BSMZ vs. THYM

Last updated Jun 25, 2026

BSMZ (Invesco BulletShares 2035 Municipal Bond ETF) and THYM (T. Rowe Price High Income Municipal ETF) are both exchange-traded funds - BSMZ is a Municipal Bonds fund tracking the Invesco BulletShares USD Municipal Bond 2035 Index, while THYM is a High Yield Muni fund actively managed by T. Rowe Price. BSMZ is passively managed, while THYM is actively managed. A 0.76 correlation means they provide meaningful diversification when combined. BSMZ charges 0.18%/yr vs 0.32%/yr for THYM.

Performance

BSMZ vs. THYM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco BulletShares 2035 Municipal Bond ETF (BSMZ) and T. Rowe Price High Income Municipal ETF (THYM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BSMZ achieves a 2.20% return, which is significantly lower than THYM's 4.16% return.

BSMZ

• 1D: 0.21%
• 1M: 2.13%
• YTD: 2.20%
• 6M: 2.20%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

THYM

• 1D: 0.53%
• 1M: 2.22%
• YTD: 4.16%
• 6M: 4.33%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BSMZ vs. THYM - Yearly Performance Comparison

	2026 (YTD)	2025
BSMZ Invesco BulletShares 2035 Municipal Bond ETF	2.20%	0.29%
THYM T. Rowe Price High Income Municipal ETF	4.16%	0.25%

Correlation

The correlation between BSMZ and THYM is 0.76, 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 Nov 20, 2025	0.76

Return for Risk

BSMZ vs. THYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2035 Municipal Bond ETF (BSMZ) and T. Rowe Price High Income Municipal ETF (THYM). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

BSMZ vs. THYM - Drawdown Comparison

The maximum BSMZ drawdown since its inception was -3.26%, which is greater than THYM's maximum drawdown of -2.93%. Use the drawdown chart below to compare losses from any high point for BSMZ and THYM.

Drawdown Indicators

	BSMZ	THYM	Difference
Max Drawdown Largest peak-to-trough decline	-3.26%	-2.93%	-0.33%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.69%	-0.46%	-0.23%

Volatility

Volatility by Period

	BSMZ	THYM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	3.77%	4.35%	-0.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.77%	4.35%	-0.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.77%	4.35%	-0.58%

BSMZ vs. THYM - Expense Ratio Comparison

BSMZ has a 0.18% expense ratio, which is lower than THYM's 0.32% expense ratio.

Dividends

BSMZ vs. THYM - Dividend Comparison

BSMZ's dividend yield for the trailing twelve months is around 2.35%, more than THYM's 2.17% yield.

Position	TTM	2025
BSMZ Invesco BulletShares 2035 Municipal Bond ETF	2.35%	0.68%
THYM T. Rowe Price High Income Municipal ETF	2.17%	0.37%

Frequently Asked Questions

Can I hold both BSMZ and THYM in my portfolio?

BSMZ and THYM have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BSMZ or THYM?

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.

Which ETF is cheaper, BSMZ or THYM?

BSMZ is cheaper with a 0.18% expense ratio, compared with 0.32% for THYM.

Which ETF pays a higher dividend yield, BSMZ or THYM?

BSMZ has the higher dividend yield at 2.35%, compared with 2.17% for THYM.

What is the main difference between BSMZ and THYM?

BSMZ is categorized as Municipal Bonds, while THYM is High Yield Muni. They also come from different issuers: Invesco and T. Rowe Price. Their fees differ too: 0.18% for BSMZ and 0.32% for THYM.