Allspring High Yield Municipal Bond Fund
Fund
WHYMX
Price as of:
$9.63
- $0.00
- 0.00%
Primary Theme
fund company
Name
As of 11/20/2024Price
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
Vitals
YTD Return
5.7%
1 yr return
10.2%
3 Yr Avg Return
-0.3%
5 Yr Avg Return
1.0%
Net Assets
$139 M
Holdings in Top 10
13.9%
52 WEEK LOW AND HIGH
$9.6
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.07%
SALES FEES
Front Load 4.50%
Deferred Load N/A
TRADING FEES
Turnover 55.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
$250
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/20/2024Price
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
WHYMX - Profile
Distributions
- YTD Total Return 5.7%
- 3 Yr Annualized Total Return -0.3%
- 5 Yr Annualized Total Return 1.0%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 3.74%
- Dividend Yield 4.3%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameAllspring High Yield Municipal Bond Fund
-
Fund Family NameAllspring Funds
-
Inception DateJan 31, 2013
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerTerry Goode
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; |
| ■ | at least 50% of the Fund’s total assets in municipal securities rated BBB and below or comparable unrated municipal securities; and |
| ■ | up to 20% of the Fund’s total assets in inverse floaters. |
We invest principally in municipal securities of states, territories and possessions of the United States whose interest is exempt from federal income tax, but not necessarily federal AMT. A substantial portion of the securities will be rated BBB and below or unrated and deemed by us to be of comparable quality. Securities rated BB and below are often called “high yield” securities or “junk bonds”. We may invest in municipal debt of any credit quality. We may also invest a portion of the Fund’s total 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 between 3 and 20 years. “Dollar-weighted average effective maturity” is a measure of the average time until the final payment of principal and interest is due on fixed income securities in the Fund’s portfolio.
We may invest up to 20% of the Fund’s total assets in inverse floaters to seek enhanced returns. Inverse floaters are derivative debt instruments created by depositing a municipal security in a trust. Inverse floaters pay interest at rates that generally vary inversely with specified short-term interest rates and involve leverage. We intend to limit leverage created by the Fund’s investments in inverse floaters to an amount equal to 20% of the Fund’s total assets.
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.
WHYMX - Performance
Return Ranking - Trailing
| Period | WHYMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 5.7% | -2.0% | 12.4% | 48.04% |
| 1 Yr | 10.2% | 1.0% | 18.7% | 62.75% |
| 3 Yr | -0.3%* | -8.8% | 3.0% | 29.35% |
| 5 Yr | 1.0%* | -5.0% | 3.8% | 63.96% |
| 10 Yr | 3.1%* | -0.4% | 155.6% | 44.96% |
* Annualized
Return Ranking - Calendar
| Period | WHYMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 1.8% | -6.2% | 7.5% | 70.10% |
| 2022 | -15.4% | -26.9% | -3.5% | 24.38% |
| 2021 | 1.1% | -1.9% | 5.6% | 76.26% |
| 2020 | -2.2% | -4.0% | 4.2% | 93.40% |
| 2019 | 5.1% | -0.7% | 9.1% | 52.88% |
Total Return Ranking - Trailing
| Period | WHYMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 5.7% | -2.0% | 12.4% | 48.04% |
| 1 Yr | 10.2% | 1.0% | 18.7% | 62.75% |
| 3 Yr | -0.3%* | -8.8% | 3.0% | 29.35% |
| 5 Yr | 1.0%* | -5.0% | 3.8% | 63.96% |
| 10 Yr | 3.1%* | -0.4% | 155.6% | 44.96% |
* Annualized
Total Return Ranking - Calendar
| Period | WHYMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 6.3% | -4.1% | 10.9% | 61.76% |
| 2022 | -11.7% | -26.9% | 4.3% | 23.38% |
| 2021 | 5.5% | -1.9% | 10.0% | 49.49% |
| 2020 | 1.1% | -2.6% | 8.2% | 83.76% |
| 2019 | 9.6% | -0.7% | 1028633.9% | 26.70% |
NAV & Total Return History
WHYMX - Holdings
Concentration Analysis
| WHYMX | Category Low | Category High | WHYMX % Rank | |
|---|---|---|---|---|
| Net Assets | 139 M | 9.79 K | 15.6 B | 88.61% |
| Number of Holdings | 179 | 1 | 3325 | 81.59% |
| Net Assets in Top 10 | 22.7 M | -102 M | 3.51 B | 91.54% |
| Weighting of Top 10 | 13.93% | 4.6% | 98.8% | 44.00% |
Top 10 Holdings
- TENDER OPTION BOND TRUST RECEIPTS / CTFS VARIOUS STATES 1.84%
- W JEFFERSON AL INDL DEV BRD SOL WST DISP REVENUE 1.84%
- TEXAS ST PRIV ACTIVITY BOND SURFACE TRANSPRTN CORP REVENUE 1.41%
- BUILD NYC RESOURCE CORP NY REVENUE 1.38%
- INDIANA FIN AUTH EDUCTNL FACS REVENUE 1.28%
- HEMPSTEAD TOWN NY LOCAL DEV CORP EDU REVENUE 1.25%
- VIRGINIA SMALL BUSINESS FING AUTH PRIV ACTIVITY REVENUE SR 1.24%
- OHIO ST PRIVATE ACTIVITY REVENUE 1.23%
- TENDER OPTION BOND TRUST RECEIPTS / CTFS 1.23%
- LOS ANGELES CA DEPT OF WTR PWR WTRWKS REVENUE 1.23%
Asset Allocation
| Weighting | Return Low | Return High | WHYMX % Rank | |
|---|---|---|---|---|
| Bonds | 99.95% | 0.00% | 146.69% | 30.88% |
| Cash | 0.58% | -0.64% | 100.00% | 45.77% |
| Stocks | 0.00% | 0.00% | 99.62% | 77.45% |
| Preferred Stocks | 0.00% | -47.61% | 0.00% | 69.15% |
| Other | 0.00% | -5.59% | 5.07% | 66.67% |
| Convertible Bonds | 0.00% | 0.00% | 0.00% | 65.67% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | WHYMX % Rank | |
|---|---|---|---|---|
| Municipal | 92.90% | 0.00% | 100.00% | 87.56% |
| Cash & Equivalents | 0.58% | 0.00% | 100.00% | 30.35% |
| Derivative | 0.00% | -7.53% | 2.16% | 63.18% |
| Securitized | 0.00% | 0.00% | 22.44% | 66.67% |
| Corporate | 0.00% | 0.00% | 2.83% | 82.59% |
| Government | 0.00% | 0.00% | 0.09% | 67.66% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | WHYMX % Rank | |
|---|---|---|---|---|
| US | 99.95% | 0.00% | 139.84% | 28.86% |
| Non US | 0.00% | 0.00% | 13.35% | 69.15% |
WHYMX - Expenses
Operational Fees
| WHYMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.07% | 0.22% | 3.44% | 43.35% |
| Management Fee | 0.50% | 0.00% | 1.41% | 59.31% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 15.60% |
| Administrative Fee | 0.16% | 0.02% | 0.35% | 86.67% |
Sales Fees
| WHYMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 4.50% | 1.00% | 4.50% | 16.28% |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| WHYMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | N/A | N/A | 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.
| WHYMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 55.00% | 2.00% | 121.00% | 85.19% |
WHYMX - Distributions
Dividend Yield Analysis
| WHYMX | Category Low | Category High | WHYMX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 4.29% | 0.00% | 5.94% | 19.61% |
Dividend Distribution Analysis
| WHYMX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| WHYMX | Category Low | Category High | WHYMX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 3.74% | 1.11% | 5.44% | 20.10% |
Capital Gain Distribution Analysis
| WHYMX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Oct 31, 2024 | $0.034 | OrdinaryDividend |
| Sep 30, 2024 | $0.035 | OrdinaryDividend |
| Aug 30, 2024 | $0.036 | OrdinaryDividend |
| Jul 31, 2024 | $0.032 | OrdinaryDividend |
| Apr 30, 2024 | $0.037 | OrdinaryDividend |
| Mar 28, 2024 | $0.037 | OrdinaryDividend |
| Feb 28, 2024 | $0.037 | OrdinaryDividend |
| Jan 31, 2024 | $0.037 | OrdinaryDividend |
| Dec 29, 2023 | $0.036 | OrdinaryDividend |
| Nov 30, 2023 | $0.035 | OrdinaryDividend |
| Oct 31, 2023 | $0.034 | OrdinaryDividend |
| Sep 29, 2023 | $0.034 | OrdinaryDividend |
| Aug 31, 2023 | $0.033 | OrdinaryDividend |
| Jul 31, 2023 | $0.033 | OrdinaryDividend |
| Jun 30, 2023 | $0.033 | OrdinaryDividend |
| May 31, 2023 | $0.033 | OrdinaryDividend |
| Apr 28, 2023 | $0.032 | OrdinaryDividend |
| Mar 31, 2023 | $0.032 | OrdinaryDividend |
| Feb 28, 2023 | $0.034 | OrdinaryDividend |
| Jan 31, 2023 | $0.032 | OrdinaryDividend |
| Dec 29, 2022 | $0.033 | OrdinaryDividend |
| Nov 29, 2022 | $0.033 | OrdinaryDividend |
| Oct 28, 2022 | $0.032 | OrdinaryDividend |
| Sep 29, 2022 | $0.032 | OrdinaryDividend |
| Aug 30, 2022 | $0.033 | OrdinaryDividend |
| Jul 28, 2022 | $0.031 | OrdinaryDividend |
| Jun 29, 2022 | $0.029 | OrdinaryDividend |
| May 30, 2022 | $0.031 | OrdinaryDividend |
| Apr 28, 2022 | $0.033 | OrdinaryDividend |
| Mar 30, 2022 | $0.034 | OrdinaryDividend |
| Feb 25, 2022 | $0.032 | OrdinaryDividend |
| Jan 28, 2022 | $0.032 | OrdinaryDividend |
| Dec 31, 2021 | $0.032 | OrdinaryDividend |
| Dec 09, 2021 | $0.039 | CapitalGainShortTerm |
| Dec 09, 2021 | $0.001 | CapitalGainLongTerm |
| Nov 30, 2021 | $0.031 | OrdinaryDividend |
| Oct 31, 2021 | $0.032 | OrdinaryDividend |
| Sep 30, 2021 | $0.033 | OrdinaryDividend |
| Aug 31, 2021 | $0.033 | OrdinaryDividend |
| Jul 31, 2021 | $0.033 | OrdinaryDividend |
| Jun 30, 2021 | $0.035 | OrdinaryDividend |
| May 31, 2021 | $0.032 | OrdinaryDividend |
| Apr 30, 2021 | $0.031 | OrdinaryDividend |
| Mar 31, 2021 | $0.032 | OrdinaryDividend |
| Feb 28, 2021 | $0.032 | OrdinaryDividend |
| Jan 31, 2021 | $0.033 | OrdinaryDividend |
| Dec 31, 2020 | $0.036 | OrdinaryDividend |
| Nov 30, 2020 | $0.035 | OrdinaryDividend |
| Oct 30, 2020 | $0.035 | OrdinaryDividend |
| Sep 30, 2020 | $0.036 | OrdinaryDividend |
| Aug 31, 2020 | $0.035 | OrdinaryDividend |
| Jul 31, 2020 | $0.035 | OrdinaryDividend |
| Jun 30, 2020 | $0.038 | OrdinaryDividend |
| Feb 28, 2020 | $0.037 | OrdinaryDividend |
| Jan 31, 2020 | $0.036 | OrdinaryDividend |
| Dec 31, 2019 | $0.035 | OrdinaryDividend |
| Nov 29, 2019 | $0.038 | OrdinaryDividend |
| Oct 31, 2019 | $0.036 | OrdinaryDividend |
| Sep 30, 2019 | $0.034 | OrdinaryDividend |
| Aug 30, 2019 | $0.039 | OrdinaryDividend |
| Jul 31, 2019 | $0.036 | OrdinaryDividend |
| Jun 28, 2019 | $0.036 | OrdinaryDividend |
| Dec 09, 2016 | $0.032 | CapitalGainShortTerm |
| Dec 09, 2016 | $0.044 | CapitalGainLongTerm |
| Dec 11, 2015 | $0.035 | CapitalGainShortTerm |
| Dec 11, 2014 | $0.084 | CapitalGainShortTerm |
| Dec 11, 2014 | $0.002 | CapitalGainLongTerm |
| Dec 09, 2013 | $0.020 | CapitalGainShortTerm |
WHYMX - Fund Manager Analysis
Managers
Terry Goode
Start Date
Tenure
Tenure Rank
Jan 31, 2013
9.33
9.3%
Terry Goode is a senior portfolio manager for the Municipal Fixed Income team at Allspring Global Investments. He is responsible for managing national and state-specific mutual funds, insurance accounts, and separate accounts. Terry joined Allspring from its predecessor firm, Wells Fargo Asset Management (WFAM). Before this, he served as head of the WFAM Tax-Exempt Research team, leading the group responsible for providing credit research to the Municipal Fixed Income team. Prior to joining WFAM, Terry performed similar research duties and provided bond ratings as a director at Standard & Poor’s Credit Market Services. He held a similar position with Wells Fargo Bank’s health care division. Terry earned a bachelor’s degree in economics from the University of California, Los Angeles, and a master’s degree in business administration with an emphasis in finance and investment strategy from the Haas School of Business at the University of California, Berkeley. Terry is a member of the National Federation of Municipal Analysts and the Society of Municipal Analysts and served as former chair and member of the California Society of Municipal Analysts.
Dennis Derby
Start Date
Tenure
Tenure Rank
Jan 31, 2013
9.33
9.3%
Mr. Derby joined Wells Capital Management or one of its predecessor firms in 1995, where he currently serves as a Senior Research Analyst and Portfolio Manager with the Tax- Exempt Fixed-Income team.
Kerry Laurin
Start Date
Tenure
Tenure Rank
Sep 01, 2020
1.75
1.8%
Ms. Laurin joined Wells Capital Management or one of its predecessor firms in 2016, where she currently serves as a Senior Analyst. Prior to joining WFAM, she was as a research analyst for Heartland Advisors where she covered taxable fixed income, consumer, and utility equity sectors.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.25 | 21.43 | 7.55 | 2.52 |