Invesco BulletShares 2031 Municipal Bond ETF
$20.05−0.18 (−0.91%)
- Expense ratio
- 0.18%
- Fund size
- $196M
- 1Y return
- −1.2%
- Yield · Last 12 months
- 3.04%
- Holdings
- 1601
- Volume · 30D
- 0M sh
- NAV per share
- $20.20
- 52W range
The ETF.net BSMV Grade
Score 48 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.AScore 79Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.DScore 36Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.CScore 47Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.AScore 73Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.BScore 65Category rank
Our read on BSMV
CBulletShares brought bond-ladder math to ETFs, and this is the municipal rung: roughly 1,500 muni bonds tracking a 2031-dated index, paying monthly. One dated slice you can stack with other years instead of buying bonds one at a time.
The fund seeks exposure to a portfolio of U.S.-dollar municipal securities through its index and invests at least 80% of total assets in municipal bonds included in that index.
Why people hold it
- Defined-maturity design. It tracks a single dated index (Municipal Bond 2031), so it behaves like one rung of a ladder rather than a perpetual bond fund with drifting duration.
- Roughly 1,500 municipal bonds under the hood. That is deep issuer spread for a single-year basket, and it is one of the better-diversified portfolios in its target-maturity peer group.
- The mandate is tight: at least 80% of total assets in municipal bonds from its index, per the fund's own documents. Little room to wander into other asset classes.invesco.com
- Distributions land monthly, and the fund has been running since 2021 inside Invesco's established BulletShares lineup.
Worth knowing
- At 0.18%, it costs nearly double the 0.10% median of its target-maturity cohort, including Invesco's own corporate rungs BSCT and BSCU at 0.10%.
- It is one of the quieter tickers in a crowded field, and thin trading tends to mean wider spreads. Limit orders matter more here than on the lineup's corporate rungs.
- Measured against the whole target-maturity group, it sits in the lower half, mostly on cost and tradability rather than on how the portfolio is built.
BSMV Holdings
- Bonds
- 1,601
- 5%
- USD Pending Dividends
BSMV 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 | BSMV |
|---|---|
| Year to date | −2.1% |
| 1 month | −2.2% |
| 3 months | −2.8% |
| 1 year | −1.2% |
| 3 years | +2.8% |
| 5 years | −1.5% |
| 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 | BSMV |
|---|---|---|
| 2026 YTD | −2.1% | |
| 2025 | +4.1% | |
| 2024 | −0.3% | |
| 2023 | +7.0% | |
| 2022 | −15.3% | |
| 2021 | +0.9% |
BSMV in the news
ETF.net Research hasn’t filed on BSMV yet — coverage lands here as it’s written.
BSMV Dividends
- 3.04%
- $0.61
- $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 | $0.05 |
| Jul 20, 2026 | Jul 24, 2026 | $0.05 |
| 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 | $0.05 |
| 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 |
BSMV Risk
- 5.8%
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.
- −0.25
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.
- −20.7%
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.
- 1.04
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
BSMV Cost
- The middle half of Defined-Maturity Municipal funds
- Median 0.18%
9 of the 32 Defined-Maturity Municipal funds charge less.