Morningstar

abrdn Ultra Short Municipal Income Fund Class A ATOAX

Morningstar Medalist Rating
Medalist Rating as of | See abrdn Investment Hub
  • NAV / 1-Day Return 10.09  /  0.00
  • Total Assets 1.1B
  • Adj. Expense Ratio
    0.700%
  • Expense Ratio 0.700%
  • Distribution Fee Level High
  • Share Class Type No Load
  • Category Muni National Short
  • Credit Quality / Interest Rate Sensitivity Medium/Limited
  • Min. Initial Investment 1,000
  • Status Open
  • TTM Yield 2.45%
  • Effective Duration 0.11 years

USD | NAV as of Jul 14, 2026 | 1-Day Return as of Jul 14, 2026, 12:11 AM GMT+0

Morningstar’s Analysis ATOAX

Will ATOAX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable ATOAX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the ATOAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of ATOAX’s parent organization’s priorities and whether they’re in line with investors’ interests.

A focused muni offering without a clear edge versus peers.

Associate Analyst Joe Bullard

Joe Bullard

Associate Analyst

Summary

Abrdn Ultra Short Municipal Income is driven by experienced managers, but its ultrashort mandate and a relatively small team dedicated to municipals, combined with an industry-standard approach, don’t make it a standout.

by Joe Bullard
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Portfolio Holdings ATOAX

More ATOAX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings —
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

MISSISSIPPI BUSINESS FIN CORP MISS REV 3.54%

4.45 53M
municipal

MARYLAND INDL DEV FING AUTH PORT FACS REV 4.51%

4.21 50M
municipal

HARRIS CNTY TEX CULTURAL ED FACS FIN CORP MED FACS REV 2.87%

3.67 44M
municipal

MISSISSIPPI BUSINESS FIN CORP MISS SOLID WASTE DISP FAC & WASTEWATER FAC RE

2.51 30M
municipal

J P MORGAN CHASE PUTTERS / DRIVERS TR VAR STS 3.07%

2.39 28M
municipal

PENNSYLVANIA ST HIGHER EDL FACS AUTH REV 3.23%

2.24 27M
municipal

IOWA FIN AUTH SOLID WASTE DISP REV 2.53%

2.14 25M
municipal

PEFA INC IOWA GAS PROJ REV 5%

2.13 25M
municipal

FLORIDA INS ASSISTANCE INTERLOCAL AGY FLA INS ASSMT REV 3.16%

2.13 25M
municipal

HEALTH CARE AUTH FOR BAPTIST HEALTH ALA 3.8%

2.11 25M
municipal

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