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Allspring Ultra Short-Term Municipal Income Fund (...
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Allspring Ultra Short-Term Municipal Income Fund (SMAIX)

Mutual Fund · Currency in USD · Last updated May 30, 2025

The investment seeks current income exempt from federal income tax, consistent with capital preservation. The fund normally invests at least 80% of the fund's net assets in municipal securities whose interest is exempt from federal income tax, but not necessarily federal alternative minimum tax (AMT). It invests up to 20% of the fund's total assets in securities whose interest is subject to federal AMT. While the fund may purchase securities of any maturity, under normal circumstances, the advisor expects the fund's dollar-weighted average effective maturity to be 1 year or less.

Fund Info

ISIN

US9499177023

CUSIP

949917702

Issuer

Allspring Global Investments

Inception Date

Jul 30, 2000

Category

Municipal Bonds

Min. Investment

$1,000,000

Asset Class

Bond

Expense Ratio

SMAIX has an expense ratio of 0.25%, which is considered low.

Share Price Chart

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Compare to other instruments

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Allspring Ultra Short-Term Municipal Income Fund

Performance

Performance Chart

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S&P 500

Returns By Period

Allspring Ultra Short-Term Municipal Income Fund (SMAIX) returned 1.23% year-to-date (YTD) and 4.35% over the past 12 months. Over the past 10 years, SMAIX returned 1.58% annually, underperforming the S&P 500 benchmark at 10.84%.

SMAIX

YTD

1.23%

1M

0.48%

6M

1.29%

1Y

4.35%

3Y*

3.43%

5Y*

2.08%

10Y*

1.58%

^GSPC (Benchmark)

YTD

0.52%

1M

6.32%

6M

-1.44%

1Y

12.25%

3Y*

12.45%

5Y*

14.20%

10Y*

10.84%

*Annualized

Monthly Returns

The table below presents the monthly returns of SMAIX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
20250.45%0.35%0.16%0.06%0.21%1.23%
20240.46%0.23%0.42%0.48%0.22%0.76%0.81%0.46%0.35%0.04%0.35%0.05%4.73%
20230.68%-0.37%0.68%-0.06%0.04%0.49%0.28%0.08%-0.10%0.34%0.96%0.55%3.61%
2022-0.49%-0.17%-0.43%-0.31%0.46%-0.02%0.51%-0.42%-0.52%0.13%0.78%0.14%-0.35%
20210.16%-0.01%0.09%0.05%0.04%0.09%0.15%-0.04%-0.07%-0.10%0.06%0.03%0.45%
20200.22%0.11%-0.47%-0.06%0.52%0.20%0.19%0.06%0.06%0.06%0.17%0.05%1.12%
20190.24%0.14%0.24%0.15%0.25%0.15%0.24%0.14%0.03%0.24%0.12%0.12%2.07%
20180.10%0.10%0.00%0.02%0.22%0.22%0.21%0.02%0.02%0.03%0.24%0.24%1.44%
20170.18%0.08%0.07%0.19%0.19%0.08%0.09%0.18%0.07%0.08%-0.13%0.09%1.20%
20160.16%-0.04%-0.05%0.17%0.06%0.17%0.06%0.06%-0.14%0.07%-0.46%-0.02%0.04%
20150.04%0.04%0.04%-0.17%0.10%-0.05%0.16%0.05%0.06%0.16%-0.05%0.07%0.46%
20140.06%0.06%0.04%0.06%0.06%0.04%0.04%0.04%0.04%0.04%0.04%0.06%0.60%
Go deeper with the Portfolio Analysis tool — backtest performance, assess risk, compare to benchmarks, and more

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

With an overall rank of 98, SMAIX is among the top 2% of mutual funds on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.

The Risk-Adjusted Performance Rank of SMAIX is 9898
Overall Rank
The Sharpe Ratio Rank of SMAIX is 9898
Sharpe Ratio Rank
The Sortino Ratio Rank of SMAIX is 9898
Sortino Ratio Rank
The Omega Ratio Rank of SMAIX is 9999
Omega Ratio Rank
The Calmar Ratio Rank of SMAIX is 9898
Calmar Ratio Rank
The Martin Ratio Rank of SMAIX is 9898
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

Risk-Adjusted Performance Indicators

The charts below present risk-adjusted performance metrics for Allspring Ultra Short-Term Municipal Income Fund (SMAIX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.

The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.

Allspring Ultra Short-Term Municipal Income Fund Sharpe ratios as of May 30, 2025 (values are recalculated daily):

  • 1-Year: 3.46
  • 5-Year: 2.18
  • 10-Year: 1.87
  • All Time: 1.98

These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns (including price changes and dividends).

The chart below shows the rolling Sharpe ratio of Allspring Ultra Short-Term Municipal Income Fund compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.

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Go to the full Sharpe Ratio tool to analyze any stock or portfolio. Customize time frames, set your own risk-free rate, and more

Dividends

Dividend History

Allspring Ultra Short-Term Municipal Income Fund provided a 3.42% dividend yield over the last twelve months, with an annual payout of $0.33 per share. The fund has been increasing its distributions for 3 consecutive years.

0.50%1.00%1.50%2.00%2.50%3.00%3.50%4.00%$0.00$0.10$0.20$0.30$0.4020142015201620172018201920202021202220232024
Dividends
Dividend Yield
PeriodTTM20242023202220212020201920182017201620152014
Dividend$0.33$0.38$0.21$0.12$0.06$0.11$0.16$0.14$0.09$0.07$0.06$0.06

Dividend yield

3.42%3.98%2.16%1.22%0.67%1.12%1.62%1.45%0.98%0.77%0.66%0.60%

Monthly Dividends

The table displays the monthly dividend distributions for Allspring Ultra Short-Term Municipal Income Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
2025$0.02$0.02$0.02$0.03$0.00$0.10
2024$0.04$0.02$0.04$0.05$0.02$0.04$0.05$0.02$0.02$0.02$0.02$0.03$0.38
2023$0.01$0.02$0.01$0.01$0.01$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.21
2022$0.00$0.00$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.12
2021$0.01$0.01$0.00$0.00$0.01$0.00$0.01$0.00$0.00$0.00$0.00$0.00$0.06
2020$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.11
2019$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.16
2018$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.14
2017$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.09
2016$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.07
2015$0.00$0.00$0.00$0.00$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.06
2014$0.01$0.01$0.00$0.01$0.01$0.00$0.00$0.00$0.00$0.00$0.00$0.01$0.06

Drawdowns

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

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Worst Drawdowns

The table below displays the maximum drawdowns of the Allspring Ultra Short-Term Municipal Income Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Allspring Ultra Short-Term Municipal Income Fund was 1.87%, occurring on Mar 20, 2020. Recovery took 70 trading sessions.

Depth

Start

To Bottom

Bottom

To Recover

End

Total

-1.87%Mar 10, 20209Mar 20, 202070Jun 30, 202079
-1.65%Aug 6, 2021290Sep 27, 202282Jan 25, 2023372
-1.09%Sep 16, 200819Oct 10, 200834Nov 28, 200853
-0.84%Feb 13, 200811Feb 28, 200821Mar 31, 200832
-0.83%Nov 18, 20041Nov 18, 200453Feb 4, 200554
Go to the full Drawdowns tool for more analysis options, including inflation-adjusted drawdowns, and more

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.

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