BSMYvsDFNMETF Comparison
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Invesco BulletShares 2034 Municipal Bond ETF (BSMY) and Dimensional National Municipal Bond ETF (DFNM) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. Both BSMY and DFNM have the same Total Expense Ratio (TER) of 0.18%. BSMY is down -3.63% year-to-date (YTD) with +$67M in YTD flows. DFNM performs better with -1.58% YTD performance, and +$395M in YTD flows. Run a side-by-side ETF comparison of BSMY and DFNM 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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BSMY vs DFNM performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/14/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | BSMY DFNM | -1.26%-0.76% | -5.00%-2.93% | -3.63%-1.58% | -2.44%-0.61% | n/a+8.48% | n/an/a |
| Flows | BSMY DFNM | +$14M+$5M | +$21M+$88M | +$67M+$395M | +$89M+$612M | -+$1.32B | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | BSMY DFNM | +5.62%+3.41% | +3.68%+2.14% | n/a+2.30% | n/an/a |
| Max drawdown | BSMY DFNM | -7.04%-4.30% | -7.85%-4.56% | n/a-4.56% | n/an/a |
| Max drawdown duration | BSMY DFNM | 92d92d | 227d99d | n/a99d | n/an/a |
Trading data
BSMY | DFNM | |
Last sale 10/15/2026 at 1:30 PM | $23.26 | $46.71 |
| Previous close 10/14/2026 | $23.00 | $46.45 |
| Consolidated volume 10/14/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 15, 2026
1-year trailing difference
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DFNM
is actively managed and doesn’t replicate an indexBSMY | DFNM | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/15/2026 at 1:30 PM
Live
Closed
BSMY | DFNM | |
|---|---|---|
| Last price | $23.26 | $46.71 |
| 1D performance | +1.15% | +0.56% |
| AuM | $151.78 M | $2.24 B |
| E/R | 0.18% | 0.18% |
Characteristics
BSMY | DFNM | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Invesco | Dimensional |
| Benchmark | ICE BulletShares Municipal Bond 2034 Index | - |
| N° of holdings | 380 | 259 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 11, 2024 | November 15, 2021 |
| ESG | No | No |
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Exposure
Countries
BSMY
USA
29.17%
Other
70.83%
DFNM
USA
30.25%
Other
69.75%
Sectors
BSMY
Municipal
29.17%
Other
70.83%
DFNM
Municipal
30.25%
Other
69.75%
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Diversification
BSMY
Total weight of top 15 holdings out of 15
5.69%
DFNM
Total weight of top 15 holdings out of 15
8.59%
Top 15 holdings
Data as of August 31, 2026
BSMY
New York Dormitory Authority, 5.5% 1jul2054, USD (2024A)
0.61%
Triborough Bridge and Tunnel Authority, 5.25% 15may2064, USD (2024A-1)
0.52%
Los Angeles Unified School District, 5% 1jul2034, USD (2024A)
0.50%
New York Municipal Water Finance Authority, 5.25% 15jun2053, USD (2025)
0.44%
Massachusetts, 5% 1jan2054, USD (2024)
0.44%
Triborough Bridge and Tunnel Authority, 3% 15nov2034, USD
0.40%
University of Missouri System Facilities, 5% 1nov2034, USD (2024)
0.40%
South Carolina Public Service Authority, 5.25% 1dec2054, USD (2024)
0.35%
US64972JGW27
0.31%
US89602HHH30
0.30%
North Carolina Turnpike Authority, 5% 1jan2058, USD (2024A)
0.29%
US59260XCG16
0.28%
US65000B8S01
0.28%
US97705MJ897
0.28%
US57584Y7K96
0.27%
DFNM
County of Hudson, 4% 24feb2027, USD (2026)
0.80%
Revere, 4% 29jul2027, USD
0.72%
US692160VQ47
0.67%
City of Somerville (MA), 4% 28may2027, USD
0.67%
Hoboken, 4% 8mar2027, USD (2026)
0.67%
US562333SJ48
0.59%
US594712ZC81
0.58%
US609561SR73
0.51%
Maryland, 5% 1jun2037, USD (2025)
0.49%
US650028F992
0.49%
New Mexico, 5% 1mar2027, USD (2026)
0.49%
US686507NU45
0.48%
US30382AMM17
0.48%
US59333FR362
0.46%
Charleston School District, 5% 6may2027, USD (2026A)
0.46%
Frequently asked questions about BSMY and DFNM
How have the BSMY and DFNM ETFs performed in 2026?
As of October 14, 2026, BSMY is down -3.63% year-to-date (YTD), while DFNM has lost -1.58%. That puts DFNM better performer ahead so far this year.
Which ETF is attracting more investor money: BSMY or DFNM?
Year-to-date, the BSMY ETF saw +$67M in flows, compared to +$395M for DFNM.
Which ETF is more volatile: BSMY or DFNM?
Over the past year, BSMY had a volatility of 3.68%, while DFNM experienced 2.14%.
Which ETF is bigger: BSMY or DFNM?
As of October 14, 2026, BSMY holds $151.78 M in assets under management (AUM), while DFNM manages $2.24 B.
What sectors do the BSMY and DFNM ETFs invest in?
BSMY leans toward sectors like Municipal. Meanwhile, DFNM focuses on Municipal.
What are the top holdings of the BSMY ETF and DFNM ETF?
BSMY top holdings include New York Dormitory Authority, 5.5% 1jul2054, USD (2024A), Triborough Bridge and Tunnel Authority, 5.25% 15may2064, USD (2024A-1) and Los Angeles Unified School District, 5% 1jul2034, USD (2024A). DFNM holds in its top three: County of Hudson, 4% 24feb2027, USD (2026), Revere, 4% 29jul2027, USD and US692160VQ47.
Which ETF is more diversified: BSMY or DFNM?
BSMY holds 1972 securities with 5.69% of its assets in the top 15. DFNM has 1198 securities and a top 15 weight of 8.59%.
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