AUSM vs. BSMZ

Last updated Jun 4, 2026

AUSM (Allspring Ultra Short Municipal ETF) and BSMZ (Invesco BulletShares 2035 Municipal Bond ETF) are both Municipal Bonds funds. AUSM is actively managed, while BSMZ is passively managed. At a 0.05 correlation, their price movements are largely independent. Both charge a 0.18% expense ratio.

Performance

AUSM vs. BSMZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allspring Ultra Short Municipal ETF (AUSM) and Invesco BulletShares 2035 Municipal Bond ETF (BSMZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AUSM achieves a 0.98% return, which is significantly lower than BSMZ's 1.78% return.

AUSM

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

BSMZ

• 1D: 0.20%
• 1M: 0.85%
• YTD: 1.78%
• 6M: 2.27%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AUSM vs. BSMZ - Yearly Performance Comparison

	2026 (YTD)	2025
AUSM Allspring Ultra Short Municipal ETF	0.98%	0.59%
BSMZ Invesco BulletShares 2035 Municipal Bond ETF	1.78%	1.82%

Correlation

The correlation between AUSM and BSMZ is 0.05, 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 Sep 18, 2025	0.05

Return for Risk

AUSM vs. BSMZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allspring Ultra Short Municipal ETF (AUSM) and Invesco BulletShares 2035 Municipal Bond ETF (BSMZ). 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	BSMZ	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	3.98	1.38	+2.59

Drawdowns

AUSM vs. BSMZ - Drawdown Comparison

The maximum AUSM drawdown since its inception was -0.42%, smaller than the maximum BSMZ drawdown of -3.26%. Use the drawdown chart below to compare losses from any high point for AUSM and BSMZ.

Drawdown Indicators

	AUSM	BSMZ	Difference
Max Drawdown Largest peak-to-trough decline	-0.42%	-3.26%	+2.84%
Current Drawdown Current decline from peak	-0.02%	-0.39%	+0.37%
Average Drawdown Average peak-to-trough decline	-0.09%	-0.70%	+0.61%

Volatility

Volatility by Period

	AUSM	BSMZ	Difference
Volatility (1Y) Calculated over the trailing 1-year period	0.73%	3.76%	-3.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.73%	3.76%	-3.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.73%	3.76%	-3.03%

AUSM vs. BSMZ - Expense Ratio Comparison

Both AUSM and BSMZ have an expense ratio of 0.18%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

AUSM vs. BSMZ - Dividend Comparison

AUSM's dividend yield for the trailing twelve months is around 2.39%, more than BSMZ's 2.02% yield.

Position	TTM	2025
AUSM Allspring Ultra Short Municipal ETF	2.39%	1.26%
BSMZ Invesco BulletShares 2035 Municipal Bond ETF	2.02%	0.68%

Frequently Asked Questions

Can I hold both AUSM and BSMZ in my portfolio?

AUSM and BSMZ have a correlation of 0.05, 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 BSMZ?

Both ETFs have the same 0.18% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AUSM or BSMZ?

AUSM and BSMZ have the same expense ratio: 0.18% per year.

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

AUSM has the higher dividend yield at 2.39%, compared with 2.02% for BSMZ.

What is the main difference between AUSM and BSMZ?

They also come from different issuers: Allspring and Invesco.