At a glance
BSCV charges 0.1% a year, below the 0.13% average of the 7 funds most like it (the 6th cheapest of 8). It has $1.80B in assets, the 8th largest of that group; it paid 4.78% of its price in distributions over the past 12 months, monthly. Over the past year it returned −0.6% with distributions reinvested, the weakest of those 8 funds; over three years it returned +7.1% a year. Its ten largest positions make up 8.5% of the fund, out of 456 in all.
The short version
Invesco BulletShares 2031 Corporate Bond ETF (BSCV) holds investment-grade corporate bonds that mature, or are expected to be repaid early, in 2031. The fund itself is set to close and return cash to shareholders around December 15, 2031, so it behaves more like a single bond than an ordinary bond fund. It charges 0.10% a year and pays monthly. Its trailing 12-month yield was 4.78% as of October 27, 2026.
Price history
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BSCV -0.6% 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 | |
|---|---|---|---|---|---|---|
| BSCV official prospectus, to Dec 31, 2024 | — | +2.97% | — | — | — | -2.63% |
| BSCV price data to Oct 27, 2026 | -0.9% | -0.6% | +7.1% | — | — | +6.0% |
- Over the year to Oct 27, 2026, BSCV returned -0.6%, 8th of 8 among similar funds.
- Its worst full calendar year was 2024 (+2.7%); its best was 2023 (+9.1%).
- The deepest fall in its price history was 8% (Feb 2, 2023 to Oct 19, 2023), recovered by Dec 7, 2023.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -0.9% | — |
| 2025 | +8.9% | — |
| 2024 | +2.7% | +2.97% |
| 2023 | +9.1% | +8.60% |
| 2022 | — | -16.81% |
| 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 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Not in the price data, which starts Oct 18, 2022 |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.6400 | |
| 2025 | $0.7600 | -3.8% |
| 2024 | $0.7900 | +9.7% |
| 2023 | $0.7200 |
What's inside
As of Aug 31, 2026, the fund held 456 securities; the ten largest made up 8.49% of assets.
| Holding | Weight | |
|---|---|---|
| Amazon.com, Inc. Bonds and notes | 1.19% | |
| Amazon.com, Inc. Bonds and notes | 1.01% | |
| NVIDIA Corp. Bonds and notes | 0.94% | |
| Salesforce, Inc. Bonds and notes | 0.92% | |
| Oracle Corp. Bonds and notes | 0.83% | |
| Verizon Communications Inc. Bonds and notes | 0.75% | |
| Meta Platforms, Inc. Bonds and notes | 0.73% | |
| Alphabet Inc. Bonds and notes | 0.71% | |
| Orange Bonds and notes | 0.71% | |
| Oracle Corp. Bonds and notes | 0.71% | |
| AT&T Inc. Bonds and notes | 0.67% | |
| Amazon.com, Inc. Bonds and notes | 0.65% | |
| Cisco Systems, Inc. Bonds and notes | 0.63% | |
| Broadcom Inc. Bonds and notes | 0.60% | |
| Apple Inc. Bonds and notes | 0.60% |
By country
United States 91.68%Canada 2.22%Japan 1.45%Spain 0.97%France 0.71%By issuer
Companies 98.9%The bonds mature in 4.7 years on average (weighted by size), with an average coupon of 3.85%.
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 $115.1M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +0.03%, -0.64%, +0.23%.
How it works
BSCV tracks the Invesco BulletShares USD Corporate Bond 2031 Index. Invesco Indexing LLC builds the index, and it is an affiliate of the fund's adviser. To qualify, a bond must be in US dollars and come from a company based in the US, Canada, Western Europe or Japan. It must pay fixed, taxable interest and be investment grade, meaning rated at least BBB- by S&P or Fitch or Baa3 by Moody's. These are the bottom rungs of the higher-quality ratings. It also needs at least $500 million outstanding. Finally, it must mature in 2031, or be likely to be "called" (repaid early by the company) in 2031.
Bonds are weighted by market value, with no single issuer above 5%. The index rebalances monthly. The fund buys a representative sample instead of every bond. It generally holds each bond until it matures or is called, so portfolio turnover was 1%. As of May 31, 2026, it had 405 holdings, and the top ten made up 9.04%. Amazon (1.39%), Salesforce, Oracle and Verizon led the list, and 92.33% of the fund was in US companies.
In 2031, no new bonds are added and rebalancing stops after June. Over the last six months, bonds that mature turn into cash and Treasury bills, so the fund's yield moves toward cash rates. The fund closes around December 15, 2031, and pays out its net assets in cash. It does not promise a set amount at the end, and it is not a target date fund.
What it really costs
- BSCV 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 |
|---|---|---|---|---|
| BSCV | $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 income monthly from investment-grade corporate bonds and has a fixed end date around December 2031, which may help match money to a known future need.
BSCV may add steady monthly income. Its trailing 12-month yield was 4.78% as of October 27, 2026, though the payments change over time. The fund launched in September 2021, so it has no record from 2008 or 2020. In 2022, as interest rates rose, it lost 16.81%, including an 8.14% drop in the first quarter. In the price history that starts in October 2022, its deepest fall was 8%, from February to October 2023, and it recovered by December 7, 2023. Someone forced to sell in a year like 2022 would have locked in a loss. The fixed end date matters most to holders who can wait for the bonds to mature.
The fee is 0.10% a year. In the SEC's standard example, that comes to $10 in the first year on $10,000. 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
- Investors building a bond ladder who want about 400 investment-grade corporate bonds maturing in 2031 in one trade, for 0.10% a year.
- Retirees planning a known expense around 2031 who like a fund that winds down and returns cash around December 15, 2031.
- Income seekers who want monthly payouts. The trailing 12-month yield was 4.78% as of October 27, 2026.
Look elsewhere if
- Cost-focused investors: broad corporate bond ETFs such as SPIB (0.04%) and VCIT (0.03%) charge less than BSCV's 0.10%.
- Anyone uneasy with losses before maturity: the fund lost 16.81% in 2022 as interest rates rose.
- Investors who want a permanent bond holding or fixed monthly checks. The fund closes around 2031, and its payouts vary over time.
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 |
|---|---|---|---|---|---|
| BSCV this fund | 4.7 yrs | 0.1% | $1.80B | -0.6% | +7.1% |
| 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% |
| IGSB iShares 1-5 Year Investment Grade Corporate… | 3.7 yrs | 0.04% | $23.46B | +1.5% | +5.4% |
| VCSH Vanguard Short-Term Corporate Bond ETF | 3.5 yrs | 0.03% | $51.74B | +1.9% | +5.7% |
| SPSB SPDR Portfolio Short Term Corporate Bond ETF | 2.4 yrs | 0.04% | $10.63B | +2.3% | +5.1% |
| JPST JPMorgan Ultra-Short Income ETF | 2 yrs | 0.18% | $41.13B | +3.1% | +4.8% |
Questions investors ask
Does BSCV pay monthly dividends?
Yes. BSCV pays income monthly. Over the 12 months to October 27, 2026, it paid about $0.76 per share, a trailing yield of 4.78%. The payments are not fixed. They rise and fall with the interest the bonds earn and change as bonds are called or replaced. In the fund's final year, as bonds mature and the money moves into cash and Treasury bills, its yield will tend to fall toward cash rates.
What happens to BSCV when it matures in 2031?
The fund is scheduled to close on or about December 15, 2031, and pay its net assets to shareholders in cash. The fund's board can change that date. During 2031 no new bonds are added, and rebalancing stops after June. In the last six months, maturing bonds turn into cash and Treasury bills. The fund does not promise a set dollar amount at the end, because the final payout depends on how the bonds perform until then.
What's the difference between BSCV and SPIB?
Both hold investment-grade corporate bonds, but BSCV is built around bonds maturing in 2031 and closes around December 15, 2031. SPIB, as its name says, holds intermediate-term corporate bonds. SPIB costs 0.04% a year against BSCV's 0.10%, and it is much larger: $11.57 billion as of June 30, 2026, against BSCV's $1.71 billion as of May 31, 2026. As of October 27, 2026, BSCV returned -0.6% over one year and 7.1% a year over three years. SPIB returned 0.0% and 6.1%.
Can BSCV lose money?
Yes. Bond prices fall when interest rates rise, and BSCV lost 16.81% in 2022. Its average annual return from launch through December 31, 2024, was -2.63%. Its bonds are investment grade, but some carry the lowest qualifying rating, BBB-, and companies can still be downgraded or default. As 2031 gets closer, the bonds' remaining life shrinks, which generally makes their prices less sensitive to rate changes. Even so, selling before then could mean selling at a loss.
What does BSCV hold?
As of May 31, 2026, BSCV held 405 corporate bonds. The average bond had 4.9 years to maturity and a 3.71% coupon, the interest rate printed on the bond. Large technology and telecom companies lead the list: Amazon (1.39%), Salesforce, Oracle, Verizon, Alphabet, Orange, AT&T, Cisco, Broadcom and Apple. No position is large. The top ten made up just 9.04% of the fund. US companies were 92.33% of assets, with smaller amounts from Canada, Japan, France, Spain and Ireland.