TEXN vs. BSMW
TEXN (iShares Texas Equity ETF) and BSMW (Invesco BulletShares 2032 Municipal Bond ETF) are both exchange-traded funds - TEXN is a Large Cap Blend Equities fund tracking the Russell Texas Equity Index, while BSMW is a Municipal Bonds fund tracking the Invesco BulletShares USD Municipal Bond 2032 Index. Both are passively managed. Over the past year, TEXN returned 30.05% vs 6.18% for BSMW. At a correlation of -0.09, they often move in opposite directions. TEXN charges 0.20%/yr vs 0.18%/yr for BSMW.
Performance
TEXN vs. BSMW - Performance Comparison
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Returns By Period
In the year-to-date period, TEXN achieves a 20.05% return, which is significantly higher than BSMW's 1.38% return.
TEXN
- 1D
- -1.33%
- 1M
- -2.29%
- YTD
- 20.05%
- 6M
- 18.60%
- 1Y
- 30.05%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BSMW
- 1D
- -0.06%
- 1M
- 1.23%
- YTD
- 1.38%
- 6M
- 1.51%
- 1Y
- 6.18%
- 3Y*
- 2.88%
- 5Y*
- —
- 10Y*
- —
TEXN vs. BSMW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TEXN iShares Texas Equity ETF | 20.05% | 8.33% |
BSMW Invesco BulletShares 2032 Municipal Bond ETF | 1.38% | 4.74% |
Correlation
The correlation between TEXN and BSMW is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 24, 2025 | -0.09 |
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Return for Risk
TEXN vs. BSMW — Risk / Return Rank
TEXN
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BSMW
TEXN vs. BSMW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Texas Equity ETF (TEXN) 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.
| TEXN | 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
TEXN vs. BSMW - Drawdown Comparison
The maximum TEXN drawdown since its inception was -6.34%, smaller than the maximum BSMW drawdown of -7.57%. Use the drawdown chart below to compare losses from any high point for TEXN and BSMW.
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Drawdown Indicators
| TEXN | BSMW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.34% | -7.57% | +1.23% |
Max Drawdown (1Y)Largest decline over 1 year | -6.34% | -2.92% | -3.42% |
Max Drawdown (3Y)Largest decline over 3 years | — | -7.34% | — |
Current DrawdownCurrent decline from peak | -4.90% | -0.90% | -4.00% |
Average DrawdownAverage peak-to-trough decline | -1.24% | -1.71% | +0.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.95% | — |
Volatility
TEXN vs. BSMW - Volatility Comparison
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Volatility by Period
| TEXN | 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 | 14.50% | 2.68% | +11.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.50% | 4.96% | +9.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.50% | 4.96% | +9.54% |
TEXN vs. BSMW - Expense Ratio Comparison
TEXN has a 0.20% expense ratio, which is higher than BSMW's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
TEXN vs. BSMW - Dividend Comparison
TEXN's dividend yield for the trailing twelve months is around 1.40%, 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% |
TEXN iShares Texas Equity ETF | 1.40% | 0.86% | 0.00% | 0.00% |
Frequently Asked Questions
TEXN and BSMW have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On 1-year performance, TEXN leads with 30.05% vs 6.18% for BSMW. On fees, BSMW is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TEXN has performed better with a 30.05% return vs 6.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BSMW is cheaper with a 0.18% expense ratio, compared with 0.20% for TEXN.
BSMW has the higher dividend yield at 3.20%, compared with 1.40% for TEXN.
TEXN is categorized as Large Cap Blend Equities, while BSMW is Municipal Bonds. TEXN tracks Russell Texas Equity Index, while BSMW tracks Invesco BulletShares USD Municipal Bond 2032 Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.20% for TEXN and 0.18% for BSMW.
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