CAM vs. AUSM

Last updated Jun 4, 2026

CAM (AB California Intermediate Municipal ETF) and AUSM (Allspring Ultra Short Municipal ETF) are both Municipal Bonds funds. Both are actively managed. At a 0.11 correlation, their price movements are largely independent. CAM charges 0.27%/yr vs 0.18%/yr for AUSM.

Performance

CAM vs. AUSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AB California Intermediate Municipal ETF (CAM) 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, CAM achieves a 1.29% return, which is significantly higher than AUSM's 0.98% return.

CAM

• 1D: 0.00%
• 1M: 0.60%
• YTD: 1.29%
• 6M: 1.75%
• 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)

CAM vs. AUSM - Yearly Performance Comparison

	2026 (YTD)	2025
CAM AB California Intermediate Municipal ETF	1.29%	1.17%
AUSM Allspring Ultra Short Municipal ETF	0.98%	0.72%

Correlation

The correlation between CAM and AUSM is 0.11, 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 Oct 7, 2025	0.11

Return for Risk

CAM vs. AUSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AB California Intermediate Municipal ETF (CAM) 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

	CAM	AUSM	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.80	3.98	-2.18

Drawdowns

CAM vs. AUSM - Drawdown Comparison

The maximum CAM drawdown since its inception was -2.19%, which is greater than AUSM's maximum drawdown of -0.42%. Use the drawdown chart below to compare losses from any high point for CAM and AUSM.

Drawdown Indicators

	CAM	AUSM	Difference
Max Drawdown Largest peak-to-trough decline	-2.19%	-0.42%	-1.77%
Current Drawdown Current decline from peak	-0.58%	-0.02%	-0.56%
Average Drawdown Average peak-to-trough decline	-0.51%	-0.09%	-0.42%

Volatility

Volatility by Period

	CAM	AUSM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	2.12%	0.73%	+1.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.12%	0.73%	+1.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.12%	0.73%	+1.39%

CAM vs. AUSM - Expense Ratio Comparison

CAM has a 0.27% expense ratio, which is higher than AUSM's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

CAM vs. AUSM - Dividend Comparison

CAM's dividend yield for the trailing twelve months is around 2.25%, less than AUSM's 2.39% yield.

Position	TTM	2025
AUSM Allspring Ultra Short Municipal ETF	2.39%	1.26%
CAM AB California Intermediate Municipal ETF	2.25%	0.87%

Frequently Asked Questions

Can I hold both CAM and AUSM in my portfolio?

CAM and AUSM 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.

Which ETF is better, CAM 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, CAM or AUSM?

AUSM is cheaper with a 0.18% expense ratio, compared with 0.27% for CAM.

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

AUSM has the higher dividend yield at 2.39%, compared with 2.25% for CAM.

What is the main difference between CAM and AUSM?

They also come from different issuers: AllianceBernstein and Allspring. Their fees differ too: 0.27% for CAM and 0.18% for AUSM.