Columbia Total Return Municipal Income Fund Q4 2025 Commentary

Columbia Threadneedle Investments1.01K FollowersFollow5ShareSavePlay(10min)CommentsSummaryInstitutional Class shares of Columbia Total Return Municipal Income Fund returned 1.31% for the three months ending December 31, 2025.The fund's benchmark, the Bloomberg Municipal Bond Index, returned 1.56% for the same period.The fund underperformed its benchmark, with security selection in AA bonds being the primary detractor, while yield curve positioning and a positive yield carry providing positive contributions. Richard Drury/DigitalVision via Getty Images Market overview Elevated political uncertainty was front and center during the quarter, with the end of the longest-ever federal government shutdown. The shutdown disrupted economic data flow and added uncertainty to interest-rate expectations and risk markets. InThis article was written byColumbia Threadneedle Investments1.01K FollowersFollowColumbia Threadneedle Investments is a leading global asset management group that provides a broad range of actively managed investment strategies and solutions for individual, institutional and corporate clients around the world.

Columbia Threadneedle Investments is the global asset management group of Ameriprise Financial, Inc. (NYSE: AMP). For more information please visit columbiathreadneedleus.com.