Invesco BulletShares 2028 Municipal Bond ETF
$22.95−0.10 (−0.46%)
- Expense ratio
- 0.18%
- Fund size
- $331M
- 1Y return
- +0.8%
- Yield · Last 12 months
- 2.82%
- Holdings
- 2360
- Volume · 30D
- 0.1M sh
- NAV per share
- $23.01
- 52W range
The ETF.net BSMS Grade
Score 52 of 100 sits in the C 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.CScore 49Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.CScore 51Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.AScore 74Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 72Category rank
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
- 2,360
- 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.
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 | BSMS |
|---|---|
| Year to date | +0.2% |
| 1 month | −1.3% |
| 3 months | −1.0% |
| 1 year | +0.8% |
| 3 years | +3.2% |
| 5 years | −0.2% |
| 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 | +0.2% | |
| 2025 | +3.6% | |
| 2024 | +1.0% | |
| 2023 | +5.0% | |
| 2022 | −9.9% | |
| 2021 | +1.5% | |
| 2020 | +6.7% |
BSMS in the news
ETF.net Research hasn’t filed on BSMS yet — coverage lands here as it’s written.
BSMS Dividends
- 2.82%
- $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 | $0.06 |
| May 18, 2026 | May 22, 2026 | $0.06 |
| Apr 20, 2026 | Apr 24, 2026 | $0.05 |
| Mar 23, 2026 | Mar 27, 2026 | $0.05 |
| Feb 23, 2026 | Feb 27, 2026 | $0.05 |
| 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 |
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.
- −0.35
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
- The middle half of Defined-Maturity Municipal funds
- Median 0.18%
9 of the 32 Defined-Maturity Municipal funds charge less.