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Trending ETFs

Name

As of 03/25/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$8.15

$36.2 M

4.41%

$0.36

1.61%

Vitals

YTD Return

6.1%

1 yr return

5.8%

3 Yr Avg Return

6.5%

5 Yr Avg Return

0.4%

Net Assets

$36.2 M

Holdings in Top 10

93.9%

52 WEEK LOW AND HIGH

$8.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.61%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 0.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/25/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$8.15

$36.2 M

4.41%

$0.36

1.61%

WRPIX - Profile

Distributions

  • YTD Total Return 6.1%
  • 3 Yr Annualized Total Return 6.5%
  • 5 Yr Annualized Total Return 0.4%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -0.68%
DIVIDENDS
  • Dividend Yield 4.4%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Allspring Alternative Risk Premia Fund
  • Fund Family Name
    Allspring Funds
  • Inception Date
    Jan 29, 2019
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Petros Bocray

Fund Description

The Fund seeks to provide investors with exposure to sources of excess return, known as alternative risk premia (ARP), which result from systematic risks and/or behavioral biases existing within the financial markets. We believe that ARP exist as compensation for investors that are willing to assume particular market risks that other investors are unable or unwilling to assume because of structural constraints or behavioral biases. The return patterns of ARP have historically displayed low correlations with one another and with traditional asset classes. We seek to maintain low correlations with stock and bond investments while producing a positive return over a 3 to 5 year period.
In order to capture various ARP, the Fund will establish both long and short positions in equities, fixed income, currencies and commodities directly or with derivatives. The derivative holdings will include futures, forwards, and swaps. The equity holdings are diversified across global developed market listed equities of any market capitalization or related derivatives. For purposes of maintaining collateral for derivative positions, a significant portion of the Fund’s assets may be held in cash or cash equivalent investments, including, but not limited to, short-term investment funds and/or U.S. Government securities. Other than the fixed income securities that the Fund will hold directly for the purpose of maintaining collateral, the Fund’s fixed income positions will primarily be established through treasury and interest rate futures.
We will use a dynamic approach to maintain a balanced risk allocation approach to establish the Fund’s exposures to ARP, typically investing in a combination of the following strategies:
Value. We define value as buying assets with lower valuations and selling assets with higher valuations. Valuations relate market prices to some financial metric relevant to an asset class. For example, buying equities with lower price to book or price to equity ratios and selling assets with higher price to book or price to equity ratios. The value premia may be captured in multiple asset classes, including equities, fixed income, currencies and commodities.
Momentum. We define momentum as buying assets with strong recent performance and selling assets with weak recent performance. The momentum premia may be captured in multiple asset classes, including equities, fixed income, currencies and commodities.
Carry. Carry strategies seek to capture the tendency for higher yielding assets to provide higher total returns versus lower yielding assets. One example is to buy higher yielding currencies while selling lower yielding currencies. Carry strategies may be employed on multiple asset classes, including fixed income, currencies and commodities.
The Fund utilizes the services of two sub-advisers, Allspring Global Investments (UK) Limited (“Allspring UK”) and Allspring Global Investments, LLC (“Allspring Investments”). Allspring UK is responsible for making allocation decisions among the various asset classes and ARP styles, and these allocations may change over time. Allspring Investments is solely responsible for managing the Fund’s long/short equity positions (excluding equity index futures). Allspring UK and Allspring Investments are jointly responsible for managing the remainder of the Fund’s portfolio.
Under normal market conditions, the Fund may invest up to 15% of its net assets in the common or preferred stock of a subsidiary of the Fund that typically invests directly or indirectly in commodity-linked derivatives such as commodity forwards, commodity futures, commodity swaps, swaps on commodity futures and other commodity-linked derivative securities; it may also invest in all other securities allowed in the Fund. These holdings may contribute more than 15% of the Fund’s risk allocation.
The investment techniques employed by the Fund create leverage. As a result, the sum of the Fund’s investment exposures will typically exceed the amount of the Fund’s net assets. These exposures may vary over time. We expect gross notional exposure of the Fund to be in a range of 400% to 1200% of the net asset value of the Fund under normal market conditions; leverage may be significantly different (higher or lower) as deemed necessary by the Investment Manager. We expect net notional exposure of the Fund to be in a range of -200% to 200% of the net asset value of the Fund under normal market conditions.
Fund volatility is a statistical measurement of the dispersion of a portfolio’s returns as measured by the annualized standard deviation of its returns. By certain definitions, higher volatility tends to indicate higher risk. We will target an annualized Fund volatility of between 8% and 10%. The actual volatility may be higher or lower depending on market conditions as actual volatility can and will differ from targeted volatility.
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WRPIX - Performance

Return Ranking - Trailing

Period WRPIX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.1% -73.0% 19.4% 17.20%
1 Yr 5.8% -9.1% 86.9% 90.55%
3 Yr 6.5%* -9.5% 16.2% N/A
5 Yr 0.4%* -4.9% 14.4% N/A
10 Yr N/A* -0.9% 7.5% N/A

* Annualized

Return Ranking - Calendar

Period WRPIX Return Category Return Low Category Return High Rank in Category (%)
2023 -4.5% -22.7% 305.1% 95.93%
2022 -4.4% -9.8% 27.3% N/A
2021 6.8% -20.8% 10.9% N/A
2020 -16.8% -12.4% 29.4% N/A
2019 N/A -10.5% 15.8% N/A

Total Return Ranking - Trailing

Period WRPIX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.1% -73.0% 19.4% 17.20%
1 Yr 5.8% -13.4% 86.9% 89.09%
3 Yr 6.5%* -9.5% 16.2% N/A
5 Yr 0.4%* -5.3% 14.4% N/A
10 Yr N/A* -0.9% 7.5% N/A

* Annualized

Total Return Ranking - Calendar

Period WRPIX Return Category Return Low Category Return High Rank in Category (%)
2023 0.0% -22.7% 305.1% 95.93%
2022 10.4% -9.8% 27.3% N/A
2021 6.8% -20.8% 10.9% N/A
2020 -16.8% -8.4% 29.4% N/A
2019 N/A -10.2% 18.0% N/A

NAV & Total Return History


WRPIX - Holdings

Concentration Analysis

WRPIX Category Low Category High WRPIX % Rank
Net Assets 36.2 M 1.5 M 5.01 B 68.63%
Number of Holdings 64 4 4478 80.57%
Net Assets in Top 10 33.4 M -398 M 2.55 B 40.64%
Weighting of Top 10 93.91% 13.1% 100.0% 4.73%

Top 10 Holdings

  1. United States Treasury Bill 41.86%
  2. ALLSPRING GOVERNMENT MONEY MAR 19.87%
  3. TRS:Allspring Alternative Risk Premia ANL - GLSTRS02X 14.71%
  4. United States Treasury Bill 8.27%
  5. United States Treasury Bill 5.56%
  6. United States Treasury Bill 2.75%
  7. PURCHASED ZAR / SOLD USD 0.30%
  8. COFFEE 'C' FUTURE MAR24 0.23%
  9. PURCHASED HUF / SOLD USD 0.19%
  10. PURCHASED NOK / SOLD USD 0.18%

Asset Allocation

Weighting Return Low Return High WRPIX % Rank
Cash
87.70% -6278.21% 410.43% 93.99%
Other
12.30% -21.53% 148.54% 23.67%
Stocks
0.00% -3.75% 97.95% 80.92%
Preferred Stocks
0.00% -0.12% 46.97% 50.18%
Convertible Bonds
0.00% 0.00% 87.92% 65.02%
Bonds
0.00% -326.45% 6347.80% 1.77%

WRPIX - Expenses

Operational Fees

WRPIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.61% 0.29% 31.15% 81.65%
Management Fee 0.60% 0.00% 2.50% 14.13%
12b-1 Fee 0.00% 0.00% 1.00% 4.73%
Administrative Fee 0.13% 0.01% 0.30% 53.42%

Sales Fees

WRPIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

WRPIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

WRPIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 0.00% 0.00% 491.00% 1.21%

WRPIX - Distributions

Dividend Yield Analysis

WRPIX Category Low Category High WRPIX % Rank
Dividend Yield 4.41% 0.00% 4.56% 18.02%

Dividend Distribution Analysis

WRPIX Category Low Category High Category Mod
Dividend Distribution Frequency None Annually Quarterly Annually

Net Income Ratio Analysis

WRPIX Category Low Category High WRPIX % Rank
Net Income Ratio -0.68% -2.51% 6.83% 36.33%

Capital Gain Distribution Analysis

WRPIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

WRPIX - Fund Manager Analysis

Managers

Petros Bocray


Start Date

Tenure

Tenure Rank

Jan 29, 2019

3.34

3.3%

Mr. Bocray is a portfolio manager on the Quantitative Strategies team at Wells Capital All Portfolios Management. In this role, Mr. Bocray serves as co-manager on several of the team's portfolios and conducts research supporting the quantitative models and investment strategies. Prior to joining the team in March 2006, Mr. Bocray worked as a portfolio manager for the Wells Fargo Wealth Management Group, where he managed private client accounts with a focus on portfolio construction and asset allocation. Education: Bachelor of Economics, College of Charleston, Charleston, South Carolina.

Eddie Cheng


Start Date

Tenure

Tenure Rank

Jan 29, 2019

3.34

3.3%

Mr. Cheng joined Allspring UK or one of its predecessors firms in 2018, where he currently serves as head of International Portfolio Management within the Multi-Asset Solutions team. Prior to this, he was a Multi-Asset Portfolio Manager, joined Schroders in June 2007 and is responsible for portfolio research and analytics for the Strategic Beta strategy. Prior to 2012, Eddie was a portfolio manager for hedge fund investments and portfolio management focusing on the liquid strategies at Schroders New Finance Capital. He was a specialist in top-down macro research and quantitative portfolio construction techniques. Eddie started his career in 2002 at Institute of Information Science, Academia Sinica (Taipei) as a research analyst focusing on advanced signal processing technologies. BSc in Civil Engineering from National Taiwan University, double MSc in Financial Economics and Transportation Engineering, Oxford University and National Taiwan University.

Monisha Jayakumar


Start Date

Tenure

Tenure Rank

Jan 29, 2019

3.34

3.3%

Monisha Jayakumar joined Wells Capital Management or one of its predecessor firms in 2009, where she currently serves as a Portfolio Manager.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.02 17.37 4.48 1.67