SMB vs. AUSM
SMB (VanEck Short Muni ETF) and AUSM (Allspring Ultra Short Municipal ETF) are both Municipal Bonds funds. SMB is passively managed, while AUSM is actively managed. At a 0.10 correlation, their price movements are largely independent. SMB charges 0.20%/yr vs 0.18%/yr for AUSM.
Performance
SMB vs. AUSM - Performance Comparison
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Returns By Period
In the year-to-date period, SMB achieves a 0.76% return, which is significantly lower than AUSM's 1.18% return.
SMB
- 1D
- -0.03%
- 1M
- 0.79%
- YTD
- 0.76%
- 6M
- 0.76%
- 1Y
- 3.53%
- 3Y*
- 3.47%
- 5Y*
- 1.24%
- 10Y*
- 1.48%
AUSM
- 1D
- -0.02%
- 1M
- 0.23%
- YTD
- 1.18%
- 6M
- 1.32%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMB vs. AUSM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SMB VanEck Short Muni ETF | 0.76% | 2.27% |
AUSM Allspring Ultra Short Municipal ETF | 1.18% | 1.58% |
Correlation
The correlation between SMB and AUSM is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jul 8, 2025 | 0.10 |
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Return for Risk
SMB vs. AUSM — Risk / Return Rank
SMB
AUSM
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SMB vs. AUSM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Short Muni ETF (SMB) 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.
| SMB | AUSM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.43 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.03 | — | — |
| Martin ratioReturn relative to average drawdown | 8.52 | — | — |
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Drawdowns
SMB vs. AUSM - Drawdown Comparison
The maximum SMB drawdown since its inception was -12.64%, which is greater than AUSM's maximum drawdown of -0.42%. Use the drawdown chart below to compare losses from any high point for SMB and AUSM.
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Drawdown Indicators
| SMB | AUSM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.64% | -0.42% | -12.22% |
Max Drawdown (1Y)Largest decline over 1 year | -1.17% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -1.80% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -7.48% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -12.64% | — | — |
Current DrawdownCurrent decline from peak | -0.05% | -0.03% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -1.14% | -0.09% | -1.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.42% | — | — |
Volatility
SMB vs. AUSM - Volatility Comparison
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Volatility by Period
| SMB | AUSM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.29% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.16% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.63% | 0.75% | +0.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.48% | 0.75% | +1.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.26% | 0.75% | +3.51% |
SMB vs. AUSM - Expense Ratio Comparison
SMB has a 0.20% 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
SMB vs. AUSM - Dividend Comparison
SMB's dividend yield for the trailing twelve months is around 2.69%, 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% |
SMB VanEck Short Muni ETF | 2.69% | 2.63% | 2.38% | 1.83% | 1.32% | 1.24% | 1.50% | 1.58% | 1.49% | 1.23% | 1.12% | 1.13% |
Frequently Asked Questions
SMB and AUSM have a correlation of 0.10, 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 0.20% for SMB.
SMB has the higher dividend yield at 2.69%, compared with 2.39% for AUSM.
They also come from different issuers: VanEck and Allspring. Their fees differ too: 0.20% for SMB and 0.18% for AUSM.
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