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Trending ETFs

Name

As of 03/26/2024

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

$10.93

$1.03 B

3.17%

$0.35

0.49%

Vitals

YTD Return

0.2%

1 yr return

3.3%

3 Yr Avg Return

0.1%

5 Yr Avg Return

1.5%

Net Assets

$1.03 B

Holdings in Top 10

10.2%

52 WEEK LOW AND HIGH

$10.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.49%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 12.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/26/2024

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

$10.93

$1.03 B

3.17%

$0.35

0.49%

WITIX - Profile

Distributions

  • YTD Total Return 0.2%
  • 3 Yr Annualized Total Return 0.1%
  • 5 Yr Annualized Total Return 1.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.40%
DIVIDENDS
  • Dividend Yield 3.2%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Allspring Intermediate Tax/AMT-Free Fund
  • Fund Family Name
    Allspring Funds
  • Inception Date
    Mar 31, 2008
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • 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);
up to 15% 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  of  states, territories and possessions of the United States whose interest is exempt from federal income tax, including federal AMT. Some of the securities may be below investment grade or unrated and deemed by us to be of comparable quality. Under normal circumstances, we do not invest 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 10 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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WITIX - Performance

Return Ranking - Trailing

Period WITIX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.2% -2.7% 12.2% 40.83%
1 Yr 3.3% -3.0% 38.5% 52.75%
3 Yr 0.1%* -10.3% 3.3% 15.27%
5 Yr 1.5%* -5.7% 1102.9% 15.30%
10 Yr 2.2%* -0.2% 248.3% 36.49%

* Annualized

Return Ranking - Calendar

Period WITIX Return Category Return Low Category Return High Rank in Category (%)
2023 1.9% -1.4% 41.0% 77.46%
2022 -8.7% -39.7% 0.3% 24.51%
2021 -0.9% -5.6% 6.9% 71.96%
2020 1.7% -2.6% 310.0% 50.17%
2019 3.6% 0.0% 26.0% 56.31%

Total Return Ranking - Trailing

Period WITIX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.2% -2.7% 12.2% 40.83%
1 Yr 3.3% -3.0% 38.5% 52.75%
3 Yr 0.1%* -10.3% 3.3% 15.27%
5 Yr 1.5%* -5.7% 1102.9% 15.30%
10 Yr 2.2%* -0.2% 248.3% 36.49%

* Annualized

Total Return Ranking - Calendar

Period WITIX Return Category Return Low Category Return High Rank in Category (%)
2023 5.1% -1.3% 41.0% 64.31%
2022 -6.0% -39.7% 1.1% 18.33%
2021 1.7% -4.8% 23761504.0% 47.29%
2020 4.0% -1.5% 17057.9% 43.20%
2019 6.6% 0.2% 3514.6% 48.82%

NAV & Total Return History


WITIX - Holdings

Concentration Analysis

WITIX Category Low Category High WITIX % Rank
Net Assets 1.03 B 3.48 M 68.1 B 27.27%
Number of Holdings 580 2 12848 21.71%
Net Assets in Top 10 107 M -317 M 3.4 B 40.72%
Weighting of Top 10 10.16% 1.9% 100.4% 82.59%

Top 10 Holdings

  1. WISCONSIN ST HLTH EDUCTNL FACS AUTH REVENUE 1.43%
  2. TOHOPEKALIGA FL WTR AUTH UTILITY SYS REVENUE 1.19%
  3. MET TRANSPRTN AUTH NY REVENUE 1.13%
  4. TENDER OPTION BOND TRUST RECEIPTS / CTFS VARIOUS STATES 1.07%
  5. MET PIER EXPOSITION AUTH IL DEDICATED ST TAX REVENUE 0.97%
  6. S E ALABAMA ST GAS SPLY DIST GAS SPLY REVENUE 0.95%
  7. BAY AREA CA TOLL AUTH TOLL BRIDGE REVENUE 0.94%
  8. CLAYTON NM JAIL PROJ REVENUE 0.90%
  9. MET PIER EXPOSITION AUTH IL DEDICATED ST TAX REVENUE 0.80%
  10. NEW YORK ST CONVENTION CENTER DEV CORP REVENUE 0.78%

Asset Allocation

Weighting Return Low Return High WITIX % Rank
Bonds
99.16% 0.00% 150.86% 33.61%
Cash
0.84% -50.86% 50.09% 65.08%
Stocks
0.00% 0.00% 99.80% 53.70%
Preferred Stocks
0.00% 0.00% 0.52% 47.49%
Other
0.00% -8.54% 33.35% 49.81%
Convertible Bonds
0.00% 0.00% 0.93% 47.48%

Bond Sector Breakdown

Weighting Return Low Return High WITIX % Rank
Municipal
99.90% 44.39% 100.00% 17.08%
Derivative
0.00% -8.54% 23.38% 47.87%
Cash & Equivalents
0.00% 0.00% 48.02% 77.06%
Securitized
0.00% 0.00% 5.93% 48.32%
Corporate
0.00% 0.00% 9.41% 56.99%
Government
0.00% 0.00% 52.02% 51.62%

Bond Geographic Breakdown

Weighting Return Low Return High WITIX % Rank
US
99.16% 0.00% 142.23% 31.44%
Non US
0.00% 0.00% 23.89% 52.13%

WITIX - Expenses

Operational Fees

WITIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.49% 0.01% 20.65% 83.87%
Management Fee 0.38% 0.00% 1.20% 33.16%
12b-1 Fee 0.00% 0.00% 1.00% 7.65%
Administrative Fee 0.08% 0.01% 0.44% 26.57%

Sales Fees

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

Trading Fees

WITIX 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.

WITIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 12.00% 0.00% 283.00% 30.69%

WITIX - Distributions

Dividend Yield Analysis

WITIX Category Low Category High WITIX % Rank
Dividend Yield 3.17% 0.00% 14.36% 28.33%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

WITIX Category Low Category High WITIX % Rank
Net Income Ratio 2.40% -0.53% 5.33% 23.55%

Capital Gain Distribution Analysis

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

Distributions History

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WITIX - Fund Manager Analysis

Managers

Robert Miller


Start Date

Tenure

Tenure Rank

May 09, 2008

14.07

14.1%

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.

Adrian Van Poppel


Start Date

Tenure

Tenure Rank

Mar 28, 2019

3.18

3.2%

Adrian Van Poppel is a senior portfolio manager for the Municipal Fixed Income team at Allspring Global Investments. He joined Allspring from its predecessor firm, Wells Fargo Asset Management (WFAM). He joined WFAM in 1997 and was responsible for trading cash positions of repurchase agreements and sweep for all mutual funds. He earned a bachelor’s degree in business administration and economics as well as a master’s degree in financial analysis and investment management from Saint Mary’s College in Moraga, California. He is a member of the California Society of Municipal Analysts and the Municipal Bond Club of San Francisco.

Bruce Johns


Start Date

Tenure

Tenure Rank

Mar 28, 2019

3.18

3.2%

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.

Nicholos Venditti


Start Date

Tenure

Tenure Rank

Sep 01, 2020

1.75

1.8%

Nicholos Venditti is a senior portfolio manager for the Municipal Fixed Income team at Allspring Global Investments. He joined Allspring from its predecessor firm, Wells Fargo Asset Management (WFAM). Before joining WFAM, he was with Thornburg Investment Management as a portfolio manager and head of the municipal bond group. Earlier positions there include serving as a portfolio manager on seven mutual funds and separately managed accounts with total assets of approximately $10 billion. Prior to Thornburg, Nicholos held a variety of roles focused on municipal credit analysis at Financial Security Assurance/Assured Guaranty, where he began his investment industry career in 2007. He earned a bachelor’s degree in theoretical economics from Trinity University; a master’s degree in applied economics from the University of North Carolina, Greensboro, where he also served as an adjunct professor; and a master’s degree in finance from Syracuse University. He has earned the right to use the Chartered Financial Analyst® (CFA) designation.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.36 1.58