NCA vs BSMS

Comparison between Nuveen California Municipal Value Fund. (NCA, ETF) and INVESCO BULLETSHARES 2028 MUNICIPAL BOND ETF (BSMS, ETF).

5-Year PerformanceNCA has outperformed BSMS, delivering a return of +1.2% compared to -0.1%

NCA vs BSMS - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	NCA(ETF)	BSMS(ETF)
Net Assets	$308M	$307M
Expense Ratio	N/A	0.18%
Max Drawdown	31.70%	16.51%
Sharpe Ratio	0.70	0.18
5Y Beta	0.14	0.01
5Y Dividends CAGR	3.86%	9.58%

Net Assets

Winner

NCA

$308M

BSMS

$307M

Expense Ratio

NCA

N/A

BSMS

0.18%

Max Drawdown

NCA

31.70%

Winner

BSMS

16.51%

Sharpe Ratio

Winner

NCA

0.70

BSMS

0.18

5Y Beta

NCA

0.14

Winner

BSMS

0.01

5Y Dividends CAGR

NCA

3.86%

Winner

BSMS

9.58%

NCA vs BSMS - Historical Returns

Returns include dividend reinvestment.

Period	NCA	BSMS
1 month	+0.98%	+0.07%
3 months	+0.86%	+0.50%
6 months	-0.01%	+0.72%
1 year	+13.13%	+4.01%
5 years(CAGR)	+1.22%	-0.10%
10 years(CAGR)	+1.82%	N/A
Max(CAGR)	+4.91%	+1.21%

Winner

NCA

+0.98%

BSMS

+0.07%

Winner

NCA

+0.86%

BSMS

+0.50%

NCA

-0.01%

Winner

BSMS

+0.72%

Winner

NCA

+13.13%

BSMS

+4.01%

5Y(CAGR)

Winner

NCA

+1.22%

BSMS

-0.10%

10Y(CAGR)

NCA

+1.82%

BSMS

N/A

Max(CAGR)

Winner

NCA

+4.91%

BSMS

+1.21%

NCA vs BSMS - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	NCA	BSMS
2026	+4.86%	+1.13%
2025	+10.13%	+3.52%
2024	-0.80%	+1.13%
2023	+8.96%	+4.78%
2022	-13.22%	-9.86%
2021	-2.16%	+1.34%
2020	+4.73%	+6.50%
2019	+19.52%	+0.22%
2018	-7.83%	N/A
2017	+1.75%	N/A
2016	+0.41%	N/A
2015	+8.06%	N/A
2014	+19.53%	N/A
2013	-5.95%	N/A
2012	+10.54%	N/A
2011	+16.12%	N/A
2010	+0.45%	N/A
2009	+10.05%	N/A
2008	-3.00%	N/A
2007	-5.56%	N/A
2006	+12.17%	N/A
2005	+9.35%	N/A
2004	+6.39%	N/A
2003	+3.67%	N/A
2002	+1.42%	N/A
2001	+11.60%	N/A
2000	+21.02%	N/A
1999	-8.03%	N/A

NCA vs BSMS Drawdown Comparison

The maximum drawdown for NCA was -23.58%, occurring on Oct 10, 2008. Recovery took 580 trading sessions.

The maximum drawdown for BSMS was -14.95%, occurring on Oct 31, 2022. This drawdown has not yet recovered.

The current NCA drawdown is -4.02%. The current BSMS drawdown is -0.75%.

Rank	NCA	BSMS
#1	-23.58% May 15, 2007 - Sep 1, 2009	-14.95% Jul 19, 2021 - Oct 31, 2022
#2	-22.97% Sep 16, 2021 - Jan 7, 2026	-14.01% Feb 27, 2020 - Jul 16, 2020
#3	-19.28% Mar 3, 2020 - Sep 14, 2020	-2.92% Feb 12, 2021 - Jun 8, 2021
#4	-14.95% Jan 24, 2013 - Apr 25, 2014	-2.40% Aug 10, 2020 - Nov 25, 2020
#5	-14.28% Sep 2, 2010 - Nov 9, 2011	-1.09% Sep 26, 2019 - Dec 3, 2019
#6	-13.49% Sep 22, 2016 - Jul 9, 2019	-0.66% Jun 10, 2021 - Jul 7, 2021
#7	-13.48% Nov 2, 1999 - Mar 30, 2000	-0.55% Jan 6, 2021 - Jan 28, 2021
#8	-12.31% Jun 26, 2003 - Feb 12, 2004	-0.43% Jan 31, 2020 - Feb 18, 2020
#9	-12.29% Feb 17, 2004 - Nov 16, 2004	-0.39% Jul 16, 2020 - Jul 20, 2020
#10	-10.28% Sep 30, 2002 - Jun 12, 2003	-0.32% Dec 4, 2019 - Dec 18, 2019
#11	-9.19% Jan 20, 2021 - Jul 29, 2021	-0.23% Dec 18, 2019 - Jan 2, 2020
#12	-8.33% Mar 30, 2000 - Jun 9, 2000	-0.16% Jan 17, 2020 - Jan 31, 2020
#13	-7.94% Mar 7, 2001 - Jul 23, 2001	-0.13% Nov 25, 2020 - Dec 7, 2020
#14	-7.88% Mar 1, 2012 - May 4, 2012	-0.13% Jul 8, 2021 - Jul 14, 2021
#15	-7.72% Aug 10, 2000 - Jan 4, 2001	-0.11% Dec 29, 2020 - Jan 4, 2021

Correlation

Correlation between NCA and BSMS is 0.90 which considered as a strong positive correlation - the stocks tend to move together.

0.90

-101

Dividend Comparison (2000 - 2026)

NCA vs BSMS dividend yield comparison.

Year	NCA	BSMS
2026	2.25%	1.62%
2025	3.89%	2.79%
2024	4.12%	2.81%
2023	3.88%	2.58%
2022	3.66%	1.56%
2021	3.02%	1.49%
2020	2.98%	1.61%
2019	3.21%	0.46%
2018	3.79%	0.00%
2017	5.33%	0.00%
2016	4.36%	0.00%
2015	4.34%	0.00%
2014	4.45%	0.00%
2013	5.11%	0.00%
2012	4.69%	0.00%
2011	4.81%	0.00%
2010	5.32%	0.00%
2009	5.03%	0.00%
2008	6.90%	0.00%
2007	5.13%	0.00%
2006	4.78%	0.00%
2005	5.39%	0.00%
2004	6.01%	0.00%
2003	5.97%	0.00%
2002	5.49%	0.00%
2001	5.17%	0.00%
2000	2.31%	0.00%