The Invesco BulletShares 2028 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.
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 |
This section compares how balanced and deep this ETF is relative to its peers.
BSMS | ETF Database Category Average | FactSet Segment Average | |
---|---|---|---|
Number of Holdings | 1157 | 984 | 770 |
% of Assets in Top 10 | 7.86% | 16.50% | 16.41% |
% of Assets in Top 15 | 10.56% | 20.90% | 22.62% |
% of Assets in Top 50 | 23.86% | 39.84% | 42.99% |
BSMS | 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 |
This section compares the P/E ratio of this ETF to its peers.
This section compares the dividend yield of this ETF to its peers.
BSMS | ETF Database Category Average | FactSet Segment Average | |
---|---|---|---|
Dividend | $ 0.06 | $ 0.09 | $ 0.09 |
Dividend Date | 2024-10-21 | N/A | N/A |
Annual Dividend Rate | $ 0.66 | $ 1.01 | $ 0.85 |
Annual Dividend Yield | 2.82% | 2.98% | 2.33% |
View charts featuring BSMS price and volume data.
View charts featuring ETF fund flow data.
5 Day Net Flows: 0 1 Month Net Flows: 4.68 M 3 Month Net Flows: 4.68 M 6 Month Net Flows: 25.66 M 1 Year Net Flows: 49.04 M 3 Year Net Flows: 109.21 M 5 Year Net Flows: 122.21 M 10 Year Net Flows: 122.21 MView charts that break down the influence that fund flows and price had on overall assets.
5 Day Net AUM Change: 329.4 KThe adjacent table gives investors an individual Realtime Rating for BSMS 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.
This section compares the cost efficiency of this ETF to its peers.
Max ST Capital Gains Rate | 39.60% |
Max LT Capital Gains Rate | 20.00% |
Tax On Distributions | Ordinary income |
Distributes K1 | No |
BSMS does not have an ESG score. There are no ESG themes that map to this ETF.
This section shows how this ETF has performed relative to its peers. Returns over 1 year are annualized.
BSMS |
ETF Database
Category Average |
Factset Segment
Average |
|
---|---|---|---|
1 Month Return | -0.75% | -1.18% | -1.51% |
3 Month Return | -0.27% | -0.64% | -1.17% |
YTD Return | 0.23% | 1.44% | 0.02% |
1 Year Return | 4.86% | 6.00% | 3.72% |
3 Year Return | -1.60% | -0.61% | -0.53% |
5 Year Return | 0.68% | 0.70% | 0.29% |
The following charts reflect the geographic spread of BSMS's underlying holdings.
The following charts reflect the allocation of BSMS's underlying holdings.
Asset | Percentage |
---|---|
Municipal | 98.57% |
CASH | 1.31% |
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 | 98.57% |
CASH | 1.31% |
This section shows how the volatility of this ETF compares to the peer group ETF Database Category.
5 Day Volatility | 5.57% |
20 Day Volatility | 4.30% |
50 Day Volatility | 3.26% |
200 Day Volatility | 3.13% |
Beta | 0.19 |
Standard Deviation | 0.26% |
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.
A fact sheet is not available for this ETF. Please visit the BSMS ETF home page for more information.
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