BKMS vs. AUSM

Last updated Jun 4, 2026

BKMS (BNY Mellon Municipal Short Duration ETF) and AUSM (Allspring Ultra Short Municipal ETF) are both Municipal Bonds funds. Both are actively managed. At a 0.39 correlation, their price movements are largely independent. BKMS charges 0.35%/yr vs 0.18%/yr for AUSM.

Performance

BKMS vs. AUSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon Municipal Short Duration ETF (BKMS) and Allspring Ultra Short Municipal ETF (AUSM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BKMS

• 1D: 0.04%
• 1M: 0.26%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AUSM

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

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

BKMS vs. AUSM - Yearly Performance Comparison

	2026 (YTD)
BKMS BNY Mellon Municipal Short Duration ETF	0.58%
AUSM Allspring Ultra Short Municipal ETF	0.80%

Correlation

The correlation between BKMS and AUSM is 0.39, 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 Jan 13, 2026	0.39

Return for Risk

BKMS vs. AUSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Municipal Short Duration ETF (BKMS) and Allspring Ultra Short Municipal ETF (AUSM). 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

	BKMS	AUSM	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.20	3.98	-2.78

Drawdowns

BKMS vs. AUSM - Drawdown Comparison

The maximum BKMS drawdown since its inception was -0.87%, which is greater than AUSM's maximum drawdown of -0.42%. Use the drawdown chart below to compare losses from any high point for BKMS and AUSM.

Drawdown Indicators

	BKMS	AUSM	Difference
Max Drawdown Largest peak-to-trough decline	-0.87%	-0.42%	-0.45%
Current Drawdown Current decline from peak	-0.13%	-0.02%	-0.11%
Average Drawdown Average peak-to-trough decline	-0.29%	-0.09%	-0.20%

Volatility

Volatility by Period

	BKMS	AUSM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	1.25%	0.73%	+0.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.25%	0.73%	+0.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.25%	0.73%	+0.52%

BKMS vs. AUSM - Expense Ratio Comparison

BKMS has a 0.35% expense ratio, which is higher than AUSM's 0.18% expense ratio.

Dividends

BKMS vs. AUSM - Dividend Comparison

BKMS's dividend yield for the trailing twelve months is around 1.11%, less than AUSM's 2.39% yield.

Position	TTM	2025
AUSM Allspring Ultra Short Municipal ETF	2.39%	1.26%
BKMS BNY Mellon Municipal Short Duration ETF	1.11%	0.00%

Frequently Asked Questions

Can I hold both BKMS and AUSM in my portfolio?

BKMS and AUSM have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BKMS or AUSM?

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, BKMS or AUSM?

AUSM is cheaper with a 0.18% expense ratio, compared with 0.35% for BKMS.

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

AUSM has the higher dividend yield at 2.39%, compared with 1.11% for BKMS.

What is the main difference between BKMS and AUSM?

They also come from different issuers: BNY Mellon and Allspring. Their fees differ too: 0.35% for BKMS and 0.18% for AUSM.