SHYD vs. AUSM
SHYD (VanEck Short High Yield Muni ETF) and AUSM (Allspring Ultra Short Municipal ETF) are both Municipal Bonds funds. SHYD is passively managed, while AUSM is actively managed. At a 0.09 correlation, their price movements are largely independent. SHYD charges 0.35%/yr vs 0.18%/yr for AUSM.
Performance
SHYD vs. AUSM - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with SHYD having a 0.97% return and AUSM slightly higher at 0.98%.
SHYD
- 1D
- 0.22%
- 1M
- 0.70%
- YTD
- 0.97%
- 6M
- 1.71%
- 1Y
- 5.18%
- 3Y*
- 4.46%
- 5Y*
- 0.97%
- 10Y*
- 2.07%
AUSM
- 1D
- -0.02%
- 1M
- 0.21%
- YTD
- 0.98%
- 6M
- 1.34%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SHYD vs. AUSM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SHYD VanEck Short High Yield Muni ETF | 0.97% | 3.32% |
AUSM Allspring Ultra Short Municipal ETF | 0.98% | 1.63% |
Correlation
The correlation between SHYD 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 9, 2025 | 0.09 |
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Return for Risk
SHYD vs. AUSM — Risk / Return Rank
SHYD
AUSM
SHYD vs. AUSM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Short High Yield Muni ETF (SHYD) 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.
| SHYD | AUSM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.35 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.40 | — | — |
| Martin ratioReturn relative to average drawdown | 7.88 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SHYD | AUSM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.74 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.21 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 3.98 | -3.72 |
Drawdowns
SHYD vs. AUSM - Drawdown Comparison
The maximum SHYD drawdown since its inception was -31.22%, which is greater than AUSM's maximum drawdown of -0.42%. Use the drawdown chart below to compare losses from any high point for SHYD and AUSM.
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Drawdown Indicators
| SHYD | AUSM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.22% | -0.42% | -30.80% |
Max Drawdown (1Y)Largest decline over 1 year | -2.17% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -4.17% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -13.32% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -31.22% | — | — |
Current DrawdownCurrent decline from peak | -0.17% | -0.02% | -0.15% |
Average DrawdownAverage peak-to-trough decline | -3.03% | -0.09% | -2.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | — | — |
Volatility
SHYD vs. AUSM - Volatility Comparison
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Volatility by Period
| SHYD | AUSM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.86% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.93% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.00% | 0.73% | +2.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.37% | 0.73% | +4.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.69% | 0.73% | +8.96% |
SHYD vs. AUSM - Expense Ratio Comparison
SHYD has a 0.35% expense ratio, which is higher than AUSM's 0.18% expense ratio.
Dividends
SHYD vs. AUSM - Dividend Comparison
SHYD's dividend yield for the trailing twelve months is around 3.50%, more than AUSM's 2.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AUSM Allspring Ultra Short Municipal ETF | 2.39% | 1.26% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SHYD VanEck Short High Yield Muni ETF | 3.50% | 3.50% | 3.16% | 2.99% | 2.66% | 2.56% | 3.05% | 3.19% | 3.17% | 3.11% | 2.97% | 3.26% |
Frequently Asked Questions
SHYD 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.
On fees, AUSM is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AUSM is cheaper with a 0.18% expense ratio, compared with 0.35% for SHYD.
SHYD has the higher dividend yield at 3.50%, compared with 2.39% for AUSM.
They also come from different issuers: VanEck and Allspring. Their fees differ too: 0.35% for SHYD and 0.18% for AUSM.
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