PSQAvsAUSMETF Comparison
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Palmer Square CLO Senior Debt ETF (PSQA) and Allspring Ultra Short Municipal ETF (AUSM) have similar underlying exposures to countries and sectors. PSQA's top 2 sector exposures are Industrials and Non-Corporate. In contrast, AUSM's top sector exposures are Municipal. PSQA is more expensive with a Total Expense Ratio (TER) of 0.21%, versus 0.18% for AUSM. PSQA is up 4.03% year-to-date (YTD) with +$169M in YTD flows. AUSM performs worse with 1.4% YTD performance, and +$3M in YTD flows. Run a side-by-side ETF comparison of PSQA and AUSM 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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PSQA vs AUSM performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/19/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PSQA AUSM | +0.35%+0.07% | +1.27%+0.07% | +4.03%+1.40% | +5.08%+2.02% | n/an/a | n/an/a |
| Flows | PSQA AUSM | +$27M- | +$94M+$1M | +$169M+$3M | +$190M+$3M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PSQA AUSM | +0.20%+0.91% | +0.43%+0.58% | n/an/a | n/an/a |
| Max drawdown | PSQA AUSM | n/a-0.89% | -0.24%-0.89% | n/an/a | n/an/a |
| Max drawdown duration | PSQA AUSM | n/a47d | 20d47d | n/an/a | n/an/a |
Trading data
PSQA | AUSM | |
Last sale 10/20/2026 at 1:30 PM | $20.64 | $24.95 |
| Previous close 10/19/2026 | $20.62 | $24.94 |
| Consolidated volume 10/19/2026 | ||
| 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 indexPSQA | AUSM | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/20/2026 at 1:30 PM
Live
Closed
PSQA | AUSM | |
|---|---|---|
| Last price | $20.64 | $24.95 |
| 1D performance | +0.10% | +0.06% |
| AuM | $241.68 M | $32.89 M |
| E/R | 0.21% | 0.18% |
Characteristics
PSQA | AUSM | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Palmer Square | Allspring |
| Benchmark | Palmer Square CLO Senior Debt Index | - |
| N° of holdings | 20 | 16 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 11, 2024 | July 8, 2025 |
| ESG | No | No |
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Exposure
Countries
PSQA
USA
14.84%
Other
85.16%
AUSM
USA
13.19%
Other
86.81%
Sectors
PSQA
Industrials
14.55%
Other
85.45%
AUSM
Municipal
13.19%
Other
86.81%
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Diversification
PSQA
Total weight of top 15 holdings out of 15
21.9%
AUSM
Total weight of top 15 holdings out of 15
24.25%
Top 15 holdings
Data as of August 31, 2026
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%
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%
US88035UNZ65
1.49%
US95345PAC23
1.49%
US144838AE99
1.49%
US735220AX30
1.49%
US469400DZ58
1.49%
Frequently asked questions about PSQA and AUSM
How have the PSQA and AUSM ETFs performed in 2026?
As of October 19, 2026, PSQA is up 4.03% year-to-date (YTD), while AUSM has returned 1.4%. That puts PSQA better performer ahead so far this year.
Which ETF is attracting more investor money: PSQA or AUSM?
Year-to-date, the PSQA ETF saw +$169M in flows, compared to +$3M for AUSM.
Which ETF is more volatile: PSQA or AUSM?
Over the past year, PSQA had a volatility of 0.43%, while AUSM experienced 0.58%.
Which ETF is bigger: PSQA or AUSM?
As of October 19, 2026, PSQA holds $241.68 M in assets under management (AUM), while AUSM manages $32.89 M.
What sectors do the PSQA and AUSM ETFs invest in?
PSQA leans toward sectors like Industrials. Meanwhile, AUSM focuses on Municipal.
What are the top holdings of the PSQA ETF and AUSM ETF?
PSQA top holdings include Elmwood CLO 2025-1A, FRN 22apr2038, USD (ABS, A), US75884YAK47 and US12549QBL86. AUSM holds in its top three: US46640KS620, US44244CN944 and US20775DXK35.
Which ETF is more diversified: PSQA or AUSM?
PSQA holds 146 securities with 21.9% of its assets in the top 15. AUSM has 99 securities and a top 15 weight of 24.25%.
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