AUSMvsPSQAETF Comparison
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Allspring Ultra Short Municipal ETF (AUSM) and Palmer Square CLO Senior Debt ETF (PSQA) have similar underlying exposures to countries and sectors. AUSM's top 1 sector exposures are Municipal. In contrast, PSQA's top sector exposures are Industrials and Non-Corporate. AUSM is less expensive with a Total Expense Ratio (TER) of 0.18%, versus 0.21% for PSQA. AUSM is up 1.34% year-to-date (YTD) with +$3M in YTD flows. PSQA performs better with 3.99% YTD performance, and +$163M in YTD flows. Run a side-by-side ETF comparison of AUSM and PSQA below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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AUSM vs PSQA performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/15/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | AUSM PSQA | -0.05%+0.38% | -0.01%+1.28% | +1.34%+3.99% | +1.96%+5.09% | n/an/a | n/an/a |
| Flows | AUSM PSQA | -+$25M | +$1M+$88M | +$3M+$163M | +$3M+$186M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | AUSM PSQA | +0.91%+0.20% | +0.57%+0.43% | n/an/a | n/an/a |
| Max drawdown | AUSM PSQA | -0.89%n/a | -0.89%-0.24% | n/an/a | n/an/a |
| Max drawdown duration | AUSM PSQA | 46dn/a | 46d20d | n/an/a | n/an/a |
Trading data
AUSM | PSQA | |
Last sale 10/16/2026 at 1:30 PM | $24.93 | $20.62 |
| Previous close 10/15/2026 | $24.90 | $20.61 |
| Consolidated volume 10/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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AUSM
is actively managed and doesn’t replicate an indexAUSM | PSQA | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
AUSM | PSQA | |
|---|---|---|
| Last price | $24.93 | $20.62 |
| 1D performance | +0.14% | +0.05% |
| AuM | $32.88 M | $235.42 M |
| E/R | 0.18% | 0.21% |
Characteristics
AUSM | PSQA | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Allspring | Palmer Square |
| Benchmark | - | Palmer Square CLO Senior Debt Index |
| N° of holdings | 16 | 20 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | July 8, 2025 | September 11, 2024 |
| ESG | No | No |
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Exposure
Countries
AUSM
USA
13.19%
Other
86.81%
PSQA
USA
14.84%
Other
85.16%
Sectors
AUSM
Municipal
13.19%
Other
86.81%
PSQA
Industrials
14.55%
Other
85.45%
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Diversification
AUSM
Total weight of top 15 holdings out of 15
24.25%
PSQA
Total weight of top 15 holdings out of 15
21.9%
Top 15 holdings
Data as of August 31, 2026
AUSM
US46640KS620
2.24%
US44244CN944
2.09%
US20775DXK35
1.87%
US09025PFN15
1.55%
US7436006C72
1.52%
Chandler Industrial Development Authority, 4.1% 1dec2037, USD (2007)
1.51%
US67756CGH51
1.50%
US167562SY49
1.50%
US01179R6Z17
1.50%
US56035DDP42
1.49%
US144838AE99
1.49%
US735220AX30
1.49%
US60700HUN78
1.49%
US88035UKD80
1.49%
US95345PAC23
1.49%
PSQA
Elmwood CLO 2025-1A, FRN 22apr2038, USD (ABS, A)
2.00%
US75884YAK47
1.91%
US12549QBL86
1.64%
US64132TAU79
1.43%
US74971CAU71
1.43%
US12553DAS62
1.43%
US03768UAG40
1.43%
Magnetite CLO 2019-23A, FRN 25jan2035, USD (ABS, AR)
1.43%
US03990HAA68
1.43%
US75884EAN22
1.43%
Invesco US CLO 2023-1A, FRN 22apr2037, USD (ABS, AR2)
1.43%
US675949AQ45
1.31%
US67097LAV80
1.20%
US67402CBU99
1.19%
AIMCO CLO 2026-27A, FRN 20apr2039, USD (ABS, A1)
1.19%
Frequently asked questions about AUSM and PSQA
How have the AUSM and PSQA ETFs performed in 2026?
As of October 15, 2026, AUSM is up 1.34% year-to-date (YTD), while PSQA has returned 3.99%. That puts PSQA better performer ahead so far this year.
Which ETF is attracting more investor money: AUSM or PSQA?
Year-to-date, the AUSM ETF saw +$3M in flows, compared to +$163M for PSQA.
Which ETF is more volatile: AUSM or PSQA?
Over the past year, AUSM had a volatility of 0.57%, while PSQA experienced 0.43%.
Which ETF is bigger: AUSM or PSQA?
As of October 15, 2026, AUSM holds $32.88 M in assets under management (AUM), while PSQA manages $235.42 M.
What sectors do the AUSM and PSQA ETFs invest in?
AUSM leans toward sectors like Municipal. Meanwhile, PSQA focuses on Industrials.
What are the top holdings of the AUSM ETF and PSQA ETF?
AUSM top holdings include US46640KS620, US44244CN944 and US20775DXK35. PSQA holds in its top three: Elmwood CLO 2025-1A, FRN 22apr2038, USD (ABS, A), US75884YAK47 and US12549QBL86.
Which ETF is more diversified: AUSM or PSQA?
AUSM holds 99 securities with 24.25% of its assets in the top 15. PSQA has 146 securities and a top 15 weight of 21.9%.
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