Fund Evaluator:
Allspring Strategic Municipal Bd C (DHICX)
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Fund Details
Allspring Strategic Municipal Bd C Overview
Allspring Strategic Municipal Bd C (DHICX) is an actively managed Municipal Bond Muni National Short fund. Allspring Global Investments launched the fund in 1997.
The investment seeks current income exempt from regular federal income tax. The fund normally invests at least 80% of the fund's net assets in municipal securities whose interest is exempt from regular federal income tax, but not necessarily the federal alternative minimum tax (AMT). It invests up to 35% of the fund's total assets in below investment-grade municipal securities. The fund invests principally in municipal securities of states, territories and possessions of the United States whose interest is exempt from regular federal income tax, but not necessarily federal AMT.
About Allspring Strategic Municipal Bd C (DHICX)
There are 2 members of the management team with an average tenure of 10.88 years: Robert Miller (2010), Nicholos Venditti (2020). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg Municipal TR USD index with a weighting of 100% and Bloomberg Municipal Short-Term TR USD index with a weighting of 100%. Allspring Strategic Municipal Bd C has 897 securities in its portfolio. The top 10 holdings constitute 9.7% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Allspring Strategic Municipal Bd C is part of the Fixed Income global asset class and is within the Municipal Bond fund group. Allspring Strategic Municipal Bd C has 0.3% 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 98.3% (97.9% domestic bond, 0.3% foreign bond and 0.0% convertible bond). Allspring Strategic Municipal Bd C has 1.7% of the portfolio in cash.
Assets Under Management
The fund has $11 million in total assets, which is below the $633 million average for the Muni National Short 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.
DHICX 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 Strategic Municipal Bd C expense ratio is high compared to funds in the Muni National Short category. Allspring Strategic Municipal Bd C has an expense ratio of 1.53%, which is 165% higher 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 Strategic Municipal Bd C has a portfolio turnover rate of 16%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 51% for the Muni National Short category.
Recently, in the month of July 2026, Allspring Strategic Municipal Bd C returned -1.1%, which earned it a grade of F, as the Muni National Short category had an average return of -0.5%. 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 funds in that category.
Allspring Strategic Municipal Bd C has a trailing yield of 1.87%, which is below the 2.78% 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 Strategic Municipal Bd C Grades
Year to date, the fund has returned 0.1%, 0.7 percentage points worse than the category, which translates into a grade of F. The fund has returned 2.6% over the past year (grade of C), 2.3% over the past three years (grade of F) and 0.3% per year over the past five years (grade of F) and 1.0% per year over the past 10 years (grade of F).
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DHICX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| DHICX Return (NAV) | -1.1% | -0.4% | 2.6% | 2.3% | 0.3% | 1.0% |
| DHICX Grade | F | F | C | F | F | F |
| +/- Category | -0.6% | -0.5% | -0.1% | -0.9% | -1.2% | -0.5% |
| Muni National Short Avg | -0.5% | 0.1% | 2.7% | 3.2% | 1.5% | 1.5% |
| DHICX Tax Cost Ratio | na | na | 0.0% | 0.0% | 0.0% | 0.0% |
DHICX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| DHICX Return (NAV) | 0.1% | 2.9% | 2.1% | 3.6% | -6.2% | 0.2% | 2.4% | 3.7% | 1.3% | 2.4% | -0.4% |
| DHICX Grade | F | F | F | D | F | C | C | B | C | B | D |
| +/- Category | -0.7% | -1.1% | -0.5% | -0.2% | -3.0% | -0.2% | -0.1% | 0.3% | 0.1% | 0.5% | -0.2% |
| Muni National Short Avg | 0.8% | 4.0% | 2.6% | 3.9% | -3.2% | 0.4% | 2.4% | 3.4% | 1.2% | 1.9% | -0.1% |
| Risk Measures | |
| Standard Deviation: | 3.2% |
| Total Risk Index: | 0.26 - Low |
| Category Risk Index: | 1.53 - High |
| Category Risk Grade: | F (90% Rank) |
| Beta: | 0.54 |
| R-Squared: | 97% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 1.9% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1927 Mil |
| Fund Total Assets: | $ 12 Mil |
| Share Class Type: | C |
| Portfolio Turnover: | 16% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 15.8 years | |||
| Average Tenure: 10.9 years | |||
| Managers (Year): Miller Robert (2010), Venditti Nicholos (2020) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 897 |
| % in Top 10 Holdings: | 9.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.3% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 97.9% |
| Foreign Bond: | 0.3% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.7% |
Purchase Information
| Fund Family: | Allspring Global Investments |
| Phone Number: | 800-222-8222 |
| Website: | www.allspringglobal.com |
| Status: | Open |
| Inception Date: | August 18, 1997 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 250 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 1.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.75% |
Expenses and Fees | |
| Expense Ratio (%): | 1.53% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.58% |
| Share Class: | Allspring Strategic Municipal Bd A |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
