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BSMS ETF · Invesco BulletShares 2028 Municipal Bond ETF
The BSMS Exchange Traded Fund (ETF) is provided by Invesco. It is built to track an index: Invesco BulletShares USD Municipal Bond 2028 Index. The BSMS ETF provides physical exposure, so by buying it you actually own parts of all the 1,916 underlying holdings. This share class generates a stream of income by distributing dividends.
Last update Yesterday at 1:30 PM UTC
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This fund is part ofMunicipal Bonds1M perf.-0.66%
Last price
$23.57
1M perf.
-0.45%
1M flows
+€10M
AuM
€245M
E/R
0.18%
Rating
ESG Consensus®
BSMS
$23.57
Performance & flows
Segment for quartile rank
December 15, 2025 → March 13, 2026
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BSMS
$23.50
+0.57%
Municipal Bonds
+0.91%
Historic performance and flows
| 1M | 3M | 1Y | 3Y | 5Y | MTD | QTD | YTD | ||
|---|---|---|---|---|---|---|---|---|---|
| Perf. | -0.45%  | +0.58%  | +3.20% | +8.67% | +1.35%  | -0.46% | +0.33% | +0.33% | |
| Flows |
Key fund info
Segment for quartile rank
This ETF's jurisdiction country is not in your region (Europe and Middle East) ·
Main characteristics
More details
NAV
3/13/2026
$23.50
1D NAV change
+0.01%
Dividend policy
Replication method
Direct (Physical)
Replication model
Optimized sampling
No. of holdings
1916
Inception date
9/13/2019
Jurisdiction
United States
Distribution
United States
Legal structure
Open-end Fund
Base currency
USD
Dividend distribution
Trailing 12-month distr. yield
Distribution frequency
Last distribution
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Classification
Product type
Benchmark
Invesco BulletShares USD Municipal Bond 2028 Index
Asset class
Factors
N/A
Investment strategy
The Invesco BulletShares® 2028 Municipal Bond ETF (Fund) is based on the Invesco BulletShares® USD Municipal Bond 2028 Index (Index). The Fund will invest at least 80% of its total assets in municipal bonds that comprise the index. The Index seeks to measure the performance of a portfolio of US dollar-denominated, issued by US state, state agencies, or local governments with effective maturities in 2028.
Tax optimisation
PEA
France
UK Reporting Status
United Kingdom
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Risk profile
Segment for quartile rank
Historical risk/return profile
| 3M | 1Y | 3Y | 5Y | |
|---|---|---|---|---|
| Returns | +0.58% | +3.20% | +8.67% | +1.35% |
| Volatility | ||||
| Perf./Volatility | ||||
| Max drawdown |
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Synthetic Risk and Reward Indicator (SRRI)
UCITS
N/A
PRIIPS
N/A
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Countries
USA
100.00%
Sectors
Municipal
60.60%
Unavailable
39.40%
Diversification
Total weight of top 15 holdings out of 1916
Top 15 holdings
Data as of January 31, 2026
Texas Water Development Board, 5% 15apr2049, USD (2018B)
US89602RMU67
North Texas Tollway Authority, 5% 1jan2043, USD (2017A)
US544532PA62
Los Angeles Unified School District, 5% 1jul2028, USD
US61204MDA27
Illinois, 5% 1nov2028, USD (2017D)
Los Angeles Unified School District, 5.25% 1jul2042, USD
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Grand Parkway Transportation Corp., 5% 1oct2043, USD (2018A)
US542691CJ77
City of Orlando, 5% 1oct2048, USD (2018B)
Illinois Toll Highway Authority, 5% 1jan2042, USD
New Jersey, 5% 1jun2028, USD
US64990AVU68
New Jersey Transportation Trust Fund Authority, 5% 15dec2032, USD
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Enterprise
Trackinsight Enterprise helps professional and institutional ETF investors tackle operational, regulatory, and analytical challenges at every stage of the investment process.
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Integrates ESG criteria
No
SDG
ESG Consensus® by Conser
Data as of December 31, 2025
MethodologyOur partner Conser gathers the industry's consensus on the business practices of the underlying holdings. We have computed the following metrics about BSMS ETF's sustainability, based on their methodology.
ESG Consensus®
ESG Consensus® is based on the Final Sustainability Grade, which itself consists of 10 grades. Our partner Conser calculates the exact grade, based on market intelligence, using their proprietary ESG Consensus® methodology.
BSMS’s has a Final Sustainability Grade of either A+, A, or A-.
A+
A
A-
B+
B
B-
C+
C
C-
D
This fund’s exact Final Sustainability Grade is available in Trackinsight Enterprise.
Learn more about Trackinsight EnterpriseHoldings review
100.00% of holdings have positive scoring
100.00%
Consensus levels
Strong
Medium
Weak
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Enterprise
Trackinsight Enterprise helps professional and institutional ETF investors tackle operational, regulatory, and analytical challenges at every stage of the investment process.
Learn more about Trackinsight EnterpriseReplication
Trackinsight replication rating:
Replication quality
Calculated over 12m, as of February 27, 2026
Tracking error
Tracking difference
Replication information
Index
Invesco BulletShares USD Municipal Bond 2028 NTR Index - USD
Index ticker
IIBSMBS Index
Index dividend policy
NTR
Replication method
Replication model
Built for professionals: access exclusive replication metrics in Trackinsight Enterprise.
Enterprise
Trackinsight Enterprise helps professional and institutional ETF investors tackle operational, regulatory, and analytical challenges at every stage of the investment process.
Learn more about Trackinsight EnterpriseIssuer
Invesco
Invesco ID Card
Number of funds
631
Total AuM
€852.43B
Expense ratio range
0.04% - 5.39%
Average expense ratio
0.3562%
Top 5 funds by Invesco
| AuM | ||
|---|---|---|
QQQ | Invesco QQQ ETF | €337.06B |
RSP | Invesco S&P 500® Equal Weight ETF | €74.12B |
QQQM | Invesco NASDAQ 100 ETF | €61.07B |
SPXS | Invesco S&P 500 UCITS ETF | €30.55B |
SGLD | Invesco Physical Gold USD ETC | €28.27B |
Frequently asked questions about BSMS
What does Invesco BulletShares 2028 Municipal Bond ETF, BSMS, invest in?
BSMS is a Passive ETF. This ETF provides exposure to US Investment Grade Municipal Bonds.
Which benchmark or index does BSMS replicate?
BSMS tracks the Invesco BulletShares USD Municipal Bond 2028 NTR Index - USD, through a optimized sampling replication method.
What is the Total Expense ratio (TER) of BSMS?
BSMS carries a total expense ratio (TER) of 0.18%, indicating the annual cost for holding the fund.
When was BSMS launched?
BSMS was introduced to the market on September 13, 2019. It trades on United States
Who is the ETF issuer of BSMS?
Invesco BulletShares 2028 Municipal Bond ETF, BSMS, is provided by Invesco. Learn more about Invesco here.
What is the current assets under management (AUM) of BSMS?
BSMS oversees €245M in assets as of March 13, 2026.
How has BSMS performed lately?
Based on data from March 13, 2026, BSMS returned -0.45% over the past month, 0.58% over the last three months and 0.33% year-to-date.
What are the latest inflows or outflows for BSMS?
As of March 13, 2026, BSMS recorded net flows of +€10M over the last month and +€24M year-to-date.
Does BSMS distribute dividends?
BSMS follows a distributing dividend policy, meaning it pays out income to investors. As of March 13, 2026, its 12-month trailing yield was 2.33%.
What are the main country or region exposures of BSMS?
As of January 31, 2026, BSMS has significant geographic allocations in USA.
In which sector or theme does BSMS invest in?
As of January 31, 2026, BSMS focuses largely on Municipal.
How many securities does BSMS hold and how diversified is it?
As of January 31, 2026, BSMS holds 1916 positions in its portfolio, with 5.61% of assets concentrated in its top 15 holdings.
What are the main positions in BSMS?
As of January 31, 2026, BSMS top three holdings include Texas Water Development Board, 5% 15apr2049, USD (2018B), US89602RMU67 and North Texas Tollway Authority, 5% 1jan2043, USD (2017A).
What is the base currency of BSMS?
The base currency of BSMS is USD.
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