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AMUN

GradeCNASDAQ Global Market

abrdn Ultra Short Municipal Income Active ETF

Municipal Bond · Aberdeen Investments · Inception 1986-03-17

$26.01−0.04 (−0.13%)

As of Sep 23, 2026, 10:25 AM EDT

History starts Oct 21, 2025.History starts Oct 21, 2025.
Intraday session: down, 6 prints from 26.05 to 26.01. Range 26.01 to 26.06. Use the arrow keys to read each point.$26.02$26.04$26.0610 AM12 PM2 PM4 PM
Expense ratio
0.74%
Fund size
$55M
1Y return
—
Yield · Last 12 months
Data unavailable
Volume · 30D
0M sh
NAV per share
$26.01
52W range
low $25.89high $26.30

The ETF.net AMUN Grade

C

43/ 100

Rank 27 of 28 in Short-Duration Municipal Bonds⁠

Confidence High

Six-pillar profile for AMUN. Scores out of 100: Cost 0, Risk 57, Mission 100, Tradability 27, Holdings 32, Durability 54. Strongest: Mission (100). Weakest: Cost (0). Leans toward Mission.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 43 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 0
    Category rank28/28 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 100
    Category rank1/27 · top 4%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    BScore 57
    Category rank8/27 · top 30%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 27
    Category rank24/28 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    DScore 32
    Category rank25/28 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 54
    Category rank17/28 · mid-pack

Graded as of Sep 22, 2026

Our read on AMUN

ETF.net Research

CAn actively run ultra-short muni portfolio with roots to 1986, now in an ETF wrapper. The team hand-picks bonds and holds duration near two years or less, targeting federally tax-exempt income with less rate whiplash than long munis.

Stated mandate

The fund seeks high after-tax current income while preserving capital.

Why people hold it

  1. 01Active, not an index tracker: the team picks credits and keeps weighted average effective duration around two years or less, dialing down interest-rate sensitivity versus longer muni funds.regulated-documents.saytechnologies.com
  2. 02Long lineage for the category: the strategy dates to 1986 and reached the market as an ETF through a fund conversion, run by Aberdeen's fixed income leadership.aberdeeninvestments.com
  3. 03Income mechanics are simple: at least 80% of assets in investment-grade tax-exempt munis, interest free from federal income tax (AMT can apply), distributions paid monthly.regulated-documents.saytechnologies.com
  4. 04The portfolio stays in the lane the prospectus advertises: US, ultra-short, investment-grade municipal bonds, with no drift into other asset classes.

Worth knowing

  1. 01You pay active-management prices. The fee runs several times the short-muni cohort median, where index rivals like VTES (0.05%) and SUB (0.07%) sit.
  2. 02Small and thinly traded next to the giants of the muni aisle, so bid-ask spreads can be wider and large orders may move the price.
  3. 03Credit flexibility cuts both ways: up to a fifth of assets can sit outside investment grade, and the fund is not required to sell a bond whose rating slips below it.regulated-documents.saytechnologies.com

AMUN Holdings

As of Sep 20, 2026, 5:02 AM
Asset class
Bonds
Holdings
—
Top-10 weight
37%
Largest holding
PENNSYLVANIA ST HGR EDUCTNL FA PASHGR 09/45 ADJUSTABLE VAR4.2%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 5.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—PENNSYLVANIA ST HGR EDUCTNL FA PASHGR 09/45 ADJUSTABLE VAR4.18%2,300,000$2M1
002—JP MORGAN CHASE PUTTERS/DRIVER JPM 03/27 ADJUSTABLE VAR4.00%2,200,000$2M1
003—SOUTHEAST ENERGY AUTH AL COMMO SEEPWR 05/53 ADJUSTABLE VAR3.72%2,000,000$2M11
004—CUMBERLAND CNTY NC INDL FACS CUMPOL 12/27 ADJUSTABLE VAR3.69%2,030,000$2M4
005—CHANDLER AZ INDL DEV AUTH INDL CHADEV 09/52 ADJUSTABLE VAR3.66%2,000,000$2M8
006—NEWARK NJ NWK 05/27 FIXED 4.253.64%2,000,000$2M1
007—JOHNSON CITY NY JOH 06/27 FIXED 43.63%2,000,000$2M1
008—TNDR OPT FLTR BAP0002 12/27 13.63%2,000,000$2M3
009—POUGHKEEPSIE CITY NY POU 04/27 FIXED 3.53.62%2,000,000$2M1
010—NEW YORK CITY NY MUNI WTR FIN NYCUTL 06/41 ADJUSTABLE VAR3.27%1,800,000$2M2
011—MISSISSIPPI ST BUSINESS FIN CO MSSDEV 11/32 ADJUSTABLE VAR2.98%1,640,000$2M1
012—HARRIS CNTY TX CULTURAL EDU FA HARMED 11/46 ADJUSTABLE VAR2.68%1,475,000$1M1
013—MAIN STREET NATURAL GAS INC GA MAIUTL 05/52 ADJUSTABLE VAR2.58%1,415,000$1M15
014—LOUISVILLE JEFFERSON CNTY KY LOUTRN 01/29 ADJUSTABLE VAR2.54%1,400,000$1M1
015—BARTOW CNTY GA DEV AUTH SOLID BTWPOL 11/62 ADJUSTABLE VAR2.18%1,200,000$1M2

Showing 1–15 of 68 holdings

AMUN Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

AMUN$10,191
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,430
Dec 31, 2025 to Sep 22, 2026. AMUN $10,191. SPY $11,430. Use the arrow keys to read each point.$9,119$10,381$11,642Dec 2025May 2026Sep 2026

Dec 31, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for AMUN. Periods over one year show the average yearly return.
PeriodAMUN
Year to date+1.9%
1 month+0.1%
3 months+0.7%
1 yearHistory unavailable—
3 yearsHistory unavailable—per year
5 yearsHistory unavailable—per year
10 yearsHistory unavailable—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for AMUN
YearReturn barAMUN
2026 YTD+1.9%
2025+0.1%

History from Oct 21, 2025

AMUN in the news

ETF.net Research hasn’t filed on AMUN yet — coverage lands here as it’s written.

AMUN Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.06 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 11 payments from 2025 to 2026 YTD. Nov 3, 2025 $0.04; Dec 1, 2025 $0.07; Dec 24, 2025 $0.07; Feb 2, 2026 $0.06; Mar 2, 2026 $0.07; Apr 1, 2026 $0.07; May 1, 2026 $0.06; Jun 1, 2026 $0.06; Jul 1, 2026 $0.06; Aug 3, 2026 $0.06; Sep 1, 2026 $0.06. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Sep 1, 2026Sep 2, 2026$0.06
Aug 3, 2026Aug 4, 2026$0.06
Jul 1, 2026Jul 2, 2026$0.06
Jun 1, 2026Jun 2, 2026$0.06
May 1, 2026May 4, 2026$0.06
Apr 1, 2026Apr 2, 2026$0.07
Mar 2, 2026Mar 3, 2026$0.07
Feb 2, 2026Feb 3, 2026$0.06
Dec 24, 2025Dec 29, 2025$0.07
Dec 1, 2025Dec 3, 2025$0.07
Nov 3, 2025Nov 5, 2025$0.04

AMUN Risk

How much the fund’s monthly returns vary, scaled to a year.
—
No data available
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
No data available
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
No data available
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.82
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

AMUN Cost

Expense ratio0.74%
  • The middle half of Short-Duration Municipal Bonds funds
  • Median 0.25%

Every other Short-Duration Municipal Bonds fund charges less.

AMUN costs $74.00 a year on $10,000. The median Short-Duration Municipal Bonds fund costs $25.00.