BSMZ vs. AUSM

Last updated Jul 14, 2026

BSMZ (Invesco BulletShares 2035 Municipal Bond ETF) and AUSM (Allspring Ultra Short Municipal ETF) are both Municipal Bonds funds. BSMZ is passively managed, while AUSM is actively managed. At a 0.05 correlation, their price movements are largely independent. Both charge a 0.18% expense ratio.

Performance

BSMZ vs. AUSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco BulletShares 2035 Municipal Bond ETF (BSMZ) and Allspring Ultra Short Municipal ETF (AUSM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BSMZ achieves a 1.84% return, which is significantly higher than AUSM's 1.34% return.

BSMZ

• 1D: -0.08%
• 1M: 0.25%
• 6M: 1.18%
• YTD: 1.84%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AUSM

• 1D: 0.00%
• 1M: 0.22%
• 6M: 1.16%
• YTD: 1.34%
• 1Y: 2.89%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BSMZ vs. AUSM - Yearly Performance Comparison

	2026 (YTD)	2025
BSMZ Invesco BulletShares 2035 Municipal Bond ETF	1.84%	1.66%
AUSM Allspring Ultra Short Municipal ETF	1.34%	0.31%

Correlation

The correlation between BSMZ and AUSM 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 Sep 17, 2025	0.05

Return for Risk

BSMZ vs. AUSM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BSMZ

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

AUSM

AUSM Risk / Return Rank: 97
AUSM Sharpe Ratio Rank: 98
AUSM Sortino Ratio Rank: 98
AUSM Omega Ratio Rank: 98
AUSM Calmar Ratio Rank: 96
AUSM Martin Ratio Rank: 94

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BSMZ vs. AUSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2035 Municipal Bond ETF (BSMZ) 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.

	BSMZ	AUSM	Difference
Sharpe ratio: Return per unit of total volatility	—	3.96	—
Sortino ratio: Return per unit of downside risk	—	6.86	—
Omega ratio: Gain probability vs. loss probability	—	2.26	—
Calmar ratio: Return relative to maximum drawdown	—	6.94	—
Martin ratio: Return relative to average drawdown	—	20.53	—

Drawdowns

BSMZ vs. AUSM - Drawdown Comparison

The maximum BSMZ drawdown since its inception was -3.26%, which is greater than AUSM's maximum drawdown of -0.42%. Use the drawdown chart below to compare losses from any high point for BSMZ and AUSM.

Drawdown Indicators

	BSMZ	AUSM	Difference
Max Drawdown Largest peak-to-trough decline	-3.26%	-0.42%	-2.84%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.42%	—
Current Drawdown Current decline from peak	-0.84%	-0.00%	-0.84%
Average Drawdown Average peak-to-trough decline	-0.66%	-0.08%	-0.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.14%	—

Volatility

Volatility by Period

	BSMZ	AUSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.13%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.45%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.71%	0.73%	+2.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.71%	0.73%	+2.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.71%	0.73%	+2.98%

BSMZ vs. AUSM - Expense Ratio Comparison

Both BSMZ and AUSM have an expense ratio of 0.18%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

BSMZ vs. AUSM - Dividend Comparison

BSMZ's dividend yield for the trailing twelve months is around 2.36%, less than AUSM's 2.61% yield.

Position	TTM	2025
AUSM Allspring Ultra Short Municipal ETF	2.61%	1.26%
BSMZ Invesco BulletShares 2035 Municipal Bond ETF	2.36%	0.68%

Frequently Asked Questions

Can I hold both BSMZ and AUSM in my portfolio?

BSMZ and AUSM 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, BSMZ or AUSM?

Both ETFs have the same 0.18% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BSMZ or AUSM?

BSMZ and AUSM have the same expense ratio: 0.18% per year.

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

AUSM has the higher dividend yield at 2.61%, compared with 2.36% for BSMZ.

What is the main difference between BSMZ and AUSM?

They also come from different issuers: Invesco and Allspring.