ETF Evaluator:
Allspring High Yield Municipal Bond ETF ()
Follow This ETF
(as of Nov 13)
Best Performing in High Yield Muni Over the Last Year
| 2.3% | Allspring High Yield Municipal Bond ETF (AHYM) |
| 2.3% | iShares Short Duration HY Muni Act ETF (SHYM) |
| 1.9% | VanEck Short High Yield Muni ETF (SHYD) |
| 1.6% | Invesco Rochester HY Municipal ETF (IROC) |
| 1.4% | Eaton Vance High Income Municipal ETF (EVYM) |
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ETF Details
Allspring High Yield Municipal Bond ETF Overview
Allspring High Yield Municipal Bond ETF (AHYM) is an actively managed Municipal Bond High Yield Muni exchange-traded fund (ETF). Allspring Global Investments launched the ETF in 2026.
The investment seeks high current income exempt from federal income tax and capital appreciation.
The fund invests at least 80% of the fund's net assets in municipal securities whose interest is exempt from federal income tax, but not necessarily federal alternative minimum tax ("AMT"). It invests up to 20% of the fund's total assets in securities whose interest is subject to federal AMT. At least 50% of the fund's total assets in municipal securities rated BBB and below or comparable unrated municipal securities.
About Allspring High Yield Municipal Bond ETF (AHYM)
There are 2 members of the management team with an average tenure of 7.64 years: Dennis Derby (2013) and Nicholos Venditti (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Bloomberg Municipal TR USD index with a weighting of 100% and Bloomberg HY Muni TR USD index with a weighting of 100%. Allspring High Yield Municipal Bond ETF has 187 securities in its portfolio. The top 10 holdings constitute 14.4% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Allspring High Yield Municipal Bond ETF is part of the Fixed Income global asset class and is within the Municipal Bond ETF group. Allspring High Yield Municipal Bond ETF has 2.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 99.1% (96.6% domestic bond, 2.5% foreign bond and 0.0% convertible bond). Allspring High Yield Municipal Bond ETF has 0.9% of the portfolio in cash.
Assets Under Management
The fund has $1 million in total assets, which is below the $964 million average for the High Yield Muni category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
AHYM Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Allspring High Yield Municipal Bond ETF expense ratio is average compared to funds in the High Yield Muni category. Allspring High Yield Municipal Bond ETF has an expense ratio of 0.50%, which is 21% lower than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Allspring High Yield Municipal Bond ETF has a portfolio turnover rate of 35%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 39% for the High Yield Muni category.
Recently, in the month of October 2026, Allspring High Yield Municipal Bond ETF returned 4.2%, which earned it a grade of A, as the High Yield Muni category had an average return of 3.6%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Allspring High Yield Municipal Bond ETF has a trailing yield of 0.00%, which is below the 4.75% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Allspring High Yield Municipal Bond ETF Grades
Year to date, the ETF has returned 1.6%, 1.2 percentage points better than the category, which translates into a grade of A. The fund has returned 2.3% over the past year (grade of A), 6.6% over the past three years (grade of B) and 1.0% per year over the past five years (grade of B) and 2.9% per year over the past 10 years (grade of A).
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AHYM Trailing NAV Total Returns Data as of 10/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| AHYM Return (NAV) | 4.2% | -0.8% | 2.3% | 6.6% | 1.0% | 2.9% |
| AHYM Return (Price) | na | na | na | na | na | na |
| NAV +/- Price Return | na | na | na | na | na | na |
| High Yield Muni Avg | 3.6% | -1.8% | 0.8% | 6.6% | 0.3% | 2.3% |
| AHYM Grade (NAV) | A | A | A | B | B | A |
| +/- Category (NAV) | 0.6% | 1.0% | 1.5% | -0.0% | 0.7% | 0.6% |
| AHYM Tax-Cost Ratio | na | na | na | na | na | na |
AHYM Annual NAV Total ReturnsData as of 10/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| AHYM Return (NAV) | 1.6% | 2.7% | 5.6% | 6.6% | -11.8% | 5.3% | 2.2% | 9.5% | 3.8% | 9.0% | -0.1% |
| AHYM Return (Price) | na | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | na | na | na | na | na | na | na | na | na | na | na |
| High Yield Muni Avg | 0.4% | 4.0% | 5.5% | 6.4% | -14.5% | 5.9% | 3.7% | 10.4% | 1.3% | 7.3% | 0.6% |
| AHYM Grade (NAV) | A | F | C | C | B | C | D | D | A | B | F |
| +/- Category | 1.2% | -1.2% | 0.1% | 0.2% | 2.7% | -0.6% | -1.5% | -0.8% | 2.4% | 1.7% | -0.7% |
| Risk Measures | |
| Beta: | 1.04 |
| R-Squared: | 94% |
| Standard Deviation: | 6.8% |
| Category Risk Index: | 0.99 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 0.56 |
| Total Risk Rating: | Below Average |
| Portfolio Characteristics | |
| Yield: | -- |
| Total Assets: | $ 172 Mil |
| Share Class Assets: | $ 1 Mil |
| Turnover: | 35.0% |
| Expense Ratio: | 0.50% |
| Index Fund: | No |
| Index Tracked: | Bloomberg Municipal TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 13.8 years | |||
| Average Tenure: 7.6 years | |||
| Managers (Year): Derby Dennis (2013), Venditti Nicholos (2025) | |||
Portfolio Composition (as of 9/30/26)
| # of Holdings: | 187 |
| % in Top 10 Holdings: | 14.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 2.5% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 96.6% |
| Foreign Bond: | 2.5% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.9% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Allspring Global Investments |
| Phone Number: | 866-701-2575 |
| Website: | www.allspringglobal.com |
| Inception Date: | October 20, 2026 |
Expenses and Fees
| Expense Ratio (%): | 0.50% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.64% |
