Invesco BulletShares 2028 Municipal Bond ETF
$22.99+0.09 (+0.39%)
- 0.18%
- $331M
- +0.3%
- 2.84%
- 0.1M sh
- $22.83
- low $22.63high $23.70
The ETF.net BSMS Grade
C
Score 53 out of 100
- 14 of 32
Score 53 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 100Rank 10 of 32Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C52 out of 100Rank 11 of 29Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C54 out of 100Rank 14 of 32Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A75 out of 100Rank 7 of 32Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A71 out of 100Rank 9 of 32
Our read on BSMS
CA ladder rung in a wrapper: roughly 2,200 municipal bonds that all come due by 2028, when the fund is designed to terminate. Most bond funds roll forever. This one has an end date on the box.
The Fund seeks to track the Invesco BulletShares USD Municipal Bond 2028 Index by investing primarily in U.S.-dollar-denominated municipal securities issued by U.S. states, state agencies, or local governments. It uses representative sampling and is designed to terminate in December 2028.
Why people hold it
- Built to terminate in December 2028, so the position resolves on a known date instead of rolling into new bonds indefinitely.invesco.com
- Spreads across roughly 2,200 municipal issues from US states, agencies and local governments using representative sampling, so no single borrower carries the portfolio.
- Pays monthly, and the diversified muni portfolio is one of the sturdier builds among target-maturity funds.
- Live since 2019 and part of Invesco's long-running BulletShares lineup, which runs the same defined-maturity playbook across corporate and muni years.invesco.com
Worth knowing
- At 0.18% a year, it costs more than the typical target-maturity fund, and more than BulletShares corporate rungs like BSCT and BSCU at 0.10%.
- Trading is moderate rather than heavy, so the market here is thinner than in the largest target-maturity funds.
- By design the portfolio shortens as 2028 nears: bonds mature, proceeds sit in shorter paper, and the fund acts less like a bond fund over time.
BSMS Holdings
- Bonds
- 2,362
- 5%
- USD Pending Dividends
BSMS Performance
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.
BSMS$10,027
Returns run to the Oct 12, 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 | BSMS |
|---|---|
| Year to date | −0.5% |
| 1 month | −1.0% |
| 3 months | −1.5% |
| 1 year | +0.3% |
| 3 years | +3.3% |
| 5 years | −0.1% |
| 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 | BSMS |
|---|---|---|
| 2026 YTD | −0.5% | |
| 2025 | +3.6% | |
| 2024 | +1.0% | |
| 2023 | +5.0% | |
| 2022 | −9.9% | |
| 2021 | +1.5% | |
| 2020 | +6.7% |
BSMS in the news
BSMS Dividends
- 2.84%
- $0.65
- $0.05 per share
- Monthly
Distribution history
BSMS Risk
- 3.9%
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.
- −0.32
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.
- −14.3%
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.
- 0.64
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
BSMS Cost
0.18%
BSMS0.18%
- The middle half of Defined-Maturity Municipal funds
- Median 0.18%
9 of the 32 Defined-Maturity Municipal funds charge less.
Other funds in Defined-Maturity Municipal
- BIBMWiShares Trust - iShares iBonds Dec 2034 Term Muni Bond ETFExpense ratio 0.10%1 year return —
- BMUNANorthern Trust 2030 Tax-Exempt Distributing Ladder ETFExpense ratio 0.18%1 year return +1.1%
- CBSMUInvesco BulletShares 2030 Municipal Bond ETFExpense ratio 0.18%1 year return −1.7%
- CBSMQInvesco BulletShares 2026 Municipal Bond ETFExpense ratio 0.18%1 year return +1.8%
- CBSMYInvesco BulletShares 2034 Municipal Bond ETFExpense ratio 0.18%1 year return −3.1%