CGMU vs. AUSM
CGMU (Capital Group Municipal Income ETF) and AUSM (Allspring Ultra Short Municipal ETF) are both Municipal Bonds funds. Both are actively managed. At a 0.17 correlation, their price movements are largely independent. CGMU charges 0.27%/yr vs 0.18%/yr for AUSM.
Performance
CGMU vs. AUSM - Performance Comparison
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Returns By Period
In the year-to-date period, CGMU achieves a 1.65% return, which is significantly higher than AUSM's 1.18% return.
CGMU
- 1D
- -0.07%
- 1M
- 1.15%
- YTD
- 1.65%
- 6M
- 1.75%
- 1Y
- 6.27%
- 3Y*
- 4.47%
- 5Y*
- —
- 10Y*
- —
AUSM
- 1D
- -0.02%
- 1M
- 0.23%
- YTD
- 1.18%
- 6M
- 1.32%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CGMU vs. AUSM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CGMU Capital Group Municipal Income ETF | 1.65% | 4.14% |
AUSM Allspring Ultra Short Municipal ETF | 1.18% | 1.58% |
Correlation
The correlation between CGMU and AUSM is 0.17, 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 Jul 8, 2025 | 0.17 |
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Return for Risk
CGMU vs. AUSM — Risk / Return Rank
CGMU
AUSM
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CGMU vs. AUSM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Capital Group Municipal Income ETF (CGMU) 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.
| CGMU | AUSM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.59 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.47 | — | — |
| Martin ratioReturn relative to average drawdown | 7.84 | — | — |
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Drawdowns
CGMU vs. AUSM - Drawdown Comparison
The maximum CGMU drawdown since its inception was -4.11%, which is greater than AUSM's maximum drawdown of -0.42%. Use the drawdown chart below to compare losses from any high point for CGMU and AUSM.
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Drawdown Indicators
| CGMU | AUSM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.11% | -0.42% | -3.69% |
Max Drawdown (1Y)Largest decline over 1 year | -2.55% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -3.89% | — | — |
Current DrawdownCurrent decline from peak | -0.64% | -0.03% | -0.61% |
Average DrawdownAverage peak-to-trough decline | -0.84% | -0.09% | -0.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.80% | — | — |
Volatility
CGMU vs. AUSM - Volatility Comparison
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Volatility by Period
| CGMU | AUSM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.62% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.73% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.28% | 0.75% | +1.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.46% | 0.75% | +2.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.46% | 0.75% | +2.71% |
CGMU vs. AUSM - Expense Ratio Comparison
CGMU 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
CGMU vs. AUSM - Dividend Comparison
CGMU's dividend yield for the trailing twelve months is around 3.32%, more than AUSM's 2.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
AUSM Allspring Ultra Short Municipal ETF | 2.39% | 1.26% | 0.00% | 0.00% | 0.00% |
CGMU Capital Group Municipal Income ETF | 3.32% | 3.32% | 3.21% | 3.08% | 0.49% |
Frequently Asked Questions
CGMU and AUSM have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
AUSM is cheaper with a 0.18% expense ratio, compared with 0.27% for CGMU.
CGMU has the higher dividend yield at 3.32%, compared with 2.39% for AUSM.
They also come from different issuers: Capital Group and Allspring. Their fees differ too: 0.27% for CGMU and 0.18% for AUSM.
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