Invesco BulletShares 2027 Corporate Bond ETF

Invesco BulletShares 2027 Corporate Bond ETF (BSCR) holds investment-grade corporate bonds that mature, or are expected to be repaid early, in 2027. The fund is scheduled to close on or about December 15, 2027 and pay its assets back to shareholders in cash. That fixed end date makes it behave more like a single bond than a typical bond fund. It charges 0.10% a year, which is more than the 0.03% to 0.04% charged by large short-term corporate bond funds such as VCSH and SPSB.

• Over the year to Oct 27, 2026, BSCR returned +3.4%, 1st of 8 among similar funds.
• Its 5-year annualized return was +1.7%.
• In the 2020 COVID crash it fell 17.3% and regained its old high 2.4 months after the low.
• Its worst full calendar year was 2022 (-9.5%); its best was 2019 (+14.9%).
• The deepest fall in its price history was 17.3% (Mar 4, 2020 to Mar 20, 2020), recovered by Jun 2, 2020.

As of Aug 31, 2026, the fund held 484 securities; the ten largest made up 6.77% of assets, and 7.77% sat in cash and money-market holdings.

The bonds mature in 0.8 years on average (weighted by size), with an average coupon of 3.75%.

• Over the three months to Aug 31, 2026, investors withdrew a net $20.6M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +0.20%, +0.30%, +0.41%.

BSCR tracks the Invesco BulletShares USD Corporate Bond 2027 Index. Invesco Indexing LLC, an affiliate of the fund's adviser, runs the index. It starts with US-dollar bonds from companies based in the US, Canada, Western Europe or Japan. To qualify, a bond must pay a fixed, taxable coupon and be investment grade, meaning rated at least BBB- by S&P or Fitch or Baa3 by Moody's. It must also have at least $500 million outstanding and mature in 2027. Some bonds are callable, which means the issuer can repay them early. For these, the index uses an "effective maturity": the year it expects the bond to be repaid.

Bonds are weighted by market value, and no single issuer can exceed 5% at each monthly rebalance. The fund uses sampling: it holds most of the index's bonds, but not all of them. It usually keeps each bond until it matures or is called, so turnover was just 2%. As of May 31, 2026, the fund held 494 issues. The largest was a Microsoft bond at about 0.9% of assets, followed by Citigroup and Amazon.

In 2027 the index adds no new bonds and rebalances only through June. As bonds mature, the fund moves into cash, Treasury bills and commercial paper. On or about December 15, 2027, it pays out its net assets in cash. The payout amount isn't set in advance, and the fund is not a target-date fund.

• BSCR charges 0.1% a year, versus an average of 0.13% for the similar funds below (6th of 8, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $10 in the first year and $129 over 10 years (assuming a 5% annual return).

Its investment-grade bonds all come due around 2027, so its price swings shrink as the end date nears, and holders get cash back on or about December 15, 2027.

BSCR can work like one rung of a bond ladder: money set aside for spending around the end of 2027. It launched in 2017, so it has no record from the 2008 crisis. In the 2020 COVID crash it fell 17.3% between March 4 and March 20, 2020, but it had recovered by June 2, 2020. The 2022 rate shock did longer-lasting damage. The fund fell 12.3%, took until August 23, 2024 to recover, and lost 9.58% for calendar 2022. Anyone who had to sell during 2022 locked in a loss, while holders who waited got back to even.

The trailing 12-month yield was 4.3% as of October 27, 2026, paid monthly. That yield should fall toward cash rates in the final year. At a 0.10% expense ratio, the SEC's standard example shows $10 in costs for one year on $10,000. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.

Matched by bond funds with the closest average maturity and issuer mix (N-PORT).