BSMAvsVTEBETF Comparison
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Invesco BulletShares 2036 Municipal Bond ETF (BSMA) and Vanguard Tax-Exempt Bond Index ETF (VTEB) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. BSMA is more expensive with a Total Expense Ratio (TER) of 0.18%, versus 0.03% for VTEB. Run a side-by-side ETF comparison of BSMA and VTEB below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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BSMA vs VTEB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/30/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | BSMA VTEB | +5.05%+3.60% | n/a-0.76% | n/a-0.33% | n/a+0.08% | n/a+13.76% | n/a+3.15% |
| Flows | BSMA VTEB | +$12M+$4.02B | -+$7.94B | -+$11.83B | -+$13.16B | -+$24.73B | -+$40.97B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | BSMA VTEB | n/a+5.41% | n/a+3.46% | n/a+3.84% | n/a+3.84% |
| Max drawdown | BSMA VTEB | n/a-5.74% | n/a-6.63% | n/a-6.63% | n/a-12.41% |
| Max drawdown duration | BSMA VTEB | n/a78d | n/a116d | n/a116d | n/a1001d |
Trading data
BSMA | VTEB | |
Last sale 10/30/2026 at 1:30 PM | $25.51 | $48.88 |
| Previous close 10/29/2026 | $25.46 | $48.70 |
| Consolidated volume 10/29/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 30, 2026
1-year trailing difference
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BSMA | VTEB | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/30/2026 at 1:30 PM
Live
Closed
BSMA | VTEB | |
|---|---|---|
| Last price | $25.51 | $48.88 |
| 1D performance | +0.20% | +0.37% |
| AuM | $17.85 M | $53.24 B |
| E/R | 0.18% | 0.03% |
Characteristics
BSMA | VTEB | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Invesco | Vanguard |
| Benchmark | ICE BulletShares Municipal Bond 2036 Index | S&P National AMT-Free Municipal Bond Index |
| N° of holdings | 101 | 5265 |
| Asset class | - | Bonds |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 16, 2026 | August 21, 2015 |
| ESG | No | No |
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Exposure
Countries
BSMA
USA
52.32%
Other
47.68%
VTEB
USA
52.81%
Other
47.19%
Sectors
BSMA
Municipal
52.32%
Other
47.68%
VTEB
Municipal
52.81%
Other
47.19%
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Diversification
BSMA
Total weight of top 15 holdings out of 15
17.47%
VTEB
Total weight of top 15 holdings out of 15
1.61%
Top 15 holdings
Data as of September 30, 2026
BSMA
City of New York, 4% 1nov2021, USD (2005)
1.45%
Mountain View Capital Improvements Financing Authority, 5% 1may2056, USD (2026)
1.37%
New York Metropolitan Transportation Authority, 4% 15nov2036, USD (2016B)
1.26%
US650010DS70
1.25%
US79467BJS51
1.25%
US73358WJX39
1.25%
US64972JC224
1.15%
University of California, 5% 15may2036, USD (2025)
1.13%
US61371DBT00
1.08%
State of Washington, 5% 1feb2043, USD (2026C)
1.06%
Arizona Transportation Board, 5% 1jul2045, USD (2026)
1.06%
Black Belt Energy Gas District, 5% 1nov2036, USD (2026)
1.05%
City of Manchester (NH), 5.25% 1jul2056, USD (2026)
1.04%
US70914PF491
1.04%
New York Thruway Authority, 5% 15sep2045, USD (2026A)
1.04%
VTEB
US13063EUN48
0.15%
US13063EUP95
0.14%
New York Dormitory Authority, 5.5% 1jul2054, USD (2024A)
0.13%
Illinois, 5% 1nov2028, USD (2017D)
0.12%
Ohio State University, 5% 1jun2035, USD (2026)
0.12%
City of New York, 5% 1aug2034, USD (2026)
0.10%
US97705M2B09
0.10%
Wisconsin, 5% 1may2038, USD (2026)
0.10%
University of California, 5% 15may2036, USD (2025)
0.10%
Illinois Toll Highway Authority, 5% 1jan2045, USD
0.10%
Idaho, 4% 30jun2027, USD (2026)
0.10%
US902562ES27
0.09%
Dallas Independent School District, 5% 15feb2056, USD (2026B)
0.09%
California, 5.25% 1aug2032, USD
0.09%
US88283LLJ34
0.09%
Frequently asked questions about BSMA and VTEB
Which ETF is bigger: BSMA or VTEB?
As of October 30, 2026, BSMA holds $17.85 M in assets under management (AUM), while VTEB manages $53.24 B.
What sectors do the BSMA and VTEB ETFs invest in?
BSMA leans toward sectors like Municipal. Meanwhile, VTEB focuses on Municipal.
What are the top holdings of the BSMA ETF and VTEB ETF?
BSMA top holdings include City of New York, 4% 1nov2021, USD (2005), Mountain View Capital Improvements Financing Authority, 5% 1may2056, USD (2026) and New York Metropolitan Transportation Authority, 4% 15nov2036, USD (2016B). VTEB holds in its top three: US13063EUN48, US13063EUP95 and New York Dormitory Authority, 5.5% 1jul2054, USD (2024A).
Which ETF is more diversified: BSMA or VTEB?
BSMA holds 189 securities with 17.47% of its assets in the top 15. VTEB has 11154 securities and a top 15 weight of 1.61%.
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Latest news about BSMA & VTEB
The Weekly ETF Market Monitor (September 28-October 2, 2026)
October 2, 2026
VTEB
A Look at Vanguard's New Short-Term Tax-Exempt Bond ETF
April 21, 2023
VTEB
Vanguard plans to launch a new short-term municipal bond ETF in 2023
December 23, 2022
VTEB
Investing in Municipal Bond ETFs
October 24, 2022
VTEB
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