Home 
Today's Top Picks 
Top Performers 
Watchlist 
My Robo Portfolios 
ETF Zone 
How It Works 
News - Chart
- Upturn Summary
- Fund Details
Upturn AI Summary
Invesco BulletShares 2035 Municipal Bond ETF(BSMZ)
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for BSMZ
10/02/2026: BSMZ (1-star) is currently NOT-A-BUY. Pass it for now.
Invesco BulletShares 2035 Municipal Bond ETF (BSMZ) provides targeted exposure to investment-grade municipal bonds maturing in 2035, offering a predictable, tax-advantaged income stream. Its primary strength lies in its defined-maturity structure, which mimics an individual bond while providing the diversification of an ETF, all managed at a low cost by a reliable issuer. It is best used as a core holding for income-focused portfolios looking to match liabilities around the year 2035. Key risks include interest rate sensitivity, credit quality fluctuations of local issuers, and the eventual reinvestment risk upon the fund's liquidation in 2035. It is best suited for long-term, conservative investors seeking to optimize their tax-exempt yield and minimize structural complexity.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
ETF holdings, costs, diversification, valuation, risks, and market conditions provide supporting context about the fund.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Weak fit | This fund is designed for capital preservation and income rather than aggressive capital appreciation. |
| Momentum investor | Weak fit | As a fixed-income product, it lacks the price momentum characteristics sought by tactical growth investors. |
| Value investor | Mixed fit | It may be a fit if the yield-to-maturity of the underlying municipal bonds represents good relative value in the fixed-income market. |
| Dividend/Income investor | Strong fit | The fund is specifically designed to provide predictable tax-advantaged income, making it an excellent choice for income-focused portfolios. |
| Low-risk investor | Strong fit | The high credit quality of the municipal bonds and the target-maturity structure mitigate uncertainty for conservative investors. |
Investor Profile
Ideal Investor Profile
Conservative, tax-sensitive investors looking for predictable income and a definitive maturity date to match future financial goals.
Suitability
BSMZ is best suited for long-term investors or those holding to the 2035 target date, rather than active traders.
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Volatility | Low | As a fixed-income instrument, price volatility is generally lower than equities but sensitive to interest rate changes. |
| Market risk | Medium | Changes in interest rates and municipal bond credit spreads will affect the fund's net asset value. |
| Concentration | Medium | The fund is concentrated in debt maturing around 2035, which limits its exposure to other parts of the yield curve. |
| Tracking/expense | Low | The low expense ratio and passive index tracking result in minimal structural drag on performance. |
| Liquidity | Medium | Municipal bonds can sometimes experience lower secondary market liquidity during periods of severe market stress. |
| Business/sector quality | Low | The fund focuses on investment-grade municipal issuers, which generally have low default rates. |
Risk Analysis
Volatility
BSMZ exhibits low to moderate volatility typical of high-quality, fixed-income municipal bond funds.
Market Risk
The fund is exposed to interest rate risk, credit risk, and tax policy risk inherent in the municipal bond market.
What the ETF Owns
| Exposure Type | Exposure | Weight (%) | Retail Investor Read |
|---|---|---|---|
| Fixed-income type | Investment-Grade Municipal Bonds maturing in 2035 | 98.5 | The fund holds a diverse ladder of municipal bonds that provides tax-exempt income potential until the fund's terminal year. |
| Cash/collateral | Cash and Cash Equivalents | 1.5 | Small cash reserves are held for daily liquidity needs and portfolio rebalancing. |
Price Behavior
Flat / Range-Bound
The stock price has been trading within a narrow range with minimal directional movement.
Very Smooth
The stock has followed a highly orderly price path with minimal short-term disruption.
Analysis of Past Performance
Type ETF | Historic Profit -3.93% | Avg. Invested days 23 | Today’s Advisory PASS |
Upturn Advisory Rating  | Upturn Advisory Performance  1.0 | ETF Returns Performance  1.0 |
| Profits based on simulation | Last Close 10/02/2026 |
ETF Fundamentals 
Source: EOD Historical Data • Updated Oct 2, 2026
Fund Basics
| Metric | Value |
|---|---|
| Fund Size (AUM) | $66.17M |
| Issuer | Invesco |
| Inception | Sep 17, 2025 |
Performance
| Period | Total Return |
|---|---|
| YTD | -4.46% |
| 1 Year | -2.72% |
Risk Metrics
| Metric | Value |
|---|---|
| 1Y Volatility | 6.8% |
| 3Y Volatility | 0% |
| 3Y Sharpe Ratio | 0 |
Top Sectors
| Sector | Weight |
|---|---|
| Basic Materials | 0.00% |
| Consumer Cyclicals | 0.00% |
| Financial Services | 0.00% |
| Real Estate | 0.00% |
Asset Allocation
Portfolio Characteristics
| Metric | Value |
|---|
Upturn AI Summary
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
Note: This website is maintained by Upturn Corporation, which is an investment adviser registered with the U.S. Securities and Exchange Commission. Such registration does not imply a certain level of skill or training. Investing in securities has risks. Past performance is no guarantee of future returns. No assurance is provided as to any particular investment return, and you may lose money using our services. You are strongly advised to consult appropriate counsel before making any investments in companies you learn about through our services. You should obtain appropriate legal, tax, investment, accounting, and other advice that takes into account your investment portfolio and overall financial situation. You are solely responsible for conducting due diligence on a potential investment. We do not affect trades for you. You will select your own broker through which to transact. Investments are not FDIC insured, they are not guaranteed, and they may lose value. Please see the Privacy Policy, Terms of Use, and Disclosure for more information.
All company names, trademarks, logos, and brands are the property of their respective owners and are used for identification and informational purposes only. Use of these names, trademarks, and logos does not imply endorsement by their respective owners.