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Name

As of 11/20/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Allspring Ultra Short-Term Municipal Income Fund

SMAVX | Fund

$9.64

$824 M

2.77%

$0.27

0.66%

Vitals

YTD Return

2.9%

1 yr return

3.7%

3 Yr Avg Return

1.7%

5 Yr Avg Return

1.2%

Net Assets

$824 M

Holdings in Top 10

12.8%

52 WEEK LOW AND HIGH

$9.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.66%

SALES FEES

Front Load 2.00%

Deferred Load N/A

TRADING FEES

Turnover 30.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000

IRA

$250

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/20/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Allspring Ultra Short-Term Municipal Income Fund

SMAVX | Fund

$9.64

$824 M

2.77%

$0.27

0.66%

SMAVX - Profile

Distributions

  • YTD Total Return 2.9%
  • 3 Yr Annualized Total Return 1.7%
  • 5 Yr Annualized Total Return 1.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.42%
DIVIDENDS
  • Dividend Yield 2.8%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Allspring Ultra Short-Term Municipal Income Fund
  • Fund Family Name
    Allspring Funds
  • Inception Date
    Oct 02, 2000
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Bruce Johns

Fund Description

Under normal circumstances, we invest:
■
at least 80% of the Fund’s net assets in municipal securities whose interest is exempt from federal income tax, but not necessarily federal alternative minimum tax (AMT);
■
up to 20% of the Fund’s  total assets in securities whose interest is subject to federal AMT; and
■
up to 10% of the Fund’s total assets in below investment-grade municipal securities.
We invest principally in short-term municipal securities of states, territories and possessions of the United States whose interest is exempt from federal income tax, but not necessarily federal AMT. Some of the securities may be below investment grade or may be unrated and deemed by us to be of comparable quality. We may also invest a portion of the Fund’s  assets in securities whose interest is subject to federal AMT. We may use futures for duration and yield curve management. While we may purchase securities of any maturity, under normal circumstances, we expect the Fund’s dollar-weighted average effective maturity to be 1 year or less.
We use a combination of top-down and bottom-up research to cover the four main elements of total return: duration management, yield curve positioning, sector and credit quality allocation, and security selection. Our top-down analysis involves an evaluation of macroeconomic factors that may include, among others, the pace of economic growth, employment conditions, inflation, and monetary and fiscal policy. Our bottom-up analysis, which involves intensive research into the credit fundamentals of individual issuers and the relative value of individual issues, is used to uncover solid investment opportunities. Securities are selected based on several factors, including, among others, improving financial trends, positive industry and sector dynamics, improving economic conditions, and specific demographic trends. Securities may be sold based on relative value considerations and could be replaced with a security that presents a better value or risk/reward profile. A security may also be sold due to changes in credit characteristics or outlook, as well as changes in portfolio strategy or cash flow needs.
Read More

SMAVX - Performance

Return Ranking - Trailing

Period SMAVX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.9% -4.6% 33.0% 27.58%
1 Yr 3.7% -0.1% 38.0% 93.34%
3 Yr 1.7%* -10.8% 3.4% 2.64%
5 Yr 1.2%* -6.7% 1104.0% 23.38%
10 Yr 0.9%* -0.9% 248.8% 86.43%

* Annualized

Return Ranking - Calendar

Period SMAVX Return Category Return Low Category Return High Rank in Category (%)
2023 1.4% -1.4% 41.0% 90.11%
2022 -1.6% -39.7% 0.3% 1.83%
2021 -0.2% -5.6% 6.9% 38.27%
2020 0.1% -2.6% 310.0% 94.93%
2019 0.3% 0.0% 26.0% 99.00%

Total Return Ranking - Trailing

Period SMAVX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.9% -4.6% 33.0% 27.58%
1 Yr 3.7% -0.1% 38.0% 93.34%
3 Yr 1.7%* -10.8% 3.4% 2.64%
5 Yr 1.2%* -6.7% 1104.0% 23.38%
10 Yr 0.9%* -0.9% 248.8% 86.43%

* Annualized

Total Return Ranking - Calendar

Period SMAVX Return Category Return Low Category Return High Rank in Category (%)
2023 3.4% -1.3% 41.0% 93.79%
2022 -0.8% -39.7% 1.1% 2.30%
2021 0.1% -4.8% 23761504.0% 85.81%
2020 0.7% -1.5% 17057.9% 97.01%
2019 1.8% 0.2% 3514.6% 98.36%

NAV & Total Return History

SMAVX - Holdings

Concentration Analysis

SMAVX Category Low Category High SMAVX % Rank
Net Assets 824 M 3.22 M 71.9 B 33.53%
Number of Holdings 403 4 13418 31.11%
Net Assets in Top 10 99.8 M -317 M 3.09 B 44.10%
Weighting of Top 10 12.77% 1.8% 100.3% 72.60%

Top 10 Holdings

  1. FAIRFAX CNTY VA REDEV HSG AUTH MF HSG REVENUE 1.89%
  2. CONNECTICUT ST HLTH EDUCTNL FACS AUTH REVENUE 1.79%
  3. QUINCY MA 1.32%
  4. CLG PARK GA BUSINESS INDL DEV AUTH MF HSG REVENUE 1.28%
  5. UNIV HOSPS CLINICS AUTH WI 1.22%
  6. MET TRANSPRTN AUTH NY REVENUE 1.16%
  7. LOUISIANA ST LOCAL GOVT ENVRNMNTL FACS CMNTY DEV AUTH REVE 1.13%
  8. DALLAS TX SPL TAX REVENUE 1.03%
  9. County of Mercer ND 0.98%
  10. MASSACHUSETTS ST HLTH EDUCTNL FACS AUTH REVENUE 0.96%

Asset Allocation

Weighting Return Low Return High SMAVX % Rank
Bonds 		98.00% 0.00% 150.86% 68.58%
Cash 		2.85% -50.86% 44.62% 19.12%
Stocks 		0.00% 0.00% 99.78% 49.53%
Preferred Stocks 		0.00% 0.00% 0.07% 39.84%
Other 		0.00% -3.69% 51.88% 47.77%
Convertible Bonds 		0.00% 0.00% 0.93% 39.33%

Bond Sector Breakdown

Weighting Return Low Return High SMAVX % Rank
Municipal 		94.73% 44.39% 100.00% 83.81%
Cash & Equivalents 		2.85% 0.00% 44.41% 12.59%
Derivative 		0.00% -3.69% 51.88% 44.70%
Securitized 		0.00% 0.00% 5.93% 40.27%
Corporate 		0.00% 0.00% 9.41% 49.50%
Government 		0.00% 0.00% 52.02% 44.28%

Bond Geographic Breakdown

Weighting Return Low Return High SMAVX % Rank
US 		98.00% 0.00% 142.23% 66.09%
Non US 		0.00% 0.00% 23.89% 41.71%

SMAVX - Expenses

Operational Fees

SMAVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.66% 0.01% 8.02% 58.00%
Management Fee 0.25% 0.00% 1.20% 9.85%
12b-1 Fee 0.00% 0.00% 1.00% 6.97%
Administrative Fee 0.16% 0.01% 0.44% 84.71%

Sales Fees

SMAVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 2.00% 0.50% 4.75% 94.83%
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

SMAVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

SMAVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 30.00% 0.00% 283.00% 78.79%

SMAVX - Distributions

Dividend Yield Analysis

SMAVX Category Low Category High SMAVX % Rank
Dividend Yield 2.77% 0.00% 14.51% 80.76%

Dividend Distribution Analysis

SMAVX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

SMAVX Category Low Category High SMAVX % Rank
Net Income Ratio 0.42% -0.53% 5.33% 96.63%

Capital Gain Distribution Analysis

SMAVX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

SMAVX - Fund Manager Analysis

Managers

Bruce Johns

Start Date

Tenure

Tenure Rank

Nov 01, 2017

4.58

4.6%

Bruce Johns is a senior portfolio manager for the Municipal Fixed Income team at Allspring Global Investments. In this capacity, he manages national short to intermediate maturity strategies and certain state-specific mutual funds. Bruce joined Allspring from its predecessor firm, Wells Fargo Asset Management (WFAM). He joined WFAM from Strong Capital Management, where he was a senior research analyst covering the health care sector. Prior to taking on the role of research analyst at Strong, his area of responsibility included all fixed income settlements operations. He earned a bachelor’s degree in business and finance from the University of Wisconsin, Parkside. Bruce is a member of the National Federation of Municipal Analysts and the Minnesota Society of Municipal Analysts.

James Randazzo

Start Date

Tenure

Tenure Rank

Mar 28, 2019

3.18

3.2%

James (Jim) Randazzo is a senior portfolio manager for the Global Liquidity Solutions and Municipal Fixed Income teams at Allspring Global Investments. He joined Allspring from its predecessor firm, Wells Fargo Asset Management (WFAM). Prior to WFAM, Jim was with Evergreen or one of its predecessor firms since 2000. Earlier, he served as a financial analyst at KPMG, as a financial advisor for Prudential Securities, and as a trader for HSBC. He began his investment industry career in 1993 at Greenwich Partners, Inc. Jim earned a bachelor’s degree in finance from Iona College and a master’s degree in business administration with an emphasis in finance from the University of Connecticut.

Nicholos Venditti

Start Date

Tenure

Tenure Rank

Sep 01, 2020

1.75

1.8%

Nicholos Venditti is a senior portfolio manager for the Municipal Fixed Income team at Allspring Global Investments. He joined Allspring from its predecessor firm, Wells Fargo Asset Management (WFAM). Before joining WFAM, he was with Thornburg Investment Management as a portfolio manager and head of the municipal bond group. Earlier positions there include serving as a portfolio manager on seven mutual funds and separately managed accounts with total assets of approximately $10 billion. Prior to Thornburg, Nicholos held a variety of roles focused on municipal credit analysis at Financial Security Assurance/Assured Guaranty, where he began his investment industry career in 2007. He earned a bachelor’s degree in theoretical economics from Trinity University; a master’s degree in applied economics from the University of North Carolina, Greensboro, where he also served as an adjunct professor; and a master’s degree in finance from Syracuse University. He has earned the right to use the Chartered Financial Analyst® (CFA) designation.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.35 1.58

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