PIT vs. BSMV

Last updated Jul 15, 2026

PIT (VanEck Commodity Strategy ETF) and BSMV (Invesco BulletShares 2031 Municipal Bond ETF) are both exchange-traded funds - PIT is a Commodities fund actively managed by VanEck, while BSMV is a Municipal Bonds fund tracking the Invesco BulletShares Municipal Bond 2031 Index. PIT is actively managed, while BSMV is passively managed. Over the past 3 years, PIT returned 20.29%/yr vs 2.65%/yr for BSMV. At a correlation of -0.07, they often move in opposite directions. PIT charges 0.55%/yr vs 0.18%/yr for BSMV.

Performance

PIT vs. BSMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Commodity Strategy ETF (PIT) and Invesco BulletShares 2031 Municipal Bond ETF (BSMV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PIT achieves a 35.60% return, which is significantly higher than BSMV's 0.59% return.

PIT

• 1D: 1.69%
• 1M: 2.36%
• 6M: 27.77%
• YTD: 35.60%
• 1Y: 48.66%
• 3Y*: 20.29%
• 5Y*: —
• 10Y*: —

BSMV

• 1D: 0.09%
• 1M: 0.03%
• 6M: 0.16%
• YTD: 0.59%
• 1Y: 4.19%
• 3Y*: 2.65%
• 5Y*: —
• 10Y*: —

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

PIT vs. BSMV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PIT VanEck Commodity Strategy ETF	35.60%	21.63%	6.77%	-4.54%	1.67%
BSMV Invesco BulletShares 2031 Municipal Bond ETF	0.59%	4.03%	-0.28%	6.99%	-0.38%

Correlation

The correlation between PIT and BSMV is -0.23, 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 (1Y) Calculated over the trailing 1-year period	-0.23
Correlation (3Y) Calculated over the trailing 3-year period	-0.10
Correlation (All Time) Calculated using the full available price history since Dec 22, 2022	-0.07

The correlation between PIT and BSMV shifts across timeframes, from -0.23 (1 year) to -0.07 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PIT vs. BSMV — Risk / Return Rank

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

PIT

PIT Risk / Return Rank: 78
PIT Sharpe Ratio Rank: 87
PIT Sortino Ratio Rank: 80
PIT Omega Ratio Rank: 82
PIT Calmar Ratio Rank: 71
PIT Martin Ratio Rank: 69

BSMV

BSMV Risk / Return Rank: 56
BSMV Sharpe Ratio Rank: 67
BSMV Sortino Ratio Rank: 70
BSMV Omega Ratio Rank: 74
BSMV Calmar Ratio Rank: 36
BSMV Martin Ratio Rank: 35

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.

PIT vs. BSMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Commodity Strategy ETF (PIT) and Invesco BulletShares 2031 Municipal Bond ETF (BSMV). 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.

	PIT	BSMV	Difference
Sharpe ratio: Return per unit of total volatility	2.22	1.74	+0.48
Sortino ratio: Return per unit of downside risk	2.81	2.52	+0.29
Omega ratio: Gain probability vs. loss probability	1.39	1.35	+0.04
Calmar ratio: Return relative to maximum drawdown	2.84	1.51	+1.33
Martin ratio: Return relative to average drawdown	9.86	4.29	+5.56

PIT vs. BSMV - Sharpe Ratio Comparison

The current PIT Sharpe Ratio is 2.22, which is comparable to the BSMV Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of PIT and BSMV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PIT vs. BSMV - Drawdown Comparison

The maximum PIT drawdown since its inception was -17.20%, smaller than the maximum BSMV drawdown of -20.68%. Use the drawdown chart below to compare losses from any high point for PIT and BSMV.

Drawdown Indicators

	PIT	BSMV	Difference
Max Drawdown Largest peak-to-trough decline	-17.20%	-20.68%	+3.48%
Max Drawdown (1Y) Largest decline over 1 year	-17.20%	-2.79%	-14.41%
Max Drawdown (3Y) Largest decline over 3 years	-17.20%	-6.63%	-10.57%
Current Drawdown Current decline from peak	-8.45%	-5.51%	-2.94%
Average Drawdown Average peak-to-trough decline	-4.24%	-10.32%	+6.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.95%	0.98%	+3.97%

Volatility

PIT vs. BSMV - Volatility Comparison

VanEck Commodity Strategy ETF (PIT) has a higher volatility of 6.74% compared to Invesco BulletShares 2031 Municipal Bond ETF (BSMV) at 0.63%. This indicates that PIT's price experiences larger fluctuations and is considered to be riskier than BSMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PIT	BSMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.74%	0.63%	+6.11%
Volatility (6M) Calculated over the trailing 6-month period	19.80%	1.85%	+17.95%
Volatility (1Y) Calculated over the trailing 1-year period	22.04%	2.43%	+19.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.65%	5.63%	+12.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.65%	5.63%	+12.02%

PIT vs. BSMV - Expense Ratio Comparison

PIT has a 0.55% expense ratio, which is higher than BSMV's 0.18% expense ratio.

Dividends

PIT vs. BSMV - Dividend Comparison

PIT's dividend yield for the trailing twelve months is around 6.57%, more than BSMV's 2.90% yield.

Position	TTM	2025	2024	2023	2022	2021
BSMV Invesco BulletShares 2031 Municipal Bond ETF	2.90%	2.93%	3.10%	2.59%	2.21%	0.24%
PIT VanEck Commodity Strategy ETF	6.57%	8.92%	3.59%	6.44%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PIT and BSMV in my portfolio?

PIT and BSMV have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PIT or BSMV?

PIT has higher volatility (6.74%) compared to BSMV (0.63%). In terms of maximum drawdown, PIT dropped -17.20% vs BSMV's -20.68%.

Which ETF is better, PIT or BSMV?

On 3-year performance, PIT leads with 20.29% vs 2.65% for BSMV. On fees, BSMV is cheaper at 0.18% per year. On volatility, BSMV has been the lower-risk option at 0.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PIT or BSMV?

Over the 3-year period, PIT has performed better with a 20.29% return vs 2.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PIT or BSMV?

BSMV is cheaper with a 0.18% expense ratio, compared with 0.55% for PIT.

Which ETF pays a higher dividend yield, PIT or BSMV?

PIT has the higher dividend yield at 6.57%, compared with 2.90% for BSMV.

What is the main difference between PIT and BSMV?

PIT is categorized as Commodities, while BSMV is Municipal Bonds. They also come from different issuers: VanEck and Invesco. Their fees differ too: 0.55% for PIT and 0.18% for BSMV.

Which has better risk-adjusted returns?

PIT currently has the higher Sharpe Ratio (2.22 vs 1.74), 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.