AUSM vs. FUMB

Last updated Jun 4, 2026

AUSM (Allspring Ultra Short Municipal ETF) and FUMB (First Trust Ultra Short Duration Municipal ETF) are both Municipal Bonds funds. Both are actively managed. At a 0.08 correlation, their price movements are largely independent. AUSM charges 0.18%/yr vs 0.45%/yr for FUMB.

Performance

AUSM vs. FUMB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allspring Ultra Short Municipal ETF (AUSM) and First Trust Ultra Short Duration Municipal ETF (FUMB). 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 FUMB's 1.15% return.

AUSM

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

FUMB

• 1D: 0.07%
• 1M: 0.27%
• YTD: 1.15%
• 6M: 1.33%
• 1Y: 2.63%
• 3Y*: 3.00%
• 5Y*: 1.98%
• 10Y*: —

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

AUSM vs. FUMB - Yearly Performance Comparison

	2026 (YTD)	2025
AUSM Allspring Ultra Short Municipal ETF	0.98%	1.63%
FUMB First Trust Ultra Short Duration Municipal ETF	1.15%	1.14%

Correlation

The correlation between AUSM and FUMB is 0.08, 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 9, 2025	0.08

Return for Risk

AUSM vs. FUMB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FUMB

FUMB Risk / Return Rank: 96
FUMB Sharpe Ratio Rank: 93
FUMB Sortino Ratio Rank: 96
FUMB Omega Ratio Rank: 96
FUMB Calmar Ratio Rank: 97
FUMB Martin Ratio Rank: 97

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AUSM vs. FUMB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allspring Ultra Short Municipal ETF (AUSM) and First Trust Ultra Short Duration Municipal ETF (FUMB). 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	FUMB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.46	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.71	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.98	1.01	+2.97

Drawdowns

AUSM vs. FUMB - Drawdown Comparison

The maximum AUSM drawdown since its inception was -0.42%, smaller than the maximum FUMB drawdown of -2.68%. Use the drawdown chart below to compare losses from any high point for AUSM and FUMB.

Drawdown Indicators

	AUSM	FUMB	Difference
Max Drawdown Largest peak-to-trough decline	-0.42%	-2.68%	+2.26%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.22%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.60%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-1.25%	—
Current Drawdown Current decline from peak	-0.02%	0.00%	-0.02%
Average Drawdown Average peak-to-trough decline	-0.09%	-0.19%	+0.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.06%	—

Volatility

Volatility by Period

	AUSM	FUMB	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.20%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.54%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.73%	0.76%	-0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.73%	1.16%	-0.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.73%	1.77%	-1.04%

AUSM vs. FUMB - Expense Ratio Comparison

AUSM has a 0.18% expense ratio, which is lower than FUMB's 0.45% expense ratio.

Dividends

AUSM vs. FUMB - Dividend Comparison

AUSM's dividend yield for the trailing twelve months is around 2.39%, less than FUMB's 2.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
AUSM Allspring Ultra Short Municipal ETF	2.39%	1.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FUMB First Trust Ultra Short Duration Municipal ETF	2.80%	2.90%	2.86%	2.24%	1.02%	0.43%	0.94%	1.74%	0.15%

Frequently Asked Questions

Can I hold both AUSM and FUMB in my portfolio?

AUSM and FUMB have a correlation of 0.08, 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 FUMB?

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 FUMB?

AUSM is cheaper with a 0.18% expense ratio, compared with 0.45% for FUMB.

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

FUMB has the higher dividend yield at 2.80%, compared with 2.39% for AUSM.

What is the main difference between AUSM and FUMB?

They also come from different issuers: Allspring and First Trust. Their fees differ too: 0.18% for AUSM and 0.45% for FUMB.