IROCvsBSMWETF Comparison
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Invesco Rochester High Yield Municipal ETF (IROC) belongs to the US Aggregate Bonds segment. Invesco BulletShares 2032 Municipal Bond ETF (BSMW) is part of the Municipal Bonds segment. Both ETFs have the same top 1 sector exposures: Municipal. IROC is more expensive with a Total Expense Ratio (TER) of 0.4%, versus 0.18% for BSMW. IROC is down -2.36% year-to-date (YTD) with +$98M in YTD flows. BSMW performs better with -1.29% YTD performance, and +$94M in YTD flows. Run a side-by-side ETF comparison of IROC 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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IROC vs BSMW performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/22/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | IROC BSMW | -0.47%+0.81% | -3.06%-1.69% | -2.36%-1.29% | -1.85%-0.92% | +13.96%+13.49% | n/an/a |
| Flows | IROC BSMW | +$34M+$19M | +$71M+$26M | +$98M+$94M | +$138M+$112M | +$173M+$212M | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | IROC BSMW | +5.81%+5.20% | +3.59%+3.21% | +3.52%+4.14% | n/an/a |
| Max drawdown | IROC BSMW | -6.05%-5.48% | -7.11%-6.62% | -7.11%-6.62% | n/an/a |
| Max drawdown duration | IROC BSMW | 70d70d | 108d235d | 108d235d | n/an/a |
Trading data
IROC | BSMW | |
Last sale 10/23/2026 at 1:30 PM | $48.69 | $24.21 |
| Previous close 10/22/2026 | $48.66 | $24.15 |
| Consolidated volume 10/22/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 23, 2026
1-year trailing difference
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IROC
is actively managed and doesn’t replicate an indexIROC | 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 10/23/2026 at 1:30 PM
Live
Closed
IROC | BSMW | |
|---|---|---|
| Last price | $48.69 | $24.21 |
| 1D performance | +0.06% | +0.25% |
| AuM | $197.84 M | $233.74 M |
| E/R | 0.4% | 0.18% |
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Exposure
Countries
IROC
USA
40.88%
Other
59.12%
BSMW
USA
40.37%
Other
59.63%
Sectors
IROC
Municipal
40.88%
Other
59.12%
BSMW
Municipal
40.37%
Other
59.63%
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Diversification
IROC
Total weight of top 15 holdings out of 15
18.23%
BSMW
Total weight of top 15 holdings out of 15
5.14%
Top 15 holdings
Data as of August 31, 2026
IROC
Central Plains Energy Gas Project, 5% 1sep2042, USD (2017A)
1.28%
Kentucky Public Energy Authority, 5% 1dec2033, USD (2025)
1.28%
US13013JGF75
1.25%
US37353PWV74
1.25%
US812643H643
1.24%
US121342PQ61
1.24%
City of New York, FRN 1dec2047, USD
1.24%
US686507NQ33
1.24%
Mississippi Business Finance Corp., FRN 1nov2035, USD (2010I)
1.24%
Washington Suburban Sanitary District, FRN 1jun2027, USD
1.24%
Gulf Coast Industrial Development Authority, FRN 1nov2041, USD (2012)
1.24%
US677561LA84
1.24%
US63608TBR05
1.09%
Texas, 5% 1aug2041, USD
1.07%
Massachusetts Development Finance Agency, 5% 1jan2047, USD
1.05%
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 IROC and BSMW
How have the IROC and BSMW ETFs performed in 2026?
As of October 22, 2026, IROC is down -2.36% year-to-date (YTD), while BSMW has lost -1.29%. That puts BSMW better performer ahead so far this year.
Which ETF is attracting more investor money: IROC or BSMW?
Year-to-date, the IROC ETF saw +$98M in flows, compared to +$94M for BSMW.
Which ETF is more volatile: IROC or BSMW?
Over the past year, IROC had a volatility of 3.59%, while BSMW experienced 3.21%.
Which ETF is bigger: IROC or BSMW?
As of October 22, 2026, IROC holds $197.84 M in assets under management (AUM), while BSMW manages $233.74 M.
What sectors do the IROC and BSMW ETFs invest in?
IROC leans toward sectors like Municipal. Meanwhile, BSMW focuses on Municipal.
What are the top holdings of the IROC ETF and BSMW ETF?
IROC top holdings include Central Plains Energy Gas Project, 5% 1sep2042, USD (2017A), Kentucky Public Energy Authority, 5% 1dec2033, USD (2025) and US13013JGF75. 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: IROC or BSMW?
IROC holds 174 securities with 18.23% of its assets in the top 15. BSMW has 1912 securities and a top 15 weight of 5.14%.
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