Invesco BulletShares 2031 Municipal Bond ETF (BSMV) Performance
BSMV total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −1.6% since Dec 31, 2025
- 1 year
- −1.0% total return
- 5 years
- −1.4% a year
- Since first price
- −1.3% a year since 2021
BSMV trailing returns vs AGG, TLT, SPY
| Period | BSMV total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | +1.2% | +1.0% | +0.9% | +1.5% | −1.0% |
| 3 months | −0.9% | −1.7% | −0.4% | −1.0% | +3.2% |
| 6 months | −2.0% | −3.5% | −1.5% | −3.8% | +7.8% |
| YTD | −1.6% | −4.0% | −1.0% | −3.4% | +12.3% |
| 1 year | −1.0% | −3.8% | −1.1% | −6.9% | +14.4% |
| 3 years | +12.0%+3.8%/yr | +2.4% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | −6.8%−1.4%/yr | −18.8% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| Since inceptionSep 21, 2021 | −6.6%−1.3%/yr | −18.7% | — | — | — |
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: BSMV vs AGG
From Sep 21, 2021: BSMV grew to $9,344, AGG to $9,762.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
BSMV returns by calendar year
2 of 4 full years positive. Best 2023 (+7.0%), worst 2022 (−15.1%). 2026 is year to date.
BSMV annual returns table
| Year | BSMV | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | −1.6% | −6.5% | −1.0% | −3.4% | +12.3% |
| 2025 | +4.0% | −4.7% | +7.2% | +4.3% | +17.7% |
| 2024 | −0.3% | −3.3% | +1.3% | −8.1% | +24.9% |
| 2023 | +7.0% | −7.8% | +5.7% | +2.8% | +26.2% |
| 2022 | −15.1% | −20.2% | −13.0% | −31.2% | −18.2% |
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.
BSMV largest drawdowns
Now 7.3% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Dec 16, 2021 | −20.5% | Oct 25, 2022 | not yet | 10 months | 4.9 years so far |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
BSMV risk statistics
| Statistic | 3 years | 5 years |
|---|---|---|
| Annualized return | +2.8% | −1.8% |
| Volatility (annualized) | 5.9% | 8.3% |
| Sharpe ratio | -0.24 | -0.63 |
| Sortino ratio | -0.36 | -0.79 |
| Best month | +6.7% | +6.7% |
| Worst month | −3.6% | −5.5% |
| Best 12 months | +9.7% | +9.7% |
| Worst 12 months | −2.5% | −19.6% |
| Positive months | 58% | 50% |
| Beta vs S&P 500 | 0.30 | 0.34 |
| Correlation with S&P 500 | 0.63 | 0.65 |
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.
BSMV rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 50 | −19.6% | +2.4% | +9.7% | 78% |
| 3-year (a year) | 26 | −3.3% | +2.5% | +5.6% | 77% |
| 5-year (a year) | 2 | −1.8% | −1.4% | −1.1% | 0% |
Every holding period starting at a month-end since 2021. Returns for 3 years and longer are annualized.
BSMV performance overview
Invesco BulletShares 2031 Municipal Bond ETF (BSMV) returned −1.0% over the past year and −1.4% a year over five years, with distributions reinvested. Since its first recorded price in 2021 it has returned −1.3% a year, turning $10,000 into about $9,344. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −20.5%, from Dec 16, 2021 to Oct 25, 2022; the fund has not yet regained that high. BSMV finished 2 of its 4 full calendar years with a gain; the best year was 2023 (+7.0%) and the worst 2022 (−15.1%). Volatility has been 8.3% a year.
Related: BSMV chart, BSMV holdings, BSMV dividends, BSMV bond profile. See the BSMV overview for the latest quote and fund facts.
BSMV performance FAQ
What is the BSMV return over the past year?
BSMV returned −1.0% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 3.8%.
What is the average annual return of BSMV?
BSMV has returned −1.4% a year over 5 years, −1.3% a year since September 21, 2021 (total return, distributions reinvested).
How much would $10,000 invested in BSMV be worth?
$10,000 invested in BSMV at its first recorded close on September 21, 2021 would be worth about $9,344 on October 23, 2026 with distributions reinvested.
What was the worst year for BSMV?
The worst calendar year was 2022, with a total return of −15.1%. The best was 2023 at +7.0%.
What is the biggest drawdown of BSMV?
The largest peak-to-trough decline was −20.5% between December 16, 2021 and October 25, 2022. It has not yet recovered to that high; it is 7.3% below its peak.
How volatile is BSMV?
Over the past 3 years BSMV had an annualized volatility of 5.9% and a Sharpe ratio of -0.24 (excess return over 1–3 month T-bills per unit of risk).