Invesco BulletShares 2028 Corporate Bond ETF

Invesco BulletShares 2028 Corporate Bond ETF (BSCS) held 467 investment-grade corporate bonds that mature in 2028, as of May 31, 2026. The fund is built to wind down. It plans to close on or about December 15, 2028 and pay its assets out to shareholders in cash. That fixed end date makes it act more like a single bond than an ordinary bond fund. It pays income monthly and charges 0.10% a year.

• Over the year to Oct 27, 2026, BSCS returned +2.3%, 2nd of 8 among similar funds.
• Its 5-year annualized return was +1.5%.
• In the 2020 COVID crash it fell 18.4% and regained its old high 2.7 months after the low.
• Its worst full calendar year was 2022 (-11.3%); its best was 2019 (+15.4%).
• The deepest fall in its price history was 18.4% (Mar 4, 2020 to Mar 20, 2020), recovered by Jun 9, 2020.

As of Aug 31, 2026, the fund held 482 securities; the ten largest made up 7.75% of assets, and 6.75% sat in cash and money-market holdings.

The bonds mature in 1.7 years on average (weighted by size), with an average coupon of 4.22%.

• Over the three months to Aug 31, 2026, investors added a net $70.2M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +0.17%, +0.18%, +0.33%.

BSCS tracks the Invesco BulletShares USD Corporate Bond 2028 Index. Invesco Indexing LLC builds the index, and it is affiliated with the fund's adviser. A bond can join the index only if it meets four tests. It must mature in 2028, or be expected to be called (paid off early by the issuer) in 2028. It must pay fixed, taxable interest. It must be investment grade, meaning rated at least BBB- by S&P or Fitch or Baa3 by Moody's. And it must have at least $500 million outstanding. Issuers must be based in the US, Canada, Western Europe or Japan.

Bonds are weighted by market value, and no single issuer can exceed 5% at each monthly rebalance. The fund uses sampling: it holds a representative selection of bonds rather than every one in the index. It generally keeps each bond until the bond matures, is called or drops out of the index. Portfolio turnover was 3%.

The wind-down follows set rules. During 2028, no new bonds join the index, and it rebalances only through June. In the last six months, the fund moves into cash and Treasury bills as its bonds mature. Then it pays out its net assets. It does not promise any set amount at the end, and it is not a target date fund.

• BSCS 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).

BSCS pays monthly income from short-maturity investment-grade corporate bonds and has a known end date in 2028.

BSCS pays income monthly. Its trailing 12-month yield was 4.51% as of October 27, 2026, and its expense ratio is 0.10%. Because the fund ends in 2028, it may help someone set aside money for a known expense around that date. It has not been immune to stress. It fell 18.4% between March 4 and March 20, 2020, then recovered by June 9, 2020. As rates rose in 2022, it dropped 14.6% and took about 23 months to recover, reaching its old high in September 2024. Its worst calendar year was 2022, at -11.34%. It launched in 2018, so it has no record from 2008. Someone forced to sell during a slump could lock in losses. Holding until the 2028 wind-down lowers that risk but does not remove it, because the final payout is not fixed. 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).