HYMB vs. AUSM

Last updated Jun 5, 2026

HYMB (SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF) and AUSM (Allspring Ultra Short Municipal ETF) are both Municipal Bonds funds. HYMB is passively managed, while AUSM is actively managed. At a 0.14 correlation, their price movements are largely independent. HYMB charges 0.35%/yr vs 0.18%/yr for AUSM.

Performance

HYMB vs. AUSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB) 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, HYMB achieves a 3.07% return, which is significantly higher than AUSM's 1.02% return.

HYMB

• 1D: 0.20%
• 1M: 1.19%
• YTD: 3.07%
• 6M: 3.18%
• 1Y: 7.38%
• 3Y*: 5.23%
• 5Y*: 0.46%
• 10Y*: 2.47%

AUSM

• 1D: 0.04%
• 1M: 0.25%
• YTD: 1.02%
• 6M: 1.36%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HYMB vs. AUSM - Yearly Performance Comparison

	2026 (YTD)	2025
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF	3.07%	3.90%
AUSM Allspring Ultra Short Municipal ETF	1.02%	1.63%

Correlation

The correlation between HYMB and AUSM is 0.14, 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 9, 2025	0.14

Return for Risk

HYMB vs. AUSM — Risk / Return Rank

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

HYMB

HYMB Risk / Return Rank: 55
HYMB Sharpe Ratio Rank: 55
HYMB Sortino Ratio Rank: 56
HYMB Omega Ratio Rank: 62
HYMB Calmar Ratio Rank: 49
HYMB Martin Ratio Rank: 51

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.

HYMB vs. AUSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB) 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.

	HYMB	AUSM	Difference
Sharpe ratio: Return per unit of total volatility	1.83	—	—
Sortino ratio: Return per unit of downside risk	2.62	—	—
Omega ratio: Gain probability vs. loss probability	1.37	—	—
Calmar ratio: Return relative to maximum drawdown	2.39	—	—
Martin ratio: Return relative to average drawdown	8.46	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	HYMB	AUSM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.83	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.07	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.22	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	4.03	-3.58

Drawdowns

HYMB vs. AUSM - Drawdown Comparison

The maximum HYMB drawdown since its inception was -29.57%, which is greater than AUSM's maximum drawdown of -0.42%. Use the drawdown chart below to compare losses from any high point for HYMB and AUSM.

Drawdown Indicators

	HYMB	AUSM	Difference
Max Drawdown Largest peak-to-trough decline	-29.57%	-0.42%	-29.15%
Max Drawdown (1Y) Largest decline over 1 year	-3.11%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-7.44%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.15%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-29.57%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.80%	-0.09%	-3.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	—	—

Volatility

Volatility by Period

	HYMB	AUSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.35%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.14%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.06%	0.73%	+3.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.66%	0.73%	+5.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.35%	0.73%	+10.62%

HYMB vs. AUSM - Expense Ratio Comparison

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

Dividends

HYMB vs. AUSM - Dividend Comparison

HYMB's dividend yield for the trailing twelve months is around 4.54%, more than AUSM's 2.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AUSM Allspring Ultra Short Municipal ETF	2.39%	1.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF	4.54%	4.55%	4.29%	4.07%	3.77%	3.19%	3.55%	3.95%	4.03%	3.78%	4.08%	4.54%

Frequently Asked Questions

Can I hold both HYMB and AUSM in my portfolio?

HYMB and AUSM have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HYMB 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, HYMB or AUSM?

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

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

HYMB has the higher dividend yield at 4.54%, compared with 2.39% for AUSM.

What is the main difference between HYMB and AUSM?

They also come from different issuers: State Street and Allspring. Their fees differ too: 0.35% for HYMB and 0.18% for AUSM.