IBMO vs. BSMQ
IBMO (iShares iBonds Dec 2026 Term Muni Bond ETF) and BSMQ (Invesco BulletShares 2026 Municipal Bond ETF) are both Municipal Bonds funds - IBMO tracks the S&P AMT-Free Municipal Series Callable-Adjusted Dec 2026 Index while BSMQ tracks the Invesco BulletShares Municipal Bond 2026 Index. Both are passively managed. Over the past 5 years, IBMO returned 0.67%/yr vs 0.31%/yr for BSMQ. A 0.50 correlation means they provide meaningful diversification when combined. Both charge a 0.18% expense ratio.
Performance
IBMO vs. BSMQ - Performance Comparison
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Returns By Period
In the year-to-date period, IBMO achieves a 0.95% return, which is significantly higher than BSMQ's 0.81% return.
IBMO
- 1D
- 0.01%
- 1M
- 0.17%
- YTD
- 0.95%
- 6M
- 1.30%
- 1Y
- 2.78%
- 3Y*
- 2.93%
- 5Y*
- 0.67%
- 10Y*
- —
BSMQ
- 1D
- 0.07%
- 1M
- 0.17%
- YTD
- 0.81%
- 6M
- 1.18%
- 1Y
- 2.98%
- 3Y*
- 2.90%
- 5Y*
- 0.31%
- 10Y*
- —
IBMO vs. BSMQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IBMO iShares iBonds Dec 2026 Term Muni Bond ETF | 0.95% | 3.11% | 1.97% | 2.90% | -5.36% | -0.16% | 5.48% | 0.56% |
BSMQ Invesco BulletShares 2026 Municipal Bond ETF | 0.81% | 3.12% | 1.99% | 3.60% | -7.62% | 1.05% | 5.26% | 0.24% |
Correlation
The correlation between IBMO and BSMQ is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2019 | 0.50 |
Over the past year, the correlation between IBMO and BSMQ has dropped to 0.07 - well below their long-term average of 0.50, suggesting their price drivers have been diverging.
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Return for Risk
IBMO vs. BSMQ — Risk / Return Rank
IBMO
BSMQ
IBMO vs. BSMQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2026 Term Muni Bond ETF (IBMO) 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.
| IBMO | BSMQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.47 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 7.38 | 9.12 | -1.75 |
| Martin ratioReturn relative to average drawdown | 21.93 | 23.88 | -1.95 |
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
| IBMO | BSMQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.54 | 2.26 | +0.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.31 | 0.12 | +0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.25 | +0.16 |
Drawdowns
IBMO vs. BSMQ - Drawdown Comparison
The maximum IBMO drawdown since its inception was -14.77%, which is greater than BSMQ's maximum drawdown of -13.18%. Use the drawdown chart below to compare losses from any high point for IBMO and BSMQ.
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Drawdown Indicators
| IBMO | BSMQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.77% | -13.18% | -1.59% |
Max Drawdown (1Y)Largest decline over 1 year | -0.38% | -0.33% | -0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -1.76% | -2.53% | +0.77% |
Max Drawdown (5Y)Largest decline over 5 years | -8.86% | -11.50% | +2.64% |
Current DrawdownCurrent decline from peak | 0.00% | -0.05% | +0.05% |
Average DrawdownAverage peak-to-trough decline | -2.32% | -3.47% | +1.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.13% | 0.12% | +0.01% |
Volatility
IBMO vs. BSMQ - Volatility Comparison
The current volatility for iShares iBonds Dec 2026 Term Muni Bond ETF (IBMO) is 0.19%, while Invesco BulletShares 2026 Municipal Bond ETF (BSMQ) has a volatility of 0.40%. This indicates that IBMO 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
| IBMO | BSMQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.19% | 0.40% | -0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 0.83% | 0.94% | -0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.10% | 1.33% | -0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.15% | 2.68% | -0.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.52% | 4.79% | -0.27% |
IBMO vs. BSMQ - Expense Ratio Comparison
Both IBMO and BSMQ 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
IBMO vs. BSMQ - Dividend Comparison
IBMO's dividend yield for the trailing twelve months is around 2.39%, less 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% |
IBMO iShares iBonds Dec 2026 Term Muni Bond ETF | 2.39% | 2.37% | 2.15% | 1.65% | 0.89% | 0.62% | 1.03% | 1.01% |
Frequently Asked Questions
IBMO and BSMQ have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BSMQ has higher volatility (0.40%) compared to IBMO (0.19%). In terms of maximum drawdown, IBMO dropped -14.77% vs BSMQ's -13.18%.
On 5-year performance, IBMO leads with 0.67% vs 0.31% for BSMQ. Both ETFs have the same 0.18% expense ratio. On volatility, IBMO has been the lower-risk option at 0.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IBMO has performed better with a 0.67% return vs 0.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBMO and BSMQ have the same expense ratio: 0.18% per year.
BSMQ has the higher dividend yield at 2.76%, compared with 2.39% for IBMO.
IBMO tracks S&P AMT-Free Municipal Series Callable-Adjusted Dec 2026 Index, while BSMQ tracks Invesco BulletShares Municipal Bond 2026 Index. They also come from different issuers: iShares and Invesco.
IBMO currently has the higher Sharpe Ratio (2.54 vs 2.26), 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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