Invesco BulletShares (R) 2026 Municipal Bond ETF

10-Year Study

BSMQ.US · · US · ETF

Executive Summary: Invesco BulletShares (R) 2026 Municipal Bond ETF has compounded at 1.1% annually over the last 10 years, with a maximum drawdown of 11.4% and an annualized volatility of 4.2%.

1Y CAGR
+3.0%
3Y CAGR
+2.9%
5Y CAGR
+0.3%
10Y CAGR
+1.1%

History & Riski10-year historical performance analysis including CAGR, Max Drawdown, Sharpe & Sortino ratios, annual returns, and rolling volatility — all computed from daily market data.

10-Year Growth of $10,000

Max DrawdownMax DrawdownThe largest peak-to-trough decline in the asset's value over the measurement period.Click for full definition →
11.4%
Sharpe RatioSharpe RatioRisk-adjusted return: how much excess return you earn per unit of total risk (volatility).Click for full definition →
-0.70
Sortino RatioSortino RatioLike Sharpe, but only penalizes downside volatility — a more accurate risk measure for asymmetric return distributions.Click for full definition →
-0.87
Ann. VolatilityAnnualized VolatilityThe annualized standard deviation of an asset's returns — a measure of how much prices fluctuate.Click for full definition →
4.7%
Best YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2020 · +5.2%
Worst YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2022 · -7.6%
% Positive Years% Positive YearsThe percentage of calendar years in the measurement period where the asset delivered a positive return.Click for full definition →
86%

Annual Returns

Rolling 12-Month Returns

Rolling 12-Month Annualised Volatility

Historical Drawdowns

Monthly Returns

Monthly Returns Heatmap

YearJanFebMarAprMayJunJulAugSepOctNovDecAnn.
20260.20.2-0.1-0.0————————0.3%
20250.50.6-0.3-0.70.50.6-0.10.50.60.20.40.23.1%
2024-0.20.3-0.2-0.40.00.80.80.50.5-0.60.8-0.22.0%
20231.9-1.91.8-0.5-0.70.60.1-0.4-1.3-0.43.11.33.6%
2022-2.8-0.3-2.7-2.31.1-1.22.3-2.0-3.40.13.50.1-7.6%
20210.7-1.60.61.00.20.20.6-0.2-0.6-0.30.40.01.0%
20202.31.3-3.9-2.73.51.52.1-0.1-0.3-0.21.50.55.2%
2019—————————-0.30.30.30.2%

Risk X-RayiA 19-factor macroeconomic risk decomposition showing exactly which market forces (equity beta, rates, inflation, credit, commodity, crypto) drive this asset's volatility. Powered by multivariate regression against daily factor returns.

Risk Profile Insight: This asset has an estimated annualized volatility of 4.2%. The dominant macroeconomic risk driver is LQD.US, accounting for 53.2% of variance. Idiosyncratic stock-specific factors contribute 23.2%.

10-Year Historical Price Series (Growth of $10,000)
DateSimulated Value
2019-09-0110000
2019-10-019967.205058836678
2019-11-019993.639489611007
2019-12-0110024.099141509398
2020-01-0110250.076864502342
2020-02-0110382.741299090541
2020-03-019980.244409547984
2020-04-019708.303671100817
2020-05-0110044.266125563763
2020-06-0110192.171258025111
2020-07-0110407.625828386246
2020-08-0110395.472756915522
2020-09-0110365.841980499248
2020-10-0110342.669996664494
2020-11-0110497.302675667459
2020-12-0110550.270689162562
2021-01-0110622.079311989863
2021-02-0110450.16288316465
2021-03-0110510.244613940155
2021-04-0110614.898623657915
2021-05-0110632.108444397283
2021-06-0110658.319348415154
2021-07-0110721.485226577419
2021-08-0110702.61243635032
2021-09-0110640.538969106776
2021-10-0110611.330893093762
2021-11-0110658.276730473264
2021-12-0110660.743352579539
2022-01-0110362.888296199915
2022-02-0110330.303835484307
2022-03-0110053.835158149528
2022-04-019820.559330045953
2022-05-019926.768459765835
2022-06-019805.056836244037
2022-07-0110031.632080177395
2022-08-019835.537362236417
2022-09-019503.706238875304
2022-10-019508.677752260164
2022-11-019843.865255983797
2022-12-019849.21424256828
2023-01-0110039.837338622598
2023-02-019846.235335405378
2023-03-0110027.200683974479
2023-04-019980.009575990616
2023-05-019908.240961843461
2023-06-019970.896294456928
2023-07-019979.307684580263
2023-08-019936.82455454466
2023-09-019812.205343681086
2023-10-019773.309078795792
2023-11-0110076.769699165166
2023-12-0110204.132983634276
2024-01-0110183.164956223112
2024-02-0110211.21191075803
2024-03-0110188.733120794468
2024-04-0110149.341096176953
2024-05-0110151.009284188178
2024-06-0110229.182766174052
2024-07-0110308.502583821446
2024-08-0110357.915913061137
2024-09-0110410.068097382868
2024-10-0110346.419505797126
2024-11-0110428.250303000521
2024-12-0110407.957204628308
2025-01-0110463.230066001277
2025-02-0110526.605554857335
2025-03-0110496.87736600245
2025-04-0110427.656261075772
2025-05-0110481.558390276847
2025-06-0110549.083475066982
2025-07-0110541.45834248387
2025-08-0110593.574866895035
2025-09-0110653.399150511348
2025-10-0110670.125388073326
2025-11-0110709.019043696873
2025-12-0110732.5876353174
2026-01-0110757.09817042915
2026-02-0110782.156441767147
2026-03-0110773.036410943068
2026-04-0110768.47639553103
Annual Return Matrix
YearAnnual Return
20200.052490656788729106
20210.010471073839883216
2022-0.07612312604963856
20230.03603523411360454
20240.019974673136946786
20250.031190600067488194
20260.0033439056295734293
Total Factor Risk
0.041903259898672586
VTI.US Exposure
0.12147843826323035
VEA.US Exposure
-0.03167295970715315
VWO.US Exposure
0.020465940970150743
QQQ.US Exposure
-0.09290075301694922
VTV.US Exposure
-0.0462443265288145
IJR.US Exposure
0.01266743725625181
QUAL.US Exposure
0.06783717772180453
SHV.US Exposure
0.18483316178942893
TLT.US Exposure
-0.060255922033449205
LQD.US Exposure
0.5318960556899729
HYG.US Exposure
0.03350584183539425
GLD.US Exposure
-0.0034088462434439513
USO.US Exposure
-0.00029047576983260456
VNQ.US Exposure
-0.006003560678393479
BTC-USD.CC Exposure
0.0047328440589064925
CPER.US Exposure
0.007730862722825897
VIX.INDX Exposure
-0.010265352582448345
UUP.US Exposure
0.009765741847251274
TIP.US Exposure
0.02375771394042736
Idiosyncratic Exposure
0.23237098046484003
Value Score
50
Growth Score
50
Profit Score
37.5
Health Score
23.6
Yield Score
33
Moat Score
40

Factor Risk Decomposition

Share of annualised volatility attributable to each macro factor.

Total Est. Vol
4.2%

FundamentalsiCompany financial health metrics: P/E valuation, dividend yield, Piotroski F-Score (9-point profitability signal), Altman Z-Score (bankruptcy risk proxy), and a radar chart across 6 fundamental dimensions. Note: ETFs may show N/A for some metrics.

Fundamental Dimensions

Core Valuation

P/E Ratio (TTM)P/E RatioPrice-to-Earnings ratio — the market price of a stock divided by its earnings per share, a key valuation measure.Click for full definition →N/A
Dividend YieldDividend YieldAnnual dividend paid per share divided by the current share price — expressed as a percentage income return.Click for full definition →2.75%
Market Cap$0
Piotroski F-ScorePiotroski F-ScoreA 9-point scoring system evaluating a company's financial strength across profitability, leverage, and operating efficiency.Click for full definition →
9-point profitability signal
0.0/ 9
Weak
Altman Z-ScoreAltman Z-ScoreA bankruptcy prediction model that combines 5 financial ratios into a single score indicating financial distress risk.Click for full definition →
Bankruptcy risk proxy
1.18
Distress Zone
Income Simulation

Based on $10,000 initial investment.

Total Income Generated
$51
Avg Yield on Cost
0.51%
Annual Income Simulation Table
Historical Realised Yields
YearAnnual PayoutYield on CostQuality
2026$51.050.51%Solid

Momentum & MacroiPrice momentum indicators relative to key technical levels: distance from 50-Day SMA (intermediate trend), 200-Day SMA (long-term trend), 52-Week High (bullish proximity), and Beta (market sensitivity coefficient).

vs 50-Day SMAMoving Averages (SMA)A rolling average of an asset's price over a defined window — used to identify trends and momentum signals.Click for full definition →
-0.0%
Above/below 50-day moving average
vs 200-Day SMAMoving Averages (SMA)A rolling average of an asset's price over a defined window — used to identify trends and momentum signals.Click for full definition →
+0.8%
Above/below 200-day moving average
vs 52-Week High52-Week HighThe highest price an asset reached in the past 52 weeks — a key reference for momentum and valuation context.Click for full definition →
0.3% from high
Distance from 52-week high
BetaBetaA measure of an asset's sensitivity to broad market movements relative to a benchmark (e.g. S&P 500).Click for full definition →
0.42
Market sensitivity coefficient

Frequently Asked Questions & Methodology

Is Invesco BulletShares (R) 2026 Municipal Bond ETF a high-risk investment?

Invesco BulletShares (R) 2026 Municipal Bond ETF (BSMQ.US) has an annualized volatility of 4.2% and experienced a maximum drawdown of 11.4% over the last 10 years. Its primary macro risk driver is LQD.US.

What is the 10-year return of BSMQ.US?

Over the past 10 years, BSMQ.US has generated a Compound Annual Growth Rate (CAGR) of 1.1%. It has had a positive return in 86% of the years measured.

Data Methodology & Trust

The risk and return information on this page is pre-calculated mathematically using daily market data spanning a 10-year period. Fundamentals (such as P/E Ratio, Market Cap, and Dividend Yield) represent trailing averages and may not immediately reflect real-time live market fluctuations. Advanced scoring models like the Piotroski F-Score and Altman Z-Score are proxies applied to publicly available trailing-twelve-month financial statements and may not account for recent off-balance-sheet events, qualitative company shifts, or sector-specific capital structures. Macroeconomic factor exposures are estimated via multivariate regression against standard market indices. This data is provided for quantitative insight and backtesting research, and should not be misconstrued as tailored financial advice.

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