BSMS vs IBMO

BSMSBInvesco BulletShares 2028 Municipal Bond ETF

IBMOAiShares iBonds Dec 2026 Term Muni Bond ETF

In short

BSMS A 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.

IBMO —No data

Stated mandate

BSMS 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.

IBMO —No data

Why people hold it

• BSMS 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

IBMO —No data

Worth knowing

• BSMS 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.

IBMO —No data

Full BSMS profile⁠

Full IBMO profile⁠