AUSM vs. BMOP

Last updated Jun 4, 2026

AUSM (Allspring Ultra Short Municipal ETF) and BMOP (BNY Mellon Municipal Opportunities ETF) are both Municipal Bonds funds. Both are actively managed. At a 0.37 correlation, their price movements are largely independent. AUSM charges 0.18%/yr vs 0.54%/yr for BMOP.

Performance

AUSM vs. BMOP - Performance Comparison

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

Returns By Period

AUSM

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

BMOP

• 1D: -0.07%
• 1M: 0.84%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AUSM vs. BMOP - Yearly Performance Comparison

	2026 (YTD)
AUSM Allspring Ultra Short Municipal ETF	0.80%
BMOP BNY Mellon Municipal Opportunities ETF	1.37%

Correlation

The correlation between AUSM and BMOP is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 13, 2026	0.37

Return for Risk

AUSM vs. BMOP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allspring Ultra Short Municipal ETF (AUSM) and BNY Mellon Municipal Opportunities ETF (BMOP). 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

	AUSM	BMOP	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	3.98	0.96	+3.02

Drawdowns

AUSM vs. BMOP - Drawdown Comparison

The maximum AUSM drawdown since its inception was -0.42%, smaller than the maximum BMOP drawdown of -2.80%. Use the drawdown chart below to compare losses from any high point for AUSM and BMOP.

Drawdown Indicators

	AUSM	BMOP	Difference
Max Drawdown Largest peak-to-trough decline	-0.42%	-2.80%	+2.38%
Current Drawdown Current decline from peak	-0.02%	-0.09%	+0.07%
Average Drawdown Average peak-to-trough decline	-0.09%	-0.82%	+0.73%

Volatility

Volatility by Period

	AUSM	BMOP	Difference
Volatility (1Y) Calculated over the trailing 1-year period	0.73%	3.75%	-3.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.73%	3.75%	-3.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.73%	3.75%	-3.02%

AUSM vs. BMOP - Expense Ratio Comparison

AUSM has a 0.18% expense ratio, which is lower than BMOP's 0.54% expense ratio.

Dividends

AUSM vs. BMOP - Dividend Comparison

AUSM's dividend yield for the trailing twelve months is around 2.39%, more than BMOP's 1.20% yield.

Position	TTM	2025
AUSM Allspring Ultra Short Municipal ETF	2.39%	1.26%
BMOP BNY Mellon Municipal Opportunities ETF	1.20%	0.00%

Frequently Asked Questions

Can I hold both AUSM and BMOP in my portfolio?

AUSM and BMOP have a correlation of 0.37, 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 BMOP?

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 BMOP?

AUSM is cheaper with a 0.18% expense ratio, compared with 0.54% for BMOP.

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

AUSM has the higher dividend yield at 2.39%, compared with 1.20% for BMOP.

What is the main difference between AUSM and BMOP?

They also come from different issuers: Allspring and BNY Mellon. Their fees differ too: 0.18% for AUSM and 0.54% for BMOP.