IBMO vs. BSSX

Last updated Apr 15, 2026

IBMO (iShares iBonds Dec 2026 Term Muni Bond ETF) and BSSX (Invesco BulletShares 2033 Municipal Bond ETF) are both Municipal Bonds funds — IBMO tracks the S&P AMT-Free Municipal Series Callable-Adjusted Dec 2026 Index while BSSX tracks the Invesco BulletShares USD Municipal Bond 2033 Index. Both are passively managed. Over the past year, IBMO returned 3.13% vs 7.31% for BSSX. At 0.35, their price movements are largely independent. Both charge a 0.18% expense ratio.

Performance

IBMO vs. BSSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2026 Term Muni Bond ETF (IBMO) and Invesco BulletShares 2033 Municipal Bond ETF (BSSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBMO achieves a 0.49% return, which is significantly higher than BSSX's 0.26% return.

IBMO

• 1D: -0.06%
• 1M: -0.04%
• YTD: 0.49%
• 6M: 1.28%
• 1Y: 3.13%
• 3Y*: 2.23%
• 5Y*: 0.54%
• 10Y*: —

BSSX

• 1D: 0.17%
• 1M: 0.37%
• YTD: 0.26%
• 6M: 1.62%
• 1Y: 7.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IBMO vs. BSSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
IBMO iShares iBonds Dec 2026 Term Muni Bond ETF	0.49%	3.11%	1.97%	2.87%
BSSX Invesco BulletShares 2033 Municipal Bond ETF	0.26%	3.79%	-0.09%	7.50%

Correlation

The correlation between IBMO and BSSX is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (All Time) Calculated using the full available price history since Sep 21, 2023	0.35

Over the past year, the correlation between IBMO and BSSX has dropped to 0.13 — well below their long-term average of 0.35, suggesting their price drivers have been diverging.

Return for Risk

IBMO vs. BSSX — Risk / Return Rank

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

IBMO

IBMO Risk / Return Rank: 89
IBMO Sharpe Ratio Rank: 79
IBMO Sortino Ratio Rank: 89
IBMO Omega Ratio Rank: 85
IBMO Calmar Ratio Rank: 97
IBMO Martin Ratio Rank: 94

BSSX

BSSX Risk / Return Rank: 47
BSSX Sharpe Ratio Rank: 50
BSSX Sortino Ratio Rank: 50
BSSX Omega Ratio Rank: 65
BSSX Calmar Ratio Rank: 32
BSSX Martin Ratio Rank: 37

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.

IBMO vs. BSSX - 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 2033 Municipal Bond ETF (BSSX). 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	BSSX	Difference
Sharpe ratio Return per unit of total volatility	2.77	2.03	+0.74
Sortino ratio Return per unit of downside risk	4.49	2.83	+1.67
Omega ratio Gain probability vs. loss probability	1.57	1.43	+0.15
Calmar ratio Return relative to maximum drawdown	9.47	2.33	+7.13
Martin ratio Return relative to average drawdown	28.08	8.92	+19.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBMO vs. BSSX - Sharpe Ratio Comparison

The current IBMO Sharpe Ratio is 2.77, which is higher than the BSSX Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of IBMO and BSSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IBMO	BSSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.77	2.03	+0.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.56	-0.16

Drawdowns

IBMO vs. BSSX - Drawdown Comparison

The maximum IBMO drawdown since its inception was -14.77%, which is greater than BSSX's maximum drawdown of -8.12%. Use the drawdown chart below to compare losses from any high point for IBMO and BSSX.

Drawdown Indicators

	IBMO	BSSX	Difference
Max Drawdown Largest peak-to-trough decline	-14.77%	-8.12%	-6.65%
Max Drawdown (1Y) Largest decline over 1 year	-0.38%	-3.28%	+2.90%
Max Drawdown (5Y) Largest decline over 5 years	-8.86%	—	—
Current Drawdown Current decline from peak	-0.12%	-1.75%	+1.63%
Average Drawdown Average peak-to-trough decline	-2.37%	-3.35%	+0.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.13%	0.86%	-0.73%

Volatility

IBMO vs. BSSX - Volatility Comparison

The current volatility for iShares iBonds Dec 2026 Term Muni Bond ETF (IBMO) is 0.40%, while Invesco BulletShares 2033 Municipal Bond ETF (BSSX) has a volatility of 1.34%. This indicates that IBMO experiences smaller price fluctuations and is considered to be less risky than BSSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBMO	BSSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.40%	1.34%	-0.94%
Volatility (6M) Calculated over the trailing 6-month period	0.93%	2.14%	-1.21%
Volatility (1Y) Calculated over the trailing 1-year period	1.18%	3.83%	-2.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.16%	8.00%	-5.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.56%	8.00%	-3.44%

IBMO vs. BSSX - Expense Ratio Comparison

Both IBMO and BSSX 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. BSSX - Dividend Comparison

IBMO's dividend yield for the trailing twelve months is around 2.38%, less than BSSX's 3.31% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
IBMO iShares iBonds Dec 2026 Term Muni Bond ETF	2.38%	2.37%	2.15%	1.65%	0.89%	0.62%	1.03%	1.01%
BSSX Invesco BulletShares 2033 Municipal Bond ETF	3.31%	3.27%	3.29%	0.95%	0.00%	0.00%	0.00%	0.00%