Invesco Exchange-Traded Self-Indexed Fund Trust - Invesco BulletShares 2021 Municipal Bond ETF
BSML
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- Invesco Exchange-Traded Self-Indexed Fund Trust - Invesco BulletShares 2021 Municipal Bond ETF (BSML) is an exchange-traded fund that seeks to track the performance, before fees and expenses, of the Invesco BulletShares USD Municipal Bond 2021 Index. The fund invests at least 80% of its total assets in investment-grade, USD-denominated municipal bonds that are exempt from federal alternative minimum tax (AMT) and have effective maturities in the year 2021; it features monthly rebalancing and holds a market-value-weighted portfolio of such securities, including notable holdings like New York & New Jersey Port Authority bonds and Massachusetts Bay Transportation Authority debt. Launched on September 25, 2019, as part of Invesco's BulletShares suite, BSML operates within the municipal bond segment targeting investors seeking tax-advantaged fixed income exposure with a defined maturity profile; the underlying Trust is domiciled in Wilmington, Delaware, with management oversight from Invesco Capital Management LLC in Downers Grove, Illinois. Geographic operations focus on U.S. municipal issuers across states and localities, serving institutional and retail investors in the fixed income market through Nasdaq listings and a net expense ratio of 0.18%. The BulletShares municipal bond series, including BSML, provides targeted access to ladders of AMT-free bonds maturing in specific years, with semi-annual index reconstitutions and monthly rebalancing to maintain alignment. In recent developments, BSML, having reached its target maturity year of 2021, follows the BulletShares structure where funds liquidate post-maturity, akin to the Invesco BulletShares 2024 Corporate Bond ETF's termination on December 13, 2024; trading and creation orders ceased for comparable 2025 series funds in December 2025, signaling BSML's likely prior liquidation around year-end 2021. Invesco expanded the BulletShares suite with new issuances, such as 2031 maturities in corporate, high yield, and municipal bonds launched to replace maturing funds like those from 2021, enhancing the laddering options from 2022 to 2031. Additionally, Invesco's acquisition of Guggenheim's ETF business integrated BulletShares capabilities, reducing fees and bolstering the platform amid ongoing ETF innovation.