BSMWvsTAFIETF Comparison
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Invesco BulletShares 2032 Municipal Bond ETF (BSMW) and AB Tax-Aware Short Duration Municipal ETF (TAFI) belong to the same industry segment: Municipal Bonds. BSMW's top 1 sector exposures are Municipal. In contrast, TAFI's top sector exposures are Municipal, Industrials and Consumer Non-Cyclicals. BSMW is less expensive with a Total Expense Ratio (TER) of 0.18%, versus 0.27% for TAFI. BSMW is down -2.1% year-to-date (YTD) with +$89M in YTD flows. TAFI performs better with 0.49% YTD performance, and +$397M in YTD flows. Run a side-by-side ETF comparison of BSMW and TAFI 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 TAFI 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 TAFI | -0.09%-0.05% | -3.05%-0.78% | -2.10%+0.49% | -1.51%+0.92% | +10.84%+11.08% | n/an/a |
| Flows | BSMW TAFI | +$17M+$75M | +$27M+$78M | +$89M+$397M | +$112M+$509M | +$207M+$1.26B | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | BSMW TAFI | +4.97%+2.14% | +3.12%+1.34% | +4.15%+1.47% | n/an/a |
| Max drawdown | BSMW TAFI | -5.60%-2.23% | -6.62%-2.28% | -6.62%-2.28% | n/an/a |
| Max drawdown duration | BSMW TAFI | 92d64d | 229d102d | 229d102d | n/an/a |
Trading data
BSMW | TAFI | |
Last sale 10/16/2026 at 1:30 PM | $24.03 | $24.76 |
| Previous close 10/15/2026 | $24.03 | $24.74 |
| 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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TAFI
is actively managed and doesn’t replicate an indexBSMW | TAFI | |
|---|---|---|
| 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 | TAFI | |
|---|---|---|
| Last price | $24.03 | $24.76 |
| 1D performance | +0.00% | +0.08% |
| AuM | $227.69 M | $1.44 B |
| E/R | 0.18% | 0.27% |
Characteristics
BSMW | TAFI | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Invesco | AllianceBernstein |
| Benchmark | ICE BulletShares USD Municipal Bond 2032 Index | - |
| N° of holdings | 629 | 237 |
| Asset class | Fixed Income | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | March 1, 2023 | September 13, 2022 |
| ESG | No | No |
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Exposure
Countries
BSMW
USA
40.37%
Other
59.63%
TAFI
USA
38.46%
Other
61.54%
Sectors
BSMW
Municipal
40.37%
Other
59.63%
TAFI
Municipal
37.95%
Other
62.05%
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Diversification
BSMW
Total weight of top 15 holdings out of 15
5.14%
TAFI
Total weight of top 15 holdings out of 15
12.84%
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%
TAFI
Pennsylvania Economic Development Financing Authority, FRN 15may2053, USD
1.53%
US040507QB45
1.41%
US7485082P22
1.17%
City of New York, 5% 1feb2032, USD (2026)
1.05%
Colorado Health Facilities Authority, 5% 1sep2032, USD (2025A)
0.83%
US230589AB90
0.81%
Illinois Finance Authority, FRN 15nov2037, USD (2018)
0.77%
Revere, 4% 29jul2027, USD
0.75%
Miami-Dade School District, 4% 7jan2027, USD (2026)
0.74%
US09182TKL07
0.74%
Puerto Rico Sales Tax Financing Corp., 0% 1jul2029, USD (3792D)
0.73%
US745160TD34
0.66%
Orchard Park Central School District, 4% 30apr2027, USD (2026)
0.57%
US67756CGX02
0.57%
City of Los Angeles, 5% 24jun2027, USD (2026)
0.53%
Frequently asked questions about BSMW and TAFI
How have the BSMW and TAFI ETFs performed in 2026?
As of October 16, 2026, BSMW is down -2.1% year-to-date (YTD), while TAFI has returned 0.49%. That puts TAFI better performer ahead so far this year.
Which ETF is attracting more investor money: BSMW or TAFI?
Year-to-date, the BSMW ETF saw +$89M in flows, compared to +$397M for TAFI.
Which ETF is more volatile: BSMW or TAFI?
Over the past year, BSMW had a volatility of 3.12%, while TAFI experienced 1.34%.
Which ETF is bigger: BSMW or TAFI?
As of October 16, 2026, BSMW holds $227.69 M in assets under management (AUM), while TAFI manages $1.44 B.
What sectors do the BSMW and TAFI ETFs invest in?
BSMW leans toward sectors like Municipal. Meanwhile, TAFI focuses on Municipal.
What are the top holdings of the BSMW ETF and TAFI 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. TAFI holds in its top three: Pennsylvania Economic Development Financing Authority, FRN 15may2053, USD, US040507QB45 and US7485082P22.
Which ETF is more diversified: BSMW or TAFI?
BSMW holds 1912 securities with 5.14% of its assets in the top 15. TAFI has 691 securities and a top 15 weight of 12.84%.
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