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Launched

Invesco BulletShares 2026 Municipal Bond ETF

BSMQNasdaqInvescoC

$23.48+0.01 (+0.04%)

At close: Nov 2, 2026, 4:00 PM ET

C49/ 100

Rank 17 of 32 in Defined-Maturity Municipal

C49/100Rank 17 of 32inDefined-Maturity Municipal
Intraday session: up, 79 prints from 23.48 to 23.48. Range 23.45 to 23.49. Use the arrow keys to read each point.23.4523.4623.4723.4823.4910 AM12 PM2 PM4 PM
Expense ratio
0.18%
Fund size
$252M
1Y total return
+2.2%
Yield · Last 12 months
2.76%
Holdings
1004
Avg volume · 30D
50K sh
52W range
low $23.33high $23.75
Launched

The ETF.net BSMQ Grade

Based on 5 of 6 pillars

C

Score 49 out of 100

Category
Defined-Maturity Municipal⁠
Rank
17 of 32
Six-pillar profile for BSMQ. Scores out of 100: Cost 45, Risk 63, Mission not scored, Tradability 55, Holdings 23, Durability 76. Strongest: Durability (76). Weakest: Holdings (23). Based on 5 of 6 pillars.

Score 49 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    C45 out of 100
    Rank 10 of 32

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B63 out of 100
    Rank 6 of 29

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B55 out of 100
    Rank 10 of 32

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    F23 out of 100
    Rank 30 of 32

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A76 out of 100
    Rank 5 of 32

Our read on BSMQ

ETF.net Research

In short

COne 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.

Stated mandate

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 2
  • 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 Performance

Launched Sep 25, 2019

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.
BSMQ$10,222
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. BSMQ $10,222. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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.

Trailing total return for BSMQ. Periods over one year show the average yearly return.
PeriodBSMQ
Year to date+1.6%
1 month+0.5%
3 months+0.4%
1 year+2.2%
3 yearsper year+3.7%
5 yearsper year+0.5%
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for BSMQ
YearReturn barBSMQ
2026 YTD+1.6%
2025+3.1%
2024+2.0%
2023+3.6%
2022−7.6%
2021+1.1%
2020+5.3%

BSMQ in the news

BSMQ Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
2.76%Last 12 months
Payout per share
$0.65Last 12 months
Last payment
$0.05 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution history

2023–2026

One bar per payment. 46 payments from 2023 to 2026 YTD. Jan 23, 2023 $0.05; Feb 21, 2023 $0.04; Mar 20, 2023 $0.05; Apr 24, 2023 $0.05; May 22, 2023 $0.05; Jun 20, 2023 $0.05; Jul 24, 2023 $0.05; Aug 21, 2023 $0.05; Sep 18, 2023 $0.05; Oct 23, 2023 $0.05; Nov 20, 2023 $0.05; Dec 18, 2023 $0.05; Jan 22, 2024 $0.05; Feb 20, 2024 $0.05; Mar 18, 2024 $0.05; Apr 22, 2024 $0.05; May 20, 2024 $0.05; Jun 24, 2024 $0.06; Jul 22, 2024 $0.06; Aug 19, 2024 $0.06; Sep 23, 2024 $0.05; Oct 21, 2024 $0.06; Nov 18, 2024 $0.06; Dec 23, 2024 $0.05; Jan 21, 2025 $0.05; Feb 24, 2025 $0.05; Mar 24, 2025 $0.05; Apr 21, 2025 $0.05; May 19, 2025 $0.06; Jun 23, 2025 $0.06; Jul 21, 2025 $0.06; Aug 18, 2025 $0.06; Sep 22, 2025 $0.05; Oct 20, 2025 $0.05; Nov 24, 2025 $0.05; Dec 22, 2025 $0.05; Jan 20, 2026 $0.05; Feb 23, 2026 $0.06; Mar 23, 2026 $0.06; Apr 20, 2026 $0.05; May 18, 2026 $0.05; Jun 22, 2026 $0.05; Jul 20, 2026 $0.06; Aug 24, 2026 $0.06; Sep 21, 2026 $0.05; Oct 19, 2026 $0.05. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Oct 19, 2026Oct 23, 2026$0.05
Sep 21, 2026Sep 25, 2026$0.05
Aug 24, 2026Aug 28, 2026$0.06
Jul 20, 2026Jul 24, 2026$0.06
Jun 22, 2026Jun 26, 2026$0.05
May 18, 2026May 22, 2026$0.05
Apr 20, 2026Apr 24, 2026$0.05
Mar 23, 2026Mar 27, 2026$0.06
Feb 23, 2026Feb 27, 2026$0.06
Jan 20, 2026Jan 23, 2026$0.05
Dec 22, 2025Dec 26, 2025$0.05
Nov 24, 2025Nov 28, 2025$0.05

See all 85 payments⁠

$10,000 in BSMQ 5 years ago paid $1,105 in dividends.⁠

BSMQ Risk

Risk pillarB63 out of 100Rank 6 of 29 in Defined-Maturity Municipal
How much the fund’s monthly returns vary, scaled to a year.
2.2%
Annualised · 36 months to Oct 2026
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.

Return above 3-month US Treasury bills per unit of volatility.
−0.36
vs 3-month T-bills · to Oct 2026
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.

The largest fall from a peak to the low that followed.
−11.1%
Trough Oct 2022
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.

How strongly the fund’s returns move with its asset-class index.
0.37
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

BSMQ Cost

Compare BSMQ and IBMQ

Overpaying vs IBMQ, tied cheapest in Defined-Maturity Municipal

$1,643

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • BSMQ 0.18%

    $3,749

  • IBMQ 0.10% Tied cheapest

    $2,106

$10,000
30 years

Cost over time

  • BSMQ 0.18%
  • IBMQ 0.10%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$1K$2K$3K$4K051015202530BSMQ $3,749IBMQ $2,106

Year by year

YearBSMQIBMQOverpaying
10$328$183$145
20$1,281$717$564
30$3,749$2,106$1,643

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