# Invesco BulletShares 2028 Municipal Bond ETF (BSMS): ETF Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/bsms for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Invesco · Asset class: Fixed Income - Strategy: Thematic · Inception: 2019-09-25 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 im... ## Key Facts | Metric | Value | |---|---| | Price | $23.16 | | Expense Ratio | 0.18% | | Assets Under Management | $350.7M | | NAV | $23.07 | | Holdings Count | 2387 | | Distribution Yield (TTM) | 2.83% | | Annual Distribution (TTM) | $0.65 /share | | Distribution Frequency | Monthly | | 52-Week Range | $22.63 – $23.70 | | Beta | 0.64 | ## Latest Distribution - Amount: $0.0564 /share - Ex-date: 2026-10-19 - Pay date: 2026-10-23 ## Frequently Asked Questions ### 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 2.83%, 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. ### Does BSMS pay a dividend? Yes, Invesco BulletShares 2028 Municipal Bond ETF (BSMS) distributes dividends to shareholders. The trailing-twelve-month yield is 2.83%. Full dividend history is on this page. ### How often does BSMS pay dividends? Invesco BulletShares 2028 Municipal Bond ETF pays dividends Monthly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### When is BSMS's next ex-dividend date? The most recently announced ex-dividend date for BSMS was 2026-10-19. The next ex-date typically follows Monthly; once announced it appears at the top of the dividend history table on this page. ### How much will BSMS's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.18% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does BSMS charge its expense ratio? The expense ratio is deducted in tiny daily slices from BSMS's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does BSMS cost more than a fund like VOO? BSMS's strategy (current expense ratio 0.18%) is different from a broad-market index tracker like VOO, so its fee belongs to a different cohort. The Cost Verdict card above shows you where BSMS sits within its own category, which is the comparison that actually matters. ### Are there cheaper alternatives to BSMS? The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as BSMS (0.18%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/bsms - Distribution history: https://www.dividenddata.com/funds/bsms/dividend - Holdings & diversification: https://www.dividenddata.com/funds/bsms/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/bsms/expenses - Peer comparison: https://www.dividenddata.com/funds/bsms/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.