Invesco BulletShares 2035 Municipal Bond ETF
BSMZ
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- Invesco BulletShares 2035 Municipal Bond ETF (BSMZ) is an exchange-traded fund that seeks to track the investment results, before fees and expenses, of the Invesco BulletShares Municipal Bond 2035 Index. The fund invests at least 80% of its total assets in a portfolio of U.S. dollar-denominated investment-grade municipal bonds maturing in or with effective maturities in the calendar year 2035; these bonds are predominantly AMT-free and issued by U.S. states, cities, counties, and other municipal entities to finance public projects. It provides targeted exposure to the target-maturity segment of the municipal bond market for investors seeking defined maturity profiles, tax-exempt income, and lower interest rate risk as the portfolio approaches its 2035 bullet maturity date, after which the fund will liquidate and return capital to shareholders. Launched on September 17, 2025, BSMZ represents Invesco's expansion of its BulletShares lineup into longer-dated municipal bond ETFs, building on prior offerings focused on shorter maturities. The fund, part of the Invesco Exchange-Traded Self-Indexed Fund Trust and managed by Invesco Distributors, Inc., trades on the Nasdaq exchange with an expense ratio of 0.18% and has grown its assets under management to approximately $15-17 million as of late 2025. Geographically, it holds bonds from issuers across the United States, targeting institutional and retail fixed-income investors focused on tax-efficient, investment-grade municipal securities. As a recently launched product, BSMZ has no acquisitions, partnerships, or funding rounds specific to the fund itself within its brief history; however, it benefits from Invesco's broader strategic emphasis on target-maturity bond ETFs, including prior additions to the BulletShares suite such as new corporate, high-yield, and municipal offerings. The ETF maintains a non-diversified portfolio aligned precisely with the Invesco Indexing LLC-managed benchmark, which emphasizes market-value weighting of eligible 2035-maturity munis. No major operational changes, name updates, or reorganizations have been reported for BSMZ to date.