RDIV vs. BSMW

Last updated Jun 4, 2026

RDIV (Invesco S&P Ultra Dividend Revenue ETF) and BSMW (Invesco BulletShares 2032 Municipal Bond ETF) are both exchange-traded funds - RDIV is a Mid Cap Value Equities fund tracking the S&P 900 Dividend Revenue-Weighted Index, while BSMW is a Municipal Bonds fund tracking the Invesco BulletShares USD Municipal Bond 2032 Index. Both are passively managed. Over the past 3 years, RDIV returned 19.26%/yr vs 3.20%/yr for BSMW. At a 0.04 correlation, their price movements are largely independent. RDIV charges 0.39%/yr vs 0.18%/yr for BSMW.

Performance

RDIV vs. BSMW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P Ultra Dividend Revenue ETF (RDIV) and Invesco BulletShares 2032 Municipal Bond ETF (BSMW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RDIV achieves a 11.95% return, which is significantly higher than BSMW's 1.30% return.

RDIV

• 1D: -1.30%
• 1M: 2.29%
• YTD: 11.95%
• 6M: 11.03%
• 1Y: 27.04%
• 3Y*: 19.26%
• 5Y*: 10.04%
• 10Y*: 10.95%

BSMW

• 1D: 0.11%
• 1M: 0.55%
• YTD: 1.30%
• 6M: 1.59%
• 1Y: 6.93%
• 3Y*: 3.20%
• 5Y*: —
• 10Y*: —

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

RDIV vs. BSMW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
RDIV Invesco S&P Ultra Dividend Revenue ETF	11.95%	12.36%	15.17%	2.79%
BSMW Invesco BulletShares 2032 Municipal Bond ETF	1.30%	3.42%	-0.35%	7.00%

Correlation

The correlation between RDIV and BSMW is -0.11, 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	-0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (All Time) Calculated using the full available price history since Mar 2, 2023	0.04

The correlation between RDIV and BSMW shifts across timeframes, from -0.11 (1 year) to 0.09 (3 years), reflecting how their relationship changes across market environments.

RDIV vs. BSMW - Sectors Allocation Comparison

Sectors	RDIV	BSMW
Energy	28.8%	-
Financial Services	18.0%	1.7%
Consumer Defensive	15.9%	-
Consumer Cyclical	9.5%	0.3%
Real Estate	8.0%	-
Healthcare	7.8%	-
Utilities	6.4%	-
Technology	5.1%	0.1%
Basic Materials	0.5%	-
Communication Services	-	-
Industrials	-	-

Return for Risk

RDIV vs. BSMW — Risk / Return Rank

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

RDIV

RDIV Risk / Return Rank: 71
RDIV Sharpe Ratio Rank: 60
RDIV Sortino Ratio Rank: 65
RDIV Omega Ratio Rank: 57
RDIV Calmar Ratio Rank: 90
RDIV Martin Ratio Rank: 81

BSMW

BSMW Risk / Return Rank: 67
BSMW Sharpe Ratio Rank: 78
BSMW Sortino Ratio Rank: 80
BSMW Omega Ratio Rank: 83
BSMW Calmar Ratio Rank: 49
BSMW Martin Ratio Rank: 46

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.

RDIV vs. BSMW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P Ultra Dividend Revenue ETF (RDIV) 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.

	RDIV	BSMW	Difference
Sharpe ratio: Return per unit of total volatility	2.06	2.48	-0.42
Sortino ratio: Return per unit of downside risk	3.07	3.56	-0.48
Omega ratio: Gain probability vs. loss probability	1.36	1.50	-0.14
Calmar ratio: Return relative to maximum drawdown	5.61	2.39	+3.22
Martin ratio: Return relative to average drawdown	16.50	7.53	+8.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RDIV vs. BSMW - Sharpe Ratio Comparison

The current RDIV Sharpe Ratio is 2.06, which is comparable to the BSMW Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of RDIV and BSMW, 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

	RDIV	BSMW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.06	2.48	-0.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.69	-0.15

Drawdowns

RDIV vs. BSMW - Drawdown Comparison

The maximum RDIV drawdown since its inception was -49.97%, which is greater than BSMW's maximum drawdown of -7.57%. Use the drawdown chart below to compare losses from any high point for RDIV and BSMW.

Drawdown Indicators

	RDIV	BSMW	Difference
Max Drawdown Largest peak-to-trough decline	-49.97%	-7.57%	-42.40%
Max Drawdown (1Y) Largest decline over 1 year	-4.84%	-2.92%	-1.92%
Max Drawdown (3Y) Largest decline over 3 years	-17.91%	-7.34%	-10.57%
Max Drawdown (5Y) Largest decline over 5 years	-24.89%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-49.97%	—	—
Current Drawdown Current decline from peak	-1.65%	-0.98%	-0.67%
Average Drawdown Average peak-to-trough decline	-5.86%	-1.72%	-4.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.65%	0.92%	+0.73%

Volatility

RDIV vs. BSMW - Volatility Comparison

Invesco S&P Ultra Dividend Revenue ETF (RDIV) has a higher volatility of 3.46% compared to Invesco BulletShares 2032 Municipal Bond ETF (BSMW) at 0.93%. This indicates that RDIV's price experiences larger fluctuations and is considered to be riskier than BSMW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RDIV	BSMW	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.46%	0.93%	+2.53%
Volatility (6M) Calculated over the trailing 6-month period	8.62%	1.98%	+6.64%
Volatility (1Y) Calculated over the trailing 1-year period	13.23%	2.82%	+10.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.53%	5.00%	+12.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.89%	5.00%	+16.89%

RDIV vs. BSMW - Expense Ratio Comparison

RDIV has a 0.39% expense ratio, which is higher than BSMW's 0.18% expense ratio.

Dividends

RDIV vs. BSMW - Dividend Comparison

RDIV's dividend yield for the trailing twelve months is around 3.66%, more than BSMW's 3.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BSMW Invesco BulletShares 2032 Municipal Bond ETF	3.20%	3.24%	3.48%	2.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RDIV Invesco S&P Ultra Dividend Revenue ETF	3.66%	3.94%	4.08%	3.93%	3.44%	3.31%	4.93%	3.84%	4.32%	4.26%	2.20%	4.49%

Frequently Asked Questions

Can I hold both RDIV and BSMW in my portfolio?

RDIV and BSMW have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RDIV or BSMW?

RDIV has higher volatility (3.46%) compared to BSMW (0.93%). In terms of maximum drawdown, RDIV dropped -49.97% vs BSMW's -7.57%.

Which ETF is better, RDIV or BSMW?

On 3-year performance, RDIV leads with 19.26% vs 3.20% for BSMW. On fees, BSMW is cheaper at 0.18% per year. On volatility, BSMW has been the lower-risk option at 0.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RDIV or BSMW?

Over the 3-year period, RDIV has performed better with a 19.26% return vs 3.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RDIV or BSMW?

BSMW is cheaper with a 0.18% expense ratio, compared with 0.39% for RDIV.

Which ETF pays a higher dividend yield, RDIV or BSMW?

RDIV has the higher dividend yield at 3.66%, compared with 3.20% for BSMW.

What is the main difference between RDIV and BSMW?

RDIV is categorized as Mid Cap Value Equities, while BSMW is Municipal Bonds. RDIV tracks S&P 900 Dividend Revenue-Weighted Index, while BSMW tracks Invesco BulletShares USD Municipal Bond 2032 Index. Their fees differ too: 0.39% for RDIV and 0.18% for BSMW.

Which has better risk-adjusted returns?

BSMW currently has the higher Sharpe Ratio (2.48 vs 2.06), 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.