BSSX vs. MUB
BSSX (Invesco BulletShares 2033 Municipal Bond ETF) and MUB (iShares National AMT-Free Muni Bond ETF) are both Municipal Bonds funds - BSSX tracks the Invesco BulletShares USD Municipal Bond 2033 Index while MUB tracks the S&P National AMT-Free Municipal Bond Index. Both are passively managed. Over the past year, BSSX returned 7.02% vs 6.87% for MUB. A 0.64 correlation means they provide meaningful diversification when combined. BSSX charges 0.18%/yr vs 0.07%/yr for MUB.
Performance
BSSX vs. MUB - Performance Comparison
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Returns By Period
In the year-to-date period, BSSX achieves a 1.06% return, which is significantly lower than MUB's 1.41% return.
BSSX
- 1D
- 0.15%
- 1M
- 0.66%
- YTD
- 1.06%
- 6M
- 1.73%
- 1Y
- 7.02%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MUB
- 1D
- 0.17%
- 1M
- 0.66%
- YTD
- 1.41%
- 6M
- 1.92%
- 1Y
- 6.87%
- 3Y*
- 3.41%
- 5Y*
- 0.89%
- 10Y*
- 2.01%
BSSX vs. MUB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BSSX Invesco BulletShares 2033 Municipal Bond ETF | 1.06% | 3.79% | -0.09% | 7.50% |
MUB iShares National AMT-Free Muni Bond ETF | 1.41% | 3.78% | 1.26% | 4.68% |
Correlation
The correlation between BSSX and MUB is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Sep 21, 2023 | 0.64 |
The correlation between BSSX and MUB has been stable across timeframes, ranging from 0.64 to 0.64 - a consistent structural relationship.
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Return for Risk
BSSX vs. MUB — Risk / Return Rank
BSSX
MUB
BSSX vs. MUB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2033 Municipal Bond ETF (BSSX) and iShares National AMT-Free Muni Bond ETF (MUB). 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.
| BSSX | MUB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.50 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.15 | 2.48 | -0.33 |
| Martin ratioReturn relative to average drawdown | 6.71 | 8.74 | -2.03 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BSSX | MUB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.10 | 2.37 | -0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.22 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.41 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.59 | -0.01 |
Drawdowns
BSSX vs. MUB - Drawdown Comparison
The maximum BSSX drawdown since its inception was -8.12%, smaller than the maximum MUB drawdown of -13.68%. Use the drawdown chart below to compare losses from any high point for BSSX and MUB.
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Drawdown Indicators
| BSSX | MUB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.12% | -13.68% | +5.56% |
Max Drawdown (1Y)Largest decline over 1 year | -3.28% | -2.79% | -0.49% |
Max Drawdown (3Y)Largest decline over 3 years | — | -5.34% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -11.88% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -13.68% | — |
Current DrawdownCurrent decline from peak | -0.97% | -0.53% | -0.44% |
Average DrawdownAverage peak-to-trough decline | -3.26% | -2.23% | -1.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 0.79% | +0.26% |
Volatility
BSSX vs. MUB - Volatility Comparison
Invesco BulletShares 2033 Municipal Bond ETF (BSSX) has a higher volatility of 1.17% compared to iShares National AMT-Free Muni Bond ETF (MUB) at 0.98%. This indicates that BSSX's price experiences larger fluctuations and is considered to be riskier than MUB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSSX | MUB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 0.98% | +0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 2.37% | 2.22% | +0.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.36% | 2.92% | +0.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.83% | 4.06% | +3.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.83% | 4.92% | +2.91% |
BSSX vs. MUB - Expense Ratio Comparison
BSSX has a 0.18% expense ratio, which is higher than MUB's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
BSSX vs. MUB - Dividend Comparison
BSSX's dividend yield for the trailing twelve months is around 3.30%, more than MUB's 3.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSSX Invesco BulletShares 2033 Municipal Bond ETF | 3.30% | 3.27% | 3.29% | 0.95% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MUB iShares National AMT-Free Muni Bond ETF | 3.17% | 3.14% | 3.01% | 2.65% | 2.11% | 1.81% | 2.11% | 2.42% | 2.46% | 2.26% | 2.21% | 2.51% |
Frequently Asked Questions
BSSX and MUB have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BSSX has higher volatility (1.17%) compared to MUB (0.98%). In terms of maximum drawdown, BSSX dropped -8.12% vs MUB's -13.68%.
On 1-year performance, BSSX leads with 7.02% vs 6.87% for MUB. On fees, MUB is cheaper at 0.07% per year. On volatility, MUB has been the lower-risk option at 0.98%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BSSX has performed better with a 7.02% return vs 6.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MUB is cheaper with a 0.07% expense ratio, compared with 0.18% for BSSX.
BSSX has the higher dividend yield at 3.30%, compared with 3.17% for MUB.
BSSX tracks Invesco BulletShares USD Municipal Bond 2033 Index, while MUB tracks S&P National AMT-Free Municipal Bond Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.18% for BSSX and 0.07% for MUB.
MUB currently has the higher Sharpe Ratio (2.37 vs 2.10), 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.
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