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Trending ETFs

Allspring High Yield Municipal Bond Fund

mutual fund
EKHRX
Payout Change
Pending
Price as of:
$9.58 +0.01 +0.1%
primary theme
High Yield Municipal Bond
EKHRX (Mutual Fund)

Allspring High Yield Municipal Bond Fund

Payout Change
Pending
Price as of:
$9.58 +0.01 +0.1%
primary theme
High Yield Municipal Bond
EKHRX (Mutual Fund)

Allspring High Yield Municipal Bond Fund

Payout Change
Pending
Price as of:
$9.58 +0.01 +0.1%
primary theme
High Yield Municipal Bond

Name

As of 06/14/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$9.58

$139 M

0.15%

$0.01

0.70%

Vitals

YTD Return

3.2%

1 yr return

6.4%

3 Yr Avg Return

-0.7%

5 Yr Avg Return

1.4%

Net Assets

$139 M

Holdings in Top 10

14.2%

52 WEEK LOW AND HIGH

$9.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.70%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 55.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/14/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$9.58

$139 M

0.15%

$0.01

0.70%

EKHRX - Profile

Distributions

  • YTD Total Return 3.2%
  • 3 Yr Annualized Total Return -0.7%
  • 5 Yr Annualized Total Return 1.4%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 4.07%
DIVIDENDS
  • Dividend Yield 0.2%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Allspring High Yield Municipal Bond Fund
  • Fund Family Name
    Allspring Funds
  • Inception Date
    Jul 31, 2018
  • Shares Outstanding
    N/A
  • Share Class
    R6
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Dennis Derby

Fund Description

Under normal circumstances, we invest:
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”);
up to 20% of the Fund’s total assets in securities whose interest is subject to  federal AMT;
at least 50% of the Fund’s total assets in municipal securities rated BBB and below  or comparable unrated municipal securities; and
up to 20% of the Fund’s total assets in inverse floaters.
We invest principally in municipal securities of states, territories and possessions of the United States whose interest is exempt from federal income tax, but not necessarily federal AMT. A substantial portion of the securities will be rated BBB and below or unrated and deemed by us to be of comparable quality. Securities rated BB and below are often called “high yield” securities or “junk bonds”. We may invest in municipal debt of any credit quality. We may also invest a portion of the Fund’s total assets in securities whose interest is subject to federal AMT. We may use futures for duration and yield curve management. While we  may purchase securities of any maturity, under normal circumstances,  we expect the Fund’s dollar-weighted average effective maturity to be between 3 and 20 years. “Dollar-weighted average effective maturity” is a measure of the average time until the final payment of principal and interest is due on fixed income securities in the Fund’s portfolio.
We may invest up to 20% of the Fund’s total assets in inverse floaters to seek enhanced returns. Inverse floaters are derivative debt instruments created by depositing a municipal security in a trust. Inverse floaters pay interest at rates that generally vary inversely with specified short-term interest rates and involve leverage. We intend to limit leverage created by the Fund’s investments in inverse floaters to an amount equal to 20% of the Fund’s total assets.
We use a combination of top-down and bottom-up research to cover the four main elements of total return: duration management, yield curve positioning, sector and credit quality allocation, and security selection. Our top-down analysis involves an evaluation of macroeconomic factors that may include, among others, the pace of economic growth, employment conditions, inflation, and monetary and fiscal policy. Our bottom-up analysis, which involves intensive research into the credit fundamentals of individual issuers and the relative value of individual issues, is used to uncover solid investment opportunities. Securities are selected based on several factors, including, among others, improving financial trends, positive industry and sector dynamics, improving economic conditions, and specific demographic trends. Securities may be sold based on relative value considerations and could be replaced with a security that presents a better value or risk/reward profile. A security may also be sold due to changes in credit characteristics or outlook, as well as changes in portfolio strategy or cash flow needs.
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EKHRX - Performance

Return Ranking - Trailing

Period EKHRX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.2% -2.0% 8.0% 60.58%
1 Yr 6.4% -4.0% 11.6% 61.54%
3 Yr -0.7%* -9.5% 2.0% 17.73%
5 Yr 1.4%* -4.8% 526.3% 40.40%
10 Yr N/A* 0.1% 155.7% N/A

* Annualized

Return Ranking - Calendar

Period EKHRX Return Category Return Low Category Return High Rank in Category (%)
2023 1.8% -6.2% 7.5% 70.67%
2022 -15.4% -26.9% -3.5% 22.44%
2021 1.2% -1.9% 5.6% 73.27%
2020 -2.1% -10.1% 4.2% 91.00%
2019 5.1% -0.7% 9.1% 52.06%

Total Return Ranking - Trailing

Period EKHRX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.2% -2.0% 8.0% 60.58%
1 Yr 6.4% -4.0% 11.6% 61.54%
3 Yr -0.7%* -9.5% 2.0% 17.73%
5 Yr 1.4%* -4.8% 526.3% 40.40%
10 Yr N/A* 0.1% 155.7% N/A

* Annualized

Total Return Ranking - Calendar

Period EKHRX Return Category Return Low Category Return High Rank in Category (%)
2023 6.7% -4.1% 10.9% 55.77%
2022 -11.5% -26.9% 4.3% 20.98%
2021 5.8% -1.9% 10.0% 39.11%
2020 1.6% -4.1% 8.2% 80.00%
2019 10.0% -0.7% 1028633.9% 22.68%

NAV & Total Return History


EKHRX - Holdings

Concentration Analysis

EKHRX Category Low Category High EKHRX % Rank
Net Assets 139 M 9.79 K 16.1 B 87.86%
Number of Holdings 167 1 3076 83.41%
Net Assets in Top 10 20.2 M -102 M 3.63 B 90.73%
Weighting of Top 10 14.24% 4.7% 99.9% 51.96%

Top 10 Holdings

  1. TEXAS ST PRIV ACTIVITY BOND SURFACE TRANSPRTN CORP REVENUE 1.60%
  2. BUILD NYC RESOURCE CORP NY REVENUE 1.51%
  3. INDIANA FIN AUTH EDUCTNL FACS REVENUE 1.47%
  4. VIRGINIA SMALL BUSINESS FING AUTH PRIV ACTIVITY REVENUE SR 1.42%
  5. IOWA ST FIN AUTH REVENUE 1.41%
  6. HEMPSTEAD TOWN NY LOCAL DEV CORP EDU REVENUE 1.41%
  7. OHIO ST PRIVATE ACTIVITY REVENUE 1.40%
  8. MARYLAND ST ECON DEV CORP PRIV ACTIVITY REVENUE 1.40%
  9. CAPITAL TRUST AGY FL EDUCTNL FACS REVENUE 1.38%
  10. NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE 1.24%

Asset Allocation

Weighting Return Low Return High EKHRX % Rank
Bonds
99.36% 0.00% 146.69% 29.81%
Cash
1.23% -0.64% 100.00% 42.93%
Stocks
0.00% 0.00% 99.33% 76.44%
Preferred Stocks
0.00% -47.61% 1.64% 71.71%
Other
0.00% -8.76% 9.96% 66.83%
Convertible Bonds
0.00% 0.00% 0.00% 72.20%

Bond Sector Breakdown

Weighting Return Low Return High EKHRX % Rank
Municipal
92.90% 0.00% 100.00% 87.32%
Cash & Equivalents
1.23% 0.00% 100.00% 31.22%
Derivative
0.00% -8.76% 1.55% 63.41%
Securitized
0.00% 0.00% 22.44% 72.20%
Corporate
0.00% 0.00% 2.83% 87.32%
Government
0.00% 0.00% 0.09% 72.68%

Bond Geographic Breakdown

Weighting Return Low Return High EKHRX % Rank
US
99.36% 0.00% 139.84% 25.37%
Non US
0.00% 0.00% 13.35% 73.66%

EKHRX - Expenses

Operational Fees

EKHRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.70% 0.21% 3.44% 75.85%
Management Fee 0.50% 0.00% 1.41% 55.29%
12b-1 Fee 0.00% 0.00% 1.00% 13.51%
Administrative Fee 0.03% 0.02% 0.35% 3.28%

Sales Fees

EKHRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 4.50% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

EKHRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

EKHRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 55.00% 2.00% 121.00% 84.82%

EKHRX - Distributions

Dividend Yield Analysis

EKHRX Category Low Category High EKHRX % Rank
Dividend Yield 0.15% 0.00% 6.13% 10.58%

Dividend Distribution Analysis

EKHRX Category Low Category High Category Mod
Dividend Distribution Frequency None Monthly Monthly Monthly

Net Income Ratio Analysis

EKHRX Category Low Category High EKHRX % Rank
Net Income Ratio 4.07% 1.11% 5.70% 10.10%

Capital Gain Distribution Analysis

EKHRX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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EKHRX - Fund Manager Analysis

Managers

Dennis Derby


Start Date

Tenure

Tenure Rank

Jan 31, 2013

9.33

9.3%

Mr. Derby joined Wells Capital Management or one of its predecessor firms in 1995, where he currently serves as a Senior Research Analyst and Portfolio Manager with the Tax- Exempt Fixed-Income team.

Terry Goode


Start Date

Tenure

Tenure Rank

Jan 31, 2013

9.33

9.3%

Terry Goode is a senior portfolio manager for the Municipal Fixed Income team at Allspring Global Investments. He is responsible for managing national and state-specific mutual funds, insurance accounts, and separate accounts. Terry joined Allspring from its predecessor firm, Wells Fargo Asset Management (WFAM). Before this, he served as head of the WFAM Tax-Exempt Research team, leading the group responsible for providing credit research to the Municipal Fixed Income team. Prior to joining WFAM, Terry performed similar research duties and provided bond ratings as a director at Standard & Poor’s Credit Market Services. He held a similar position with Wells Fargo Bank’s health care division. Terry earned a bachelor’s degree in economics from the University of California, Los Angeles, and a master’s degree in business administration with an emphasis in finance and investment strategy from the Haas School of Business at the University of California, Berkeley. Terry is a member of the National Federation of Municipal Analysts and the Society of Municipal Analysts and served as former chair and member of the California Society of Municipal Analysts.

Kerry Laurin


Start Date

Tenure

Tenure Rank

Sep 01, 2020

1.75

1.8%

Ms. Laurin joined Wells Capital Management or one of its predecessor firms in 2016, where she currently serves as a Senior Analyst. Prior to joining WFAM, she was as a research analyst for Heartland Advisors where she covered taxable fixed income, consumer, and utility equity sectors.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.06 21.43 7.46 2.52