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Allspring High Yield Bond Fund
mutual fund
EKHYX
Payout Change
Pending
Price as of:
$3.03
+0.01
+0.33%
primary theme
High Yield Bond
share class
EKHYX (Mutual Fund)
Allspring High Yield Bond Fund
Payout Change
Pending
Price as of:
$3.03
+0.01
+0.33%
primary theme
High Yield Bond
share class
EKHYX (Mutual Fund)
Allspring High Yield Bond Fund
Payout Change
Pending
Price as of:
$3.03
+0.01
+0.33%
primary theme
High Yield Bond
share class
Name
As of 12/24/2024Price
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
Vitals
YTD Return
7.5%
1 yr return
7.5%
3 Yr Avg Return
2.1%
5 Yr Avg Return
2.9%
Net Assets
$290 M
Holdings in Top 10
10.8%
52 WEEK LOW AND HIGH
$3.0
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.97%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 49.00%
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 12/24/2024Price
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
EKHYX - Profile
Distributions
- YTD Total Return 7.5%
- 3 Yr Annualized Total Return 2.1%
- 5 Yr Annualized Total Return 2.9%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 3.42%
- Dividend Yield 6.8%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameAllspring High Yield Bond Fund
-
Fund Family NameAllspring Funds
-
Inception DateApr 14, 1998
-
Shares OutstandingN/A
-
Share ClassAdmin
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerChris Lee
Fund Description
Under normal circumstances, we invest:
| ■ | at least 80% of the Fund’s net assets in debt securities that are below-investment grade; and |
| ■ | up to 10% of the Fund’s total assets in equity securities, including common and preferred stocks. |
We invest principally in below investment-grade debt securities (often called “high yield” securities or “junk bonds”) of corporate issuers. These include traditional corporate bonds as well as convertible bonds. These securities may have fixed, floating or variable rates. We may invest in below investment-grade debt securities of any credit quality. The average credit quality of the Fund’s portfolio is expected to be equivalent to B or higher based on the credit ratings assigned to underlying securities by Moody’s, Standard & Poor’s, from other Nationally Recognized Statistical Ratings Organizations, or our credit quality assessment of the underlying securities. We expect the Fund’s average effective duration to generally be within 1.0 year of the benchmark’s duration. We may also use futures for duration and yield curve management. We may invest up to 15% of the Fund’s total assets in leveraged loans. We may invest up to 10% of the Fund’s total assets in equity securities, including common and preferred stocks. The criteria and investment process used to select equity securities is substantially similar to those used to select non-investment grade debt securities. We seek out companies that we believe have strong fundamental and valuation attributes, including companies that reorganized and emerged or are expected to emerge from bankruptcy. We may invest in equity securities of companies of any size.
Securities in the Fund’s portfolio may be issued by domestic or foreign issuers (including foreign governments), and may include securities of emerging markets issuers. The Fund may invest up to 10% of the Fund’s total assets in foreign currency-denominated fixed income securities issued by foreign or domestic issuers.
We use security selection, comprehensive research and tactical portfolio management to capitalize on opportunities in rapidly evolving credit markets. Our investment process features tactical levers, including security selection, sector reviews, our proprietary RADS calibration tool, and macro insights, and a 6-month horizon to seize market opportunities, identify relative value, and construct a diversified portfolio. As part of our investment process, an assessment of environmental, social and governance (ESG) factors that are deemed to have material business and/or financial risk may be considered alongside other relevant factors, which may include but are not limited to financial data and metrics, pricing information, issue characteristics and issue structure. The ESG factors utilized in the fund’s investment process may change over time, some factors may not be relevant with respect to all issuers and may or may not be determinative in the security selection process. Our credit standards checklist, ESG assessment, and timely recommendations are integral to our underwriting and generating best ideas. We regularly review sectors to assess industry fundamentals and relative valuation to generate sector thesis and targeted sector weights. Our proprietary RADS Calibration tool divides the high yield market into quadrants based on spread and duration, and helps us connect investment ideas to tactical levers, and to ensure individual investments contribute to key portfolio objectives. We develop investment themes harnessing macro and fundamental insights developed from across the Allspring Fixed Income Platform. We employ a 6-month horizon to identify bonds with spread tightening catalysts and anticipate market inflection points. We seek diversified sources of alpha and to capitalize on mispriced risk in the leverage finance markets.
We regularly review the investments of the portfolio and may sell a portfolio holding when it has achieved its valuation target, there is deterioration in the underlying fundamentals of the business, or we have identified a more attractive investment opportunity.
EKHYX - Performance
Return Ranking - Trailing
| Period | EKHYX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 7.5% | -8.8% | 17.7% | 57.26% |
| 1 Yr | 7.5% | -9.2% | 18.4% | 65.84% |
| 3 Yr | 2.1%* | -14.6% | 21.0% | 64.64% |
| 5 Yr | 2.9%* | -12.0% | 36.6% | 74.24% |
| 10 Yr | 4.1%* | -4.8% | 20.1% | 54.37% |
* Annualized
Return Ranking - Calendar
| Period | EKHYX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 4.2% | -4.7% | 14.3% | 74.18% |
| 2022 | -15.5% | -33.4% | 3.6% | 50.33% |
| 2021 | -0.6% | -8.4% | 8.2% | 73.97% |
| 2020 | 1.5% | -13.2% | 302.7% | 18.47% |
| 2019 | 10.5% | -4.4% | 13.3% | 6.20% |
Total Return Ranking - Trailing
| Period | EKHYX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 7.5% | -8.8% | 17.7% | 57.26% |
| 1 Yr | 7.5% | -9.2% | 18.4% | 65.84% |
| 3 Yr | 2.1%* | -14.6% | 21.0% | 64.64% |
| 5 Yr | 2.9%* | -12.0% | 36.6% | 74.24% |
| 10 Yr | 4.1%* | -4.8% | 20.1% | 54.37% |
* Annualized
Total Return Ranking - Calendar
| Period | EKHYX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 11.6% | -4.7% | 18.7% | 65.13% |
| 2022 | -10.9% | -33.4% | 47.8% | 54.65% |
| 2021 | 3.0% | -8.4% | 12.4% | 87.41% |
| 2020 | 5.9% | -9.6% | 325.6% | 40.85% |
| 2019 | 15.8% | -3.8% | 21.6% | 11.13% |
NAV & Total Return History
EKHYX - Holdings
Concentration Analysis
| EKHYX | Category Low | Category High | EKHYX % Rank | |
|---|---|---|---|---|
| Net Assets | 290 M | 3.13 M | 25.3 B | 69.34% |
| Number of Holdings | 258 | 2 | 3879 | 68.86% |
| Net Assets in Top 10 | 30.5 M | -492 M | 5.25 B | 76.61% |
| Weighting of Top 10 | 10.78% | 4.2% | 146.0% | 70.68% |
Top 10 Holdings
- ALLSPRING GOVERNMENT MONEY MAR 1.79%
- CCM Merger Inc 1.15%
- Iron Mountain Inc 1.12%
- Bristow Group Inc 1.03%
- GIP III Stetson I LP 2023 Term Loan B 0.99%
- Werner FinCo LP / Werner FinCo Inc 0.96%
- CCO Holdings LLC / CCO Holdings Capital Corp 0.94%
- Air Canada 2020-1 Class C Pass Through Trust 0.94%
- Camelot Return Merger Sub Inc 0.93%
- CoreCivic Inc 0.92%
Asset Allocation
| Weighting | Return Low | Return High | EKHYX % Rank | |
|---|---|---|---|---|
| Bonds | 97.20% | 0.00% | 145.36% | 19.51% |
| Cash | 2.69% | -52.00% | 48.02% | 69.19% |
| Convertible Bonds | 0.22% | 0.00% | 17.89% | 89.46% |
| Other | 0.11% | -39.08% | 99.86% | 35.42% |
| Stocks | 0.01% | 0.00% | 97.54% | 70.33% |
| Preferred Stocks | 0.00% | 0.00% | 4.97% | 58.81% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | EKHYX % Rank | |
|---|---|---|---|---|
| Energy | 50.30% | 0.00% | 100.00% | 40.95% |
| Real Estate | 49.70% | 0.00% | 86.71% | 1.19% |
| Utilities | 0.00% | 0.00% | 100.00% | 47.77% |
| Technology | 0.00% | 0.00% | 33.17% | 48.96% |
| Industrials | 0.00% | 0.00% | 93.12% | 49.55% |
| Healthcare | 0.00% | 0.00% | 22.17% | 37.98% |
| Financial Services | 0.00% | 0.00% | 100.00% | 47.77% |
| Communication Services | 0.00% | 0.00% | 99.99% | 66.17% |
| Consumer Defense | 0.00% | 0.00% | 100.00% | 40.65% |
| Consumer Cyclical | 0.00% | 0.00% | 100.00% | 57.57% |
| Basic Materials | 0.00% | 0.00% | 100.00% | 47.18% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | EKHYX % Rank | |
|---|---|---|---|---|
| US | 0.01% | 0.00% | 97.54% | 68.53% |
| Non US | 0.00% | -0.01% | 2.00% | 41.68% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | EKHYX % Rank | |
|---|---|---|---|---|
| Corporate | 94.24% | 0.00% | 100.00% | 53.96% |
| Cash & Equivalents | 1.79% | 0.00% | 48.02% | 71.00% |
| Securitized | 0.81% | 0.00% | 97.24% | 26.07% |
| Derivative | 0.00% | -14.58% | 42.26% | 49.26% |
| Municipal | 0.00% | 0.00% | 1.17% | 31.35% |
| Government | 0.00% | 0.00% | 99.07% | 52.31% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | EKHYX % Rank | |
|---|---|---|---|---|
| US | 97.20% | 0.00% | 126.57% | 16.14% |
| Non US | 0.00% | 0.00% | 96.91% | 58.32% |
EKHYX - Expenses
Operational Fees
| EKHYX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.97% | 0.02% | 38.33% | 50.00% |
| Management Fee | 0.55% | 0.00% | 1.75% | 44.01% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 3.99% |
| Administrative Fee | 0.10% | 0.00% | 0.50% | 47.57% |
Sales Fees
| EKHYX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.25% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| EKHYX 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.
| EKHYX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 49.00% | 1.00% | 255.00% | 28.60% |
EKHYX - Distributions
Dividend Yield Analysis
| EKHYX | Category Low | Category High | EKHYX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 6.83% | 0.00% | 11.76% | 18.00% |
Dividend Distribution Analysis
| EKHYX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | SemiAnnual | Monthly | Monthly |
Net Income Ratio Analysis
| EKHYX | Category Low | Category High | EKHYX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 3.42% | -2.39% | 9.30% | 86.91% |
Capital Gain Distribution Analysis
| EKHYX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 29, 2024 | $0.017 | OrdinaryDividend |
| Oct 31, 2024 | $0.018 | OrdinaryDividend |
| Sep 30, 2024 | $0.017 | OrdinaryDividend |
| Aug 30, 2024 | $0.017 | OrdinaryDividend |
| Jul 31, 2024 | $0.017 | OrdinaryDividend |
| Apr 30, 2024 | $0.016 | OrdinaryDividend |
| Mar 28, 2024 | $0.017 | OrdinaryDividend |
| Feb 29, 2024 | $0.017 | OrdinaryDividend |
| Jan 31, 2024 | $0.017 | OrdinaryDividend |
| Dec 29, 2023 | $0.017 | OrdinaryDividend |
| Nov 30, 2023 | $0.017 | OrdinaryDividend |
| Oct 31, 2023 | $0.018 | OrdinaryDividend |
| Sep 29, 2023 | $0.017 | OrdinaryDividend |
| Aug 31, 2023 | $0.017 | OrdinaryDividend |
| Jul 31, 2023 | $0.017 | OrdinaryDividend |
| Jun 30, 2023 | $0.018 | OrdinaryDividend |
| May 31, 2023 | $0.018 | OrdinaryDividend |
| Apr 28, 2023 | $0.017 | OrdinaryDividend |
| Mar 31, 2023 | $0.017 | OrdinaryDividend |
| Feb 28, 2023 | $0.015 | OrdinaryDividend |
| Jan 31, 2023 | $0.013 | OrdinaryDividend |
| Dec 29, 2022 | $0.014 | OrdinaryDividend |
| Nov 29, 2022 | $0.014 | OrdinaryDividend |
| Oct 28, 2022 | $0.013 | OrdinaryDividend |
| Sep 29, 2022 | $0.013 | OrdinaryDividend |
| Aug 30, 2022 | $0.013 | OrdinaryDividend |
| Jul 28, 2022 | $0.013 | OrdinaryDividend |
| Jun 29, 2022 | $0.012 | OrdinaryDividend |
| May 30, 2022 | $0.013 | OrdinaryDividend |
| Apr 28, 2022 | $0.013 | OrdinaryDividend |
| Mar 30, 2022 | $0.012 | OrdinaryDividend |
| Feb 25, 2022 | $0.012 | OrdinaryDividend |
| Jan 28, 2022 | $0.011 | OrdinaryDividend |
| Dec 31, 2021 | $0.010 | OrdinaryDividend |
| Nov 30, 2021 | $0.009 | OrdinaryDividend |
| Oct 31, 2021 | $0.009 | OrdinaryDividend |
| Sep 30, 2021 | $0.009 | OrdinaryDividend |
| Aug 31, 2021 | $0.009 | OrdinaryDividend |
| Jul 31, 2021 | $0.010 | OrdinaryDividend |
| Jun 30, 2021 | $0.009 | OrdinaryDividend |
| May 31, 2021 | $0.009 | OrdinaryDividend |
| Apr 30, 2021 | $0.007 | OrdinaryDividend |
| Mar 31, 2021 | $0.009 | OrdinaryDividend |
| Feb 28, 2021 | $0.010 | OrdinaryDividend |
| Jan 31, 2021 | $0.010 | OrdinaryDividend |
| Dec 31, 2020 | $0.010 | OrdinaryDividend |
| Nov 30, 2020 | $0.010 | OrdinaryDividend |
| Oct 30, 2020 | $0.010 | OrdinaryDividend |
| Sep 30, 2020 | $0.010 | OrdinaryDividend |
| Aug 31, 2020 | $0.010 | OrdinaryDividend |
| Jul 31, 2020 | $0.011 | OrdinaryDividend |
| Jun 30, 2020 | $0.011 | OrdinaryDividend |
| May 29, 2020 | $0.011 | OrdinaryDividend |
| Apr 30, 2020 | $0.011 | OrdinaryDividend |
| Mar 31, 2020 | $0.011 | OrdinaryDividend |
| Feb 28, 2020 | $0.011 | OrdinaryDividend |
| Jan 31, 2020 | $0.011 | OrdinaryDividend |
| Dec 31, 2019 | $0.011 | OrdinaryDividend |
| Nov 29, 2019 | $0.011 | OrdinaryDividend |
| Oct 31, 2019 | $0.012 | OrdinaryDividend |
| Sep 30, 2019 | $0.011 | OrdinaryDividend |
| Aug 30, 2019 | $0.012 | OrdinaryDividend |
| Jul 31, 2019 | $0.012 | OrdinaryDividend |
| Jun 28, 2019 | $0.012 | OrdinaryDividend |
EKHYX - Fund Manager Analysis
Managers
Chris Lee
Start Date
Tenure
Tenure Rank
Dec 13, 2021
0.46
0.5%
Mr. Lee joined KKR Capital Markets in the Real Estate Group in 2012. He is responsible for KKR’s Real Estate business in the Americas, overseeing both equity and credit investing platforms in the region. Mr. Lee is currently Vice Chairman of the Board of Directors of KKR Real Estate Finance Trust Inc. (NYSE: KREF) where he previously served as Co-Chief Executive Officer and Co-President since October 2015 and March 2016, respectively, through March 2020. He sits on KKR’s Real Estate Equity and Credit Investment Committees in the Americas, KKR’s Real Estate Equity and Credit Portfolio Management Committees in the Americas, KKR’s Inclusion and Diversity Council and chairs KKR’s Real Estate Valuation Committee. Prior to joining KKR, Mr. Lee spent three years at Apollo Global Management on their global real estate team where he focused on real estate acquisitions. He also worked at Goldman Sachs in the merchant banking division’s real estate principal investment area (REPIA) for over five years after spending two years in the investment banking division. Mr. Lee earned his MBA from Harvard Business School and his Bachelor’s degree in Economics from Emory University
Michael Schueller
Start Date
Tenure
Tenure Rank
Dec 13, 2021
0.46
0.5%
Michael (Mike) Schueller is a senior portfolio manager for the Plus Fixed Income team at Allspring Global Investments. He joined Allspring from its predecessor firm, Wells Fargo Asset Management (WFAM). He joined WFAM as a senior investment research analyst from Strong Capital Management, where he held a similar position. Mike rejoined Strong in 2000, having left the firm to start a trust department for Community Bank & Trust in Sheboygan, Wisconsin. Before that, he served as associate counsel for Strong’s legal department. Prior to this, Mike practiced law with Reinhart, Boerner, Van Deuren, Norris & Rieselbach, S.C., in Milwaukee, specializing in corporate reorganizations, mergers, and acquisitions. He began his investment industry career in 1998. Mike earned a bachelor’s degree in economics from the University of Minnesota and a law degree from the University of Wisconsin, Madison. He has earned the right to use the Chartered Financial Analyst® (CFA®) designation.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.13 | 37.79 | 7.31 | 8.17 |
