TAFM vs. AUSM
TAFM (AB Tax-Aware Intermediate Municipal ETF) and AUSM (Allspring Ultra Short Municipal ETF) are both Municipal Bonds funds. Both are actively managed. At a 0.17 correlation, their price movements are largely independent. TAFM charges 0.28%/yr vs 0.18%/yr for AUSM.
Performance
TAFM vs. AUSM - Performance Comparison
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Returns By Period
In the year-to-date period, TAFM achieves a 1.91% return, which is significantly higher than AUSM's 0.98% return.
TAFM
- 1D
- 0.00%
- 1M
- 0.81%
- YTD
- 1.91%
- 6M
- 2.26%
- 1Y
- 7.39%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AUSM
- 1D
- -0.02%
- 1M
- 0.21%
- YTD
- 0.98%
- 6M
- 1.34%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TAFM vs. AUSM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TAFM AB Tax-Aware Intermediate Municipal ETF | 1.91% | 4.36% |
AUSM Allspring Ultra Short Municipal ETF | 0.98% | 1.63% |
Correlation
The correlation between TAFM and AUSM is 0.17, 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 9, 2025 | 0.17 |
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Return for Risk
TAFM vs. AUSM — Risk / Return Rank
TAFM
AUSM
TAFM vs. AUSM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AB Tax-Aware Intermediate Municipal ETF (TAFM) 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.
| TAFM | AUSM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.47 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.76 | — | — |
| Martin ratioReturn relative to average drawdown | 9.84 | — | — |
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
| TAFM | AUSM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.31 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.84 | 3.98 | -3.13 |
Drawdowns
TAFM vs. AUSM - Drawdown Comparison
The maximum TAFM drawdown since its inception was -4.74%, which is greater than AUSM's maximum drawdown of -0.42%. Use the drawdown chart below to compare losses from any high point for TAFM and AUSM.
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Drawdown Indicators
| TAFM | AUSM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.74% | -0.42% | -4.32% |
Max Drawdown (1Y)Largest decline over 1 year | -2.69% | — | — |
Current DrawdownCurrent decline from peak | -0.36% | -0.02% | -0.34% |
Average DrawdownAverage peak-to-trough decline | -0.95% | -0.09% | -0.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.75% | — | — |
Volatility
TAFM vs. AUSM - Volatility Comparison
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Volatility by Period
| TAFM | AUSM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.00% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.15% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.22% | 0.73% | +2.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.95% | 0.73% | +4.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.95% | 0.73% | +4.22% |
TAFM vs. AUSM - Expense Ratio Comparison
TAFM has a 0.28% expense ratio, which is higher than AUSM's 0.18% expense ratio.
Dividends
TAFM vs. AUSM - Dividend Comparison
TAFM's dividend yield for the trailing twelve months is around 3.64%, more than AUSM's 2.39% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
AUSM Allspring Ultra Short Municipal ETF | 2.39% | 1.26% | 0.00% | 0.00% |
TAFM AB Tax-Aware Intermediate Municipal ETF | 3.64% | 3.51% | 3.35% | 0.18% |
Frequently Asked Questions
TAFM and AUSM have a correlation of 0.17, 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 0.28% for TAFM.
TAFM has the higher dividend yield at 3.64%, compared with 2.39% for AUSM.
They also come from different issuers: AllianceBernstein and Allspring. Their fees differ too: 0.28% for TAFM and 0.18% for AUSM.
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