BSMY vs. VRIG

Last updated Jun 4, 2026

BSMY (Invesco BulletShares 2034 Municipal Bond ETF) and VRIG (Invesco Variable Rate Investment Grade ETF) are both exchange-traded funds - BSMY is a Municipal Bonds fund tracking the Invesco BulletShares USD Municipal Bond 2034 Index, while VRIG is a Ultrashort Bond fund actively managed by Invesco. BSMY is passively managed, while VRIG is actively managed. Over the past year, BSMY returned 8.12% vs 4.99% for VRIG. At a 0.03 correlation, their price movements are largely independent. BSMY charges 0.18%/yr vs 0.30%/yr for VRIG.

Performance

BSMY vs. VRIG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco BulletShares 2034 Municipal Bond ETF (BSMY) and Invesco Variable Rate Investment Grade ETF (VRIG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BSMY achieves a 1.43% return, which is significantly lower than VRIG's 1.81% return.

BSMY

• 1D: 0.03%
• 1M: 0.52%
• YTD: 1.43%
• 6M: 1.83%
• 1Y: 8.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VRIG

• 1D: 0.02%
• 1M: 0.39%
• YTD: 1.81%
• 6M: 2.20%
• 1Y: 4.99%
• 3Y*: 5.98%
• 5Y*: 4.42%
• 10Y*: —

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

BSMY vs. VRIG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BSMY Invesco BulletShares 2034 Municipal Bond ETF	1.43%	3.82%	-1.86%
VRIG Invesco Variable Rate Investment Grade ETF	1.81%	5.05%	1.87%

Correlation

The correlation between BSMY and VRIG is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.08
Correlation (All Time) Calculated using the full available price history since Sep 12, 2024	0.03

The correlation between BSMY and VRIG shifts across timeframes, from -0.08 (1 year) to 0.03 (all time), reflecting how their relationship changes across market environments.

BSMY vs. VRIG - Sectors Allocation Comparison

Sectors	BSMY	VRIG
Financial Services	2.2%	23.3%
Consumer Cyclical	0.2%	3.0%
Industrials	0.0%	0.0%
Basic Materials	-	0.8%
Communication Services	-	-
Consumer Defensive	-	0.7%
Energy	-	-
Healthcare	-	-
Real Estate	-	0.3%
Technology	-	0.4%
Utilities	-	0.1%

Return for Risk

BSMY vs. VRIG — Risk / Return Rank

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

BSMY

BSMY Risk / Return Rank: 68
BSMY Sharpe Ratio Rank: 73
BSMY Sortino Ratio Rank: 80
BSMY Omega Ratio Rank: 83
BSMY Calmar Ratio Rank: 51
BSMY Martin Ratio Rank: 52

VRIG

VRIG Risk / Return Rank: 99
VRIG Sharpe Ratio Rank: 99
VRIG Sortino Ratio Rank: 100
VRIG Omega Ratio Rank: 99
VRIG Calmar Ratio Rank: 100
VRIG Martin Ratio Rank: 100

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.

BSMY vs. VRIG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2034 Municipal Bond ETF (BSMY) and Invesco Variable Rate Investment Grade ETF (VRIG). 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.

	BSMY	VRIG	Difference
Sharpe ratio: Return per unit of total volatility	2.36	10.15	-7.79
Sortino ratio: Return per unit of downside risk	3.56	24.59	-21.04
Omega ratio: Gain probability vs. loss probability	1.49	5.38	-3.89
Calmar ratio: Return relative to maximum drawdown	2.46	62.75	-60.29
Martin ratio: Return relative to average drawdown	8.53	320.64	-312.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BSMY vs. VRIG - Sharpe Ratio Comparison

The current BSMY Sharpe Ratio is 2.36, which is lower than the VRIG Sharpe Ratio of 10.15. The chart below compares the historical Sharpe Ratios of BSMY and VRIG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BSMY	VRIG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.36	10.15	-7.79
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	3.45	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.91	-0.54

Drawdowns

BSMY vs. VRIG - Drawdown Comparison

The maximum BSMY drawdown since its inception was -6.81%, smaller than the maximum VRIG drawdown of -13.04%. Use the drawdown chart below to compare losses from any high point for BSMY and VRIG.

Drawdown Indicators

	BSMY	VRIG	Difference
Max Drawdown Largest peak-to-trough decline	-6.81%	-13.04%	+6.23%
Max Drawdown (1Y) Largest decline over 1 year	-3.31%	-0.08%	-3.23%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.78%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-2.28%	—
Current Drawdown Current decline from peak	-0.79%	-0.00%	-0.79%
Average Drawdown Average peak-to-trough decline	-1.98%	-0.27%	-1.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	0.02%	+0.93%

Volatility

BSMY vs. VRIG - Volatility Comparison

Invesco BulletShares 2034 Municipal Bond ETF (BSMY) has a higher volatility of 1.28% compared to Invesco Variable Rate Investment Grade ETF (VRIG) at 0.11%. This indicates that BSMY's price experiences larger fluctuations and is considered to be riskier than VRIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BSMY	VRIG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.28%	0.11%	+1.17%
Volatility (6M) Calculated over the trailing 6-month period	2.55%	0.36%	+2.19%
Volatility (1Y) Calculated over the trailing 1-year period	3.46%	0.49%	+2.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.23%	1.29%	+3.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.23%	3.80%	+1.43%

BSMY vs. VRIG - Expense Ratio Comparison

BSMY has a 0.18% expense ratio, which is lower than VRIG's 0.30% expense ratio.

Dividends

BSMY vs. VRIG - Dividend Comparison

BSMY's dividend yield for the trailing twelve months is around 3.53%, less than VRIG's 4.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BSMY Invesco BulletShares 2034 Municipal Bond ETF	3.53%	3.31%	0.79%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VRIG Invesco Variable Rate Investment Grade ETF	4.79%	4.99%	6.09%	5.97%	2.39%	0.78%	1.57%	3.12%	2.89%	2.31%	0.60%

Frequently Asked Questions

Can I hold both BSMY and VRIG in my portfolio?

BSMY and VRIG have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BSMY or VRIG?

BSMY has higher volatility (1.28%) compared to VRIG (0.11%). In terms of maximum drawdown, BSMY dropped -6.81% vs VRIG's -13.04%.

Which ETF is better, BSMY or VRIG?

On 1-year performance, BSMY leads with 8.12% vs 4.99% for VRIG. On fees, BSMY is cheaper at 0.18% per year. On volatility, VRIG has been the lower-risk option at 0.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BSMY or VRIG?

Over the 1-year period, BSMY has performed better with a 8.12% return vs 4.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BSMY or VRIG?

BSMY is cheaper with a 0.18% expense ratio, compared with 0.30% for VRIG.

Which ETF pays a higher dividend yield, BSMY or VRIG?

VRIG has the higher dividend yield at 4.79%, compared with 3.53% for BSMY.

What is the main difference between BSMY and VRIG?

BSMY is categorized as Municipal Bonds, while VRIG is Ultrashort Bond. Their fees differ too: 0.18% for BSMY and 0.30% for VRIG.

Which has better risk-adjusted returns?

VRIG currently has the higher Sharpe Ratio (10.15 vs 2.36), 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.