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Allspring Discovery All Cap Growth Fund
mutual fund
EKONX
Payout Change
Pending
Price as of:
$63.37
+0.76
+1.21%
primary theme
N/A
share class
EKONX (Mutual Fund)
Allspring Discovery All Cap Growth Fund
Payout Change
Pending
Price as of:
$63.37
+0.76
+1.21%
primary theme
N/A
share class
EKONX (Mutual Fund)
Allspring Discovery All Cap Growth Fund
Payout Change
Pending
Price as of:
$63.37
+0.76
+1.21%
primary theme
N/A
share class
Name
As of 07/26/2024Price
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
8.8%
1 yr return
17.1%
3 Yr Avg Return
-2.4%
5 Yr Avg Return
9.5%
Net Assets
$784 M
Holdings in Top 10
41.6%
52 WEEK LOW AND HIGH
$62.6
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.96%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 24.00%
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 07/26/2024Price
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
EKONX - Profile
Distributions
- YTD Total Return 8.8%
- 3 Yr Annualized Total Return -2.4%
- 5 Yr Annualized Total Return 9.5%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.49%
- Dividend Yield 0.0%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameAllspring Discovery All Cap Growth Fund
-
Fund Family NameAllspring Funds
-
Inception DateJul 30, 2010
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMichael Smith
Fund Description
Under normal circumstances,
| ■ | the Fund invests at least 80% of its total assets in equity securities; and |
| ■ | may invest up to 25% of its total assets in equity securities of foreign issuers, including ADRs and similar investments. |
We may invest in the equity securities of companies of any market capitalization.
We seek to identify companies that have the prospect for strong sales and earnings growth rates, that enjoy a competitive advantage (for example, dominant market share) and that we believe have effective management with a history of making investments that are in the best interests of shareholders (for example, companies with a history of earnings and sales growth that are in excess of total asset growth). Furthermore, we seek to identify companies that embrace innovation and foster disruption using technology to maximize efficiencies, gain pricing advantages, and take market share from competitors. We view innovative companies as those that, among other characteristics, have the ability to advance new products or services through investment in research and development, that operate a business model that is displacing legacy industry incumbents, that are pursuing a large unmet need or total available market. We believe innovation found in companies on the “right side of change” is often mispriced in today’s public equity markets and is a frequent signal or anomaly that we seek to exploit through our investment process. An important criteria for “right side of change” companies is that they are benefiting from changes in technological, demographic, lifestyle, or environmental trends We pay particular attention to how management teams allocate capital in order to drive future cash flow. This includes the allocation of human capital, financial capital, and social capital. We believe successful allocation of such resources has a correlation with key indicators of future performance. Price objectives are determined based on industry-specific valuation methodologies, including relative price-to-earnings multiples, price-to-book value, operating profit margin trends, enterprise value to EBITDA (earnings before interest, taxes, depreciation and amortization) and free cash flow yield. In addition to meeting with management, we take a surround the company approach by surveying a company’s vendors, distributors, competitors and customers to obtain multiple perspectives that help us make better investment decisions. Portfolio holdings are continuously monitored for changes in fundamentals. The team seeks a favorable risk/reward relationship to fair valuation, which we define as the value of the company (i.e., our price target for the stock) relative to where the stock is currently trading. We may invest in any sector, and at times the Fund may emphasize one or more particular sectors. We may choose to sell a holding when it no longer offers favorable growth prospects, reaches our target price, or to take advantage of a better investment opportunity.
EKONX - Performance
Return Ranking - Trailing
| Period | EKONX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 8.8% | -6.7% | 29.7% | 88.60% |
| 1 Yr | 17.1% | -13.2% | 50.8% | 83.10% |
| 3 Yr | -2.4%* | -31.5% | 22.5% | 92.00% |
| 5 Yr | 9.5%* | -14.8% | 27.5% | 89.86% |
| 10 Yr | 11.3%* | -5.0% | 19.3% | 75.31% |
* Annualized
Return Ranking - Calendar
| Period | EKONX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 28.0% | -74.1% | 72.4% | 62.87% |
| 2022 | -42.0% | -85.9% | 4.7% | 86.47% |
| 2021 | 3.2% | -52.4% | 60.5% | 66.00% |
| 2020 | 36.1% | -34.3% | 145.0% | 22.63% |
| 2019 | 30.6% | -21.8% | 49.4% | 16.86% |
Total Return Ranking - Trailing
| Period | EKONX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 8.8% | -6.7% | 29.7% | 88.60% |
| 1 Yr | 17.1% | -13.2% | 50.8% | 83.10% |
| 3 Yr | -2.4%* | -31.5% | 22.5% | 92.00% |
| 5 Yr | 9.5%* | -14.8% | 27.5% | 89.86% |
| 10 Yr | 11.3%* | -5.0% | 19.3% | 75.31% |
* Annualized
Total Return Ranking - Calendar
| Period | EKONX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 33.6% | -4.6% | 72.4% | 65.08% |
| 2022 | -37.1% | -61.7% | 5.6% | 82.71% |
| 2021 | 15.2% | -39.8% | 118.1% | 79.60% |
| 2020 | 43.4% | 2.8% | 149.2% | 25.63% |
| 2019 | 37.3% | -5.2% | 49.4% | 12.62% |
NAV & Total Return History
EKONX - Holdings
Concentration Analysis
| EKONX | Category Low | Category High | EKONX % Rank | |
|---|---|---|---|---|
| Net Assets | 784 M | 242 K | 269 B | 61.56% |
| Number of Holdings | 55 | 2 | 3143 | 58.90% |
| Net Assets in Top 10 | 310 M | 109 K | 129 B | 64.59% |
| Weighting of Top 10 | 41.64% | 0.7% | 205.0% | 80.58% |
Top 10 Holdings
- Microsoft Corp 11.53%
- Amazon.com Inc 7.23%
- Meta Platforms Inc 4.19%
- Visa Inc 3.60%
- NVIDIA Corp 3.26%
- Alphabet Inc 3.02%
- Chipotle Mexican Grill Inc 2.69%
- Eli Lilly Co 2.12%
- Waste Connections Inc 2.00%
- Vertiv Holdings Co 2.00%
Asset Allocation
| Weighting | Return Low | Return High | EKONX % Rank | |
|---|---|---|---|---|
| Stocks | 99.97% | 0.00% | 134.69% | 5.78% |
| Cash | 0.13% | 0.00% | 173.52% | 85.10% |
| Preferred Stocks | 0.00% | 0.00% | 8.99% | 63.28% |
| Other | 0.00% | -44.39% | 49.06% | 63.98% |
| Convertible Bonds | 0.00% | 0.00% | 1.94% | 58.45% |
| Bonds | 0.00% | 0.00% | 103.97% | 59.77% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | EKONX % Rank | |
|---|---|---|---|---|
| Technology | 36.76% | 0.00% | 65.70% | 45.51% |
| Consumer Cyclical | 17.79% | 0.00% | 62.57% | 34.86% |
| Healthcare | 13.17% | 0.00% | 39.76% | 42.61% |
| Communication Services | 13.07% | 0.00% | 66.40% | 22.71% |
| Financial Services | 9.18% | 0.00% | 43.06% | 50.26% |
| Industrials | 6.02% | 0.00% | 30.65% | 55.28% |
| Basic Materials | 2.16% | 0.00% | 18.91% | 28.79% |
| Real Estate | 1.86% | 0.00% | 16.05% | 33.01% |
| Utilities | 0.00% | 0.00% | 16.07% | 70.69% |
| Energy | 0.00% | 0.00% | 41.09% | 80.19% |
| Consumer Defense | 0.00% | 0.00% | 25.50% | 94.28% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | EKONX % Rank | |
|---|---|---|---|---|
| US | 99.97% | 0.00% | 134.69% | 4.47% |
| Non US | 0.00% | 0.00% | 74.83% | 70.82% |
EKONX - Expenses
Operational Fees
| EKONX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.96% | 0.01% | 28.71% | 50.31% |
| Management Fee | 0.79% | 0.00% | 1.50% | 86.94% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 12.75% |
| Administrative Fee | 0.13% | 0.01% | 1.02% | 62.53% |
Sales Fees
| EKONX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.25% | 8.50% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| EKONX 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.
| EKONX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 24.00% | 0.00% | 316.74% | 32.60% |
EKONX - Distributions
Dividend Yield Analysis
| EKONX | Category Low | Category High | EKONX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 27.58% | 75.35% |
Dividend Distribution Analysis
| EKONX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | None | Annually | Annual | Annual |
Net Income Ratio Analysis
| EKONX | Category Low | Category High | EKONX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -0.49% | -6.13% | 3.48% | 63.38% |
Capital Gain Distribution Analysis
| EKONX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 11, 2023 | $2.796 | CapitalGainLongTerm |
| Dec 09, 2022 | $4.495 | CapitalGainLongTerm |
| Dec 09, 2021 | $10.159 | CapitalGainLongTerm |
| Dec 09, 2020 | $4.371 | CapitalGainLongTerm |
| Dec 10, 2019 | $3.099 | CapitalGainLongTerm |
| Dec 10, 2018 | $0.831 | CapitalGainShortTerm |
| Dec 10, 2018 | $4.979 | CapitalGainLongTerm |
| Dec 13, 2017 | $6.910 | CapitalGainLongTerm |
| Dec 09, 2016 | $1.150 | CapitalGainLongTerm |
| Dec 11, 2015 | $3.932 | CapitalGainLongTerm |
| Dec 11, 2014 | $1.267 | CapitalGainShortTerm |
| Dec 11, 2014 | $5.273 | CapitalGainLongTerm |
| Dec 09, 2013 | $0.974 | CapitalGainShortTerm |
| Dec 09, 2013 | $4.798 | CapitalGainLongTerm |
| Dec 07, 2012 | $1.413 | CapitalGainLongTerm |
EKONX - Fund Manager Analysis
Managers
Michael Smith
Start Date
Tenure
Tenure Rank
May 20, 2010
12.04
12.0%
Michael (Mike) Smith serves as managing director and senior portfolio manager for the Discovery Growth Equity team at Allspring Global Investments. In this role, Mike has oversight and portfolio management responsibility for all growth equity portfolios managed by the team. He joined Allspring from its predecessor firm, Wells Fargo Asset Management (WFAM). Mike joined WFAM in 2005 from Strong Capital Management, where he served as a senior research analyst focusing primarily on the healthcare sector. Prior to that, he served as a research analyst and trader at Conseco Capital Management. Mike began his investment industry career in 1999. He earned a bachelor's degree in economics from DePauw University. He has earned the right to use the Chartered Financial Analyst® (CFA®) designation.
Christopher Warner
Start Date
Tenure
Tenure Rank
May 26, 2016
6.02
6.0%
Christopher (Chris) Warner is a portfolio manager for the Discovery Growth Equity team at Allspring Global Investments. He joined Allspring from its predecessor firm, Wells Fargo Asset Management (WFAM). Prior to joining WFAM, Chris worked as an equity research associate following the enterprise software, systems management, and data storage industries for Citigroup in San Francisco. He has also worked as an equity analyst at Morningstar and PPM America, Inc. Chris’s related professional experience includes technology-consulting positions at Evolve Software and PricewaterhouseCoopers, LLP. He began his investment industry career in 2002. Chris earned a bachelor’s degree in business administration from the University of Illinois and a master’s degree in business administration with an emphasis in finance and corporate strategy from the Ross School of Business at the University of Michigan. He has earned the right to use the Chartered Financial Analyst® (CFA®) designation.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.04 | 54.45 | 8.23 | 3.08 |
