BSMW vs TZA
Comparison between Invesco BulletShares 2032 Municipal Bond ETF (BSMW, ETF) and Direxion Small Cap Bear 3X ETF (TZA, ETF).
BSMW vs TZA - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
Winner
BSMW
$208M
TZA
$208M
Expense Ratio
BSMW
0.18%
TZA
N/A
Max Drawdown
Winner
BSMW
9.40%
TZA
100.00%
Sharpe Ratio
Winner
BSMW
0.81
TZA
-1.47
5Y Beta
Winner
BSMW
-0.03
TZA
0.00
BSMW vs TZA - Historical Returns
Returns include dividend reinvestment.
1M
BSMW
-0.52%
Winner
TZA
+2.22%
3M
Winner
BSMW
-0.08%
TZA
-22.24%
6M
Winner
BSMW
+0.11%
TZA
-31.00%
1Y
Winner
BSMW
+5.68%
TZA
-62.75%
5Y(CAGR)
BSMW
N/A
TZA
-31.96%
10Y(CAGR)
BSMW
N/A
TZA
-42.89%
Max(CAGR)
Winner
BSMW
+3.20%
TZA
-50.45%
BSMW vs TZA - Annual Returns (2008 - 2026)
Returns include dividend reinvestment.
| Year | BSMW | TZA |
|---|---|---|
| 2026 | +0.72% | -44.63% |
| 2025 | +3.34% | -40.14% |
| 2024 | -0.17% | -33.52% |
| 2023 | +7.00% | -42.13% |
| 2022 | N/A | +35.32% |
| 2021 | N/A | -52.86% |
| 2020 | N/A | -80.41% |
| 2019 | N/A | -52.45% |
| 2018 | N/A | +28.74% |
| 2017 | N/A | -37.30% |
| 2016 | N/A | -58.67% |
| 2015 | N/A | -7.71% |
| 2014 | N/A | -31.55% |
| 2013 | N/A | -65.56% |
| 2012 | N/A | -46.46% |
| 2011 | N/A | -40.32% |
| 2010 | N/A | -65.58% |
| 2009 | N/A | -78.57% |
| 2008 | N/A | -59.11% |
BSMW vs TZA Drawdown Comparison
The maximum drawdown for BSMW was -7.58%, occurring on Oct 25, 2023. Recovery took 164 trading sessions.
The maximum drawdown for TZA was -100.00%, occurring on Jun 30, 2026. This drawdown has not yet recovered.
The current BSMW drawdown is -1.35%. The current TZA drawdown is -100.00%.
| Rank | BSMW | TZA |
|---|---|---|
| #1 | -7.58% Apr 12, 2023 - Dec 5, 2023 | -100.00% Nov 20, 2008 - Jun 30, 2026 |
| #2 | -6.44% Dec 3, 2024 - Sep 15, 2025 | N/A |
| #3 | -3.48% Dec 27, 2023 - Aug 2, 2024 | N/A |
| #4 | -3.20% Oct 1, 2024 - Dec 3, 2024 | N/A |
| #5 | -2.92% Feb 27, 2026 - Mar 26, 2026 | N/A |
| #6 | -1.45% Aug 5, 2024 - Oct 1, 2024 | N/A |
| #7 | -0.69% Mar 17, 2023 - Mar 24, 2023 | N/A |
| #8 | -0.49% Sep 17, 2025 - Oct 7, 2025 | N/A |
| #9 | -0.37% Nov 11, 2025 - Dec 29, 2025 | N/A |
| #10 | -0.37% Apr 6, 2023 - Apr 11, 2023 | N/A |
| #11 | -0.34% Mar 13, 2023 - Mar 15, 2023 | N/A |
| #12 | -0.30% Mar 1, 2023 - Mar 6, 2023 | N/A |
| #13 | -0.27% Dec 6, 2023 - Dec 13, 2023 | N/A |
| #14 | -0.26% Oct 22, 2025 - Nov 11, 2025 | N/A |
| #15 | -0.23% Dec 20, 2023 - Dec 27, 2023 | N/A |
Correlation
Correlation between BSMW and TZA is -0.92 which considered as a very strong negative correlation - the stocks move almost identically in opposite directions.
-0.92
-101
Dividend Comparison (2018 - 2026)
BSMW vs TZA dividend yield comparison.
| Year | BSMW | TZA |
|---|---|---|
| 2026 | 1.90% | 2.73% |
| 2025 | 3.24% | 5.08% |
| 2024 | 3.48% | 5.40% |
| 2023 | 2.36% | 5.49% |
| 2020 | 0.00% | 1.21% |
| 2019 | 0.00% | 1.56% |
| 2018 | 0.00% | 0.63% |
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