Invesco BulletShares 2026 Municipal Bond ETF
$23.40−0.04 (−0.15%)
- Expense ratio
- 0.18%
- Fund size
- $265M
- 1Y return
- +1.9%
- Yield · Last 12 months
- 2.76%
- Holdings
- 1184
- Volume · 30D
- 0.1M sh
- NAV per share
- $23.48
- 52W range
The ETF.net BSMQ Grade
Score 55 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.CScore 45Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.BScore 68Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.AScore 76Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.DScore 28Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 77Category rank
Our read on BSMQ
BOne rung of a muni ladder in a single ticker: roughly 1,200 investment-grade municipal bonds, monthly distributions, and a built-in end date, with the fund set to terminate on or about Dec. 15, 2026 and pay out its net assets in cash.
The fund seeks to track the Invesco BulletShares Municipal Bond 2026 Index by investing at least 80% of total assets in its municipal bonds. The portfolio is designed to mature in 2026 and terminate around December 15, 2026.
Why people hold it
- It finishes like a bond. Invesco designed the portfolio to mature in 2026 and terminate on or about Dec. 15, 2026, paying shareholders a cash distribution of net assets.invesco.cominvesco.com
- Wide net for a dated rung: roughly 1,200 municipal bonds, sampled from the index rather than bought one by one, with fund and index rebalanced monthly.invesco.com
- The index holds investment-grade municipal debt whose interest is generally exempt from federal income tax, and BulletShares funds typically distribute monthly.invesco.cometfstrategy.com
- Duration falls as the termination date nears, so rate moves push the price around less late in the fund's life than early on.invesco.com
Worth knowing
- No set payout at the end. Invesco states the funds do not seek to return any predetermined amount at maturity, so the final cash distribution is whatever net assets are worth then.invesco.com
- In the last six months of the maturity year, bonds are expected to mature or be called and proceeds sit in cash or T-bills, so the muni profile fades before termination.invesco.com
- Fee is 0.18%, level with the target-maturity muni median, while the iShares iBonds muni rungs (IBMO, IBMP) list at 0.10%.
BSMQ Holdings
- Bonds
- 1,184
- 22%
- CASH & EQUIVALENTS
BSMQ Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | BSMQ |
|---|---|
| Year to date | +1.2% |
| 1 month | −0.0% |
| 3 months | +0.2% |
| 1 year | +1.9% |
| 3 years | +3.1% |
| 5 years | +0.3% |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | BSMQ |
|---|---|---|
| 2026 YTD | +1.2% | |
| 2025 | +3.1% | |
| 2024 | +2.0% | |
| 2023 | +3.6% | |
| 2022 | −7.6% | |
| 2021 | +1.1% | |
| 2020 | +5.3% |
BSMQ in the news
ETF.net Research hasn’t filed on BSMQ yet — coverage lands here as it’s written.
BSMQ Dividends
- 2.76%
- $0.65
- $0.05 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 21, 2026 | Pays Sep 25, 2026 | $0.05 |
| Aug 24, 2026 | Aug 28, 2026 | $0.06 |
| Jul 20, 2026 | Jul 24, 2026 | $0.06 |
| Jun 22, 2026 | Jun 26, 2026 | $0.05 |
| May 18, 2026 | May 22, 2026 | $0.05 |
| Apr 20, 2026 | Apr 24, 2026 | $0.05 |
| Mar 23, 2026 | Mar 27, 2026 | $0.06 |
| Feb 23, 2026 | Feb 27, 2026 | $0.06 |
| Jan 20, 2026 | Jan 23, 2026 | $0.05 |
| Dec 22, 2025 | Dec 26, 2025 | $0.05 |
| Nov 24, 2025 | Nov 28, 2025 | $0.05 |
| Oct 20, 2025 | Oct 24, 2025 | $0.05 |
BSMQ Risk
- 2.4%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.63
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −11.2%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.37
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
BSMQ Cost
- The middle half of Defined-Maturity Municipal funds
- Median 0.18%
9 of the 32 Defined-Maturity Municipal funds charge less.