AUSM vs QQQ
Allspring Ultra Short Municipal ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ delivered stronger 1-year returns. QQQ offers more diversification with 108 holdings.
Side-by-Side Comparison
| Metric | AUSM | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.18% | |
| AUM | $33M | $496.3B | |
| Dividend Yield | 2.77% | 0.44% | |
| Holdings | 95 | 108 | |
| YTD Return | +1.53% | +16.64% | |
| 1Y Return | +2.62% | +27.27% | |
| 3Y Return (annualized) | - | +25.96% | |
| 5Y Return (annualized) | - | +14.54% | |
| Volatility (annualized) | 0.6% | 30.6% | |
| Max Drawdown | -0.4% | -83.0% | |
| Fund Family | Allspring Global Investments | Invesco (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Jul 8, 2025 | Mar 10, 1999 |
AUSM vs QQQ Performance
Allspring Ultra Short Municipal ETF (AUSM) is a ETF from Allspring Global Investments and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year AUSM returned +2.62% while QQQ returned +27.27%. Year to date, AUSM is up 1.53% versus a gain of 16.64% for QQQ.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 0.6% for AUSM. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -0.4% for AUSM and -83.0% for QQQ. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.24. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
AUSM charges 0.18% per year while QQQ charges 0.18%. On a $10,000 position that is $18 vs $18 annually. On income, AUSM currently yields 2.77% against 0.44% for QQQ.
Holdings Overlap
AUSM and QQQ share 0 holdings out of 115 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, AUSM or QQQ?
AUSM has an expense ratio of 0.18% while QQQ charges 0.18%. They cost the same. On a $10,000 investment, that is $0 per year of difference.
Which performed better, AUSM or QQQ?
Over the past year AUSM returned +2.62% vs +27.27% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (1 years), AUSM annualized +2.83% vs +13.03% for QQQ. Past performance does not guarantee future results.
Which is riskier, AUSM or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 0.6% for AUSM. Worst drawdown: AUSM -0.4% vs QQQ -83.0%.
Should I hold both AUSM and QQQ?
AUSM and QQQ have a monthly-return correlation of 0.24, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between AUSM and QQQ?
AUSM and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 115 unique securities.
Which pays a higher dividend, AUSM or QQQ?
AUSM yields 2.77% while QQQ yields 0.44%, so AUSM currently pays the higher dividend yield.
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