Invesco BulletShares 2027 Municipal Bond ETF

Frequently Asked Questions About BSMR

What does BSMR invest in?

The Invesco BulletShares 2027 Municipal Bond ETF (the Fund) is structured to mirror the performance of the Invesco BulletShares USD Municipal Bond 2027 Index (the Index). A minimum of 80% of the Fund's total capital will be allocated to municipal debt instruments included in this index. The Index itself is engineered to gauge the returns of a collection of US dollar-denominated municipal securities, which are issued by US state, state agencies, or local government bodies and all feature an effective maturity in 2027. To achieve its investment goals, the Fund utilizes a "sampling" methodology, rather than purchasing every single security in the Index. Both the Fund's portfolio and the Index's constituents undergo monthly adjustments. The Fund possesses a predetermined maturity year of 2027 and is slated to conclude its operations and liquidate around December 15, 2027. For additional comprehensive information, please refer to the official prospectus.

What is the expense ratio of BSMR?

Invesco BulletShares 2027 Municipal Bond ETF (BSMR) charges an expense ratio of 0.18%. This is the annual fee deducted from fund assets to cover management and operations.

What is BSMR's dividend yield?

BSMR's trailing-twelve-month yield is 2.70%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of BSMR?

Effective duration measures BSMR's sensitivity to interest-rate changes — a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. BSMR's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of BSMR?

BSMR's credit quality breakdown — the share of holdings rated AAA through CCC and below — is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.

What is the yield to maturity of BSMR?

Yield to maturity (YTM) is the total return you'd earn from BSMR if every bond in the portfolio is held to maturity at the current price. BSMR's YTM is published on the fund's factsheet on the issuer's website — it differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.