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MMIN vs. BSMR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MMIN vs. BSMR

Last updated Jun 4, 2026

MMIN (IQ MacKay Municipal Insured ETF) and BSMR (Invesco BulletShares 2027 Municipal Bond ETF) are both Municipal Bonds funds - MMIN tracks the Bloomberg Barclays Municipal All Insured Bond Index while BSMR tracks the Invesco BulletShares Municipal Bond 2027 Index. Both are passively managed. Over the past 5 years, MMIN returned 0.74%/yr vs 0.48%/yr for BSMR. A 0.59 correlation means they provide meaningful diversification when combined. MMIN charges 0.31%/yr vs 0.18%/yr for BSMR.

Performance

MMIN vs. BSMR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in IQ MacKay Municipal Insured ETF (MMIN) and Invesco BulletShares 2027 Municipal Bond ETF (BSMR). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, MMIN achieves a 2.32% return, which is significantly higher than BSMR's 1.04% return.

MMIN

1D
0.00%
1M
0.85%
YTD
2.32%
6M
2.74%
1Y
9.31%
3Y*
4.21%
5Y*
0.74%
10Y*
—

BSMR

1D
0.05%
1M
0.41%
YTD
1.04%
6M
1.31%
1Y
4.16%
3Y*
3.03%
5Y*
0.48%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

MMIN vs. BSMR - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
MMIN
IQ MacKay Municipal Insured ETF		2.32%4.65%0.93%7.45%-11.20%1.35%7.47%0.74%
BSMR
Invesco BulletShares 2027 Municipal Bond ETF		1.04%3.10%1.51%4.47%-7.60%1.09%4.97%0.16%

Correlation

The correlation between MMIN and BSMR is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.39

Correlation (3Y)
Calculated over the trailing 3-year period

0.59

Correlation (5Y)
Calculated over the trailing 5-year period

0.65

Correlation (All Time)
Calculated using the full available price history since Sep 27, 2019

0.59

Over the past year, the correlation between MMIN and BSMR has dropped to 0.39 - well below their long-term average of 0.59, suggesting their price drivers have been diverging.

MMIN vs. BSMR - Sectors Allocation Comparison

Sectors
MMIN
BSMR

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

0.0%

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Financial Services

-0.9%
1.9%

Basic Materials

MMIN

-

BSMR

-

Communication Services

MMIN

-

BSMR

-

Consumer Cyclical

MMIN

-

BSMR
0.0%

Consumer Defensive

MMIN

-

BSMR

-

Energy

MMIN

-

BSMR

-

Healthcare

MMIN

-

BSMR

-

Industrials

MMIN

-

BSMR

-

Real Estate

MMIN

-

BSMR

-

Technology

MMIN

-

BSMR

-

Utilities

MMIN

-

BSMR

-

Financial Services

MMIN
-0.9%
BSMR
1.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

IQ MacKay Municipal Insured ETF

Invesco BulletShares 2027 Municipal Bond ETF

Often compared with MMIN:
MMIN vs. ACTHXMMIN vs. OVMMMIN vs. MMITMMIN vs. JMUBMMIN vs. ZTAXMMIN vs. IWFGMMIN vs. LQD
Often compared with BSMR:
BSMR vs. MUBBSMR vs. CGDVBSMR vs. IBMMBSMR vs. ZTAXBSMR vs. CABSMR vs. CALIBSMR vs. SCMB

Return for Risk

MMIN vs. BSMR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MMIN
MMIN Risk / Return Rank: 7474
Overall Rank
MMIN Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
MMIN Sortino Ratio Rank: 8181
Sortino Ratio Rank
MMIN Omega Ratio Rank: 8282
Omega Ratio Rank
MMIN Calmar Ratio Rank: 6666
Calmar Ratio Rank
MMIN Martin Ratio Rank: 6565
Martin Ratio Rank
BSMR
BSMR Risk / Return Rank: 9494
Overall Rank
BSMR Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
BSMR Sortino Ratio Rank: 9696
Sortino Ratio Rank
BSMR Omega Ratio Rank: 9595
Omega Ratio Rank
BSMR Calmar Ratio Rank: 9494
Calmar Ratio Rank
BSMR Martin Ratio Rank: 9292
Martin Ratio Rank
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.

MMIN vs. BSMR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IQ MacKay Municipal Insured ETF (MMIN) and Invesco BulletShares 2027 Municipal Bond ETF (BSMR). 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.

MMINBSMRDifference
Sharpe ratioReturn per unit of total volatility
2.46
3.33

-0.87

Sortino ratioReturn per unit of downside risk
3.66
5.57

-1.92

Omega ratioGain probability vs. loss probability

1.49

1.74

-0.25

Calmar ratioReturn relative to maximum drawdown

3.25

7.37

-4.12

Martin ratioReturn relative to average drawdown

11.93

23.41

-11.48

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MMIN vs. BSMR - Sharpe Ratio Comparison

The current MMIN Sharpe Ratio is 2.46, which is comparable to the BSMR Sharpe Ratio of 3.33. The chart below compares the historical Sharpe Ratios of MMIN and BSMR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

MMINBSMRDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.46

3.33

-0.87

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.15

0.16

-0.01

Sharpe Ratio (All Time)

Calculated using the full available price history

0.38

0.22

+0.17

Drawdowns

MMIN vs. BSMR - Drawdown Comparison

The maximum MMIN drawdown since its inception was -16.87%, which is greater than BSMR's maximum drawdown of -13.49%. Use the drawdown chart below to compare losses from any high point for MMIN and BSMR.

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Drawdown Indicators

MMINBSMRDifference

Max Drawdown

Largest peak-to-trough decline

-16.87%

-13.49%

-3.38%

Max Drawdown (1Y)

Largest decline over 1 year

-2.87%

-0.57%

-2.30%

Max Drawdown (3Y)

Largest decline over 3 years

-7.22%

-3.50%

-3.72%

Max Drawdown (5Y)

Largest decline over 5 years

-16.87%

-12.02%

-4.85%

Current Drawdown

Current decline from peak

-0.08%

0.00%

-0.08%

Average Drawdown

Average peak-to-trough decline

-4.32%

-3.49%

-0.83%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.78%

0.18%

+0.60%

Volatility

MMIN vs. BSMR - Volatility Comparison

IQ MacKay Municipal Insured ETF (MMIN) has a higher volatility of 1.16% compared to Invesco BulletShares 2027 Municipal Bond ETF (BSMR) at 0.34%. This indicates that MMIN's price experiences larger fluctuations and is considered to be riskier than BSMR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MMINBSMRDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.16%

0.34%

+0.82%

Volatility (6M)

Calculated over the trailing 6-month period

2.49%

0.92%

+1.57%

Volatility (1Y)

Calculated over the trailing 1-year period

3.81%

1.25%

+2.56%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.02%

3.03%

+1.99%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.97%

5.72%

+1.25%

MMIN vs. BSMR - Expense Ratio Comparison

MMIN has a 0.31% expense ratio, which is higher than BSMR's 0.18% expense ratio.

Dividends

MMIN vs. BSMR - Dividend Comparison

MMIN's dividend yield for the trailing twelve months is around 4.12%, more than BSMR's 2.72% yield.

PositionTTM202520242023202220212020201920182017
BSMR
Invesco BulletShares 2027 Municipal Bond ETF		2.72%2.77%2.78%2.72%1.40%1.00%1.49%0.45%0.00%0.00%
MMIN
IQ MacKay Municipal Insured ETF		4.12%4.07%3.96%3.73%2.93%1.72%2.21%2.75%2.78%0.47%

Frequently Asked Questions

MMIN and BSMR have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

MMIN has higher volatility (1.16%) compared to BSMR (0.34%). In terms of maximum drawdown, MMIN dropped -16.87% vs BSMR's -13.49%.

On 5-year performance, MMIN leads with 0.74% vs 0.48% for BSMR. On fees, BSMR is cheaper at 0.18% per year. On volatility, BSMR has been the lower-risk option at 0.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, MMIN has performed better with a 0.74% return vs 0.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

BSMR is cheaper with a 0.18% expense ratio, compared with 0.31% for MMIN.

MMIN has the higher dividend yield at 4.12%, compared with 2.72% for BSMR.

MMIN tracks Bloomberg Barclays Municipal All Insured Bond Index, while BSMR tracks Invesco BulletShares Municipal Bond 2027 Index. They also come from different issuers: New York Life and Invesco. Their fees differ too: 0.31% for MMIN and 0.18% for BSMR.

BSMR currently has the higher Sharpe Ratio (3.33 vs 2.46), 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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