NYF vs. AUSM

Last updated Jul 16, 2026

NYF (iShares New York Muni Bond ETF) and AUSM (Allspring Ultra Short Municipal ETF) are both Municipal Bonds funds. NYF is passively managed, while AUSM is actively managed. Over the past year, NYF returned 6.49% vs 2.89% for AUSM. At a 0.09 correlation, their price movements are largely independent. NYF charges 0.25%/yr vs 0.18%/yr for AUSM.

Performance

NYF vs. AUSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares New York Muni Bond ETF (NYF) 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, NYF achieves a 1.65% return, which is significantly higher than AUSM's 1.34% return.

NYF

• 1D: -0.09%
• 1M: 0.05%
• 6M: 0.95%
• YTD: 1.65%
• 1Y: 6.49%
• 3Y*: 3.08%
• 5Y*: 0.73%
• 10Y*: 1.73%

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)

NYF vs. AUSM - Yearly Performance Comparison

	2026 (YTD)	2025
NYF iShares New York Muni Bond ETF	1.65%	4.48%
AUSM Allspring Ultra Short Municipal ETF	1.34%	1.58%

Correlation

The correlation between NYF 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 (1Y) Calculated over the trailing 1-year period	0.09
Correlation (All Time) Calculated using the full available price history since Jul 8, 2025	0.09

Return for Risk

NYF vs. AUSM — Risk / Return Rank

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

NYF

NYF Risk / Return Rank: 79
NYF Sharpe Ratio Rank: 90
NYF Sortino Ratio Rank: 91
NYF Omega Ratio Rank: 93
NYF Calmar Ratio Rank: 59
NYF Martin Ratio Rank: 60

AUSM

AUSM Risk / Return Rank: 97
AUSM Sharpe Ratio Rank: 97
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.

NYF vs. AUSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares New York Muni Bond ETF (NYF) 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.

	NYF	AUSM	Difference
Sharpe ratio: Return per unit of total volatility	2.39	3.96	-1.56
Sortino ratio: Return per unit of downside risk	3.43	6.86	-3.43
Omega ratio: Gain probability vs. loss probability	1.52	2.26	-0.74
Calmar ratio: Return relative to maximum drawdown	2.36	6.94	-4.58
Martin ratio: Return relative to average drawdown	8.50	20.54	-12.04

NYF vs. AUSM - Sharpe Ratio Comparison

The current NYF Sharpe Ratio is 2.39, which is lower than the AUSM Sharpe Ratio of 3.96. The chart below compares the historical Sharpe Ratios of NYF 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

NYF vs. AUSM - Drawdown Comparison

The maximum NYF drawdown since its inception was -13.12%, which is greater than AUSM's maximum drawdown of -0.42%. Use the drawdown chart below to compare losses from any high point for NYF and AUSM.

Drawdown Indicators

	NYF	AUSM	Difference
Max Drawdown Largest peak-to-trough decline	-13.12%	-0.42%	-12.70%
Max Drawdown (1Y) Largest decline over 1 year	-2.76%	-0.42%	-2.34%
Max Drawdown (3Y) Largest decline over 3 years	-5.68%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-12.71%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-13.12%	—	—
Current Drawdown Current decline from peak	-0.58%	-0.00%	-0.58%
Average Drawdown Average peak-to-trough decline	-2.30%	-0.08%	-2.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.77%	0.14%	+0.63%

Volatility

NYF vs. AUSM - Volatility Comparison

iShares New York Muni Bond ETF (NYF) has a higher volatility of 0.57% compared to Allspring Ultra Short Municipal ETF (AUSM) at 0.12%. This indicates that NYF'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

	NYF	AUSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.57%	0.12%	+0.45%
Volatility (6M) Calculated over the trailing 6-month period	2.13%	0.45%	+1.68%
Volatility (1Y) Calculated over the trailing 1-year period	2.74%	0.73%	+2.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.00%	0.73%	+3.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.48%	0.73%	+3.75%

NYF vs. AUSM - Expense Ratio Comparison

NYF has a 0.25% expense ratio, which is higher than AUSM's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

NYF vs. AUSM - Dividend Comparison

NYF's dividend yield for the trailing twelve months is around 3.11%, more than AUSM's 2.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AUSM Allspring Ultra Short Municipal ETF	2.61%	1.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NYF iShares New York Muni Bond ETF	3.11%	2.99%	2.77%	2.36%	2.04%	1.85%	1.98%	2.19%	2.48%	2.46%	2.43%	2.60%

Frequently Asked Questions

Can I hold both NYF and AUSM in my portfolio?

NYF 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 is riskier, NYF or AUSM?

NYF has higher volatility (0.57%) compared to AUSM (0.12%). In terms of maximum drawdown, NYF dropped -13.12% vs AUSM's -0.42%.

Which ETF is better, NYF or AUSM?

On 1-year performance, NYF leads with 6.49% vs 2.89% for AUSM. On fees, AUSM is cheaper at 0.18% per year. On volatility, AUSM has been the lower-risk option at 0.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NYF or AUSM?

Over the 1-year period, NYF has performed better with a 6.49% return vs 2.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NYF or AUSM?

AUSM is cheaper with a 0.18% expense ratio, compared with 0.25% for NYF.

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

NYF has the higher dividend yield at 3.11%, compared with 2.61% for AUSM.

What is the main difference between NYF and AUSM?

They also come from different issuers: iShares and Allspring. Their fees differ too: 0.25% for NYF and 0.18% for AUSM.

Which has better risk-adjusted returns?

AUSM currently has the higher Sharpe Ratio (3.96 vs 2.39), 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.