Allspring Short-Term Municipal Bond Fund Q1 2026 Commentary
The Allspring Short-Term Municipal Bond Fund underperformed its benchmark in the first quarter of 2026. Key factors affecting performance included credit quality and sector allocations, while yield curve and duration had a negative impact. High yield bonds within municipal credit showed positive performance, rising 0.71% during the quarter.
- ▪The fund underperformed the Bloomberg 1-3 Year Composite Municipal Bond Index for the three-month period ending March 31, 2026.
- ▪Credit quality and sector allocations were the largest drivers of the fund's performance.
- ▪High yield bonds within municipal credit outperformed other tiers, increasing by 0.71% during the quarter.
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