BSMT vs PMM

Comparison between INVESCO BULLETSHARES 2029 MUNICIPAL BOND ETF (BSMT, ETF) and Putnam Managed Municipal Income Trust. (PMM, ETF).

5-Year PerformanceBSMT has outperformed PMM, delivering a return of -0.3% compared to -1.2%

BSMT vs PMM - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	BSMT(ETF)	PMM(ETF)
Net Assets	$281M	$281M
Expense Ratio	0.18%	N/A
Max Drawdown	17.74%	55.45%
Sharpe Ratio	-0.41	0.81
5Y Beta	0.02	0.25
5Y Dividends CAGR	8.08%	-2.55%

Net Assets

Winner

BSMT

$281M

PMM

$281M

Expense Ratio

BSMT

0.18%

PMM

N/A

Max Drawdown

Winner

BSMT

17.74%

PMM

55.45%

Sharpe Ratio

BSMT

-0.41

Winner

PMM

0.81

5Y Beta

Winner

BSMT

0.02

PMM

0.25

5Y Dividends CAGR

Winner

BSMT

8.08%

PMM

-2.55%

BSMT vs PMM - Historical Returns

Returns include dividend reinvestment.

Period	BSMT	PMM
1 month	+0.77%	-1.98%
3 months	+0.39%	+2.39%
6 months	-0.39%	+0.64%
1 year	+3.02%	+12.80%
5 years(CAGR)	-0.26%	-1.21%
10 years(CAGR)	N/A	+2.76%
Max(CAGR)	+0.93%	+4.15%

Winner

BSMT

+0.77%

PMM

-1.98%

BSMT

+0.39%

Winner

PMM

+2.39%

BSMT

-0.39%

Winner

PMM

+0.64%

BSMT

+3.02%

Winner

PMM

+12.80%

5Y(CAGR)

Winner

BSMT

-0.26%

PMM

-1.21%

10Y(CAGR)

BSMT

N/A

PMM

+2.76%

Max(CAGR)

BSMT

+0.93%

Winner

PMM

+4.15%

BSMT vs PMM - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	BSMT	PMM
2026	+0.88%	+4.61%
2025	+3.62%	+9.59%
2024	+0.36%	+3.02%
2023	+5.16%	+2.56%
2022	-10.94%	-24.71%
2021	+1.42%	+14.43%
2020	+6.96%	+5.39%
2019	-0.35%	+20.89%
2018	N/A	-4.36%
2017	N/A	+8.41%
2016	N/A	+1.50%
2015	N/A	+8.42%
2014	N/A	+16.71%
2013	N/A	-14.18%
2012	N/A	+13.90%
2011	N/A	+16.72%
2010	N/A	+11.36%
2009	N/A	+39.05%
2008	N/A	-23.78%
2007	N/A	-4.68%
2006	N/A	+13.52%
2005	N/A	+5.00%
2004	N/A	+4.05%
2003	N/A	+7.27%
2002	N/A	-1.93%
2001	N/A	+2.95%
2000	N/A	-2.73%
1999	N/A	-18.75%

BSMT vs PMM Drawdown Comparison

The maximum drawdown for BSMT was -16.19%, occurring on Oct 31, 2022. This drawdown has not yet recovered.

The maximum drawdown for PMM was -38.66%, occurring on Dec 12, 2008. Recovery took 604 trading sessions.

The current BSMT drawdown is -2.11%. The current PMM drawdown is -10.32%.

Rank	BSMT	PMM
#1	-16.19% Jul 19, 2021 - Oct 31, 2022	-38.66% May 15, 2007 - Oct 6, 2009
#2	-15.09% Feb 27, 2020 - Jul 23, 2020	-37.70% Dec 23, 2021 - Oct 25, 2023
#3	-3.42% Feb 11, 2021 - Jun 9, 2021	-29.07% Feb 25, 2020 - Dec 31, 2020
#4	-2.88% Aug 10, 2020 - Dec 8, 2020	-23.55% Aug 23, 2000 - May 23, 2005
#5	-2.14% Oct 9, 2019 - Jan 9, 2020	-22.09% Jan 25, 2013 - Oct 22, 2015
#6	-0.72% Jun 10, 2021 - Jul 6, 2021	-19.37% Nov 1, 1999 - Aug 17, 2000
#7	-0.53% Jan 6, 2021 - Jan 26, 2021	-15.50% Oct 19, 2010 - Jul 22, 2011
#8	-0.52% Sep 25, 2019 - Oct 9, 2019	-12.72% Sep 28, 2016 - Sep 13, 2017
#9	-0.47% Jan 31, 2020 - Feb 18, 2020	-10.42% Aug 25, 2005 - Aug 15, 2006
#10	-0.25% Jul 31, 2020 - Aug 4, 2020	-9.63% Sep 15, 2017 - Feb 8, 2019
#11	-0.15% Dec 28, 2020 - Dec 30, 2020	-8.11% Mar 8, 2012 - May 9, 2012
#12	-0.14% Jan 27, 2020 - Jan 31, 2020	-8.09% Jul 22, 2011 - Aug 22, 2011
#13	-0.13% Dec 21, 2020 - Dec 28, 2020	-7.15% Oct 3, 2012 - Jan 8, 2013
#14	-0.13% Aug 4, 2020 - Aug 10, 2020	-6.40% Jun 25, 2021 - Nov 18, 2021
#15	-0.10% Jul 28, 2020 - Jul 31, 2020	-6.36% Oct 6, 2009 - Jan 15, 2010

Correlation

Correlation between BSMT and PMM is 0.89 which considered as a strong positive correlation - the stocks tend to move together.

0.89

-101

Dividend Comparison (2000 - 2026)

BSMT vs PMM dividend yield comparison.

Year	BSMT	PMM
2026	1.84%	3.70%
2025	2.78%	4.90%
2024	2.80%	4.78%
2023	2.62%	5.10%
2022	1.65%	6.11%
2021	1.31%	4.38%
2020	1.82%	4.76%
2019	0.48%	4.81%
2018	0.00%	5.42%
2017	0.00%	5.38%
2016	0.00%	6.09%
2015	0.00%	5.92%
2014	0.00%	6.22%
2013	0.00%	7.03%
2012	0.00%	5.79%
2011	0.00%	7.00%
2010	0.00%	7.59%
2009	0.00%	7.05%
2008	0.00%	8.29%
2007	0.00%	5.86%
2006	0.00%	5.33%
2005	0.00%	6.04%
2004	0.00%	7.08%
2003	0.00%	7.60%
2002	0.00%	7.71%
2001	0.00%	7.17%
2000	0.00%	2.97%