BSMWvsIROCETF Comparison
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Invesco BulletShares 2032 Municipal Bond ETF (BSMW) belongs to the Municipal Bonds segment. Invesco Rochester High Yield Municipal ETF (IROC) is part of the US Aggregate Bonds segment. Both ETFs have the same top 1 sector exposures: Municipal. BSMW is less expensive with a Total Expense Ratio (TER) of 0.18%, versus 0.4% for IROC. BSMW is down -2.1% year-to-date (YTD) with +$89M in YTD flows. IROC performs worse with -3.2% YTD performance, and +$93M in YTD flows. Run a side-by-side ETF comparison of BSMW and IROC 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 IROC 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 IROC | -0.09%-0.98% | -3.05%-4.70% | -2.10%-3.20% | -1.51%-2.41% | +10.84%+11.52% | n/an/a |
| Flows | BSMW IROC | +$17M+$34M | +$27M+$67M | +$89M+$93M | +$112M+$142M | +$207M+$169M | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | BSMW IROC | +4.97%+5.64% | +3.12%+3.51% | +4.15%+3.52% | n/an/a |
| Max drawdown | BSMW IROC | -5.60%-6.59% | -6.62%-7.11% | -6.62%-7.11% | n/an/a |
| Max drawdown duration | BSMW IROC | 92d92d | 229d102d | 229d102d | n/an/a |
Trading data
BSMW | IROC | |
Last sale 10/16/2026 at 1:30 PM | $24.03 | $48.45 |
| Previous close 10/15/2026 | $24.03 | $48.46 |
| 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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IROC
is actively managed and doesn’t replicate an indexBSMW | IROC | |
|---|---|---|
| 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 | IROC | |
|---|---|---|
| Last price | $24.03 | $48.45 |
| 1D performance | +0.00% | -0.02% |
| AuM | $227.69 M | $192.11 M |
| E/R | 0.18% | 0.4% |
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Exposure
Countries
BSMW
USA
40.37%
Other
59.63%
IROC
USA
40.88%
Other
59.12%
Sectors
BSMW
Municipal
40.37%
Other
59.63%
IROC
Municipal
40.88%
Other
59.12%
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Diversification
BSMW
Total weight of top 15 holdings out of 15
5.14%
IROC
Total weight of top 15 holdings out of 15
18.23%
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%
IROC
Central Plains Energy Gas Project, 5% 1sep2042, USD (2017A)
1.28%
Kentucky Public Energy Authority, 5% 1dec2033, USD (2025)
1.28%
US13013JGF75
1.25%
US37353PWV74
1.25%
US812643H643
1.24%
US121342PQ61
1.24%
City of New York, FRN 1dec2047, USD
1.24%
US677561LA84
1.24%
Washington Suburban Sanitary District, FRN 1jun2027, USD
1.24%
Gulf Coast Industrial Development Authority, FRN 1nov2041, USD (2012)
1.24%
US686507NQ33
1.24%
Mississippi Business Finance Corp., FRN 1nov2035, USD (2010I)
1.24%
US63608TBR05
1.09%
Texas, 5% 1aug2041, USD
1.07%
Massachusetts Development Finance Agency, 5% 1jan2047, USD
1.05%
Frequently asked questions about BSMW and IROC
How have the BSMW and IROC ETFs performed in 2026?
As of October 16, 2026, BSMW is down -2.1% year-to-date (YTD), while IROC has lost -3.2%. That puts BSMW better performer ahead so far this year.
Which ETF is attracting more investor money: BSMW or IROC?
Year-to-date, the BSMW ETF saw +$89M in flows, compared to +$93M for IROC.
Which ETF is more volatile: BSMW or IROC?
Over the past year, BSMW had a volatility of 3.12%, while IROC experienced 3.51%.
Which ETF is bigger: BSMW or IROC?
As of October 16, 2026, BSMW holds $227.69 M in assets under management (AUM), while IROC manages $192.11 M.
What sectors do the BSMW and IROC ETFs invest in?
BSMW leans toward sectors like Municipal. Meanwhile, IROC focuses on Municipal.
What are the top holdings of the BSMW ETF and IROC 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. IROC holds in its top three: Central Plains Energy Gas Project, 5% 1sep2042, USD (2017A), Kentucky Public Energy Authority, 5% 1dec2033, USD (2025) and US13013JGF75.
Which ETF is more diversified: BSMW or IROC?
BSMW holds 1912 securities with 5.14% of its assets in the top 15. IROC has 174 securities and a top 15 weight of 18.23%.
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