BSMSvsBSMRETF Comparison
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Invesco BulletShares 2028 Municipal Bond ETF (BSMS) and Invesco BulletShares 2027 Municipal Bond ETF (BSMR) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. Both BSMS and BSMR have the same Total Expense Ratio (TER) of 0.18%. BSMS is down -1.08% year-to-date (YTD) with +$98M in YTD flows. BSMR performs better with -0.53% YTD performance, and +$68M in YTD flows. Run a side-by-side ETF comparison of BSMS and BSMR 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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BSMS vs BSMR performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/15/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | BSMS BSMR | -0.18%+0.00% | -1.29%-0.78% | -1.08%-0.53% | -0.49%+0.06% | +9.52%+9.37% | -1.26%+0.34% |
| Flows | BSMS BSMR | +$14M+$9M | +$37M+$26M | +$98M+$68M | +$117M+$92M | +$275M+$276M | +$330M+$353M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | BSMS BSMR | +2.61%+1.84% | +1.58%+1.14% | +2.28%+1.81% | +2.93%+2.38% |
| Max drawdown | BSMS BSMR | -2.79%-1.86% | -3.43%-2.18% | -3.43%-2.18% | -14.28%-12.04% |
| Max drawdown duration | BSMS BSMR | 92d92d | 235d235d | 235d235d | 1747d1440d |
Trading data
BSMS | BSMR | |
Last sale 10/16/2026 at 3:47 PM | $23.08 | $23.38 |
| Previous close 10/15/2026 | $23.08 | $23.33 |
| Consolidated volume 10/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 16, 2026
1-year trailing difference
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BSMS | BSMR | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/16/2026 at 3:47 PM
Live
Closed
BSMS | BSMR | |
|---|---|---|
| Last price | $23.08 | $23.38 |
| 1D performance | -0.00% | +0.19% |
| AuM | $342.68 M | $367.20 M |
| E/R | 0.18% | 0.18% |
Characteristics
BSMS | BSMR | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Invesco | Invesco |
| Benchmark | ICE BulletShares USD Municipal Bond 2028 Index | ICE BulletShares USD Municipal Bond 2027 Index |
| N° of holdings | 1194 | 1347 |
| Asset class | Fixed Income | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 13, 2019 | September 13, 2019 |
| ESG | No | No |
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Exposure
Countries
BSMS
USA
63.9%
Other
36.1%
BSMR
USA
63.19%
Other
36.81%
Sectors
BSMS
Municipal
63.9%
Other
36.1%
BSMR
Municipal
63.19%
Other
36.81%
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Diversification
BSMS
Total weight of top 15 holdings out of 15
4.82%
BSMR
Total weight of top 15 holdings out of 15
4.06%
Top 15 holdings
Data as of August 31, 2026
BSMS
Illinois, 5% 1nov2028, USD (2017D)
0.49%
Triborough Bridge and Tunnel Authority, 5% 1feb2028, USD (2025A)
0.48%
Texas Water Development Board, 5% 15apr2049, USD (2018B)
0.48%
North Texas Tollway Authority, 5% 1jan2043, USD (2017A)
0.39%
New Jersey, 5% 1jun2028, USD
0.38%
Los Angeles Department of Water and Power, 5% 1jul2028, USD (2025)
0.34%
Triborough Bridge and Tunnel Authority, 5% 1mar2028, USD (2025A)
0.30%
Los Angeles Unified School District, 5.25% 1jul2042, USD
0.29%
Los Angeles Metropolitan Transportation Authority, 5% 1jul2044, USD (2019-A)
0.28%
County of Clark (NV), 5% 1may2048, USD
0.25%
Grand Parkway Transportation Corp., 5% 1oct2048, USD (2018A)
0.24%
New Jersey Economic Development Authority, 5% 1mar2028, USD (2023)
0.23%
Grand Parkway Transportation Corp., 5% 1oct2043, USD (2018A)
0.23%
Las Vegas Convention and Visitors Authority, 5% 1jul2043, USD
0.22%
New York Dormitory Authority, 5% 15mar2048, USD (2018)
0.22%
BSMR
Illinois, 5% 1nov2029, USD (2017C)
0.48%
Illinois, 5% 1nov2027, USD (2017D)
0.46%
Hudson Yards Infrastructure Corp., 5% 15feb2042, USD
0.34%
California Health Facilities Financing Authority, 5% 1nov2027, USD (2017A)
0.33%
New Jersey, 5% 1jun2027, USD
0.30%
New York Municipal Water Finance Authority, 5% 15jun2040, USD
0.29%
Texas Water Development Board, 5% 15oct2047, USD (2017A)
0.24%
Houston Combined Utility System, 5% 15nov2042, USD (2017B)
0.23%
New York Municipal Water Finance Authority, 5% 15jun2040, USD
0.22%
US64990CJK80
0.20%
US574218V676
0.20%
US494619ER60
0.20%
Pennsylvania Turnpike Commission, 5% 1dec2040, USD (2017)
0.19%
Geisinger Authority Health System, 5% 15feb2045, USD (2017A-1)
0.19%
Oklahoma Turnpike Authority, 4% 1jan2042, USD (2017C)
0.19%
Frequently asked questions about BSMS and BSMR
How have the BSMS and BSMR ETFs performed in 2026?
As of October 15, 2026, BSMS is down -1.08% year-to-date (YTD), while BSMR has lost -0.53%. That puts BSMR better performer ahead so far this year.
Which ETF is attracting more investor money: BSMS or BSMR?
Year-to-date, the BSMS ETF saw +$98M in flows, compared to +$68M for BSMR.
Which ETF is more volatile: BSMS or BSMR?
Over the past year, BSMS had a volatility of 1.58%, while BSMR experienced 1.14%.
Which ETF is bigger: BSMS or BSMR?
As of October 15, 2026, BSMS holds $342.68 M in assets under management (AUM), while BSMR manages $367.20 M.
What sectors do the BSMS and BSMR ETFs invest in?
BSMS leans toward sectors like Municipal. Meanwhile, BSMR focuses on Municipal.
What are the top holdings of the BSMS ETF and BSMR ETF?
BSMS top holdings include Illinois, 5% 1nov2028, USD (2017D), Triborough Bridge and Tunnel Authority, 5% 1feb2028, USD (2025A) and Texas Water Development Board, 5% 15apr2049, USD (2018B). BSMR holds in its top three: Illinois, 5% 1nov2029, USD (2017C), Illinois, 5% 1nov2027, USD (2017D) and Hudson Yards Infrastructure Corp., 5% 15feb2042, USD.
Which ETF is more diversified: BSMS or BSMR?
BSMS holds 2335 securities with 4.82% of its assets in the top 15. BSMR has 2631 securities and a top 15 weight of 4.06%.
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