FUMB vs. BSMQ
FUMB (First Trust Ultra Short Duration Municipal ETF) and BSMQ (Invesco BulletShares 2026 Municipal Bond ETF) are both Municipal Bonds funds. FUMB is actively managed, while BSMQ is passively managed. Over the past 5 years, FUMB returned 1.99%/yr vs 0.24%/yr for BSMQ. Their 0.19 correlation means their historical movements had little consistent relationship. FUMB charges 0.45%/yr vs 0.18%/yr for BSMQ.
Performance
FUMB vs. BSMQ - Performance Comparison
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Returns By Period
In the year-to-date period, FUMB achieves a 1.39% return, which is significantly higher than BSMQ's 1.17% return.
FUMB
- 1D
- -0.07%
- 1M
- -0.01%
- 6M
- 0.86%
- YTD
- 1.39%
- 1Y
- 2.19%
- 3Y*
- 2.92%
- 5Y*
- 1.99%
- 10Y*
- —
- ALL TIME*
- 1.78%
BSMQ
- 1D
- -0.04%
- 1M
- 0.16%
- 6M
- 0.98%
- YTD
- 1.17%
- 1Y
- 2.89%
- 3Y*
- 3.04%
- 5Y*
- 0.24%
- 10Y*
- —
- ALL TIME*
- 1.21%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $709.45K | $1.45M | $1.55M | |
| $985.06K | $934.27K | $1.49M |
FUMB vs. BSMQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FUMB First Trust Ultra Short Duration Municipal ETF | 1.39% | 2.78% | 3.05% | 2.84% | -0.03% | 0.38% | 1.25% | 0.40% |
BSMQ Invesco BulletShares 2026 Municipal Bond ETF | 1.17% | 3.12% | 1.99% | 3.60% | -7.62% | 1.05% | 5.26% | 0.28% |
Correlation
The correlation between FUMB and BSMQ is 0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.04 |
Correlation (3Y) Balances recent behavior with more history. | 0.16 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.23 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019 | 0.19 |
The correlation between FUMB and BSMQ shifts across timeframes, from 0.04 (1 year) to 0.23 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
FUMB vs. BSMQ — Risk / Return Rank
FUMB
BSMQ
FUMB vs. BSMQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Ultra Short Duration Municipal ETF (FUMB) 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.
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.
| FUMB | BSMQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.39 | ||
| Sortino ratioReturn per unit of downside risk | +0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.56 | 1.46 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 9.61 | 9.81 | -0.20 |
| Martin ratioReturn relative to average drawdown | 32.75 | 26.08 | +6.66 |
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Drawdowns
FUMB vs. BSMQ - Drawdown Comparison
The maximum FUMB drawdown since its inception was -2.68%, smaller than the maximum BSMQ drawdown of -13.18%. Use the drawdown chart below to compare losses from any high point for FUMB and BSMQ.
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Drawdown Indicators
| FUMB | BSMQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.68% | -13.18% | +10.50% |
Max Drawdown (1Y)Largest decline over 1 year | -0.23% | -0.30% | +0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -0.60% | -2.05% | +1.45% |
Max Drawdown (5Y)Largest decline over 5 years | -1.25% | -11.50% | +10.25% |
Current DrawdownCurrent decline from peak | -0.23% | -0.04% | -0.19% |
Average DrawdownAverage peak-to-trough decline | -0.19% | -3.39% | +3.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.07% | 0.11% | -0.04% |
Volatility
FUMB vs. BSMQ - Volatility Comparison
First Trust Ultra Short Duration Municipal ETF (FUMB) has a higher volatility of 0.35% compared to Invesco BulletShares 2026 Municipal Bond ETF (BSMQ) at 0.26%. This indicates that FUMB's price experiences larger fluctuations and is considered to be riskier 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
| FUMB | BSMQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.35% | 0.26% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 0.62% | 0.86% | -0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.84% | 1.30% | -0.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.18% | 2.65% | -1.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.75% | 4.73% | -2.98% |
FUMB vs. BSMQ - Expense Ratio Comparison
FUMB has a 0.45% expense ratio, which is higher than BSMQ's 0.18% expense ratio.
Dividends
FUMB vs. BSMQ - Dividend Comparison
FUMB's dividend yield for the trailing twelve months is around 2.75%, which matches BSMQ's 2.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BSMQ Invesco BulletShares 2026 Municipal Bond ETF | 2.75% | 2.74% | 2.75% | 2.47% | 1.60% | 1.14% | 1.57% | 0.44% | 0.00% |
FUMB First Trust Ultra Short Duration Municipal ETF | 2.75% | 2.90% | 2.86% | 2.24% | 1.02% | 0.43% | 0.94% | 1.74% | 0.15% |
Frequently Asked Questions
FUMB and BSMQ have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FUMB has higher volatility (0.35%) compared to BSMQ (0.26%). In terms of maximum drawdown, FUMB dropped -2.68% vs BSMQ's -13.18%.
On 5-year performance, FUMB leads with 1.99% vs 0.24% 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 5-year period, FUMB has performed better with a 1.99% return vs 0.24%. 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 0.45% for FUMB.
FUMB and BSMQ have nearly identical dividend yields, around 2.75%.
They also come from different issuers: First Trust and Invesco. Their fees differ too: 0.45% for FUMB and 0.18% for BSMQ.
FUMB currently has the higher Sharpe Ratio (2.63 vs 2.24), 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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