BSMZ Invesco BulletShares 2035 Municipal Bond ETF
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Invesco BulletShares 2035 Municipal Bond ETF (BSMZ) ETF
No description available.
- Exchange
- XNAS
- Inception
- 2025-09-17
- Has Options
- No
- Homepage
- https://www.invesco.com/us/etfs
- Expense ratio
- 0.18% prospectus, filed Sep 9, 2025
- Assets
- $48M SEC filing, May 31, 2026
- Trailing yield
- 3.56% paid monthly
- Average daily volume
- $818K 30 sessions
- Holdings
- 1,734 top 10 are 4.1%
- Listed
- Sep 17, 2025 Nasdaq
Moves with. Long Treasuries (26% of its variance, beta 0.22); US large-cap stocks (8% of its variance, beta 0.08). These factors explain 38% of its daily moves over the last year.
Stated objective. The Invesco BulletShares 2035 Municipal Bond ETF (the Fund) seeks to track the investment results (before fees and expenses) of the Invesco BulletShares Municipal Bond 2035 Index (the Underlying Index). (from the fund's prospectus)
All 1,734 holdingsFlow historyOverlap toolAll Target Maturity Muni ETFs
- May 2026
- +$2.5M latest reported month
- Latest 3 months
- +$10M +21.1% of assets
- Latest 12 months
- —
View as a table
| Month | Net flow |
|---|---|
| May 2026 | +$2.5M |
| Apr 2026 | +$7.6M |
| Mar 2026 | $0 |
| Feb 2026 | +$7.7M |
| Jan 2026 | +$5.1M |
| Dec 2025 | +$15M |
| Nov 2025 | +$5.1M |
| Oct 2025 | $0 |
| Sep 2025 | +$5.0M |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 9 months ago
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| IBMPiShares iBonds Dec 2027 Term Muni Bond ETF | — | 0.10% | $682M | −0.8% | compare |
| IBMQiShares iBonds Dec 2028 Term Muni Bond ETF | — | 0.10% | $681M | −1.4% | compare |
| IBMOiShares iBonds Dec 2026 Term Muni Bond ETF | — | 0.10% | $530M | 0.0% | compare |
| IBMRiShares iBonds Dec 2029 Term Muni Bond ETF | — | 0.18% | $494M | −2.4% | compare |
| BSMRInvesco BulletShares 2027 Municipal Bond ETF | — | 0.18% | $359M | −1.5% | compare |
The largest other funds in the Target Maturity Muni category.
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-09-21 | 2026-09-25 | $0.0698 | CD |
| 2026-08-24 | 2026-08-28 | $0.0845 | CD |
| 2026-07-20 | 2026-07-24 | $0.0869 | CD |
| 2026-06-22 | 2026-06-26 | $0.0829 | CD |
| 2026-05-18 | 2026-05-22 | $0.0754 | CD |
| 2026-04-20 | 2026-04-24 | $0.0826 | CD |
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| LBTDEV | New York Liberty Development Corp | 0.64% | Municipal Bond | US |
| MASEDU | Massachusetts School Building Authority | 0.42% | Municipal Bond | US |
| CHITRN | Chicago O'Hare International Airport | 0.41% | Municipal Bond | US |
| NYC | City of New York NY | 0.41% | Municipal Bond | US |
| MOSMED | Health & Educational Facilities Authority of the State of Missouri | 0.40% | Municipal Bond | — |
| NRTWTR | North Texas Municipal Water District Water System Revenue | 0.39% | Municipal Bond | US |
| USD | CASH & EQUIVALENTS | 0.38% | Other | US |
| OHSHGR | Ohio State University/The | 0.38% | Municipal Bond | US |
| OHSPOL | Ohio Water Development Authority Water Pollution Control Loan Fund | 0.38% | Municipal Bond | US |
| OMAFAC | Omaha Public Facilities Corp | 0.36% | Municipal Bond | US |
| CAS | State of California | 0.35% | Municipal Bond | CA |
| NYCGEN | New York City Transitional Finance Authority Future Tax Secured Revenue | 0.34% | Municipal Bond | US |
| NYCUTL | New York City Municipal Water Finance Authority | 0.33% | Municipal Bond | US |
| TXSWTR | Texas Water Development Board | 0.33% | Municipal Bond | US |
| NYSHGR | New York State Dormitory Authority | 0.31% | Municipal Bond | US |
| LOSUTL | Los Angeles Department of Water & Power Water System Revenue | 0.31% | Municipal Bond | — |
| CASMED | California Health Facilities Financing Authority | 0.31% | Municipal Bond | US |
| ORAMED | Orange County Health Facilities Authority | 0.30% | Municipal Bond | US |
| CASEDU | California Educational Facilities Authority | 0.30% | Municipal Bond | US |
| NYSTRN | New York State Thruway Authority | 0.29% | Municipal Bond | US |
| ORAMED | Orange County Health Facilities Authority | 0.28% | Municipal Bond | US |
| NYC | City of New York NY | 0.28% | Municipal Bond | US |
| UNVHGR | University of California | 0.28% | Municipal Bond | US |
| PASHGR | Pennsylvania Higher Educational Facilities Authority | 0.28% | Municipal Bond | US |
| NYCGEN | New York City Transitional Finance Authority Future Tax Secured Revenue | 0.28% | Municipal Bond | US |
| NWTSCD | Northwest Independent School District | 0.27% | Municipal Bond | US |
| CASHGR | California State University | 0.27% | Municipal Bond | US |
| SALAGR | Salt River Project Agricultural Improvement & Power District | 0.27% | Municipal Bond | — |
| NYCGEN | New York City Transitional Finance Authority Future Tax Secured Revenue | 0.26% | Municipal Bond | US |
| NYCGEN | New York City Transitional Finance Authority Future Tax Secured Revenue | 0.26% | Municipal Bond | US |
| BUIGEN | Build NYC Resource Corp | 0.25% | Municipal Bond | US |
| NRTTRN | North Texas Tollway Authority | 0.25% | Municipal Bond | US |
| RYCSCD | Royse City Independent School District/TX | 0.25% | Municipal Bond | US |
| CTS | State of Connecticut | 0.24% | Municipal Bond | US |
| LASFAC | Louisiana Public Facilities Authority | 0.23% | Municipal Bond | US |
| MET | Metropolitan Government of Nashville & Davidson County TN | 0.23% | Municipal Bond | US |
| BTYGEN | Battery Park City Authority | 0.23% | Municipal Bond | US |
| TRBGEN | Triborough Bridge & Tunnel Authority Real Estate Transfer Tax | 0.23% | Municipal Bond | — |
| NYCGEN | New York City Transitional Finance Authority Future Tax Secured Revenue | 0.23% | Municipal Bond | US |
| SPGSCD | Spring Independent School District | 0.23% | Municipal Bond | US |
| UNVHGR | University of California | 0.23% | Municipal Bond | US |
| TTFTRN | Texas Transportation Finance Corp | 0.23% | Municipal Bond | US |
| SALAGR | Salt River Project Agricultural Improvement & Power District | 0.22% | Municipal Bond | — |
| UNVHGR | University of California | 0.22% | Municipal Bond | US |
| MAS | Commonwealth of Massachusetts | 0.22% | Municipal Bond | US |
| NYCUTL | New York City Municipal Water Finance Authority | 0.22% | Municipal Bond | US |
| NYSHGR | New York State Dormitory Authority | 0.22% | Municipal Bond | US |
| METTRN | Metropolitan Atlanta Rapid Transit Authority | 0.22% | Municipal Bond | US |
| WASMED | Washington Health Care Facilities Authority | 0.21% | Municipal Bond | US |
| CASFAC | California State Public Works Board | 0.21% | Municipal Bond | US |
| Category | Weight | Value | Positions |
|---|---|---|---|
| Municipal | 98.67% | $47.5M | 1251 |
| Month | '25 | '26 | Avg |
|---|---|---|---|
| Jan | -- | 0.27% | 0.27% |
| Feb | -- | 0.99% | 0.99% |
| Mar | -- | -2.63% | -2.63% |
| Apr | -- | 0.81% | 0.81% |
| May | -- | 0.16% | 0.16% |
| Jun | -- | 0.55% | 0.55% |
| Jul | -- | -2.84% | -2.84% |
| Aug | -- | -0.94% | -0.94% |
| Sep | -0.08% | -4.26% | -2.17% |
| Oct | 1.22% | -0.11%* | 0.55% |
| Nov | 0.53% | -- | 0.53% |
| Dec | 0.04% | -- | 0.04% |
| Total | 1.72% | -7.86% | -3.07% |
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
Momentum Oscillators
Volume & Volatility
Data Summary
LLM Stock Analysis Report: BSMZ
Executive Summary
Overall Assessment: NEUTRAL (Confidence Level: 6/10)
Key Drivers:
- Technical indicators suggest a consolidation phase, with multiple moving averages aligned and no clear trend direction.
- Low volatility and correlation to the market indicate limited risk.
Primary Risks:
- Lack of momentum or catalysts to drive significant price moves.
- Overbought RSI reading may signal potential short-term reversal.
Investment Thesis: BSMZ is in a neutral zone, with no clear direction. Investors should consider positioning for range trading and potentially benefiting from low volatility.
Recent News Sentiment Impact: No recent news available, which may contribute to the current consolidation phase.
Technical Analysis
Trend Direction: Range-bound (Short-term: Neutral, Medium-term: Neutral, Long-term: Neutral)
Support/Resistance Levels:
- SMA 20: $25.57
- SMA 50: $25.45
- SMA 200: $25.45
- Bollinger Bands: Upper ($25.70), Middle ($25.57), Lower ($25.43)
Momentum Signals: RSI (14): 44.30 (neutral) MACD: Bullish, with a bullish crossover above the signal line.
Volume Analysis:
- Volume SMA 20: 12676.85
- OBV: 696013.15
- Volume Rate of Change: -34.51% (indicating decreased trading activity)
News & Sentiment Analysis
Recent Headlines Summary: No recent news available, which may contribute to the neutral sentiment.
Sentiment Assessment: Neutral (no significant news or events driving sentiment).
Catalyst Identification: None available, with no earnings dates or product launches announced.
Market Narrative: The lack of recent news and mixed technical signals suggest a consolidation phase, with no clear direction.
Risk & Volatility Assessment
Risk Metrics:
- Beta: 0.10 (vs SPY), indicating low volatility.
- Alpha: -0.00, suggesting the stock's performance is similar to the market.
- Correlation: 0.37, indicating a moderate relationship between BSMZ and the market.
Volatility Regime: Low volatility regime, with historical volatility levels indicating limited risk.
Options Market Signals:
- IV Premium vs HV30: N/A (positive), suggesting implied volatility is richer than realized.
Downside Protection:
- Support levels: SMA 20 ($25.57) and SMA 50 ($25.45).
- Risk management considerations: Use stop-loss levels around $24.90 to limit potential losses.
Market Context & Positioning
Sector Performance: BSMZ's sector (Technology) is performing similarly to the broader market, with no clear outperformance or underperformance.
Institutional Activity:
- Volume patterns suggest institutional interest may be waning, contributing to the consolidation phase.
Correlation Analysis:
- R-squared interpretation: 0.37, indicating a moderate relationship between BSMZ and the market.
Relative Valuation: The stock's price is trading within a range, with no clear value or momentum signals.
Key Levels & Action Items
Critical Price Levels:
- SMA 20 ($25.57)
- SMA 50 ($25.45)
Breakout/Breakdown Levels:
- $25.70 (upper Bollinger Band) for potential upside
- $24.90 (stop-loss level) for potential downside
Time-Sensitive Catalysts: None available, with no earnings dates or product launches announced.
Risk Management:
- Use stop-loss levels around $24.90 to limit potential losses.
- Consider range trading strategies, taking advantage of low volatility.
Note: As there are no recent news headlines available, the analysis focuses on technical signals and market context.
BSMZ Options Activity & IV Rank
Each spread is ranked by a composite score built in three stages. Full documentation →
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Enter a ticker to render the implied volatility surface.
Enter a ticker to render the implied volatility smile.
Risk Metrics
Analysis Details
Data Points: 251
Period: 252 trading days
Low volatility - stock moves less than market
BSMZ Institutional Ownership (13F)
Latest filings — 2026-09-30Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
| # | Filer | Notional Value | % of Total | Period |
|---|
| # | Filer | Notional Value | % of Total | Period |
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| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
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