Invesco BulletShares 2032 Municipal Bond ETF
$23.85+0.12 (+0.53%)
- 0.18%
- $220M
- −2.4%
- 3.41%
- 0M sh
- $23.65
- low $23.36high $25.57
The ETF.net BSMW Grade
C
Score 48 out of 100
- 18 of 32
Score 48 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.D33 out of 100Rank 27 of 29Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B57 out of 100Rank 12 of 32Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B60 out of 100Rank 17 of 32Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B69 out of 100Rank 10 of 32
Our read on BSMW
CA rung of a municipal bond ladder in ETF form: investment-grade munis effectively maturing in 2032, after which the fund winds up and pays out. One bond's end date, with well over a thousand bonds inside.
The Fund tracks the investment results of the Invesco BulletShares Municipal Bond 2032 Index. The index covers investment-grade, U.S. dollar-denominated municipal bonds maturing or effectively maturing in 2032.
Why people hold it
- It has a finish line. The fund terminates on or about Dec. 15, 2032 and distributes proceeds, unlike an open-ended muni fund that rolls its portfolio forever.invesco.com
- Over a thousand investment-grade munis from US state, agency and local issuers, held via index sampling. Assembling that spread bond by bond is a chore.invesco.com
- Income arrives monthly, and the fund and index rebalance monthly as the portfolio walks toward its 2032 maturity year.invesco.com
Worth knowing
- The 0.18% fee runs above the typical target-maturity bond ETF, including Invesco's own corporate BulletShares rungs like BSCT and BSCU at 0.10%.
- Thinly traded, so bid-ask spreads and order type can matter as much as the headline fee on any given trade.
- In the final year, bonds mature and the portfolio shifts into cash and cash equivalents, so the yield generally drifts toward cash yields.invesco.com
BSMW Holdings
- Bonds
- 1,957
- 6%
- Alabama Toll Road Bridge and Tunnel Authority 5.00% 10/01/2032
BSMW 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.Not enough history yet.
BSMW$9,759
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 | BSMW |
|---|---|
| Year to date | −3.2% |
| 1 month | −1.7% |
| 3 months | −4.6% |
| 1 year | −2.4% |
| 3 years | +2.9% |
| 5 years | — |
| 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 | BSMW |
|---|---|---|
| 2026 YTD | −3.2% | |
| 2025 | +3.4% | |
| 2024 | −0.4% | |
| 2023 | +7.0% |
BSMW in the news
BSMW Dividends
- 3.41%
- $0.81
- $0.07 per share
- Monthly
Distribution history
BSMW Risk
- 6.7%
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.
- −0.22
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.
- −7.6%
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.
- 1.16
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
BSMW Cost
0.18%
BSMW0.18%
- 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
- 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%
- CBSSXInvesco BulletShares 2033 Municipal Bond ETFExpense ratio 0.18%1 year return −2.4%
- CBSMZInvesco BulletShares 2035 Municipal Bond ETFExpense ratio 0.18%1 year return −3.3%
- CMUNBNorthern Trust 2035 Tax-Exempt Distributing Ladder ETFExpense ratio 0.18%1 year return −1.1%