At a glance
BSJQ charges 0.43% a year, below the 0.5% average of the 7 funds most like it (the 5th cheapest of 8). It has $809.2M in assets, the 8th largest of that group; it paid 5.31% of its price in distributions over the past 12 months, monthly. Over the past year it returned +2.7% with distributions reinvested, 3rd of those 8 funds; over three years it returned +6.9% a year. At its worst it fell 24.1% in the 2020 crash (S&P 500: 33.7%) and 11.7% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 8 months and 18 months after the lows. Its ten largest positions make up 24.1% of the fund, out of 21 in all.
The short version
Invesco BulletShares 2026 High Yield Corp Bond ETF (BSJQ) holds US dollar junk bonds that mature or are expected to be repaid in 2026. Unlike most bond funds, it has an end date: it is scheduled to close on or about December 15, 2026, and pay out its assets in cash. It pays income monthly and costs 0.43% a year, slightly below the 0.50% average of similar funds.
Price history
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BSJQ +2.7% 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 | |
|---|---|---|---|---|---|---|
| BSJQ official prospectus, to Dec 31, 2024 | — | +7.47% | — | +3.34% | — | +4.60% |
| BSJQ price data to Oct 27, 2026 | +1.9% | +2.7% | +6.9% | +3.7% | — | +4.6% |
- Over the year to Oct 27, 2026, BSJQ returned +2.7%, 3rd of 8 among similar funds.
- Its 5-year annualized return was +3.7%.
- In the 2020 COVID crash it fell 24.1% and regained its old high 7.9 months after the low.
- Its worst full calendar year was 2022 (-7.3%); its best was 2019 (+17.9%).
- The deepest fall in its price history was 24.1% (Feb 14, 2020 to Mar 23, 2020), recovered by Nov 19, 2020.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +1.9% | — |
| 2025 | +6.6% | — |
| 2024 | +7.4% | +7.47% |
| 2023 | +9.9% | +10.26% |
| 2022 | -7.3% | -7.50% |
| 2021 | +4.5% | +4.62% |
| 2020 | +2.8% | +2.78% |
| 2019 | +17.9% | +18.01% |
| 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 24.1% over that stretch · deepest drop along the way 24.1%, back to its old high 7.9 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 10.6% over that stretch · deepest drop along the way 11.7%, back to its old high 17.5 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.9900 | |
| 2025 | $1.4200 | -6.6% |
| 2024 | $1.5200 | -1.3% |
| 2023 | $1.5400 | +22.2% |
| 2022 | $1.2600 | +15.0% |
| 2021 | $1.0952 | -7.8% |
| 2020 | $1.1884 | -17.9% |
| 2019 | $1.4472 |
What's inside
As of Aug 31, 2026, the fund held 21 securities; the ten largest made up 24.13% of assets, and 68% sat in cash and money-market holdings.
| Holding | Weight | |
|---|---|---|
| NCR Atleos Corp. Bonds and notes | 4.14% | |
| Altice France Bonds and notes | 3.90% | |
| IQVIA Inc. Bonds and notes | 3.00% | |
| LifePoint Health, Inc. Bonds and notes | 2.40% | |
| Bombardier Inc. Bonds and notes | 2.26% | |
| Aretec Group, Inc. Bonds and notes | 1.90% | |
| Allwyn Entertainment Financing (UK) PLC Bonds and notes | 1.85% | |
| Buckeye Partners, L.P. Bonds and notes | 1.71% | |
| Freedom Mortgage Corp. Bonds and notes | 1.55% | |
| Sirius XM Radio LLC. Bonds and notes | 1.43% | |
| Team Health Holdings, Inc. Bonds and notes | 1.23% | |
| Cushman & Wakefield U.S. Borrower, LLC Bonds and notes | 1.20% | |
| Greystar Real Estate Partners, LLC Bonds and notes | 1.19% | |
| Crown Americas LLC / Crown Americas Capital Corp V Bonds and notes | 1.14% | |
| MGM Resorts International Bonds and notes | 1.14% |
By country
United States 25.45%France 3.9%Canada 2.26%United Kingdom 1.85%By issuer
Companies 33.45%The bonds mature in 2.4 years on average (weighted by size), with an average coupon of 7.93%.
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 withdrew a net $216.0M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +0.08%, +0.18%, +0.43%.
How it works
BSJQ tracks the Invesco BulletShares USD High Yield Corporate Bond 2026 Index. Invesco Indexing LLC, an affiliate of the fund's adviser, builds and runs the index. The index holds high-yield corporate bonds, also called "junk bonds," which are issued by companies with below-investment-grade credit ratings. Each bond must mature, or be expected to be called (repaid early by the issuer), in 2026. Eligible bonds come from companies based in the US, Canada, Western Europe or Japan. They must pay fixed taxable interest, be rated no higher than BB+ (or Ba1) and no lower than CCC- on average, and have at least $200 million outstanding.
Bonds are weighted by market value. Before 2026, the index rebalanced monthly and capped any single issuer at 5%. The fund uses "sampling," so it does not buy every bond in the index. It generally holds bonds until they mature, are called or leave the index. Its portfolio turnover was 82%.
In 2026, the index's final year, it adds no new bonds and does not rebalance. As bonds mature, the fund moves into cash and cash equivalents such as Treasury bills. As of August 31, 2026, about 68% of the fund was cash and about 33% was bonds. The fund will close on or about December 15, 2026, and pay out its net assets in cash. It does not promise a set amount at maturity. It is also not a target date fund.
What it really costs
- BSJQ charges 0.43% a year, versus an average of 0.5% for the similar funds below (5th of 8, cheapest first).
- Of that, 0.42% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $44 in the first year and $542 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| BSJQ | $44 | $138 | $241 | $542 |
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
BSJQ is built as one rung of a bond ladder: it pays monthly junk-bond income and then returns cash when it closes on or about December 15, 2026.
BSJQ pays income monthly. Its trailing 12-month yield was 5.31% as of October 27, 2026. But about 68% of the fund was in cash as of August 31, 2026, so payouts may shrink as its last bonds mature. Its history shows the credit risk of junk bonds. It fell 24.1% in the 2020 COVID crash and took about eight months to recover. In 2022 it dropped 11.7% and needed about 17.5 months to get back to its peak. Its worst calendar year was 2022, at -7.50%. The fund launched in 2018, so it has no 2008 record. Anyone who had to sell during those stretches would have locked in losses. It costs 0.43% a year, or $44 in the first year on the SEC's standard $10,000 example. 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 a 2026 junk-bond rung that returns cash on or about December 15, 2026.
- Holders who want monthly income. The trailing 12-month yield was 5.31% as of October 27, 2026.
- People who want a known end date rather than an open-ended high-yield fund like SHYG or SJNK, which keep replacing their bonds.
Look elsewhere if
- Anyone wanting a long-term holding. The fund is scheduled to close and pay out cash on or about December 15, 2026.
- Cost-focused investors. HYLB charges 0.05% against BSJQ's 0.43%, though HYLB holds longer-dated bonds and has no end date.
- Those uneasy with sharp drops. BSJQ fell 24.1% in early 2020 and 11.7% in 2022 before it recovered.
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 |
|---|---|---|---|---|---|
| BSJQ this fund | 2.4 yrs | 0.43% | $809.2M | +2.7% | +6.9% |
| SHYG iShares 0-5 Year High Yield Corporate Bond … | 3.1 yrs | 0.3% | $7.60B | +2.4% | +8.0% |
| SJNK SPDR Bloomberg Short Term High Yield Bond E… | 3.1 yrs | 0.4% | $4.88B | +1.5% | +7.8% |
| HYLB Xtrackers USD High Yield Corporate Bond ETF | 4.6 yrs | 0.05% | $3.56B | +1.6% | +8.7% |
| BKLN Invesco Senior Loan ETF | 4.8 yrs | 0.65% | $6.74B | +3.9% | +6.9% |
| HYDB iShares High Yield Systematic Bond ETF | 5.2 yrs | 0.35% | $1.61B | +0.9% | +8.7% |
| SRLN SPDR Blackstone Senior Loan ETF | 5.2 yrs | 0.7% | $5.21B | +3.7% | +7.0% |
| HYLS First Trust Tactical High Yield ETF | 5.2 yrs | 1.05% | $1.62B | +1.6% | +8.3% |
Questions investors ask
What happens to BSJQ when it matures?
BSJQ is scheduled to close on or about December 15, 2026, and pay its net assets to shareholders in cash. The fund's board can change that date. In the final year, its bonds mature and the fund moves into cash and Treasury bills. About 68% of the fund was in cash as of August 31, 2026. The fund does not promise a set payout amount at maturity, so what you get back depends on how its bonds performed.
Does BSJQ pay monthly dividends?
Yes. BSJQ pays income monthly. Its trailing 12-month yield was 5.31% as of October 27, 2026, or about $1.21 per share. The amount varies over time, unlike the fixed coupon on a single bond. As the fund's 2026 bonds mature and the money moves into cash and Treasury bills, the monthly payouts may get smaller before the fund closes.
BSJQ vs SHYG: what's the difference?
Both funds hold short-term junk bonds, but SHYG (iShares 0-5 Year High Yield Corporate Bond ETF) has no end date and keeps replacing bonds as they mature. BSJQ closes on or about December 15, 2026. SHYG costs 0.30% against BSJQ's 0.43% and is much larger. As of October 27, 2026, SHYG returned 2.4% over one year and 8.0% a year over three years. BSJQ returned 2.7% and 6.9%.
How much did BSJQ lose in 2020 and 2022?
BSJQ fell 24.1% between February and March 23, 2020, during the COVID crash. It recovered by November 19, 2020, about eight months later. In 2022 it dropped 11.7% from January 3 to June 13 and did not regain its peak until November 28, 2023. Its 2022 calendar-year return was -7.50%, its worst full year. Its worst quarter was -13.61%, in early 2020.
What is BSJQ's expense ratio?
BSJQ's expense ratio is 0.43% a year, according to its prospectus filed December 18, 2025. The management fee is 0.42%. The SEC's standard example puts the cost at $44 after one year and $138 after three years on a $10,000 investment earning 5% a year. That is a little below the 0.50% average for similar funds, but above HYLB at 0.05% and SHYG at 0.30%.