MUNA vs. BSMR
MUNA (Northern Trust 2030 Tax-Exempt Distributing Ladder ETF) and BSMR (Invesco BulletShares 2027 Municipal Bond ETF) are both Municipal Bonds funds. MUNA is actively managed, while BSMR is passively managed. At a 0.35 correlation, their price movements are largely independent. Both charge a 0.18% expense ratio.
Performance
MUNA vs. BSMR - Performance Comparison
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Returns By Period
In the year-to-date period, MUNA achieves a 1.42% return, which is significantly higher than BSMR's 1.28% return.
MUNA
- 1D
- -0.01%
- 1M
- 0.32%
- YTD
- 1.42%
- 6M
- 1.45%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BSMR
- 1D
- 0.12%
- 1M
- 0.41%
- YTD
- 1.28%
- 6M
- 1.32%
- 1Y
- 3.64%
- 3Y*
- 2.88%
- 5Y*
- 0.53%
- 10Y*
- —
MUNA vs. BSMR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MUNA Northern Trust 2030 Tax-Exempt Distributing Ladder ETF | 1.42% | 0.68% |
BSMR Invesco BulletShares 2027 Municipal Bond ETF | 1.28% | 1.34% |
Correlation
The correlation between MUNA and BSMR is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 19, 2025 | 0.35 |
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Return for Risk
MUNA vs. BSMR — Risk / Return Rank
MUNA
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BSMR
MUNA vs. BSMR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Northern Trust 2030 Tax-Exempt Distributing Ladder ETF (MUNA) 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.
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.
| MUNA | BSMR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.61 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 6.45 | — |
| Martin ratioReturn relative to average drawdown | — | 20.26 | — |
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Drawdowns
MUNA vs. BSMR - Drawdown Comparison
The maximum MUNA drawdown since its inception was -0.91%, smaller than the maximum BSMR drawdown of -13.49%. Use the drawdown chart below to compare losses from any high point for MUNA and BSMR.
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Drawdown Indicators
| MUNA | BSMR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.91% | -13.49% | +12.58% |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.57% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -3.50% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -12.02% | — |
Current DrawdownCurrent decline from peak | -0.56% | -0.03% | -0.53% |
Average DrawdownAverage peak-to-trough decline | -0.27% | -3.45% | +3.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.18% | — |
Volatility
MUNA vs. BSMR - Volatility Comparison
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Volatility by Period
| MUNA | BSMR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.41% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 0.96% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.83% | 1.28% | +0.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.83% | 3.02% | -1.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.83% | 5.70% | -3.87% |
MUNA vs. BSMR - Expense Ratio Comparison
Both MUNA and BSMR 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
MUNA vs. BSMR - Dividend Comparison
MUNA's dividend yield for the trailing twelve months is around 1.66%, less than BSMR's 2.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BSMR Invesco BulletShares 2027 Municipal Bond ETF | 2.71% | 2.77% | 2.78% | 2.72% | 1.40% | 1.00% | 1.49% | 0.45% |
MUNA Northern Trust 2030 Tax-Exempt Distributing Ladder ETF | 1.66% | 0.76% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MUNA and BSMR have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.18% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
MUNA and BSMR have the same expense ratio: 0.18% per year.
BSMR has the higher dividend yield at 2.71%, compared with 1.66% for MUNA.
They also come from different issuers: Northern Trust and Invesco.
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