BSMW vs SPY
Invesco BulletShares 2032 Municipal Bond ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, BSMW or SPY?
Long Term Municipal Bond against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | BSMW | SPY |
|---|---|---|
| Expense Ratio | 0.18% | 0.09%Best |
| AUM | $215M | $804.7B |
| Dividend Yield | 3.29% | 0.98% |
| Holdings | 1,807 | 505 |
| YTD Return | -1.99% | +12.09%Best |
| 1Y Return | -0.57% | +16.29%Best |
| 3Y Return (annualized) | +2.68% | +21.20%Best |
| 5Y Return (annualized) | - | +13.37% |
| Volatility (annualized) | 6.4%Best | 12.5% |
| Max Drawdown | -7.6%Best | -18.8% |
| $10,000 over 3.6 years | $10,842 | $20,375Best |
| Fund Family | Invesco (US) | State Street Investment Management |
| Category | Fixed Income | Equity |
| Style | Long Term Municipal Bond | Large Cap Blend |
| Inception | Mar 1, 2023 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 3.6 years row, are measured over the window both funds cover: Mar 1, 2023 to Sep 18, 2026 (3.6 years).
BSMW vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 3.6 years both funds cover.
BSMW vs SPY Performance
Invesco BulletShares 2032 Municipal Bond ETF (BSMW) is an ETF from Invesco (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year BSMW returned -0.57% while SPY returned +16.29%. Year to date, BSMW is down 1.99% versus a gain of 12.09% for SPY.
Over three years, BSMW compounded at +2.68% per year against +21.20% for SPY. Across the full 4-year window we track, SPY has the edge at +21.86% annualized vs +2.27%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 12.5% compared with 6.4% for BSMW. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -7.6% for BSMW and -18.8% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.70. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
BSMW charges 0.18% per year while SPY charges 0.09%. On a $10,000 position that is $18 vs $9 annually, a gap of $9 per year that compounds over a long holding period. On income, BSMW currently yields 3.29% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 553 holdings in BSMW and 504 in SPY, totalling 29.4% and 99.9% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 553 positions we hold weights for in BSMW and 504 in SPY, against full books of 1,807 and 505.
You are not choosing between two funds in isolation.
Whichever of BSMW and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, BSMW or SPY?
BSMW has an expense ratio of 0.18% while SPY charges 0.09%. SPY is the cheaper option, by $9 a year on a $10,000 investment.
Which performed better, BSMW or SPY?
Over the past year BSMW returned -0.57% vs +16.29% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (4 years), BSMW annualized +2.27% vs +21.86% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BSMW or SPY?
SPY has been the more volatile fund at 12.5% annualized versus 6.4% for BSMW. Worst drawdown: BSMW -7.6% vs SPY -18.8%.
Should I hold both BSMW and SPY?
BSMW and SPY have a monthly-return correlation of 0.70, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, BSMW or SPY?
BSMW yields 3.29% while SPY yields 0.98%, so BSMW currently pays the higher dividend yield.
Is SPY better than BSMW?
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.