JMSI vs. AUSM

Last updated Jun 24, 2026

JMSI (J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund) and AUSM (Allspring Ultra Short Municipal ETF) are both Municipal Bonds funds. Both are actively managed. At a 0.09 correlation, their price movements are largely independent. Both charge a 0.18% expense ratio.

Performance

JMSI vs. AUSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund (JMSI) 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, JMSI achieves a 1.41% return, which is significantly higher than AUSM's 1.18% return.

JMSI

• 1D: 0.08%
• 1M: 1.45%
• YTD: 1.41%
• 6M: 1.59%
• 1Y: 5.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AUSM

• 1D: -0.02%
• 1M: 0.23%
• YTD: 1.18%
• 6M: 1.32%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JMSI vs. AUSM - Yearly Performance Comparison

	2026 (YTD)	2025
JMSI J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund	1.41%	4.14%
AUSM Allspring Ultra Short Municipal ETF	1.18%	1.58%

Correlation

The correlation between JMSI and AUSM is 0.09, 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 8, 2025	0.09

Return for Risk

JMSI vs. AUSM — Risk / Return Rank

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

JMSI

JMSI Risk / Return Rank: 63
JMSI Sharpe Ratio Rank: 71
JMSI Sortino Ratio Rank: 75
JMSI Omega Ratio Rank: 79
JMSI Calmar Ratio Rank: 44
JMSI Martin Ratio Rank: 45

AUSM

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

JMSI vs. AUSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund (JMSI) 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.

	JMSI	AUSM	Difference
Sharpe ratio: Return per unit of total volatility	2.07	—	—
Sortino ratio: Return per unit of downside risk	3.04	—	—
Omega ratio: Gain probability vs. loss probability	1.43	—	—
Calmar ratio: Return relative to maximum drawdown	2.00	—	—
Martin ratio: Return relative to average drawdown	6.79	—	—

Drawdowns

JMSI vs. AUSM - Drawdown Comparison

The maximum JMSI drawdown since its inception was -4.57%, which is greater than AUSM's maximum drawdown of -0.42%. Use the drawdown chart below to compare losses from any high point for JMSI and AUSM.

Drawdown Indicators

	JMSI	AUSM	Difference
Max Drawdown Largest peak-to-trough decline	-4.57%	-0.42%	-4.15%
Max Drawdown (1Y) Largest decline over 1 year	-2.98%	—	—
Current Drawdown Current decline from peak	-0.52%	-0.03%	-0.49%
Average Drawdown Average peak-to-trough decline	-0.91%	-0.09%	-0.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	—	—

Volatility

Volatility by Period

	JMSI	AUSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.81%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.25%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.89%	0.75%	+2.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.71%	0.75%	+2.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.71%	0.75%	+2.96%

JMSI vs. AUSM - Expense Ratio Comparison

Both JMSI 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

JMSI vs. AUSM - Dividend Comparison

JMSI's dividend yield for the trailing twelve months is around 3.64%, 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%
JMSI J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund	3.64%	3.65%	3.66%	1.79%

Frequently Asked Questions

Can I hold both JMSI and AUSM in my portfolio?

JMSI and AUSM have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JMSI 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, JMSI or AUSM?

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

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

JMSI has the higher dividend yield at 3.64%, compared with 2.39% for AUSM.

What is the main difference between JMSI and AUSM?

They also come from different issuers: JPMorgan and Allspring.