What this ETF is trying to do

The Allspring Ultra Short Municipal ETF (AUSM) is an exchange-traded fund. While the specific goals are not listed in the data, "Ultra Short Municipal" typically refers to a fund that invests in short-term loans made to state or local governments.

What the numbers show

As of October 5, 2026, the share price was $24.84.

When looking at performance, it is important to understand the difference between price return and total return. Price return only looks at the change in the share price. Total return includes both the share price change and the cash distributions paid to investors.

• Year-to-Date (YTD): The price return is -1.04%, but the total return is 0.99%.

• One Year: The price return is -1.06%, while the total return is 1.71%.

To put this in perspective, if you had invested $10,000 based on the estimated price from roughly one year ago ($25.10), the value of those shares alone would have decreased slightly. However, the total return shows that the overall value increased when distributions were included.

Income and distribution explanation

This ETF usually pays out distributions monthly. In the last 12 months, it made 13 payouts. The distribution yield is approximately 2.79%.

For new investors, it is important to remember that a high distribution yield alone can be misleading. A yield tells you how much cash the fund is paying out relative to its price, but it does not guarantee that the original investment (the principal) will stay the same.

NAV erosion explanation

"NAV erosion" happens when the net asset value of a fund declines over time, often meaning the fund is losing its underlying value.

StockValueFinder uses an erosion-risk score to measure this. AUSM has an erosion score of 94, which is labeled as "Stable / sideways" with "good" severity. Additionally, the severe erosion-risk flag is false, meaning the fund's price trend did not trigger a severe warning.

Pros

• Positive Total Returns: While the share price fell slightly over the last year, the total return remained positive.

• Stability: The erosion-risk score suggests the fund is currently stable.

• Regular Income: The fund provides frequent, usually monthly, cash distributions.

Cons

• Price Decline: The share price has seen a slight decline both year-to-date and over the past year.

• Average Income Grade: The fund has an income rating grade of "C."

Beginner takeaway

AUSM is a fund where the share price has dipped slightly, but the cash payments to investors have kept the total return positive. It is currently rated as stable regarding erosion risk, meaning it is not showing signs of a collapse in value.