Allspring Dynamic Target 2035 Fund
Data updated: 2024-01-26
C000156883 — Allspring Dynamic Target 2035 Fund. Target Date / Glide Path Allocation · $111.32M AUM. Holdings, fees, performance and SEC filings.
C000156883 Fund Overview
Allspring Dynamic Target 2035 Fund is a US mutual fund managed by Allspring Funds Trust, categorised as Target Date / Glide Path Allocation. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Allspring Funds Trust
- Category: Target Date / Glide Path Allocation
- Assets under management: $111.32M
- 1-year return: 6.7%
- SEC CIK: 0001081400
- SEC series ID: S000049608
- Share class ID: C000156883
C000156883 Investment Objective and Strategy
Allspring Dynamic Target 2035 Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Allspring Funds Trust.
Investment objective
The Fund seeks total return over time, consistent with its strategic target allocation.
Principal investment strategy
"The Fund is a fund of funds that invests in various master portfolios (""Underlying Funds""), which in turn, invest in a combination of securities to gain exposure to equity and fixed income asset classes. The Fund gradually reduces its potential market risk exposures over time by generally re-allocating its assets among these asset classes, consistent with increasingly conservative strategic target allocations. The equity Underlying Funds are each intended to provide exposure to a specific market segment. Those segments include U.S. large- and small-capitalization companies, international (non-U.S.) developed and emerging markets, and real estate. The large- and small-cap companies, international developed markets and emerging markets allocations are designed to track (replicate the performance of) indexes created with a proprietary methodology.
This methodology is designed to provide exposure to specific factors (or characteristics) that are commonly tied to a stock's potential for enhanced risk-adjusted returns relative to the market. Those factors include, but are not limited to value, quality, momentum, small size, and low volatility. The process to construct each index begins with a reference index universe and systematically excludes constituents based on their expected contribution to projected risk and return of that overall universe. Each constituent's expected contribution to the overall risk and return of the universe is a function of that constituent's factor exposures and the volatility of each factor. The U.S. large-company and small-cap company indexes are expected to rebalance semi-annually, while the international developed and emerging market indexes are expected to rebalance on a quarterly basis.
The large-cap company allocation will be managed to replicate the performance of the Wells Fargo Factor Enhanced Large Cap Index. The small-cap company allocation will be managed to replicate the performance of the Wells Fargo Factor Enhanced Small Cap Index. The developed international allocation will be managed to replicate the performance of the Wells Fargo Factor Enhanced International Index. The emerging markets allocation will be managed to replicate the performance of the Wells Fargo Factor Enhanced Emerging Market Index. The fixed income Underlying Funds provide diversified exposure across a wide range of market sectors, including U.S. Government obligations, investment grade corporate bonds, below investment grade bonds (commonly known as ""high yield bonds"" or ""junk bonds""), other U.S.
bond sectors (including mortgage- and asset-backed securities), and emerging markets foreign issues. The investment grade corporate bond and below investment grade corporate bond allocations will be managed to replicate the performance of indexes created with a proprietary index methodology. The methodology is designed to provide broadly diversified fixed income exposure and is constructed to enhance issuer diversification and liquidity versus other standard traditional passive bond indexes. Specifically, the indexes first reweight the reference index universe of securities to limit concentration in the largest issuers and remove lower liquidity securities. They then reweight across size groupings to better align the yield and duration characteristics of the index with the original reference index, while at the same time maintaining the greater diversification and increased liquidity achieved through the prior step.
The indexes rebalance monthly. The investment grade corporate bond allocation will be managed to replicate the performance of the Wells Fargo U.S. Investment Grade Corporate Bond Index. The below investment grade bond allocation will be managed to replicate the performance of the Wells Fargo U.S. High Yield Bond Index. The U.S. aggregate bond ex-corporate allocation, which includes mortgage- and asset-backed securities, will be managed to replicate the performance of the Bloomberg Barclays US Aggregate ex- Corporate Index, a traditional market-capitalization weighted index designed to provide diversified exposure to the allocation. The index rebalances monthly. The emerging markets bond allocation will be managed to replicate the performance of the JP Morgan EMBI Global Diversified Index, an index that deviates from a traditional market capitalization weighting to provide more robust diversification across its constituent countries; the index rebalances monthly.
The Fund is primarily designed for investors expecting to retire and/or begin withdrawing funds around its target date of 2035. As the Fund's time horizon to its target date shortens, it generally replaces some of its equity holdings with fixed income holdings in an attempt to reduce market risk and thereby become more conservative in its asset allocation. This reallocation occurs according to a predetermined ""glide path,"" which was developed based on long-term capital market return expectations, actuarial assumptions about life expectancy and retirement, and assumptions about investors' risk tolerance. The reallocation continues as the Fund's target year approaches and for the first ten years afterward. The Fund's target year of 2035 serves as a guide to the risk profile of the Fund, and your decision to invest in a Wells Fargo Dynamic Target Date Fund with a particular target year and risk profile depends on your individual risk tolerance, among other factors.
The Fund will not reach its lowest strategic target allocation to equities until ten years past the Fund's target year. During the ten-year period after the Fund's target year, the Fund's asset allocation will increasingly resemble that of the Wells Fargo Dynamic Target Today Fund and at the end of the ten-year period, we will likely combine it with the Wells Fargo Dynamic Target Today Fund. The Fund will incorporate a derivatives overlay strategy that contains three specific risk management components: 1.) Tactical Asset Allocation (TAA) Overlay, 2.) Volatility Management Overlay (VMO), and 3.) Put Replication Overlay (PRO). Together these strategies will allow the Fund to attempt to manage short-term volatility, mitigate risk and/or improve returns under certain market conditions. To execute this overlay strategy, the Fund invests in long and/or short positions in exchange-traded futures and/or currency forward contracts across a variety of asset classes, which include, but are not limited to, stocks, bonds, and currencies.
1. The Tactical Asset Allocation (TAA) Overlay seeks to improve the Fund's risk return profile through the tactical use of futures and/or currency forward contracts. The TAA Overlay uses qualitative and quantitative inputs to guide equity and fixed income exposures in the Fund. The TAA Overlay may increase exposures to a given asset class under certain market conditions while decreasing exposure during others. 2. The Volatility Management Overlay (VMO) seeks to keep the Fund's short-term volatility in-line with its strategic long-term target. The VMO uses quantitative inputs and strives to decrease the portfolio's effective equity exposure when projected equity market volatility is higher than average, and increasing the portfolio's effective equity exposure when projected equity market volatility is lower than average.
The VMO may increase exposures to a given asset class under certain market conditions while decreasing exposure during others. 3. The Put Replication Overlay (PRO) is a quantitatively driven, structured hedging component designed to buffer the Fund against portfolio losses. Although executed using futures contracts, this component is designed substantially to replicate the payout structure of a theoretical protective put option on a given portfolio. The PRO will only seek to decrease market exposure under certain market conditions. At any point, as a result of the utilization of the futures overlay and changes otherwise implemented by the portfolio managers, there may be significant divergences between the effective asset allocation of the Fund and its strategic target allocation. The glide path (as of the date of this prospectus) is detailed in the chart below.
The glide path visual depicts the strategic equity allocation of the Wells Fargo Dynamic Target Date Funds over time. At their discretion, the Fund's portfolio managers may make changes to the Fund's glide path and asset allocation. Portfolio Asset Allocation The following table provides the Fund's target allocations to various underlying portfolios as of its most recent fiscal year end. Portfolio Target Allocation Equity Securities Wells Fargo Factor Enhanced Large Cap Portfolio 40.75% Wells Fargo Factor Enhanced International Portfolio 24.69% Wells Fargo Factor Enhanced Small Cap Portfolio 10.19% Wells Fargo Factor Enhanced Emerging Markets Portfolio 7.38% Wells Fargo U.S. REIT Portfolio 0.00% Fixed Income Securities Wells Fargo Bloomberg Barclays U.S. Aggregate ex-Corp Portfolio 10.06% Wells Fargo Investment Grade Corporate Bond Portfolio 5.24% Wells Fargo High Yield Corporate Bond Portfolio 0.85% Wells Fargo Emerging Markets Bond Portfolio 0.85% Wells Fargo Strategic Retirement Bond Portfolio (includes both TIPs & Intermediate Government Bond allocations) 0.00%"
C000156883 Holdings
Top 10 holdings of Allspring Dynamic Target 2035 Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 29.52% |
| Allspring Factor Enhanced International Equity Portfolio | 22.22% |
| Allspring Bloomberg US Aggregate ex-Corporate Portfolio | 12.32% |
| Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 9.50% |
| Allspring Factor Enhanced Emerging Markets Equity Portfolio | 6.54% |
| Allspring Investment Grade Corporate Bond Portfolio | 6.49% |
| Allspring Government Money Mar | 6.30% |
| Allspring Emerging Markets Bond Portfolio | 1.06% |
| Allspring High Yield Corporate Bond Portfolio | 1.04% |
| Allspring U.S. REIT Portfolio | 0.47% |
C000156883 Portfolio Allocation
Asset-class allocation of Allspring Dynamic Target 2035 Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 89.5% |
| Cash & Equivalents | 6.3% |
| Derivatives | 0.2% |
C000156883 Performance
Total returns for C000156883 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 6.7% |
| 3 years (annualised) | 4.0% |
C000156883 Risk Information
Risk metrics for C000156883, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 14.2%
C000156883 Costs and Fees
C000156883 costs about $29 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.29%
- Gross expense ratio: 0.64%
- Portfolio turnover: 75%
- Brokerage commissions: 2.31 bps of average net assets (SEC N-CEN)
C000156883 Cashflows
Over the 12 months to 2023-11, Allspring Dynamic Target 2035 Fund had net outflows of $9.65M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-11 | −$62.77K |
| 2023-10 | $718.43K |
| 2023-09 | $194.01K |
| 2023-08 | −$569.11K |
| 2023-07 | −$477.75K |
| 2023-06 | $265.83K |
C000156883 Debt Constituents
No individual debt constituents are reported in Allspring Dynamic Target 2035 Fund's latest SEC N-PORT filing.
C000156883 Prospectus and SEC Filings
Official Allspring Dynamic Target 2035 Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2023-06-23
- Prospectus (485BPOS) — filed 2022-08-26
- Prospectus (485BPOS) — filed 2022-06-24
- Portfolio holdings (N-PORT) — filed 2024-01-26
- Portfolio holdings (N-PORT) — filed 2023-10-27
- Portfolio holdings (N-PORT) — filed 2023-07-27
- Annual census (N-CEN) — filed 2023-04-28
- Annual census (N-CEN) — filed 2022-05-16
Related Funds
Other Target Date / Glide Path Allocation funds tracked on ABC INVEST:
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.