Invesco BulletShares 2026 Municipal Bond ETF

Price: $23.47
Change: $0.04 (0.0%)
Category: National Munis
Last Updated:


Issuer Invesco
Brand Invesco
Structure ETF
Expense Ratio 0.18%
ETF Home Page Home page
Inception Sep 25, 2019

Analyst Report

The Invesco BulletShares 2026 Municipal Bond ETF tracks an index of U.S. municipal debt that matures in the indicated year. Municipal bonds are a popular segment because they are generally exempt from exempt from federal taxes. This makes munis especially appealing to investors in high tax brackets. BulletShares are different than traditional bond ETFs because once the scheduled maturity date is reached, the funds distribute the principal back to investors. Traditional bond ETFs continuously buy and sell their underlying bonds to maintain their target maturity. For this reason, BulletShares behave more like a traditional bond than like a bond fund. This appeals to investors who want to lock in a fixed coupon while still gaining the diversification that an ETF portfolio provides. BulletShares aims to invest fixed-rate, investment-grade municipal securities whose distributions are exempt from federal taxes including the alternative minimum tax. Municipal bonds are issued by state and local governments and agencies to pay for everything from road projects to school buildings. They are typically considered a relatively safe investment since the issuer can impose taxes to repay the debt, though defaults are not unheard of. As the maturity date nears, BulletShares ETFs roll the proceeds of their maturing bonds into other securities including cash, cash equivalents, fixed-income ETFs, derivatives and options. Investors should note that some fund distributions may be subject to federal income tax, capital gains or the AMT. As the fund’s portfolio matures in the final year, its yields may decline. Investors who prefer to maintain their exposure to munis can sell their maturing ETF and buy a later-dated BulletShares muni fund. One popular strategy is “laddering” BulletShares across a range of maturity dates, which locks in fixed coupon payments and plans ahead for cash distributions at maturity. This makes them attractive to those who want the guaranteed income combined with the ease and diversification benefits an ETF can provide. For most investors, it’s far easier and cheaper to buy a BulletShares ETF than it is for them to source one or two underlying bonds. BulletShares ETFs debuted in 2010 under the Claymore brand and eventually moved to Invesco when the company acquired Guggenheim’s ETF business in 2018. For investors hoping to build a broad portfolio of tax-exempt municipal securities, BulletShares provide income and diversification for a competitive fee.

ETF Database Themes

Category National Munis
Asset Class Bond
Region (General) North America
Region (Specific) U.S.
Bond Duration All-Term

FactSet Classifications

Segment Fixed Income: U.S. - Government, Local Authority/Municipal Investment Grade Intermediate
Category Government, Local Authority/Municipal
Focus Investment Grade
Niche Intermediate
Strategy Bullet Maturity
Weighting Scheme Market Value

Trading Data

Open - Volume -
Day Lo - Day Hi -
  • Open
  • Volume
  • Day Lo
  • Day Hi
  • 52 Week Lo $22.42
  • 52 Week Hi $23.86
  • AUM $107.7 M
  • Shares 4.6 M

Historical Trading Data

  • 1 Month Avg. Volume 17,248
  • 3 Month Avg. Volume 29,411

Alternative ETFs in the ETF Database National Munis Category

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest VTEB 0.05% $27.2 B 3 M 1.94%
Largest (AUM) MUB 0.07% $32.3 B 2 M 1.56%
Most Liquid (Volume) VTEB 0.05% $27.2 B 3 M 1.94%
Top YTD Performer RVNU 0.15% $112.9 M 17,134 6.98%

Alternative ETFs in the FactSet Fixed Income: U.S. - Government, Local Authority/Municipal Investment Grade Intermediate Segment

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest VTES 0.07% $157.8 M N/A N/A
Largest (AUM) ITM 0.24% $1.8 B 198,151 1.22%
Most Liquid (Volume) ITM 0.24% $1.8 B 198,151 1.22%
Top YTD Performer BSMV 0.18% $23.1 M 7,469 2.26%

Top 15 Holdings

Concentration Analysis

This section compares how balanced and deep this ETF is relative to its peers.

Holdings Comparison

BSMQ ETF Database Category Average FactSet Segment Average
Number of Holdings 874 870 614
% of Assets in Top 10 6.37% 17.43% 13.03%
% of Assets in Top 15 9.10% 21.52% 17.31%
% of Assets in Top 50 24.78% 40.27% 38.01%

Size Comparison

BSMQ ETF Database Category Average FactSet Segment Average
Large (>12.9B) N/A N/A N/A
Mid (>2.7B) N/A N/A N/A
Small (>600M) N/A N/A N/A
Micro (<600M) N/A N/A N/A

BSMQ Valuation

This section compares the P/E ratio of this ETF to its peers.

P/E Ratio
ETF Database Category Average
P/E Ratio
FactSet Segment Average
P/E Ratio

BSMQ Dividend

This section compares the dividend yield of this ETF to its peers.

BSMQ ETF Database Category Average FactSet Segment Average
Dividend $ 0.05 $ 0.08 $ 0.08
Dividend Date 2023-05-22 N/A N/A
Annual Dividend Rate $ 0.50 $ 0.76 $ 0.60
Annual Dividend Yield 2.14% 2.35% 1.89%

BSMQ Price and Volume Charts

View charts featuring BSMQ price and volume data.

BSMQ Fund Flows Charts

View charts featuring ETF fund flow data.

5 Day Net Flows: 0 1 Month Net Flows: 0 3 Month Net Flows: 7.13 M 6 Month Net Flows: 33.08 M 1 Year Net Flows: 74.74 M 3 Year Net Flows: 102.21 M 5 Year Net Flows: 102.21 M 10 Year Net Flows: 102.21 M

BSMQ Price vs Flows AUM Influence Charts

View charts that break down the influence that fund flows and price had on overall assets.

5 Day Net AUM Change: 450.8 K
1 Month Net AUM Change: -736 K
3 Month Net AUM Change: 9.84 M
6 Month Net AUM Change: 32.53 M
1 Year Net AUM Change: 71.78 M
3 Year Net AUM Change: 97.75 M
5 Year Net AUM Change: 97.72 M
10 Year Net AUM Change: 97.72 M

Realtime Rating

The adjacent table gives investors an individual Realtime Rating for BSMQ on several different metrics, including liquidity, expenses, performance, volatility, dividend, concentration of holdings in addition to an overall rating. The "A+ Metric Rated ETF" field, available to ETF Database Pro members, shows the ETF in the National Munis with the highest Metric Realtime Rating for each individual field. To view all of this data, sign up for a free 14-day trial for ETF Database Pro. To view information on how the ETF Database Realtime Ratings work, click here.

Metric Metric Realtime Rating A+ Metric Rated ETF
Liquidity C+ SHM
Expenses A- VTEB

A+ Overall Rated ETF:

BSMQ Expenses & Fees

This section compares the cost efficiency of this ETF to its peers.

Expenses Ratio Analysis

Expense Ratio
ETF Database Category Average
Expense Ratio
FactSet Segment Average
Expense Ratio

Tax Analysis

Max ST Capital Gains Rate 39.60%
Max LT Capital Gains Rate 20.00%
Tax On Distributions Ordinary income
Distributes K1 No
ESG Themes and Scores

BSMQ does not have an ESG score. There are no ESG themes that map to this ETF.

BSMQ Performance

This section shows how this ETF has performed relative to its peers. Returns over 1 year are annualized.

BSMQ ETF Database
Category Average
Factset Segment
1 Month Return -0.58% -0.76% -0.98%
3 Month Return 0.92% 1.16% 0.95%
YTD Return 0.85% 1.47% 0.96%
1 Year Return N/A 0.01% 0.44%
3 Year Return -0.57% -0.43% -0.44%
5 Year Return N/A 0.64% 0.18%

Geographic Exposure

The following charts reflect the geographic spread of BSMQ's underlying holdings.

Holdings Analysis

The following charts reflect the allocation of BSMQ's underlying holdings.

Asset Percentage
Municipal 98.83%
CASH 0.68%
Bond Sector Percentage
Maturity Percentage
Less Than 1 Year 0.0%
1-3 Years 0.0%
3-5 Years 0.0%
5-7 Years 0.0%
7-10 Years 0.0%
10-15 Years 0.0%
15-20 Years 0.0%
20-30 Years 0.0%
30+ Years 0.0%
Asset Percentage
Municipal 98.83%
CASH 0.68%

BSMQ Technicals

Volatility Analysis

This section shows how the volatility of this ETF compares to the peer group ETF Database Category.

5 Day Volatility 18.71%
20 Day Volatility 2.65%
50 Day Volatility 2.74%
200 Day Volatility 3.04%
Beta 0.14
Standard Deviation 0.36%
5 Day Volatility
33 of 54

20 Day Volatility
39 of 54

50 Day Volatility
37 of 54

200 Day Volatility
37 of 53

27 of 53

Standard Deviation
38 of 52


  • 20 Day MA $23.44
  • 60 Day MA $23.57
  • MACD 15 Period 0.07
  • MACD 100 Period -0.08
  • Williams % Range 10 Day 20.00
  • Williams % Range 20 Day 47.63
  • RSI 10 Day 53
  • RSI 20 Day 48
  • RSI 30 Day 49
  • Ultimate Oscillator 59

Bollinger Bands

  • Lower Bollinger (10 Day) $23.27
  • Upper Bollinger (10 Day) $23.52
  • Lower Bollinger (20 Day) $23.25
  • Upper Bollinger (20 Day) $23.64
  • Lower Bollinger (30 Day) $23.28
  • Upper Bollinger (30 Day) $23.69

Support & Resistance

  • Support Level 1 $23.43
  • Support Level 2 $23.38
  • Resistance Level 1 $23.52
  • Resistance Level 2 $23.56


  • Stochastic Oscillator %D (1 Day) 59.25
  • Stochastic Oscillator %D (5 Day) 71.16
  • Stochastic Oscillator %K (1 Day) 63.06
  • Stochastic Oscillator %K (5 Day) 68.25


  • Tracking Difference Median (%) n/a
  • Tracking Difference Max Upside (%) n/a
  • Tracking Difference Max Downside (%) n/a
  • Median Premium Discount (%) 0.26
  • Maximum Premium Discount (%) 0.73
  • Average Spread (%) 2.80
  • Average Spread ($) 2.80

Financial Advisor Report

ETF Database's Financial Advisor Reports are designed as an easy handout for clients to explain the key information on a fund. Includes new analyst insights and classification data.

Fact Sheet

A fact sheet is not available for this ETF. Please visit the BSMQ ETF home page for more information.

Data Lineage

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