BSMZvsBSMWETF Comparison
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Invesco BulletShares 2035 Municipal Bond ETF (BSMZ) and Invesco BulletShares 2032 Municipal Bond ETF (BSMW) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. Both BSMZ and BSMW have the same Total Expense Ratio (TER) of 0.18%. BSMZ is down -3.02% year-to-date (YTD) with +$48M in YTD flows. BSMW performs better with -2.1% YTD performance, and +$89M in YTD flows. Run a side-by-side ETF comparison of BSMZ and BSMW 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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BSMZ vs BSMW performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | BSMZ BSMW | -0.13%-0.09% | -4.35%-3.05% | -3.02%-2.10% | -2.21%-1.51% | n/a+10.84% | n/an/a |
| Flows | BSMZ BSMW | +$5M+$17M | +$17M+$27M | +$48M+$89M | +$68M+$112M | -+$207M | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | BSMZ BSMW | +6.22%+4.97% | +3.99%+3.12% | n/a+4.15% | n/an/a |
| Max drawdown | BSMZ BSMW | -7.24%-5.60% | -8.19%-6.62% | n/a-6.62% | n/an/a |
| Max drawdown duration | BSMZ BSMW | 92d92d | 102d229d | n/a229d | n/an/a |
Trading data
BSMZ | BSMW | |
Last sale 10/16/2026 at 1:30 PM | $24.01 | $24.03 |
| Previous close 10/15/2026 | $24.00 | $24.03 |
| 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 19, 2026
1-year trailing difference
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BSMZ | BSMW | |
|---|---|---|
| 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
BSMZ | BSMW | |
|---|---|---|
| Last price | $24.01 | $24.03 |
| 1D performance | +0.06% | +0.00% |
| AuM | $69.48 M | $227.69 M |
| E/R | 0.18% | 0.18% |
Characteristics
BSMZ | BSMW | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Invesco | Invesco |
| Benchmark | ICE BulletShares Municipal Bond 2035 Index | ICE BulletShares USD Municipal Bond 2032 Index |
| N° of holdings | 467 | 629 |
| Asset class | - | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 17, 2025 | March 1, 2023 |
| ESG | No | No |
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Exposure
Countries
BSMZ
USA
38.82%
Other
61.18%
BSMW
USA
40.37%
Other
59.63%
Sectors
BSMZ
Municipal
38.82%
Other
61.18%
BSMW
Municipal
40.37%
Other
59.63%
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Diversification
BSMZ
Total weight of top 15 holdings out of 15
6.39%
BSMW
Total weight of top 15 holdings out of 15
5.14%
Top 15 holdings
Data as of August 31, 2026
BSMZ
New York Liberty Development Corp., 5.25% 1oct2035, USD (2005)
0.71%
New York Thruway Authority, 5% 15mar2055, USD (2025B)
0.47%
Massachusetts School Building Authority, 5% 15feb2055, USD (2025)
0.46%
Chicago O'Hare International Airport, 5.25% 1jan2061, USD (2026A)
0.45%
City of New York, 5.25% 1feb2050, USD (2025)
0.44%
US60637AYQ92
0.43%
US662903J879
0.42%
US67766WV741
0.41%
California Infrastructure and Economic Development Bank, 5.25% 15may2059, USD (2025)
0.41%
California, 5% 1mar2055, USD
0.39%
Omaha Public Facilities Corp., 5% 15apr2050, USD (2025C)
0.39%
New York Transitional Finance Authority, 5.5% 1may2050, USD (2026)
0.36%
Texas Water Development Board, 5% 15oct2042, USD (2025)
0.35%
US64972GL510
0.35%
US64990AWY71
0.35%
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%
Frequently asked questions about BSMZ and BSMW
How have the BSMZ and BSMW ETFs performed in 2026?
As of October 16, 2026, BSMZ is down -3.02% year-to-date (YTD), while BSMW has lost -2.1%. That puts BSMW better performer ahead so far this year.
Which ETF is attracting more investor money: BSMZ or BSMW?
Year-to-date, the BSMZ ETF saw +$48M in flows, compared to +$89M for BSMW.
Which ETF is more volatile: BSMZ or BSMW?
Over the past year, BSMZ had a volatility of 3.99%, while BSMW experienced 3.12%.
Which ETF is bigger: BSMZ or BSMW?
As of October 16, 2026, BSMZ holds $69.48 M in assets under management (AUM), while BSMW manages $227.69 M.
What sectors do the BSMZ and BSMW ETFs invest in?
BSMZ leans toward sectors like Municipal. Meanwhile, BSMW focuses on Municipal.
What are the top holdings of the BSMZ ETF and BSMW ETF?
BSMZ top holdings include New York Liberty Development Corp., 5.25% 1oct2035, USD (2005), New York Thruway Authority, 5% 15mar2055, USD (2025B) and Massachusetts School Building Authority, 5% 15feb2055, USD (2025). BSMW holds in its top three: University of California Medical Center, 5% 15may2047, USD (2022), New York Municipal Water Finance Authority, 5.25% 15jun2052, USD (2023) and US46246SAU96.
Which ETF is more diversified: BSMZ or BSMW?
BSMZ holds 1611 securities with 6.39% of its assets in the top 15. BSMW has 1912 securities and a top 15 weight of 5.14%.
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