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Morningstar

Allspring Ultra Shrt-Term Muni Inc A SMAVX

Morningstar Medalist Rating
Medalist Rating as of | See Allspring Investment Hub
  • NAV / 1-Day Return 9.46  /  0.11 %
  • Total Assets 886.8 Mil
  • Adj. Expense Ratio
    0.500%
  • Expense Ratio 0.500%
  • Distribution Fee Level Low
  • Share Class Type Front Load
  • Category Muni National Short
  • Credit Quality / Interest Rate Sensitivity Medium / Limited
  • Min. Initial Investment 1,000
  • Status Open
  • TTM Yield 1.22%
  • Effective Duration 0.85 years

USD | NAV as of May 30, 2023 | 1-Day Return as of May 30, 2023, 11:49 PM GMT+0

Morningstar’s Analysis SMAVX

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

People Pillar

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

A refreshed leadership group charts its own course.

Senior Analyst R.J. D'Ancona

R.J. D'Ancona

Senior Analyst

Summary

Allspring 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 Morningstar Analyst Rating of Neutral, while its priciest share class earns a Negative.

by R.J. D'Ancona
Rated on Published on

Unlock our full analysis with Morningstar Investor

Portfolio Holdings SMAVX

More SMAVX Holdings
  • Current Portfolio Date Apr 30, 2023
  • Equity Holdings 0
  • Bond Holdings 349
  • Other Holdings 42
  • % Assets in Top 10 Holdings 14.9
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

DISTRICT COLUMBIA HSG FIN AGY MULTI-FAMILY HSG REV 0.7%

2.18
19,933,736
municipal

REGIONAL TRANSN AUTH ILL EXTENDIBLE RESET SECS 4.35%

1.92
17,585,000
municipal

MARYLAND ST CMNTY DEV ADMIN DEPT HSG & CMNTY DEV 0.8%

1.61
14,792,256
municipal

HEALTH CARE AUTH FOR BAPTIST HEALTH ALA 5.21%

1.58
14,500,000
municipal

FAIRFAX CNTY VA REDEV & HSG AUTH MULTI-FAMILY HSG REV 1.25%

1.57
14,372,924
municipal

INDIANA ST FIN AUTH REV 5%

1.57
14,350,892
municipal

CAPITAL TR AGY FLA HSG REV 1.25%

1.53
14,000,000
municipal

CALIFORNIA INFRASTRUCTURE & ECONOMIC DEV BK REV 3.65%

1.31
11,973,472
municipal

CAPITAL TR AGY FLA HSG REV 1.5%

1.13
10,370,900
municipal

NEW JERSEY ECONOMIC DEV AUTH REV 5.25%

1.10
10,051,978
municipal