AUSM vs. THYM

Last updated Jun 25, 2026

AUSM (Allspring Ultra Short Municipal ETF) and THYM (T. Rowe Price High Income Municipal ETF) are both exchange-traded funds - AUSM is a Municipal Bonds fund actively managed by Allspring, while THYM is a High Yield Muni fund actively managed by T. Rowe Price. Both are actively managed. At a correlation of -0.05, they often move in opposite directions. AUSM charges 0.18%/yr vs 0.32%/yr for THYM.

Performance

AUSM vs. THYM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allspring Ultra Short Municipal ETF (AUSM) and T. Rowe Price High Income Municipal ETF (THYM). 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 THYM's 4.16% return.

AUSM

• 1D: -0.20%
• 1M: 0.03%
• YTD: 0.98%
• 6M: 1.16%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

THYM

• 1D: 0.53%
• 1M: 2.22%
• YTD: 4.16%
• 6M: 4.33%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AUSM vs. THYM - Yearly Performance Comparison

	2026 (YTD)	2025
AUSM Allspring Ultra Short Municipal ETF	0.98%	0.47%
THYM T. Rowe Price High Income Municipal ETF	4.16%	0.25%

Correlation

The correlation between AUSM and THYM 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 Nov 20, 2025	-0.05

Return for Risk

AUSM vs. THYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allspring Ultra Short Municipal ETF (AUSM) and T. Rowe Price High Income Municipal ETF (THYM). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

AUSM vs. THYM - Drawdown Comparison

The maximum AUSM drawdown since its inception was -0.42%, smaller than the maximum THYM drawdown of -2.93%. Use the drawdown chart below to compare losses from any high point for AUSM and THYM.

Drawdown Indicators

	AUSM	THYM	Difference
Max Drawdown Largest peak-to-trough decline	-0.42%	-2.93%	+2.51%
Current Drawdown Current decline from peak	-0.23%	0.00%	-0.23%
Average Drawdown Average peak-to-trough decline	-0.09%	-0.46%	+0.37%

Volatility

Volatility by Period

	AUSM	THYM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	0.78%	4.35%	-3.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.78%	4.35%	-3.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.78%	4.35%	-3.57%

AUSM vs. THYM - Expense Ratio Comparison

AUSM has a 0.18% expense ratio, which is lower than THYM's 0.32% expense ratio.

Dividends

AUSM vs. THYM - Dividend Comparison

AUSM's dividend yield for the trailing twelve months is around 2.39%, more than THYM's 2.17% yield.

Position	TTM	2025
AUSM Allspring Ultra Short Municipal ETF	2.39%	1.26%
THYM T. Rowe Price High Income Municipal ETF	2.17%	0.37%

Frequently Asked Questions

Can I hold both AUSM and THYM in my portfolio?

AUSM and THYM 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 THYM?

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 THYM?

AUSM is cheaper with a 0.18% expense ratio, compared with 0.32% for THYM.

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

AUSM has the higher dividend yield at 2.39%, compared with 2.17% for THYM.

What is the main difference between AUSM and THYM?

AUSM is categorized as Municipal Bonds, while THYM is High Yield Muni. They also come from different issuers: Allspring and T. Rowe Price. Their fees differ too: 0.18% for AUSM and 0.32% for THYM.