Allspring Ultra Short Municipal ETF

Allspring Ultra Short Municipal ETF is an actively managed exchange-traded fund designed to provide current income that is generally exempt from federal income tax, prioritizing capital preservation. The fund primarily invests in high-credit-quality municipal securities with an average effective maturity of one year or less, focusing on the ultra-short duration segment of the municipal bond market. At least 80% of its net assets are allocated to municipal securities whose interest is exempt from federal income tax, with up to 20% permitted in securities subject to the federal alternative minimum tax and up to 10% in below-investment-grade municipal securities. This positioning on the very front end of the yield curve aims to offer low interest rate risk while maintaining liquidity and yield potential. The ETF employs a relative value investment approach, actively managing security selection, sector rotation, duration, and yield curve positioning. Allspring Ultra Short Municipal ETF serves as a potential cash alternative for investors seeking tax-efficient income and low volatility in their fixed income allocations, making it distinct within the market for short-term municipal bond strategies.