BSMWvsFLMIETF Comparison
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Invesco BulletShares 2032 Municipal Bond ETF (BSMW) and Franklin Dynamic Municipal Bond ETF (FLMI) belong to the same industry segment: Municipal Bonds. BSMW's top 1 sector exposures are Municipal. In contrast, FLMI's top sector exposures are Municipal, Consumer Services and Healthcare. BSMW is less expensive with a Total Expense Ratio (TER) of 0.18%, versus 0.3% for FLMI. BSMW is down -2.1% year-to-date (YTD) with +$89M in YTD flows. FLMI performs worse with -4.5% YTD performance, and +$1.09B in YTD flows. Run a side-by-side ETF comparison of BSMW and FLMI 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 FLMI performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | BSMW FLMI | -0.09%-1.00% | -3.05%-5.20% | -2.10%-4.50% | -1.51%-4.32% | +10.84%+12.42% | n/a-1.40% |
| Flows | BSMW FLMI | +$17M-$38M | +$27M+$143M | +$89M+$1.09B | +$112M+$1.40B | +$207M+$2.28B | -+$2.36B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | BSMW FLMI | +4.97%+5.82% | +3.12%+3.69% | +4.15%+3.92% | n/a+3.82% |
| Max drawdown | BSMW FLMI | -5.60%-7.22% | -6.62%-8.90% | -6.62%-8.90% | n/a-16.26% |
| Max drawdown duration | BSMW FLMI | 92d92d | 229d229d | 229d229d | n/a1340d |
Trading data
BSMW | FLMI | |
Last sale 10/16/2026 at 1:30 PM | $24.03 | $23.62 |
| Previous close 10/15/2026 | $24.03 | $23.61 |
| 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
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FLMI
is actively managed and doesn’t replicate an indexBSMW | FLMI | |
|---|---|---|
| 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
BSMW | FLMI | |
|---|---|---|
| Last price | $24.03 | $23.62 |
| 1D performance | +0.00% | +0.04% |
| AuM | $227.69 M | $2.31 B |
| E/R | 0.18% | 0.3% |
Characteristics
BSMW | FLMI | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Invesco | Franklin Templeton |
| Benchmark | ICE BulletShares USD Municipal Bond 2032 Index | - |
| N° of holdings | 629 | 214 |
| Asset class | Fixed Income | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | March 1, 2023 | August 31, 2017 |
| ESG | No | No |
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Exposure
Countries
BSMW
USA
40.37%
Other
59.63%
FLMI
USA
38.36%
Other
61.64%
Sectors
BSMW
Municipal
40.37%
Other
59.63%
FLMI
Municipal
38.03%
Other
61.97%
Diversification
BSMW
Total weight of top 15 holdings out of 15
5.14%
FLMI
Total weight of top 15 holdings out of 15
19.5%
Top 15 holdings
Data as of August 31, 2026
BSMW
University of California Medical Center, 5% 15may2047, USD (2022)
0.51%
New York Municipal Water Finance Authority, 5.25% 15jun2052, USD (2023)
0.49%
US46246SAU96
0.42%
University of California, 5% 15may2032, USD (2022)
0.41%
University of California, 5% 15may2052, USD (2022)
0.38%
New York Dormitory Authority, 5% 1may2052, USD (2022A)
0.35%
Los Angeles Unified School District, 5% 1jul2032, USD (2024)
0.31%
New Jersey, 4% 1jun2032, USD
0.30%
Tarrant Cultural Education Facilities Finance Corp., 5% 15nov2051, USD (2022D)
0.29%
US13063DT817
0.29%
US89602HEY99
0.28%
US01728VWU06
0.28%
New York Transitional Finance Authority, 5% 1feb2047, USD
0.28%
New York Municipal Water Finance Authority, 5% 15jun2047, USD
0.28%
Triborough Bridge and Tunnel Authority, 5.25% 15may2052, USD (2022C)
0.28%
FLMI
Black Belt Energy Gas District, 5% 1oct2035, USD (2025)
2.08%
Southeast Energy Authority, 5% 1nov2035, USD (2024A)
1.67%
Kentucky Public Energy Authority, 5% 1may2036, USD (2025)
1.66%
Southeast Energy Authority, 5% 1jan2056, USD (2025A)
1.56%
California Community Choice Financing Authority, 5% 1mar2036, USD (2026B)
1.53%
Kentucky Public Energy Authority, 5% 1dec2033, USD (2025)
1.51%
US09182TGL52
1.44%
Kentucky Public Energy Authority, 5% 1jun2034, USD (2026)
1.33%
US592250EW01
1.21%
US771902HS55
1.09%
Texas Municipal Gas Acquisition and Supply Corp., 5% 1apr2036, USD (2026)
0.96%
US292723DZ39
0.93%
US717901CC45
0.89%
US60637AFM99
0.85%
Southeast Energy Authority, 5% 1nov2035, USD (2025H)
0.80%
Frequently asked questions about BSMW and FLMI
How have the BSMW and FLMI ETFs performed in 2026?
As of October 16, 2026, BSMW is down -2.1% year-to-date (YTD), while FLMI has lost -4.5%. That puts BSMW better performer ahead so far this year.
Which ETF is attracting more investor money: BSMW or FLMI?
Year-to-date, the BSMW ETF saw +$89M in flows, compared to +$1.09B for FLMI.
Which ETF is more volatile: BSMW or FLMI?
Over the past year, BSMW had a volatility of 3.12%, while FLMI experienced 3.69%.
Which ETF is bigger: BSMW or FLMI?
As of October 16, 2026, BSMW holds $227.69 M in assets under management (AUM), while FLMI manages $2.31 B.
What sectors do the BSMW and FLMI ETFs invest in?
BSMW leans toward sectors like Municipal. Meanwhile, FLMI focuses on Municipal.
What are the top holdings of the BSMW ETF and FLMI 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. FLMI holds in its top three: Black Belt Energy Gas District, 5% 1oct2035, USD (2025), Southeast Energy Authority, 5% 1nov2035, USD (2024A) and Kentucky Public Energy Authority, 5% 1may2036, USD (2025).
Which ETF is more diversified: BSMW or FLMI?
BSMW holds 1912 securities with 5.14% of its assets in the top 15. FLMI has 1414 securities and a top 15 weight of 19.5%.
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