BSMS's largest holdings are Texas (State of) Water Development Board, North Texas Tollway Authority, Triborough Bridge & Tunnel Authority, ILLINOIS ST, Los Angeles Department of Water & Power. The full top list is on this page.

How concentrated is BSMS?

The top 10 holdings are 3.7% of the fund, across 2,104 positions.

The total expense ratio on record is 0.18%. That is cheaper than 65% of the 864 US-listed bond funds we track.

US-listed

BSMS

seeks to track the investment results (before fees and expenses) of the Invesco BulletShares Municipal Bond 2028 Index

Invesco BulletShares 2028 Municipal Bond ETF

Invesco

2,104 holdings as of 2026-05-31 · top 10 = 3.7% · TER 0.18%

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Concentration

Well diversifiedtop 10 = 3.7%

diversifiedconcentrated

GROWTH · PRICE DEVELOPMENTrebased to 0%

Holdings

2,104

as of 2026-05-31

Top 10

3.7%

TER

0.18%

cheaper than 65% of peers

Net assets

US$304M

Largest

0.5%

P / E

–

Sections

Holdings as of 2026-05-31.

01Overview

the fund's regulatory facts

Fund currency

USD

Volatility 1Y

1.7%

Tracked index

Invesco BulletShares Municipal Bond 2028 Index

How it tracks

Index, sampling

02Performance

market price return · as of 2026-09-02

-0.2%

-0.6%

-1.3%

YTD

-0.9%

-0.1%

03Holdings

50 largest · as of 2026-05-31

#	Company	Identifier	Weight
1	Texas (State of) Water Development Board US	US882854Q709	0.5
2	North Texas Tollway Authority US	NRTTRN	0.4
3	Triborough Bridge & Tunnel Authority US	US89602RMU67	0.4
4	ILLINOIS ST US	US452152Q203	0.4
5	Los Angeles Department of Water & Power US	US544532PA62	0.4
6	Los Angeles Unified School District (Election of 2008) US	US5446466K35	0.4
7	Montana (State of) Facility Finance Authority (Bozeman Deaconess Health Services Obligated Group) US	US61204MDA27	0.3
8	Los Angeles Unified School District (Election of 2008) US	US5446466W72	0.3
9	Los Angeles (County of), CA Metropolitan Transportation Authority (Green Bonds) US	US54466HHF64	0.3
10	Grand Parkway Transportation Corp. (TELA Supported) US	US38611TBQ94	0.3
11	New Jersey (State of) US	US646039YM35	0.3
12	Illinois (State of) Toll Highway Authority US	ILSTRN	0.3
13	New York (City of), NY Transitional Finance Authority US	US64972HZ393	0.2
14	Pennsylvania (Commonwealth of) US	US70914PN321	0.2
15	Clark (County of), NV (Stadium Improvement Bonds) US	US180848XJ73	0.2
16	New York (State of) Dormitory Authority US	US64990AVU68	0.2
17	New York (City of), NY Transitional Finance Authority US	US64972HZ211	0.2
18	New Jersey (State of) Transportation Trust Fund Authority US	US6461364D01	0.2
19	University of California (Limited) US	US91412HDE09	0.2
20	NEW JERSEY ST TRANSPRTN TRUST US	US6461364E83	0.2
21	Connecticut (State of) US	US20772KCR86	0.2
22	Las Vegas Convention & Visitors Authority US	LASGEN	0.2
23	New York (State of) Dormitory Authority (Bidding Group 1) US	US64990AJZ93	0.2
24	Pecos Barstow Toyah Independent School District US	US705227HK59	0.2
25	New York (City of), NY US	US64966QMR82	0.2
26	New York (City of), NY Municipal Water Finance Authority US	US64972GRX42	0.2
27	New York (State of) Dormitory Authority (Bidding Group 2) US	US64990AMN27	0.2
28	California (State of) US	US13063DLD83	0.2
29	Metropolitan Transportation Authority (Green Bonds) US	US59261AQH31	0.2
30	Los Angeles (County of), CA Metropolitan Transportation Authority (Green Bonds) US	US54466HJK32	0.2
31	New York (City of), NY Transitional Finance Authority US	US64971XDJ46	0.2
32	Pennsylvania (Commonwealth of) Turnpike Commission US	US709224K402	0.2
33	California (State of) US	US13063DQ847	0.2
34	North Texas Tollway Authority US	US66285WXX90	0.2
35	University of California US	US91412HBE27	0.2
36	ILLINOIS ST US	US4521526S51	0.2
37	Los Angeles Unified School District (Election of 2008) US	US5446466N73	0.2
38	New York (City of), NY US	US64966QAM24	0.2
39	New York (City of), NY US	US64966SGS95	0.2
40	New York (City of), NY Transitional Finance Authority US	US64972HS604	0.2
41	California (State of) US	US13063DWN47	0.2
42	New York (State of) Dormitory Authority US	US64990AJY29	0.2
43	New York (City of), NY Transitional Finance Authority US	US64972HJ603	0.2
44	New Jersey (State of) Transportation Trust Fund Authority US	US6461365W72	0.2
45	New York (City of), NY US	US64966QPQ72	0.2
46	University of California US	US91412HAZ64	0.2
47	Maryland (State of) Stadium Authority (Baltimore City Public Schools) US	US574296DQ95	0.2
48	Harris (County of), TX Toll Road Authority (The) US	US41423PCJ49	0.2
49	Harris (County of), TX Toll Road Authority (The) US	US41423PAN78	0.2
50	TRUSTEES OF COLUMBIA UNIV US	NYSHGR	0.2

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04Exposure

Bonds 100.0%

By country

USUnited States98.1%

CurrencyUSD 98.1%

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