BSMTvsPZAETF Comparison
VS
Invesco BulletShares 2029 Municipal Bond ETF (BSMT) and Invesco National AMT-Free Municipal Bond ETF (PZA) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. BSMT is less expensive with a Total Expense Ratio (TER) of 0.18%, versus 0.28% for PZA. BSMT is down -2.12% year-to-date (YTD) with +$71M in YTD flows. PZA performs worse with -5.77% YTD performance, and +$1.06B in YTD flows. Run a side-by-side ETF comparison of BSMT and PZA below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
Find out how industry players manage ETF portfolios. Discover our library of Model portfolios
BSMT vs PZA performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | BSMT PZA | -0.17%-0.78% | -1.99%-6.25% | -2.12%-5.77% | -1.57%-5.56% | +8.94%+6.07% | -3.78%-7.44% |
| Flows | BSMT PZA | +$11M-$21M | +$25M+$84M | +$71M+$1.06B | +$90M+$954M | +$255M+$2.07B | +$292M+$2.19B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | BSMT PZA | +3.24%+7.30% | +2.00%+4.68% | +2.81%+5.53% | +3.44%+5.45% |
| Max drawdown | BSMT PZA | -3.83%-8.91% | -5.02%-9.83% | -5.02%-9.83% | -16.14%-18.28% |
| Max drawdown duration | BSMT PZA | 92d92d | 236d229d | 236d229d | 1747d1747d |
Trading data
BSMT | PZA | |
Last sale 10/16/2026 at 1:30 PM | $22.54 | $21.64 |
| Previous close 10/15/2026 | $22.52 | $21.59 |
| 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 18, 2026
1-year trailing difference
Create an account to view replication metrics
Join for free
BSMT | PZA | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
Advertisement
Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
BSMT | PZA | |
|---|---|---|
| Last price | $22.54 | $21.64 |
| 1D performance | +0.09% | +0.23% |
| AuM | $299.23 M | $4.08 B |
| E/R | 0.18% | 0.28% |
Characteristics
BSMT | PZA | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Invesco | Invesco |
| Benchmark | ICE BulletShares USD Municipal Bond 2029 Index | ICE BofA National Long-Term Core Plus Municipal Securities Index |
| N° of holdings | 1088 | 3395 |
| Asset class | Fixed Income | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 13, 2019 | October 11, 2007 |
| ESG | No | No |
Advertisement
Exposure
Countries
BSMT
USA
64%
Other
36%
PZA
USA
59.27%
Other
40.73%
Sectors
BSMT
Municipal
64%
Other
36%
PZA
Municipal
59.27%
Other
40.73%
Advertisement
Diversification
BSMT
Total weight of top 15 holdings out of 15
5.27%
PZA
Total weight of top 15 holdings out of 15
1.51%
Top 15 holdings
Data as of August 31, 2026
BSMT
Triborough Bridge and Tunnel Authority, 5% 1feb2029, USD (2026A2)
0.51%
US89602HJB42
0.51%
New Jersey, 5% 1jun2029, USD
0.49%
US43233KAG94
0.40%
Harris Cultural Education Facilities Finance Corp., 5% 1dec2029, USD (2026A)
0.39%
US19648FXR09
0.36%
Ohio Water Development Authority, 5% 1jun2029, USD (2019A)
0.31%
US544647HL79
0.31%
US13034A5B23
0.31%
New York Municipal Water Finance Authority, 5% 15jun2040, USD
0.30%
New Jersey Turnpike Authority, 5% 1jan2048, USD
0.30%
Lancaster Hospital Authority, 5% 1nov2051, USD (2021)
0.28%
Pennsylvania Turnpike Commission, 5% 1dec2044, USD
0.28%
US91412HTF00
0.27%
Massachusetts School Building Authority, 5% 15feb2044, USD
0.26%
PZA
California Health Facilities Financing Authority, 4% 1nov2044, USD
0.13%
New York Dormitory Authority, 5.5% 1jul2054, USD (2024A)
0.12%
New York Dormitory Authority, 4% 15feb2047, USD (2019D)
0.10%
County of Jefferson (AL), 5.5% 1oct2053, USD (2024)
0.10%
California Health Facilities Financing Authority, 4% 15aug2048, USD (2021A)
0.10%
Salt River Project Agricultural Improvement and Power District, 5.25% 1jan2055, USD (2025)
0.10%
Triborough Bridge and Tunnel Authority, 5% 15may2051, USD (2021A)
0.10%
University of California Medical Center, 5% 15may2047, USD (2022)
0.10%
County of Jefferson (AL), 5.25% 1oct2049, USD (2024)
0.10%
Orange Health Facilities Authority, 5.25% 1oct2056, USD (2025A)
0.09%
US818200VF19
0.09%
US67756AH960
0.09%
US43233KAE47
0.09%
US160853VA29
0.09%
US6133408D38
0.09%
Frequently asked questions about BSMT and PZA
How have the BSMT and PZA ETFs performed in 2026?
As of October 16, 2026, BSMT is down -2.12% year-to-date (YTD), while PZA has lost -5.77%. That puts BSMT better performer ahead so far this year.
Which ETF is attracting more investor money: BSMT or PZA?
Year-to-date, the BSMT ETF saw +$71M in flows, compared to +$1.06B for PZA.
Which ETF is more volatile: BSMT or PZA?
Over the past year, BSMT had a volatility of 2%, while PZA experienced 4.68%.
Which ETF is bigger: BSMT or PZA?
As of October 16, 2026, BSMT holds $299.23 M in assets under management (AUM), while PZA manages $4.08 B.
What sectors do the BSMT and PZA ETFs invest in?
BSMT leans toward sectors like Municipal. Meanwhile, PZA focuses on Municipal.
What are the top holdings of the BSMT ETF and PZA ETF?
BSMT top holdings include Triborough Bridge and Tunnel Authority, 5% 1feb2029, USD (2026A2), US89602HJB42 and New Jersey, 5% 1jun2029, USD. PZA holds in its top three: California Health Facilities Financing Authority, 4% 1nov2044, USD, New York Dormitory Authority, 5.5% 1jul2054, USD (2024A) and New York Dormitory Authority, 4% 15feb2047, USD (2019D).
Which ETF is more diversified: BSMT or PZA?
BSMT holds 1992 securities with 5.27% of its assets in the top 15. PZA has 7121 securities and a top 15 weight of 1.51%.
Advertisement
Advertisement
