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 9.57  /  +0.10 %
  • Total Assets 1.2B
  • 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 2.85%
  • Effective Duration 0.83 years

USD | NAV as of Oct 02, 2026 | 1-Day Return as of Oct 02, 2026, 12:15 AM 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.

The core group remains intact, despite the team changes.

Analyst Ken Noguchi

Ken Noguchi

Analyst

Summary

Allspring Ultra Short-Term Municipal Income’s experienced leadership remains a key strength as the supporting team grapples with changes.

by Ken Noguchi
Rated on 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 11.7
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

CONNECTICUT ST HEALTH & EDL FACS AUTH REV 2.9%

1.70 20M
municipal

CONNECTICUT ST HEALTH & EDL FACS AUTH REV 2.28%

1.34 16M
municipal

PORT PORT ARTHUR TEX NAV DIST ENVIRONMENTAL FACS REV 2.5%

1.26 15M
municipal

J P MORGAN CHASE PUTTERS / DRIVERS TR VAR STS 2.48%

1.26 15M
municipal

NEW YORK ST HSG FIN AGY REV 3%

1.25 15M
municipal

CONNECTICUT ST HEALTH & EDL FACS AUTH REV 2.28%

1.18 14M
municipal

MAIN STR NAT GAS INC GA GAS SUPPLY REV 4%

1.01 12M
municipal

NEW JERSEY HEALTH CARE FACS FING AUTH 2.2%

1.01 12M
municipal

PHILADELPHIA PA SCH DIST 5%

0.91 11M
municipal

TENDER OPT BD TR RCPTS / CTFS VAR STS 3.15%

0.89 11M
municipal

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