AUSM vs. NUMI
AUSM (Allspring Ultra Short Municipal ETF) and NUMI (Nuveen Municipal Income ETF) are both Municipal Bonds funds. Both are actively managed. Over the past year, AUSM returned 2.89% vs 7.07% for NUMI. At a 0.11 correlation, their price movements are largely independent. AUSM charges 0.18%/yr vs 0.29%/yr for NUMI.
Performance
AUSM vs. NUMI - Performance Comparison
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Returns By Period
In the year-to-date period, AUSM achieves a 1.34% return, which is significantly lower than NUMI's 1.56% return.
AUSM
- 1D
- 0.00%
- 1M
- 0.22%
- 6M
- 1.16%
- YTD
- 1.34%
- 1Y
- 2.89%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NUMI
- 1D
- -0.12%
- 1M
- 0.25%
- 6M
- 1.00%
- YTD
- 1.56%
- 1Y
- 7.07%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AUSM vs. NUMI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
AUSM Allspring Ultra Short Municipal ETF | 1.34% | 1.58% |
NUMI Nuveen Municipal Income ETF | 1.56% | 4.99% |
Correlation
The correlation between AUSM and NUMI is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
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. NUMI — Risk / Return Rank
AUSM
NUMI
AUSM vs. NUMI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Allspring Ultra Short Municipal ETF (AUSM) and Nuveen Municipal Income ETF (NUMI). 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 | NUMI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.80 | ||
| Sortino ratioReturn per unit of downside risk | +3.67 | ||
| Omega ratioGain probability vs. loss probability | 2.26 | 1.47 | +0.79 |
| Calmar ratioReturn relative to maximum drawdown | 6.94 | 2.51 | +4.42 |
| Martin ratioReturn relative to average drawdown | 20.53 | 8.33 | +12.20 |
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Drawdowns
AUSM vs. NUMI - Drawdown Comparison
The maximum AUSM drawdown since its inception was -0.42%, smaller than the maximum NUMI drawdown of -4.72%. Use the drawdown chart below to compare losses from any high point for AUSM and NUMI.
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Drawdown Indicators
| AUSM | NUMI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.42% | -4.72% | +4.30% |
Max Drawdown (1Y)Largest decline over 1 year | -0.42% | -2.82% | +2.40% |
Current DrawdownCurrent decline from peak | -0.00% | -0.60% | +0.60% |
Average DrawdownAverage peak-to-trough decline | -0.08% | -1.33% | +1.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.14% | 0.85% | -0.71% |
Volatility
AUSM vs. NUMI - Volatility Comparison
The current volatility for Allspring Ultra Short Municipal ETF (AUSM) is 0.13%, while Nuveen Municipal Income ETF (NUMI) has a volatility of 0.53%. This indicates that AUSM experiences smaller price fluctuations and is considered to be less risky than NUMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AUSM | NUMI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.13% | 0.53% | -0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 0.45% | 2.20% | -1.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.73% | 3.29% | -2.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.73% | 4.25% | -3.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.73% | 4.25% | -3.52% |
AUSM vs. NUMI - Expense Ratio Comparison
AUSM has a 0.18% expense ratio, which is lower than NUMI's 0.29% expense ratio.
Dividends
AUSM vs. NUMI - Dividend Comparison
AUSM's dividend yield for the trailing twelve months is around 2.61%, less than NUMI's 3.64% yield.
| Position | TTM | 2025 |
|---|---|---|
AUSM Allspring Ultra Short Municipal ETF | 2.61% | 1.26% |
NUMI Nuveen Municipal Income ETF | 3.64% | 3.44% |
Frequently Asked Questions
AUSM and NUMI 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.
NUMI has higher volatility (0.53%) compared to AUSM (0.13%). In terms of maximum drawdown, AUSM dropped -0.42% vs NUMI's -4.72%.
On 1-year performance, NUMI leads with 7.07% vs 2.89% for AUSM. On fees, AUSM is cheaper at 0.18% per year. On volatility, AUSM has been the lower-risk option at 0.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, NUMI has performed better with a 7.07% return vs 2.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AUSM is cheaper with a 0.18% expense ratio, compared with 0.29% for NUMI.
NUMI has the higher dividend yield at 3.64%, compared with 2.61% for AUSM.
They also come from different issuers: Allspring and Nuveen. Their fees differ too: 0.18% for AUSM and 0.29% for NUMI.
AUSM currently has the higher Sharpe Ratio (3.96 vs 2.16), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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