PBOG vs. BSMW
PBOG (Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF) and BSMW (Invesco BulletShares 2032 Municipal Bond ETF) are both exchange-traded funds - PBOG is a Energy Equities fund tracking the BITA Global Oil & Gas Select Index, while BSMW is a Municipal Bonds fund tracking the Invesco BulletShares USD Municipal Bond 2032 Index. Both are passively managed. At a correlation of -0.36, they often move in opposite directions. PBOG charges 0.13%/yr vs 0.18%/yr for BSMW.
Performance
PBOG vs. BSMW - Performance Comparison
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Returns By Period
In the year-to-date period, PBOG achieves a 20.33% return, which is significantly higher than BSMW's 1.38% return.
PBOG
- 1D
- 0.25%
- 1M
- -9.73%
- YTD
- 20.33%
- 6M
- 21.36%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BSMW
- 1D
- -0.06%
- 1M
- 1.23%
- YTD
- 1.38%
- 6M
- 1.51%
- 1Y
- 6.18%
- 3Y*
- 2.88%
- 5Y*
- —
- 10Y*
- —
PBOG vs. BSMW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PBOG Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF | 20.33% | 1.39% |
BSMW Invesco BulletShares 2032 Municipal Bond ETF | 1.38% | 0.21% |
Correlation
The correlation between PBOG and BSMW is -0.36, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 25, 2025 | -0.36 |
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Return for Risk
PBOG vs. BSMW — Risk / Return Rank
PBOG
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BSMW
PBOG vs. BSMW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF (PBOG) and Invesco BulletShares 2032 Municipal Bond ETF (BSMW). 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.
| PBOG | BSMW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.47 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.13 | — |
| Martin ratioReturn relative to average drawdown | — | 6.54 | — |
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Drawdowns
PBOG vs. BSMW - Drawdown Comparison
The maximum PBOG drawdown since its inception was -16.46%, which is greater than BSMW's maximum drawdown of -7.57%. Use the drawdown chart below to compare losses from any high point for PBOG and BSMW.
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Drawdown Indicators
| PBOG | BSMW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.46% | -7.57% | -8.89% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.92% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -7.34% | — |
Current DrawdownCurrent decline from peak | -15.19% | -0.90% | -14.29% |
Average DrawdownAverage peak-to-trough decline | -3.86% | -1.71% | -2.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.95% | — |
Volatility
PBOG vs. BSMW - Volatility Comparison
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Volatility by Period
| PBOG | BSMW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.48% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 1.95% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 23.95% | 2.68% | +21.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.95% | 4.96% | +18.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.95% | 4.96% | +18.99% |
PBOG vs. BSMW - Expense Ratio Comparison
PBOG has a 0.13% expense ratio, which is lower than BSMW's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
PBOG vs. BSMW - Dividend Comparison
PBOG's dividend yield for the trailing twelve months is around 0.14%, less than BSMW's 3.20% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BSMW Invesco BulletShares 2032 Municipal Bond ETF | 3.20% | 3.24% | 3.48% | 2.36% |
PBOG Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF | 0.14% | 0.17% | 0.00% | 0.00% |
Frequently Asked Questions
PBOG and BSMW have a correlation of -0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PBOG is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PBOG is cheaper with a 0.13% expense ratio, compared with 0.18% for BSMW.
BSMW has the higher dividend yield at 3.20%, compared with 0.14% for PBOG.
PBOG is categorized as Energy Equities, while BSMW is Municipal Bonds. PBOG tracks BITA Global Oil & Gas Select Index, while BSMW tracks Invesco BulletShares USD Municipal Bond 2032 Index. They also come from different issuers: Portfolio Building Blocks and Invesco. Their fees differ too: 0.13% for PBOG and 0.18% for BSMW.
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