ATLASInvesco BulletShares 2028 Municipal Bond ETF (BSMS): outlook, holdings and fees
Invesco BulletShares 2028 Municipal Bond ETF (BSMS) is an exchange-traded fund and is managed by Invesco. The expense ratio is 0.18% and the yield is 2.76%. The ten largest holdings are 12% of the fund.
Fund data as of Oct 14, 2026 · Price Nov 2, 2026
ATLAS view on BSMS
| Last price | $23.22 (0.0%) |
|---|---|
| ATLAS chance of a higher price in 1 month | 73% |
| Likely 1-month range (50%) | $23.21 – $23.50 |
| Normal 1-day range (±1σ) | ±0.2% |
| Distribution yield | 2.76% |
ATLAS probabilities use the same calibrated model as every stock page. A fair value is shown for companies, not funds; the holdings below link to the fair value of each company.
BSMS fund facts
| Issuer | Invesco |
|---|---|
| Theme | Municipal bonds |
| Assets under management | $334M |
| Expense ratio | 0.18% |
| Number of holdings | 9 |
| Portfolio turnover | 4% |
| Inception | Sep 25, 2019 |
| Exchange | NASDAQ |
The fund generally will invest at least 80% of its total assets in securities that comprise the underlying index. The underlying index seeks to measure the performance of a portfolio of U.S. dollar-denominated investment-grade municipal bonds with maturities or, in some cases, "effective maturities," in the year 2028 (collectively, "2028 Bonds").
BSMS top holdings
| Holding | Sector | Weight |
|---|---|---|
| NEW YORK N Y 5% | – | 2.01% |
| CALIFORNIA ST 5% | – | 1.28% |
| ILLINOIS ST TOLL HWY AUTH TOLL HIGHWAY REV 5% | – | 1.28% |
| NEW YORK ST DORM AUTH SALES TAX REV ST SUPPORTED DEBT 5% | – | 1.28% |
| TEXAS MUN GAS ACQUISITION & SUPPLY CORP III GAS SUPPLY REV 5% | – | 1.23% |
| NEW YORK ST DORM AUTH REVS NON ST SUPPORTED DEBT 5% | – | 1.25% |
| CONNECTICUT ST 4% | – | 1.14% |
| MASSACHUSETTS ST 5% | – | 1.17% |
| UNIVERSITY COLO ENTERPRISE SYS REV 4% | – | 1.15% |
Holdings with an ATLAS page link to their probability range, fair value and earnings calendar.
BSMS returns and risk
| Year to date | -0.1% |
|---|---|
| 1 year | +0.6% |
| 3 years (annualised) | +3.2% |
| 5 years (annualised) | 0.0% |
| 10 years (annualised) | 0.0% |
| Volatility (3 years) | 3.5% |
| Sharpe ratio (3 years) | -0.33 |
Past returns do not guarantee future results.
BSMS: frequently asked questions
What does BSMS invest in?
Invesco BulletShares 2028 Municipal Bond ETF invests in a portfolio of securities. Its largest holdings are NEW YORK N Y 5% (2.0%), CALIFORNIA ST 5% (1.3%), ILLINOIS ST TOLL HWY AUTH TOLL HIGHWAY REV 5% (1.3%), NEW YORK ST DORM AUTH SALES TAX REV ST SUPPORTED DEBT 5% (1.3%), TEXAS MUN GAS ACQUISITION & SUPPLY CORP III GAS SUPPLY REV 5% (1.2%).
What is the BSMS expense ratio?
0.18% a year: about $18.00 for every $10,000 invested.
What is the BSMS dividend yield?
2.76%. ATLAS does not hold the exact distribution dates for ETFs.
Will BSMS go up?
Nobody can know. The ATLAS model puts the chance of a higher price in one month at 73%, with a likely range (50%) of $23.21 to $23.50 from $23.22 today. It is a probability, not a prediction.
How has BSMS performed?
Year to date -0.1%, one year +0.6%, three years +3.2% a year, five years 0.0% a year. Past returns do not guarantee future results.
Similar ETFs: Municipal bonds
- State Street Communication Services Select Sector SPDR ETF (XLC)
- VanEck High Yield Muni ETF (HYD)
- Invesco National AMT-Free Municipal Bond ETF (PZA)
- State Street SPDR Nuveen ICE High Yield Municipal Bond ETF (HYMB)
- State Street SPDR Nuveen ICE Short Term Municipal Bond ETF (SHM)
- PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund (MUNI)
- State Street SPDR Nuveen ICE Municipal Bond ETF (TFI)
- Franklin Dynamic Municipal Bond ETF (FLMI)
Educational information, not investment advice. Disclaimer