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Wells Fargo Ultra Shrt-Term Muni IncInst SMAIX

Analyst rating as of
NAV / 1-Day Return
9.59  /  0.00 %
Total Assets
1.9 Bil
Adj. Expense Ratio
0.250%
Expense Ratio
0.250%
Fee Level
Low
Longest Manager Tenure
14.54 years
Category
Credit Quality / Interest Rate Sensitivity
Medium / Limited
Min. Initial Investment
1,000,000
Status
Open
TTM Yield
1.52%
Effective Duration
0.67 years
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Morningstar’s Analysis

Will SMAIX outperform in future?

Get our overall rating based on a fundamental assessment of the pillar’s below.

A notable loss in leadership.

Summary

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Wells Fargo Ultra Short-Term Municipal Income retains a deep and experienced team, but as the remaining group charts its own course in the wake of longtime muni manager Lyle Fitterer’s departure, there is not yet evidence that this process will outperform going forward, leading to a downgrade of its Process Pillar to Average from Above Average. The strategy’s cheaper share classes are downgraded to a Morningstar Analyst Rating of Neutral, while its most expensive share class is rated Negative.

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