Wells Fargo Ultra Short-Term Municipal Income’s team is sizable and experienced, but the approach employs myriad levers, which challenges repeatability in the hands of a recently reshuffled management group. The strategy’s cheaper share classes earn a Neutral Morningstar Analyst Rating, while its priciest share class is rated Negative.
Will SMAIX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
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.
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.
The Parent Pillar is our rating of SMAIX’s parent organization’s priorities and whether they’re in line with investors’ interests.