Wells Fargo High Yield Corporate Bond Fund

C000191029 Fund Overview

Wells Fargo High Yield Corporate Bond Fund is a US mutual fund managed by Allspring Funds Trust, categorised as Corporate Bond. 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: Corporate Bond
• Assets under management: $922.39K
• SEC CIK: 0001081400
• SEC series ID: S000058277
• Share class ID: C000191029

C000191029 Investment Objective and Strategy

Wells Fargo High Yield Corporate Bond 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 to replicate the total return of the Wells Fargo U.S. High Yield Bond Index (the ""Index""), before fees and expenses."

Principal investment strategy

"The Fund is a feeder fund that invests substantially all of its assets in the Wells Fargo High Yield Corporate Bond Portfolio (the ""Master Portfolio""), a master portfolio with an identical investment objective that invests, under normal circumstances, at least 80% of its net assets in a diversified portfolio of U.S. dollar denominated below investment grade fixed income securities issued by U.S. or foreign issuers designed to replicate the performance of the Index. The Master Portfolio generally invests its assets in a broadly diversified collection of fixed income securities that, in the aggregate, approximates the Index, in terms of key risk factors and other characteristics. This rules-based proprietary Index is designed to measure the performance of publicly issued U.S. dollar denominated below investment grade corporate debt securities (often called ""high yield"" securities or ""junk bonds"") issued by U.S.

or foreign issuers. The Index is constructed to provide increased diversification and liquidity versus traditional high yield bond indexes. Specifically, the Index first reweights the reference index universe of securities to limit concentration in the largest issuers and remove lower liquidity securities. The Index is then reweighted 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 Index includes publicly issued U.S. dollar denominated, non-investment grade, fixed rate, taxable corporate bonds that have a remaining maturity of at least one year, regardless of optionality, and are rated high yield (Ba1/BB+/BB+ or below) using the middle rating of Moody's, S&P and Fitch; when a rating from only two agencies is available, the lower is used; when only one agency rates a bond, that rating is used.

In cases where explicit bond level ratings may not be available, other sources may be used to classify securities by credit quality. The Index rebalances monthly. The Master Portfolio may invest up to 20% of its assets in instruments that are not fixed income securities, but which its portfolio managers believe are highly correlated to the Index (such as futures and other derivatives) for the purpose of managing ongoing cash flows. Rather than purchase every security in the Index, the Master Portfolio uses an optimization process which seeks to balance the replication of index performance with the minimization of security transaction costs. Using a stratified sampling technique, securities are selected and purchased in order to construct a portfolio that exhibits characteristics and performance of the Index, without incurring the transaction costs associated with purchasing every security in the Index.

A precise duplication of the Index would mean that the net asset value (""NAV"") of Master Portfolio shares, including income and capital gains, would increase or decrease in exact proportion to changes in the Index. Such an exact replication is not feasible. The Master Portfolio's ability to track the performance of the Index may be affected by, among other things, its sampling technique, transaction costs and shareholder purchases and redemptions. The Master Portfolio's portfolio managers continually monitor the performance and composition of the Index and adjust the Master Portfolio's holdings as necessary to reflect any changes to the Index. Under normal circumstances, the Master Portfolio is expected to concentrate its investments in an industry to approximately the same extent that the Index is concentrated in such industry.

The components of the Index may change over time and the Index may or may not be concentrated in an industry at any particular time."

C000191029 Costs and Fees

C000191029 costs about $0 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.00%
• Gross expense ratio: 7.29%
• Portfolio turnover: 52%
• Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

C000191029 Cashflows

Over the 12 months to 2020-05, Wells Fargo High Yield Corporate Bond Fund had net inflows of $0, from monthly SEC N-PORT filings.

C000191029 Debt Constituents

No individual debt constituents are reported in Wells Fargo High Yield Corporate Bond Fund's latest SEC N-PORT filing.

C000191029 Prospectus and SEC Filings

Official Wells Fargo High Yield Corporate Bond Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2020-07-15
• Prospectus (485BPOS) — filed 2019-07-09
• Prospectus (485BPOS) — filed 2018-07-03
• Portfolio holdings (N-PORT) — filed 2020-07-30
• Portfolio holdings (N-PORT) — filed 2020-04-29
• Portfolio holdings (N-PORT) — filed 2020-01-28
• Annual census (N-CEN) — filed 2020-05-13
• Annual census (N-CEN) — filed 2019-05-14

Related Funds

Other Corporate Bond funds tracked on ABC INVEST:

• First Trust Preferred Securities and Income ETF (FPE)
• Nuveen Preferred Securities and Income Fund (NPSAX)
• Spectrum Preferred and Capital Securities Income Fund (PNARX)
• Invesco Variable Rate Preferred ETF (VRP)
• First Trust Institutional Preferred Securities and Income ETF (FPEI)

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.