BSMU vs. PAHC
BSMU (Invesco BulletShares 2030 Municipal Bond ETF) is Municipal Bonds fund tracking the Invesco Bulletshares Municipal Bond 2030 Index, while PAHC (Phibro Animal Health Corporation) is a stock. Over the past 5 years, BSMU returned -0.58%/yr vs 4.58%/yr for PAHC. At a 0.08 correlation, their price movements are largely independent.
Performance
BSMU vs. PAHC - Performance Comparison
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Returns By Period
In the year-to-date period, BSMU achieves a 0.84% return, which is significantly higher than PAHC's -15.51% return.
BSMU
- 1D
- 0.14%
- 1M
- 1.02%
- YTD
- 0.84%
- 6M
- 0.89%
- 1Y
- 4.81%
- 3Y*
- 2.74%
- 5Y*
- -0.58%
- 10Y*
- —
PAHC
- 1D
- 2.72%
- 1M
- -5.31%
- YTD
- -15.51%
- 6M
- -16.36%
- 1Y
- 28.20%
- 3Y*
- 35.64%
- 5Y*
- 4.58%
- 10Y*
- 7.38%
BSMU vs. PAHC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BSMU Invesco BulletShares 2030 Municipal Bond ETF | 0.84% | 4.35% | -0.29% | 6.31% | -13.76% | 1.88% | 4.00% |
PAHC Phibro Animal Health Corporation | -15.51% | 80.76% | 86.30% | -10.42% | -32.33% | 7.28% | 5.88% |
Correlation
The correlation between BSMU and PAHC is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 2020 | 0.08 |
The correlation between BSMU and PAHC shifts across timeframes, from 0.08 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BSMU vs. PAHC — Risk / Return Rank
BSMU
PAHC
BSMU vs. PAHC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2030 Municipal Bond ETF (BSMU) and Phibro Animal Health Corporation (PAHC). 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.
| BSMU | PAHC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.77 | ||
| Sortino ratioReturn per unit of downside risk | +2.36 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.15 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 2.34 | 0.54 | +1.80 |
| Martin ratioReturn relative to average drawdown | 6.91 | 1.59 | +5.32 |
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Drawdowns
BSMU vs. PAHC - Drawdown Comparison
The maximum BSMU drawdown since its inception was -19.48%, smaller than the maximum PAHC drawdown of -79.62%. Use the drawdown chart below to compare losses from any high point for BSMU and PAHC.
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Drawdown Indicators
| BSMU | PAHC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.48% | -79.62% | +60.14% |
Max Drawdown (1Y)Largest decline over 1 year | -2.06% | -52.13% | +50.07% |
Max Drawdown (3Y)Largest decline over 3 years | -5.92% | -52.13% | +46.21% |
Max Drawdown (5Y)Largest decline over 5 years | -19.48% | -65.63% | +46.15% |
Max Drawdown (10Y)Largest decline over 10 years | — | -79.62% | — |
Current DrawdownCurrent decline from peak | -4.56% | -47.14% | +42.58% |
Average DrawdownAverage peak-to-trough decline | -8.16% | -39.01% | +30.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.70% | 17.81% | -17.11% |
Volatility
BSMU vs. PAHC - Volatility Comparison
The current volatility for Invesco BulletShares 2030 Municipal Bond ETF (BSMU) is 0.70%, while Phibro Animal Health Corporation (PAHC) has a volatility of 17.22%. This indicates that BSMU experiences smaller price fluctuations and is considered to be less risky than PAHC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSMU | PAHC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.70% | 17.22% | -16.52% |
Volatility (6M)Calculated over the trailing 6-month period | 1.56% | 49.16% | -47.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.15% | 58.87% | -56.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.82% | 47.43% | -42.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.82% | 44.61% | -39.79% |
Dividends
BSMU vs. PAHC - Dividend Comparison
BSMU's dividend yield for the trailing twelve months is around 2.79%, more than PAHC's 1.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSMU Invesco BulletShares 2030 Municipal Bond ETF | 2.79% | 2.82% | 2.92% | 2.66% | 2.16% | 1.60% | 0.28% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PAHC Phibro Animal Health Corporation | 1.53% | 1.28% | 2.29% | 4.15% | 3.58% | 2.35% | 2.47% | 1.93% | 1.31% | 1.19% | 1.37% | 1.33% |
Frequently Asked Questions
BSMU and PAHC have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PAHC has higher volatility (17.22%) compared to BSMU (0.70%). In terms of maximum drawdown, BSMU dropped -19.48% vs PAHC's -79.62%.
BSMU currently has the higher Sharpe Ratio (2.26 vs 0.48), 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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