IBMM vs. AUSM

Last updated Jun 5, 2026

IBMM (iShares iBonds Dec 2024 Term Muni Bond ETF) and AUSM (Allspring Ultra Short Municipal ETF) are both Municipal Bonds funds. IBMM is passively managed, while AUSM is actively managed. Both charge a 0.18% expense ratio.

Performance

IBMM vs. AUSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM) and Allspring Ultra Short Municipal ETF (AUSM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IBMM

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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)

IBMM vs. AUSM - Yearly Performance Comparison

	2026 (YTD)
IBMM iShares iBonds Dec 2024 Term Muni Bond ETF	0.00%
AUSM Allspring Ultra Short Municipal ETF	0.54%

Return for Risk

IBMM vs. AUSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM) 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

	IBMM	AUSM	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	—	4.03	—

Drawdowns

IBMM vs. AUSM - Drawdown Comparison

The maximum IBMM drawdown since its inception was 0.00%, smaller than the maximum AUSM drawdown of -0.42%. Use the drawdown chart below to compare losses from any high point for IBMM and AUSM.

Drawdown Indicators

	IBMM	AUSM	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-0.42%	+0.42%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	0.00%	-0.09%	+0.09%

Volatility

Volatility by Period

	IBMM	AUSM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	0.73%	-0.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	0.73%	-0.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	0.73%	-0.73%

IBMM vs. AUSM - Expense Ratio Comparison

Both IBMM 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

IBMM vs. AUSM - Dividend Comparison

IBMM has not paid dividends to shareholders, while AUSM's dividend yield for the trailing twelve months is around 2.39%.

Position	TTM	2025
AUSM Allspring Ultra Short Municipal ETF	2.39%	1.26%
IBMM iShares iBonds Dec 2024 Term Muni Bond ETF	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, IBMM 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, IBMM or AUSM?

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

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

AUSM has the higher dividend yield at 2.39%, compared with 0.00% for IBMM.

What is the main difference between IBMM and AUSM?

They also come from different issuers: iShares and Allspring.