JMSI vs. AUSM

Last updated Jul 14, 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. Over the past year, JMSI returned 5.54% vs 2.89% for AUSM. At a 0.10 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 1.02% return, which is significantly lower than AUSM's 1.34% return.

JMSI

• 1D: -0.11%
• 1M: -0.02%
• 6M: 0.63%
• YTD: 1.02%
• 1Y: 5.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AUSM

• 1D: 0.00%
• 1M: 0.22%
• 6M: 1.16%
• YTD: 1.34%
• 1Y: 2.89%
• 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	1.02%	4.14%
AUSM Allspring Ultra Short Municipal ETF	1.34%	1.58%

Correlation

The correlation between JMSI and AUSM is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (All Time) Calculated using the full available price history since Jul 8, 2025	0.10

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: 67
JMSI Sharpe Ratio Rank: 76
JMSI Sortino Ratio Rank: 80
JMSI Omega Ratio Rank: 83
JMSI Calmar Ratio Rank: 46
JMSI Martin Ratio Rank: 48

AUSM

AUSM Risk / Return Rank: 97
AUSM Sharpe Ratio Rank: 98
AUSM Sortino Ratio Rank: 98
AUSM Omega Ratio Rank: 98
AUSM Calmar Ratio Rank: 96
AUSM Martin Ratio Rank: 94

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	1.92	3.96	-2.03
Sortino ratio: Return per unit of downside risk	2.83	6.86	-4.03
Omega ratio: Gain probability vs. loss probability	1.39	2.26	-0.87
Calmar ratio: Return relative to maximum drawdown	1.86	6.94	-5.07
Martin ratio: Return relative to average drawdown	6.33	20.53	-14.20

JMSI vs. AUSM - Sharpe Ratio Comparison

The current JMSI Sharpe Ratio is 1.92, which is lower than the AUSM Sharpe Ratio of 3.96. The chart below compares the historical Sharpe Ratios of JMSI and AUSM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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%	-0.42%	-2.56%
Current Drawdown Current decline from peak	-0.91%	-0.00%	-0.91%
Average Drawdown Average peak-to-trough decline	-0.91%	-0.08%	-0.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	0.14%	+0.74%

Volatility

JMSI vs. AUSM - Volatility Comparison

J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund (JMSI) has a higher volatility of 0.64% compared to Allspring Ultra Short Municipal ETF (AUSM) at 0.13%. This indicates that JMSI's price experiences larger fluctuations and is considered to be riskier than AUSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JMSI	AUSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.64%	0.13%	+0.51%
Volatility (6M) Calculated over the trailing 6-month period	2.24%	0.45%	+1.79%
Volatility (1Y) Calculated over the trailing 1-year period	2.90%	0.73%	+2.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.69%	0.73%	+2.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.69%	0.73%	+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 3.67%, more than AUSM's 2.61% yield.

Position	TTM	2025	2024	2023
AUSM Allspring Ultra Short Municipal ETF	2.61%	1.26%	0.00%	0.00%
JMSI J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund	3.67%	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 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JMSI or AUSM?

JMSI has higher volatility (0.64%) compared to AUSM (0.13%). In terms of maximum drawdown, JMSI dropped -4.57% vs AUSM's -0.42%.

Which ETF is better, JMSI or AUSM?

On 1-year performance, JMSI leads with 5.54% vs 2.89% for AUSM. Both ETFs have the same 0.18% expense ratio. On volatility, AUSM has been the lower-risk option at 0.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JMSI or AUSM?

Over the 1-year period, JMSI has performed better with a 5.54% return vs 2.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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 3.67%, compared with 2.61% for AUSM.

What is the main difference between JMSI and AUSM?

They also come from different issuers: JPMorgan and Allspring.

Which has better risk-adjusted returns?

AUSM currently has the higher Sharpe Ratio (3.96 vs 1.92), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.