Allspring Ultra Short Municipal ETF (AUSM)

The Allspring Ultra Short Municipal ETF is an actively managed fixed-income fund from Allspring Global Investments. It invests primarily in short-maturity municipal securities whose interest is generally exempt from federal income tax, seeking current income while emphasizing capital preservation and liquidity.

The portfolio holds bonds and notes issued by U.S. states, cities, and other public entities and authorities, with an overall duration kept very short to limit sensitivity to changes in interest rates. Allspring's municipal team selects securities based on credit research, structure and relative value rather than tracking an index.

Because of its short duration and tax-advantaged income focus, the fund is often used as an alternative to cash or money market holdings for investors in higher tax brackets. A portion of its income may be subject to the alternative minimum tax or state taxes.