BSMRvsTAFLETF Comparison
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Invesco BulletShares 2027 Municipal Bond ETF (BSMR) and AB Tax-Aware Long Municipal ETF (TAFL) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. BSMR is less expensive with a Total Expense Ratio (TER) of 0.18%, versus 0.28% for TAFL. BSMR is down -0.25% year-to-date (YTD) with +$57M in YTD flows. TAFL performs better with 0.3% YTD performance, and +$21M in YTD flows. Run a side-by-side ETF comparison of BSMR and TAFL 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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BSMR vs TAFL performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/03/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | BSMR TAFL | -0.15%-1.02% | -0.20%-1.80% | -0.25%+0.30% | +0.96%+5.64% | +7.88%n/a | -0.11%n/a |
| Flows | BSMR TAFL | +$12M+$7M | +$16M+$11M | +$57M+$21M | +$90M+$39M | +$266M- | +$341M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | BSMR TAFL | +0.79%+2.88% | +0.80%+3.16% | +1.86%n/a | +2.36%n/a |
| Max drawdown | BSMR TAFL | -0.51%-2.76% | -1.02%-2.78% | -2.56%n/a | -12.17%n/a |
| Max drawdown duration | BSMR TAFL | 51d58d | 193d103d | 72dn/a | 1555dn/a |
Trading data
BSMR | TAFL | |
Last sale 9/3/2026 at 7:59 PM | $23.57 | $24.32 |
| Previous close 09/03/2026 | $23.57 | $24.42 |
| Consolidated volume 09/03/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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TAFL
is actively managed and doesn’t replicate an indexBSMR | TAFL | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/3/2026 at 7:59 PM
Live
Closed
BSMR | TAFL | |
|---|---|---|
| Last price | $23.57 | $24.32 |
| 1D performance | +0.01% | -0.43% |
| AuM | $357.34 M | $67.02 M |
| E/R | 0.18% | 0.28% |
Characteristics
BSMR | TAFL | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Invesco | AllianceBernstein |
| Benchmark | Invesco BulletShares USD Municipal Bond 2027 Index | - |
| N° of holdings | 1293 | 64 |
| Asset class | Fixed Income | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 13, 2019 | December 13, 2023 |
| ESG | No | No |
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Exposure
Countries
BSMR
USA
64.54%
Other
35.46%
TAFL
USA
63.23%
Other
36.77%
Sectors
BSMR
Municipal
64.54%
Other
35.46%
TAFL
Municipal
63.23%
Other
36.77%
Diversification
BSMR
Total weight of top 15 holdings out of 15
4.31%
TAFL
Total weight of top 15 holdings out of 15
29.64%
Top 15 holdings
Data as of July 31, 2026
BSMR
Hudson Yards Infrastructure Corp., 5% 15feb2042, USD
0.54%
Illinois, 5% 1nov2029, USD (2017C)
0.46%
New Jersey, 5% 1jun2027, USD
0.31%
New York Transitional Finance Authority, 5% 1feb2039, USD
0.30%
New York Municipal Water Finance Authority, 5% 15jun2040, USD
0.30%
County of Clark (NV), 5% 1jun2030, USD
0.29%
Hudson Yards Infrastructure Corp., 5% 15feb2039, USD
0.29%
California Health Facilities Financing Authority, 5% 1nov2027, USD (2017A)
0.25%
Texas Water Development Board, 5% 15oct2047, USD (2017A)
0.24%
Houston Combined Utility System, 5% 15nov2042, USD (2017B)
0.24%
New York Municipal Water Finance Authority, 5% 15jun2040, USD
0.23%
California, 5% 1dec2027, USD
0.23%
US64990CJK80
0.21%
Illinois, 5% 1nov2027, USD (2017D)
0.21%
US574218V676
0.21%
TAFL
Wisconsin Public Finance Authority, 5.75% 31dec2065, USD (2025)
2.68%
Chicago, 5.25% 1nov2061, USD (2026A)
2.60%
West Linn-Wilsonville School District №3JT, 5% 15jun2046, USD (2026B)
2.23%
New York Dormitory Authority, 5% 15mar2055, USD (2025C)
2.07%
South Carolina Public Service Authority, 5.25% 1dec2054, USD (2024)
2.03%
US812643C776
1.97%
US494791UA28
1.84%
US59333P7M43
1.81%
California Community Choice Financing Authority, 5% 1feb2055, USD (2024D)
1.79%
Cuyahoga, 5.5% 1dec2061, USD (2026)
1.79%
Denver Airport System, 5% 15nov2036, USD (2022A)
1.78%
Massachusetts Development Finance Agency, 5.5% 1dec2056, USD
1.77%
US79766DTP41
1.76%
US576000E334
1.76%
Houston Convention and Entertainment Facilities Department, 5.5% 1sep2058, USD (2026C)
1.76%
Frequently asked questions about BSMR and TAFL
How have the BSMR and TAFL ETFs performed in 2026?
As of September 3, 2026, BSMR is down -0.25% year-to-date (YTD), while TAFL has returned 0.3%. That puts TAFL better performer ahead so far this year.
Which ETF is attracting more investor money: BSMR or TAFL?
Year-to-date, the BSMR ETF saw +$57M in flows, compared to +$21M for TAFL.
Which ETF is more volatile: BSMR or TAFL?
Over the past year, BSMR had a volatility of 0.8%, while TAFL experienced 3.16%.
Which ETF is bigger: BSMR or TAFL?
As of September 3, 2026, BSMR holds $357.34 M in assets under management (AUM), while TAFL manages $67.02 M.
What sectors do the BSMR and TAFL ETFs invest in?
BSMR leans toward sectors like Municipal. Meanwhile, TAFL focuses on Municipal.
What are the top holdings of the BSMR ETF and TAFL ETF?
BSMR top holdings include Hudson Yards Infrastructure Corp., 5% 15feb2042, USD, Illinois, 5% 1nov2029, USD (2017C) and New Jersey, 5% 1jun2027, USD. TAFL holds in its top three: Wisconsin Public Finance Authority, 5.75% 31dec2065, USD (2025), Chicago, 5.25% 1nov2061, USD (2026A) and West Linn-Wilsonville School District №3JT, 5% 15jun2046, USD (2026B).
Which ETF is more diversified: BSMR or TAFL?
BSMR holds 2495 securities with 4.31% of its assets in the top 15. TAFL has 119 securities and a top 15 weight of 29.64%.
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