AUSM vs. ALRG

Last updated Jun 23, 2026

AUSM (Allspring Ultra Short Municipal ETF) and ALRG (Allspring LT Large Core ETF) are both exchange-traded funds - AUSM is a Municipal Bonds fund actively managed by Allspring, while ALRG is a Large Cap Blend Equities fund actively managed by Allspring. Both are actively managed. At a 0.03 correlation, their price movements are largely independent. AUSM charges 0.18%/yr vs 0.28%/yr for ALRG.

Performance

AUSM vs. ALRG - Performance Comparison

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

Returns By Period

In the year-to-date period, AUSM achieves a 1.20% return, which is significantly lower than ALRG's 6.98% return.

AUSM

• 1D: 0.02%
• 1M: 0.25%
• YTD: 1.20%
• 6M: 1.34%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ALRG

• 1D: -0.90%
• 1M: -1.23%
• YTD: 6.98%
• 6M: 6.99%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AUSM vs. ALRG - Yearly Performance Comparison

	2026 (YTD)	2025
AUSM Allspring Ultra Short Municipal ETF	1.20%	1.58%
ALRG Allspring LT Large Core ETF	6.98%	11.78%

Correlation

The correlation between AUSM and ALRG is 0.03, 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 Jul 8, 2025	0.03

Return for Risk

AUSM vs. ALRG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allspring Ultra Short Municipal ETF (AUSM) and Allspring LT Large Core ETF (ALRG). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

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

Drawdowns

AUSM vs. ALRG - Drawdown Comparison

The maximum AUSM drawdown since its inception was -0.42%, smaller than the maximum ALRG drawdown of -9.27%. Use the drawdown chart below to compare losses from any high point for AUSM and ALRG.

Drawdown Indicators

	AUSM	ALRG	Difference
Max Drawdown Largest peak-to-trough decline	-0.42%	-9.27%	+8.85%
Current Drawdown Current decline from peak	-0.01%	-2.85%	+2.84%
Average Drawdown Average peak-to-trough decline	-0.09%	-1.35%	+1.26%

Volatility

Volatility by Period

	AUSM	ALRG	Difference
Volatility (1Y) Calculated over the trailing 1-year period	0.75%	12.83%	-12.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.75%	12.83%	-12.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.75%	12.83%	-12.08%

AUSM vs. ALRG - Expense Ratio Comparison

AUSM has a 0.18% expense ratio, which is lower than ALRG's 0.28% expense ratio.

Dividends

AUSM vs. ALRG - Dividend Comparison

AUSM's dividend yield for the trailing twelve months is around 2.39%, more than ALRG's 0.44% yield.

Position	TTM	2025
ALRG Allspring LT Large Core ETF	0.44%	0.47%
AUSM Allspring Ultra Short Municipal ETF	2.39%	1.26%

Frequently Asked Questions

Can I hold both AUSM and ALRG in my portfolio?

AUSM and ALRG have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AUSM or ALRG?

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, AUSM or ALRG?

AUSM is cheaper with a 0.18% expense ratio, compared with 0.28% for ALRG.

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

AUSM has the higher dividend yield at 2.39%, compared with 0.44% for ALRG.

What is the main difference between AUSM and ALRG?

AUSM is categorized as Municipal Bonds, while ALRG is Large Cap Blend Equities. Their fees differ too: 0.18% for AUSM and 0.28% for ALRG.