BSMTvsCALIETF Comparison
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Invesco BulletShares 2029 Municipal Bond ETF (BSMT) and iShares Short-Term California Muni Active ETF (CALI) belong to the same industry segment: Municipal Bonds. BSMT's top 1 sector exposures are Municipal. In contrast, CALI's top sector exposures are Municipal and Non-Corporate. BSMT is less expensive with a Total Expense Ratio (TER) of 0.18%, versus 0.25% for CALI. BSMT is down -1.08% year-to-date (YTD) with +$60M in YTD flows. CALI performs better with 1.23% YTD performance, and +$282M in YTD flows. Run a side-by-side ETF comparison of BSMT and CALI 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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BSMT vs CALI performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/02/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | BSMT CALI | -0.35%+0.17% | -0.87%+0.32% | -1.08%+1.23% | +0.82%+2.05% | +7.49%+9.26% | -3.90%n/a |
| Flows | BSMT CALI | +$11M+$50M | +$23M+$133M | +$60M+$282M | +$92M+$348M | +$246M+$479M | +$280M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | BSMT CALI | +1.41%+0.52% | +1.44%+0.49% | +2.81%+0.70% | +3.39%n/a |
| Max drawdown | BSMT CALI | -1.20%-0.27% | -2.19%-0.47% | -3.52%-0.86% | -16.14%n/a |
| Max drawdown duration | BSMT CALI | 58d31d | 192d68d | 156d47d | 1703dn/a |
Trading data
BSMT | CALI | |
Last sale 9/3/2026 at 4:51 PM | $22.82 | $50.24 |
| Previous close 09/02/2026 | $22.83 | $50.23 |
| Consolidated volume 09/02/2026 | ||
| 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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CALI
is actively managed and doesn’t replicate an indexBSMT | CALI | |
|---|---|---|
| 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 4:51 PM
Live
Closed
BSMT | CALI | |
|---|---|---|
| Last price | $22.82 | $50.24 |
| 1D performance | -0.08% | +0.02% |
| AuM | $291.69 M | $494.72 M |
| E/R | 0.18% | 0.25% |
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Exposure
Countries
BSMT
USA
64.48%
Other
35.52%
CALI
USA
26.97%
Other
73.03%
Sectors
BSMT
Municipal
64.48%
Other
35.52%
CALI
Municipal
26.85%
Other
73.15%
Diversification
BSMT
Total weight of top 15 holdings out of 15
5.22%
CALI
Total weight of top 15 holdings out of 15
25.35%
Top 15 holdings
Data as of July 31, 2026
BSMT
Triborough Bridge and Tunnel Authority, 5% 1feb2029, USD (2026A2)
0.52%
New Jersey, 5% 1jun2029, USD
0.50%
US89602HJB42
0.48%
US43233KAG94
0.39%
US19648FXR09
0.34%
Ohio Water Development Authority, 5% 1jun2029, USD (2019A)
0.32%
Nashville and Davidson Health and Educational Facilities, 5% 1jul2029, USD (2024A)
0.32%
US544647HL79
0.32%
US13034A5B23
0.32%
New Jersey Turnpike Authority, 5% 1jan2048, USD
0.31%
Lancaster Hospital Authority, 5% 1nov2051, USD (2021)
0.29%
Pennsylvania Turnpike Commission, 5% 1dec2044, USD
0.29%
US91412HTF00
0.28%
New York Municipal Water Finance Authority, 5% 15jun2040, USD
0.28%
Illinois Toll Highway Authority, 5% 1jan2044, USD
0.26%
CALI
US607804AC55
2.58%
Orange Water District, FRN 1aug2042, USD (2003A)
2.51%
US13063BCS97
2.23%
US13034DAH70
1.83%
US91412GSH91
1.69%
US13032UJ338
1.64%
Northern California Energy Authority, 5% 1dec2054, USD (2024)
1.61%
US072024C592
1.57%
California Community Choice Financing Authority, 5% 1feb2031, USD (2026D)
1.56%
US13048RAN70
1.47%
US130536RN77
1.36%
US88035F7U81
1.36%
US072024ZH86
1.33%
US59266TXN61
1.33%
US13013JDB98
1.28%
Frequently asked questions about BSMT and CALI
How have the BSMT and CALI ETFs performed in 2026?
As of September 2, 2026, BSMT is down -1.08% year-to-date (YTD), while CALI has returned 1.23%. That puts CALI better performer ahead so far this year.
Which ETF is attracting more investor money: BSMT or CALI?
Year-to-date, the BSMT ETF saw +$60M in flows, compared to +$282M for CALI.
Which ETF is more volatile: BSMT or CALI?
Over the past year, BSMT had a volatility of 1.44%, while CALI experienced 0.49%.
Which ETF is bigger: BSMT or CALI?
As of September 2, 2026, BSMT holds $291.69 M in assets under management (AUM), while CALI manages $494.72 M.
What sectors do the BSMT and CALI ETFs invest in?
BSMT leans toward sectors like Municipal. Meanwhile, CALI focuses on Municipal.
What are the top holdings of the BSMT ETF and CALI ETF?
BSMT top holdings include Triborough Bridge and Tunnel Authority, 5% 1feb2029, USD (2026A2), New Jersey, 5% 1jun2029, USD and US89602HJB42. CALI holds in its top three: US607804AC55, Orange Water District, FRN 1aug2042, USD (2003A) and US13063BCS97.
Which ETF is more diversified: BSMT or CALI?
BSMT holds 1917 securities with 5.22% of its assets in the top 15. CALI has 198 securities and a top 15 weight of 25.35%.
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