AUSM vs. MUNI
AUSM (Allspring Ultra Short Municipal ETF) and MUNI (PIMCO Intermediate Municipal Bond Active ETF) are both Municipal Bonds funds. Both are actively managed. At a 0.11 correlation, their price movements are largely independent. AUSM charges 0.18%/yr vs 0.35%/yr for MUNI.
Performance
AUSM vs. MUNI - Performance Comparison
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Returns By Period
In the year-to-date period, AUSM achieves a 1.30% return, which is significantly lower than MUNI's 1.79% return.
AUSM
- 1D
- 0.01%
- 1M
- 0.28%
- 6M
- 1.32%
- YTD
- 1.30%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MUNI
- 1D
- 0.08%
- 1M
- 0.46%
- 6M
- 1.71%
- YTD
- 1.79%
- 1Y
- 5.80%
- 3Y*
- 3.93%
- 5Y*
- 1.35%
- 10Y*
- 2.11%
AUSM vs. MUNI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
AUSM Allspring Ultra Short Municipal ETF | 1.30% | 1.58% |
MUNI PIMCO Intermediate Municipal Bond Active ETF | 1.79% | 3.99% |
Correlation
The correlation between AUSM and MUNI is 0.11, 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 Jul 8, 2025 | 0.11 |
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Return for Risk
AUSM vs. MUNI — Risk / Return Rank
AUSM
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
MUNI
AUSM vs. MUNI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Allspring Ultra Short Municipal ETF (AUSM) and PIMCO Intermediate Municipal Bond Active ETF (MUNI). 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.
| AUSM | MUNI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.57 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.55 | — |
| Martin ratioReturn relative to average drawdown | — | 8.15 | — |
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Drawdowns
AUSM vs. MUNI - Drawdown Comparison
The maximum AUSM drawdown since its inception was -0.42%, smaller than the maximum MUNI drawdown of -11.15%. Use the drawdown chart below to compare losses from any high point for AUSM and MUNI.
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Drawdown Indicators
| AUSM | MUNI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.42% | -11.15% | +10.73% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.29% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -4.09% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -11.15% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -11.15% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.25% | +0.25% |
Average DrawdownAverage peak-to-trough decline | -0.08% | -1.73% | +1.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.72% | — |
Volatility
AUSM vs. MUNI - Volatility Comparison
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Volatility by Period
| AUSM | MUNI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.45% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 1.63% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 0.74% | 2.23% | -1.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.74% | 3.32% | -2.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.74% | 3.84% | -3.10% |
AUSM vs. MUNI - Expense Ratio Comparison
AUSM has a 0.18% expense ratio, which is lower than MUNI's 0.35% expense ratio.
Dividends
AUSM vs. MUNI - Dividend Comparison
AUSM's dividend yield for the trailing twelve months is around 2.61%, less than MUNI's 3.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AUSM Allspring Ultra Short Municipal ETF | 2.61% | 1.26% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MUNI PIMCO Intermediate Municipal Bond Active ETF | 3.30% | 3.26% | 3.50% | 3.09% | 2.13% | 1.62% | 1.92% | 2.44% | 2.38% | 2.37% | 2.37% | 2.20% |
Frequently Asked Questions
AUSM and MUNI have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
AUSM is cheaper with a 0.18% expense ratio, compared with 0.35% for MUNI.
MUNI has the higher dividend yield at 3.30%, compared with 2.61% for AUSM.
They also come from different issuers: Allspring and PIMCO. Their fees differ too: 0.18% for AUSM and 0.35% for MUNI.
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