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Trending ETFs

Allspring Pennsylvania Tax-Free Fund

mutual fund
EKVAX
Payout Change
Pending
Price as of:
$10.9 +0.0 +0.0%
primary theme
Municipal Bond
EKVAX (Mutual Fund)

Allspring Pennsylvania Tax-Free Fund

Payout Change
Pending
Price as of:
$10.9 +0.0 +0.0%
primary theme
Municipal Bond
EKVAX (Mutual Fund)

Allspring Pennsylvania Tax-Free Fund

Payout Change
Pending
Price as of:
$10.9 +0.0 +0.0%
primary theme
Municipal Bond

Name

As of 12/04/2024

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

$10.90

$96 M

3.02%

$0.33

0.98%

Vitals

YTD Return

4.1%

1 yr return

5.7%

3 Yr Avg Return

-0.1%

5 Yr Avg Return

1.0%

Net Assets

$96 M

Holdings in Top 10

20.1%

52 WEEK LOW AND HIGH

$10.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.98%

SALES FEES

Front Load 4.50%

Deferred Load N/A

TRADING FEES

Turnover 21.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

$250


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 12/04/2024

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

$10.90

$96 M

3.02%

$0.33

0.98%

EKVAX - Profile

Distributions

  • YTD Total Return 4.1%
  • 3 Yr Annualized Total Return -0.1%
  • 5 Yr Annualized Total Return 1.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.64%
DIVIDENDS
  • Dividend Yield 3.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Allspring Pennsylvania Tax-Free Fund
  • Fund Family Name
    Allspring Funds
  • Inception Date
    Dec 27, 1990
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Robert Miller

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, including federal alternative minimum tax (AMT), and Pennsylvania individual income tax;
up to 20% of the Fund’s net assets in securities whose interest is subject to federal income tax, including federal AMT;
up to 10% of the Fund’s total assets in below investment-grade municipal securities; and
up to 10% of the Fund’s total assets in inverse floaters.
We invest principally in municipal securities whose interest is exempt from federal income tax, including federal AMT, and Pennsylvania individual income tax. Our investment holdings may include municipal securities issued by the Commonwealth of Pennsylvania and its subdivisions, authorities, instrumentalities and corporations, as well as municipal securities issued by the territories and possessions of the United States. Some of the securities may be below investment grade or may be unrated and deemed by us to be of comparable quality. We may also invest a portion of the Fund’s net assets in securities whose interest is subject to federal income tax, including  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.
We may invest up to 10% 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 investment in inverse floaters to an amount equal to 10% 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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EKVAX - Performance

Return Ranking - Trailing

Period EKVAX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.1% -4.7% 38.6% 23.98%
1 Yr 5.7% -2.4% 46.4% 38.48%
3 Yr -0.1%* -10.3% 6.8% 45.56%
5 Yr 1.0%* -6.5% 1104.9% 50.63%
10 Yr 2.1%* -0.9% 249.0% 32.82%

* Annualized

Return Ranking - Calendar

Period EKVAX Return Category Return Low Category Return High Rank in Category (%)
2023 2.2% -1.4% 41.0% 68.75%
2022 -11.4% -39.7% 0.3% 49.08%
2021 -0.3% -5.6% 6.9% 40.21%
2020 0.8% -2.6% 310.0% 84.52%
2019 3.3% 0.0% 26.0% 68.90%

Total Return Ranking - Trailing

Period EKVAX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.1% -4.7% 38.6% 23.98%
1 Yr 5.7% -2.4% 46.4% 38.48%
3 Yr -0.1%* -10.3% 6.8% 45.56%
5 Yr 1.0%* -6.5% 1104.9% 50.63%
10 Yr 2.1%* -0.9% 249.0% 32.82%

* Annualized

Total Return Ranking - Calendar

Period EKVAX Return Category Return Low Category Return High Rank in Category (%)
2023 5.3% -1.3% 41.0% 59.39%
2022 -8.8% -39.7% 1.1% 43.34%
2021 2.4% -4.8% 23761504.0% 29.28%
2020 3.4% -1.5% 17057.9% 63.59%
2019 6.9% 0.2% 3514.6% 40.82%

NAV & Total Return History


EKVAX - Holdings

Concentration Analysis

EKVAX Category Low Category High EKVAX % Rank
Net Assets 96 M 3.22 M 71.9 B 86.56%
Number of Holdings 120 4 13418 77.97%
Net Assets in Top 10 19 M -317 M 3.09 B 88.85%
Weighting of Top 10 20.12% 1.8% 100.3% 40.46%

Top 10 Holdings

  1. PHILADELPHIA PA 2.65%
  2. BUCKS CNTY PA WTR SWR AUTH SWR SYS REVENUE 2.56%
  3. PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE 2.14%
  4. HUNTINGDON CNTY PA GEN AUTH REVENUE 2.12%
  5. ALLEGHENY CNTY PA HOSP DEV AUTH 1.84%
  6. S ESTRN PA TRANSPRTN AUTH 1.79%
  7. INTERBORO PA SCH DIST 1.78%
  8. PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE 1.77%
  9. PENNSYLVANIA ST ECON DEV FING AUTH REVENUE 1.77%
  10. LEHIGH CNTY AUTH WTR SWR REVENUE 1.70%

Asset Allocation

Weighting Return Low Return High EKVAX % Rank
Bonds
98.89% 0.00% 150.86% 52.62%
Cash
1.11% -50.86% 44.62% 48.09%
Stocks
0.00% 0.00% 99.78% 57.45%
Preferred Stocks
0.00% 0.00% 0.07% 49.97%
Other
0.00% -3.69% 53.54% 53.66%
Convertible Bonds
0.00% 0.00% 0.93% 49.70%

Bond Sector Breakdown

Weighting Return Low Return High EKVAX % Rank
Municipal
99.04% 44.39% 100.00% 38.77%
Cash & Equivalents
0.66% 0.00% 44.41% 39.56%
Derivative
0.00% -3.69% 53.54% 52.52%
Securitized
0.00% 0.00% 5.93% 50.44%
Corporate
0.00% 0.00% 9.41% 58.33%
Government
0.00% 0.00% 52.02% 53.61%

Bond Geographic Breakdown

Weighting Return Low Return High EKVAX % Rank
US
98.89% 0.00% 142.23% 50.50%
Non US
0.00% 0.00% 23.89% 51.98%

EKVAX - Expenses

Operational Fees

EKVAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.98% 0.01% 8.02% 30.31%
Management Fee 0.40% 0.00% 1.20% 41.95%
12b-1 Fee 0.00% 0.00% 1.00% 7.72%
Administrative Fee 0.16% 0.01% 0.44% 85.09%

Sales Fees

EKVAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 4.50% 0.50% 4.75% 6.90%
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

EKVAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% 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.

EKVAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 21.00% 0.00% 283.00% 61.64%

EKVAX - Distributions

Dividend Yield Analysis

EKVAX Category Low Category High EKVAX % Rank
Dividend Yield 3.02% 0.00% 14.51% 40.07%

Dividend Distribution Analysis

EKVAX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

EKVAX Category Low Category High EKVAX % Rank
Net Income Ratio 2.64% -0.53% 5.33% 14.34%

Capital Gain Distribution Analysis

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

Distributions History

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EKVAX - Fund Manager Analysis

Managers

Robert Miller


Start Date

Tenure

Tenure Rank

Nov 01, 2009

12.59

12.6%

Robert Miller is a senior portfolio manager for the Municipal Fixed Income team at Allspring Global Investments, where he manages mutual funds and separate accounts. He joined Allspring from its predecessor firm, Wells Fargo Asset Management (WFAM). Prior to joining WFAM, Robert worked for American Century Investments, where he was part of a team managing the firm’s municipal bond portfolios. Robert had direct responsibility for the firm’s national intermediate- and long-term investment-grade strategies. In addition, he managed several other state-specific funds for the firm. Robert also served as a member of its analytical team. Earlier, Robert was a municipal bond analyst with Moody’s Investors Service, where he served as an analyst in the States and High Profile Ratings Group as well as the Airport Credit Group, the Southeast Regional Ratings Group, and the Mid-Atlantic Regional Ratings Group. He also founded a small venture capital firm and served as a consultant with Black and Veatch and KPMG Peat Marwick, where he specialized in conducting financial feasibility studies in support of large infrastructure projects. Robert earned a bachelor’s degree in business administration with an emphasis in finance from San Jose State University and a master’s degree in business administration from the Leonard N. Stern School of Business at New York University.

Bruce Johns


Start Date

Tenure

Tenure Rank

Jan 01, 2011

11.42

11.4%

Bruce Johns is a senior portfolio manager for the Municipal Fixed Income team at Allspring Global Investments. In this capacity, he manages national short to intermediate maturity strategies and certain state-specific mutual funds. Bruce joined Allspring from its predecessor firm, Wells Fargo Asset Management (WFAM). He joined WFAM from Strong Capital Management, where he was a senior research analyst covering the health care sector. Prior to taking on the role of research analyst at Strong, his area of responsibility included all fixed income settlements operations. He earned a bachelor’s degree in business and finance from the University of Wisconsin, Parkside. Bruce is a member of the National Federation of Municipal Analysts and the Minnesota 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
0.08 35.05 7.36 1.58