Invesco BulletShares 2029 Municipal Bond ETF (BSMT) Analysis

For informational purposes only. Not financial advice.

Quick Answer

Invesco BulletShares 2029 Municipal Bond ETF (BSMT) has a last stored price of $22.29, as of the Oct 5, 2026 trading session. It has a 0.18% expense ratio and $255M in assets under management.

In the stored portfolio snapshot, the largest sector allocation is Cash & Others at 98.1%.

Invesco BulletShares 2029 Municipal Bond ETF (BSMT) ETF — Price, Holdings & Analysis

ETF Overview

BSMT, the Invesco BulletShares 2029 Municipal Bond ETF, seeks to replicate the performance of the Invesco BulletShares USD Municipal Bond 2029 Index. The ETF invests primarily in US dollar-denominated municipal bonds issued by US state, state agencies, or local governments, all with effective maturities in 2029. This targeted maturity approach allows investors to build a bond ladder with defined maturity dates. BSMT employs a sampling methodology, meaning it does not necessarily hold all securities in the index but rather a representative selection. As of today, March 15, 2026, the fund's sector allocation is heavily weighted towards Cash & Others at 98.1%, with a smaller allocation of 1.9% to Financial Services. The fund is designed to terminate around December 15, 2029, at which point the remaining assets will be distributed to shareholders.

Risk Metrics

BSMT's risk profile is influenced by its concentration in municipal bonds with a specific maturity date. The fund's heavy allocation to Cash & Others (98.1%) may reduce interest rate risk but could also limit potential returns. The fund's beta of 0.82 (3Y) suggests it is less volatile than the overall market. The expense ratio of 0.18% introduces a minor drag on performance, which is important to consider over the life of the ETF. Investors should be aware of the risks associated with fixed-income investments, including interest rate risk and credit risk, although the focus on municipal bonds can provide some tax advantages. The concentration in a single maturity year also means that investors are exposed to the specific credit and economic conditions prevailing around 2029.

Beta: 0.82

Expense Ratio

0.18%

How Is the Fund Allocated?

Sector	Weight
Cash & Others	98.1%
Financial Services	1.9%

Country	Weight
Other	98.1%
United States	1.9%
Germany	0.0%

Dividend Yield

0.00%

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Questions & Answers

What is BSMT and what does it track?

The Invesco BulletShares 2029 Municipal Bond ETF (BSMT) is a fixed-income ETF managed by Invesco. It aims to track the performance of the Invesco BulletShares USD Municipal Bond 2029 Index.

This index comprises US dollar-denominated municipal securities issued by US state, state agencies, or local governments with effective maturities in 2029.

What is the expense ratio for BSMT?

The expense ratio for BSMT is 0.18%. This means that for every $10,000 invested in the fund, investors will pay $18 in annual fees to cover the fund's operating expenses.

While there isn't a readily available category average for target maturity municipal bond ETFs, the expense ratio is relatively low compared to actively managed fixed income funds.

What are the top holdings in BSMT?

As a municipal bond ETF, BSMT's holdings consist of various municipal bonds. The sector allocation shows a significant portion in Cash & Others (98.1%), with the remaining 1.9% allocated to Financial Services.

Due to the fund's investment strategy, the specific bond holdings will change over time as the fund approaches its target maturity date in 2029. Investors should consult the fund's official website for the most up-to-date holdings information.

Is BSMT a good long-term investment?

Whether BSMT is a suitable long-term investment depends on an investor's individual financial goals and risk tolerance.

BSMT offers a targeted maturity approach, focusing on municipal bonds maturing in 2029, which can be attractive for investors seeking to align their bond holdings with specific future liabilities. The ETF's expense ratio is 0.18%.

How does BSMT compare to similar ETFs?

BSMT differentiates itself through its focus on municipal bonds with a defined maturity date of 2029. While direct comparisons to similar ETFs are challenging without a specific competitive set, BSMT's expense ratio of 0.18% is a key factor.

Its AUM of $0.25 billion indicates moderate investor interest.

Does BSMT pay dividends?

According to the provided data, BSMT's dividend yield is 0.00% as of today, March 15, 2026. This indicates that the fund is not currently distributing income to shareholders in the form of dividends.

While municipal bonds generally provide income, the fund's current allocation to Cash & Others (98.1%) may be impacting its ability to generate and distribute dividends.

Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.

Data provided for informational purposes only.

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