Morningstar

Allspring Ultra Short-Term Municipal Income Fund - Class Inst SMAIX

Morningstar Medalist Rating
Medalist Rating as of | See Allspring Investment Hub
  • NAV / 1-Day Return 9.68  /  0.00
  • Total Assets 1.1B
  • Adj. Expense Ratio
    0.250%
  • Expense Ratio 0.250%
  • Distribution Fee Level Low
  • Share Class Type Institutional
  • Category Muni National Short
  • Credit Quality / Interest Rate Sensitivity Medium/Limited
  • Min. Initial Investment 1M
  • Status Open
  • TTM Yield 2.91%
  • Effective Duration 0.83 years

USD | NAV as of Jun 16, 2026 | 1-Day Return as of Jun 16, 2026, 10:09 PM GMT+0

Morningstar’s Analysis SMAIX

Will SMAIX 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 SMAIX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the SMAIX 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 SMAIX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Allspring Announces Pending Municipal Team Changes on Allspring Short-Term Municipal Bond and Allspring Ultra Short-Term Municipal Income; Ratings Unchanged.

null Ken Noguchi

Ken Noguchi

Analyst Note

Allspring announced on Sept. 4, 2025, that some municipal team members will depart at year-end, and existing managers have stepped in to assume their fund management responsibilities. This comes after the firm’s announcement to close its San Francisco-based municipal operations later this year and consolidate its efforts in Milwaukee. These changes do not alter the fund’s pillar ratings or its overall Morningstar Medalist Ratings.

by Ken Noguchi
Published on

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Portfolio Holdings SMAIX

More SMAIX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 12.3
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

NEW YORK ST HSG FIN AGY REV 3%

1.87 20M
municipal

WISCONSIN ST HEALTH & EDL FACS AUTH REV 5%

1.72 18M
municipal

PORT PORT ARTHUR TEX NAV DIST ENVIRONMENTAL FACS REV 1.77%

1.40 15M
municipal

J P MORGAN CHASE PUTTERS / DRIVERS TR VAR STS 1.77%

1.40 15M
municipal

ROSWELL GA HSG AUTH MULTIFAMILY REV 1.67%

1.18 13M
municipal

MAIN STR NAT GAS INC GA GAS SUPPLY REV 4%

1.12 12M
municipal

TENDER OPT BD TR RCPTS / CTFS VAR STS 2.95%

0.99 11M
municipal

LOS ANGELES CALIF 5%

0.94 10M
Cash and Equivalents

CONNECTICUT ST HSG FIN AUTH HSG MTG FIN PROG 2.85%

0.93 10M
municipal

INDIANA ST FIN AUTH ENVIRONMENTAL REV 2.85%

0.85 9M
municipal

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