Columbia Ultra Short Duration Municipal Bond Fund
Data updated: 2026-07-29
C000231689 — Columbia Ultra Short Duration Municipal Bond Fund. Leveraged · $71.89M AUM · 0.32% expense ratio. Holdings, fees, performance and SEC filings.
C000231689 Fund Overview
Columbia Ultra Short Duration Municipal Bond Fund is a US mutual fund managed by Columbia Funds Series Trust II, categorised as Leveraged. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Columbia Funds Series Trust II
- Category: Leveraged
- Assets under management: $71.89M
- 1-year return: 3.3%
- SEC CIK: 0001352280
- SEC series ID: S000074124
- Share class ID: C000231689
C000231689 Investment Objective and Strategy
Columbia Ultra Short Duration Municipal Bond Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Columbia Funds Series Trust II.
Investment objective
Columbia Ultra Short Duration Municipal Bond Fund (the Fund) seeks to provide shareholders with current income exempt from U.S. federal income tax, consistent with preservation of capital.
Principal investment strategy
Under normal circumstances, the Fund invests at least 80% of its net assets (including the amount of any borrowings for investment purposes) in municipal securities that pay interest exempt from U.S. federal income tax (including the federal alternative minimum tax (AMT)). These securities are issued by or on behalf of states and their political subdivisions, agencies, authorities and instrumentalities, and by other qualified issuers. Qualified issuers include issuers located in U.S. territories, commonwealths and possessions, such as Guam, Puerto Rico and the U.S. Virgin Islands. The Fund may also invest indirectly in such securities through investments in underlying funds, including affiliated funds. The Fund may invest up to 20% of its net assets in securities that pay interest subject to taxation, including the federal alternative minimum tax.
The Fund generally invests in municipal securities that, at the time of purchase, are rated investment grade or are unrated but determined to be of comparable quality. The Fund may invest up to 10% of its assets in debt instruments that, at the time of purchase, are rated below investment grade or are unrated but determined to be of comparable quality (commonly referred to as high-yield investments or junk bonds). The Fund may from time to time emphasize investment exposure to one or more states in selecting its investments. As of its most recent fiscal year end, the Fund had an investment emphasis in Texas municipal securities. The Funds portfolio duration normally ranges up to two years. The Fund may enter into tender option bond (TOB) transactions and may invest in derivatives, such as floating rate municipal securities (floaters) and inverse floating rate municipal securities (inverse floaters) to add incremental income, futures (including interest rate and Treasury bond futures) to manage duration and hedge against changes in interest rates, and swaps, including Municipal Market Data Rate Locks (MMD Rate Locks) to manage duration and hedge against changes in interest rates.
Inverse floaters provide the Fund with leveraged exposure to underlying municipal bonds whose interest payments vary inversely with changes in short-term tax-exempt interest rates. The Funds investment strategy may involve the frequent trading of portfolio securities.
C000231689 Holdings
Top 10 holdings of Columbia Ultra Short Duration Municipal Bond Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| BlackRock Liquidity Funds MuniCash | 4.97% |
| State of Maryland | 2.93% |
| Fairfax County Redevelopment & Housing Authority | 2.84% |
| Port Authority Of New York And New Jersey | 2.80% |
| Colorado Housing and Finance Authority | 2.79% |
| State of Minnesota | 2.66% |
| City of Fall River MA | 2.22% |
| State of Wisconsin | 2.13% |
| Missouri (state Of) | 2.11% |
| PMA Levy & Aid Anticipation Notes Program | 2.10% |
C000231689 Portfolio Allocation
Asset-class allocation of Columbia Ultra Short Duration Municipal Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 94.0% |
| Equity | 5.0% |
C000231689 Performance
Total returns for C000231689 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 3.3% |
| 3 years (annualised) | 2.0% |
C000231689 Risk Information
Risk metrics for C000231689, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 0.7%
C000231689 Costs and Fees
C000231689 costs about $32 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.32%
- Gross expense ratio: 0.34%
- Portfolio turnover: 38%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
C000231689 Cashflows
Over the 12 months to 2026-05, Columbia Ultra Short Duration Municipal Bond Fund had net inflows of $2.50M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-05 | −$685.96K |
| 2026-04 | −$1.81M |
| 2026-03 | −$6.51M |
| 2026-02 | −$2.91M |
| 2026-01 | $25.73M |
| 2025-12 | −$1.45M |
C000231689 Debt Constituents
Largest debt holdings of Columbia Ultra Short Duration Municipal Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| State of Maryland | 2.93% |
| Fairfax County Redevelopment & Housing Authority | 2.84% |
| Port Authority Of New York And New Jersey | 2.80% |
| Colorado Housing and Finance Authority | 2.79% |
| State of Minnesota | 2.66% |
| City of Fall River MA | 2.22% |
| State of Wisconsin | 2.13% |
| Missouri (state Of) | 2.11% |
| PMA Levy & Aid Anticipation Notes Program | 2.10% |
| City of Los Angeles Department of Airports | 2.09% |
C000231689 Prospectus and SEC Filings
Official Columbia Ultra Short Duration Municipal Bond Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2025-12-22
- Prospectus (485BPOS) — filed 2024-12-23
- Prospectus (485BPOS) — filed 2023-12-21
- Portfolio holdings (N-PORT) — filed 2026-07-29
- Portfolio holdings (N-PORT) — filed 2026-04-27
- Portfolio holdings (N-PORT) — filed 2026-01-28
- Annual census (N-CEN) — filed 2025-11-07
- Annual census (N-CEN) — filed 2024-11-08
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Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.