EVSM vs. BSMQ
EVSM (Eaton Vance Short Duration Municipal Income ETF) and BSMQ (Invesco BulletShares 2026 Municipal Bond ETF) are both Municipal Bonds funds - EVSM tracks the ICE BofA 1-3 Year Municipal Securities Index while BSMQ tracks the Invesco BulletShares Municipal Bond 2026 Index. Both are passively managed. Over the past year, EVSM returned 4.06% vs 3.08% for BSMQ. At a 0.33 correlation, their price movements are largely independent. EVSM charges 0.19%/yr vs 0.18%/yr for BSMQ.
Performance
EVSM vs. BSMQ - Performance Comparison
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Returns By Period
In the year-to-date period, EVSM achieves a 1.15% return, which is significantly higher than BSMQ's 0.73% return.
EVSM
- 1D
- 0.06%
- 1M
- 0.42%
- YTD
- 1.15%
- 6M
- 1.48%
- 1Y
- 4.06%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BSMQ
- 1D
- -0.06%
- 1M
- 0.14%
- YTD
- 0.73%
- 6M
- 1.17%
- 1Y
- 3.08%
- 3Y*
- 2.92%
- 5Y*
- 0.29%
- 10Y*
- —
EVSM vs. BSMQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
EVSM Eaton Vance Short Duration Municipal Income ETF | 1.15% | 4.24% | 2.52% |
BSMQ Invesco BulletShares 2026 Municipal Bond ETF | 0.73% | 3.12% | 1.95% |
Correlation
The correlation between EVSM and BSMQ is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2024 | 0.33 |
The correlation between EVSM and BSMQ shifts across timeframes, from 0.16 (1 year) to 0.33 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EVSM vs. BSMQ — Risk / Return Rank
EVSM
BSMQ
EVSM vs. BSMQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Short Duration Municipal Income ETF (EVSM) and Invesco BulletShares 2026 Municipal Bond ETF (BSMQ). 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.
| EVSM | BSMQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.91 | ||
| Sortino ratioReturn per unit of downside risk | +1.45 | ||
| Omega ratioGain probability vs. loss probability | 1.70 | 1.48 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 3.79 | 9.43 | -5.63 |
| Martin ratioReturn relative to average drawdown | 13.52 | 24.69 | -11.17 |
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
| EVSM | BSMQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.23 | 2.32 | +0.91 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.11 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.89 | 0.25 | +1.65 |
Drawdowns
EVSM vs. BSMQ - Drawdown Comparison
The maximum EVSM drawdown since its inception was -1.50%, smaller than the maximum BSMQ drawdown of -13.18%. Use the drawdown chart below to compare losses from any high point for EVSM and BSMQ.
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Drawdown Indicators
| EVSM | BSMQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.50% | -13.18% | +11.68% |
Max Drawdown (1Y)Largest decline over 1 year | -1.07% | -0.33% | -0.74% |
Max Drawdown (3Y)Largest decline over 3 years | — | -2.53% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -11.50% | — |
Current DrawdownCurrent decline from peak | -0.06% | -0.12% | +0.06% |
Average DrawdownAverage peak-to-trough decline | -0.24% | -3.48% | +3.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.30% | 0.12% | +0.18% |
Volatility
EVSM vs. BSMQ - Volatility Comparison
The current volatility for Eaton Vance Short Duration Municipal Income ETF (EVSM) is 0.33%, while Invesco BulletShares 2026 Municipal Bond ETF (BSMQ) has a volatility of 0.39%. This indicates that EVSM experiences smaller price fluctuations and is considered to be less risky than BSMQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EVSM | BSMQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.33% | 0.39% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 0.83% | 0.94% | -0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.27% | 1.33% | -0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.92% | 2.68% | -0.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.92% | 4.79% | -2.87% |
EVSM vs. BSMQ - Expense Ratio Comparison
EVSM has a 0.19% expense ratio, which is higher than BSMQ's 0.18% 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
EVSM vs. BSMQ - Dividend Comparison
EVSM's dividend yield for the trailing twelve months is around 3.00%, more than BSMQ's 2.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BSMQ Invesco BulletShares 2026 Municipal Bond ETF | 2.76% | 2.74% | 2.75% | 2.47% | 1.60% | 1.14% | 1.57% | 0.44% |
EVSM Eaton Vance Short Duration Municipal Income ETF | 3.00% | 3.12% | 2.99% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EVSM and BSMQ have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BSMQ has higher volatility (0.39%) compared to EVSM (0.33%). In terms of maximum drawdown, EVSM dropped -1.50% vs BSMQ's -13.18%.
On 1-year performance, EVSM leads with 4.06% vs 3.08% for BSMQ. On fees, BSMQ is cheaper at 0.18% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, EVSM has performed better with a 4.06% return vs 3.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BSMQ is cheaper with a 0.18% expense ratio, compared with 0.19% for EVSM.
EVSM has the higher dividend yield at 3.00%, compared with 2.76% for BSMQ.
EVSM tracks ICE BofA 1-3 Year Municipal Securities Index, while BSMQ tracks Invesco BulletShares Municipal Bond 2026 Index. They also come from different issuers: Eaton Vance and Invesco. Their fees differ too: 0.19% for EVSM and 0.18% for BSMQ.
EVSM currently has the higher Sharpe Ratio (3.23 vs 2.32), 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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