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Name

As of 01/17/2025

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

Allspring California Tax-Free Fund

SGTIX | Fund

$10.52

$694 M

3.60%

$0.38

0.51%

Vitals

YTD Return

-0.5%

1 yr return

2.3%

3 Yr Avg Return

-0.7%

5 Yr Avg Return

0.2%

Net Assets

$694 M

Holdings in Top 10

16.6%

52 WEEK LOW AND HIGH

$10.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.51%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 9.00%

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 01/17/2025

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

Allspring California Tax-Free Fund

SGTIX | Fund

$10.52

$694 M

3.60%

$0.38

0.51%

SGTIX - Profile

Distributions

  • YTD Total Return -0.5%
  • 3 Yr Annualized Total Return -0.7%
  • 5 Yr Annualized Total Return 0.2%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.93%
DIVIDENDS
  • Dividend Yield 3.6%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Allspring California Tax-Free Fund
  • Fund Family Name
    Allspring Funds
  • Inception Date
    Oct 31, 2014
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Adrian Van Poppel

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 California 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 California individual income tax. Our investment holdings may include municipal securities issued by the state of California 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.
The Fund is considered to be non-diversified.
Read More

SGTIX - Performance

Return Ranking - Trailing

Period SGTIX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.5% -2.0% 3.5% 72.67%
1 Yr 2.3% -6.2% 34.4% 57.15%
3 Yr -0.7%* -11.4% 8.0% 61.87%
5 Yr 0.2%* -7.9% 1102.6% 64.33%
10 Yr 1.7%* -1.5% 248.8% 32.72%

* Annualized

Return Ranking - Calendar

Period SGTIX Return Category Return Low Category Return High Rank in Category (%)
2024 -1.1% -10.0% 34.9% 53.79%
2023 2.1% -1.4% 41.0% 71.45%
2022 -12.9% -39.7% 0.3% 68.05%
2021 -0.8% -5.6% 6.9% 67.01%
2020 1.2% -2.6% 310.0% 75.84%

Total Return Ranking - Trailing

Period SGTIX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.5% -2.0% 3.5% 72.67%
1 Yr 2.3% -6.2% 34.4% 57.15%
3 Yr -0.7%* -11.4% 8.0% 61.87%
5 Yr 0.2%* -7.9% 1102.6% 64.33%
10 Yr 1.7%* -1.5% 248.8% 32.72%

* Annualized

Total Return Ranking - Calendar

Period SGTIX Return Category Return Low Category Return High Rank in Category (%)
2024 2.4% -6.6% 34.9% 37.34%
2023 5.8% -1.3% 41.0% 48.42%
2022 -9.8% -39.7% 1.1% 56.52%
2021 2.3% -4.8% 23761504.0% 31.68%
2020 3.7% -1.5% 17057.9% 52.03%

NAV & Total Return History

SGTIX - Holdings

Concentration Analysis

SGTIX Category Low Category High SGTIX % Rank
Net Assets 694 M 3.22 M 71.9 B 38.98%
Number of Holdings 254 4 14014 47.15%
Net Assets in Top 10 107 M -317 M 3.09 B 41.84%
Weighting of Top 10 16.57% 1.5% 100.3% 55.71%

Top 10 Holdings

  1. SAN FRANCISCO CA CMNTY CLG DIST 2.62%
  2. CALIFORNIA ST HLTH FACS FING AUTH REVENUE 1.63%
  3. CALIFORNIA ST MUNI FIN AUTH REVENUE 1.61%
  4. CALIFORNIA ST 1.59%
  5. CALIFORNIA ST 1.59%
  6. CALIFORNIA ST HLTH FACS FING AUTH REVENUE 1.59%
  7. LONG BEACH CA UNIF SCH DIST 1.54%
  8. CALIFORNIA ST INFRASTRUCTURE ECON DEV BANK REVENUE 1.48%
  9. RIVERSIDE CNTY CA ASSET LEASING CORP LEASEHOLD REVENUE 1.47%
  10. SANTA ANA CA UNIF SCH DIST 1.44%

Asset Allocation

Weighting Return Low Return High SGTIX % Rank
Bonds 		99.18% 0.00% 150.86% 39.60%
Cash 		0.83% -50.86% 44.62% 60.58%
Stocks 		0.00% 0.00% 99.77% 45.77%
Preferred Stocks 		0.00% 0.00% 0.07% 38.01%
Convertible Bonds 		0.00% 0.00% 0.93% 37.49%
Other 		-0.01% -3.69% 53.54% 93.35%

Bond Sector Breakdown

Weighting Return Low Return High SGTIX % Rank
Municipal 		97.30% 44.39% 100.00% 62.24%
Cash & Equivalents 		0.06% 0.00% 44.41% 52.92%
Securitized 		0.00% 0.00% 5.93% 38.64%
Corporate 		0.00% 0.00% 9.41% 48.42%
Government 		0.00% 0.00% 52.02% 43.83%
Derivative 		-0.01% -3.69% 53.54% 93.42%

Bond Geographic Breakdown

Weighting Return Low Return High SGTIX % Rank
US 		99.18% 0.00% 142.23% 37.61%
Non US 		0.00% 0.00% 23.89% 39.89%

SGTIX - Expenses

Operational Fees

SGTIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.51% 0.01% 8.02% 81.05%
Management Fee 0.39% 0.00% 1.20% 35.64%
12b-1 Fee 0.00% 0.00% 1.00% 6.05%
Administrative Fee 0.08% 0.01% 0.44% 26.71%

Sales Fees

SGTIX 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

SGTIX 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.

SGTIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 9.00% 0.00% 283.00% 16.18%

SGTIX - Distributions

Dividend Yield Analysis

SGTIX Category Low Category High SGTIX % Rank
Dividend Yield 3.60% 0.00% 14.51% 10.34%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

SGTIX Category Low Category High SGTIX % Rank
Net Income Ratio 2.93% -0.53% 5.33% 7.82%

Capital Gain Distribution Analysis

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

Distributions History

View More +

SGTIX - Fund Manager Analysis

Managers

Adrian Van Poppel

Start Date

Tenure

Tenure Rank

Nov 01, 2009

12.59

12.6%

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.

Terry Goode

Start Date

Tenure

Tenure Rank

Jul 06, 2011

10.91

10.9%

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.

Brandon Pae

Start Date

Tenure

Tenure Rank

Mar 28, 2019

3.18

3.2%

Mr. Pae joined Wells Capital Management Incorporated in 2012, where he currently serves as a Portfolio Manager.

Kim Nakahara

Start Date

Tenure

Tenure Rank

Sep 01, 2020

1.75

1.8%

Ms. Nakahara joined Wells Capital Management or one of its predecessor firms in 2014, where she currently serves as a Senior Research Analyst.

Tenure Analysis

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

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