TMH vs. BSMT

Last updated Jun 4, 2026

TMH (Toyota Motor Corporation ADRhedged) and BSMT (Invesco BulletShares 2029 Municipal Bond ETF) are both exchange-traded funds - TMH is a Consumer Discretionary Equities fund tracking the Toyota Motor Corporation Local Shares Total Return, while BSMT is a Municipal Bonds fund tracking the Invesco BulletShares Municipal Bond 2029 Index. Both are passively managed. At a correlation of -0.40, they often move in opposite directions. TMH charges 0.19%/yr vs 0.18%/yr for BSMT.

Performance

TMH vs. BSMT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Toyota Motor Corporation ADRhedged (TMH) and Invesco BulletShares 2029 Municipal Bond ETF (BSMT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TMH

• 1D: -0.03%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BSMT

• 1D: -0.04%
• 1M: 0.44%
• YTD: 0.98%
• 6M: 1.37%
• 1Y: 5.29%
• 3Y*: 3.19%
• 5Y*: -0.12%
• 10Y*: —

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

TMH vs. BSMT - Yearly Performance Comparison

	2026 (YTD)
TMH Toyota Motor Corporation ADRhedged	-5.59%
BSMT Invesco BulletShares 2029 Municipal Bond ETF	0.28%

Correlation

The correlation between TMH and BSMT is -0.40, 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 May 29, 2026	-0.40

Return for Risk

TMH vs. BSMT — Risk / Return Rank

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

BSMT

BSMT Risk / Return Rank: 80
BSMT Sharpe Ratio Rank: 87
BSMT Sortino Ratio Rank: 93
BSMT Omega Ratio Rank: 93
BSMT Calmar Ratio Rank: 67
BSMT Martin Ratio Rank: 61

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.

TMH vs. BSMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Toyota Motor Corporation ADRhedged (TMH) and Invesco BulletShares 2029 Municipal Bond ETF (BSMT). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TMH	BSMT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.87	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.03	—
Sharpe Ratio (All Time) Calculated using the full available price history	-5.39	0.15	-5.54

Drawdowns

TMH vs. BSMT - Drawdown Comparison

The maximum TMH drawdown since its inception was -5.59%, smaller than the maximum BSMT drawdown of -16.20%. Use the drawdown chart below to compare losses from any high point for TMH and BSMT.

Drawdown Indicators

	TMH	BSMT	Difference
Max Drawdown Largest peak-to-trough decline	-5.59%	-16.20%	+10.61%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.60%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-4.79%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-16.20%	—
Current Drawdown Current decline from peak	-5.59%	-2.05%	-3.54%
Average Drawdown Average peak-to-trough decline	-4.22%	-5.65%	+1.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.49%	—

Volatility

Volatility by Period

	TMH	BSMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.62%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.22%	—
Volatility (1Y) Calculated over the trailing 1-year period	20.85%	1.85%	+19.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.85%	4.25%	+16.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.85%	6.42%	+14.43%

TMH vs. BSMT - Expense Ratio Comparison

TMH has a 0.19% expense ratio, which is higher than BSMT'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

TMH vs. BSMT - Dividend Comparison

TMH has not paid dividends to shareholders, while BSMT's dividend yield for the trailing twelve months is around 2.74%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BSMT Invesco BulletShares 2029 Municipal Bond ETF	2.74%	2.78%	2.80%	2.62%	1.65%	1.31%	1.82%	0.48%
TMH Toyota Motor Corporation ADRhedged	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TMH and BSMT in my portfolio?

TMH and BSMT have a correlation of -0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TMH or BSMT?

On fees, BSMT is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TMH or BSMT?

BSMT is cheaper with a 0.18% expense ratio, compared with 0.19% for TMH.

Which ETF pays a higher dividend yield, TMH or BSMT?

BSMT has the higher dividend yield at 2.74%, compared with 0.00% for TMH.

What is the main difference between TMH and BSMT?

TMH is categorized as Consumer Discretionary Equities, while BSMT is Municipal Bonds. TMH tracks Toyota Motor Corporation Local Shares Total Return, while BSMT tracks Invesco BulletShares Municipal Bond 2029 Index. They also come from different issuers: ADRhedged and Invesco. Their fees differ too: 0.19% for TMH and 0.18% for BSMT.