Invesco BulletShares 2032 Municipal Bond ETF

10-Year Study

BSMW.US · · US · ETF

Executive Summary: Invesco BulletShares 2032 Municipal Bond ETF has compounded at -7.6% annually over the last 10 years, with a maximum drawdown of 75.6% and an annualized volatility of 113.6%.

1Y CAGR
+3.7%
3Y CAGR
+2.4%
5Y CAGR
-19.6%
10Y CAGR
-7.6%

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 →
75.6%
Sharpe RatioSharpe RatioRisk-adjusted return: how much excess return you earn per unit of total risk (volatility).Click for full definition →
-0.02
Sortino RatioSortino RatioLike Sharpe, but only penalizes downside volatility — a more accurate risk measure for asymmetric return distributions.Click for full definition →
-0.01
Ann. VolatilityAnnualized VolatilityThe annualized standard deviation of an asset's returns — a measure of how much prices fluctuate.Click for full definition →
36.9%
Best YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2021 · +45.0%
Worst YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2023 · -69.6%
% Positive Years% Positive YearsThe percentage of calendar years in the measurement period where the asset delivered a positive return.Click for full definition →
57%

Annual Returns

Rolling 12-Month Returns

Rolling 12-Month Annualised Volatility

Historical Drawdowns

Monthly Returns

Monthly Returns Heatmap

YearJanFebMarAprMayJunJulAugSepOctNovDecAnn.
20261.21.1-2.70.7-1.0———————-0.8%
20250.31.2-2.6-0.6-0.31.2-0.40.92.31.00.20.13.4%
2024-0.5-0.4-0.5-1.7-0.31.60.80.61.1-1.82.1-0.70.4%
20232.27.0-73.4-0.0-1.01.30.3-2.1-3.2-1.47.53.4-69.6%
20226.0-0.62.2-5.21.5-12.45.9-4.0-7.712.2-4.34.9-4.1%
20212.8——17.53.51.6-2.52.56.35.6-3.25.045.0%
202010.43.5-34.724.70.53.21.312.0-6.70.36.02.811.7%
2019————————0.610.15.23.620.7%

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 113.6%. The dominant macroeconomic risk driver is VTI.US, accounting for 64.7% of variance. Idiosyncratic stock-specific factors contribute 9.3%.

10-Year Historical Price Series (Growth of $10,000)
DateSimulated Value
2019-08-0110000
2019-09-0110057.471035481536
2019-10-0111072.796886314265
2019-11-0111647.509956553222
2019-12-0112068.965423606081
2020-01-0113325.95039826213
2020-02-0113797.91908037654
2020-03-019003.831462708184
2020-04-0111226.053584359159
2020-05-0111283.525524981897
2020-06-0111647.509956553222
2020-07-0111800.765749456916
2020-08-0113218.391564083997
2020-09-0112337.164192614047
2020-10-0112375.478819695873
2020-11-0113122.604996379434
2020-12-0113486.590333091963
2021-01-0113869.730267921796
2021-04-0116302.681028240404
2021-05-0116877.39319333816
2021-06-0117145.59377262853
2021-07-0116724.140115858074
2021-08-0117145.59377262853
2021-09-0118218.390658942797
2021-10-0119246.406589427952
2021-11-0118621.777697320784
2021-12-0119558.721940622738
2022-01-0120729.90224475018
2022-02-0120612.78602461984
2022-03-0121066.98769007965
2022-04-0119967.476466328746
2022-05-0120273.101013758147
2022-06-0117766.97863866763
2022-07-0118806.759594496743
2022-08-0118052.22845763939
2022-09-0116666.73244026068
2022-10-0118699.922157856625
2022-11-0117889.230629978276
2022-12-0118765.35300506879
2023-01-0119172.851194786388
2023-02-0120522.0528602462
2023-03-015465.517323678494
2023-04-015464.520758870383
2023-05-015409.567328023171
2023-06-015480.1336075307745
2023-07-015494.939713251268
2023-08-015380.121210716871
2023-09-015205.698641564084
2023-10-015132.000301230991
2023-11-015516.674317161477
2023-12-015704.835244026068
2024-01-015678.30763794352
2024-02-015658.139064446053
2024-03-015632.536839971035
2024-04-015539.12075307748
2024-05-015524.243464156409
2024-06-015613.649564083997
2024-07-015661.294853005069
2024-08-015693.754392469225
2024-09-015756.300698044895
2024-10-015651.685120926865
2024-11-015771.510175235336
2024-12-015730.3900130340335
2025-01-015746.975698769008
2025-02-015813.745540912381
2025-03-015663.9049036929755
2025-04-015631.730097031137
2025-05-015617.564640115858
2025-06-015685.473413468501
2025-07-015664.403186097031
2025-08-015715.678818247647
2025-09-015849.479507603186
2025-10-015907.375177407675
2025-11-015918.669578566256
2025-12-015927.164107168719
2026-01-015997.0660101375815
2026-02-016063.622302679218
2026-03-015897.290890658943
2026-04-015937.390760318609
2026-05-015879.732367849385
Annual Return Matrix
YearAnnual Return
20200.11746035055441473
20210.4502347485584717
2022-0.04056343445970001
2023-0.6959910510351119
20240.004479492906429794
20250.03433869137826795
2026-0.008002433956901367
Total Factor Risk
1.1364529647127426
VTI.US Exposure
0.6466901343882008
VEA.US Exposure
0.027587144525777575
VWO.US Exposure
-0.0017620266760082015
QQQ.US Exposure
0.10264648185499321
VTV.US Exposure
-0.0075655492477371775
IJR.US Exposure
0.005474668732863417
QUAL.US Exposure
0.0040324595100950855
SHV.US Exposure
0.08732075365415412
TLT.US Exposure
-0.002731160400636973
LQD.US Exposure
0.023347783747453058
HYG.US Exposure
0.0007548621286052516
GLD.US Exposure
0.006711531802664564
USO.US Exposure
0.004459873055568041
VNQ.US Exposure
0.011802074347418942
BTC-USD.CC Exposure
0.003325350042937108
CPER.US Exposure
0.00020217940918128654
VIX.INDX Exposure
-0.009851180398267795
UUP.US Exposure
0.0032879738919898006
TIP.US Exposure
0.0010132006730266742
Idiosyncratic Exposure
0.09325344495772112
Value Score
50
Growth Score
50
Profit Score
37.5
Health Score
23.6
Yield Score
39
Moat Score
40

Factor Risk Decomposition

Share of annualised volatility attributable to each macro factor.

Total Est. Vol
113.6%

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
Forward P/EForward P/E RatioA valuation metric that compares the current stock price to estimated future earnings per share.Click for full definition →No estimate availableN/A
Dividend YieldDividend YieldAnnual dividend paid per share divided by the current share price — expressed as a percentage income return.Click for full definition →3.25%
Squeeze RiskShort Squeeze RiskA situation where a sharp rise in the price of a stock forces short sellers to buy shares to cover their positions, further driving up the price.Click for full definition →Low
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
$62
Avg Yield on Cost
0.62%
Annual Income Simulation Table
Historical Realised Yields
YearAnnual PayoutYield on CostQuality
2026$62.410.62%Solid

Momentum & MacroiPrice momentum indicators: distance from 50/200-Day SMA, 52-Week High proximity, Golden Cross trend signal, RSI momentum gauge, Fibonacci retracement levels, and Beta (market sensitivity).

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 →
-0.9%
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 →
-6.4%
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 →
86.8% 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 →
1.16
Market sensitivity coefficient
Trend SignalGolden Cross & Death CrossTechnical chart patterns that occur when a short-term moving average crosses over a long-term moving average.Click for full definition →
✦ Death Cross
Bearish — 50 SMA below 200 SMA
RSI (14-Day)Relative Strength Index (RSI)A momentum oscillator that measures the speed and change of price movements to identify overbought or oversold conditions.Click for full definition →
28
OversoldNeutralOverbought
Oversold
Fibonacci LevelsFibonacci RetracementTechnical levels based on mathematical ratios that indicate potential support and resistance areas.Click for full definition →
38.2% retracement-80.2%
50.0% retracement-76.6%
61.8% retracement-71.3%
% distance of current price from each 52-week Fibonacci support level.

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Frequently Asked Questions & Methodology

Is Invesco BulletShares 2032 Municipal Bond ETF a high-risk investment?

Invesco BulletShares 2032 Municipal Bond ETF (BSMW.US) has an annualized volatility of 113.6% and experienced a maximum drawdown of 75.6% over the last 10 years. Its primary macro risk driver is VTI.US.

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

Over the past 10 years, BSMW.US has generated a Compound Annual Growth Rate (CAGR) of -7.6%. It has had a positive return in 57% 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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