BSMZ vs. BSMR
BSMZ (Invesco BulletShares 2035 Municipal Bond ETF) and BSMR (Invesco BulletShares 2027 Municipal Bond ETF) are both Municipal Bonds funds from Invesco - BSMZ tracks the Invesco BulletShares USD Municipal Bond 2035 Index while BSMR tracks the Invesco BulletShares Municipal Bond 2027 Index. Both are passively managed. At a 0.35 correlation, their price movements are largely independent. Both charge a 0.18% expense ratio.
Performance
BSMZ vs. BSMR - Performance Comparison
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Returns By Period
In the year-to-date period, BSMZ achieves a 1.80% return, which is significantly higher than BSMR's 0.93% return.
BSMZ
- 1D
- 0.02%
- 1M
- 0.83%
- YTD
- 1.80%
- 6M
- 2.27%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BSMR
- 1D
- -0.11%
- 1M
- 0.23%
- YTD
- 0.93%
- 6M
- 1.19%
- 1Y
- 3.90%
- 3Y*
- 2.93%
- 5Y*
- 0.45%
- 10Y*
- —
BSMZ vs. BSMR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BSMZ Invesco BulletShares 2035 Municipal Bond ETF | 1.80% | 1.82% |
BSMR Invesco BulletShares 2027 Municipal Bond ETF | 0.93% | 0.44% |
Correlation
The correlation between BSMZ and BSMR is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 18, 2025 | 0.35 |
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Return for Risk
BSMZ vs. BSMR — Risk / Return Rank
BSMZ
BSMR
BSMZ vs. BSMR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2035 Municipal Bond ETF (BSMZ) and Invesco BulletShares 2027 Municipal Bond ETF (BSMR). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| BSMZ | BSMR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 3.12 | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.15 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.39 | 0.21 | +1.17 |
Drawdowns
BSMZ vs. BSMR - Drawdown Comparison
The maximum BSMZ drawdown since its inception was -3.26%, smaller than the maximum BSMR drawdown of -13.49%. Use the drawdown chart below to compare losses from any high point for BSMZ and BSMR.
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Drawdown Indicators
| BSMZ | BSMR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.26% | -13.49% | +10.23% |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.57% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -3.50% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -12.02% | — |
Current DrawdownCurrent decline from peak | -0.37% | -0.11% | -0.26% |
Average DrawdownAverage peak-to-trough decline | -0.70% | -3.49% | +2.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.18% | — |
Volatility
BSMZ vs. BSMR - Volatility Comparison
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Volatility by Period
| BSMZ | BSMR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.37% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 0.93% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.75% | 1.26% | +2.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.75% | 3.03% | +0.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.75% | 5.72% | -1.97% |
BSMZ vs. BSMR - Expense Ratio Comparison
Both BSMZ and BSMR have an expense ratio of 0.18%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
BSMZ vs. BSMR - Dividend Comparison
BSMZ's dividend yield for the trailing twelve months is around 2.02%, less than BSMR's 2.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BSMR Invesco BulletShares 2027 Municipal Bond ETF | 2.72% | 2.77% | 2.78% | 2.72% | 1.40% | 1.00% | 1.49% | 0.45% |
BSMZ Invesco BulletShares 2035 Municipal Bond ETF | 2.02% | 0.68% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BSMZ and BSMR have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.18% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
BSMZ and BSMR have the same expense ratio: 0.18% per year.
BSMR has the higher dividend yield at 2.72%, compared with 2.02% for BSMZ.
BSMZ tracks Invesco BulletShares USD Municipal Bond 2035 Index, while BSMR tracks Invesco BulletShares Municipal Bond 2027 Index.
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