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Launched

abrdn Ultra Short Municipal Income Active ETF

AMUNNasdaqAberdeen InvestmentsB

$26.00+0.01 (+0.03%)

At close: Nov 2, 2026, 4:00 PM ET

B56/ 100

Rank 19 of 28 in Short-Duration Municipal Bonds

B56/100Rank 19 of 28inShort-Duration Municipal Bonds
Intraday session: up, 79 prints from 26.00 to 26.00. Range 26.00 to 26.04. Use the arrow keys to read each point.26.0126.0226.0326.0410 AM12 PM2 PM4 PM
Expense ratio
0.25%*
Fund size
$61M
1Y total return
+2.7%
Yield · Last 12 months
No data
Holdings
73
Avg volume · 30D
5.18K sh
52W range
low $25.80high $26.30
Launched

*After a fee waiver that ends Feb 28, 2028. Without it: 0.74%.

The ETF.net AMUN Grade

B

Score 56 out of 100

Category
Short-Duration Municipal Bonds⁠
Rank
19 of 28
Six-pillar profile for AMUN. Scores out of 100: Cost 39, Risk 62, Mission 100, Tradability 29, Holdings 30, Durability 54. Strongest: Mission (100). Weakest: Tradability (29). Leans toward Mission.

Score 56 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    D39 out of 100
    Rank 15 of 28

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A100 out of 100
    Rank 1 of 27

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B62 out of 100
    Rank 5 of 27

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D29 out of 100
    Rank 23 of 28

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    D30 out of 100
    Rank 26 of 28

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C54 out of 100
    Rank 17 of 28

Our read on AMUN

ETF.net Research

In short

BUltra-short munis run by an active desk instead of an index, under a strategy whose track record dates to 1986. The aim: high after-tax income with capital preservation, paid out monthly.

Stated mandate

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

Why people hold it

  • A human desk picks the bonds and sets duration here, rather than mirroring a muni index. The stated job: high after-tax current income while preserving capital.
  • 0.25% net of a waiver running through February 28, 2028, versus a 0.74% gross fee, and near what short-muni funds typically charge.
  • Income lands monthly, and the portfolio stays inside its lane: US municipal bonds at the ultra-short end of the curve.

Worth knowing

  • Cheaper index options sit on the same shelf, like VTES at 0.05% and SUB at 0.07%. Active management is what the extra cost buys.
  • Thinly traded and small by category standards, so limit orders matter and spreads can be wider than at the big index funds.
  • Capital preservation is the goal, not a promise: muni credit and rate moves still move the price, and the waiver is scheduled to end.

AMUN Performance

Launched Mar 17, 1986

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

Not enough history yet.Not enough history yet.Not enough history yet.
AMUN$10,267
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. AMUN $10,267. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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+2.2%
1 month+0.5%
3 months+0.7%
1 year+2.7%
3 yearsHistory unavailableper yearNo data
5 yearsHistory unavailableper yearNo data
10 yearsHistory unavailableper yearNo data

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+2.2%
2025+0.1%

History from Oct 21, 2025

AMUN in the news

AMUN Dividends

Last payment
$0.07 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. 12 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; Oct 1, 2026 $0.07. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Nov 2, 2026Pays Nov 3, 2026$0.06
Oct 1, 2026Oct 2, 2026$0.07
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

See all 13 payments⁠

$10,000 in AMUN 1 year ago paid $286 in dividends.⁠

AMUN Risk

Risk pillarB62 out of 100Rank 5 of 27 in Short-Duration Municipal Bonds
How much the fund’s monthly returns vary, scaled to a year.
0.7%
Annualised · 12 months to Oct 2026
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.
−1.67
vs 3-month T-bills · 12 months to Oct 2026
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.
−0.6%
12 months · trough Oct 2025
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.

FMP measures it over up to five years of monthly returns.

AMUN Cost

Compare AMUN and VTES

Overpaying vs VTES, tied cheapest in Short-Duration Municipal Bonds

$4,099

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • AMUN 0.25%

    $5,159

  • VTES 0.05% Tied cheapest

    $1,060

$10,000
30 years

Cost over time

  • AMUN 0.25%
  • VTES 0.05%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K051015202530AMUN $5,159VTES $1,060

Year by year

YearAMUNVTESOverpaying
10$455$92$363
20$1,769$360$1,409
30$5,159$1,060$4,099
How the 0.25% is worked out

Full fee 0.74%− waiver 0.49%= you pay 0.25%

The waiver ends Feb 28, 2028. After that the fee is 0.74% unless Aberdeen Investments renews it. Source: prospectus, Mar 2026.

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