BSMWvsTAXIETF Comparison
VS
Invesco BulletShares 2032 Municipal Bond ETF (BSMW) and Northern Trust Intermediate Tax-Exempt Bond ETF (TAXI) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. BSMW is more expensive with a Total Expense Ratio (TER) of 0.18%, versus 0.05% for TAXI. BSMW is down -2.1% year-to-date (YTD) with +$89M in YTD flows. TAXI performs better with -0.71% YTD performance, and +$204M in YTD flows. Run a side-by-side ETF comparison of BSMW and TAXI 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 TAXI 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 TAXI | -0.09%+0.41% | -3.05%-1.50% | -2.10%-0.71% | -1.51%+0.51% | +10.84%n/a | n/an/a |
| Flows | BSMW TAXI | +$17M+$81M | +$27M+$126M | +$89M+$204M | +$112M+$247M | +$207M- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | BSMW TAXI | +4.97%+3.61% | +3.12%+2.30% | +4.15%n/a | n/an/a |
| Max drawdown | BSMW TAXI | -5.60%-3.78% | -6.62%-4.65% | -6.62%n/a | n/an/a |
| Max drawdown duration | BSMW TAXI | 92d92d | 229d229d | 229dn/a | n/an/a |
Trading data
BSMW | TAXI | |
Last sale 10/16/2026 at 1:30 PM | $24.03 | $49.85 |
| Previous close 10/15/2026 | $24.03 | $49.74 |
| 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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BSMW | TAXI | |
|---|---|---|
| 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 | TAXI | |
|---|---|---|
| Last price | $24.03 | $49.85 |
| 1D performance | +0.00% | +0.23% |
| AuM | $227.69 M | $252.16 M |
| E/R | 0.18% | 0.05% |
Characteristics
BSMW | TAXI | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Invesco | Northern Trust |
| Benchmark | ICE BulletShares USD Municipal Bond 2032 Index | ICE Intermediate Term Focused Municipal Bond Index |
| N° of holdings | 629 | 908 |
| Asset class | Fixed Income | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | March 1, 2023 | August 19, 2025 |
| ESG | No | No |
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Exposure
Countries
BSMW
USA
40.37%
Other
59.63%
TAXI
USA
39.43%
Other
60.57%
Sectors
BSMW
Municipal
40.37%
Other
59.63%
TAXI
Municipal
39.43%
Other
60.57%
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Diversification
BSMW
Total weight of top 15 holdings out of 15
5.14%
TAXI
Total weight of top 15 holdings out of 15
2.48%
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%
TAXI
Huron Valley School District, 5% 1may2040, USD (2026)
0.20%
US56879EHE23
0.17%
Energy Southeast, 5.5% 1nov2053, USD (2023A-1)
0.17%
Southeast Energy Authority, 5.5% 1jan2053, USD (2022A-1)
0.17%
State of Washington, 5% 1jun2040, USD (2026F)
0.17%
US49151HBK14
0.16%
US64972JB721
0.16%
US46263RTS49
0.16%
US13013JGF75
0.16%
US09182TJE82
0.16%
US79467BKE47
0.16%
Black Belt Energy Gas District, 5% 1may2055, USD (2024)
0.16%
Southeast Alabama Gas Supply District, FRN 1aug2054, USD (A)
0.16%
US915183Z598
0.16%
US09182TCG04
0.16%
Frequently asked questions about BSMW and TAXI
How have the BSMW and TAXI ETFs performed in 2026?
As of October 16, 2026, BSMW is down -2.1% year-to-date (YTD), while TAXI has lost -0.71%. That puts TAXI better performer ahead so far this year.
Which ETF is attracting more investor money: BSMW or TAXI?
Year-to-date, the BSMW ETF saw +$89M in flows, compared to +$204M for TAXI.
Which ETF is more volatile: BSMW or TAXI?
Over the past year, BSMW had a volatility of 3.12%, while TAXI experienced 2.3%.
Which ETF is bigger: BSMW or TAXI?
As of October 16, 2026, BSMW holds $227.69 M in assets under management (AUM), while TAXI manages $252.16 M.
What sectors do the BSMW and TAXI ETFs invest in?
BSMW leans toward sectors like Municipal. Meanwhile, TAXI focuses on Municipal.
What are the top holdings of the BSMW ETF and TAXI 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. TAXI holds in its top three: Huron Valley School District, 5% 1may2040, USD (2026), US56879EHE23 and Energy Southeast, 5.5% 1nov2053, USD (2023A-1).
Which ETF is more diversified: BSMW or TAXI?
BSMW holds 1912 securities with 5.14% of its assets in the top 15. TAXI has 2484 securities and a top 15 weight of 2.48%.
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Latest news about BSMW & TAXI
Ask the Manager: Dave Abner on the Rise of Distributing Ladder ETFs
February 10, 2026
TAXI
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