MUNA vs. AUSM

Last updated Jun 7, 2026

MUNA (Northern Trust 2030 Tax-Exempt Distributing Ladder ETF) and AUSM (Allspring Ultra Short Municipal ETF) are both Municipal Bonds funds. Both are actively managed. At a 0.03 correlation, their price movements are largely independent. Both charge a 0.18% expense ratio.

Performance

MUNA vs. AUSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Northern Trust 2030 Tax-Exempt Distributing Ladder ETF (MUNA) 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, MUNA achieves a 1.59% return, which is significantly higher than AUSM's 1.02% return.

MUNA

• 1D: -0.06%
• 1M: 0.60%
• YTD: 1.59%
• 6M: 1.85%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AUSM

• 1D: 0.00%
• 1M: 0.23%
• YTD: 1.02%
• 6M: 1.36%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MUNA vs. AUSM - Yearly Performance Comparison

	2026 (YTD)	2025
MUNA Northern Trust 2030 Tax-Exempt Distributing Ladder ETF	1.59%	0.63%
AUSM Allspring Ultra Short Municipal ETF	1.02%	1.13%

Correlation

The correlation between MUNA and AUSM is 0.03, 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 Aug 20, 2025	0.03

Return for Risk

MUNA vs. AUSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northern Trust 2030 Tax-Exempt Distributing Ladder ETF (MUNA) 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

	MUNA	AUSM	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.63	4.02	-2.39

Drawdowns

MUNA vs. AUSM - Drawdown Comparison

The maximum MUNA drawdown since its inception was -0.91%, which is greater than AUSM's maximum drawdown of -0.42%. Use the drawdown chart below to compare losses from any high point for MUNA and AUSM.

Drawdown Indicators

	MUNA	AUSM	Difference
Max Drawdown Largest peak-to-trough decline	-0.91%	-0.42%	-0.49%
Current Drawdown Current decline from peak	-0.06%	0.00%	-0.06%
Average Drawdown Average peak-to-trough decline	-0.28%	-0.09%	-0.19%

Volatility

Volatility by Period

	MUNA	AUSM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	1.73%	0.73%	+1.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.73%	0.73%	+1.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.73%	0.73%	+1.00%

MUNA vs. AUSM - Expense Ratio Comparison

Both MUNA 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

MUNA vs. AUSM - Dividend Comparison

MUNA's dividend yield for the trailing twelve months is around 1.66%, less than AUSM's 2.39% yield.

Position	TTM	2025
AUSM Allspring Ultra Short Municipal ETF	2.39%	1.26%
MUNA Northern Trust 2030 Tax-Exempt Distributing Ladder ETF	1.66%	0.76%

Frequently Asked Questions

Can I hold both MUNA and AUSM in my portfolio?

MUNA and AUSM have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MUNA 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, MUNA or AUSM?

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

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

AUSM has the higher dividend yield at 2.39%, compared with 1.66% for MUNA.

What is the main difference between MUNA and AUSM?

They also come from different issuers: Northern Trust and Allspring.