BSMWvsTAFMETF Comparison
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Invesco BulletShares 2032 Municipal Bond ETF (BSMW) and AB Tax-Aware Intermediate Municipal ETF (TAFM) belong to the same industry segment: Municipal Bonds. BSMW's top 1 sector exposures are Municipal. In contrast, TAFM's top sector exposures are Municipal and Industrials. BSMW is less expensive with a Total Expense Ratio (TER) of 0.18%, versus 0.28% for TAFM. BSMW is down -2.1% year-to-date (YTD) with +$89M in YTD flows. TAFM performs better with -1.88% YTD performance, and +$650M in YTD flows. Run a side-by-side ETF comparison of BSMW and TAFM 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 TAFM 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 TAFM | -0.09%-0.42% | -3.05%-3.59% | -2.10%-1.88% | -1.51%-1.37% | +10.84%n/a | n/an/a |
| Flows | BSMW TAFM | +$17M+$286M | +$27M+$420M | +$89M+$650M | +$112M+$724M | +$207M- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | BSMW TAFM | +4.97%+5.25% | +3.12%+3.27% | +4.15%n/a | n/an/a |
| Max drawdown | BSMW TAFM | -5.60%-6.00% | -6.62%-6.61% | -6.62%n/a | n/an/a |
| Max drawdown duration | BSMW TAFM | 92d92d | 229d102d | 229dn/a | n/an/a |
Trading data
BSMW | TAFM | |
Last sale 10/16/2026 at 1:30 PM | $24.03 | $24.29 |
| Previous close 10/15/2026 | $24.03 | $24.23 |
| 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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TAFM
is actively managed and doesn’t replicate an indexBSMW | TAFM | |
|---|---|---|
| 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 | TAFM | |
|---|---|---|
| Last price | $24.03 | $24.29 |
| 1D performance | +0.00% | +0.25% |
| AuM | $227.69 M | $1.07 B |
| E/R | 0.18% | 0.28% |
Characteristics
BSMW | TAFM | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Invesco | AllianceBernstein |
| Benchmark | ICE BulletShares USD Municipal Bond 2032 Index | - |
| N° of holdings | 629 | 253 |
| Asset class | Fixed Income | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | March 1, 2023 | December 13, 2023 |
| ESG | No | No |
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Exposure
Countries
BSMW
USA
40.37%
Other
59.63%
TAFM
USA
41.1%
Other
58.9%
Sectors
BSMW
Municipal
40.37%
Other
59.63%
TAFM
Municipal
40.89%
Other
59.11%
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Diversification
BSMW
Total weight of top 15 holdings out of 15
5.14%
TAFM
Total weight of top 15 holdings out of 15
7.34%
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%
TAFM
Idaho, 4% 30jun2027, USD (2026)
0.67%
US915260FV02
0.66%
Maryland Economic Development Corp., 5.25% 30jun2055, USD (2022B)
0.57%
California Community Choice Financing Authority, 5% 1apr2056, USD (2026A-1)
0.49%
Kentucky Public Energy Authority, 5% 1may2036, USD (2025)
0.48%
Chicago Transit Authority, 5% 1dec2049, USD (2024A)
0.47%
US7485082P22
0.47%
New York Transitional Finance Authority, 5.25% 1may2055, USD (2026)
0.47%
US646140KU60
0.47%
US04780M7G87
0.46%
Wisconsin Public Finance Authority, 6.5% 30jun2060, USD (2025)
0.45%
California Community Choice Financing Authority, 5% 1aug2055, USD (2024C)
0.44%
US544446AS64
0.42%
Vail, 5.5% 1dec2064, USD (2025)
0.42%
New York Transportation Development Corp., 6% 30jun2059, USD (2025)
0.41%
Frequently asked questions about BSMW and TAFM
How have the BSMW and TAFM ETFs performed in 2026?
As of October 16, 2026, BSMW is down -2.1% year-to-date (YTD), while TAFM has lost -1.88%. That puts TAFM better performer ahead so far this year.
Which ETF is attracting more investor money: BSMW or TAFM?
Year-to-date, the BSMW ETF saw +$89M in flows, compared to +$650M for TAFM.
Which ETF is more volatile: BSMW or TAFM?
Over the past year, BSMW had a volatility of 3.12%, while TAFM experienced 3.27%.
Which ETF is bigger: BSMW or TAFM?
As of October 16, 2026, BSMW holds $227.69 M in assets under management (AUM), while TAFM manages $1.07 B.
What sectors do the BSMW and TAFM ETFs invest in?
BSMW leans toward sectors like Municipal. Meanwhile, TAFM focuses on Municipal.
What are the top holdings of the BSMW ETF and TAFM 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. TAFM holds in its top three: Idaho, 4% 30jun2027, USD (2026), US915260FV02 and Maryland Economic Development Corp., 5.25% 30jun2055, USD (2022B).
Which ETF is more diversified: BSMW or TAFM?
BSMW holds 1912 securities with 5.14% of its assets in the top 15. TAFM has 667 securities and a top 15 weight of 7.34%.
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