AMUN vs. AUSM

Last updated Jun 4, 2026

AMUN (abrdn Ultra Short Municipal Income Active ETF) and AUSM (Allspring Ultra Short Municipal ETF) are both Municipal Bonds funds. Both are actively managed. At a correlation of -0.01, they often move in opposite directions. AMUN charges 0.25%/yr vs 0.18%/yr for AUSM.

Performance

AMUN vs. AUSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in abrdn Ultra Short Municipal Income Active ETF (AMUN) and Allspring Ultra Short Municipal ETF (AUSM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMUN achieves a 1.11% return, which is significantly higher than AUSM's 0.98% return.

AMUN

• 1D: -0.02%
• 1M: 0.32%
• YTD: 1.11%
• 6M: 1.36%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AUSM

• 1D: -0.02%
• 1M: 0.21%
• YTD: 0.98%
• 6M: 1.34%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AMUN vs. AUSM - Yearly Performance Comparison

	2026 (YTD)	2025
AMUN abrdn Ultra Short Municipal Income Active ETF	1.11%	0.14%
AUSM Allspring Ultra Short Municipal ETF	0.98%	0.62%

Correlation

The correlation between AMUN and AUSM is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 21, 2025	-0.02

Return for Risk

AMUN vs. AUSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for abrdn Ultra Short Municipal Income Active ETF (AMUN) and Allspring Ultra Short Municipal ETF (AUSM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	AMUN	AUSM	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	2.05	3.98	-1.93

Drawdowns

AMUN vs. AUSM - Drawdown Comparison

The maximum AMUN drawdown since its inception was -0.61%, which is greater than AUSM's maximum drawdown of -0.42%. Use the drawdown chart below to compare losses from any high point for AMUN and AUSM.

Drawdown Indicators

	AMUN	AUSM	Difference
Max Drawdown Largest peak-to-trough decline	-0.61%	-0.42%	-0.19%
Current Drawdown Current decline from peak	-0.02%	-0.02%	0.00%
Average Drawdown Average peak-to-trough decline	-0.09%	-0.09%	0.00%

Volatility

Volatility by Period

	AMUN	AUSM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	1.01%	0.73%	+0.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.01%	0.73%	+0.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.01%	0.73%	+0.28%

AMUN vs. AUSM - Expense Ratio Comparison

AMUN has a 0.25% expense ratio, which is higher than AUSM's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

AMUN vs. AUSM - Dividend Comparison

AMUN's dividend yield for the trailing twelve months is around 1.89%, less than AUSM's 2.39% yield.

Position	TTM	2025
AMUN abrdn Ultra Short Municipal Income Active ETF	1.89%	0.66%
AUSM Allspring Ultra Short Municipal ETF	2.39%	1.26%

Frequently Asked Questions

Can I hold both AMUN and AUSM in my portfolio?

AMUN and AUSM have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AMUN or AUSM?

On fees, AUSM is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AMUN or AUSM?

AUSM is cheaper with a 0.18% expense ratio, compared with 0.25% for AMUN.

Which ETF pays a higher dividend yield, AMUN or AUSM?

AUSM has the higher dividend yield at 2.39%, compared with 1.89% for AMUN.

What is the main difference between AMUN and AUSM?

They also come from different issuers: abrdn and Allspring. Their fees differ too: 0.25% for AMUN and 0.18% for AUSM.