IBMQ vs. BSMQ
IBMQ (iShares iBonds Dec 2028 Term Muni Bond ETF) and BSMQ (Invesco BulletShares 2026 Municipal Bond ETF) are both Municipal Bonds funds - IBMQ tracks the S&P AMT-Free Municipal Series Callable-Adjusted Dec 2028 Index while BSMQ tracks the Invesco BulletShares Municipal Bond 2026 Index. Both are passively managed. Over the past 5 years, IBMQ returned 0.35%/yr vs 0.26%/yr for BSMQ. Their 0.56 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.18% expense ratio.
Performance
IBMQ vs. BSMQ - Performance Comparison
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Returns By Period
In the year-to-date period, IBMQ achieves a 0.90% return, which is significantly lower than BSMQ's 1.21% return.
IBMQ
- 1D
- 0.04%
- 1M
- -0.16%
- 6M
- 0.41%
- YTD
- 0.90%
- 1Y
- 2.02%
- 3Y*
- 2.88%
- 5Y*
- 0.35%
- 10Y*
- —
- ALL TIME*
- 1.95%
BSMQ
- 1D
- 0.04%
- 1M
- 0.20%
- 6M
- 0.98%
- YTD
- 1.21%
- 1Y
- 2.94%
- 3Y*
- 2.88%
- 5Y*
- 0.26%
- 10Y*
- —
- ALL TIME*
- 1.22%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $752.85K | $1.46M | $1.59M | |
| $1.97M | $1.98M | $1.89M |
IBMQ vs. BSMQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IBMQ iShares iBonds Dec 2028 Term Muni Bond ETF | 0.90% | 4.09% | 0.71% | 4.00% | -6.73% | -0.26% | 6.93% | 0.31% |
BSMQ Invesco BulletShares 2026 Municipal Bond ETF | 1.21% | 3.12% | 1.99% | 3.60% | -7.62% | 1.05% | 5.26% | 0.28% |
Correlation
The correlation between IBMQ and BSMQ is 0.09, 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. | 0.09 |
Correlation (3Y) Balances recent behavior with more history. | 0.43 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.60 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019 | 0.56 |
Over the past year, the correlation between IBMQ and BSMQ has dropped to 0.09 - well below their long-term average of 0.56, suggesting their price drivers have been diverging.
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Return for Risk
IBMQ vs. BSMQ — Risk / Return Rank
IBMQ
BSMQ
IBMQ vs. BSMQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2028 Term Muni Bond ETF (IBMQ) 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.
| IBMQ | BSMQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -1.03 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.48 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.09 | 10.33 | -8.24 |
| Martin ratioReturn relative to average drawdown | 5.46 | 27.47 | -22.01 |
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Drawdowns
IBMQ vs. BSMQ - Drawdown Comparison
The maximum IBMQ drawdown since its inception was -15.85%, which is greater than BSMQ's maximum drawdown of -13.18%. Use the drawdown chart below to compare losses from any high point for IBMQ and BSMQ.
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Drawdown Indicators
| IBMQ | BSMQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.85% | -13.18% | -2.67% |
Max Drawdown (1Y)Largest decline over 1 year | -1.13% | -0.30% | -0.83% |
Max Drawdown (3Y)Largest decline over 3 years | -2.64% | -2.05% | -0.59% |
Max Drawdown (5Y)Largest decline over 5 years | -11.45% | -11.50% | +0.05% |
Current DrawdownCurrent decline from peak | -0.25% | 0.00% | -0.25% |
Average DrawdownAverage peak-to-trough decline | -3.19% | -3.39% | +0.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 0.11% | +0.32% |
Volatility
IBMQ vs. BSMQ - Volatility Comparison
iShares iBonds Dec 2028 Term Muni Bond ETF (IBMQ) has a higher volatility of 0.37% compared to Invesco BulletShares 2026 Municipal Bond ETF (BSMQ) at 0.26%. This indicates that IBMQ'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
| IBMQ | BSMQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.37% | 0.26% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 0.88% | 0.86% | +0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.22% | 1.30% | -0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.94% | 2.65% | +0.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.49% | 4.74% | +0.75% |
IBMQ vs. BSMQ - Expense Ratio Comparison
Both IBMQ 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
IBMQ vs. BSMQ - Dividend Comparison
IBMQ's dividend yield for the trailing twelve months is around 2.45%, less than BSMQ's 2.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BSMQ Invesco BulletShares 2026 Municipal Bond ETF | 2.75% | 2.74% | 2.75% | 2.47% | 1.60% | 1.14% | 1.57% | 0.44% |
IBMQ iShares iBonds Dec 2028 Term Muni Bond ETF | 2.24% | 2.43% | 2.33% | 1.93% | 1.25% | 1.05% | 1.24% | 1.03% |
Frequently Asked Questions
IBMQ and BSMQ have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBMQ has higher volatility (0.37%) compared to BSMQ (0.26%). In terms of maximum drawdown, IBMQ dropped -15.85% vs BSMQ's -13.18%.
On 5-year performance, IBMQ leads with 0.35% vs 0.26% for BSMQ. Both ETFs have the same 0.18% expense ratio. On volatility, BSMQ has been the lower-risk option at 0.26%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IBMQ has performed better with a 0.35% return vs 0.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBMQ and BSMQ have the same expense ratio: 0.18% per year.
BSMQ has the higher dividend yield at 2.75%, compared with 2.24% for IBMQ.
IBMQ tracks S&P AMT-Free Municipal Series Callable-Adjusted Dec 2028 Index, while BSMQ tracks Invesco BulletShares Municipal Bond 2026 Index. They also come from different issuers: iShares and Invesco.
BSMQ currently has the higher Sharpe Ratio (2.36 vs 1.95), 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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