BSMZ vs. SMMU
BSMZ (Invesco BulletShares 2035 Municipal Bond ETF) and SMMU (PIMCO Short Term Municipal Bond Active ETF) are both Municipal Bonds funds. BSMZ is passively managed, while SMMU is actively managed. A 0.58 correlation means they provide meaningful diversification when combined. BSMZ charges 0.18%/yr vs 0.35%/yr for SMMU.
Performance
BSMZ vs. SMMU - 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 SMMU's 1.12% return.
BSMZ
- 1D
- 0.02%
- 1M
- 0.83%
- YTD
- 1.80%
- 6M
- 2.27%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMMU
- 1D
- 0.02%
- 1M
- 0.33%
- YTD
- 1.12%
- 6M
- 1.32%
- 1Y
- 3.86%
- 3Y*
- 3.66%
- 5Y*
- 1.90%
- 10Y*
- 1.86%
BSMZ vs. SMMU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BSMZ Invesco BulletShares 2035 Municipal Bond ETF | 1.80% | 1.82% |
SMMU PIMCO Short Term Municipal Bond Active ETF | 1.12% | 0.40% |
Correlation
The correlation between BSMZ and SMMU is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 18, 2025 | 0.58 |
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Return for Risk
BSMZ vs. SMMU — Risk / Return Rank
BSMZ
SMMU
BSMZ vs. SMMU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2035 Municipal Bond ETF (BSMZ) and PIMCO Short Term Municipal Bond Active ETF (SMMU). 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 | SMMU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 3.79 | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.14 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.68 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.39 | 0.60 | +0.78 |
Drawdowns
BSMZ vs. SMMU - Drawdown Comparison
The maximum BSMZ drawdown since its inception was -3.26%, smaller than the maximum SMMU drawdown of -5.09%. Use the drawdown chart below to compare losses from any high point for BSMZ and SMMU.
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Drawdown Indicators
| BSMZ | SMMU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.26% | -5.09% | +1.83% |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.77% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -1.95% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -4.76% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.09% | — |
Current DrawdownCurrent decline from peak | -0.37% | -0.01% | -0.36% |
Average DrawdownAverage peak-to-trough decline | -0.70% | -0.55% | -0.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.22% | — |
Volatility
BSMZ vs. SMMU - Volatility Comparison
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Volatility by Period
| BSMZ | SMMU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.31% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 0.79% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.75% | 1.02% | +2.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.75% | 1.67% | +2.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.75% | 2.73% | +1.02% |
BSMZ vs. SMMU - Expense Ratio Comparison
BSMZ has a 0.18% expense ratio, which is lower than SMMU's 0.35% expense ratio.
Dividends
BSMZ vs. SMMU - Dividend Comparison
BSMZ's dividend yield for the trailing twelve months is around 2.02%, less than SMMU's 2.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSMZ Invesco BulletShares 2035 Municipal Bond ETF | 2.02% | 0.68% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SMMU PIMCO Short Term Municipal Bond Active ETF | 2.84% | 2.80% | 3.03% | 2.79% | 1.37% | 0.60% | 1.19% | 1.82% | 1.57% | 1.41% | 1.03% | 0.89% |
Frequently Asked Questions
BSMZ and SMMU have a correlation of 0.58, 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 0.35% for SMMU.
SMMU has the higher dividend yield at 2.84%, compared with 2.02% for BSMZ.
They also come from different issuers: Invesco and PIMCO. Their fees differ too: 0.18% for BSMZ and 0.35% for SMMU.
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