BSMY vs. XLG

Last updated Jun 4, 2026

BSMY (Invesco BulletShares 2034 Municipal Bond ETF) and XLG (Invesco S&P 500 Top 50 ETF) are both exchange-traded funds - BSMY is a Municipal Bonds fund tracking the Invesco BulletShares USD Municipal Bond 2034 Index, while XLG is a S&P 500 fund tracking the S&P 500 Top 50 Index. Both are passively managed. Over the past year, BSMY returned 8.12% vs 28.54% for XLG. At a 0.15 correlation, their price movements are largely independent. BSMY charges 0.18%/yr vs 0.20%/yr for XLG.

Performance

BSMY vs. XLG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco BulletShares 2034 Municipal Bond ETF (BSMY) and Invesco S&P 500 Top 50 ETF (XLG). 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 XLG's 7.57% return.

BSMY

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

XLG

• 1D: -1.15%
• 1M: 4.22%
• YTD: 7.57%
• 6M: 7.32%
• 1Y: 28.54%
• 3Y*: 24.46%
• 5Y*: 16.24%
• 10Y*: 17.27%

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

BSMY vs. XLG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BSMY Invesco BulletShares 2034 Municipal Bond ETF	1.43%	3.82%	-1.86%
XLG Invesco S&P 500 Top 50 ETF	7.57%	19.51%	9.29%

Correlation

The correlation between BSMY and XLG is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (All Time) Calculated using the full available price history since Sep 12, 2024	0.15

BSMY vs. XLG - Sectors Allocation Comparison

Sectors	BSMY	XLG
Financial Services	2.2%	9.6%
Consumer Cyclical	0.2%	11.3%
Industrials	0.0%	1.9%
Basic Materials	-	0.6%
Communication Services	-	17.1%
Consumer Defensive	-	5.8%
Energy	-	2.7%
Healthcare	-	7.0%
Real Estate	-	-
Technology	-	43.9%
Utilities	-	-

Return for Risk

BSMY vs. XLG — 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

XLG

XLG Risk / Return Rank: 56
XLG Sharpe Ratio Rank: 63
XLG Sortino Ratio Rank: 61
XLG Omega Ratio Rank: 61
XLG Calmar Ratio Rank: 46
XLG Martin Ratio Rank: 51

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. XLG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2034 Municipal Bond ETF (BSMY) and Invesco S&P 500 Top 50 ETF (XLG). 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	XLG	Difference
Sharpe ratio: Return per unit of total volatility	2.36	2.15	+0.20
Sortino ratio: Return per unit of downside risk	3.56	2.92	+0.63
Omega ratio: Gain probability vs. loss probability	1.49	1.38	+0.11
Calmar ratio: Return relative to maximum drawdown	2.46	2.31	+0.15
Martin ratio: Return relative to average drawdown	8.53	8.66	-0.14
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. XLG - Sharpe Ratio Comparison

The current BSMY Sharpe Ratio is 2.36, which is comparable to the XLG Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of BSMY and XLG, 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	XLG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.36	2.15	+0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.87	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.92	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.62	-0.25

Drawdowns

BSMY vs. XLG - Drawdown Comparison

The maximum BSMY drawdown since its inception was -6.81%, smaller than the maximum XLG drawdown of -52.39%. Use the drawdown chart below to compare losses from any high point for BSMY and XLG.

Drawdown Indicators

	BSMY	XLG	Difference
Max Drawdown Largest peak-to-trough decline	-6.81%	-52.39%	+45.58%
Max Drawdown (1Y) Largest decline over 1 year	-3.31%	-12.41%	+9.10%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.70%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-28.02%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-30.46%	—
Current Drawdown Current decline from peak	-0.79%	-1.44%	+0.65%
Average Drawdown Average peak-to-trough decline	-1.98%	-7.64%	+5.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	3.30%	-2.35%

Volatility

BSMY vs. XLG - Volatility Comparison

The current volatility for Invesco BulletShares 2034 Municipal Bond ETF (BSMY) is 1.28%, while Invesco S&P 500 Top 50 ETF (XLG) has a volatility of 3.19%. This indicates that BSMY experiences smaller price fluctuations and is considered to be less risky than XLG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BSMY	XLG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.28%	3.19%	-1.91%
Volatility (6M) Calculated over the trailing 6-month period	2.55%	9.80%	-7.25%
Volatility (1Y) Calculated over the trailing 1-year period	3.46%	13.33%	-9.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.23%	18.68%	-13.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.23%	18.84%	-13.61%

BSMY vs. XLG - Expense Ratio Comparison

BSMY has a 0.18% expense ratio, which is lower than XLG's 0.20% 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

BSMY vs. XLG - Dividend Comparison

BSMY's dividend yield for the trailing twelve months is around 3.53%, more than XLG's 0.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%
XLG Invesco S&P 500 Top 50 ETF	0.60%	0.64%	0.72%	0.97%	1.34%	0.94%	1.25%	1.58%	2.00%	1.85%	2.00%	2.09%

Frequently Asked Questions

Can I hold both BSMY and XLG in my portfolio?

BSMY and XLG have a correlation of 0.19, 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 XLG?

XLG has higher volatility (3.19%) compared to BSMY (1.28%). In terms of maximum drawdown, BSMY dropped -6.81% vs XLG's -52.39%.

Which ETF is better, BSMY or XLG?

On 1-year performance, XLG leads with 28.54% vs 8.12% for BSMY. On fees, BSMY is cheaper at 0.18% per year. On volatility, BSMY has been the lower-risk option at 1.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BSMY or XLG?

Over the 1-year period, XLG has performed better with a 28.54% return vs 8.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BSMY or XLG?

BSMY is cheaper with a 0.18% expense ratio, compared with 0.20% for XLG.

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

BSMY has the higher dividend yield at 3.53%, compared with 0.60% for XLG.

What is the main difference between BSMY and XLG?

BSMY is categorized as Municipal Bonds, while XLG is S&P 500. BSMY tracks Invesco BulletShares USD Municipal Bond 2034 Index, while XLG tracks S&P 500 Top 50 Index. Their fees differ too: 0.18% for BSMY and 0.20% for XLG.

Which has better risk-adjusted returns?

BSMY currently has the higher Sharpe Ratio (2.36 vs 2.15), 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.