IBMR vs. AUSM

Last updated Jun 4, 2026

IBMR (iShares iBonds Dec 2029 Term Muni Bond ETF) and AUSM (Allspring Ultra Short Municipal ETF) are both Municipal Bonds funds. IBMR is passively managed, while AUSM is actively managed. At a 0.10 correlation, their price movements are largely independent. Both charge a 0.18% expense ratio.

Performance

IBMR vs. AUSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2029 Term Muni Bond ETF (IBMR) 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, IBMR achieves a 0.65% return, which is significantly lower than AUSM's 0.98% return.

IBMR

• 1D: -0.06%
• 1M: 0.21%
• YTD: 0.65%
• 6M: 0.99%
• 1Y: 3.93%
• 3Y*: 3.46%
• 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)

IBMR vs. AUSM - Yearly Performance Comparison

	2026 (YTD)	2025
IBMR iShares iBonds Dec 2029 Term Muni Bond ETF	0.65%	2.13%
AUSM Allspring Ultra Short Municipal ETF	0.98%	1.63%

Correlation

The correlation between IBMR and AUSM is 0.10, 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 Jul 9, 2025	0.10

Return for Risk

IBMR vs. AUSM — Risk / Return Rank

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

IBMR

IBMR Risk / Return Rank: 64
IBMR Sharpe Ratio Rank: 70
IBMR Sortino Ratio Rank: 74
IBMR Omega Ratio Rank: 82
IBMR Calmar Ratio Rank: 52
IBMR Martin Ratio Rank: 42

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.

IBMR vs. AUSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2029 Term Muni Bond ETF (IBMR) 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.

	IBMR	AUSM	Difference
Sharpe ratio Return per unit of total volatility	2.25	—	—
Sortino ratio Return per unit of downside risk	3.31	—	—
Omega ratio Gain probability vs. loss probability	1.49	—	—
Calmar ratio Return relative to maximum drawdown	2.54	—	—
Martin ratio Return relative to average drawdown	6.74	—	—
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

	IBMR	AUSM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.25	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	3.98	-3.06

Drawdowns

IBMR vs. AUSM - Drawdown Comparison

The maximum IBMR drawdown since its inception was -4.83%, which is greater than AUSM's maximum drawdown of -0.42%. Use the drawdown chart below to compare losses from any high point for IBMR and AUSM.

Drawdown Indicators

	IBMR	AUSM	Difference
Max Drawdown Largest peak-to-trough decline	-4.83%	-0.42%	-4.41%
Max Drawdown (1Y) Largest decline over 1 year	-1.55%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-4.72%	—	—
Current Drawdown Current decline from peak	-0.74%	-0.02%	-0.72%
Average Drawdown Average peak-to-trough decline	-1.02%	-0.09%	-0.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.58%	—	—

Volatility

Volatility by Period

	IBMR	AUSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.45%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.14%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.75%	0.73%	+1.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.07%	0.73%	+2.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.07%	0.73%	+2.34%

IBMR vs. AUSM - Expense Ratio Comparison

Both IBMR 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

IBMR vs. AUSM - Dividend Comparison

IBMR's dividend yield for the trailing twelve months is around 2.55%, more than AUSM's 2.39% yield.

Position	TTM	2025	2024	2023
AUSM Allspring Ultra Short Municipal ETF	2.39%	1.26%	0.00%	0.00%
IBMR iShares iBonds Dec 2029 Term Muni Bond ETF	2.55%	2.55%	2.53%	1.27%

Frequently Asked Questions

Can I hold both IBMR and AUSM in my portfolio?

IBMR and AUSM have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IBMR 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, IBMR or AUSM?

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

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

IBMR has the higher dividend yield at 2.55%, compared with 2.39% for AUSM.

What is the main difference between IBMR and AUSM?

They also come from different issuers: iShares and Allspring.