IBMM vs. BSMT

Last updated Jun 4, 2026

IBMM (iShares iBonds Dec 2024 Term Muni Bond ETF) and BSMT (Invesco BulletShares 2029 Municipal Bond ETF) are both Municipal Bonds funds - IBMM tracks the S&P AMT-Free Municipal Series Dec 2024 Index while BSMT tracks the Invesco BulletShares Municipal Bond 2029 Index. Both are passively managed. Both charge a 0.18% expense ratio.

Performance

IBMM vs. BSMT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM) and Invesco BulletShares 2029 Municipal Bond ETF (BSMT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IBMM

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BSMT

• 1D: -0.04%
• 1M: 0.44%
• YTD: 0.98%
• 6M: 1.37%
• 1Y: 5.29%
• 3Y*: 3.19%
• 5Y*: -0.12%
• 10Y*: —

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

IBMM vs. BSMT - Yearly Performance Comparison

	2026 (YTD)
IBMM iShares iBonds Dec 2024 Term Muni Bond ETF	0.00%
BSMT Invesco BulletShares 2029 Municipal Bond ETF	0.09%

Return for Risk

IBMM vs. BSMT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BSMT

BSMT Risk / Return Rank: 80
BSMT Sharpe Ratio Rank: 87
BSMT Sortino Ratio Rank: 93
BSMT Omega Ratio Rank: 93
BSMT Calmar Ratio Rank: 67
BSMT Martin Ratio Rank: 61

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IBMM vs. BSMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM) and Invesco BulletShares 2029 Municipal Bond ETF (BSMT). 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.

Sharpe Ratios by Period

	IBMM	BSMT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.87	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.03	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.15	—

Drawdowns

IBMM vs. BSMT - Drawdown Comparison

The maximum IBMM drawdown since its inception was 0.00%, smaller than the maximum BSMT drawdown of -16.20%. Use the drawdown chart below to compare losses from any high point for IBMM and BSMT.

Drawdown Indicators

	IBMM	BSMT	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-16.20%	+16.20%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.60%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-4.79%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-16.20%	—
Current Drawdown Current decline from peak	0.00%	-2.05%	+2.05%
Average Drawdown Average peak-to-trough decline	0.00%	-5.65%	+5.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.49%	—

Volatility

Volatility by Period

	IBMM	BSMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.62%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.22%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	1.85%	-1.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	4.25%	-4.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	6.42%	-6.42%

IBMM vs. BSMT - Expense Ratio Comparison

Both IBMM and BSMT have an expense ratio of 0.18%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

IBMM vs. BSMT - Dividend Comparison

IBMM has not paid dividends to shareholders, while BSMT's dividend yield for the trailing twelve months is around 2.74%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BSMT Invesco BulletShares 2029 Municipal Bond ETF	2.74%	2.78%	2.80%	2.62%	1.65%	1.31%	1.82%	0.48%
IBMM iShares iBonds Dec 2024 Term Muni Bond ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, IBMM or BSMT?

Both ETFs have the same 0.18% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBMM or BSMT?

IBMM and BSMT have the same expense ratio: 0.18% per year.

Which ETF pays a higher dividend yield, IBMM or BSMT?

BSMT has the higher dividend yield at 2.74%, compared with 0.00% for IBMM.

What is the main difference between IBMM and BSMT?

IBMM tracks S&P AMT-Free Municipal Series Dec 2024 Index, while BSMT tracks Invesco BulletShares Municipal Bond 2029 Index. They also come from different issuers: iShares and Invesco.