ASCI vs. AMUN

Last updated Jun 4, 2026

ASCI (abrdn International Small Cap Active ETF) and AMUN (abrdn Ultra Short Municipal Income Active ETF) are both exchange-traded funds - ASCI is a Foreign Small & Mid Cap Equities fund actively managed by abrdn, while AMUN is a Municipal Bonds fund actively managed by abrdn. Both are actively managed. At a 0.02 correlation, their price movements are largely independent. ASCI charges 0.70%/yr vs 0.25%/yr for AMUN.

Performance

ASCI vs. AMUN - Performance Comparison

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

Returns By Period

In the year-to-date period, ASCI achieves a 7.39% return, which is significantly higher than AMUN's 1.11% return.

ASCI

• 1D: -0.54%
• 1M: 1.38%
• YTD: 7.39%
• 6M: 8.24%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AMUN

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

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

ASCI vs. AMUN - Yearly Performance Comparison

	2026 (YTD)	2025
ASCI abrdn International Small Cap Active ETF	7.39%	1.11%
AMUN abrdn Ultra Short Municipal Income Active ETF	1.11%	0.14%

Correlation

The correlation between ASCI and AMUN is 0.02, 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

ASCI vs. AMUN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for abrdn International Small Cap Active ETF (ASCI) and abrdn Ultra Short Municipal Income Active ETF (AMUN). 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

	ASCI	AMUN	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	2.05	-1.28

Drawdowns

ASCI vs. AMUN - Drawdown Comparison

The maximum ASCI drawdown since its inception was -11.22%, which is greater than AMUN's maximum drawdown of -0.61%. Use the drawdown chart below to compare losses from any high point for ASCI and AMUN.

Drawdown Indicators

	ASCI	AMUN	Difference
Max Drawdown Largest peak-to-trough decline	-11.22%	-0.61%	-10.61%
Current Drawdown Current decline from peak	-2.85%	-0.02%	-2.83%
Average Drawdown Average peak-to-trough decline	-2.39%	-0.09%	-2.30%

Volatility

Volatility by Period

	ASCI	AMUN	Difference
Volatility (1Y) Calculated over the trailing 1-year period	18.68%	1.01%	+17.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.68%	1.01%	+17.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.68%	1.01%	+17.67%

ASCI vs. AMUN - Expense Ratio Comparison

ASCI has a 0.70% expense ratio, which is higher than AMUN's 0.25% expense ratio.

Dividends

ASCI vs. AMUN - Dividend Comparison

ASCI's dividend yield for the trailing twelve months is around 0.75%, less than AMUN's 1.89% yield.

Position	TTM	2025
AMUN abrdn Ultra Short Municipal Income Active ETF	1.89%	0.66%
ASCI abrdn International Small Cap Active ETF	0.75%	0.80%

Frequently Asked Questions

Can I hold both ASCI and AMUN in my portfolio?

ASCI and AMUN have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ASCI or AMUN?

On fees, AMUN is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ASCI or AMUN?

AMUN is cheaper with a 0.25% expense ratio, compared with 0.70% for ASCI.

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

AMUN has the higher dividend yield at 1.89%, compared with 0.75% for ASCI.

What is the main difference between ASCI and AMUN?

ASCI is categorized as Foreign Small & Mid Cap Equities, while AMUN is Municipal Bonds. Their fees differ too: 0.70% for ASCI and 0.25% for AMUN.