Invesco Taxable Municipal Bond ETF (BAB) Performance
BAB total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −1.7% since Dec 31, 2025
- 1 year
- −2.2% total return
- 5 years
- −1.0% a year
- 10 years
- +1.9% a year
- Since first price
- +4.5% a year since 2009
BAB trailing returns vs AGG, TLT, SPY
| Period | BAB total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | +1.1% | +0.7% | +0.9% | +1.5% | −1.0% |
| 3 months | −0.8% | −2.0% | −0.4% | −1.0% | +3.2% |
| 6 months | −2.1% | −4.3% | −1.5% | −3.8% | +7.8% |
| YTD | −1.7% | −5.2% | −1.0% | −3.4% | +12.3% |
| 1 year | −2.2% | −6.4% | −1.1% | −6.9% | +14.4% |
| 3 years | +18.7%+5.9%/yr | +5.1% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | −4.8%−1.0%/yr | −21.2% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| 10 years | +20.6%+1.9%/yr | −16.7% | +14.0%+1.3%/yr | −18.7%−2.0%/yr | +315.9%+15.3%/yr |
| 15 years | +70.3%+3.6%/yr | −7.1% | +32.2%+1.9%/yr | +9.9%+0.6%/yr | +696.0%+14.8%/yr |
| Since inceptionNov 17, 2009 | +110.5%+4.5%/yr | +3.3% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: BAB vs AGG
From Nov 17, 2009: BAB grew to $21,045, AGG to $14,708.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
BAB returns by calendar year
13 of 16 full years positive. Best 2011 (+21.0%), worst 2022 (−19.5%). 2026 is year to date.
BAB annual returns table
| Year | BAB | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | −1.7% | −6.5% | −1.0% | −3.4% | +12.3% |
| 2025 | +8.3% | −4.8% | +7.2% | +4.3% | +17.7% |
| 2024 | +1.0% | −5.5% | +1.3% | −8.1% | +24.9% |
| 2023 | +8.7% | −8.4% | +5.7% | +2.8% | +26.2% |
| 2022 | −19.5% | −22.8% | −13.0% | −31.2% | −18.2% |
| 2021 | +1.0% | −5.4% | −1.8% | −4.6% | +28.7% |
| 2020 | +9.1% | −27.8% | +7.5% | +18.2% | +18.3% |
| 2019 | +10.9% | −4.3% | +8.5% | +14.1% | +31.2% |
| 2018 | +0.9% | −3.3% | +0.1% | −1.6% | −4.6% |
| 2017 | +9.9% | −1.8% | +3.6% | +9.2% | +21.7% |
| 2016 | +4.5% | −8.3% | +2.4% | +1.2% | +12.0% |
| 2015 | −0.2% | −7.4% | +0.5% | −1.8% | +1.2% |
| 2014 | +17.0% | −2.1% | +6.0% | +27.3% | +13.5% |
| 2013 | −5.2% | −12.1% | −2.0% | −13.4% | +32.3% |
| 2012 | +10.7% | −4.7% | +3.8% | +2.6% | +16.0% |
| 2011 | +21.0% | −6.5% | +7.7% | +34.0% | +1.9% |
| 2010 | +9.4% | −6.8% | +6.4% | +9.0% | +15.1% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
BAB largest drawdowns
Now 7.3% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Mar 9, 2020 | −27.8% | Mar 19, 2020 | Jan 27, 2021 | 10 days | 11 months |
| Aug 3, 2021 | −24.9% | Oct 24, 2022 | not yet | 1.2 years | 5.2 years so far |
| May 1, 2013 | −12.1% | Sep 10, 2013 | May 28, 2014 | 4 months | 1.1 years |
| Jul 29, 2016 | −8.3% | Dec 15, 2016 | Aug 23, 2017 | 5 months | 1.1 years |
| Jan 30, 2015 | −7.4% | Jun 10, 2015 | Feb 2, 2016 | 4 months | 1.0 years |
| Aug 26, 2010 | −7.0% | Feb 8, 2011 | May 4, 2011 | 5 months | 8 months |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
BAB risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2009 |
|---|---|---|---|---|
| Annualized return | +4.2% | −1.5% | +1.5% | +4.3% |
| Volatility (annualized) | 7.1% | 8.4% | 7.8% | 7.4% |
| Sharpe ratio | -0.01 | -0.58 | -0.06 | 0.43 |
| Sortino ratio | -0.01 | -0.73 | -0.08 | 0.64 |
| Best month | +5.5% | +5.5% | +5.5% | +5.6% |
| Worst month | −3.4% | −5.6% | −7.8% | −7.8% |
| Best 12 months | +13.3% | +13.3% | +17.8% | +25.0% |
| Worst 12 months | −3.3% | −22.7% | −22.7% | −22.7% |
| Positive months | 61% | 48% | 56% | 57% |
| Beta vs S&P 500 | 0.29 | 0.30 | 0.19 | — |
| Correlation with S&P 500 | 0.50 | 0.56 | 0.38 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
BAB rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 192 | −22.7% | +4.6% | +25.0% | 79% |
| 3-year (a year) | 168 | −6.1% | +5.1% | +13.6% | 80% |
| 5-year (a year) | 144 | −1.5% | +4.9% | +10.3% | 82% |
| 10-year (a year) | 84 | +1.5% | +3.1% | +7.9% | 100% |
Every holding period starting at a month-end since 2009. Returns for 3 years and longer are annualized.
BAB performance overview
Invesco Taxable Municipal Bond ETF (BAB) returned −2.2% over the past year and +1.9% a year over ten years, with distributions reinvested. Since its first recorded price in 2009 it has returned +4.5% a year, turning $10,000 into about $21,045. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −27.8%, from Mar 9, 2020 to Mar 19, 2020, and it took 10 months to get back to the old high. BAB finished 13 of its 16 full calendar years with a gain; the best year was 2011 (+21.0%) and the worst 2022 (−19.5%). Volatility has been 7.4% a year.
Related: BAB chart, BAB dividends, BAB bond profile. See the BAB overview for the latest quote and fund facts.
BAB performance FAQ
What is the BAB return over the past year?
BAB returned −2.2% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 6.4%.
What is the average annual return of BAB?
BAB has returned −1.0% a year over 5 years, +1.9% a year over 10 years, +4.5% a year since November 17, 2009 (total return, distributions reinvested).
How much would $10,000 invested in BAB be worth?
$10,000 invested in BAB at its first recorded close on November 17, 2009 would be worth about $21,045 on October 23, 2026 with distributions reinvested.
What was the worst year for BAB?
The worst calendar year was 2022, with a total return of −19.5%. The best was 2011 at +21.0%.
What is the biggest drawdown of BAB?
The largest peak-to-trough decline was −27.8% between March 9, 2020 and March 19, 2020. It recovered to the old high on January 27, 2021, 10 months after the bottom.
How volatile is BAB?
Over the past 3 years BAB had an annualized volatility of 7.1% and a Sharpe ratio of -0.01 (excess return over 1–3 month T-bills per unit of risk).