BSMV vs. COMB
BSMV (Invesco BulletShares 2031 Municipal Bond ETF) and COMB (GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF) are both exchange-traded funds - BSMV is a Municipal Bonds fund tracking the Invesco BulletShares Municipal Bond 2031 Index, while COMB is a Commodities fund actively managed by GraniteShares. BSMV is passively managed, while COMB is actively managed. Over the past 3 years, BSMV returned 3.08%/yr vs 16.31%/yr for COMB. At a correlation of -0.02, they often move in opposite directions. BSMV charges 0.18%/yr vs 0.25%/yr for COMB.
Performance
BSMV vs. COMB - Performance Comparison
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Returns By Period
In the year-to-date period, BSMV achieves a 0.68% return, which is significantly lower than COMB's 26.81% return.
BSMV
- 1D
- 0.04%
- 1M
- 0.40%
- YTD
- 0.68%
- 6M
- 0.96%
- 1Y
- 5.82%
- 3Y*
- 3.08%
- 5Y*
- —
- 10Y*
- —
COMB
- 1D
- 0.03%
- 1M
- -2.98%
- YTD
- 26.81%
- 6M
- 25.89%
- 1Y
- 38.86%
- 3Y*
- 16.31%
- 5Y*
- 11.27%
- 10Y*
- —
BSMV vs. COMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BSMV Invesco BulletShares 2031 Municipal Bond ETF | 0.68% | 4.03% | -0.28% | 6.99% | -15.32% | 0.66% |
COMB GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF | 26.81% | 15.12% | 5.24% | -7.75% | 14.56% | 3.66% |
Correlation
The correlation between BSMV and COMB is -0.27, 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 | -0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2021 | -0.02 |
Over the past year, the inverse relationship between BSMV and COMB has strengthened: their correlation has moved from -0.02 to -0.27, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
BSMV vs. COMB — Risk / Return Rank
BSMV
COMB
BSMV vs. COMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2031 Municipal Bond ETF (BSMV) and GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF (COMB). 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.
| BSMV | COMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.41 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.09 | 5.08 | -2.99 |
| Martin ratioReturn relative to average drawdown | 6.48 | 13.24 | -6.76 |
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
| BSMV | COMB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.32 | 2.29 | +0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.68 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.19 | 0.52 | -0.71 |
Drawdowns
BSMV vs. COMB - Drawdown Comparison
The maximum BSMV drawdown since its inception was -20.68%, smaller than the maximum COMB drawdown of -33.50%. Use the drawdown chart below to compare losses from any high point for BSMV and COMB.
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Drawdown Indicators
| BSMV | COMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.68% | -33.50% | +12.82% |
Max Drawdown (1Y)Largest decline over 1 year | -2.79% | -7.69% | +4.90% |
Max Drawdown (3Y)Largest decline over 3 years | -6.63% | -11.35% | +4.72% |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.63% | — |
Current DrawdownCurrent decline from peak | -5.43% | -4.35% | -1.08% |
Average DrawdownAverage peak-to-trough decline | -10.44% | -12.06% | +1.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | 2.94% | -2.04% |
Volatility
BSMV vs. COMB - Volatility Comparison
The current volatility for Invesco BulletShares 2031 Municipal Bond ETF (BSMV) is 0.82%, while GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF (COMB) has a volatility of 5.14%. This indicates that BSMV experiences smaller price fluctuations and is considered to be less risky than COMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSMV | COMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.82% | 5.14% | -4.32% |
Volatility (6M)Calculated over the trailing 6-month period | 1.79% | 14.99% | -13.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.51% | 17.02% | -14.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.69% | 16.70% | -11.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.69% | 15.13% | -9.44% |
BSMV vs. COMB - Expense Ratio Comparison
BSMV has a 0.18% expense ratio, which is lower than COMB's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
BSMV vs. COMB - Dividend Comparison
BSMV's dividend yield for the trailing twelve months is around 2.90%, less than COMB's 7.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BSMV Invesco BulletShares 2031 Municipal Bond ETF | 2.90% | 2.93% | 3.10% | 2.59% | 2.21% | 0.24% | 0.00% | 0.00% | 0.00% | 0.00% |
COMB GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF | 7.14% | 9.05% | 2.48% | 6.57% | 30.85% | 15.83% | 0.07% | 1.48% | 0.97% | 0.20% |
Frequently Asked Questions
BSMV and COMB have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
COMB has higher volatility (5.14%) compared to BSMV (0.82%). In terms of maximum drawdown, BSMV dropped -20.68% vs COMB's -33.50%.
On 3-year performance, COMB leads with 16.31% vs 3.08% for BSMV. On fees, BSMV is cheaper at 0.18% per year. On volatility, BSMV has been the lower-risk option at 0.82%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, COMB has performed better with a 16.31% return vs 3.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BSMV is cheaper with a 0.18% expense ratio, compared with 0.25% for COMB.
COMB has the higher dividend yield at 7.14%, compared with 2.90% for BSMV.
BSMV is categorized as Municipal Bonds, while COMB is Commodities. They also come from different issuers: Invesco and GraniteShares. Their fees differ too: 0.18% for BSMV and 0.25% for COMB.
BSMV currently has the higher Sharpe Ratio (2.32 vs 2.29), 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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