abrdn Ultra Short Municipal Income Fund Institutional Class ATOIX

Medalist Rating as of Sep 30, 2026 See abrdn Investment Hub

NAV / 1-Day Return$10.02 / 0.00
Fund Size$1.3B
Adjusted Expense Ratio0.450%
Net Expense Ratio0.450%
Fee Level: DistributionAbove Average
Share Class TypeInstitutional
Morningstar CategoryMuni National Short
Fixed-Income Style Box (Funds)Medium/Limited
Minimum Initial Investment$1M
Investment StatusOpen
TTM Yield2.65%
Average Effective Duration0.14 yrs

NAV and 1-Day Return as of Nov 12, 2026, 1:11:03 AM

Will ATOIX outperform in the future?

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Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable ATOIX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the ATOIX 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 ATOIX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Ultrashort muni niche lacks a clear edge.

Joe Bullard

Associate Analyst

Summary

Aberdeen Ultra Short Municipal Income’s lean team runs a straightforward ultrashort municipal bond approach that has not proved its edge across a market cycle.

by Joe Bullard

Rated on Sep 30, 2026 Published on Sep 30, 2026

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Portfolio Holdings ATOIX

More ATOIX Holdings

Current Portfolio DateSep 30, 2026
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 3.8%	4.56	53M	municipal
MARYLAND INDL DEV FING AUTH PORT FACS REV 4.63%	4.31	50M	municipal
HARRIS CNTY TEX CULTURAL ED FACS FIN CORP MED FACS REV 3.12%	3.76	44M	municipal
JOHNSON CITY N Y 4%	2.38	28M	Cash and Equivalents
FLORIDA INS ASSISTANCE INTERLOCAL AGY FLA INS ASSMT REV 3.41%	2.33	27M	municipal
PENNSYLVANIA ST HIGHER EDL FACS AUTH REV 3.48%	2.29	27M	municipal
Usd Cash	2.21	26M	Cash and Equivalents
Cash	2.21	26M	Cash and Equivalents
PEFA INC IOWA GAS PROJ REV 5%	2.20	26M	municipal
IOWA FIN AUTH SOLID WASTE DISP REV 2.85%	2.19	25M	municipal

abrdn Ultra Short Municipal Income Fund Institutional Class ATOIX

Morningstar’s Analysis ATOIX

Will ATOIX outperform in the future?

Process Pillar

People Pillar

Parent Pillar

Ultrashort muni niche lacks a clear edge.

Summary

Portfolio Holdings ATOIX

MISSISSIPPI BUSINESS FIN CORP MISS REV 3.8%

MARYLAND INDL DEV FING AUTH PORT FACS REV 4.63%

HARRIS CNTY TEX CULTURAL ED FACS FIN CORP MED FACS REV 3.12%

JOHNSON CITY N Y 4%

FLORIDA INS ASSISTANCE INTERLOCAL AGY FLA INS ASSMT REV 3.41%

PENNSYLVANIA ST HIGHER EDL FACS AUTH REV 3.48%

Usd Cash

Cash

PEFA INC IOWA GAS PROJ REV 5%

IOWA FIN AUTH SOLID WASTE DISP REV 2.85%

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