Fund Evaluator:
Allspring Municipal Bond R6 (WMBRX)
Follow This Fund
Best Performing in Muni National Long Over the Last Year
| 6.2% | Vanguard High-Yield Tax-Exempt Adm (VWALX) |
| 6.2% | Victory Tax Exempt Long-Term (USTEX) |
| 6.1% | Vanguard High-Yield Tax-Exempt (VWAHX) |
| 6.0% | Invesco Municipal Income Investor (VMINX) |
| 5.8% | Thrivent Municipal Bond S (TMBIX) |
Fund Details
Allspring Municipal Bond R6 Overview
Allspring Municipal Bond R6 (WMBRX) is an actively managed Municipal Bond Muni National Long fund. Allspring Global Investments launched the fund in 2018.
The investment seeks income exempt from federal income tax. The fund normally 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. While the fund may purchase securities of any maturity, under normal circumstances, the advisor expects the fund's dollar-weighted average effective maturity to be between 3 and 20 years.
About Allspring Municipal Bond R6 (WMBRX)
There are 3 members of the management team with an average tenure of 8.44 years: Robert Miller (2008), Nicholos Venditti (2020), Adrian Van Poppel (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Bloomberg Municipal TR USD index with a weighting of 100%. Allspring Municipal Bond R6 has 1850 securities in its portfolio. The top 10 holdings constitute 5.7% 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 Municipal Bond R6 is part of the Fixed Income global asset class and is within the Municipal Bond fund group. Allspring Municipal Bond R6 has 0.1% 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 99.4% (99.3% domestic bond, 0.1% foreign bond and 0.0% convertible bond). Allspring Municipal Bond R6 has 0.6% of the portfolio in cash.
Assets Under Management
The fund has $2 billion in total assets, which is above the $1 billion average for the Muni National Long 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.
WMBRX 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 Municipal Bond R6 expense ratio is below average compared to funds in the Muni National Long category. Allspring Municipal Bond R6 has an expense ratio of 0.37%, which is 53% lower than its category average, making the fund expense ratio grade a A. 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 Municipal Bond R6 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 37% for the Muni National Long category.
Recently, in the month of August 2026, Allspring Municipal Bond R6 returned -0.3%, which earned it a grade of C, as the Muni National Long category had an average return of -0.3%. 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 Municipal Bond R6 has a trailing yield of 3.55%, which is below the 3.75% category average. The fund normally distributes its income monthly.
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 Municipal Bond R6 Grades
Year to date, the fund has returned 0.6%, 0.0 percentage points better than the category, which translates into a grade of C. The fund has returned 4.2% over the past year (grade of F), 3.4% over the past three years (grade of D) and 0.7% per year over the past five years (grade of A).
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WMBRX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| WMBRX Return (NAV) | -0.3% | -1.0% | 4.2% | 3.4% | 0.7% | na |
| WMBRX Grade | C | A | F | D | A | na |
| +/- Category | -0.0% | 0.2% | -0.9% | -0.3% | 0.6% | na |
| Muni National Long Avg | -0.3% | -1.1% | 5.1% | 3.6% | 0.0% | 1.7% |
| WMBRX Tax Cost Ratio | na | na | 0.0% | 0.0% | 0.0% | na |
WMBRX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| WMBRX Return (NAV) | 0.6% | 3.2% | 2.5% | 5.9% | -8.4% | 2.3% | 4.3% | 7.6% | na | na | na |
| WMBRX Grade | C | C | C | F | A | D | D | D | na | na | na |
| +/- Category | 0.0% | 0.2% | 0.0% | -0.9% | 3.3% | -0.6% | -0.5% | -0.5% | na | na | na |
| Muni National Long Avg | 0.6% | 3.0% | 2.5% | 6.8% | -11.6% | 2.8% | 4.8% | 8.1% | 0.7% | 5.8% | 0.2% |
| Risk Measures | |
| Standard Deviation: | 4.8% |
| Total Risk Index: | 0.40 - Low |
| Category Risk Index: | 0.75 - Low |
| Category Risk Grade: | A (1% Rank) |
| Beta: | 0.85 |
| R-Squared: | 98% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 3.6% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | |
| Total Assets: | $9661 Mil |
| Fund Total Assets: | $2,149 Mil |
| Share Class Type: | Retirement |
| Portfolio Turnover: | 16% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 18.3 years | |||
| Average Tenure: 8.4 years | |||
| Managers (Year): Miller Robert (2008), Venditti Nicholos (2020), Van Poppel Adrian (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 1850 |
| % in Top 10 Holdings: | 5.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.1% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 99.3% |
| Foreign Bond: | 0.1% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.6% |
Purchase Information
| Fund Family: | Allspring Global Investments |
| Phone Number: | 800-222-8222 |
| Website: | www.allspringglobal.com |
| Status: | Open |
| Inception Date: | July 31, 2018 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.00% |
Expenses and Fees | |
| Expense Ratio (%): | 0.37% ( Rating : Below Avg ) |
| Category Average Expense Ratio (%): | 0.79% |
| Share Class: | Allspring Municipal Bond Admin |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
