Allspring Ultra Short Municipal ETF
$24.89+0.01 (+0.02%)
- 0.19%
- $33M
- +1.9%
- 2.78%
- 0M sh
- $24.85
- low $24.76high $25.53
The ETF.net AUSM Grade
B
Score 59 out of 100
- 17 of 28
Score 59 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.B63 out of 100Rank 10 of 28Mission
Whether the fund did what it promised, tested against its stated mandate.A100 out of 100Rank 1 of 27Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B59 out of 100Rank 6 of 27Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.F21 out of 100Rank 27 of 28Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.D33 out of 100Rank 23 of 28Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.F11 out of 100Rank 27 of 28
Our read on AUSM
BAllspring's institutional ultra-short muni desk in an ETF wrapper. Active, aimed at federal-tax-exempt income at the very front of the curve, average maturity kept to about a year or less, priced below the typical short-muni fund.
The Fund seeks current income exempt from federal income tax while preserving capital. It invests principally in short-term municipal securities and generally expects a dollar-weighted average effective maturity of one year or less.
Why people hold it
- Actively run rather than index-bound: it can hold up to 10% below-investment-grade munis, up to 20% AMT bonds, and use futures to manage duration.sec.gov
- The 0.18% expense ratio sits under the 0.25% median for short-duration muni ETFs, which is unusual for an actively managed bond fund.
- Built for the very front of the curve: a dollar-weighted average effective maturity of one year or less, with income distributed monthly.sec.gov
Worth knowing
- Index rivals cost less, with VTES at 0.05% and SUB at 0.07%. The gap is the price of an active muni desk picking the bonds.
- Launched in 2025, it is one of the smaller and more lightly traded funds in its aisle, so spreads can run wider than at the big index names.
- Interest is exempt from federal income tax but not necessarily the AMT, and up to 20% of assets can sit in AMT-subject bonds.sec.gov
AUSM Holdings
- Bonds
- 106
- 16%
- J P Morgan Chase Putters / Drivers Tr Var Sts
Geography
- United States100.00%
AUSM Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
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AUSM$10,190
Returns run to the Oct 12, 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.
| Period | AUSM |
|---|---|
| Year to date | +1.2% |
| 1 month | −0.2% |
| 3 months | −0.1% |
| 1 year | +1.9% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | AUSM |
|---|---|---|
| 2026 YTD | +1.2% | |
| 2025 | +1.7% |
AUSM in the news
AUSM Dividends
- 2.78%
- $0.69
- $0.06 per share
- Monthly
Distribution history
AUSM Risk
- 1.1%
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.
- −1.72
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.
- −0.9%
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.
- 0.02
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
AUSM Cost
0.19%
AUSM0.19%
- The middle half of Short-Duration Municipal Bonds funds
- Median 0.25%
9 of the 27 Short-Duration Municipal Bonds funds charge less.
Other funds in Short-Duration Municipal Bonds
- BTAFIAlliance Bernstein - AB Tax-Aware Short Duration Municipal ETFExpense ratio 0.27%1 year return +0.5%
- BTMNST. Rowe Price Short Municipal Income ETFExpense ratio 0.18%1 year return —
- BCALIiShares Short-Term California Muni Active ETFExpense ratio 0.25%1 year return +1.1%
- BFSMBFirst Trust Short Duration Managed Municipal ETFExpense ratio 0.34%1 year return +0.3%
- BMMSDNYLI MacKay Muni Short Duration ETFExpense ratio 0.25%1 year return +1.0%