CATFvsBSMWETF Comparison
VS
American Century California Municipal Bond ETF (CATF) 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. CATF is more expensive with a Total Expense Ratio (TER) of 0.25%, versus 0.18% for BSMW. CATF is down -0.06% year-to-date (YTD) with +$25M in YTD flows. BSMW performs worse with -0.59% YTD performance, and +$73M in YTD flows. Run a side-by-side ETF comparison of CATF 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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CATF vs BSMW performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/01/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | CATF BSMW | -0.64%-0.67% | -1.59%-1.68% | -0.06%-0.59% | +4.40%+3.32% | n/a+8.70% | n/an/a |
| Flows | CATF BSMW | +$2M+$5M | +$7M+$17M | +$25M+$73M | +$33M+$103M | -+$200M | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | CATF BSMW | +2.67%+2.36% | +2.53%+2.35% | n/a+4.11% | n/an/a |
| Max drawdown | CATF BSMW | -2.39%-2.17% | -2.58%-2.84% | n/a-6.05% | n/an/a |
| Max drawdown duration | CATF BSMW | 57d58d | 116d185d | n/a278d | n/an/a |
Trading data
CATF | BSMW | |
Last sale 9/2/2026 at 7:37 PM | $48.98 | $24.50 |
| Previous close 09/02/2026 | $49.04 | $24.45 |
| Consolidated volume 09/02/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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CATF
is actively managed and doesn’t replicate an indexCATF | 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 9/2/2026 at 7:37 PM
Live
Closed
CATF | BSMW | |
|---|---|---|
| Last price | $48.98 | $24.50 |
| 1D performance | -0.14% | +0.18% |
| AuM | $83.15 M | $214.76 M |
| E/R | 0.25% | 0.18% |
Characteristics
CATF | BSMW | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | American Century Investments | Invesco |
| Benchmark | - | Invesco BulletShares USD Municipal Bond 2032 Index |
| N° of holdings | 107 | 602 |
| Asset class | - | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | July 18, 2024 | March 1, 2023 |
| ESG | No | No |
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Exposure
Countries
CATF
USA
39.99%
Other
60.01%
BSMW
USA
41%
Other
59%
Sectors
CATF
Municipal
39.99%
Other
60.01%
BSMW
Municipal
41%
Other
59%
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Diversification
CATF
Total weight of top 15 holdings out of 15
12.56%
BSMW
Total weight of top 15 holdings out of 15
5.34%
Top 15 holdings
Data as of July 31, 2026
CATF
California, 3.5% 1dec2030, USD
1.46%
Riverside Transportation Commission, 4% 1jun2046, USD
0.95%
California, 4% 1sep2043, USD
0.90%
US684133KT71
0.90%
US13032UN611
0.88%
East AWP Joint Powers Authority, 3.125% 1sep2026, USD (2024A)
0.85%
Puerto Rico Sales Tax Financing Corp., 4.329% 1jul2040, USD
0.84%
California Community Choice Financing Authority, 5.25% 1feb2036, USD (2026C)
0.79%
US13048VV394
0.75%
US13032UX453
0.73%
California Community Choice Financing Authority, 5% 1aug2055, USD (2024C)
0.73%
Desert Community College District, 5% 1aug2051, USD (2016)
0.71%
US544647JV34
0.69%
California Public Works Board, 5% 1sep2033, USD (2024)
0.69%
California Community Choice Financing Authority, 5% 1oct2034, USD (2026G)
0.69%
BSMW
University of California Medical Center, 5% 15may2047, USD (2022)
0.53%
New York Municipal Water Finance Authority, 5.25% 15jun2052, USD (2023)
0.51%
US46246SAU96
0.42%
University of California, 5% 15may2032, USD (2022)
0.42%
University of California, 5% 15may2052, USD (2022)
0.39%
New York Dormitory Authority, 5% 1may2052, USD (2022A)
0.36%
New Jersey, 4% 1jun2032, USD
0.36%
Los Angeles Unified School District, 5% 1jul2032, USD (2024)
0.32%
US64613CEJ36
0.30%
Tarrant Cultural Education Facilities Finance Corp., 5% 15nov2051, USD (2022D)
0.30%
New York Transitional Finance Authority, 5% 1feb2047, USD
0.29%
US13063DT817
0.29%
US01728VWU06
0.29%
New York Municipal Water Finance Authority, 5% 15jun2047, USD
0.29%
Illinois Finance Authority, 5% 15aug2047, USD (2022A)
0.29%
Frequently asked questions about CATF and BSMW
How have the CATF and BSMW ETFs performed in 2026?
As of September 1, 2026, CATF is down -0.06% year-to-date (YTD), while BSMW has lost -0.59%. That puts CATF better performer ahead so far this year.
Which ETF is attracting more investor money: CATF or BSMW?
Year-to-date, the CATF ETF saw +$25M in flows, compared to +$73M for BSMW.
Which ETF is more volatile: CATF or BSMW?
Over the past year, CATF had a volatility of 2.53%, while BSMW experienced 2.35%.
Which ETF is bigger: CATF or BSMW?
As of September 1, 2026, CATF holds $83.15 M in assets under management (AUM), while BSMW manages $214.76 M.
What sectors do the CATF and BSMW ETFs invest in?
CATF leans toward sectors like Municipal. Meanwhile, BSMW focuses on Municipal.
What are the top holdings of the CATF ETF and BSMW ETF?
CATF top holdings include California, 3.5% 1dec2030, USD, Riverside Transportation Commission, 4% 1jun2046, USD and California, 4% 1sep2043, USD. 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: CATF or BSMW?
CATF holds 303 securities with 12.56% of its assets in the top 15. BSMW has 1839 securities and a top 15 weight of 5.34%.
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