A side-by-side comparison of Invesco BulletShares (R) 2027 Municipal Bond ETF (BSMR) and First Trust Municipal High Income ETF (FMHI) to help Canadian investors make an informed decision.
1-Year Performance
Normalised to 100 at the start — shows relative return over the trailing 12 months.
Head-to-Head Comparison
| Metric | BSMR | FMHI |
|---|---|---|
| YTD Return | +0.14%✓ | -2.46% |
| 1-Day Change | -0.08%✓ | -0.49% |
| 1-Week Change | +0.21% | +0.71%✓ |
| 1-Month Change | +0.97%✓ | +4.17% |
| Current Price | $23.54 | $46.58 |
| AUM | $374M | $1.12B✓ |
| MER (Expense Ratio) | 0.18%✓ | 0.73% |
| Dividend Yield | 2.64% | 4.44%✓ |
| Distribution Frequency | — | — |
| Inception Date | 2019-09-25 | 2017-11-01 |
| Holdings Count | 10 | 1 |
| MorningStar Rating | — | — |
| Category | US Municipal Bonds | US Municipal Bonds |
| Beta | 0.42 | 0.98 |
| 52-Week High | $23.57 | $47.88 |
| 52-Week Low | $23.01 | $44.17 |
| 50-Day MA | $23.43 | $45.82 |
| 200-Day MA | $23.60 | $47.50 |
✓ marks the better value for return/yield/AUM metrics. Lower ✓ for MER.
Annualised Returns
| Period | BSMR | FMHI |
|---|---|---|
| YTD | +0.14%✓ | -2.46% |
| 1 Year | +2.53%✓ | +1.91% |
| 3 Year | +3.57% | +5.64%✓ |
| 5 Year | +0.61%✓ | +0.43% |
| 10 Year | +0.00% | +0.00% |
| 1Y Volatility | 2.11% | 6.78% |
| Sharpe Ratio (3Y) | -0.15 | 0.23 |
Past performance is not a guarantee of future results.
Top 10 Holdings
| 1 | WASHINGTON D C MET AREA TRAN AUTH GROSS REV 5% | 2.46% | |
| 2 | GEORGIA ST 5% | 2.28% | |
| 3 | CUYAHOGA CNTY OHIO HOSP REV 5% | 2.06% | |
| 4 | MASSACHUSETTS ST DEV FIN AGY REV 5% | 1.97% | |
| 5 | ILLINOIS ST 5% | 1.87% | |
| 6 | HUDSON YDS INFRASTRUCTURE CORP N Y SECOND INDENTURE REV 5% | 1.89% | |
| 7 | NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV 5% | 1.51% | |
| 8 | CALIFORNIA ST 3% | 1.51% | |
| 9 | MT PLEASANT S C WTR & SWR REV 4% | 1.47% | |
| 10 | MASSACHUSETTS ST 5% | 1.27% |
| 1 | TNM23 | TNM23 | 3.25% |
Sector Weights
| Sector | BSMR | FMHI |
|---|---|---|
| Basic Materials | 0.00% | 0.00% |
| Communication Services | 0.00% | 0.00% |
| Consumer Cyclicals | 0.00% | 0.00% |
| Consumer Defensive | 0.00% | 0.00% |
| Energy | 0.00% | 0.00% |
| Financial Services | 0.00% | 0.00% |
| Healthcare | 0.00% | 0.00% |
| Industrials | 0.00% | 0.00% |
| Real Estate | 0.00% | 0.00% |
| Technology | 0.00% | 0.00% |
| Utilities | 0.00% | 0.00% |
About BSMR
The fund generally will invest at least 80% of its total assets in securities that comprise the underlying index. The underlying index seeks to measure the performance of a portfolio of U.S. dollar-denominated investment-grade municipal bonds with maturities or, in some cases, "effective maturities," in the year 2027 (collectively, "2027 Bonds").
About FMHI
Under normal market conditions, the fund seeks to achieve its investment objectives by investing at least 80% of its net assets (including investment borrowings) in municipal debt securities that pay interest that is exempt from regular federal income taxes. Municipal securities are generally issued by or on behalf of states, territories or possessions of the U.S. and the District of Columbia and their political subdivisions, agencies, authorities and other instrumentalities.
Which ETF is Right for You?
Both BSMR and FMHI are listed on Canadian exchanges and accessible through most Canadian brokerages including Questrade, Wealthsimple Trade, TD Direct, and Interactive Brokers.
Based on the available data, FMHI scores higher across our tracked metrics including YTD performance, dividend yield, and AUM — though both ETFs warrant individual research before investing.
- Consider your account type (TFSA, RRSP, non-registered) as it can affect dividend taxation.
- Compare management expense ratios (MER) directly on each provider's website.
- Look at average daily trading volume to assess liquidity.
- Review the fund's underlying index and holdings to ensure the exposure matches your goals.
This is not financial advice. Always do your own research or consult a licensed financial advisor before investing.
Frequently Asked Questions
What is the difference between BSMR and FMHI?
BSMR (Invesco BulletShares (R) 2027 Municipal Bond ETF) and FMHI (First Trust Municipal High Income ETF) are both Canadian-listed ETFs. Key differences include their AUM ($374M vs $1.12B), dividend yield (2.64% vs 4.44%), and year-to-date performance (+0.14% vs -2.46%).
Is BSMR better than FMHI?
There is no single "better" ETF — it depends on your investment goals. If you prioritise recent performance, BSMR has outperformed year-to-date. Always review the fund's prospectus and consider your tax situation.
Can I buy BSMR and FMHI on Wealthsimple?
Most Canadian-listed ETFs are available on Wealthsimple Trade commission-free. Both BSMR and FMHI should be accessible. Check Wealthsimple's supported tickers list to confirm availability.
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