BMOP vs. AUSM

Last updated Aug 5, 2026

BMOP (BNY Mellon Municipal Opportunities ETF) and AUSM (Allspring Ultra Short Municipal ETF) are both Municipal Bonds funds. Both are actively managed. Their 0.27 correlation means their historical movements had little consistent relationship. BMOP charges 0.54%/yr vs 0.18%/yr for AUSM.

Performance

BMOP vs. AUSM - Performance Comparison

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

Returns By Period

BMOP

• 1D: 0.20%
• 1M: -1.61%
• 6M: 0.59%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

AUSM

• 1D: 0.04%
• 1M: 0.07%
• 6M: 0.98%
• YTD: 1.37%
• 1Y: 2.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 2.77%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AUSM Allspring Ultra Short Municipal ETF	$83.87K	$55.18K	$105.67K
BMOP BNY Mellon Municipal Opportunities ETF	$2.29M	$2.06M	$2.59M

BMOP vs. AUSM - Yearly Performance Comparison

	2026 (YTD)
BMOP BNY Mellon Municipal Opportunities ETF	1.01%
AUSM Allspring Ultra Short Municipal ETF	1.23%

Correlation

The correlation between BMOP and AUSM is 0.27, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 12, 2026	0.27

Return for Risk

BMOP vs. AUSM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BMOP

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

AUSM

AUSM Risk / Return Rank: 96
AUSM Sharpe Ratio Rank: 97
AUSM Sortino Ratio Rank: 98
AUSM Omega Ratio Rank: 98
AUSM Calmar Ratio Rank: 96
AUSM Martin Ratio Rank: 93

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BMOP vs. AUSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Municipal Opportunities ETF (BMOP) 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.

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.

	BMOP	AUSM	Difference
Sharpe ratio: Return per unit of total volatility	—	3.55	—
Sortino ratio: Return per unit of downside risk	—	5.96	—
Omega ratio: Gain probability vs. loss probability	—	2.06	—
Calmar ratio: Return relative to maximum drawdown	—	6.43	—
Martin ratio: Return relative to average drawdown	—	18.33	—

Drawdowns

BMOP vs. AUSM - Drawdown Comparison

The maximum BMOP drawdown since its inception was -2.80%, which is greater than AUSM's maximum drawdown of -0.42%. Use the drawdown chart below to compare losses from any high point for BMOP and AUSM.

Drawdown Indicators

	BMOP	AUSM	Difference
Max Drawdown Largest peak-to-trough decline	-2.80%	-0.42%	-2.38%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.42%	—
Current Drawdown Current decline from peak	-1.61%	-0.09%	-1.52%
Average Drawdown Average peak-to-trough decline	-0.74%	-0.09%	-0.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.15%	—

Volatility

Volatility by Period

	BMOP	AUSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.23%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.50%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.46%	0.76%	+2.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.46%	0.74%	+2.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.46%	0.74%	+2.72%

BMOP vs. AUSM - Expense Ratio Comparison

BMOP has a 0.54% expense ratio, which is higher than AUSM's 0.18% expense ratio.

Dividends

BMOP vs. AUSM - Dividend Comparison

BMOP's dividend yield for the trailing twelve months is around 1.87%, less than AUSM's 2.77% yield.

Position	TTM	2025
AUSM Allspring Ultra Short Municipal ETF	2.77%	1.26%
BMOP BNY Mellon Municipal Opportunities ETF	1.87%	0.00%

Frequently Asked Questions

Can I hold both BMOP and AUSM in my portfolio?

BMOP and AUSM have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BMOP 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, BMOP or AUSM?

AUSM is cheaper with a 0.18% expense ratio, compared with 0.54% for BMOP.

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

AUSM has the higher dividend yield at 2.77%, compared with 1.87% for BMOP.

What is the main difference between BMOP and AUSM?

They also come from different issuers: BNY Mellon and Allspring. Their fees differ too: 0.54% for BMOP and 0.18% for AUSM.