---
ticker: "BSMZ"
name: "Invesco BulletShares 2035 Municipal Bond ETF"
url: "https://etf.net/etf/BSMZ"
grade: "C"
score: 44
graded_at: "2026-10-12"
category: "Defined-Maturity Municipal"
category_rank: "20 of 32"
methodology: "https://etf.net/methodology"
---

# BSMZ: Invesco BulletShares 2035 Municipal Bond ETF

Grade **C**, Score 44 of 100. Rank 20 of 32 in Defined-Maturity Municipal.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 45 | 10 of 32 |
| Mission | Not scored | — |
| Risk | 37 | 21 of 29 |
| Tradability | 37 | 24 of 32 |
| Holdings | 70 | 10 of 32 |
| Durability | 41 | 20 of 32 |

## Top holdings

The fund holds 1832 positions. These are the largest 30, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | — | USD Pending Dividends | 1.22% |
| 2 | — | New York Liberty Development Corp 5.25% 10/01/2035 | 0.62% |
| 3 | — | Massachusetts School Building Authority 5.00% 02/15/2055 | 0.40% |
| 4 | — | Chicago O'Hare International Airport 5.25% 01/01/2061 | 0.39% |
| 5 | — | City of New York NY 5.25% 02/01/2050 | 0.39% |
| 6 | — | Health & Educational Facilities Authority of the State of Missouri 5.00% 11/15/2035 | 0.38% |
| 7 | — | North Texas Municipal Water District Water System Revenue 5.00% 09/01/2043 | 0.37% |
| 8 | — | Ohio Water Development Authority Water Pollution Control Loan Fund 5.00% 12/01/2035 | 0.36% |
| 9 | — | Ohio State University/The 5.00% 06/01/2035 | 0.36% |
| 10 | — | State of California 5.00% 03/01/2055 | 0.34% |
| 11 | — | Omaha Public Facilities Corp 5.00% 04/15/2050 | 0.34% |
| 12 | — | New York City Transitional Finance Authority Future Tax Secured Revenue 5.50% 05/01/2050 | 0.32% |
| 13 | — | New York City Municipal Water Finance Authority 5.25% 06/15/2050 | 0.31% |
| 14 | — | Texas Water Development Board 5.00% 10/15/2042 | 0.31% |
| 15 | — | New York State Dormitory Authority 5.00% 03/15/2054 | 0.30% |
| 16 | — | Orange County Health Facilities Authority 5.00% 10/01/2042 | 0.29% |
| 17 | — | California Health Facilities Financing Authority 5.00% 12/01/2035 | 0.29% |
| 18 | — | Los Angeles Department of Water & Power Water System Revenue 5.00% 07/01/2049 | 0.29% |
| 19 | — | California Educational Facilities Authority 5.00% 10/01/2055 | 0.29% |
| 20 | — | Orange County Health Facilities Authority 5.25% 10/01/2056 | 0.28% |
| 21 | — | New York State Thruway Authority 5.00% 03/15/2055 | 0.28% |
| 22 | — | City of New York NY 5.00% 02/01/2035 | 0.27% |
| 23 | — | University of California 5.00% 05/15/2039 | 0.27% |
| 24 | — | Pennsylvania Higher Educational Facilities Authority 5.50% 08/15/2055 | 0.27% |
| 25 | — | Northwest Independent School District 5.25% 02/15/2055 | 0.26% |
| 26 | — | New York City Transitional Finance Authority Future Tax Secured Revenue 5.25% 05/01/2055 | 0.26% |
| 27 | — | California State University 5.00% 11/01/2043 | 0.25% |
| 28 | — | Salt River Project Agricultural Improvement & Power District 5.00% 01/01/2035 | 0.25% |
| 29 | — | New York City Transitional Finance Authority Future Tax Secured Revenue 5.25% 05/01/2048 | 0.25% |
| 30 | — | New York City Transitional Finance Authority Future Tax Secured Revenue 5.25% 05/01/2047 | 0.25% |

Source: etf.net, https://etf.net/etf/BSMZ. Please cite the page URL.