BSMSvsVTECETF Comparison
VS
Invesco BulletShares 2028 Municipal Bond ETF (BSMS) 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. BSMS is more expensive with a Total Expense Ratio (TER) of 0.18%, versus 0.06% for VTEC. BSMS is down -1.1% year-to-date (YTD) with +$98M in YTD flows. VTEC performs worse with -2.37% YTD performance, and +$2.54B in YTD flows. Run a side-by-side ETF comparison of BSMS 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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BSMS vs VTEC performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | BSMS VTEC | -0.16%-0.33% | -1.24%-3.44% | -1.10%-2.37% | -0.57%-1.74% | +9.50%n/a | -1.27%n/a |
| Flows | BSMS VTEC | +$14M+$796M | +$37M+$1.28B | +$98M+$2.54B | +$117M+$2.89B | +$275M- | +$330M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | BSMS VTEC | +2.60%+4.94% | +1.58%+3.13% | +2.28%n/a | +2.93%n/a |
| Max drawdown | BSMS VTEC | -2.72%-5.76% | -3.43%-6.50% | -3.43%n/a | -14.28%n/a |
| Max drawdown duration | BSMS VTEC | 92d92d | 236d229d | 236dn/a | 1748dn/a |
Trading data
BSMS | VTEC | |
Last sale 10/16/2026 at 1:30 PM | $23.05 | $95.41 |
| Previous close 10/15/2026 | $23.08 | $95.36 |
| 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 September 30, 2026
1-year trailing difference
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BSMS | 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 10/16/2026 at 1:30 PM
Live
Closed
BSMS | VTEC | |
|---|---|---|
| Last price | $23.05 | $95.41 |
| 1D performance | -0.11% | +0.05% |
| AuM | $342.62 M | $4.15 B |
| E/R | 0.18% | 0.06% |
Characteristics
BSMS | VTEC | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Invesco | Vanguard |
| Benchmark | ICE BulletShares USD Municipal Bond 2028 Index | S&P California AMT-Free Municipal Bond Index |
| N° of holdings | 1194 | 1739 |
| 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
BSMS
USA
63.9%
Other
36.1%
VTEC
USA
60.82%
Other
39.18%
Sectors
BSMS
Municipal
63.9%
Other
36.1%
VTEC
Municipal
60.82%
Other
39.18%
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Diversification
BSMS
Total weight of top 15 holdings out of 15
4.82%
VTEC
Total weight of top 15 holdings out of 15
4.13%
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%
VTEC
University of California, FRN 15may2048, USD (2013)
0.52%
University of California, 5% 15may2036, USD (2025)
0.44%
Los Angeles Unified School District, 5% 1jul2034, USD (2024A)
0.33%
Bay Area Toll Authority, 5% 1apr2061, USD (2026)
0.31%
US072024YF30
0.29%
US91412HWB58
0.27%
US544647HQ66
0.23%
Foothill/Eastern Transportation Corridor Agency, 4% 15jan2046, USD (2021A)
0.23%
California Educational Facilities Authority, 5% 1oct2055, USD (2025A)
0.23%
University of California, 5% 15may2032, USD (2022)
0.23%
US13063EUR51
0.22%
US13063EUX20
0.22%
Irvine Ranch Water District, FRN 1oct2041, USD (2009A)
0.21%
Los Angeles Department of Water and Power, 5% 1jul2028, USD (2025)
0.21%
California, 5.25% 1aug2032, USD
0.20%
Frequently asked questions about BSMS and VTEC
How have the BSMS and VTEC ETFs performed in 2026?
As of October 16, 2026, BSMS is down -1.1% year-to-date (YTD), while VTEC has lost -2.37%. That puts BSMS better performer ahead so far this year.
Which ETF is attracting more investor money: BSMS or VTEC?
Year-to-date, the BSMS ETF saw +$98M in flows, compared to +$2.54B for VTEC.
Which ETF is more volatile: BSMS or VTEC?
Over the past year, BSMS had a volatility of 1.58%, while VTEC experienced 3.13%.
Which ETF is bigger: BSMS or VTEC?
As of October 16, 2026, BSMS holds $342.62 M in assets under management (AUM), while VTEC manages $4.15 B.
What sectors do the BSMS and VTEC ETFs invest in?
BSMS leans toward sectors like Municipal. Meanwhile, VTEC focuses on Municipal.
What are the top holdings of the BSMS ETF and VTEC 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). VTEC holds in its top three: University of California, FRN 15may2048, USD (2013), University of California, 5% 15may2036, USD (2025) and Los Angeles Unified School District, 5% 1jul2034, USD (2024A).
Which ETF is more diversified: BSMS or VTEC?
BSMS holds 2335 securities with 4.82% of its assets in the top 15. VTEC has 3916 securities and a top 15 weight of 4.13%.
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