BSMT vs IBMO: Grades, Fees and Holdings Compared

Invesco BulletShares 2029 Municipal Bond ETF

BSMTBNasdaq

iShares iBonds Dec 2026 Term Muni Bond ETF

IBMOACboe

Overlap

No data

Expense ratio

IBMO −0.08pt a year

BSMT0.18%IBMO0.10%

Avg volume · 30D

IBMO 1.03×the volume

BSMT79.8KIBMO82.4K

5Y return · a year

IBMO +1.0pt

BSMT−0.1%IBMO+0.9%

BSMT vs IBMO Performance

Oct 29, 2021 – Oct 30, 2026

−0.5%BSMT+4.6%IBMO

Expense ratio: BSMT 0.18%; IBMO 0.10%, better
Fund size: BSMT $309M; IBMO $503M
1Y total return: BSMT +1.4%; IBMO +2.7%, better
Yield (12M): BSMT 2.77%, better; IBMO 2.41%
Holdings: BSMT 2030; IBMO 295
Avg volume (30D): BSMT 79.8K sh; IBMO 82.4K sh, better
NAV per share: BSMT $22.70; IBMO $25.66
52W range

ETF.net Grade

Pillar letters and Scores for BSMT, IBMO, with each pillar’s weight
Pillar	BSMT	IBMO
Cost30% weight	C45	A87Higher
Mission25% weight	A100	A100
Risk15% weight	B55	A72Higher
Tradability15% weight	B65	A89Higher
Holdings10% weight	A77Higher	F21
Durability5% weight	A76	A94Higher

Rank among Defined-Maturity Municipal funds

How we build Categories ›

Same Category. BSMT and IBMO are both graded against the same 32 Defined-Maturity Municipal funds, so their Grades compare head to head.

Defined-Maturity Municipal⁠

Category · 32 funds

See all 32 ›

IBMO ranks 4th and BSMT 7th of 32 funds in the Defined-Maturity Municipal Category.

Rank 1AIBMPiShares iBonds Dec 2027 Term Muni Bond ETFScore 88
Rank 2AIBMQiShares iBonds Dec 2028 Term Muni Bond ETFScore 87
Rank 3AIBMRiShares iBonds Dec 2029 Term Muni Bond ETFScore 83
Rank 4AIBMOiShares iBonds Dec 2026 Term Muni Bond ETFScore 82
Rank 5AIBMTiShares iBonds Dec 2031 Term Muni Bond ETFScore 73
Rank 6AIBMUiShares iBonds Dec 2032 Term Muni Bond ETFScore 71
Rank 7BBSMTInvesco BulletShares 2029 Municipal Bond ETFScore 67
Rank 8BBSMRInvesco BulletShares 2027 Municipal Bond ETFScore 66

Our read on each fund

ETF.net Research

BSMTBInvesco BulletShares 2029 Municipal Bond ETF

IBMOAiShares iBonds Dec 2026 Term Muni Bond ETF

In short

BSMT A 2029 rung of a municipal bond ladder, wrapped in an ETF. It holds roughly 1,900 munis that all mature around the same time, then terminates in December 2029 and pays out: a bond-like ending with fund-like diversification.

IBMO No data

Stated mandate

BSMT The fund seeks to track an index measuring US dollar-denominated municipal securities issued by states, state agencies, and local governments. It invests at least 80% of assets in municipal bonds comprising that index.

IBMO No data

Why people hold it

BSMT Real end date. The fund is built to terminate on or about Dec. 15, 2029 and make a final distribution, so it behaves like a maturing bond instead of a portfolio that rolls forever.invesco.com invesco.com 2
Roughly 1,900 municipal bonds from states, state agencies and local governments, so no single issuer carries the rung. Buying that spread of individual munis yourself is a chore.
Muni interest is generally free of federal income tax, and the fund pays monthly rather than on scattered bond coupon dates.prnewswire.com
Part of the original 2019 muni BulletShares launch, the suite that brought defined maturity to munis. Ladder plumbing with years of live track record behind it.prnewswire.com

IBMO No data

Worth knowing

BSMT At 0.18%, the fee sits above the target-maturity cohort median of 0.10%, and above Invesco's own 2029 corporate rung BSCT at 0.10%. Munis cost more to assemble; you pay for it.
Unlike a single bond, the payout mix is not fixed upfront: Invesco notes income distributions vary and the split between distributions and liquidation proceeds is not predictable at purchase.invesco.com
One maturity year, one slice of the curve. Invesco designs these to be stacked across years into a ladder, not used as a standalone core muni holding.invesco.com

IBMO No data

Full BSMT profile⁠

Full IBMO profile⁠

BSMT vs IBMO Holdings

How BSMT and IBMO differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Asset classFixed Income100%
Countryby domicile100%

Sector

No Sector split for BSMT and IBMO.

Country, concentration and asset class

Country by domicile

Country weights in BSMT and IBMO, widest gap first
Country	More in BSMTMore in IBMO	BSMT	IBMO
United States	Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

BSMT4.9%
IBMO44.2%

Securities held

BSMT1,543
IBMO201

Asset class

BSMT: Fixed Income
IBMO: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. BSMT holds 1,543 securities, IBMO 201.

All 2,028 BSMT holdings⁠All 257 IBMO holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BSMT vs IBMO Cost

Overpaying BSMT vs IBMO

$1,643

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

BSMT 0.18%
$3,749
IBMO 0.10%
$2,106

Amount$10,000

Years30 years

Cost over time

BSMT 0.18%
IBMO 0.10%
Overpaying

Year by year

Year	BSMT	IBMO	Overpaying
10	$328	$183	$145
20	$1,281	$717	$564
30	$3,749	$2,106	$1,643

Expense ratio

0.18%BSMT
0.10%IBMO, cheaper

IBMO0.10%BSMT0.18%

0.10%0.20%

Middle half of Defined-Maturity Municipal funds
Median 0.18%

IBMO cheapest of 32 funds

BSMT 10th cheapest of 32 funds

BSMT vs IBMO Dividends

Last 12 months to Oct 30, 2026

Yield (12M): BSMT 2.77%, better; IBMO 2.41%
Payout (12M): BSMT $0.63; IBMO $0.62
Last payment: BSMT $0.06; IBMO $0.06
Ex-dividend: BSMT Oct 19, 2026; IBMO Oct 1, 2026
Paid on: BSMT Oct 23, 2026; IBMO Oct 6, 2026
Frequency: BSMT Monthly; IBMO Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

BSMTMonthly · 46 paymentsAll BSMT payments⁠

IBMOMonthly · 45 paymentsAll IBMO payments⁠

BSMT vs IBMO Risk

Fall from peak · 5 years

BSMT
IBMO

Risk facts

VolatilityStd dev, 3 years: BSMT 4.7%IBMO 1.6%, better
Return per unit of riskSharpe ratio, 3 years: BSMT −0.06, betterIBMO −0.66
Worst fallMax drawdown, 5 years: BSMT −15.6%IBMO −8.3%, better
Market sensitivityBeta, 5 years: BSMT 0.78IBMO 0.27; Market = 1

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