BSMZ vs. CA
BSMZ (Invesco BulletShares 2035 Municipal Bond ETF) and CA (Xtrackers California Municipal Bond ETF) are both exchange-traded funds - BSMZ is a Municipal Bonds fund tracking the Invesco BulletShares USD Municipal Bond 2035 Index, while CA is a Single State Muni fund tracking the ICE AMT-Free Broad Liquid California Municipal Index. Both are passively managed. At a 0.50 correlation, their price movements are largely independent. BSMZ charges 0.18%/yr vs 0.20%/yr for CA.
Performance
BSMZ vs. CA - Performance Comparison
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Returns By Period
In the year-to-date period, BSMZ achieves a 1.48% return, which is significantly higher than CA's 1.20% return.
BSMZ
- 1D
- -0.31%
- 1M
- -0.36%
- 6M
- 0.66%
- YTD
- 1.48%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CA
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 0.45%
- YTD
- 1.20%
- 1Y
- 6.45%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BSMZ vs. CA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BSMZ Invesco BulletShares 2035 Municipal Bond ETF | 1.48% | 1.66% |
CA Xtrackers California Municipal Bond ETF | 1.20% | 1.37% |
Correlation
The correlation between BSMZ and CA is 0.50, 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 17, 2025 | 0.50 |
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Return for Risk
BSMZ vs. CA — Risk / Return Rank
BSMZ
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CA
BSMZ vs. CA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2035 Municipal Bond ETF (BSMZ) and Xtrackers California Municipal Bond ETF (CA). 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.
| BSMZ | CA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.68 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.52 | — |
| Martin ratioReturn relative to average drawdown | — | 9.32 | — |
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Drawdowns
BSMZ vs. CA - Drawdown Comparison
The maximum BSMZ drawdown since its inception was -3.26%, smaller than the maximum CA drawdown of -5.24%. Use the drawdown chart below to compare losses from any high point for BSMZ and CA.
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Drawdown Indicators
| BSMZ | CA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.26% | -5.24% | +1.98% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.57% | — |
Current DrawdownCurrent decline from peak | -1.19% | -0.75% | -0.44% |
Average DrawdownAverage peak-to-trough decline | -0.67% | -1.24% | +0.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.70% | — |
Volatility
BSMZ vs. CA - Volatility Comparison
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Volatility by Period
| BSMZ | CA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.00% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 1.78% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.71% | 2.41% | +1.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.71% | 3.89% | -0.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.71% | 3.89% | -0.18% |
BSMZ vs. CA - Expense Ratio Comparison
BSMZ has a 0.18% expense ratio, which is lower than CA'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
BSMZ vs. CA - Dividend Comparison
BSMZ's dividend yield for the trailing twelve months is around 2.36%, less than CA's 2.69% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BSMZ Invesco BulletShares 2035 Municipal Bond ETF | 2.36% | 0.68% | 0.00% |
CA Xtrackers California Municipal Bond ETF | 2.69% | 3.14% | 3.03% |
Frequently Asked Questions
BSMZ and CA have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BSMZ is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BSMZ is cheaper with a 0.18% expense ratio, compared with 0.20% for CA.
CA has the higher dividend yield at 2.69%, compared with 2.36% for BSMZ.
BSMZ is categorized as Municipal Bonds, while CA is Single State Muni. BSMZ tracks Invesco BulletShares USD Municipal Bond 2035 Index, while CA tracks ICE AMT-Free Broad Liquid California Municipal Index. They also come from different issuers: Invesco and Xtrackers. Their fees differ too: 0.18% for BSMZ and 0.20% for CA.
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