At a glance
BSCT charges 0.1% a year, below the 0.13% average of the 7 funds most like it (the 6th cheapest of 8). It has $2.97B in assets, the 8th largest of that group; it paid 4.6% of its price in distributions over the past 12 months, monthly. Over the past year it returned +1.3% with distributions reinvested, 5th of those 8 funds; over three years it returned +6.5% a year. At its worst it fell 18.4% in the 2020 crash (S&P 500: 33.7%) and 16.0% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 3 months and 24 months after the lows. Its ten largest positions make up 7.9% of the fund, out of 485 in all.
The short version
Invesco BulletShares 2029 Corporate Bond ETF (BSCT) holds investment-grade corporate bonds that mature, or are expected to be repaid early, in 2029. The fund is set to close on or about December 15, 2029 and pay its net assets to shareholders in cash. That end date makes it work somewhat like a basket of bonds held to maturity. Its 0.10% expense ratio is below the 0.13% peer average but higher than VCSH, SPSB and IGSB.
Price history
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BSCT +1.3% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| BSCT official prospectus, to Dec 31, 2024 | — | +3.65% | — | +1.21% | — | +1.54% |
| BSCT price data to Oct 27, 2026 | +0.8% | +1.3% | +6.5% | +1.1% | — | +2.2% |
- Over the year to Oct 27, 2026, BSCT returned +1.3%, 5th of 8 among similar funds.
- Its 5-year annualized return was +1.1%.
- In the 2020 COVID crash it fell 18.4% and regained its old high 2.6 months after the low.
- Its worst full calendar year was 2022 (-12.7%); its best was 2020 (+10.8%).
- The deepest fall in its price history was 19.1% (Dec 31, 2020 to Oct 20, 2022), recovered by Jul 21, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +0.8% | — |
| 2025 | +7.5% | — |
| 2024 | +3.4% | +3.65% |
| 2023 | +8.6% | +8.26% |
| 2022 | -12.7% | -12.85% |
| 2021 | -2.3% | -2.00% |
| 2020 | +10.8% | +10.83% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 11.6% over that stretch · deepest drop along the way 18.4%, back to its old high 2.6 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 15.6% over that stretch · deepest drop along the way 16%, back to its old high 23.6 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.7000 | |
| 2025 | $0.8500 | +4.9% |
| 2024 | $0.8100 | +12.5% |
| 2023 | $0.7200 | +44.0% |
| 2022 | $0.5000 | +31.6% |
| 2021 | $0.3800 | -20.8% |
| 2020 | $0.4800 |
What's inside
As of Aug 31, 2026, the fund held 485 securities; the ten largest made up 7.87% of assets, and 10.27% sat in cash and money-market holdings.
| Holding | Weight | |
|---|---|---|
| AbbVie Inc. Bonds and notes | 1.20% | |
| Salesforce, Inc. Bonds and notes | 0.98% | |
| NVIDIA Corp. Bonds and notes | 0.80% | |
| Centene Corp. Bonds and notes | 0.73% | |
| International Business Machines Corp. Bonds and notes | 0.73% | |
| AT&T Inc. Bonds and notes | 0.69% | |
| Verizon Communications Inc. Bonds and notes | 0.69% | |
| Amazon.com, Inc. Bonds and notes | 0.68% | |
| Oracle Corp. Bonds and notes | 0.68% | |
| Anheuser Busch InBev Worldwide Inc. Bonds and notes | 0.68% | |
| Fiserv, Inc. Bonds and notes | 0.67% | |
| Amazon.com, Inc. Bonds and notes | 0.67% | |
| Cisco Systems, Inc. Bonds and notes | 0.58% | |
| AbbVie Inc. Bonds and notes | 0.58% | |
| Wells Fargo & Co. Bonds and notes | 0.57% |
By country
United States 87.76%Canada 3.14%Japan 2.59%Ireland 1.4%United Kingdom 1.28%By issuer
Companies 98.48%The bonds mature in 2.7 years on average (weighted by size), with an average coupon of 4.37%.
Source: N-PORT holdings report as of Aug 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Aug 31, 2026, investors added a net $175.3M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +0.11%, -0.05%, +0.27%.
How it works
BSCT tracks the Invesco BulletShares USD Corporate Bond 2029 Index. Invesco Indexing LLC, an affiliate of the fund's adviser, builds the index. It starts with US dollar bonds from companies based in the US, Canada, Western Europe or Japan. To qualify, a bond must mature in 2029 or have an "effective maturity" in 2029, meaning the issuer is likely to call it (repay it early) that year. It must also pay fixed, taxable interest, be rated at least BBB- or Baa3 (the lowest investment-grade tier), and have at least $500 million outstanding.
Bonds are weighted by market value, and no single issuer can exceed 5% at each monthly rebalance. The fund uses sampling, which means it owns a representative subset of the index rather than every bond. It usually holds bonds until they mature, are called or leave the index, so the prospectus reports turnover of just 3%. As of May 31, 2026, the fund held 454 issues. AbbVie (1.3%), Salesforce (1.0%) and IBM (0.8%) were the largest.
No new bonds join the index in 2029, and rebalancing stops after June. In the final six months, maturing bonds become cash, Treasury bills and commercial paper, so the yield drifts toward cash rates. The fund then pays out its net assets, but it does not aim to return any set amount. It is not a target date fund.
What it really costs
- BSCT 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).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| BSCT | $10 | $32 | $57 | $129 |
Structure and tax notes
- Bond prices move opposite to interest rates; the longer the maturities it holds, the more its price reacts to rate changes.
In a retirement portfolio
It pays monthly income from investment-grade corporate bonds and is built to wind down and return cash around December 2029, which suits a dated income need.
BSCT could serve as one rung of a bond ladder for someone who expects to need cash around the end of 2029. It paid monthly, with a trailing 12-month yield of 4.6% ($0.84 a share) as of October 27, 2026. It costs 0.10% a year, which works out to $10 in the first year on $10,000 under the SEC's standard example. The fund started in September 2019, so it has no record from 2008. It dropped 18.4% in March 2020 and recovered by June. In 2022 it lost 12.85%, its worst calendar year. Its deepest drop, 19.1%, took 33 months to recover, through July 2025. Anyone who had to cash out in late 2022 would have locked in losses. As the bonds near maturity, interest rates should move the price less, but payouts and the final amount still vary. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- People planning for a known 2029 expense; the fund holds investment-grade bonds maturing that year and plans to close around December 15, 2029.
- Income seekers wanting monthly payouts; its yield over the prior year was 4.6% as of October 27, 2026.
- Investors wanting investment-grade company bonds spread across 485 holdings, led by AbbVie, Salesforce and NVIDIA, as of August 31, 2026.
Look elsewhere if
- Cost-focused investors: the 0.10% annual expense ratio is below the 0.13% peer average but above SPSB's 0.04% and VCSH's 0.03%.
- Anyone unable to tolerate interim losses: it fell 12.85% in 2022 and took until July 2025 to recover from a 19.1% drop.
- Those needing a guaranteed sum: the fund promises no set amount at termination, and its yield drifts toward cash rates during 2029.
Close alternatives
Matched by bond funds with the closest average maturity and issuer mix (N-PORT).
| Fund | Avg. maturity | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| BSCT this fund | 2.7 yrs | 0.1% | $2.97B | +1.3% | +6.5% |
| SPSB SPDR Portfolio Short Term Corporate Bond ETF | 2.4 yrs | 0.04% | $10.63B | +2.3% | +5.1% |
| VCSH Vanguard Short-Term Corporate Bond ETF | 3.5 yrs | 0.03% | $51.74B | +1.9% | +5.7% |
| IGSB iShares 1-5 Year Investment Grade Corporate… | 3.7 yrs | 0.04% | $23.46B | +1.5% | +5.4% |
| JPST JPMorgan Ultra-Short Income ETF | 2 yrs | 0.18% | $41.13B | +3.1% | +4.8% |
| USHY iShares Broad USD High Yield Corporate Bond… | 5.4 yrs | 0.08% | $28.59B | +1.2% | +7.7% |
| HYG iShares iBoxx $ High Yield Corporate Bond E… | 5.4 yrs | 0.49% | $16.19B | +0.9% | +7.4% |
| SPIB SPDR Portfolio Intermediate Term Corporate … | 5.6 yrs | 0.04% | $11.57B | 0.0% | +6.1% |
Questions investors ask
When does BSCT mature?
BSCT is scheduled to close on or about December 15, 2029, though the fund's board can change that date. No new bonds are added during 2029. In the last six months, maturing bonds turn into cash, Treasury bills and commercial paper. The fund then pays its net assets to shareholders in cash. The prospectus says it does not aim to pay out any set amount, so the final payout depends on how the bonds and interest rates behave until then.
Does BSCT pay monthly dividends?
Yes. BSCT pays distributions monthly. Over the 12 months to October 27, 2026, it paid $0.84 a share, a trailing yield of 4.6%. The payments come from interest on the corporate bonds it holds, which had an average coupon of 4.36% as of May 31, 2026. Distributions vary over time. In the final year, the yield is likely to fall toward cash rates as the bonds mature.
What's the difference between BSCT and VCSH?
The biggest difference is the end date. BSCT closes around December 2029. Conventional short-term funds like Vanguard Short-Term Corporate Bond ETF (VCSH) generally keep replacing bonds as they mature. Their holdings are otherwise similar, and VCSH is the closest match among similar funds. VCSH charges 0.03%, against BSCT's 0.10%. As of late October 2026, VCSH returned 1.7% over one year and 5.6% a year over three years. BSCT returned 1.3% and 6.5%.
Can you lose money in BSCT?
Yes. Bond prices fall when interest rates rise, and BSCT lost 12.85% in 2022. Its deepest drop was 19.1%, from December 2020 to October 2022, and it didn't fully recover until July 2025. Companies can also fail to pay or have their credit ratings cut. As the bonds approach maturity, rate changes should move the price less. Still, the fund does not guarantee any amount at the end.
Is BSCT good for retirement income?
It may suit retirees who want monthly income from investment-grade corporate bonds and who need cash around the end of 2029. It costs 0.10% a year, or $57 over five years on $10,000 under the SEC's standard example. Its prospectus average annual return over five years was 1.21% as of December 31, 2024. Because the fund ends in 2029, holders will need a plan for reinvesting the money once it's paid out.