShares 2030 Municipal Bond ETF | 2.80% | 2.82% | 2.92% | 2.66% | 2.16% | 1.60% | 0.28% |
CA Xtrackers California Municipal Bond ETF | 2.96% | 3.14% | 3.03% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BSMU and CA have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BSMU has higher volatility (0.79%) compared to CA (0.31%). In terms of maximum drawdown, BSMU dropped -19.48% vs CA's -5.24%.
On 1-year performance, CA leads with 6.67% vs 5.50% for BSMU. On fees, CA is cheaper at 0.07% per year. On volatility, CA has been the lower-risk option at 0.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, CA has performed better with a 6.67% return vs 5.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CA is cheaper with a 0.07% expense ratio, compared with 0.18% for BSMU.
CA has the higher dividend yield at 2.96%, compared with 2.80% for BSMU.
BSMU tracks Invesco Bulletshares Municipal Bond 2030 Index, while CA tracks ICE AMT-Free Broad Liquid California Municipal Index - Benchmark TR Gross. They also come from different issuers: Invesco and Xtrackers. Their fees differ too: 0.18% for BSMU and 0.07% for CA.
BSMU currently has the higher Sharpe Ratio (2.59 vs 2.54), 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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