BSMWvsCATFETF Comparison
VS
Invesco BulletShares 2032 Municipal Bond ETF (BSMW) and American Century California Municipal Bond ETF (CATF) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. BSMW is less expensive with a Total Expense Ratio (TER) of 0.18%, versus 0.25% for CATF. BSMW is down -0.54% year-to-date (YTD) with +$73M in YTD flows. CATF performs better with -0.06% YTD performance, and +$25M in YTD flows. Run a side-by-side ETF comparison of BSMW and CATF 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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BSMW vs CATF performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/01/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | BSMW CATF | -0.61%-0.64% | -1.46%-1.59% | -0.54%-0.06% | +3.37%+4.40% | +8.76%n/a | n/an/a |
| Flows | BSMW CATF | +$5M+$2M | +$17M+$7M | +$73M+$25M | +$103M+$33M | +$200M- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | BSMW CATF | +2.39%+2.67% | +2.35%+2.53% | +4.11%n/a | n/an/a |
| Max drawdown | BSMW CATF | -2.12%-2.39% | -2.84%-2.58% | -6.05%n/a | n/an/a |
| Max drawdown duration | BSMW CATF | 57d57d | 184d116d | 278dn/a | n/an/a |
Trading data
BSMW | CATF | |
Last sale 9/2/2026 at 1:30 PM | $24.45 | $48.98 |
| Previous close 09/01/2026 | $24.50 | $49.04 |
| Consolidated volume 09/01/2026 | ||
| 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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CATF
is actively managed and doesn’t replicate an indexBSMW | CATF | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/2/2026 at 1:30 PM
Live
Closed
BSMW | CATF | |
|---|---|---|
| Last price | $24.45 | $48.98 |
| 1D performance | -0.20% | -0.14% |
| AuM | $214.88 M | $83.15 M |
| E/R | 0.18% | 0.25% |
Characteristics
BSMW | CATF | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Invesco | American Century Investments |
| Benchmark | Invesco BulletShares USD Municipal Bond 2032 Index | - |
| N° of holdings | 602 | 107 |
| Asset class | Fixed Income | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | March 1, 2023 | July 18, 2024 |
| ESG | No | No |
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Exposure
Countries
BSMW
USA
41%
Other
59%
CATF
USA
39.99%
Other
60.01%
Sectors
BSMW
Municipal
41%
Other
59%
CATF
Municipal
39.99%
Other
60.01%
Diversification
BSMW
Total weight of top 15 holdings out of 15
5.34%
CATF
Total weight of top 15 holdings out of 15
12.56%
Top 15 holdings
Data as of July 31, 2026
BSMW
University of California Medical Center, 5% 15may2047, USD (2022)
0.53%
New York Municipal Water Finance Authority, 5.25% 15jun2052, USD (2023)
0.51%
US46246SAU96
0.42%
University of California, 5% 15may2032, USD (2022)
0.42%
University of California, 5% 15may2052, USD (2022)
0.39%
New York Dormitory Authority, 5% 1may2052, USD (2022A)
0.36%
New Jersey, 4% 1jun2032, USD
0.36%
Los Angeles Unified School District, 5% 1jul2032, USD (2024)
0.32%
US64613CEJ36
0.30%
Tarrant Cultural Education Facilities Finance Corp., 5% 15nov2051, USD (2022D)
0.30%
New York Transitional Finance Authority, 5% 1feb2047, USD
0.29%
US13063DT817
0.29%
US01728VWU06
0.29%
New York Municipal Water Finance Authority, 5% 15jun2047, USD
0.29%
Illinois Finance Authority, 5% 15aug2047, USD (2022A)
0.29%
CATF
California, 3.5% 1dec2030, USD
1.46%
Riverside Transportation Commission, 4% 1jun2046, USD
0.95%
California, 4% 1sep2043, USD
0.90%
US684133KT71
0.90%
US13032UN611
0.88%
East AWP Joint Powers Authority, 3.125% 1sep2026, USD (2024A)
0.85%
Puerto Rico Sales Tax Financing Corp., 4.329% 1jul2040, USD
0.84%
California Community Choice Financing Authority, 5.25% 1feb2036, USD (2026C)
0.79%
US13048VV394
0.75%
US13032UX453
0.73%
California Community Choice Financing Authority, 5% 1aug2055, USD (2024C)
0.73%
Desert Community College District, 5% 1aug2051, USD (2016)
0.71%
US544647JV34
0.69%
California Public Works Board, 5% 1sep2033, USD (2024)
0.69%
California Community Choice Financing Authority, 5% 1oct2034, USD (2026G)
0.69%
Frequently asked questions about BSMW and CATF
How have the BSMW and CATF ETFs performed in 2026?
As of September 1, 2026, BSMW is down -0.54% year-to-date (YTD), while CATF has lost -0.06%. That puts CATF better performer ahead so far this year.
Which ETF is attracting more investor money: BSMW or CATF?
Year-to-date, the BSMW ETF saw +$73M in flows, compared to +$25M for CATF.
Which ETF is more volatile: BSMW or CATF?
Over the past year, BSMW had a volatility of 2.35%, while CATF experienced 2.53%.
Which ETF is bigger: BSMW or CATF?
As of September 1, 2026, BSMW holds $214.88 M in assets under management (AUM), while CATF manages $83.15 M.
What sectors do the BSMW and CATF ETFs invest in?
BSMW leans toward sectors like Municipal. Meanwhile, CATF focuses on Municipal.
What are the top holdings of the BSMW ETF and CATF ETF?
BSMW top holdings include University of California Medical Center, 5% 15may2047, USD (2022), New York Municipal Water Finance Authority, 5.25% 15jun2052, USD (2023) and US46246SAU96. CATF holds in its top three: California, 3.5% 1dec2030, USD, Riverside Transportation Commission, 4% 1jun2046, USD and California, 4% 1sep2043, USD.
Which ETF is more diversified: BSMW or CATF?
BSMW holds 1839 securities with 5.34% of its assets in the top 15. CATF has 303 securities and a top 15 weight of 12.56%.
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