BSMRvsVTECETF Comparison
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Invesco BulletShares 2027 Municipal Bond ETF (BSMR) and Vanguard California Tax-Exempt Bond ETF (VTEC) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. BSMR is more expensive with a Total Expense Ratio (TER) of 0.18%, versus 0.06% for VTEC. BSMR is down -0.12% year-to-date (YTD) with +$57M in YTD flows. VTEC performs worse with -0.13% YTD performance, and +$1.61B in YTD flows. Run a side-by-side ETF comparison of BSMR and VTEC 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 VTEC performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 08/31/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | BSMR VTEC | +0.02%-0.16% | -0.00%-1.08% | -0.12%-0.13% | +1.14%+3.94% | +8.01%n/a | -0.03%n/a |
| Flows | BSMR VTEC | +$12M+$247M | +$16M+$726M | +$57M+$1.61B | +$90M+$2.08B | +$266M- | +$341M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | BSMR VTEC | +0.77%+2.43% | +0.80%+2.41% | +1.86%n/a | +2.35%n/a |
| Max drawdown | BSMR VTEC | -0.47%-1.93% | -1.02%-2.73% | -2.56%n/a | -12.17%n/a |
| Max drawdown duration | BSMR VTEC | 48d56d | 190d183d | 76dn/a | 1555dn/a |
Trading data
BSMR | VTEC | |
Last sale 9/1/2026 at 1:30 PM | $23.58 | $97.46 |
| Previous close 08/31/2026 | $23.59 | $98.13 |
| Consolidated volume 08/31/2026 | ||
| 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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BSMR | VTEC | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/1/2026 at 1:30 PM
Live
Closed
BSMR | VTEC | |
|---|---|---|
| Last price | $23.58 | $97.46 |
| 1D performance | -0.04% | -0.68% |
| AuM | $357.77 M | $3.31 B |
| E/R | 0.18% | 0.06% |
Characteristics
BSMR | VTEC | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Invesco | Vanguard |
| Benchmark | Invesco BulletShares USD Municipal Bond 2027 Index | S&P California AMT-Free Municipal Bond Index |
| N° of holdings | 1293 | 1775 |
| Asset class | Fixed Income | Bonds |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 13, 2019 | January 30, 2024 |
| ESG | No | No |
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Exposure
Countries
BSMR
USA
64.54%
Other
35.46%
VTEC
USA
64.08%
Other
35.92%
Sectors
BSMR
Municipal
64.54%
Other
35.46%
VTEC
Municipal
64.08%
Other
35.92%
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Diversification
BSMR
Total weight of top 15 holdings out of 15
4.31%
VTEC
Total weight of top 15 holdings out of 15
3.64%
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%
VTEC
University of California, 5% 15may2036, USD (2025)
0.48%
Bay Area Toll Authority, 5% 1apr2061, USD (2026)
0.34%
Los Angeles Unified School District, 5% 1jul2034, USD (2024A)
0.25%
US544647HQ66
0.25%
US91412HWB58
0.24%
Los Angeles Unified School District, 5% 1jul2032, USD (2024)
0.24%
University of California, 5% 15may2032, USD (2022)
0.22%
California Educational Facilities Authority, 5% 1oct2055, USD (2025A)
0.22%
Los Angeles Department of Water and Power, 5% 1jul2028, USD (2025)
0.22%
San Diego Community College District, 5% 1aug2031, USD
0.21%
US544647HM52
0.20%
Foothill/Eastern Transportation Corridor Agency, 4% 15jan2046, USD (2021A)
0.19%
California Educational Facilities Authority, 5% 1may2049, USD
0.19%
California, 5.25% 1aug2032, USD
0.19%
RIR Floater Trust, FRN 1aug2042, USD (2022-045)
0.19%
Frequently asked questions about BSMR and VTEC
How have the BSMR and VTEC ETFs performed in 2026?
As of August 31, 2026, BSMR is down -0.12% year-to-date (YTD), while VTEC has lost -0.13%. That puts BSMR better performer ahead so far this year.
Which ETF is attracting more investor money: BSMR or VTEC?
Year-to-date, the BSMR ETF saw +$57M in flows, compared to +$1.61B for VTEC.
Which ETF is more volatile: BSMR or VTEC?
Over the past year, BSMR had a volatility of 0.8%, while VTEC experienced 2.41%.
Which ETF is bigger: BSMR or VTEC?
As of August 31, 2026, BSMR holds $357.77 M in assets under management (AUM), while VTEC manages $3.31 B.
What sectors do the BSMR and VTEC ETFs invest in?
BSMR leans toward sectors like Municipal. Meanwhile, VTEC focuses on Municipal.
What are the top holdings of the BSMR ETF and VTEC ETF?
BSMR top holdings include Hudson Yards Infrastructure Corp., 5% 15feb2042, USD, Illinois, 5% 1nov2029, USD (2017C) and New Jersey, 5% 1jun2027, USD. VTEC holds in its top three: University of California, 5% 15may2036, USD (2025), Bay Area Toll Authority, 5% 1apr2061, USD (2026) and Los Angeles Unified School District, 5% 1jul2034, USD (2024A).
Which ETF is more diversified: BSMR or VTEC?
BSMR holds 2495 securities with 4.31% of its assets in the top 15. VTEC has 3925 securities and a top 15 weight of 3.64%.
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