WTIP vs. BSMS

Last updated Jun 23, 2026

WTIP (WisdomTree Inflation Plus Fund) and BSMS (Invesco BulletShares 2028 Municipal Bond ETF) are both exchange-traded funds - WTIP is a Long-Short fund actively managed by WisdomTree, while BSMS is a Municipal Bonds fund tracking the Invesco BulletShares Municipal Bond 2028 Index. WTIP is actively managed, while BSMS is passively managed. Over the past year, WTIP returned 25.03% vs 4.06% for BSMS. At a correlation of -0.14, they often move in opposite directions. WTIP charges 0.65%/yr vs 0.18%/yr for BSMS.

Performance

WTIP vs. BSMS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Inflation Plus Fund (WTIP) and Invesco BulletShares 2028 Municipal Bond ETF (BSMS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WTIP achieves a 9.21% return, which is significantly higher than BSMS's 1.11% return.

WTIP

• 1D: -0.35%
• 1M: -6.37%
• YTD: 9.21%
• 6M: 8.54%
• 1Y: 25.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BSMS

• 1D: -0.04%
• 1M: 0.67%
• YTD: 1.11%
• 6M: 1.26%
• 1Y: 4.06%
• 3Y*: 2.90%
• 5Y*: 0.12%
• 10Y*: —

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

WTIP vs. BSMS - Yearly Performance Comparison

	2026 (YTD)	2025
WTIP WisdomTree Inflation Plus Fund	9.21%	13.49%
BSMS Invesco BulletShares 2028 Municipal Bond ETF	1.11%	2.97%

Correlation

The correlation between WTIP and BSMS is -0.14, 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	-0.14
Correlation (All Time) Calculated using the full available price history since Jun 18, 2025	-0.14

Return for Risk

WTIP vs. BSMS — Risk / Return Rank

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

WTIP

WTIP Risk / Return Rank: 44
WTIP Sharpe Ratio Rank: 44
WTIP Sortino Ratio Rank: 39
WTIP Omega Ratio Rank: 50
WTIP Calmar Ratio Rank: 41
WTIP Martin Ratio Rank: 46

BSMS

BSMS Risk / Return Rank: 82
BSMS Sharpe Ratio Rank: 86
BSMS Sortino Ratio Rank: 91
BSMS Omega Ratio Rank: 92
BSMS Calmar Ratio Rank: 78
BSMS Martin Ratio Rank: 63

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.

WTIP vs. BSMS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Inflation Plus Fund (WTIP) and Invesco BulletShares 2028 Municipal Bond ETF (BSMS). 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.

	WTIP	BSMS	Difference
Sharpe ratio: Return per unit of total volatility	1.49	2.69	-1.20
Sortino ratio: Return per unit of downside risk	1.93	4.16	-2.23
Omega ratio: Gain probability vs. loss probability	1.31	1.58	-0.28
Calmar ratio: Return relative to maximum drawdown	2.02	3.89	-1.88
Martin ratio: Return relative to average drawdown	7.58	10.99	-3.40

WTIP vs. BSMS - Sharpe Ratio Comparison

The current WTIP Sharpe Ratio is 1.49, which is lower than the BSMS Sharpe Ratio of 2.69. The chart below compares the historical Sharpe Ratios of WTIP and BSMS, 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

WTIP vs. BSMS - Drawdown Comparison

The maximum WTIP drawdown since its inception was -12.46%, smaller than the maximum BSMS drawdown of -14.95%. Use the drawdown chart below to compare losses from any high point for WTIP and BSMS.

Drawdown Indicators

	WTIP	BSMS	Difference
Max Drawdown Largest peak-to-trough decline	-12.46%	-14.95%	+2.49%
Max Drawdown (1Y) Largest decline over 1 year	-12.46%	-1.05%	-11.41%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.25%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-14.95%	—
Current Drawdown Current decline from peak	-12.46%	-0.81%	-11.65%
Average Drawdown Average peak-to-trough decline	-1.87%	-4.94%	+3.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.31%	0.37%	+2.94%

Volatility

WTIP vs. BSMS - Volatility Comparison

WisdomTree Inflation Plus Fund (WTIP) has a higher volatility of 9.81% compared to Invesco BulletShares 2028 Municipal Bond ETF (BSMS) at 0.51%. This indicates that WTIP's price experiences larger fluctuations and is considered to be riskier than BSMS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WTIP	BSMS	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.81%	0.51%	+9.30%
Volatility (6M) Calculated over the trailing 6-month period	15.69%	1.01%	+14.68%
Volatility (1Y) Calculated over the trailing 1-year period	16.95%	1.52%	+15.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.90%	3.59%	+13.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.90%	6.18%	+10.72%

WTIP vs. BSMS - Expense Ratio Comparison

WTIP has a 0.65% expense ratio, which is higher than BSMS's 0.18% expense ratio.

Dividends

WTIP vs. BSMS - Dividend Comparison

WTIP's dividend yield for the trailing twelve months is around 2.93%, less than BSMS's 3.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BSMS Invesco BulletShares 2028 Municipal Bond ETF	3.01%	2.79%	2.81%	2.58%	1.56%	1.49%	1.61%	0.46%
WTIP WisdomTree Inflation Plus Fund	2.93%	1.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WTIP and BSMS in my portfolio?

WTIP and BSMS have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WTIP or BSMS?

WTIP has higher volatility (9.81%) compared to BSMS (0.51%). In terms of maximum drawdown, WTIP dropped -12.46% vs BSMS's -14.95%.

Which ETF is better, WTIP or BSMS?

On 1-year performance, WTIP leads with 25.03% vs 4.06% for BSMS. On fees, BSMS is cheaper at 0.18% per year. On volatility, BSMS has been the lower-risk option at 0.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WTIP or BSMS?

Over the 1-year period, WTIP has performed better with a 25.03% return vs 4.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WTIP or BSMS?

BSMS is cheaper with a 0.18% expense ratio, compared with 0.65% for WTIP.

Which ETF pays a higher dividend yield, WTIP or BSMS?

BSMS has the higher dividend yield at 3.01%, compared with 2.93% for WTIP.

What is the main difference between WTIP and BSMS?

WTIP is categorized as Long-Short, while BSMS is Municipal Bonds. They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.65% for WTIP and 0.18% for BSMS.

Which has better risk-adjusted returns?

BSMS currently has the higher Sharpe Ratio (2.69 vs 1.49), 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.