PAHC vs. BSMU

Last updated Jun 4, 2026

PAHC (Phibro Animal Health Corporation) is a stock, while BSMU (Invesco BulletShares 2030 Municipal Bond ETF) is Municipal Bonds fund tracking the Invesco Bulletshares Municipal Bond 2030 Index. Over the past 5 years, PAHC returned 4.39%/yr vs -0.68%/yr for BSMU. At a 0.08 correlation, their price movements are largely independent.

Performance

PAHC vs. BSMU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Phibro Animal Health Corporation (PAHC) and Invesco BulletShares 2030 Municipal Bond ETF (BSMU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PAHC achieves a -14.35% return, which is significantly lower than BSMU's 0.56% return.

PAHC

• 1D: 11.94%
• 1M: -41.62%
• YTD: -14.35%
• 6M: -22.69%
• 1Y: 33.02%
• 3Y*: 35.73%
• 5Y*: 4.39%
• 10Y*: 7.38%

BSMU

• 1D: -0.15%
• 1M: 0.37%
• YTD: 0.56%
• 6M: 0.90%
• 1Y: 5.50%
• 3Y*: 3.02%
• 5Y*: -0.68%
• 10Y*: —

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

PAHC vs. BSMU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
PAHC Phibro Animal Health Corporation	-14.35%	80.76%	86.30%	-10.42%	-32.33%	7.28%	3.86%
BSMU Invesco BulletShares 2030 Municipal Bond ETF	0.56%	4.35%	-0.29%	6.31%	-13.76%	1.88%	4.10%

Correlation

The correlation between PAHC and BSMU is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (5Y) Calculated over the trailing 5-year period	0.09
Correlation (All Time) Calculated using the full available price history since Oct 13, 2020	0.08

The correlation between PAHC and BSMU shifts across timeframes, from 0.08 (all time) to 0.20 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

PAHC vs. BSMU — Risk / Return Rank

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

PAHC

PAHC Risk / Return Rank: 59
PAHC Sharpe Ratio Rank: 60
PAHC Sortino Ratio Rank: 58
PAHC Omega Ratio Rank: 60
PAHC Calmar Ratio Rank: 55
PAHC Martin Ratio Rank: 62

BSMU

BSMU Risk / Return Rank: 72
BSMU Sharpe Ratio Rank: 80
BSMU Sortino Ratio Rank: 88
BSMU Omega Ratio Rank: 89
BSMU Calmar Ratio Rank: 55
BSMU Martin Ratio Rank: 50

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.

PAHC vs. BSMU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Phibro Animal Health Corporation (PAHC) and Invesco BulletShares 2030 Municipal Bond ETF (BSMU). 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.

	PAHC	BSMU	Difference
Sharpe ratio: Return per unit of total volatility	0.57	2.59	-2.02
Sortino ratio: Return per unit of downside risk	1.17	3.96	-2.79
Omega ratio: Gain probability vs. loss probability	1.17	1.57	-0.40
Calmar ratio: Return relative to maximum drawdown	0.64	2.68	-2.04
Martin ratio: Return relative to average drawdown	2.36	8.28	-5.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PAHC vs. BSMU - Sharpe Ratio Comparison

The current PAHC Sharpe Ratio is 0.57, which is lower than the BSMU Sharpe Ratio of 2.59. The chart below compares the historical Sharpe Ratios of PAHC and BSMU, 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

	PAHC	BSMU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.57	2.59	-2.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.09	-0.14	+0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.17	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	0.06	+0.10

Drawdowns

PAHC vs. BSMU - Drawdown Comparison

The maximum PAHC drawdown since its inception was -79.62%, which is greater than BSMU's maximum drawdown of -19.48%. Use the drawdown chart below to compare losses from any high point for PAHC and BSMU.

Drawdown Indicators

	PAHC	BSMU	Difference
Max Drawdown Largest peak-to-trough decline	-79.62%	-19.48%	-60.14%
Max Drawdown (1Y) Largest decline over 1 year	-52.13%	-2.06%	-50.07%
Max Drawdown (3Y) Largest decline over 3 years	-52.13%	-5.92%	-46.21%
Max Drawdown (5Y) Largest decline over 5 years	-65.71%	-19.48%	-46.23%
Max Drawdown (10Y) Largest decline over 10 years	-79.62%	—	—
Current Drawdown Current decline from peak	-46.42%	-4.83%	-41.59%
Average Drawdown Average peak-to-trough decline	-38.99%	-8.20%	-30.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.02%	0.67%	+13.35%

Volatility

PAHC vs. BSMU - Volatility Comparison

Phibro Animal Health Corporation (PAHC) has a higher volatility of 35.44% compared to Invesco BulletShares 2030 Municipal Bond ETF (BSMU) at 0.79%. This indicates that PAHC's price experiences larger fluctuations and is considered to be riskier than BSMU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PAHC	BSMU	Difference
Volatility (1M) Calculated over the trailing 1-month period	35.44%	0.79%	+34.65%
Volatility (6M) Calculated over the trailing 6-month period	49.58%	1.48%	+48.10%
Volatility (1Y) Calculated over the trailing 1-year period	58.30%	2.13%	+56.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.26%	4.83%	+42.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.59%	4.85%	+39.74%

Dividends

PAHC vs. BSMU - Dividend Comparison

PAHC's dividend yield for the trailing twelve months is around 1.89%, less than BSMU's 2.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BSMU Invesco BulletShares 2030 Municipal Bond ETF	2.80%	2.82%	2.92%	2.66%	2.16%	1.60%	0.28%	0.00%	0.00%	0.00%	0.00%	0.00%
PAHC Phibro Animal Health Corporation	1.89%	1.28%	2.29%	4.15%	3.58%	2.35%	2.47%	1.93%	1.31%	1.19%	1.37%	1.33%

Frequently Asked Questions

Can I hold both PAHC and BSMU in my portfolio?

PAHC and BSMU have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PAHC or BSMU?

PAHC has higher volatility (35.44%) compared to BSMU (0.79%). In terms of maximum drawdown, PAHC dropped -79.62% vs BSMU's -19.48%.

Which has better risk-adjusted returns?

BSMU currently has the higher Sharpe Ratio (2.59 vs 0.57), 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.