Invesco BulletShares 2028 Municipal Bond ETF

Frequently Asked Questions About BSMS

What does BSMS invest in?

The Invesco BulletShares 2028 Municipal Bond ETF (the Fund) is designed to track the performance of the Invesco BulletShares USD Municipal Bond 2028 Index. The Fund commits a minimum of 80% of its total assets to municipal debt instruments that are part of this benchmark index. The Index itself aims to reflect the returns of a diversified collection of U.S. dollar-denominated municipal securities, which are issued by U.S. states, their agencies, or local governmental bodies, and all possess an effective maturity date in 2028. Instead of acquiring every security within the Index, the Fund implements a "sampling" methodology to work towards its investment goals. Both the Fund's portfolio and the Index's composition undergo monthly adjustments. This Fund features a predetermined maturity year of 2028 and is scheduled to cease operations around December 15, 2028. For complete details, consult the prospectus.

What is the expense ratio of BSMS?

Invesco BulletShares 2028 Municipal Bond ETF (BSMS) charges an expense ratio of 0.18%. This is the annual fee deducted from fund assets to cover management and operations.

What is BSMS's dividend yield?

BSMS's trailing-twelve-month yield is 2.79%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of BSMS?

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

What is the credit quality of BSMS?

BSMS'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 BSMS?

Yield to maturity (YTM) is the total return you'd earn from BSMS if every bond in the portfolio is held to maturity at the current price. BSMS'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.