BSMY vs SPY
Invesco BulletShares 2034 Municipal Bond ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. BSMY offers more diversification with 1,925 holdings.
Side-by-Side Comparison
| Metric | BSMY | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.09% | |
| AUM | $140M | $821.1B | |
| Dividend Yield | 3.62% | 1.01% | |
| Holdings | 1,925 | 505 | |
| YTD Return | -0.27% | +12.22% | |
| 1Y Return | +5.25% | +20.83% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +12.98% | |
| Volatility (annualized) | 5.8% | 15.3% | |
| Max Drawdown | -6.8% | -56.5% | |
| Fund Family | Invesco (US) | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Sep 11, 2024 | Jan 22, 1993 |
BSMY vs SPY Performance
Invesco BulletShares 2034 Municipal Bond ETF (BSMY) is a ETF from Invesco (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year BSMY returned +5.25% while SPY returned +20.83%. Year to date, BSMY is down 0.27% versus a gain of 12.22% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 5.8% for BSMY. 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 -6.8% for BSMY and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.60. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
BSMY 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, BSMY currently yields 3.62% against 1.01% for SPY.
Holdings Overlap
BSMY and SPY share 0 holdings out of 1051 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, BSMY or SPY?
BSMY has an expense ratio of 0.18% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $9 per year of difference.
Which performed better, BSMY or SPY?
Over the past year BSMY returned +5.25% vs +20.83% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), BSMY annualized +0.93% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, BSMY or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 5.8% for BSMY. Worst drawdown: BSMY -6.8% vs SPY -56.5%.
Should I hold both BSMY and SPY?
BSMY and SPY have a monthly-return correlation of 0.60, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BSMY and SPY?
BSMY and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 1051 unique securities.
Which pays a higher dividend, BSMY or SPY?
BSMY yields 3.62% while SPY yields 1.01%, so BSMY currently pays the higher dividend yield.
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