UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-09253
Allspring Funds Trust
(Exact name of registrant as specified in charter)
1415 Vantage Park Drive, 3rd Floor, Charlotte, NC 28203
(Address of principal executive offices) (Zip code)
Matthew Prasse
Allspring Funds Management, LLC
1415 Vantage Park Drive, 3rd Floor, Charlotte, NC 28203
(Name and address of agent for service)
Registrant’s telephone number, including area code: 800-222-8222
Date of fiscal year end: February 28
Registrant is making a filing for 12 of its series:
Allspring Dynamic Target Today Fund, Allspring Dynamic Target 2015 Fund, Allspring Dynamic Target 2020 Fund, Allspring Dynamic Target 2025 Fund, Allspring Dynamic Target 2030 Fund, Allspring Dynamic Target 2035 Fund, Allspring Dynamic Target 2040 Fund, Allspring Dynamic Target 2045 Fund, Allspring Dynamic Target 2050 Fund, Allspring Dynamic Target 2055 Fund, Allspring Dynamic Target 2060 Fund and Allspring Dynamic Target 2065 Fund.
Date of reporting period: February 28, 2023
ITEM 1. REPORT TO STOCKHOLDERS
![](https://capedge.com/proxy/N-CSR/0001193125-23-132105/g444832img83cbdd691.jpg)
■ | Allspring Dynamic Target Today Fund |
■ | Allspring Dynamic Target 2015 Fund |
■ | Allspring Dynamic Target 2020 Fund |
■ | Allspring Dynamic Target 2025 Fund |
■ | Allspring Dynamic Target 2030 Fund |
■ | Allspring Dynamic Target 2035 Fund |
■ | Allspring Dynamic Target 2040 Fund |
■ | Allspring Dynamic Target 2045 Fund |
■ | Allspring Dynamic Target 2050 Fund |
■ | Allspring Dynamic Target 2055 Fund |
■ | Allspring Dynamic Target 2060 Fund |
■ | Allspring Dynamic Target 2065 Fund |
2 | |
Performance highlights | |
7 | |
10 | |
13 | |
16 | |
19 | |
22 | |
25 | |
27 | |
29 | |
31 | |
33 | |
36 | |
40 | |
Portfolio of investments | |
45 | |
47 | |
49 | |
51 | |
53 | |
55 | |
57 | |
59 | |
61 | |
63 | |
65 | |
67 |
Financial statements | |
69 | |
73 | |
77 | |
Financial highlights | |
89 | |
94 | |
99 | |
104 | |
109 | |
114 | |
119 | |
124 | |
129 | |
134 | |
139 | |
144 | |
149 | |
173 | |
174 | |
180 |
![](https://capedge.com/proxy/N-CSR/0001193125-23-132105/g444832imgf979cea52.gif)
1 | The S&P 500 Index consists of 500 stocks chosen for market size, liquidity, and industry group representation. It is a market-value-weighted index with each stock's weight in the index proportionate to its market value. You cannot invest directly in an index. |
2 | The Morgan Stanley Capital International (MSCI) All Country World Index (ACWI) ex USA Index (Net) is a free-float-adjusted market-capitalization-weighted index that is designed to measure the equity market performance of developed and emerging markets, excluding the U.S. Source: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indexes or any securities or financial products. This report is not approved, reviewed, or produced by MSCI. You cannot invest directly in an index. |
3 | The MSCI Emerging Markets (EM) Index (Net) (USD) is a free-float-adjusted market-capitalization-weighted index that is designed to measure equity market performance of emerging markets. You cannot invest directly in an index. |
4 | The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the investment-grade, U.S.-dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable-rate mortgage pass-throughs), asset-backed securities, and commercial mortgage-backed securities. You cannot invest directly in an index. |
5 | The Bloomberg Global Aggregate ex-USD Index (unhedged) is an unmanaged index that provides a broad-based measure of the global investment-grade fixed-income markets excluding the U.S.-dollar-denominated debt market. You cannot invest directly in an index. |
6 | The Bloomberg Municipal Bond Index is an unmanaged index composed of long-term tax-exempt bonds with a minimum credit rating of Baa. You cannot invest directly in an index. |
7 | The ICE BofA U.S. High Yield Index is a market-capitalization-weighted index of domestic and Yankee high-yield bonds. The index tracks the performance of high-yield securities traded in the U.S. bond market. You cannot invest directly in an index. Copyright 2023. ICE Data Indices, LLC. All rights reserved. |
1 | The MSCI ACWI (Net) is a free-float-adjusted market-capitalization-weighted index that is designed to measure the equity market performance of developed and emerging markets. You cannot invest directly in an index. |
1 | The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. You cannot invest directly in an index. |
![](https://capedge.com/proxy/N-CSR/0001193125-23-132105/g444832imgc4dd56623.jpg)
President
Allspring Funds
Petros N. Bocray, CFA®‡, FRM
Travis Keshemberg, CFA®‡, CIPM, FRM#
‡ | CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute. |
# | Mr. Keshemberg became a portfolio manager of the Funds on March 24, 2022. |
Average annual total returns (%) as of February 28, 2023 | |||||||||||
Including sales charge | Excluding sales charge | Expense ratios1 (%) | |||||||||
Inception date | 1 year | 5 year | Since inception | 1 year | 5 year | Since inception | Gross | Net 2 | |||
Class A (WDYAX) | 11-30-2015 | -14.19 | 1.47 | 2.84 | -8.93 | 2.68 | 3.68 | 2.28 | 0.60 | ||
Class C (WDYCX) | 11-30-2015 | -10.28 | 2.27 | 3.16 | -9.28 | 2.27 | 3.16 | 3.03 | 1.35 | ||
Class R4 (WDYYX) | 11-30-2015 | – | – | – | -8.64 | 3.00 | 4.00 | 2.00 | 0.29 | ||
Class R6 (WDYZX) | 11-30-2015 | – | – | – | -8.50 | 3.15 | 4.16 | 1.85 | 0.14 | ||
Administrator Class (WDYDX)3 | 8-26-2022 | – | – | – | -8.85 | 2.80 | 3.87 | 2.20 | 0.49 | ||
S&P Target Date Retirement Income Index4 | – | – | – | – | -6.02 | 2.83 | 3.58 * | – | – | ||
Dynamic Target Today Blended Index5 | – | – | – | – | -8.18 | – | – | – | – |
* | Based on the inception date of the oldest Fund class. |
1 | Reflects the expense ratios as stated in the most recent prospectuses, which include the impact of 0.10% of acquired fund fees and expenses representing the net expenses from the affiliated master portfolios. The expense ratios shown are subject to change and may differ from the annualized expense ratios shown in the financial highlights of this report. |
2 | The manager has contractually committed through June 30, 2024, to waive fees and/or reimburse expenses to the extent necessary to cap total annual fund operating expenses after fee waivers at 0.60% for Class A, 1.35% for Class C, 0.29% for Class R4 and 0.14% for Class R6 and 0.49% for Administrator Class. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses (if any) from funds in which the underlying affiliated master portfolios invest and from money market funds, and extraordinary expenses are excluded from the expense caps. All other acquired fund fees and expenses from the affiliated master portfolios are included in the expense caps. Prior to or after the commitment expiration date, the caps may be increased or the commitment to maintain the caps may be terminated only with the approval of the Board of Trustees. Without these caps, the Fund’s returns would have been lower. The expense ratio paid by an investor is the net expense ratio (the total annual fund operating expenses after fee waivers) as stated in the prospectuses. |
3 | Historical performance shown for the Administrator Class shares prior to their inception reflects the performance of the Class R6 shares, and includes the higher expenses applicable to the Administrator Class shares. |
4 | The S&P Target Date Index is designed as a benchmark for multi-asset class portfolios with risk profiles that become more conservative over time, corresponding to the target retirement date. This index is representative of the investment opportunity available to investors for the target date horizon, with asset class exposures driven by a survey of available target date funds for that horizon. You cannot invest directly in an index. |
5 | Source: Allspring Funds Management, LLC. The Dynamic Target Blended Index is designed as a benchmark for multi-asset class portfolios with risk profiles that become more conservative over time, corresponding to the target retirement date. The index weightings among the major asset classes are adjusted annually. The inception date of the index is September 21, 2018. See Appendix for additional information. You cannot invest directly in an index. |
![](https://capedge.com/proxy/N-CSR/0001193125-23-132105/g444832img71e1cef84.jpg)
1 | The chart compares the performance of Class A shares since inception with the S&P Target Date Retirement Income Index and Dynamic Target Today Blended Index. The chart assumes a hypothetical investment of $10,000 in Class A shares and reflects all operating expenses and assumes the maximum initial sales charge of 5.75%. |
2 | The inception date of the index is September 21, 2018. |
Holdings (%) as of February 28, 20231 | |
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | 29.44 |
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 18.80 |
Allspring Investment Grade Corporate Bond Portfolio | 15.28 |
Allspring Strategic Retirement Bond Portfolio | 9.96 |
Allspring Factor Enhanced International Equity Portfolio | 9.82 |
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 4.71 |
Allspring U.S. REIT Portfolio | 3.24 |
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 2.81 |
Allspring High Yield Corporate Bond Portfolio | 2.51 |
Allspring Emerging Markets Bond Portfolio | 2.50 |
1 | Figures represent the percentage of the Fund's net assets. Holdings are subject to change and may have changed since the date specified. |
Allocation (%) as of February 28, 2023 | ||
Neutral allocation | Effective allocation1 | |
Bond Funds | 60 | 66 |
Stock Funds | 40 | 43 |
Effective Cash | 0 | (9) |
1 | Effective allocation includes the effect of any tactical futures overlay that may be in place. Effective cash, if any, represents the net offset to such future positions. The effective allocation does not reflect futures positions held in dynamic risk hedging strategies. Effective allocations are subject to change and may have changed since the date specified. |
Volatility metrics as of February 28, 20231 | |||
Beta 2 | Standard deviation3 | R-squared 4 | |
Class A | 1.16 | 9.96 | 0.97 |
Class C | 1.16 | 10.02 | 0.96 |
Class R4 | 1.17 | 10.00 | 0.97 |
Class R6 | 1.16 | 9.91 | 0.97 |
Administrator Class | 1.16 | 9.97 | 0.97 |
1 | These metrics show the degree and timing of the Fund’s fluctuations compared to S&P Target Date Retirement Income Index over 36 months. |
2 | Beta measures fund volatility relative to general market movements. It is a standardized measure of systematic risk in comparison with a specified index. The benchmark beta is 1.00 by definition. Beta is based on historical performance and does not represent future results. |
3 | Standard deviation is the square root of the sum of squared deviations from the mean. It is often used as a measure of volatility, variability, or risk. Standard deviation is based on historical performance and does not represent future results. |
4 | R-squared (R2) is a statistical measure that reflects the percentage of a fund’s movements that can be explained by movements in its benchmark index. The measure ranges from 0.0, which means that the fund’s performance bears no relationship to the performance of the index, to 1.0, which means that the fund’s performance was perfectly synchronized with the performance of the benchmark. R2 is based on historical performance and does not represent future results. |
Average annual total returns (%) as of February 28, 2023 | |||||||||||
Including sales charge | Excluding sales charge | Expense ratios1 (%) | |||||||||
Inception date | 1 year | 5 year | Since inception | 1 year | 5 year | Since inception | Gross | Net 2 | |||
Class A (WDTAX) | 11-30-2015 | -13.90 | 1.80 | 3.49 | -8.64 | 3.01 | 4.34 | 2.41 | 0.60 | ||
Class C (WDTCX) | 11-30-2015 | -9.92 | 2.64 | 3.83 | -8.92 | 2.64 | 3.83 | 3.16 | 1.35 | ||
Class R4 (WDTYX) | 11-30-2015 | – | – | – | -8.55 | 3.27 | 4.61 | 2.13 | 0.29 | ||
Class R6 (WDTZX) | 11-30-2015 | – | – | – | -8.16 | 3.48 | 4.81 | 1.98 | 0.14 | ||
Administrator Class (WDFDX)3 | 8-26-2022 | – | – | – | -8.47 | 3.14 | 4.53 | 2.33 | 0.49 | ||
S&P Target Date 2015 Index4 | – | – | – | – | -6.11 | 3.63 | 4.68 * | – | – | ||
Dynamic Target 2015 Blended Index5 | – | – | – | – | -8.08 | – | – | – | – |
* | Based on the inception date of the oldest Fund class. |
1 | Reflects the expense ratios as stated in the most recent prospectuses, which include the impact of 0.10% of acquired fund fees and expenses representing the net expenses from the affiliated master portfolios. The expense ratios shown are subject to change and may differ from the annualized expense ratios shown in the financial highlights of this report. |
2 | The manager has contractually committed through June 30, 2024, to waive fees and/or reimburse expenses to the extent necessary to cap total annual fund operating expenses after fee waivers at 0.60% for Class A, 1.35% for Class C, 0.29% for Class R4 and 0.14% for Class R6 and 0.49% for Administrator Class. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses (if any) from funds in which the underlying affiliated master portfolios invest and from money market funds, and extraordinary expenses are excluded from the expense caps. All other acquired fund fees and expenses from the affiliated master portfolios are included in the expense caps. Prior to or after the commitment expiration date, the caps may be increased or the commitment to maintain the caps may be terminated only with the approval of the Board of Trustees. Without these caps, the Fund’s returns would have been lower. The expense ratio paid by an investor is the net expense ratio (the total annual fund operating expenses after fee waivers) as stated in the prospectuses. |
3 | Historical performance shown for the Administrator Class shares prior to their inception reflects the performance of the Class R6 shares, and includes the higher expenses applicable to the Administrator Class shares. |
4 | The S&P Target Date Index is designed as a benchmark for multi-asset class portfolios with risk profiles that become more conservative over time, corresponding to the target retirement date. This index is representative of the investment opportunity available to investors for the target date horizon, with asset class exposures driven by a survey of available target date funds for that horizon. You cannot invest directly in an index. |
5 | Source: Allspring Funds Management, LLC. The Dynamic Target Blended Index is designed as a benchmark for multi-asset class portfolios with risk profiles that become more conservative over time, corresponding to the target retirement date. The index weightings among the major asset classes are adjusted annually. The inception date of the index is September 21, 2018. See Appendix for additional information. You cannot invest directly in an index. |
![](https://capedge.com/proxy/N-CSR/0001193125-23-132105/g444832imgc40d78695.jpg)
1 | The chart compares the performance of Class A shares since inception with the S&P Target Date 2015 Index and Dynamic Target 2015 Blended Index. The chart assumes a hypothetical investment of $10,000 in Class A shares and reflects all operating expenses and assumes the maximum initial sales charge of 5.75%. |
2 | The inception date of the index is September 21, 2018. |
Holdings (%) as of February 28, 20231 | |
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | 27.47 |
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 21.07 |
Allspring Investment Grade Corporate Bond Portfolio | 14.25 |
Allspring Factor Enhanced International Equity Portfolio | 10.99 |
Allspring Strategic Retirement Bond Portfolio | 9.30 |
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 5.28 |
Allspring U.S. REIT Portfolio | 3.64 |
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 3.17 |
Allspring High Yield Corporate Bond Portfolio | 2.34 |
Allspring Emerging Markets Bond Portfolio | 2.33 |
1 | Figures represent the percentage of the Fund's net assets. Holdings are subject to change and may have changed since the date specified. |
Allocation (%) as of February 28, 2023 | ||
Neutral allocation | Effective allocation1 | |
Bond Funds | 55 | 62 |
Stock Funds | 45 | 47 |
Effective Cash | 0 | (9) |
1 | Effective allocation includes the effect of any tactical futures overlay that may be in place. Effective cash, if any, represents the net offset to such future positions. The effective allocation does not reflect futures positions held in dynamic risk hedging strategies. Effective allocations are subject to change and may have changed since the date specified. |
Volatility metrics as of February 28, 20231 | |||
Beta 2 | Standard deviation3 | R-squared 4 | |
Class A | 1.05 | 10.90 | 0.97 |
Class C | 1.06 | 10.97 | 0.97 |
Class R4 | 1.05 | 10.92 | 0.97 |
Class R6 | 1.05 | 10.89 | 0.97 |
Administrator Class | 1.05 | 10.92 | 0.97 |
1 | These metrics show the degree and timing of the Fund’s fluctuations compared to S&P Target Date 2015 Index over 36 months. |
2 | Beta measures fund volatility relative to general market movements. It is a standardized measure of systematic risk in comparison with a specified index. The benchmark beta is 1.00 by definition. Beta is based on historical performance and does not represent future results. |
3 | Standard deviation is the square root of the sum of squared deviations from the mean. It is often used as a measure of volatility, variability, or risk. Standard deviation is based on historical performance and does not represent future results. |
4 | R-squared (R2) is a statistical measure that reflects the percentage of a fund’s movements that can be explained by movements in its benchmark index. The measure ranges from 0.0, which means that the fund’s performance bears no relationship to the performance of the index, to 1.0, which means that the fund’s performance was perfectly synchronized with the performance of the benchmark. R2 is based on historical performance and does not represent future results. |
Average annual total returns (%) as of February 28, 2023 | |||||||||||
Including sales charge | Excluding sales charge | Expense ratios1 (%) | |||||||||
Inception date | 1 year | 5 year | Since inception | 1 year | 5 year | Since inception | Gross | Net 2 | |||
Class A (WDTDX) | 11-30-2015 | -14.15 | 2.11 | 4.02 | -8.89 | 3.33 | 4.87 | 2.09 | 0.60 | ||
Class C (WDTEX) | 11-30-2015 | -10.26 | 2.86 | 4.31 | -9.26 | 2.86 | 4.31 | 2.84 | 1.35 | ||
Class R4 (WDTGX) | 11-30-2015 | – | – | – | -8.65 | 3.63 | 5.18 | 1.81 | 0.29 | ||
Class R6 (WDTHX) | 11-30-2015 | – | – | – | -8.51 | 3.78 | 5.34 | 1.66 | 0.14 | ||
Administrator Class (WDDTX)3 | 8-26-2022 | – | – | – | -8.86 | 3.43 | 5.05 | 2.01 | 0.49 | ||
S&P Target Date 2020 Index4 | – | – | – | – | -6.31 | 3.72 | 5.01 * | – | – | ||
Dynamic Target 2020 Blended Index5 | – | – | – | – | -7.98 | – | – | – | – |
* | Based on the inception date of the oldest Fund class. |
1 | Reflects the expense ratios as stated in the most recent prospectuses, which include the impact of 0.10% of acquired fund fees and expenses representing the net expenses from the affiliated master portfolios. The expense ratios shown are subject to change and may differ from the annualized expense ratios shown in the financial highlights of this report. |
2 | The manager has contractually committed through June 30, 2024, to waive fees and/or reimburse expenses to the extent necessary to cap total annual fund operating expenses after fee waivers at 0.60% for Class A, 1.35% for Class C, 0.29% for Class R4 and 0.14% for Class R6 and 0.49% for Administrator Class. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses (if any) from funds in which the underlying affiliated master portfolios invest and from money market funds, and extraordinary expenses are excluded from the expense caps. All other acquired fund fees and expenses from the affiliated master portfolios are included in the expense caps. Prior to or after the commitment expiration date, the caps may be increased or the commitment to maintain the caps may be terminated only with the approval of the Board of Trustees. Without these caps, the Fund’s returns would have been lower. The expense ratio paid by an investor is the net expense ratio (the total annual fund operating expenses after fee waivers) as stated in the prospectuses. |
3 | Historical performance shown for the Administrator Class shares prior to their inception reflects the performance of the Class R6 shares, and includes the higher expenses applicable to the Administrator Class shares. |
4 | The S&P Target Date Index is designed as a benchmark for multi-asset class portfolios with risk profiles that become more conservative over time, corresponding to the target retirement date. This index is representative of the investment opportunity available to investors for the target date horizon, with asset class exposures driven by a survey of available target date funds for that horizon. You cannot invest directly in an index. |
5 | Source: Allspring Funds Management, LLC. The Dynamic Target Blended Index is designed as a benchmark for multi-asset class portfolios with risk profiles that become more conservative over time, corresponding to the target retirement date. The index weightings among the major asset classes are adjusted annually. The inception date of the index is September 21, 2018. See Appendix for additional information. You cannot invest directly in an index. |
![](https://capedge.com/proxy/N-CSR/0001193125-23-132105/g444832imgd51895e56.jpg)
1 | The chart compares the performance of Class A shares since inception with the S&P Target Date 2020 Index and Dynamic Target 2020 Blended Index. The chart assumes a hypothetical investment of $10,000 in Class A shares and reflects all operating expenses and assumes the maximum initial sales charge of 5.75%. |
2 | The inception date of the index is September 21, 2018. |
Holdings (%) as of February 28, 20231 | |
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 24.66 |
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | 23.68 |
Allspring Factor Enhanced International Equity Portfolio | 12.85 |
Allspring Investment Grade Corporate Bond Portfolio | 12.30 |
Allspring Strategic Retirement Bond Portfolio | 8.02 |
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 6.18 |
Allspring U.S. REIT Portfolio | 4.23 |
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 3.64 |
Allspring High Yield Corporate Bond Portfolio | 2.02 |
Allspring Emerging Markets Bond Portfolio | 2.01 |
1 | Figures represent the percentage of the Fund's net assets. Holdings are subject to change and may have changed since the date specified. |
Allocation (%) as of February 28, 2023 | ||
Neutral allocation | Effective allocation1 | |
Bond Funds | 48 | 54 |
Stock Funds | 52 | 55 |
Effective Cash | 0 | (9) |
1 | Effective allocation includes the effect of any tactical futures overlay that may be in place. Effective cash, if any, represents the net offset to such future positions. The effective allocation does not reflect futures positions held in dynamic risk hedging strategies. Effective allocations are subject to change and may have changed since the date specified. |
Volatility metrics as of February 28, 20231 | |||
Beta 2 | Standard deviation3 | R-squared 4 | |
Class A | 1.04 | 11.77 | 0.97 |
Class C | 1.04 | 11.84 | 0.97 |
Class R4 | 1.04 | 11.78 | 0.97 |
Class R6 | 1.04 | 11.74 | 0.97 |
Administrator Class | 1.04 | 11.77 | 0.97 |
1 | These metrics show the degree and timing of the Fund’s fluctuations compared to S&P Target Date 2020 Index over 36 months. |
2 | Beta measures fund volatility relative to general market movements. It is a standardized measure of systematic risk in comparison with a specified index. The benchmark beta is 1.00 by definition. Beta is based on historical performance and does not represent future results. |
3 | Standard deviation is the square root of the sum of squared deviations from the mean. It is often used as a measure of volatility, variability, or risk. Standard deviation is based on historical performance and does not represent future results. |
4 | R-squared (R2) is a statistical measure that reflects the percentage of a fund’s movements that can be explained by movements in its benchmark index. The measure ranges from 0.0, which means that the fund’s performance bears no relationship to the performance of the index, to 1.0, which means that the fund’s performance was perfectly synchronized with the performance of the benchmark. R2 is based on historical performance and does not represent future results. |
Average annual total returns (%) as of February 28, 2023 | |||||||||||
Including sales charge | Excluding sales charge | Expense ratios1 (%) | |||||||||
Inception date | 1 year | 5 year | Since inception | 1 year | 5 year | Since inception | Gross | Net 2 | |||
Class A (WDTIX) | 11-30-2015 | -13.30 | 2.82 | 4.79 | -8.02 | 4.04 | 5.65 | 1.46 | 0.60 | ||
Class C (WDTJX) | 11-30-2015 | -7.24 | 4.08 | 5.43 | -6.24 | 4.08 | 5.43 | 2.21 | 1.35 | ||
Class R4 (WDTLX) | 11-30-2015 | – | – | – | -7.78 | 4.32 | 5.95 | 1.18 | 0.29 | ||
Class R6 (WDTMX) | 11-30-2015 | – | – | – | -7.63 | 4.49 | 6.11 | 1.03 | 0.14 | ||
Administrator Class (WDETX)3 | 8-26-2022 | – | – | – | -7.98 | 4.15 | 5.82 | 1.38 | 0.49 | ||
S&P Target Date 2025 Index4 | – | – | – | – | -6.05 | 4.35 | 5.75 * | – | – | ||
Dynamic Target 2025 Blended Index5 | – | – | – | – | -7.82 | – | – | – | – |
* | Based on the inception date of the oldest Fund class. |
1 | Reflects the expense ratios as stated in the most recent prospectuses, which include the impact of 0.11% of acquired fund fees and expenses representing the net expenses from the affiliated master portfolios. The expense ratios shown are subject to change and may differ from the annualized expense ratios shown in the financial highlights of this report. |
2 | The manager has contractually committed through June 30, 2024, to waive fees and/or reimburse expenses to the extent necessary to cap total annual fund operating expenses after fee waivers at 0.60% for Class A, 1.35% for Class C, 0.29% for Class R4 and 0.14% for Class R6 and 0.49% for Administrator Class. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses (if any) from funds in which the underlying affiliated master portfolios invest and from money market funds, and extraordinary expenses are excluded from the expense caps. All other acquired fund fees and expenses from the affiliated master portfolios are included in the expense caps. Prior to or after the commitment expiration date, the caps may be increased or the commitment to maintain the caps may be terminated only with the approval of the Board of Trustees. Without these caps, the Fund’s returns would have been lower. The expense ratio paid by an investor is the net expense ratio (the total annual fund operating expenses after fee waivers) as stated in the prospectuses. |
3 | Historical performance shown for the Administrator Class shares prior to their inception reflects the performance of the Class R6 shares, and includes the higher expenses applicable to the Administrator Class shares. |
4 | The S&P Target Date Index is designed as a benchmark for multi-asset class portfolios with risk profiles that become more conservative over time, corresponding to the target retirement date. This index is representative of the investment opportunity available to investors for the target date horizon, with asset class exposures driven by a survey of available target date funds for that horizon. You cannot invest directly in an index. |
5 | Source: Allspring Funds Management, LLC. The Dynamic Target Blended Index is designed as a benchmark for multi-asset class portfolios with risk profiles that become more conservative over time, corresponding to the target retirement date. The index weightings among the major asset classes are adjusted annually. The inception date of the index is September 21, 2018. See Appendix for additional information. You cannot invest directly in an index. |
![](https://capedge.com/proxy/N-CSR/0001193125-23-132105/g444832img71f236157.jpg)
1 | The chart compares the performance of Class A shares since inception with the S&P Target Date 2025 Index and Dynamic Target 2025 Blended Index. The chart assumes a hypothetical investment of $10,000 in Class A shares and reflects all operating expenses and assumes the maximum initial sales charge of 5.75%. |
2 | The inception date of the index is September 21, 2018. |
Holdings (%) as of February 28, 20231 | |
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 29.20 |
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | 20.07 |
Allspring Factor Enhanced International Equity Portfolio | 15.71 |
Allspring Investment Grade Corporate Bond Portfolio | 10.41 |
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 7.33 |
Allspring Strategic Retirement Bond Portfolio | 5.05 |
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 4.47 |
Allspring U.S. REIT Portfolio | 3.69 |
Allspring High Yield Corporate Bond Portfolio | 1.70 |
Allspring Emerging Markets Bond Portfolio | 1.70 |
1 | Figures represent the percentage of the Fund's net assets. Holdings are subject to change and may have changed since the date specified. |
Allocation (%) as of February 28, 2023 | ||
Neutral allocation | Effective allocation1 | |
Bond Funds | 39 | 45 |
Stock Funds | 61 | 64 |
Effective Cash | 0 | (9) |
1 | Effective allocation includes the effect of any tactical futures overlay that may be in place. Effective cash, if any, represents the net offset to such future positions. The effective allocation does not reflect futures positions held in dynamic risk hedging strategies. Effective allocations are subject to change and may have changed since the date specified. |
Volatility metrics as of February 28, 20231 | |||
Beta 2 | Standard deviation3 | R-squared 4 | |
Class A | 1.02 | 12.95 | 0.97 |
Class C | 1.02 | 12.97 | 0.96 |
Class R4 | 1.02 | 12.90 | 0.97 |
Class R6 | 1.02 | 12.97 | 0.97 |
Administrator Class | 1.02 | 12.97 | 0.97 |
1 | These metrics show the degree and timing of the Fund’s fluctuations compared to S&P Target Date 2025 Index over 36 months. |
2 | Beta measures fund volatility relative to general market movements. It is a standardized measure of systematic risk in comparison with a specified index. The benchmark beta is 1.00 by definition. Beta is based on historical performance and does not represent future results. |
3 | Standard deviation is the square root of the sum of squared deviations from the mean. It is often used as a measure of volatility, variability, or risk. Standard deviation is based on historical performance and does not represent future results. |
4 | R-squared (R2) is a statistical measure that reflects the percentage of a fund’s movements that can be explained by movements in its benchmark index. The measure ranges from 0.0, which means that the fund’s performance bears no relationship to the performance of the index, to 1.0, which means that the fund’s performance was perfectly synchronized with the performance of the benchmark. R2 is based on historical performance and does not represent future results. |
Average annual total returns (%) as of February 28, 2023 | |||||||||||
Including sales charge | Excluding sales charge | Expense ratios1 (%) | |||||||||
Inception date | 1 year | 5 year | Since inception | 1 year | 5 year | Since inception | Gross | Net 2 | |||
Class A (WDTNX) | 11-30-2015 | -12.36 | 3.54 | 5.56 | -7.03 ♠ | 4.77 | 6.43 | 1.53 | 0.60 | ||
Class C (WDTOX) | 11-30-2015 | -8.31 | 4.33 | 5.86 | -7.31 | 4.33 | 5.86 | 2.28 | 1.35 | ||
Class R4 (WDTQX) | 11-30-2015 | – | – | – | -6.77 | 5.09 | 6.74 | 1.25 | 0.29 | ||
Class R6 (WDTSX) | 11-30-2015 | – | – | – | -6.63 ♠ | 5.24 | 6.90 | 1.10 | 0.14 | ||
Administrator Class (WDFTX)3 | 8-26-2022 | – | – | – | -6.90 | 4.91 | 6.62 | 1.45 | 0.49 | ||
S&P Target Date 2030 Index4 | – | – | – | – | -6.16 | 4.82 | 6.37 * | – | – | ||
Dynamic Target 2030 Blended Index5 | – | – | – | – | -7.59 | – | – | – | – |
♠ | Total return differs from the return in the Financial Highlights in this report. The total return presented is calculated based on the Net Asset Value (NAV) at which the shareholder transactions were processed. The NAV and total return presented in the Financial Highlights reflects certain adjustments made to the net assets of the Fund that are necessary under U.S. generally accepted accounting principles. |
* | Based on the inception date of the oldest Fund class. |
1 | Reflects the expense ratios as stated in the most recent prospectuses, which include the impact of 0.12% of acquired fund fees and expenses representing the net expenses from the affiliated master portfolios. The expense ratios shown are subject to change and may differ from the annualized expense ratios shown in the financial highlights of this report. |
2 | The manager has contractually committed through June 30, 2024, to waive fees and/or reimburse expenses to the extent necessary to cap total annual fund operating expenses after fee waivers at 0.60% for Class A, 1.35% for Class C, 0.29% for Class R4 and 0.14% for Class R6 and 0.49% for Administrator Class. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses (if any) from funds in which the underlying affiliated master portfolios invest and from money market funds, and extraordinary expenses are excluded from the expense caps. All other acquired fund fees and expenses from the affiliated master portfolios are included in the expense caps. Prior to or after the commitment expiration date, the caps may be increased or the commitment to maintain the caps may be terminated only with the approval of the Board of Trustees. Without these caps, the Fund’s returns would have been lower. The expense ratio paid by an investor is the net expense ratio (the total annual fund operating expenses after fee waivers) as stated in the prospectuses. |
3 | Historical performance shown for the Administrator Class shares prior to their inception reflects the performance of the Class R6 shares, and includes the higher expenses applicable to the Administrator Class shares. |
4 | The S&P Target Date Index is designed as a benchmark for multi-asset class portfolios with risk profiles that become more conservative over time, corresponding to the target retirement date. This index is representative of the investment opportunity available to investors for the target date horizon, with asset class exposures driven by a survey of available target date funds for that horizon. You cannot invest directly in an index. |
5 | Source: Allspring Funds Management, LLC. The Dynamic Target Blended Index is designed as a benchmark for multi-asset class portfolios with risk profiles that become more conservative over time, corresponding to the target retirement date. The index weightings among the major asset classes are adjusted annually. The inception date of the index is September 21, 2018. See Appendix for additional information. You cannot invest directly in an index. |
![](https://capedge.com/proxy/N-CSR/0001193125-23-132105/g444832img5efd0e878.jpg)
1 | The chart compares the performance of Class A shares since inception with the S&P Target Date 2030 Index and Dynamic Target 2030 Blended Index. The chart assumes a hypothetical investment of $10,000 in Class A shares and reflects all operating expenses and assumes the maximum initial sales charge of 5.75%. |
2 | The inception date of the index is September 21, 2018. |
Holdings (%) as of February 28, 20231 | |
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 35.15 |
Allspring Factor Enhanced International Equity Portfolio | 19.56 |
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | 16.19 |
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 8.86 |
Allspring Investment Grade Corporate Bond Portfolio | 8.42 |
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 5.61 |
Allspring U.S. REIT Portfolio | 2.00 |
Allspring Strategic Retirement Bond Portfolio | 1.86 |
Allspring High Yield Corporate Bond Portfolio | 1.36 |
Allspring Emerging Markets Bond Portfolio | 1.36 |
1 | Figures represent the percentage of the Fund's net assets. Holdings are subject to change and may have changed since the date specified. |
Allocation (%) as of February 28, 2023 | ||
Neutral allocation | Effective allocation1 | |
Bond Funds | 29 | 35 |
Stock Funds | 71 | 74 |
Effective Cash | 0 | (9) |
1 | Effective allocation includes the effect of any tactical futures overlay that may be in place. Effective cash, if any, represents the net offset to such future positions. The effective allocation does not reflect futures positions held in dynamic risk hedging strategies. Effective allocations are subject to change and may have changed since the date specified. |
Volatility metrics as of February 28, 20231 | |||
Beta 2 | Standard deviation3 | R-squared 4 | |
Class A | 0.97 | 14.03 | 0.96 |
Class C | 0.97 | 14.07 | 0.96 |
Class R4 | 0.97 | 13.99 | 0.96 |
Class R6 | 0.97 | 14.02 | 0.96 |
Administrator Class | 0.97 | 14.01 | 0.96 |
1 | These metrics show the degree and timing of the Fund’s fluctuations compared to S&P Target Date 2030 Index over 36 months. |
2 | Beta measures fund volatility relative to general market movements. It is a standardized measure of systematic risk in comparison with a specified index. The benchmark beta is 1.00 by definition. Beta is based on historical performance and does not represent future results. |
3 | Standard deviation is the square root of the sum of squared deviations from the mean. It is often used as a measure of volatility, variability, or risk. Standard deviation is based on historical performance and does not represent future results. |
4 | R-squared (R2) is a statistical measure that reflects the percentage of a fund’s movements that can be explained by movements in its benchmark index. The measure ranges from 0.0, which means that the fund’s performance bears no relationship to the performance of the index, to 1.0, which means that the fund’s performance was perfectly synchronized with the performance of the benchmark. R2 is based on historical performance and does not represent future results. |
Average annual total returns (%) as of February 28, 2023 | |||||||||||
Including sales charge | Excluding sales charge | Expense ratios1 (%) | |||||||||
Inception date | 1 year | 5 year | Since inception | 1 year | 5 year | Since inception | Gross | Net 2 | |||
Class A (WDTTX) | 11-30-2015 | -12.21 | 3.83 | 5.98 | -6.88 | 5.07 | 6.85 | 1.61 | 0.60 | ||
Class C (WDCTX) | 11-30-2015 | -7.40 | 4.86 | 6.45 | -6.40 ♠ | 4.86 | 6.45 | 2.36 | 1.35 | ||
Class R4 (WDTVX) | 11-30-2015 | – | – | – | -6.64 | 5.38 | 7.17 | 1.33 | 0.29 | ||
Class R6 (WDTWX) | 11-30-2015 | – | – | – | -6.50 | 5.54 | 7.33 | 1.18 | 0.14 | ||
Administrator Class (WDGTX)3 | 8-26-2022 | – | – | – | -6.85 | 5.20 | 7.04 | 1.53 | 0.49 | ||
S&P Target Date 2035 Index4 | – | – | – | – | -6.33 | 5.33 | 7.00 * | – | – | ||
Dynamic Target 2035 Blended Index5 | – | – | – | – | -7.42 | – | – | – | – |
♠ | Total return differs from the return in the Financial Highlights in this report. The total return presented is calculated based on the Net Asset Value (NAV) at which the shareholder transactions were processed. The NAV and total return presented in the Financial Highlights reflects certain adjustments made to the net assets of the Fund that are necessary under U.S. generally accepted accounting principles. |
* | Based on the inception date of the oldest Fund class. |
1 | Reflects the expense ratios as stated in the most recent prospectuses, which include the impact of 0.12% of acquired fund fees and expenses representing the net expenses from the affiliated master portfolios. The expense ratios shown are subject to change and may differ from the annualized expense ratios shown in the financial highlights of this report. |
2 | The manager has contractually committed through June 30, 2024, to waive fees and/or reimburse expenses to the extent necessary to cap total annual fund operating expenses after fee waivers at 0.60% for Class A, 1.35% for Class C, 0.29% for Class R4 and 0.14% for Class R6 and 0.49% for Administrator Class. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses (if any) from funds in which the underlying affiliated master portfolios invest and from money market funds, and extraordinary expenses are excluded from the expense caps. All other acquired fund fees and expenses from the affiliated master portfolios are included in the expense caps. Prior to or after the commitment expiration date, the caps may be increased or the commitment to maintain the caps may be terminated only with the approval of the Board of Trustees. Without these caps, the Fund’s returns would have been lower. The expense ratio paid by an investor is the net expense ratio (the total annual fund operating expenses after fee waivers) as stated in the prospectuses. |
3 | Historical performance shown for the Administrator Class shares prior to their inception reflects the performance of the Class R6 shares, and includes the higher expenses applicable to the Administrator Class shares. |
4 | The S&P Target Date Index is designed as a benchmark for multi-asset class portfolios with risk profiles that become more conservative over time, corresponding to the target retirement date. This index is representative of the investment opportunity available to investors for the target date horizon, with asset class exposures driven by a survey of available target date funds for that horizon. You cannot invest directly in an index. |
5 | Source: Allspring Funds Management, LLC. The Dynamic Target Blended Index is designed as a benchmark for multi-asset class portfolios with risk profiles that become more conservative over time, corresponding to the target retirement date. The index weightings among the major asset classes are adjusted annually. The inception date of the index is September 21, 2018. See Appendix for additional information. You cannot invest directly in an index. |
![](https://capedge.com/proxy/N-CSR/0001193125-23-132105/g444832img9c5eee289.jpg)
1 | The chart compares the performance of Class A shares since inception with the S&P Target Date 2035 Index and Dynamic Target 2035 Blended Index. The chart assumes a hypothetical investment of $10,000 in Class A shares and reflects all operating expenses and assumes the maximum initial sales charge of 5.75%. |
2 | The inception date of the index is September 21, 2018. |
Holdings (%) as of February 28, 20231 | |
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 38.85 |
Allspring Factor Enhanced International Equity Portfolio | 22.63 |
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | 12.94 |
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 9.81 |
Allspring Investment Grade Corporate Bond Portfolio | 6.72 |
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 6.46 |
Allspring High Yield Corporate Bond Portfolio | 1.09 |
Allspring Emerging Markets Bond Portfolio | 1.09 |
Allspring U.S. REIT Portfolio | 0.47 |
Allspring Strategic Retirement Bond Portfolio | 0.35 |
1 | Figures represent the percentage of the Fund's net assets. Holdings are subject to change and may have changed since the date specified. |
Allocation (%) as of February 28, 2023 | ||
Neutral allocation | Effective allocation1 | |
Bond Funds | 22 | 28 |
Stock Funds | 78 | 81 |
Effective Cash | 0 | (9) |
1 | Effective allocation includes the effect of any tactical futures overlay that may be in place. Effective cash, if any, represents the net offset to such future positions. The effective allocation does not reflect futures positions held in dynamic risk hedging strategies. Effective allocations are subject to change and may have changed since the date specified. |
Volatility metrics as of February 28, 20231 | |||
Beta 2 | Standard deviation3 | R-squared 4 | |
Class A | 0.89 | 14.59 | 0.96 |
Class C | 0.89 | 14.67 | 0.95 |
Class R4 | 0.89 | 14.62 | 0.96 |
Class R6 | 0.89 | 14.60 | 0.96 |
Administrator Class | 0.89 | 14.58 | 0.96 |
1 | These metrics show the degree and timing of the Fund’s fluctuations compared to S&P Target Date 2035 Index over 36 months. |
2 | Beta measures fund volatility relative to general market movements. It is a standardized measure of systematic risk in comparison with a specified index. The benchmark beta is 1.00 by definition. Beta is based on historical performance and does not represent future results. |
3 | Standard deviation is the square root of the sum of squared deviations from the mean. It is often used as a measure of volatility, variability, or risk. Standard deviation is based on historical performance and does not represent future results. |
4 | R-squared (R2) is a statistical measure that reflects the percentage of a fund’s movements that can be explained by movements in its benchmark index. The measure ranges from 0.0, which means that the fund’s performance bears no relationship to the performance of the index, to 1.0, which means that the fund’s performance was perfectly synchronized with the performance of the benchmark. R2 is based on historical performance and does not represent future results. |
Average annual total returns (%) as of February 28, 2023 | |||||||||||
Including sales charge | Excluding sales charge | Expense ratios1 (%) | |||||||||
Inception date | 1 year | 5 year | Since inception | 1 year | 5 year | Since inception | Gross | Net 2 | |||
Class A (WTDAX) | 11-30-2015 | -12.35 | 3.77 | 6.03 | -7.03 ♠ | 5.00 | 6.90 | 1.69 | 0.60 | ||
Class C (WTDCX) | 11-30-2015 | -8.40 | 4.60 | 6.38 | -7.40 | 4.60 | 6.38 | 2.44 | 1.35 | ||
Class R4 (WTDEX) | 11-30-2015 | – | – | – | -6.68 ♠ | 5.32 | 7.24 | 1.41 | 0.29 | ||
Class R6 (WTDFX) | 11-30-2015 | – | – | – | -6.63 ♠ | 5.47 | 7.39 | 1.26 | 0.14 | ||
Administrator Class (WDHTX)3 | 8-26-2022 | – | – | – | -6.90 | 5.14 | 7.11 | 1.61 | 0.49 | ||
S&P Target Date 2040 Index4 | – | – | – | – | -6.33 | 5.73 | 7.46 * | – | – | ||
Dynamic Target 2040 Blended Index5 | – | – | – | – | -7.31 | – | – | – | – |
♠ | Total return differs from the return in the Financial Highlights in this report. The total return presented is calculated based on the Net Asset Value (NAV) at which the shareholder transactions were processed. The NAV and total return presented in the Financial Highlights reflects certain adjustments made to the net assets of the Fund that are necessary under U.S. generally accepted accounting principles. |
* | Based on the inception date of the oldest Fund class. |
1 | Reflects the expense ratios as stated in the most recent prospectuses, which include the impact of 0.12% of acquired fund fees and expenses representing the net expenses from the affiliated master portfolios. The expense ratios shown are subject to change and may differ from the annualized expense ratios shown in the financial highlights of this report. |
2 | The manager has contractually committed through June 30, 2024, to waive fees and/or reimburse expenses to the extent necessary to cap total annual fund operating expenses after fee waivers at 0.60% for Class A, 1.35% for Class C, 0.29% for Class R4 and 0.14% for Class R6 and 0.49% for Administrator Class. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses (if any) from funds in which the underlying affiliated master portfolios invest and from money market funds, and extraordinary expenses are excluded from the expense caps. All other acquired fund fees and expenses from the affiliated master portfolios are included in the expense caps. Prior to or after the commitment expiration date, the caps may be increased or the commitment to maintain the caps may be terminated only with the approval of the Board of Trustees. Without these caps, the Fund’s returns would have been lower. The expense ratio paid by an investor is the net expense ratio (the total annual fund operating expenses after fee waivers) as stated in the prospectuses. |
3 | Historical performance shown for the Administrator Class shares prior to their inception reflects the performance of the Class R6 shares, and includes the higher expenses applicable to the Administrator Class shares. |
4 | The S&P Target Date Index is designed as a benchmark for multi-asset class portfolios with risk profiles that become more conservative over time, corresponding to the target retirement date. This index is representative of the investment opportunity available to investors for the target date horizon, with asset class exposures driven by a survey of available target date funds for that horizon. You cannot invest directly in an index. |
5 | Source: Allspring Funds Management, LLC. The Dynamic Target Blended Index is designed as a benchmark for multi-asset class portfolios with risk profiles that become more conservative over time, corresponding to the target retirement date. The index weightings among the major asset classes are adjusted annually. The inception date of the index is September 21, 2018. See Appendix for additional information. You cannot invest directly in an index. |
![](https://capedge.com/proxy/N-CSR/0001193125-23-132105/g444832imgcb74e09810.jpg)
1 | The chart compares the performance of Class A shares since inception with the S&P Target Date 2040 Index and Dynamic Target 2040 Blended Index. The chart assumes a hypothetical investment of $10,000 in Class A shares and reflects all operating expenses and assumes the maximum initial sales charge of 5.75%. |
2 | The inception date of the index is September 21, 2018. |
Holdings (%) as of February 28, 20231 | |
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 40.71 |
Allspring Factor Enhanced International Equity Portfolio | 24.60 |
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 10.24 |
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | 10.07 |
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 7.02 |
Allspring Investment Grade Corporate Bond Portfolio | 5.22 |
Allspring High Yield Corporate Bond Portfolio | 0.85 |
Allspring Emerging Markets Bond Portfolio | 0.85 |
1 | Figures represent the percentage of the Fund's net assets. Holdings are subject to change and may have changed since the date specified. |
Allocation (%) as of February 28, 2023 | ||
Neutral allocation | Effective allocation1 | |
Bond Funds | 17 | 23 |
Stock Funds | 83 | 86 |
Effective Cash | 0 | (9) |
1 | Effective allocation includes the effect of any tactical futures overlay that may be in place. Effective cash, if any, represents the net offset to such future positions. The effective allocation does not reflect futures positions held in dynamic risk hedging strategies. Effective allocations are subject to change and may have changed since the date specified. |
Volatility metrics as of February 28, 20231 | |||
Beta 2 | Standard deviation3 | R-squared 4 | |
Class A | 0.86 | 15.26 | 0.96 |
Class C | 0.87 | 15.37 | 0.95 |
Class R4 | 0.86 | 15.24 | 0.96 |
Class R6 | 0.86 | 15.23 | 0.96 |
Administrator Class | 0.86 | 15.25 | 0.96 |
1 | These metrics show the degree and timing of the Fund’s fluctuations compared to S&P Target Date 2040 Index over 36 months. |
2 | Beta measures fund volatility relative to general market movements. It is a standardized measure of systematic risk in comparison with a specified index. The benchmark beta is 1.00 by definition. Beta is based on historical performance and does not represent future results. |
3 | Standard deviation is the square root of the sum of squared deviations from the mean. It is often used as a measure of volatility, variability, or risk. Standard deviation is based on historical performance and does not represent future results. |
4 | R-squared (R2) is a statistical measure that reflects the percentage of a fund’s movements that can be explained by movements in its benchmark index. The measure ranges from 0.0, which means that the fund’s performance bears no relationship to the performance of the index, to 1.0, which means that the fund’s performance was perfectly synchronized with the performance of the benchmark. R2 is based on historical performance and does not represent future results. |
Average annual total returns (%) as of February 28, 2023 | |||||||||||
Including sales charge | Excluding sales charge | Expense ratios1 (%) | |||||||||
Inception date | 1 year | 5 year | Since inception | 1 year | 5 year | Since inception | Gross | Net 2 | |||
Class A (WTDGX) | 11-30-2015 | -11.94 | 4.04 | 6.33 | -6.53 | 5.29 | 7.21 | 1.85 | 0.60 | ||
Class C (WTDHX) | 11-30-2015 | -7.58 | 4.97 | 6.72 | -6.58 | 4.97 | 6.72 | 2.60 | 1.35 | ||
Class R4 (WTDJX) | 11-30-2015 | – | – | – | -6.22 | 5.61 | 7.53 | 1.57 | 0.29 | ||
Class R6 (WTDKX) | 11-30-2015 | – | – | – | -6.06 | 5.78 | 7.70 | 1.42 | 0.14 | ||
Administrator Class (WDITX)3 | 8-26-2022 | – | – | – | -6.41 | 5.43 | 7.41 | 1.77 | 0.49 | ||
S&P Target Date 2045 Index4 | – | – | – | – | -6.23 | 5.96 | 7.76 * | – | – | ||
Dynamic Target 2045 Blended Index5 | – | – | – | – | -7.22 | – | – | – | – |
* | Based on the inception date of the oldest Fund class. |
1 | Reflects the expense ratios as stated in the most recent prospectuses, which include the impact of 0.13% of acquired fund fees and expenses representing the net expenses from the affiliated master portfolios. The expense ratios shown are subject to change and may differ from the annualized expense ratios shown in the financial highlights of this report. |
2 | The manager has contractually committed through June 30, 2024, to waive fees and/or reimburse expenses to the extent necessary to cap total annual fund operating expenses after fee waivers at 0.60% for Class A, 1.35% for Class C, 0.29% for Class R4 and 0.14% for Class R6 and 0.49% for Administrator Class. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses (if any) from funds in which the underlying affiliated master portfolios invest and from money market funds, and extraordinary expenses are excluded from the expense caps. All other acquired fund fees and expenses from the affiliated master portfolios are included in the expense caps. Prior to or after the commitment expiration date, the caps may be increased or the commitment to maintain the caps may be terminated only with the approval of the Board of Trustees. Without these caps, the Fund’s returns would have been lower. The expense ratio paid by an investor is the net expense ratio (the total annual fund operating expenses after fee waivers) as stated in the prospectuses. |
3 | Historical performance shown for the Administrator Class shares prior to their inception reflects the performance of the Class R6 shares, and includes the higher expenses applicable to the Administrator Class shares. |
4 | The S&P Target Date Index is designed as a benchmark for multi-asset class portfolios with risk profiles that become more conservative over time, corresponding to the target retirement date. This index is representative of the investment opportunity available to investors for the target date horizon, with asset class exposures driven by a survey of available target date funds for that horizon. You cannot invest directly in an index. |
5 | Source: Allspring Funds Management, LLC. The Dynamic Target Blended Index is designed as a benchmark for multi-asset class portfolios with risk profiles that become more conservative over time, corresponding to the target retirement date. The index weightings among the major asset classes are adjusted annually. The inception date of the index is September 21, 2018. See Appendix for additional information. You cannot invest directly in an index. |
![](https://capedge.com/proxy/N-CSR/0001193125-23-132105/g444832img8d11cf6711.jpg)
1 | The chart compares the performance of Class A shares since inception with the S&P Target Date 2045 Index and Dynamic Target 2045 Blended Index. The chart assumes a hypothetical investment of $10,000 in Class A shares and reflects all operating expenses and assumes the maximum initial sales charge of 5.75%. |
2 | The inception date of the index is September 21, 2018. |
Holdings (%) as of February 28, 20231 | |
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 42.56 |
Allspring Factor Enhanced International Equity Portfolio | 26.59 |
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 10.75 |
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 7.64 |
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | 7.10 |
Allspring Investment Grade Corporate Bond Portfolio | 3.69 |
Allspring High Yield Corporate Bond Portfolio | 0.60 |
Allspring Emerging Markets Bond Portfolio | 0.60 |
1 | Figures represent the percentage of the Fund's net assets. Holdings are subject to change and may have changed since the date specified. |
Allocation (%) as of February 28, 2023 | ||
Neutral allocation | Effective allocation1 | |
Bond Funds | 12 | 18 |
Stock Funds | 88 | 91 |
Effective Cash | 0 | (9) |
1 | Effective allocation includes the effect of any tactical futures overlay that may be in place. Effective cash, if any, represents the net offset to such future positions. The effective allocation does not reflect futures positions held in dynamic risk hedging strategies. Effective allocations are subject to change and may have changed since the date specified. |
Volatility metrics as of February 28, 20231 | |||
Beta 2 | Standard deviation3 | R-squared 4 | |
Class A | 0.87 | 16.02 | 0.96 |
Class C | 0.87 | 16.16 | 0.96 |
Class R4 | 0.87 | 16.00 | 0.96 |
Class R6 | 0.87 | 16.01 | 0.96 |
Administrator Class | 0.87 | 16.02 | 0.96 |
1 | These metrics show the degree and timing of the Fund’s fluctuations compared to S&P Target Date 2045 Index over 36 months. |
2 | Beta measures fund volatility relative to general market movements. It is a standardized measure of systematic risk in comparison with a specified index. The benchmark beta is 1.00 by definition. Beta is based on historical performance and does not represent future results. |
3 | Standard deviation is the square root of the sum of squared deviations from the mean. It is often used as a measure of volatility, variability, or risk. Standard deviation is based on historical performance and does not represent future results. |
4 | R-squared (R2) is a statistical measure that reflects the percentage of a fund’s movements that can be explained by movements in its benchmark index. The measure ranges from 0.0, which means that the fund’s performance bears no relationship to the performance of the index, to 1.0, which means that the fund’s performance was perfectly synchronized with the performance of the benchmark. R2 is based on historical performance and does not represent future results. |
Average annual total returns (%) as of February 28, 2023 | |||||||||||
Including sales charge | Excluding sales charge | Expense ratios1 (%) | |||||||||
Inception date | 1 year | 5 year | Since inception | 1 year | 5 year | Since inception | Gross | Net 2 | |||
Class A (WTDLX) | 11-30-2015 | -11.64 | 4.23 | 6.47 | -6.28 | 5.48 | 7.34 | 2.16 | 0.60 | ||
Class C (WTDMX) | 11-30-2015 | -7.64 | 5.07 | 6.80 | -6.64 | 5.07 | 6.80 | 2.91 | 1.35 | ||
Class R4 (WTDOX) | 11-30-2015 | – | – | – | -5.98 | 5.79 | 7.67 | 1.88 | 0.29 | ||
Class R6 (WTDPX) | 11-30-2015 | – | – | – | -5.84 ♠ | 5.94 | 7.82 | 1.73 | 0.14 | ||
Administrator Class (WDJTX)3 | 8-26-2022 | – | – | – | -6.20 | 5.58 | 7.53 | 2.08 | 0.49 | ||
S&P Target Date 2050 Index4 | – | – | – | – | -6.20 | 6.08 | 7.93 * | – | – | ||
Dynamic Target 2050 Blended Index5 | – | – | – | – | -7.14 | – | – | – | – |
♠ | Total return differs from the return in the Financial Highlights in this report. The total return presented is calculated based on the Net Asset Value (NAV) at which the shareholder transactions were processed. The NAV and total return presented in the Financial Highlights reflects certain adjustments made to the net assets of the Fund that are necessary under U.S. generally accepted accounting principles. |
* | Based on the inception date of the oldest Fund class. |
1 | Reflects the expense ratios as stated in the most recent prospectuses, which include the impact of 0.13% of acquired fund fees and expenses representing the net expenses from the affiliated master portfolios. The expense ratios shown are subject to change and may differ from the annualized expense ratios shown in the financial highlights of this report. |
2 | The manager has contractually committed through June 30, 2024, to waive fees and/or reimburse expenses to the extent necessary to cap total annual fund operating expenses after fee waivers at 0.60% for Class A, 1.35% for Class C, 0.29% for Class R4 and 0.14% for Class R6 and 0.49% for Administrator Class. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses (if any) from funds in which the underlying affiliated master portfolios invest and from money market funds, and extraordinary expenses are excluded from the expense caps. All other acquired fund fees and expenses from the affiliated master portfolios are included in the expense caps. Prior to or after the commitment expiration date, the caps may be increased or the commitment to maintain the caps may be terminated only with the approval of the Board of Trustees. Without these caps, the Fund’s returns would have been lower. The expense ratio paid by an investor is the net expense ratio (the total annual fund operating expenses after fee waivers) as stated in the prospectuses. |
3 | Historical performance shown for the Administrator Class shares prior to their inception reflects the performance of the Class R6 shares, and includes the higher expenses applicable to the Administrator Class shares. |
4 | The S&P Target Date Index is designed as a benchmark for multi-asset class portfolios with risk profiles that become more conservative over time, corresponding to the target retirement date. This index is representative of the investment opportunity available to investors for the target date horizon, with asset class exposures driven by a survey of available target date funds for that horizon. You cannot invest directly in an index. |
5 | Source: Allspring Funds Management, LLC. The Dynamic Target Blended Index is designed as a benchmark for multi-asset class portfolios with risk profiles that become more conservative over time, corresponding to the target retirement date. The index weightings among the major asset classes are adjusted annually. The inception date of the index is September 21, 2018. See Appendix for additional information. You cannot invest directly in an index. |
![](https://capedge.com/proxy/N-CSR/0001193125-23-132105/g444832img2a67b67912.jpg)
1 | The chart compares the performance of Class A shares since inception with the S&P Target Date 2050 Index and Dynamic Target 2050 Blended Index. The chart assumes a hypothetical investment of $10,000 in Class A shares and reflects all operating expenses and assumes the maximum initial sales charge of 5.75%. |
2 | The inception date of the index is September 21, 2018. |
Holdings (%) as of February 28, 20231 | |
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 44.70 |
Allspring Factor Enhanced International Equity Portfolio | 28.38 |
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 11.19 |
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 8.22 |
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | 4.13 |
Allspring Investment Grade Corporate Bond Portfolio | 2.14 |
Allspring High Yield Corporate Bond Portfolio | 0.35 |
Allspring Emerging Markets Bond Portfolio | 0.35 |
1 | Figures represent the percentage of the Fund's net assets. Holdings are subject to change and may have changed since the date specified. |
Allocation (%) as of February 28, 2023 | ||
Neutral allocation | Effective allocation1 | |
Bond Funds | 7 | 13 |
Stock Funds | 93 | 96 |
Effective Cash | 0 | (9) |
1 | Effective allocation includes the effect of any tactical futures overlay that may be in place. Effective cash, if any, represents the net offset to such future positions. The effective allocation does not reflect futures positions held in dynamic risk hedging strategies. Effective allocations are subject to change and may have changed since the date specified. |
Volatility metrics as of February 28, 20231 | |||
Beta 2 | Standard deviation3 | R-squared 4 | |
Class A | 0.88 | 16.55 | 0.96 |
Class C | 0.89 | 16.71 | 0.96 |
Class R4 | 0.88 | 16.56 | 0.96 |
Class R6 | 0.88 | 16.59 | 0.96 |
Administrator Class | 0.88 | 16.61 | 0.96 |
1 | These metrics show the degree and timing of the Fund’s fluctuations compared to S&P Target Date 2050 Index over 36 months. |
2 | Beta measures fund volatility relative to general market movements. It is a standardized measure of systematic risk in comparison with a specified index. The benchmark beta is 1.00 by definition. Beta is based on historical performance and does not represent future results. |
3 | Standard deviation is the square root of the sum of squared deviations from the mean. It is often used as a measure of volatility, variability, or risk. Standard deviation is based on historical performance and does not represent future results. |
4 | R-squared (R2) is a statistical measure that reflects the percentage of a fund’s movements that can be explained by movements in its benchmark index. The measure ranges from 0.0, which means that the fund’s performance bears no relationship to the performance of the index, to 1.0, which means that the fund’s performance was perfectly synchronized with the performance of the benchmark. R2 is based on historical performance and does not represent future results. |
Average annual total returns (%) as of February 28, 2023 | |||||||||||
Including sales charge | Excluding sales charge | Expense ratios1 (%) | |||||||||
Inception date | 1 year | 5 year | Since inception | 1 year | 5 year | Since inception | Gross | Net 2 | |||
Class A (WTDQX) | 11-30-2015 | -11.42 | 4.34 | 6.54 | -6.05 | 5.59 | 7.42 | 2.09 | 0.60 | ||
Class C (WTDRX) | 11-30-2015 | -7.21 | 5.23 | 6.92 | -6.21 | 5.23 | 6.92 | 2.84 | 1.35 | ||
Class R4 (WTDTX) | 11-30-2015 | – | – | – | -5.82 | 5.91 | 7.74 | 1.81 | 0.29 | ||
Class R6 (WTDUX) | 11-30-2015 | – | – | – | -5.59 | 6.07 | 7.91 | 1.66 | 0.14 | ||
Administrator Class (WDKTX)3 | 8-26-2022 | – | – | – | -5.94 | 5.72 | 7.62 | 2.01 | 0.49 | ||
S&P Target Date 2055 Index4 | – | – | – | – | -6.14 | 6.12 | 8.03 * | – | – | ||
Dynamic Target 2055 Blended Index5 | – | – | – | – | -7.12 | – | – | – | – |
* | Based on the inception date of the oldest Fund class. |
1 | Reflects the expense ratios as stated in the most recent prospectuses, which include the impact of 0.13% of acquired fund fees and expenses representing the net expenses from the affiliated master portfolios. The expense ratios shown are subject to change and may differ from the annualized expense ratios shown in the financial highlights of this report. |
2 | The manager has contractually committed through June 30, 2024, to waive fees and/or reimburse expenses to the extent necessary to cap total annual fund operating expenses after fee waivers at 0.60% for Class A, 1.35% for Class C, 0.29% for Class R4 and 0.14% for Class R6 and 0.49% for Administrator Class. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses (if any) from funds in which the underlying affiliated master portfolios invest and from money market funds, and extraordinary expenses are excluded from the expense caps. All other acquired fund fees and expenses from the affiliated master portfolios are included in the expense caps. Prior to or after the commitment expiration date, the caps may be increased or the commitment to maintain the caps may be terminated only with the approval of the Board of Trustees. Without these caps, the Fund’s returns would have been lower. The expense ratio paid by an investor is the net expense ratio (the total annual fund operating expenses after fee waivers) as stated in the prospectuses. |
3 | Historical performance shown for the Administrator Class shares prior to their inception reflects the performance of the Class R6 shares, and includes the higher expenses applicable to the Administrator Class shares. |
4 | The S&P Target Date Index is designed as a benchmark for multi-asset class portfolios with risk profiles that become more conservative over time, corresponding to the target retirement date. This index is representative of the investment opportunity available to investors for the target date horizon, with asset class exposures driven by a survey of available target date funds for that horizon. You cannot invest directly in an index. |
5 | Source: Allspring Funds Management, LLC. The Dynamic Target Blended Index is designed as a benchmark for multi-asset class portfolios with risk profiles that become more conservative over time, corresponding to the target retirement date. The index weightings among the major asset classes are adjusted annually. The inception date of the index is September 21, 2018. See Appendix for additional information. You cannot invest directly in an index. |
![](https://capedge.com/proxy/N-CSR/0001193125-23-132105/g444832img8f4b1a4d13.jpg)
1 | The chart compares the performance of Class A shares since inception with the S&P Target Date 2055 Index and Dynamic Target 2055 Blended Index. The chart assumes a hypothetical investment of $10,000 in Class A shares and reflects all operating expenses and assumes the maximum initial sales charge of 5.75%. |
2 | The inception date of the index is September 21, 2018. |
Holdings (%) as of February 28, 20231 | |
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 44.90 |
Allspring Factor Enhanced International Equity Portfolio | 28.97 |
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 11.29 |
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 8.52 |
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | 2.94 |
Allspring Investment Grade Corporate Bond Portfolio | 1.53 |
Allspring High Yield Corporate Bond Portfolio | 0.25 |
Allspring Emerging Markets Bond Portfolio | 0.25 |
1 | Figures represent the percentage of the Fund's net assets. Holdings are subject to change and may have changed since the date specified. |
Allocation (%) as of February 28, 2023 | ||
Neutral allocation | Effective allocation 1 | |
Bond Funds | 5 | 11 |
Stock Funds | 95 | 98 |
Effective Cash | 0 | (9) |
1 | Effective allocation includes the effect of any tactical futures overlay that may be in place. Effective cash, if any, represents the net offset to such future positions. The effective allocation does not reflect futures positions held in dynamic risk hedging strategies. Effective allocations are subject to change and may have changed since the date specified. |
Volatility metrics as of February 28, 20231 | |||
Beta 2 | Standard deviation3 | R-squared 4 | |
Class A | 0.87 | 16.60 | 0.96 |
Class C | 0.88 | 16.77 | 0.96 |
Class R4 | 0.87 | 16.60 | 0.96 |
Class R6 | 0.87 | 16.60 | 0.96 |
Administrator Class | 0.87 | 16.60 | 0.96 |
1 | These metrics show the degree and timing of the Fund’s fluctuations compared to S&P Target Date 2055 Index over 36 months. |
2 | Beta measures fund volatility relative to general market movements. It is a standardized measure of systematic risk in comparison with a specified index. The benchmark beta is 1.00 by definition. Beta is based on historical performance and does not represent future results. |
3 | Standard deviation is the square root of the sum of squared deviations from the mean. It is often used as a measure of volatility, variability, or risk. Standard deviation is based on historical performance and does not represent future results. |
4 | R-squared (R2) is a statistical measure that reflects the percentage of a fund’s movements that can be explained by movements in its benchmark index. The measure ranges from 0.0, which means that the fund’s performance bears no relationship to the performance of the index, to 1.0, which means that the fund’s performance was perfectly synchronized with the performance of the benchmark. R2 is based on historical performance and does not represent future results. |
Average annual total returns (%) as of February 28, 2023 | |||||||||||
Including sales charge | Excluding sales charge | Expense ratios1 (%) | |||||||||
Inception date | 1 year | 5 year | Since inception | 1 year | 5 year | Since inception | Gross | Net 2 | |||
Class A (WTDVX) | 11-30-2015 | -11.18 | 4.31 | 6.54 | -5.79 ♠ | 5.56 | 7.41 | 2.21 | 0.60 | ||
Class C (WTDWX) | 11-30-2015 | -7.04 | 5.17 | 6.90 | -6.04 | 5.17 | 6.90 | 2.96 | 1.35 | ||
Class R4 (WTDZX) | 11-30-2015 | – | – | – | -5.45 | 5.86 | 7.74 | 1.93 | 0.29 | ||
Class R6 (WTSZX) | 11-30-2015 | – | – | – | -5.40 | 6.03 | 7.90 | 1.78 | 0.14 | ||
Administrator Class (WDLTX)3 | 8-26-2022 | – | – | – | -5.66 | 5.69 | 7.62 | 2.13 | 0.49 | ||
S&P Target Date 2055 Index4 | – | – | – | – | -6.14 | 6.12 | 8.03 * | – | – | ||
S&P Target Date 2060 Index**,4 | – | – | – | – | -6.18 | 6.14 | – | – | – | ||
Dynamic Target 2060 Blended Index5 | – | – | – | – | -7.12 | – | – | – | – |
♠ | Total return differs from the return in the Financial Highlights in this report. The total return presented is calculated based on the Net Asset Value (NAV) at which the shareholder transactions were processed. The NAV and total return presented in the Financial Highlights reflects certain adjustments made to the net assets of the Fund that are necessary under U.S. generally accepted accounting principles. |
* | Based on the inception date of the oldest Fund class. |
** | The inception date of the index is May 31, 2016. |
1 | Reflects the expense ratios as stated in the most recent prospectuses, which include the impact of 0.13% of acquired fund fees and expenses representing the net expenses from the affiliated master portfolios. The expense ratios shown are subject to change and may differ from the annualized expense ratios shown in the financial highlights of this report. |
2 | The manager has contractually committed through June 30, 2024, to waive fees and/or reimburse expenses to the extent necessary to cap total annual fund operating expenses after fee waivers at 0.60% for Class A, 1.35% for Class C, 0.29% for Class R4 and 0.14% for Class R6 and 0.49% for Administrator Class. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses (if any) from funds in which the underlying affiliated master portfolios invest and from money market funds, and extraordinary expenses are excluded from the expense caps. All other acquired fund fees and expenses from the affiliated master portfolios are included in the expense caps. Prior to or after the commitment expiration date, the caps may be increased or the commitment to maintain the caps may be terminated only with the approval of the Board of Trustees. Without these caps, the Fund’s returns would have been lower. The expense ratio paid by an investor is the net expense ratio (the total annual fund operating expenses after fee waivers) as stated in the prospectuses. |
3 | Historical performance shown for the Administrator Class shares prior to their inception reflects the performance of the Class R6 shares, and includes the higher expenses applicable to the Administrator Class shares. |
4 | The S&P Target Date Index is designed as a benchmark for multi-asset class portfolios with risk profiles that become more conservative over time, corresponding to the target retirement date. This index is representative of the investment opportunity available to investors for the target date horizon, with asset class exposures driven by a survey of available target date funds for that horizon. You cannot invest directly in an index. |
5 | Source: Allspring Funds Management, LLC. The Dynamic Target Blended Index is designed as a benchmark for multi-asset class portfolios with risk profiles that become more conservative over time, corresponding to the target retirement date. The index weightings among the major asset classes are adjusted annually. The inception date of the index is September 21, 2018. See Appendix for additional information. You cannot invest directly in an index. |
![](https://capedge.com/proxy/N-CSR/0001193125-23-132105/g444832img288ff60c14.jpg)
1 | The chart compares the performance of Class A shares since inception with the S&P Target Date 2055 Index, S&P Target Date 2060 Index and Dynamic Target 2060 Blended Index. The chart assumes a hypothetical investment of $10,000 in Class A shares and reflects all operating expenses and assumes the maximum initial sales charge of 5.75%. |
2 | The inception date of the index is May 31, 2016. |
3 | The inception date of the index is September 21, 2018. |
Holdings (%) as of February 28, 20231 | |
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 44.66 |
Allspring Factor Enhanced International Equity Portfolio | 28.69 |
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 11.22 |
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 8.47 |
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | 2.91 |
Allspring Investment Grade Corporate Bond Portfolio | 1.51 |
Allspring High Yield Corporate Bond Portfolio | 0.25 |
Allspring Emerging Markets Bond Portfolio | 0.25 |
1 | Figures represent the percentage of the Fund's net assets. Holdings are subject to change and may have changed since the date specified. |
Allocation (%) as of February 28, 2023 | ||
Neutral allocation | Effective allocation 1 | |
Bond Funds | 5 | 11 |
Stock Funds | 95 | 98 |
Effective Cash | 0 | (9) |
1 | Effective allocation includes the effect of any tactical futures overlay that may be in place. Effective cash, if any, represents the net offset to such future positions. The effective allocation does not reflect futures positions held in dynamic risk hedging strategies. Effective allocations are subject to change and may have changed since the date specified. |
Volatility metrics as of February 28, 20231 | |||
Beta 2 | Standard deviation3 | R-squared 4 | |
Class A | 0.87 | 16.55 | 0.96 |
Class C | 0.87 | 16.60 | 0.96 |
Class R4 | 0.87 | 16.50 | 0.96 |
Class R6 | 0.87 | 16.53 | 0.96 |
Administrator Class | 0.87 | 16.53 | 0.96 |
1 | These metrics show the degree and timing of the Fund’s fluctuations compared to S&P Target Date 2060 Index over 36 months. |
2 | Beta measures fund volatility relative to general market movements. It is a standardized measure of systematic risk in comparison with a specified index. The benchmark beta is 1.00 by definition. Beta is based on historical performance and does not represent future results. |
3 | Standard deviation is the square root of the sum of squared deviations from the mean. It is often used as a measure of volatility, variability, or risk. Standard deviation is based on historical performance and does not represent future results. |
4 | R-squared (R2) is a statistical measure that reflects the percentage of a fund’s movements that can be explained by movements in its benchmark index. The measure ranges from 0.0, which means that the fund’s performance bears no relationship to the performance of the index, to 1.0, which means that the fund’s performance was perfectly synchronized with the performance of the benchmark. R2 is based on historical performance and does not represent future results. |
Average annual total returns (%) as of February 28, 2023 | |||||||||||
Including sales charge | Excluding sales charge | Expense ratios1 (%) | |||||||||
Inception date | Since Inception | Since Inception | Gross | Net 2 | |||||||
Class A (ADTAX) | 9-13-2022 | -2.74 | 3.19 | 0.89 | 0.60 | ||||||
Class C (ADTCX) | 9-13-2022 | 1.84 | 2.84 | 1.64 | 1.35 | ||||||
Class R4 (ADTYX) | 9-13-2022 | - | 3.33 | 0.61 | 0.29 | ||||||
Class R6 (ADTZX) | 9-13-2022 | - | 3.43 | 0.46 | 0.14 | ||||||
Administrator Class (ADTDX) | 9-13-2022 | - | 3.27 ♠ | 0.81 | 0.49 | ||||||
S&P Target Date 2065+ Index3 | – | - | 1.76 | - | - | ||||||
Dynamic Target 2065 Blended Index4 | – | - | 1.38 | - | - |
♠ | Total return differs from the return in the Financial Highlights in this report. The total return presented is calculated based on the Net Asset Value (NAV) at which the shareholder transactions were processed. The NAV and total return presented in the Financial Highlights reflects certain adjustments made to the net assets of the Fund that are necessary under U.S. generally accepted accounting principles. |
1 | Reflects the expense ratios as stated in the most recent prospectuses, which include the impact of 0.13% of acquired fund fees and expenses representing the net expenses from the affiliated master portfolios. The expense ratios shown are subject to change and may differ from the annualized expense ratios shown in the financial highlights of this report. |
2 | The manager has contractually committed through June 30, 2024, to waive fees and/or reimburse expenses to the extent necessary to cap total annual fund operating expenses after fee waivers at 0.60% for Class A, 1.35% for Class C, 0.29% for Class R4 and 0.14% for Class R6 and 0.49% for Administrator Class. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses (if any) from funds in which the underlying affiliated master portfolios invest and from money market funds, and extraordinary expenses are excluded from the expense caps. All other acquired fund fees and expenses from the affiliated master portfolios are included in the expense caps. Prior to or after the commitment expiration date, the caps may be increased or the commitment to maintain the caps may be terminated only with the approval of the Board of Trustees. Without these caps, the Fund’s returns would have been lower. The expense ratio paid by an investor is the net expense ratio (the total annual fund operating expenses after fee waivers) as stated in the prospectuses. |
3 | The S&P Target Date Index is designed as a benchmark for multi-asset class portfolios with risk profiles that become more conservative over time, corresponding to the target retirement date. This index is representative of the investment opportunity available to investors for the target date horizon, with asset class exposures driven by a survey of available target date funds for that horizon. You cannot invest directly in an index. |
4 | Source: Allspring Funds Management, LLC. The Dynamic Target Blended Index is designed as a benchmark for multi-asset class portfolios with risk profiles that become more conservative over time, corresponding to the target retirement date. The index weightings among the major asset classes are adjusted annually. The inception date of the index is August 12, 2022. See Appendix for additional information. You cannot invest directly in an index. |
![](https://capedge.com/proxy/N-CSR/0001193125-23-132105/g444832imgd0036a4f15.jpg)
1 | The chart compares the performance of Class A shares since inception with the S&P Target Date 2065+ Index and Dynamic Target 2065 Blended Index. The chart assumes a hypothetical investment of $10,000 in Class A shares and reflects all operating expenses and assumes the maximum initial sales charge of 5.75%. |
Holdings (%) as of February 28, 20231 | |
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 44.52 |
Allspring Factor Enhanced International Equity Portfolio | 28.53 |
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 11.16 |
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 8.43 |
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | 2.89 |
Allspring Investment Grade Corporate Bond Portfolio | 1.50 |
Allspring High Yield Corporate Bond Portfolio | 0.25 |
Allspring Emerging Markets Bond Portfolio | 0.25 |
1 | Figures represent the percentage of the Fund's net assets. Holdings are subject to change and may have changed since the date specified. |
Allocation (%) as of February 28, 2023 | ||
Neutral allocation | Effective allocation1 | |
Bond Funds | 5 | 11 |
Stock Funds | 95 | 98 |
Effective Cash | 0 | (9) |
1 | Effective allocation includes the effect of any tactical futures overlay that may be in place. Effective cash, if any, represents the net offset to such future positions. The effective allocation does not reflect futures positions held in dynamic risk hedging strategies. Effective allocations are subject to change and may have changed since the date specified. |
* | The Russell 1000® Index measures the performance of the 1,000 largest companies in the Russell 3000® Index, which represents approximately 92% of the total market capitalization of the Russell 3000® Index. You cannot invest directly in an index |
** | The Russell 2000® Index measures the performance of the 2,000 smallest companies in the Russell 3000® Index, which represents approximately 8% of the total market capitalization of the Russell 3000 Index. You cannot invest directly in an index. |
* | The Russell 1000® Index measures the performance of the 1,000 largest companies in the Russell 3000® Index, which represents approximately 92% of the total market capitalization of the Russell 3000® Index. You cannot invest directly in an index |
*** | The Morgan Stanley Capital International (MSCI) All Country World Index (ACWI) ex USA Index (Net) is a free-float-adjusted market-capitalization-weighted index that is designed to measure the equity market performance of developed and emerging markets, excluding the U.S. Source: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, reviewed, or produced by MSCI. You cannot invest directly in an index |
* | The Russell 1000® Index measures the performance of the 1,000 largest companies in the Russell 3000® Index, which represents approximately 92% of the total market capitalization of the Russell 3000® Index. You cannot invest directly in an index |
† | The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the investment-grade, U.S.-dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable-rate mortgage pass-throughs), asset-backed securities, and commercial mortgage-backed securities. You cannot invest directly in an index. |
* | The Russell 1000® Index measures the performance of the 1,000 largest companies in the Russell 3000® Index, which represents approximately 92% of the total market capitalization of the Russell 3000® Index. You cannot invest directly in an index |
†† | The Bloomberg 20+ Year U.S. Treasury Index is an unmanaged index composed of securities in the U.S. Treasury Index with maturities of 20 years or greater. You cannot invest directly in an index. |
Beginning account value 9-1-2022 | Ending account value 2-28-2023 | Expenses paid during the period1 | Annualized net expense ratio | |
Dynamic Target Today Fund | ||||
Class A | ||||
Actual | $1,000.00 | $1,002.35 | $2.98 | 0.60% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.82 | $3.01 | 0.60% |
Class C | ||||
Actual | $1,000.00 | $ 999.44 | $6.69 | 1.35% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,018.10 | $6.76 | 1.35% |
Class R4 | ||||
Actual | $1,000.00 | $1,004.34 | $1.44 | 0.29% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,023.36 | $1.45 | 0.29% |
Class R6 | ||||
Actual | $1,000.00 | $1,005.72 | $0.70 | 0.14% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,024.10 | $0.70 | 0.14% |
Administrator Class | ||||
Actual | $1,000.00 | $1,003.67 | $2.43 | 0.49% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,022.36 | $2.46 | 0.49% |
Beginning account value 9-1-2022 | Ending account value 2-28-2023 | Expenses paid during the period1 | Annualized net expense ratio | |
Dynamic Target 2015 Fund | ||||
Class A | ||||
Actual | $1,000.00 | $1,009.31 | $2.99 | 0.60% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.82 | $3.01 | 0.60% |
Class C | ||||
Actual | $1,000.00 | $1,006.23 | $6.72 | 1.35% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,018.10 | $6.76 | 1.35% |
Class R4 | ||||
Actual | $1,000.00 | $1,010.28 | $1.45 | 0.29% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,023.36 | $1.45 | 0.29% |
Class R6 | ||||
Actual | $1,000.00 | $1,012.47 | $0.70 | 0.14% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,024.10 | $0.70 | 0.14% |
Administrator Class | ||||
Actual | $1,000.00 | $1,010.71 | $2.44 | 0.49% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,022.36 | $2.46 | 0.49% |
Dynamic Target 2020 Fund | ||||
Class A | ||||
Actual | $1,000.00 | $1,013.54 | $3.00 | 0.60% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.82 | $3.01 | 0.60% |
Class C | ||||
Actual | $1,000.00 | $1,009.00 | $6.72 | 1.35% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,018.10 | $6.76 | 1.35% |
Class R4 | ||||
Actual | $1,000.00 | $1,014.42 | $1.45 | 0.29% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,023.36 | $1.45 | 0.29% |
Class R6 | ||||
Actual | $1,000.00 | $1,015.87 | $0.70 | 0.14% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,024.10 | $0.70 | 0.14% |
Administrator Class | ||||
Actual | $1,000.00 | $1,013.71 | $2.40 | 0.48% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,022.41 | $2.41 | 0.48% |
Dynamic Target 2025 Fund | ||||
Class A | ||||
Actual | $1,000.00 | $1,022.80 | $3.01 | 0.60% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.82 | $3.01 | 0.60% |
Class C | ||||
Actual | $1,000.00 | $1,027.02 | $6.78 | 1.35% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,018.10 | $6.76 | 1.35% |
Class R4 | ||||
Actual | $1,000.00 | $1,023.66 | $1.46 | 0.29% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,023.36 | $1.45 | 0.29% |
Class R6 | ||||
Actual | $1,000.00 | $1,024.22 | $0.70 | 0.14% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,024.10 | $0.70 | 0.14% |
Administrator Class | ||||
Actual | $1,000.00 | $1,022.11 | $2.46 | 0.49% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,022.36 | $2.46 | 0.49% |
Beginning account value 9-1-2022 | Ending account value 2-28-2023 | Expenses paid during the period1 | Annualized net expense ratio | |
Dynamic Target 2030 Fund | ||||
Class A | ||||
Actual | $1,000.00 | $1,036.57 | $3.03 | 0.60% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.82 | $3.01 | 0.60% |
Class C | ||||
Actual | $1,000.00 | $1,033.07 | $6.75 | 1.34% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,018.15 | $6.71 | 1.34% |
Class R4 | ||||
Actual | $1,000.00 | $1,038.19 | $1.47 | 0.29% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,023.36 | $1.45 | 0.29% |
Class R6 | ||||
Actual | $1,000.00 | $1,038.61 | $0.71 | 0.14% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,024.10 | $0.70 | 0.14% |
Administrator Class | ||||
Actual | $1,000.00 | $1,037.40 | $2.48 | 0.49% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,022.36 | $2.46 | 0.49% |
Dynamic Target 2035 Fund | ||||
Class A | ||||
Actual | $1,000.00 | $1,044.27 | $3.04 | 0.60% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.82 | $3.01 | 0.60% |
Class C | ||||
Actual | $1,000.00 | $1,048.04 | $6.86 | 1.35% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,018.10 | $6.76 | 1.35% |
Class R4 | ||||
Actual | $1,000.00 | $1,045.76 | $1.47 | 0.29% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,023.36 | $1.45 | 0.29% |
Class R6 | ||||
Actual | $1,000.00 | $1,046.19 | $0.71 | 0.14% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,024.10 | $0.70 | 0.14% |
Administrator Class | ||||
Actual | $1,000.00 | $1,044.11 | $2.48 | 0.49% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,022.36 | $2.46 | 0.49% |
Dynamic Target 2040 Fund | ||||
Class A | ||||
Actual | $1,000.00 | $1,049.63 | $3.05 | 0.60% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.82 | $3.01 | 0.60% |
Class C | ||||
Actual | $1,000.00 | $1,046.89 | $6.80 | 1.34% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,018.15 | $6.71 | 1.34% |
Class R4 | ||||
Actual | $1,000.00 | $1,052.05 | $1.48 | 0.29% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,023.36 | $1.45 | 0.29% |
Class R6 | ||||
Actual | $1,000.00 | $1,052.48 | $0.71 | 0.14% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,024.10 | $0.70 | 0.14% |
Administrator Class | ||||
Actual | $1,000.00 | $1,051.23 | $2.49 | 0.49% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,022.36 | $2.46 | 0.49% |
Beginning account value 9-1-2022 | Ending account value 2-28-2023 | Expenses paid during the period1 | Annualized net expense ratio | |
Dynamic Target 2045 Fund | ||||
Class A | ||||
Actual | $1,000.00 | $1,055.88 | $3.01 | 0.59% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.87 | $2.96 | 0.59% |
Class C | ||||
Actual | $1,000.00 | $1,058.12 | $6.89 | 1.35% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,018.10 | $6.76 | 1.35% |
Class R4 | ||||
Actual | $1,000.00 | $1,057.11 | $1.48 | 0.29% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,023.36 | $1.45 | 0.29% |
Class R6 | ||||
Actual | $1,000.00 | $1,058.69 | $0.71 | 0.14% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,024.10 | $0.70 | 0.14% |
Administrator Class | ||||
Actual | $1,000.00 | $1,056.51 | $2.50 | 0.49% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,022.36 | $2.46 | 0.49% |
Dynamic Target 2050 Fund | ||||
Class A | ||||
Actual | $1,000.00 | $1,060.12 | $3.06 | 0.60% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.82 | $3.01 | 0.60% |
Class C | ||||
Actual | $1,000.00 | $1,056.23 | $6.83 | 1.34% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,018.15 | $6.71 | 1.34% |
Class R4 | ||||
Actual | $1,000.00 | $1,061.67 | $1.48 | 0.29% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,023.36 | $1.45 | 0.29% |
Class R6 | ||||
Actual | $1,000.00 | $1,062.05 | $0.72 | 0.14% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,024.10 | $0.70 | 0.14% |
Administrator Class | ||||
Actual | $1,000.00 | $1,059.84 | $2.50 | 0.49% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,022.36 | $2.46 | 0.49% |
Dynamic Target 2055 Fund | ||||
Class A | ||||
Actual | $1,000.00 | $1,060.84 | $3.07 | 0.60% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.82 | $3.01 | 0.60% |
Class C | ||||
Actual | $1,000.00 | $1,061.18 | $6.90 | 1.35% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,018.10 | $6.76 | 1.35% |
Class R4 | ||||
Actual | $1,000.00 | $1,062.44 | $1.48 | 0.29% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,023.36 | $1.45 | 0.29% |
Class R6 | ||||
Actual | $1,000.00 | $1,062.91 | $0.72 | 0.14% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,024.10 | $0.70 | 0.14% |
Administrator Class | ||||
Actual | $1,000.00 | $1,060.84 | $2.50 | 0.49% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,022.36 | $2.46 | 0.49% |
Beginning account value 9-1-2022 | Ending account value 2-28-2023 | Expenses paid during the period1 | Annualized net expense ratio | |
Dynamic Target 2060 Fund | ||||
Class A | ||||
Actual | $1,000.00 | $1,059.68 | $3.06 | 0.60% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.82 | $3.01 | 0.60% |
Class C | ||||
Actual | $1,000.00 | $1,056.41 | $6.88 | 1.35% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,018.10 | $6.76 | 1.35% |
Class R4 | ||||
Actual | $1,000.00 | $1,061.19 | $1.48 | 0.29% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,023.36 | $1.45 | 0.29% |
Class R6 | ||||
Actual | $1,000.00 | $1,062.47 | $0.56 | 0.11% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,024.25 | $0.55 | 0.11% |
Administrator Class | ||||
Actual | $1,000.00 | $1,060.39 | $2.50 | 0.49% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,022.36 | $2.46 | 0.49% |
Dynamic Target 2065 Fund | ||||
Class A | ||||
Actual | $1,000.00 | $1,031.92 | $3.02 | 0.60% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.82 | $3.01 | 0.60% |
Class C | ||||
Actual | $1,000.00 | $1,028.41 | $6.79 | 1.35% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,018.10 | $6.76 | 1.35% |
Class R4 | ||||
Actual | $1,000.00 | $1,033.29 | $1.46 | 0.29% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,023.36 | $1.45 | 0.29% |
Class R6 | ||||
Actual | $1,000.00 | $1,034.26 | $0.71 | 0.14% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,024.10 | $0.70 | 0.14% |
Administrator Class | ||||
Actual | $1,000.00 | $1,032.67 | $2.47 | 0.49% |
Hypothetical (5% return before expenses) | $1,000.00 | $1,022.36 | $2.46 | 0.49% |
Value | |||||
Investment companies: 99.07% | |||||
Affiliated master portfolios: 99.07% | |||||
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | $ 18,771,284 | ||||
Allspring Emerging Markets Bond Portfolio | 1,595,821 | ||||
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 1,790,444 | ||||
Allspring Factor Enhanced International Equity Portfolio | 6,265,644 | ||||
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 11,989,554 | ||||
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 3,004,195 | ||||
Allspring High Yield Corporate Bond Portfolio | 1,598,537 | ||||
Allspring Investment Grade Corporate Bond Portfolio | 9,742,977 | ||||
Allspring Strategic Retirement Bond Portfolio | 6,353,040 | ||||
Allspring U.S. REIT Portfolio | 2,064,433 | ||||
Total Investment companies (Cost $45,137,365) | 63,175,929 | ||||
Total investments in securities (Cost $45,137,365) | 99.07% | 63,175,929 | |||
Other assets and liabilities, net | 0.93 | 595,210 | |||
Total net assets | 100.00% | $63,771,139 |
% of ownership, beginning of period | % of ownership, end of period | Net realized gains (losses) on securities transactions allocated from affiliated Master Portfolios | Net change in unrealized gains (losses) on securities transactions allocated from affiliated Master Portfolios | Interest allocated from affiliated Master Portfolios | Dividends allocated from affiliated Master Portfolios | Affiliated income allocated from affiliated Master Portfolios | Value, end of period | ||||||||
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | 0.39% | 7.20% | $ (622,192) | $ (427,174) | $ 273,162 | $ 0 | $ 12,151 | $ 18,771,284 | |||||||
Allspring Emerging Markets Bond Portfolio | 0.51 | 11.77 | (45,885) | (23,529) | 58,053 | 0 | 459 | 1,595,821 | |||||||
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 0.13 | 1.72 | (111,159) | 68,708 | 0 | 28,213 | 1,254 | 1,790,444 | |||||||
Allspring Factor Enhanced International Equity Portfolio | 0.11 | 1.41 | (4,957) | 487,838 | 0 | 81,586 | 3,362 | 6,265,644 | |||||||
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 0.18 | 2.52 | 155,454 | (383,149) | 0 | 113,125 | 9,026 | 11,989,554 | |||||||
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 0.18 | 2.46 | (74,517) | 65,296 | 0 | 18,632 | 2,115 | 3,004,195 | |||||||
Allspring High Yield Corporate Bond Portfolio | 0.52 | 11.76 | (36,429) | (25,454) | 55,536 | 0 | 444 | 1,598,537 | |||||||
Allspring Investment Grade Corporate Bond Portfolio | 0.52 | 11.69 | (412,059) | (145,506) | 223,933 | 0 | 2,151 | 9,742,977 | |||||||
Allspring Strategic Retirement Bond Portfolio | 1.07 | 21.95 | (182,917) | (152,110) | 70,410 | 0 | 960 | 6,353,040 | |||||||
Allspring U.S. REIT Portfolio | 0.94 | 12.01 | 51,090 | (208,081) | 0 | 25,530 | 361 | 2,064,433 | |||||||
$(1,283,571) | $(743,161) | $681,094 | $267,086 | $32,283 | $63,175,929 |
Description | Number of contracts | Expiration date | Notional cost | Notional value | Unrealized gains | Unrealized losses | |
Long | |||||||
Australian Dollar Futures | 19 | 3-13-2023 | $ 1,312,874 | $ 1,280,125 | $ 0 | $ (32,749) | |
Japanese Yen Futures | 20 | 3-13-2023 | 1,960,712 | 1,839,875 | 0 | (120,837) | |
E-Mini NASDAQ 100 Index | 7 | 3-17-2023 | 1,781,462 | 1,690,115 | 0 | (91,347) | |
FTSE 100 Index | 14 | 3-17-2023 | 1,344,481 | 1,323,869 | 0 | (20,612) | |
10-Year U.S. Treasury Notes | 34 | 6-21-2023 | 3,798,439 | 3,796,313 | 0 | (2,126) | |
Short | |||||||
E-Mini S&P 500 Index | (6) | 3-17-2023 | (1,221,971) | (1,192,650) | 29,321 | 0 | |
$29,321 | $(267,671) |
Value | |||||
Investment companies: 99.84% | |||||
Affiliated master portfolios: 99.84% | |||||
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | $ 7,436,289 | ||||
Allspring Emerging Markets Bond Portfolio | 632,038 | ||||
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 857,760 | ||||
Allspring Factor Enhanced International Equity Portfolio | 2,975,856 | ||||
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 5,703,199 | ||||
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 1,430,560 | ||||
Allspring High Yield Corporate Bond Portfolio | 632,881 | ||||
Allspring Investment Grade Corporate Bond Portfolio | 3,857,364 | ||||
Allspring Strategic Retirement Bond Portfolio | 2,516,874 | ||||
Allspring U.S. REIT Portfolio | 986,448 | ||||
Total Investment companies (Cost $20,053,834) | 27,029,269 | ||||
Total investments in securities (Cost $20,053,834) | 99.84% | 27,029,269 | |||
Other assets and liabilities, net | 0.16 | 43,081 | |||
Total net assets | 100.00% | $27,072,350 |
% of ownership, beginning of period | % of ownership, end of period | Net realized gains (losses) on securities transactions allocated from affiliated Master Portfolios | Net change in unrealized gains (losses) on securities transactions allocated from affiliated Master Portfolios | Interest allocated from affiliated Master Portfolios | Dividends allocated from affiliated Master Portfolios | Affiliated income allocated from affiliated Master Portfolios | Value, end of period | ||||||||
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | 0.32% | 2.85% | $ (288,064) | $ (187,864) | $ 113,297 | $ 0 | $ 5,149 | $ 7,436,289 | |||||||
Allspring Emerging Markets Bond Portfolio | 0.43 | 4.66 | (27,831) | (6,971) | 24,520 | 0 | 192 | 632,038 | |||||||
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 0.13 | 0.83 | (67,600) | 32,714 | 0 | 16,585 | 628 | 857,760 | |||||||
Allspring Factor Enhanced International Equity Portfolio | 0.11 | 0.67 | 2,898 | 188,295 | 0 | 47,546 | 1,684 | 2,975,856 | |||||||
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 0.19 | 1.20 | 147,268 | (305,548) | 0 | 60,690 | 4,488 | 5,703,199 | |||||||
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 0.19 | 1.17 | (35,144) | 18,645 | 0 | 10,567 | 1,059 | 1,430,560 | |||||||
Allspring High Yield Corporate Bond Portfolio | 0.43 | 4.66 | (19,130) | (11,427) | 23,481 | 0 | 184 | 632,881 | |||||||
Allspring Investment Grade Corporate Bond Portfolio | 0.43 | 4.63 | (191,932) | (71,814) | 94,090 | 0 | 883 | 3,857,364 | |||||||
Allspring Strategic Retirement Bond Portfolio | 0.89 | 8.69 | (79,261) | (70,925) | 37,077 | 0 | 410 | 2,516,874 | |||||||
Allspring U.S. REIT Portfolio | 1.00 | 5.74 | 43,833 | (130,831) | 0 | 15,110 | 179 | 986,448 | |||||||
$(514,963) | $(545,726) | $292,465 | $150,498 | $14,856 | $27,029,269 |
Description | Number of contracts | Expiration date | Notional cost | Notional value | Unrealized gains | Unrealized losses | |
Long | |||||||
Australian Dollar Futures | 8 | 3-13-2023 | $ 552,789 | $ 539,000 | $ 0 | $ (13,789) | |
Japanese Yen Futures | 9 | 3-13-2023 | 882,320 | 827,944 | 0 | (54,376) | |
FTSE 100 Index | 6 | 3-17-2023 | 576,206 | 567,372 | 0 | (8,834) | |
Micro E-Mini NASDAQ 100 Index | 28 | 3-17-2023 | 712,618 | 676,046 | 0 | (36,572) | |
10-Year U.S. Treasury Notes | 15 | 6-21-2023 | 1,675,782 | 1,674,844 | 0 | (938) | |
Short | |||||||
Micro E-Mini S&P 500 Index | (27) | 3-17-2023 | (549,844) | (536,693) | 13,151 | 0 | |
$13,151 | $(114,509) |
Value | |||||
Investment companies: 99.59% | |||||
Affiliated master portfolios: 99.59% | |||||
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | $ 32,508,825 | ||||
Allspring Emerging Markets Bond Portfolio | 2,763,429 | ||||
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 4,998,743 | ||||
Allspring Factor Enhanced International Equity Portfolio | 17,641,973 | ||||
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 33,858,876 | ||||
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 8,483,683 | ||||
Allspring High Yield Corporate Bond Portfolio | 2,768,131 | ||||
Allspring Investment Grade Corporate Bond Portfolio | 16,878,075 | ||||
Allspring Strategic Retirement Bond Portfolio | 11,004,298 | ||||
Allspring U.S. REIT Portfolio | 5,812,375 | ||||
Total Investment companies (Cost $115,927,178) | 136,718,408 | ||||
Total investments in securities (Cost $115,927,178) | 99.59% | 136,718,408 | |||
Other assets and liabilities, net | 0.41 | 566,261 | |||
Total net assets | 100.00% | $137,284,669 |
% of ownership, beginning of period | % of ownership, end of period | Net realized gains (losses) on securities transactions allocated from affiliated Master Portfolios | Net change in unrealized gains (losses) on securities transactions allocated from affiliated Master Portfolios | Interest allocated from affiliated Master Portfolios | Dividends allocated from affiliated Master Portfolios | Affiliated income allocated from affiliated Master Portfolios | Value, end of period | ||||||||
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | 0.35% | 12.47% | $ (1,129,256) | $ (525,090) | $ 449,478 | $ 0 | $ 19,299 | $ 32,508,825 | |||||||
Allspring Emerging Markets Bond Portfolio | 0.45 | 20.38 | (69,992) | (30,002) | 93,234 | 0 | 724 | 2,763,429 | |||||||
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 0.20 | 4.82 | (289,480) | 246,813 | 0 | 74,110 | 3,497 | 4,998,743 | |||||||
Allspring Factor Enhanced International Equity Portfolio | 0.17 | 3.98 | 70,567 | 1,504,259 | 0 | 214,823 | 9,350 | 17,641,973 | |||||||
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 0.28 | 7.12 | 518,316 | (1,016,552) | 0 | 309,991 | 25,431 | 33,858,876 | |||||||
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 0.27 | 6.96 | (197,938) | 218,646 | 0 | 49,302 | 5,944 | 8,483,683 | |||||||
Allspring High Yield Corporate Bond Portfolio | 0.46 | 20.36 | (68,573) | (25,392) | 89,118 | 0 | 701 | 2,768,131 | |||||||
Allspring Investment Grade Corporate Bond Portfolio | 0.46 | 20.25 | (695,576) | (168,159) | 362,335 | 0 | 3,379 | 16,878,075 | |||||||
Allspring Strategic Retirement Bond Portfolio | 0.95 | 38.01 | (307,383) | (221,657) | 100,188 | 0 | 1,452 | 11,004,298 | |||||||
Allspring U.S. REIT Portfolio | 1.45 | 33.83 | 99,499 | (505,356) | 0 | 67,779 | 974 | 5,812,375 | |||||||
$(2,069,816) | $ (522,490) | $1,094,353 | $716,005 | $70,751 | $136,718,408 |
Description | Number of contracts | Expiration date | Notional cost | Notional value | Unrealized gains | Unrealized losses | |
Long | |||||||
Australian Dollar Futures | 40 | 3-13-2023 | $ 2,763,946 | $ 2,695,000 | $ 0 | $ (68,946) | |
Japanese Yen Futures | 43 | 3-13-2023 | 4,215,530 | 3,955,731 | 0 | (259,799) | |
E-Mini NASDAQ 100 Index | 14 | 3-17-2023 | 3,562,926 | 3,380,230 | 0 | (182,696) | |
FTSE 100 Index | 29 | 3-17-2023 | 2,784,995 | 2,742,299 | 0 | (42,696) | |
10-Year U.S. Treasury Notes | 73 | 6-21-2023 | 8,155,470 | 8,150,906 | 0 | (4,564) | |
Short | |||||||
E-Mini S&P 500 Index | (14) | 3-17-2023 | (2,845,989) | (2,782,850) | 63,139 | 0 | |
$63,139 | $(558,701) |
Value | |||||
Investment companies: 99.33% | |||||
Affiliated master portfolios: 99.33% | |||||
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | $ 17,933,681 | ||||
Allspring Emerging Markets Bond Portfolio | 1,515,729 | ||||
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 3,991,763 | ||||
Allspring Factor Enhanced International Equity Portfolio | 14,033,311 | ||||
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 26,085,552 | ||||
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 6,552,780 | ||||
Allspring High Yield Corporate Bond Portfolio | 1,521,892 | ||||
Allspring Investment Grade Corporate Bond Portfolio | 9,306,055 | ||||
Allspring Strategic Retirement Bond Portfolio | 4,509,969 | ||||
Allspring U.S. REIT Portfolio | 3,295,916 | ||||
Total Investment companies (Cost $83,275,167) | 88,746,648 | ||||
Total investments in securities (Cost $83,275,167) | 99.33% | 88,746,648 | |||
Other assets and liabilities, net | 0.67 | 599,779 | |||
Total net assets | 100.00% | $89,346,427 |
% of ownership, beginning of period | % of ownership, end of period | Net realized gains (losses) on securities transactions allocated from affiliated Master Portfolios | Net change in unrealized gains (losses) on securities transactions allocated from affiliated Master Portfolios | Interest allocated from affiliated Master Portfolios | Dividends allocated from affiliated Master Portfolios | Affiliated income allocated from affiliated Master Portfolios | Value, end of period | ||||||||
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | 0.49% | 6.88% | $ (701,952) | $ (349,568) | $ 265,694 | $ 0 | $ 11,520 | $ 17,933,681 | |||||||
Allspring Emerging Markets Bond Portfolio | 0.64 | 11.18 | (56,258) | (17,618) | 55,526 | 0 | 424 | 1,515,729 | |||||||
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 0.41 | 3.85 | (301,035) | 226,964 | 0 | 69,753 | 2,890 | 3,991,763 | |||||||
Allspring Factor Enhanced International Equity Portfolio | 0.35 | 3.17 | 45,431 | 1,070,126 | 0 | 199,625 | 7,682 | 14,033,311 | |||||||
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 0.56 | 5.48 | 546,967 | (1,105,498) | 0 | 260,671 | 20,123 | 26,085,552 | |||||||
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 0.55 | 5.37 | (170,489) | 137,972 | 0 | 43,707 | 4,749 | 6,552,780 | |||||||
Allspring High Yield Corporate Bond Portfolio | 0.65 | 11.20 | (46,791) | (18,733) | 53,055 | 0 | 409 | 1,521,892 | |||||||
Allspring Investment Grade Corporate Bond Portfolio | 0.65 | 11.16 | (482,878) | (90,475) | 215,403 | 0 | 1,960 | 9,306,055 | |||||||
Allspring Strategic Retirement Bond Portfolio | 0.89 | 15.58 | (132,898) | (92,640) | 47,580 | 0 | 563 | 4,509,969 | |||||||
Allspring U.S. REIT Portfolio | 1.93 | 19.18 | 90,422 | (331,122) | 0 | 37,590 | 501 | 3,295,916 | |||||||
$(1,209,481) | $ (570,592) | $637,258 | $611,346 | $50,821 | $88,746,648 |
Description | Number of contracts | Expiration date | Notional cost | Notional value | Unrealized gains | Unrealized losses | |
Long | |||||||
Australian Dollar Futures | 27 | 3-13-2023 | $ 1,865,664 | $ 1,819,125 | $ 0 | $ (46,539) | |
Japanese Yen Futures | 29 | 3-13-2023 | 2,843,033 | 2,667,819 | 0 | (175,214) | |
E-Mini NASDAQ 100 Index | 9 | 3-17-2023 | 2,290,452 | 2,173,005 | 0 | (117,447) | |
FTSE 100 Index | 19 | 3-17-2023 | 1,824,652 | 1,796,679 | 0 | (27,973) | |
10-Year U.S. Treasury Notes | 49 | 6-21-2023 | 5,474,219 | 5,471,156 | 0 | (3,063) | |
Short | |||||||
E-Mini S&P 500 Index | (9) | 3-17-2023 | (1,832,957) | (1,788,975) | 43,982 | 0 | |
$43,982 | $(370,236) |
Value | |||||
Investment companies: 100.37% | |||||
Affiliated master portfolios: 100.37% | |||||
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | $ 36,360,883 | ||||
Allspring Emerging Markets Bond Portfolio | 3,052,144 | ||||
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 12,586,897 | ||||
Allspring Factor Enhanced International Equity Portfolio | 43,917,764 | ||||
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 78,919,696 | ||||
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 19,887,573 | ||||
Allspring High Yield Corporate Bond Portfolio | 3,057,349 | ||||
Allspring Investment Grade Corporate Bond Portfolio | 18,896,084 | ||||
Allspring Strategic Retirement Bond Portfolio | 4,176,553 | ||||
Allspring U.S. REIT Portfolio | �� | 4,500,102 | |||
Total Investment companies (Cost $207,729,488) | 225,355,045 | ||||
Total investments in securities (Cost $207,729,488) | 100.37% | 225,355,045 | |||
Other assets and liabilities, net | (0.37) | (820,911) | |||
Total net assets | 100.00% | $224,534,134 |
% of ownership, beginning of period | % of ownership, end of period | Net realized gains (losses) on securities transactions allocated from affiliated Master Portfolios | Net change in unrealized gains (losses) on securities transactions allocated from affiliated Master Portfolios | Interest allocated from affiliated Master Portfolios | Dividends allocated from affiliated Master Portfolios | Affiliated income allocated from affiliated Master Portfolios | Value, end of period | ||||||||
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | 0.38% | 13.95% | $ (1,405,590) | $ (391,909) | $ 503,290 | $ 0 | $ 20,662 | $ 36,360,883 | |||||||
Allspring Emerging Markets Bond Portfolio | 0.49 | 22.51 | (85,686) | (22,766) | 99,957 | 0 | 747 | 3,052,144 | |||||||
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 0.50 | 12.13 | (809,512) | 734,880 | 0 | 186,659 | 8,619 | 12,586,897 | |||||||
Allspring Factor Enhanced International Equity Portfolio | 0.42 | 9.92 | 92,894 | 3,834,213 | 0 | 537,570 | 22,829 | 43,917,764 | |||||||
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 0.65 | 16.58 | 1,071,905 | (2,296,014) | 0 | 715,408 | 57,672 | 78,919,696 | |||||||
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 0.63 | 16.31 | (527,226) | 543,669 | 0 | 113,895 | 13,549 | 19,887,573 | |||||||
Allspring High Yield Corporate Bond Portfolio | 0.50 | 22.49 | (87,167) | (16,451) | 95,656 | 0 | 724 | 3,057,349 | |||||||
Allspring Investment Grade Corporate Bond Portfolio | 0.50 | 22.67 | (935,351) | (8,127) | 394,915 | 0 | 3,473 | 18,896,084 | |||||||
Allspring Strategic Retirement Bond Portfolio | 0.27 | 14.43 | (92,579) | (68,352) | 27,973 | 0 | 368 | 4,176,553 | |||||||
Allspring U.S. REIT Portfolio | 0.88 | 26.19 | 66,019 | (330,618) | 0 | 32,406 | 547 | 4,500,102 | |||||||
$(2,712,293) | $ 1,978,525 | $1,121,791 | $1,585,938 | $129,190 | $225,355,045 |
Description | Number of contracts | Expiration date | Notional cost | Notional value | Unrealized gains | Unrealized losses | |
Long | |||||||
Australian Dollar Futures | 66 | 3-13-2023 | $ 4,560,511 | $ 4,446,750 | $ 0 | $ (113,761) | |
Japanese Yen Futures | 72 | 3-13-2023 | 7,058,562 | 6,623,550 | 0 | (435,012) | |
E-Mini NASDAQ 100 Index | 24 | 3-17-2023 | 6,107,871 | 5,794,680 | 0 | (313,191) | |
FTSE 100 Index | 49 | 3-17-2023 | 4,705,682 | 4,633,540 | 0 | (72,142) | |
10-Year U.S. Treasury Notes | 122 | 6-21-2023 | 13,629,690 | 13,622,063 | 0 | (7,627) | |
Short | |||||||
E-Mini Russell 2000 Index | (1) | 3-17-2023 | (94,241) | (94,955) | 0 | (714) | |
E-Mini S&P 500 Index | (24) | 3-17-2023 | (4,886,832) | (4,770,600) | 116,232 | 0 | |
MSCI EAFE Index | (1) | 3-17-2023 | (104,467) | (102,330) | 2,137 | 0 | |
MSCI Emerging Markets Index | (1) | 3-17-2023 | (48,157) | (48,145) | 12 | 0 | |
$118,381 | $(942,447) |
Value | |||||
Investment companies: 100.41% | |||||
Affiliated master portfolios: 100.41% | |||||
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | $ 14,401,879 | ||||
Allspring Emerging Markets Bond Portfolio | 1,209,385 | ||||
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 7,196,602 | ||||
Allspring Factor Enhanced International Equity Portfolio | 25,190,655 | ||||
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 43,244,778 | ||||
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 10,922,457 | ||||
Allspring High Yield Corporate Bond Portfolio | 1,214,299 | ||||
Allspring Investment Grade Corporate Bond Portfolio | 7,479,269 | ||||
Allspring Strategic Retirement Bond Portfolio | 387,363 | ||||
Allspring U.S. REIT Portfolio | 523,067 | ||||
Total Investment companies (Cost $105,879,196) | 111,769,754 | ||||
Total investments in securities (Cost $105,879,196) | 100.41% | 111,769,754 | |||
Other assets and liabilities, net | (0.41) | (450,935) | |||
Total net assets | 100.00% | $111,318,819 |
% of ownership, beginning of period | % of ownership, end of period | Net realized gains (losses) on securities transactions allocated from affiliated Master Portfolios | Net change in unrealized gains (losses) on securities transactions allocated from affiliated Master Portfolios | Interest allocated from affiliated Master Portfolios | Dividends allocated from affiliated Master Portfolios | Affiliated income allocated from affiliated Master Portfolios | Value, end of period | ||||||||
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | 0.29% | 5.53% | $ (514,024) | $ (227,615) | $ 206,543 | $ 0 | $ 8,446 | $ 14,401,879 | |||||||
Allspring Emerging Markets Bond Portfolio | 0.37 | 8.92 | (37,376) | (12,355) | 41,265 | 0 | 305 | 1,209,385 | |||||||
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 0.52 | 6.93 | (506,386) | 398,625 | 0 | 112,258 | 4,749 | 7,196,602 | |||||||
Allspring Factor Enhanced International Equity Portfolio | 0.45 | 5.69 | (23,672) | 1,992,919 | 0 | 322,327 | 12,718 | 25,190,655 | |||||||
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 0.66 | 9.09 | 570,799 | (1,334,809) | 0 | 394,385 | 30,328 | 43,244,778 | |||||||
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 0.64 | 8.96 | (289,237) | 204,254 | 0 | 64,302 | 7,169 | 10,922,457 | |||||||
Allspring High Yield Corporate Bond Portfolio | 0.38 | 8.93 | (31,891) | (13,524) | 39,417 | 0 | 295 | 1,214,299 | |||||||
Allspring Investment Grade Corporate Bond Portfolio | 0.38 | 8.97 | (361,164) | (37,128) | 160,655 | 0 | 1,392 | 7,479,269 | |||||||
Allspring Strategic Retirement Bond Portfolio | 0.03 | 1.34 | (6,516) | (5,618) | 2,104 | 0 | 23 | 387,363 | |||||||
Allspring U.S. REIT Portfolio | 0.12 | 3.04 | 8,271 | (31,698) | 0 | 652 | 37 | 523,067 | |||||||
$(1,191,196) | $ 933,051 | $449,984 | $893,924 | $65,462 | $111,769,754 |
Description | Number of contracts | Expiration date | Notional cost | Notional value | Unrealized gains | Unrealized losses | |
Long | |||||||
Australian Dollar Futures | 32 | 3-13-2023 | $ 2,211,157 | $ 2,156,000 | $ 0 | $ (55,157) | |
Japanese Yen Futures | 35 | 3-13-2023 | 3,431,245 | 3,219,781 | 0 | (211,464) | |
E-Mini NASDAQ 100 Index | 12 | 3-17-2023 | 3,053,936 | 2,897,340 | 0 | (156,596) | |
FTSE 100 Index | 24 | 3-17-2023 | 2,304,824 | 2,269,489 | 0 | (35,335) | |
10-Year U.S. Treasury Notes | 60 | 6-21-2023 | 6,703,126 | 6,699,375 | 0 | (3,751) | |
Short | |||||||
E-Mini S&P 500 Index | (11) | 3-17-2023 | (2,240,280) | (2,186,525) | 53,755 | 0 | |
$53,755 | $(462,303) |
Value | |||||
Investment companies: 99.56% | |||||
Affiliated master portfolios: 99.56% | |||||
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | $ 24,445,633 | ||||
Allspring Emerging Markets Bond Portfolio | 2,058,166 | ||||
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 17,048,645 | ||||
Allspring Factor Enhanced International Equity Portfolio | 59,748,379 | ||||
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 98,843,740 | ||||
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 24,866,326 | ||||
Allspring High Yield Corporate Bond Portfolio | 2,066,535 | ||||
Allspring Investment Grade Corporate Bond Portfolio | 12,682,562 | ||||
Total Investment companies (Cost $223,424,231) | 241,759,986 | ||||
Total investments in securities (Cost $223,424,231) | 99.56% | 241,759,986 | |||
Other assets and liabilities, net | 0.44 | 1,066,664 | |||
Total net assets | 100.00% | $242,826,650 |
% of ownership, beginning of period | % of ownership, end of period | Net realized gains (losses) on securities transactions allocated from affiliated Master Portfolios | Net change in unrealized gains (losses) on securities transactions allocated from affiliated Master Portfolios | Interest allocated from affiliated Master Portfolios | Dividends allocated from affiliated Master Portfolios | Affiliated income allocated from affiliated Master Portfolios | Value, end of period | ||||||||
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | 0.16% | 9.38% | $ (788,943) | $ (316,634) | $ 339,916 | $ 0 | $ 13,709 | $ 24,445,633 | |||||||
Allspring Emerging Markets Bond Portfolio | 0.21 | 15.18 | (45,436) | (19,403) | 63,988 | 0 | 531 | 2,058,166 | |||||||
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 0.43 | 16.42 | (1,084,662) | 1,029,089 | 0 | 232,383 | 11,575 | 17,048,645 | |||||||
Allspring Factor Enhanced International Equity Portfolio | 0.36 | 13.49 | 34,363 | 5,223,503 | 0 | 669,837 | 31,088 | 59,748,379 | |||||||
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 0.51 | 20.77 | 1,205,148 | (2,376,320) | 0 | 839,733 | 63,351 | 98,843,740 | |||||||
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 0.50 | 20.39 | (660,513) | 632,297 | 0 | 130,837 | 16,685 | 24,866,326 | |||||||
Allspring High Yield Corporate Bond Portfolio | 0.21 | 15.20 | (45,666) | (17,700) | 61,154 | 0 | 515 | 2,066,535 | |||||||
Allspring Investment Grade Corporate Bond Portfolio | 0.22 | 15.22 | (541,102) | (29,565) | 251,062 | 0 | 2,516 | 12,682,562 | |||||||
$(1,926,811) | $ 4,125,267 | $716,120 | $1,872,790 | $139,970 | $241,759,986 |
Description | Number of contracts | Expiration date | Notional cost | Notional value | Unrealized gains | Unrealized losses | |
Long | |||||||
Australian Dollar Futures | 70 | 3-13-2023 | $ 4,836,906 | $ 4,716,250 | $ 0 | $ (120,656) | |
Japanese Yen Futures | 75 | 3-13-2023 | 7,352,666 | 6,899,531 | 0 | (453,135) | |
E-Mini NASDAQ 100 Index | 26 | 3-17-2023 | 6,616,861 | 6,277,570 | 0 | (339,291) | |
FTSE 100 Index | 52 | 3-17-2023 | 4,993,785 | 4,917,226 | 0 | (76,559) | |
10-Year U.S. Treasury Notes | 128 | 6-21-2023 | 14,300,003 | 14,292,000 | 0 | (8,003) | |
Short | |||||||
E-Mini Russell 2000 Index | (1) | 3-17-2023 | (96,527) | (94,955) | 1,572 | 0 | |
E-Mini S&P 500 Index | (26) | 3-17-2023 | (5,295,796) | (5,168,150) | 127,646 | 0 | |
MSCI EAFE Index | (1) | 3-17-2023 | (104,504) | (102,330) | 2,174 | 0 | |
MSCI Emerging Markets Index | (1) | 3-17-2023 | (48,366) | (48,145) | 221 | 0 | |
$131,613 | $(997,644) |
Value | |||||
Investment companies: 99.53% | |||||
Affiliated master portfolios: 99.53% | |||||
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | $ 3,917,870 | ||||
Allspring Emerging Markets Bond Portfolio | 330,029 | ||||
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 4,214,434 | ||||
Allspring Factor Enhanced International Equity Portfolio | 14,673,189 | ||||
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 23,478,868 | ||||
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 5,931,528 | ||||
Allspring High Yield Corporate Bond Portfolio | 330,610 | ||||
Allspring Investment Grade Corporate Bond Portfolio | 2,034,261 | ||||
Total Investment companies (Cost $52,035,165) | 54,910,789 | ||||
Total investments in securities (Cost $52,035,165) | 99.53% | 54,910,789 | |||
Other assets and liabilities, net | 0.47 | 259,696 | |||
Total net assets | 100.00% | $55,170,485 |
% of ownership, beginning of period | % of ownership, end of period | Net realized gains (losses) on securities transactions allocated from affiliated Master Portfolios | Net change in unrealized gains (losses) on securities transactions allocated from affiliated Master Portfolios | Interest allocated from affiliated Master Portfolios | Dividends allocated from affiliated Master Portfolios | Affiliated income allocated from affiliated Master Portfolios | Value, end of period | ||||||||
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | 0.10% | 1.50% | $ (129,201) | $ (75,993) | $ 57,902 | $ 0 | $ 2,219 | $ 3,917,870 | |||||||
Allspring Emerging Markets Bond Portfolio | 0.13 | 2.43 | (10,620) | (3,711) | 10,889 | 0 | 80 | 330,029 | |||||||
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 0.41 | 4.06 | (323,931) | 228,866 | 0 | 68,393 | 2,725 | 4,214,434 | |||||||
Allspring Factor Enhanced International Equity Portfolio | 0.34 | 3.31 | (11,497) | 1,003,328 | 0 | 194,106 | 7,247 | 14,673,189 | |||||||
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 0.48 | 4.93 | 386,841 | (907,808) | 0 | 215,898 | 16,015 | 23,478,868 | |||||||
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 0.47 | 4.86 | (163,213) | 125,968 | 0 | 35,940 | 3,809 | 5,931,528 | |||||||
Allspring High Yield Corporate Bond Portfolio | 0.13 | 2.43 | (8,238) | (5,155) | 10,400 | 0 | 77 | 330,610 | |||||||
Allspring Investment Grade Corporate Bond Portfolio | 0.13 | 2.44 | (90,792) | (21,229) | 42,313 | 0 | 356 | 2,034,261 | |||||||
$(350,651) | $ 344,266 | $121,504 | $514,337 | $32,528 | $54,910,789 |
Description | Number of contracts | Expiration date | Notional cost | Notional value | Unrealized gains | Unrealized losses | |
Long | |||||||
Australian Dollar Futures | 16 | 3-13-2023 | $ 1,105,579 | $ 1,078,000 | $ 0 | $ (27,579) | |
Japanese Yen Futures | 17 | 3-13-2023 | 1,666,605 | 1,563,894 | 0 | (102,711) | |
E-Mini NASDAQ 100 Index | 6 | 3-17-2023 | 1,526,968 | 1,448,670 | 0 | (78,298) | |
FTSE 100 Index | 12 | 3-17-2023 | 1,152,411 | 1,134,744 | 0 | (17,667) | |
10-Year U.S. Treasury Notes | 29 | 6-21-2023 | 3,239,844 | 3,238,031 | 0 | (1,813) | |
Short | |||||||
E-Mini S&P 500 Index | (6) | 3-17-2023 | (1,221,971) | (1,192,650) | 29,321 | 0 | |
$29,321 | $(228,068) |
Value | |||||
Investment companies: 99.46% | |||||
Affiliated master portfolios: 99.46% | |||||
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | $ 3,735,381 | ||||
Allspring Emerging Markets Bond Portfolio | 314,612 | ||||
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 7,439,079 | ||||
Allspring Factor Enhanced International Equity Portfolio | 25,680,423 | ||||
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 40,456,022 | ||||
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 10,129,628 | ||||
Allspring High Yield Corporate Bond Portfolio | 315,211 | ||||
Allspring Investment Grade Corporate Bond Portfolio | 1,941,127 | ||||
Total Investment companies (Cost $81,344,818) | 90,011,483 | ||||
Total investments in securities (Cost $81,344,818) | 99.46% | 90,011,483 | |||
Other assets and liabilities, net | 0.54 | 487,878 | |||
Total net assets | 100.00% | $90,499,361 |
% of ownership, beginning of period | % of ownership, end of period | Net realized gains (losses) on securities transactions allocated from affiliated Master Portfolios | Net change in unrealized gains (losses) on securities transactions allocated from affiliated Master Portfolios | Interest allocated from affiliated Master Portfolios | Dividends allocated from affiliated Master Portfolios | Affiliated income allocated from affiliated Master Portfolios | Value, end of period | ||||||||
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | 0.05% | 1.43% | $ (163,146) | $ (8,791) | $ 50,568 | $ 0 | $ 1,904 | $ 3,735,381 | |||||||
Allspring Emerging Markets Bond Portfolio | 0.44 | 2.32 | (10,424) | (562) | 9,453 | 0 | 69 | 314,612 | |||||||
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 0.40 | 7.17 | (517,328) | 437,533 | 0 | 108,523 | 3,058 | 7,439,079 | |||||||
Allspring Factor Enhanced International Equity Portfolio | 0.33 | 5.80 | 63,111 | 2,014,003 | 0 | 310,534 | 12,577 | 25,680,423 | |||||||
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 0.45 | 8.50 | 657,350 | (1,315,927) | 0 | 356,881 | 29,304 | 40,456,022 | |||||||
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 0.06 | 8.31 | (297,523) | 294,448 | 0 | 57,274 | 6,522 | 10,129,628 | |||||||
Allspring High Yield Corporate Bond Portfolio | 0.07 | 2.32 | (10,613) | (14) | 9,029 | 0 | 65 | 315,211 | |||||||
Allspring Investment Grade Corporate Bond Portfolio | 0.06 | 2.33 | (109,588) | 17,881 | 44,073 | 0 | 301 | 1,941,127 | |||||||
$(388,161) | $ 1,438,571 | $113,123 | $833,212 | $53,800 | $90,011,483 |
Description | Number of contracts | Expiration date | Notional cost | Notional value | Unrealized gains | Unrealized losses | |
Long | |||||||
Australian Dollar Futures | 26 | 3-13-2023 | $ 1,796,565 | $ 1,751,750 | $ 0 | $ (44,815) | |
Japanese Yen Futures | 28 | 3-13-2023 | 2,744,997 | 2,575,825 | 0 | (169,172) | |
E-Mini NASDAQ 100 Index | 10 | 3-17-2023 | 2,544,946 | 2,414,450 | 0 | (130,496) | |
FTSE 100 Index | 20 | 3-17-2023 | 1,920,687 | 1,891,241 | 0 | (29,446) | |
10-Year U.S. Treasury Notes | 48 | 6-21-2023 | 5,362,501 | 5,359,500 | 0 | (3,001) | |
Short | |||||||
E-Mini S&P 500 Index | (9) | 3-17-2023 | (1,832,957) | (1,788,975) | 43,982 | 0 | |
$43,982 | $(376,930) |
Value | |||||
Investment companies: 98.65% | |||||
Affiliated master portfolios: 98.65% | |||||
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | $ 515,040 | ||||
Allspring Emerging Markets Bond Portfolio | 43,589 | ||||
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 1,491,042 | ||||
Allspring Factor Enhanced International Equity Portfolio | 5,069,138 | ||||
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 7,856,973 | ||||
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 1,975,074 | ||||
Allspring High Yield Corporate Bond Portfolio | 43,677 | ||||
Allspring Investment Grade Corporate Bond Portfolio | 267,722 | ||||
Total Investment companies (Cost $17,029,625) | 17,262,255 | ||||
Total investments in securities (Cost $17,029,625) | 98.65% | 17,262,255 | |||
Other assets and liabilities, net | 1.35 | 236,101 | |||
Total net assets | 100.00% | $17,498,356 |
% of ownership, beginning of period | % of ownership, end of period | Net realized gains (losses) on securities transactions allocated from affiliated Master Portfolios | Net change in unrealized gains (losses) on securities transactions allocated from affiliated Master Portfolios | Interest allocated from affiliated Master Portfolios | Dividends allocated from affiliated Master Portfolios | Affiliated income allocated from affiliated Master Portfolios | Value, end of period | ||||||||
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | 0.04% | 0.20% | $ (31,237) | $ (5,546) | $ 10,579 | $ 0 | $ 417 | $ 515,040 | |||||||
Allspring Emerging Markets Bond Portfolio | 0.06 | 0.32 | (3,561) | 10,580 | 1,873 | 0 | 16 | 43,589 | |||||||
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 0.43 | 1.44 | (177,292) | 76,139 | 0 | 33,898 | 1,054 | 1,491,042 | |||||||
Allspring Factor Enhanced International Equity Portfolio | 0.36 | 1.14 | (33,317) | 180,827 | 0 | 95,002 | 1,960 | 5,069,138 | |||||||
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 0.49 | 1.65 | 167,636 | (552,017) | 0 | 87,638 | 5,816 | 7,856,973 | |||||||
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 0.48 | 1.62 | (70,300) | 19,676 | 0 | 16,525 | 1,420 | 1,975,074 | |||||||
Allspring High Yield Corporate Bond Portfolio | 0.06 | 0.32 | (2,408) | 1,090 | 1,797 | 0 | 16 | 43,677 | |||||||
Allspring Investment Grade Corporate Bond Portfolio | 0.06 | 0.32 | (23,342) | (59) | 7,144 | 0 | 74 | 267,722 | |||||||
$(173,821) | $(269,310) | $21,393 | $233,063 | $10,773 | $17,262,255 |
Description | Number of contracts | Expiration date | Notional cost | Notional value | Unrealized gains | Unrealized losses | |
Long | |||||||
Japanese Yen Futures | 5 | 3-13-2023 | $ 490,178 | $ 459,969 | $ 0 | $ (30,209) | |
Australian Dollar Futures | 5 | 3-13-2023 | 345,493 | 336,875 | 0 | (8,618) | |
FTSE 100 Index | 4 | 3-17-2023 | 384,137 | 378,248 | 0 | (5,889) | |
Micro E-Mini NASDAQ 100 Index | 18 | 3-17-2023 | 458,112 | 434,601 | 0 | (23,511) | |
10-Year U.S. Treasury Notes | 9 | 6-21-2023 | 1,005,469 | 1,004,906 | 0 | (563) | |
Short | |||||||
Micro E-Mini S&P 500 Index | (18) | 3-17-2023 | (366,563) | (357,795) | 8,768 | 0 | |
$8,768 | $(68,790) |
Value | |||||
Investment companies: 97.96% | |||||
Affiliated master portfolios: 97.96% | |||||
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | $ 364,280 | ||||
Allspring Emerging Markets Bond Portfolio | 30,682 | ||||
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 1,059,948 | ||||
Allspring Factor Enhanced International Equity Portfolio | 3,591,319 | ||||
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 5,589,994 | ||||
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 1,404,121 | ||||
Allspring High Yield Corporate Bond Portfolio | 30,801 | ||||
Allspring Investment Grade Corporate Bond Portfolio | 189,363 | ||||
Total Investment companies (Cost $11,212,693) | 12,260,508 | ||||
Total investments in securities (Cost $11,212,693) | 97.96% | 12,260,508 | |||
Other assets and liabilities, net | 2.04 | 255,361 | |||
Total net assets | 100.00% | $12,515,869 |
% of ownership, beginning of period | % of ownership, end of period | Net realized gains (losses) on securities transactions allocated from affiliated Master Portfolios | Net change in unrealized gains (losses) on securities transactions allocated from affiliated Master Portfolios | Interest allocated from affiliated Master Portfolios | Dividends allocated from affiliated Master Portfolios | Affiliated income allocated from affiliated Master Portfolios | Value, end of period | ||||||||
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | 0.04% | 0.14% | $ (33,564) | $ 3,156 | $ 7,858 | $ 0 | $ 293 | $ 364,280 | |||||||
Allspring Emerging Markets Bond Portfolio | 0.05 | 0.23 | (3,533) | 803 | 1,414 | 0 | 10 | 30,682 | |||||||
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 0.38 | 1.02 | (146,481) | 52,895 | 0 | 26,736 | 708 | 1,059,948 | |||||||
Allspring Factor Enhanced International Equity Portfolio | 0.32 | 0.81 | (28,072) | 60,656 | 0 | 74,629 | 1,899 | 3,591,319 | |||||||
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 0.43 | 1.17 | 142,376 | (405,668) | 0 | 66,321 | 3,881 | 5,589,994 | |||||||
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 0.42 | 1.15 | (57,926) | 11,689 | 0 | 12,914 | 951 | 1,404,121 | |||||||
Allspring High Yield Corporate Bond Portfolio | 0.05 | 0.23 | (2,659) | 363 | 1,358 | 0 | 9 | 30,801 | |||||||
Allspring Investment Grade Corporate Bond Portfolio | 0.05 | 0.23 | (26,409) | 8,437 | 5,343 | 0 | 44 | 189,363 | |||||||
$(156,268) | $(267,669) | $15,973 | $180,600 | $7,795 | $12,260,508 |
Description | Number of contracts | Expiration date | Notional cost | Notional value | Unrealized gains | Unrealized losses | |
Long | |||||||
Japanese Yen Futures | 4 | 3-13-2023 | $ 392,142 | $ 367,975 | $ 0 | $ (24,167) | |
Australian Dollar Futures | 3 | 3-13-2023 | 207,296 | 202,125 | 0 | (5,171) | |
FTSE 100 Index | 3 | 3-17-2023 | 288,103 | 283,686 | 0 | (4,417) | |
Micro E-Mini NASDAQ 100 Index | 13 | 3-17-2023 | 330,859 | 313,879 | 0 | (16,980) | |
10-Year U.S. Treasury Notes | 6 | 6-21-2023 | 670,313 | 669,938 | 0 | (375) | |
Short | |||||||
Micro E-Mini S&P 500 Index | (13) | 3-17-2023 | (264,740) | (258,408) | 6,332 | 0 | |
$6,332 | $(51,110) |
Value | |||||
Investment companies: 97.53% | |||||
Affiliated master portfolios: 97.53% | |||||
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | $ 152,279 | ||||
Allspring Emerging Markets Bond Portfolio | 12,828 | ||||
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 444,134 | ||||
Allspring Factor Enhanced International Equity Portfolio | 1,502,857 | ||||
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 2,344,977 | ||||
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 587,928 | ||||
Allspring High Yield Corporate Bond Portfolio | 12,850 | ||||
Allspring Investment Grade Corporate Bond Portfolio | 79,126 | ||||
Total Investment companies (Cost $4,766,490) | 5,136,979 | ||||
Total investments in securities (Cost $4,766,490) | 97.53% | 5,136,979 | |||
Other assets and liabilities, net | 2.47 | 130,211 | |||
Total net assets | 100.00% | $5,267,190 |
% of ownership, beginning of period | % of ownership, end of period | Net realized gains (losses) on securities transactions allocated from affiliated Master Portfolios | Net change in unrealized gains (losses) on securities transactions allocated from affiliated Master Portfolios | Interest allocated from affiliated Master Portfolios | Dividends allocated from affiliated Master Portfolios | Affiliated income allocated from affiliated Master Portfolios | Value, end of period | ||||||||
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | 0.00% | 0.06% | $ (659) | $ (3,152) | $ 1,810 | $ 0 | $ 66 | $ 152,279 | |||||||
Allspring Emerging Markets Bond Portfolio | 0.00 | 0.09 | (6) | (157) | 366 | 0 | 2 | 12,828 | |||||||
Allspring Factor Enhanced Emerging Markets Equity Portfolio | 0.00 | 0.43 | 5,480 | (912) | 0 | 4,798 | 245 | 444,134 | |||||||
Allspring Factor Enhanced International Equity Portfolio | 0.00 | 0.34 | (103,342) | 222,889 | 0 | 12,519 | 648 | 1,502,857 | |||||||
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | 0.00 | 0.49 | (187,623) | 135,963 | 0 | 16,880 | 1,432 | 2,344,977 | |||||||
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | 0.00 | 0.48 | (12,654) | 17,891 | 0 | 2,410 | 332 | 587,928 | |||||||
Allspring High Yield Corporate Bond Portfolio | 0.00 | 0.09 | 32 | (361) | 352 | 0 | 2 | 12,850 | |||||||
Allspring Investment Grade Corporate Bond Portfolio | 0.00 | 0.09 | 263 | (1,664) | 2,131 | 0 | 12 | 79,126 | |||||||
$ (298,509) | $ 370,497 | $4,659 | $36,607 | $2,739 | $5,136,979 |
Description | Number of contracts | Expiration date | Notional cost | Notional value | Unrealized gains | Unrealized losses | |
Long | |||||||
Australian Dollar Futures | 1 | 3-13-2023 | $ 69,099 | $ 67,375 | $ 0 | $ (1,724) | |
Japanese Yen Futures | 2 | 3-13-2023 | 196,071 | 183,987 | 0 | (12,084) | |
FTSE 100 Index | 1 | 3-17-2023 | 96,034 | 94,562 | 0 | (1,472) | |
Micro E-Mini NASDAQ 100 Index | 5 | 3-17-2023 | 127,253 | 120,723 | 0 | (6,530) | |
10-Year U.S. Treasury Notes | 3 | 6-21-2023 | 335,156 | 334,968 | 0 | (188) | |
Short | |||||||
Micro E-Mini S&P 500 Index | (5) | 3-17-2023 | (101,823) | (99,388) | 2,435 | 0 | |
$2,435 | $(21,998) |
Dynamic Target Today Fund | Dynamic Target 2015 Fund | Dynamic Target 2020 Fund | |
Assets | |||
Investments in affiliated Master Portfolios, at value (see cost below) | $ 63,175,929 | $ 27,029,269 | $ 136,718,408 |
Cash | 10,000 | 10,000 | 122,047 |
Cash at broker segregated for futures contracts | 338,900 | 145,000 | 660,000 |
Receivable for Fund shares sold | 14,819 | 19 | 37,027 |
Receivable from manager | 13,453 | 13,307 | 11,042 |
Prepaid expenses and other assets | 271,249 | 97,855 | 127,434 |
Total assets | 63,824,350 | 27,295,450 | 137,675,958 |
Liabilities | |||
Payable for Fund shares redeemed | 18,104 | 200,382 | 331,387 |
Shareholder servicing fees payable | 11,610 | 4,941 | 24,337 |
Administration fees payable | 9,317 | 4,049 | 19,292 |
Trustees’ fees and expenses payable | 4,890 | 3,916 | 5,019 |
Payable for daily variation margin on open futures contracts | 4,789 | 1,875 | 8,300 |
Distribution fee payable | 80 | 18 | 588 |
Shareholder report expenses payable | 0 | 7,919 | 0 |
Accrued expenses and other liabilities | 4,421 | 0 | 2,366 |
Total liabilities | 53,211 | 223,100 | 391,289 |
Total net assets | $63,771,139 | $27,072,350 | $137,284,669 |
Net assets consist of | |||
Paid-in capital | $ 49,176,209 | $ 21,975,588 | $ 122,130,671 |
Total distributable earnings | 14,594,930 | 5,096,762 | 15,153,998 |
Total net assets | $63,771,139 | $27,072,350 | $137,284,669 |
Computation of net asset value and offering price per share | |||
Net assets – Class A | $ 49,774,622 | $ 22,308,950 | $ 97,039,404 |
Shares outstanding – Class A1 | 5,202,087 | 2,317,977 | 9,965,941 |
Net asset value per share – Class A | $9.57 | $9.62 | $9.74 |
Maximum offering price per share – Class A2 | $10.15 | $10.21 | $10.33 |
Net assets – Class C | $ 139,930 | $ 108,167 | $ 961,424 |
Shares outstanding – Class C1 | 14,622 | 11,242 | 98,684 |
Net asset value per share – Class C | $9.57 | $9.62 | $9.74 |
Net assets – Class R4 | $ 1,640,129 | $ 14,471 | $ 8,583,259 |
Shares outstanding – Class R41 | 170,728 | 1,490 | 873,157 |
Net asset value per share – Class R4 | $9.61 | $9.71 | $9.83 |
Net assets – Class R6 | $ 3,676,985 | $ 1,940,463 | $ 7,731,750 |
Shares outstanding – Class R61 | 382,005 | 200,728 | 785,134 |
Net asset value per share – Class R6 | $9.63 | $9.67 | $9.85 |
Net assets – Administrator Class | $ 8,539,473 | $ 2,700,299 | $ 22,968,832 |
Shares outstanding – Administrator Class1 | 888,068 | 279,669 | 2,333,223 |
Net asset value per share – Administrator Class | $9.62 | $9.66 | $9.84 |
Investments in affiliated Master Portfolios, at cost | $ 45,137,365 | $ 20,053,834 | $ 115,927,178 |
1 | Each Fund has an unlimited number of authorized shares. |
2 | Maximum offering price is computed as 100/94.25 of net asset value. On investments of $50,000 or more, the offering price is reduced. |
Dynamic Target 2025 Fund | Dynamic Target 2030 Fund | Dynamic Target 2035 Fund | |
Assets | |||
Investments in affiliated Master Portfolios, at value (see cost below) | $ 88,746,648 | $ 225,355,045 | $ 111,769,754 |
Cash | 46,038 | 142,049 | 43,037 |
Cash at broker segregated for futures contracts | 437,000 | 1,121,200 | 548,200 |
Receivable for Fund shares sold | 19,957 | 107,807 | 8,418 |
Receivable from manager | 13,280 | 15,288 | 13,944 |
Prepaid expenses and other assets | 139,047 | 145,306 | 115,418 |
Total assets | 89,401,970 | 226,886,695 | 112,498,771 |
Liabilities | |||
Payable for Fund shares redeemed | 18,869 | 2,258,895 | 1,102,662 |
Shareholder servicing fees payable | 14,190 | 36,195 | 17,484 |
Administration fees payable | 11,979 | 28,379 | 14,959 |
Trustees’ fees and expenses payable | 4,561 | 4,616 | 4,625 |
Payable for daily variation margin on open futures contracts | 5,390 | 13,675 | 7,376 |
Distribution fee payable | 13 | 381 | 119 |
Accrued expenses and other liabilities | 541 | 10,420 | 32,727 |
Total liabilities | 55,543 | 2,352,561 | 1,179,952 |
Total net assets | $89,346,427 | $224,534,134 | $111,318,819 |
Net assets consist of | |||
Paid-in capital | $ 90,307,092 | $ 213,203,841 | $ 107,830,095 |
Total distributable earnings (loss) | (960,665) | 11,330,293 | 3,488,724 |
Total net assets | $89,346,427 | $224,534,134 | $111,318,819 |
Computation of net asset value and offering price per share | |||
Net assets – Class A | $ 65,685,839 | $ 130,398,712 | $ 83,061,185 |
Shares outstanding – Class A1 | 6,367,059 | 12,550,095 | 7,980,259 |
Net asset value per share – Class A | $10.32 | $10.39 | $10.41 |
Maximum offering price per share – Class A2 | $10.95 | $11.02 | $11.05 |
Net assets – Class C | $ 27,977 | $ 632,462 | $ 45,364 |
Shares outstanding – Class C1 | 2,625 | 60,873 | 4,282 |
Net asset value per share – Class C | $10.66 | $10.39 | $10.59 |
Net assets – Class R4 | $ 678,179 | $ 19,080,159 | $ 1,646,962 |
Shares outstanding – Class R41 | 65,137 | 1,813,573 | 156,447 |
Net asset value per share – Class R4 | $10.41 | $10.52 | $10.53 |
Net assets – Class R6 | $ 17,172,884 | $ 31,145,209 | $ 22,278,900 |
Shares outstanding – Class R61 | 1,646,517 | 2,954,314 | 2,112,117 |
Net asset value per share – Class R6 | $10.43 | $10.54 | $10.55 |
Net assets – Administrator Class | $ 5,781,548 | $ 43,277,592 | $ 4,286,408 |
Shares outstanding – Administrator Class1 | 554,722 | 4,107,872 | 406,590 |
Net asset value per share – Administrator Class | $10.42 | $10.54 | $10.54 |
Investments in affiliated Master Portfolios, at cost | $ 83,275,167 | $ 207,729,488 | $ 105,879,196 |
1 | Each Fund has an unlimited number of authorized shares. |
2 | Maximum offering price is computed as 100/94.25 of net asset value. On investments of $50,000 or more, the offering price is reduced. |
Dynamic Target 2040 Fund | Dynamic Target 2045 Fund | Dynamic Target 2050 Fund | |
Assets | |||
Investments in affiliated Master Portfolios, at value (see cost below) | $ 241,759,986 | $ 54,910,789 | $ 90,011,483 |
Cash | 93,043 | 10,033 | 10,033 |
Cash at broker segregated for futures contracts | 1,193,000 | 283,000 | 466,999 |
Receivable for Fund shares sold | 173,080 | 6,107 | 124,438 |
Receivable from manager | 15,298 | 14,507 | 16,003 |
Prepaid expenses and other assets | 206,361 | 129,111 | 170,882 |
Total assets | 243,440,768 | 55,353,547 | 90,799,838 |
Liabilities | |||
Payable for Fund shares redeemed | 494,617 | 137,015 | 256,570 |
Shareholder servicing fees payable | 38,599 | 6,978 | 11,686 |
Administration fees payable | 31,118 | 6,240 | 9,178 |
Trustees’ fees and expenses payable | 4,885 | 5,261 | 3,995 |
Payable for daily variation margin on open futures contracts | 13,677 | 3,444 | 6,408 |
Distribution fee payable | 428 | 17 | 196 |
Shareholder report expenses payable | 0 | 6,956 | 0 |
Accrued expenses and other liabilities | 30,794 | 17,151 | 12,444 |
Total liabilities | 614,118 | 183,062 | 300,477 |
Total net assets | $242,826,650 | $55,170,485 | $90,499,361 |
Net assets consist of | |||
Paid-in capital | $ 228,726,654 | $ 53,848,030 | $ 84,033,337 |
Total distributable earnings | 14,099,996 | 1,322,455 | 6,466,024 |
Total net assets | $242,826,650 | $55,170,485 | $90,499,361 |
Computation of net asset value and offering price per share | |||
Net assets – Class A | $ 152,083,984 | $ 33,538,932 | $ 35,369,408 |
Shares outstanding – Class A1 | 14,921,403 | 3,261,287 | 3,395,642 |
Net asset value per share – Class A | $10.19 | $10.28 | $10.42 |
Maximum offering price per share – Class A2 | $10.81 | $10.91 | $11.06 |
Net assets – Class C | $ 715,804 | $ 32,733 | $ 335,285 |
Shares outstanding – Class C1 | 70,118 | 3,152 | 32,312 |
Net asset value per share – Class C | $10.21 | $10.38 | $10.38 |
Net assets – Class R4 | $ 25,030,349 | $ 710,872 | $ 11,260,802 |
Shares outstanding – Class R41 | 2,421,756 | 68,333 | 1,071,938 |
Net asset value per share – Class R4 | $10.34 | $10.40 | $10.51 |
Net assets – Class R6 | $ 31,469,204 | $ 19,625,904 | $ 24,829,766 |
Shares outstanding – Class R61 | 3,040,221 | 1,882,320 | 2,357,895 |
Net asset value per share – Class R6 | $10.35 | $10.43 | $10.53 |
Net assets – Administrator Class | $ 33,527,309 | $ 1,262,044 | $ 18,704,100 |
Shares outstanding – Administrator Class1 | 3,240,901 | 121,113 | 1,777,360 |
Net asset value per share – Administrator Class | $10.35 | $10.42 | $10.52 |
Investments in affiliated Master Portfolios, at cost | $ 223,424,231 | $ 52,035,165 | $ 81,344,818 |
1 | Each Fund has an unlimited number of authorized shares. |
2 | Maximum offering price is computed as 100/94.25 of net asset value. On investments of $50,000 or more, the offering price is reduced. |
Dynamic Target 2055 Fund | Dynamic Target 2060 Fund | Dynamic Target 2065 Fund | |
Assets | |||
Investments in affiliated Master Portfolios, at value (see cost below) | $ 17,262,255 | $ 12,260,508 | $ 5,136,979 |
Cash | 10,033 | 10,033 | 0 |
Cash at broker segregated for futures contracts | 87,000 | 62,000 | 28,000 |
Receivable for Fund shares sold | 13,081 | 55,467 | 0 |
Receivable from manager | 14,622 | 15,751 | 11,781 |
Prepaid expenses and other assets | 126,048 | 150,780 | 101,170 |
Total assets | 17,513,039 | 12,554,539 | 5,277,930 |
Liabilities | |||
Payable for Fund shares redeemed | 4,242 | 32,135 | 0 |
Shareholder servicing fees payable | 1,363 | 948 | 70 |
Administration fees payable | 1,320 | 793 | 166 |
Trustees’ fees and expenses payable | 4,083 | 3,378 | 1,671 |
Payable for daily variation margin on open futures contracts | 1,295 | 1,003 | 212 |
Distribution fee payable | 23 | 68 | 14 |
Shareholder report expenses payable | 0 | 0 | 7,942 |
Accrued expenses and other liabilities | 2,357 | 345 | 665 |
Total liabilities | 14,683 | 38,670 | 10,740 |
Total net assets | $17,498,356 | $12,515,869 | $5,267,190 |
Net assets consist of | |||
Paid-in capital | $ 17,682,177 | $ 11,687,418 | $ 5,126,280 |
Total distributable earnings (loss) | (183,821) | 828,451 | 140,910 |
Total net assets | $17,498,356 | $12,515,869 | $5,267,190 |
Computation of net asset value and offering price per share | |||
Net assets – Class A | $ 5,617,578 | $ 1,392,353 | $ 103,190 |
Shares outstanding – Class A1 | 531,773 | 131,539 | 5,021 |
Net asset value per share – Class A | $10.56 | $10.59 | $20.55 |
Maximum offering price per share – Class A2 | $11.20 | $11.24 | $21.80 |
Net assets – Class C | $ 44,301 | $ 109,453 | $ 102,833 |
Shares outstanding – Class C1 | 4,161 | 10,330 | 5,021 |
Net asset value per share – Class C | $10.65 | $10.60 | $20.48 |
Net assets – Class R4 | $ 624,686 | $ 2,969,372 | $ 128,050 |
Shares outstanding – Class R41 | 58,634 | 277,537 | 6,228 |
Net asset value per share – Class R4 | $10.65 | $10.70 | $20.56 |
Net assets – Class R6 | $ 10,205,781 | $ 5,970,667 | $ 4,829,873 |
Shares outstanding – Class R61 | 956,326 | 556,976 | 234,837 |
Net asset value per share – Class R6 | $10.67 | $10.72 | $20.57 |
Net assets – Administrator Class | $ 1,006,010 | $ 2,074,024 | $ 103,244 |
Shares outstanding – Administrator Class1 | 94,346 | 193,535 | 5,023 |
Net asset value per share – Administrator Class | $10.66 | $10.72 | $20.55 |
Investments in affiliated Master Portfolios, at cost | $ 17,029,625 | $ 11,212,693 | $ 4,766,490 |
1 | Each Fund has an unlimited number of authorized shares. |
2 | Maximum offering price is computed as 100/94.25 of net asset value. On investments of $50,000 or more, the offering price is reduced. |
Dynamic Target Today Fund | Dynamic Target 2015 Fund | Dynamic Target 2020 Fund | |
Investment income | |||
Interest allocated from affiliated Master Portfolios* | $ 681,094 | $ 292,465 | $ 1,094,353 |
Dividends allocated from affiliated Master Portfolios** | 267,086 | 150,498 | 716,005 |
Affiliated income allocated from affiliated Master Portfolios | 32,283 | 14,856 | 70,751 |
Expenses allocated from affiliated Master Portfolios | (93,745) | (42,804) | (190,249) |
Waivers allocated from affiliated Master Portfolios | 58,821 | 25,694 | 113,198 |
Total investment income | 945,539 | 440,709 | 1,804,058 |
Expenses | |||
Management fee | 36,602 | 17,320 | 74,988 |
Administration fees | |||
Class A | 54,381 | 25,191 | 105,194 |
Class C | 295 | 230 | 1,245 |
Class R4 | 640 | 51 | 3,488 |
Class R6 | 1,608 | 1,101 | 2,455 |
Administrator Class | 5,761 1 | 1,938 1 | 15,374 1 |
Shareholder servicing fees | |||
Class A | 64,608 | 29,974 | 124,735 |
Class C | 345 | 273 | 1,448 |
Class R4 | 799 | 62 | 4,360 |
Administrator Class | 11,080 1 | 3,459 1 | 29,431 1 |
Distribution fee | |||
Class C | 1,055 | 820 | 4,445 |
Custody and accounting fees | 2,438 | 2,357 | 2,649 |
Professional fees | 33,398 | 30,954 | 34,664 |
Registration fees | 67,007 | 57,943 | 58,841 |
Shareholder report expenses | 28,653 | 29,147 | 30,451 |
Trustees’ fees and expenses | 21,783 | 21,782 | 21,783 |
Other fees and expenses | 3,787 | 2,702 | 2,755 |
Total expenses | 334,240 | 225,304 | 518,306 |
Less: Fee waivers and/or expense reimbursements | |||
Fund-level | (176,437) | (150,068) | (199,103) |
Class A | 0 | (4,249) | 0 |
Class C | (1,484) | (1,236) | (1,179) |
Class R4 | (1,025) | (113) | (1,381) |
Class R6 | (1,608) | (1,101) | (2,455) |
Administrator Class | (271) 1 | 0 1 | (1,183) 1 |
Net expenses | 153,415 | 68,537 | 313,005 |
Net investment income | 792,124 | 372,172 | 1,491,053 |
Realized and unrealized gains (losses) on investments | |||
Net realized gains (losses) on | |||
Securities transactions allocated from affiliated Master Portfolios | (1,283,571) | (514,963) | (2,069,816) |
Futures contracts | 23,991 | 32,995 | 414,736 |
Net realized losses on investments | (1,259,580) | (481,968) | (1,655,080) |
Net change in unrealized gains (losses) on | |||
Securities transactions allocated from affiliated Master Portfolios | (743,161) | (545,726) | (522,490) |
Futures contracts | (190,376) | (55,348) | (424,459) |
Net change in unrealized gains (losses) on investments | (933,537) | (601,074) | (946,949) |
Net realized and unrealized gains (losses) on investments | (2,193,117) | (1,083,042) | (2,602,029) |
Net decrease in net assets resulting from operations | $(1,400,993) | $ (710,870) | $(1,110,976) |
*Net of foreign interest withholding taxes allocated from affiliated Master Portfolios in the amount of | $14 | $6 | $23 |
**Net of foreign dividend withholding taxes allocated from affiliated Master Portfolios in the amount of | 14,290 | 8,422 | 37,509 |
1 | For the period from August 26, 2022 (commencement of class operations) to February 28, 2023 |
Dynamic Target 2025 Fund | Dynamic Target 2030 Fund | Dynamic Target 2035 Fund | |
Investment income | |||
Interest allocated from affiliated Master Portfolios* | $ 637,258 | $ 1,121,791 | $ 449,984 |
Dividends allocated from affiliated Master Portfolios** | 611,346 | 1,585,938 | 893,924 |
Affiliated income allocated from affiliated Master Portfolios | 50,821 | 129,190 | 65,462 |
Expenses allocated from affiliated Master Portfolios | (123,813) | (258,504) | (121,257) |
Waivers allocated from affiliated Master Portfolios | 66,681 | 117,599 | 47,454 |
Total investment income | 1,242,293 | 2,696,014 | 1,335,567 |
Expenses | |||
Management fee | 53,359 | 122,581 | 62,414 |
Administration fees | |||
Class A | 75,334 | 141,606 | 88,644 |
Class C | 156 | 903 | 190 |
Class R4 | 331 | 7,489 | 665 |
Class R6 | 4,254 | 6,725 | 5,013 |
Administrator Class | 3,684 1 | 29,991 1 | 3,359 |
Shareholder servicing fees | |||
Class A | 89,585 | 168,008 | 105,519 |
Class C | 182 | 1,055 | 226 |
Class R4 | 370 | 9,361 | 829 |
Administrator Class | 6,915 1 | 57,400 1 | 6,011 |
Distribution fee | |||
Class C | 556 | 3,226 | 680 |
Custody and accounting fees | 3,509 | 7,134 | 4,942 |
Professional fees | 31,007 | 33,667 | 33,711 |
Registration fees | 53,585 | 59,777 | 55,498 |
Shareholder report expenses | 30,041 | 31,782 | 28,845 |
Trustees’ fees and expenses | 21,782 | 21,782 | 21,782 |
Other fees and expenses | 3,350 | 4,529 | 3,620 |
Total expenses | 378,000 | 707,016 | 421,948 |
Less: Fee waivers and/or expense reimbursements | |||
Fund-level | (170,752) | (255,131) | (197,154) |
Class A | (9,309) | 0 | 0 |
Class C | (894) | (1,100) | (1,095) |
Class R4 | (431) | (1,477) | (616) |
Class R6 | (4,254) | (6,725) | (5,013) |
Administrator Class | 0 1 | (2,307) 1 | 0 1 |
Net expenses | 192,360 | 440,276 | 218,070 |
Net investment income | 1,049,933 | 2,255,738 | 1,117,497 |
Realized and unrealized gains (losses) on investments | |||
Net realized gains (losses) on | |||
Securities transactions allocated from affiliated Master Portfolios | (1,209,481) | (2,712,293) | (1,191,196) |
Futures contracts | 266,234 | 2,327,980 | 1,075,476 |
Net realized losses on investments | (943,247) | (384,313) | (115,720) |
Net change in unrealized gains (losses) on | |||
Securities transactions allocated from affiliated Master Portfolios | (570,592) | 1,978,525 | 933,051 |
Futures contracts | (192,161) | (687,008) | (269,611) |
Net change in unrealized gains (losses) on investments | (762,753) | 1,291,517 | 663,440 |
Net realized and unrealized gains (losses) on investments | (1,706,000) | 907,204 | 547,720 |
Net increase (decrease) in net assets resulting from operations | $ (656,067) | $ 3,162,942 | $ 1,665,217 |
*Net of foreign interest withholding taxes allocated from affiliated Master Portfolios in the amount of | $13 | $27 | $10 |
**Net of foreign dividend withholding taxes allocated from affiliated Master Portfolios in the amount of | 35,310 | 93,877 | 56,639 |
1 | For the period from August 26, 2022 (commencement of class operations) to February 28, 2023 |
Dynamic Target 2040 Fund | Dynamic Target 2045 Fund | Dynamic Target 2050 Fund | |
Investment income | |||
Interest allocated from affiliated Master Portfolios* | $ 716,120 | $ 121,504 | $ 113,123 |
Dividends allocated from affiliated Master Portfolios** | 1,872,790 | 514,337 | 833,212 |
Affiliated income allocated from affiliated Master Portfolios | 139,970 | 32,528 | 53,800 |
Expenses allocated from affiliated Master Portfolios | (240,414) | (58,205) | (90,822) |
Waivers allocated from affiliated Master Portfolios | 87,445 | 19,334 | 28,329 |
Total investment income | 2,575,911 | 629,498 | 937,642 |
Expenses | |||
Management fee | 125,430 | 31,187 | 48,813 |
Administration fees | |||
Class A | 160,241 | 35,487 | 37,288 |
Class C | 915 | 187 | 594 |
Class R4 | 9,645 | 335 | 4,566 |
Class R6 | 5,804 | 3,942 | 4,707 |
Administrator Class | 22,598 1 | 838 1 | 12,259 1 |
Shareholder servicing fees | |||
Class A | 190,055 | 42,187 | 44,240 |
Class C | 1,062 | 222 | 707 |
Class R4 | 12,056 | 408 | 5,708 |
Administrator Class | 43,200 1 | 1,582 1 | 23,576 1 |
Distribution fee | |||
Class C | 3,268 | 667 | 2,121 |
Custody and accounting fees | 7,289 | 3,119 | 4,456 |
Professional fees | 31,607 | 31,674 | 32,897 |
Registration fees | 59,099 | 53,297 | 58,675 |
Shareholder report expenses | 31,503 | 24,057 | 30,918 |
Trustees’ fees and expenses | 21,782 | 21,782 | 21,783 |
Other fees and expenses | 4,707 | 3,246 | 4,546 |
Total expenses | 730,261 | 254,217 | 337,854 |
Less: Fee waivers and/or expense reimbursements | |||
Fund-level | (258,572) | (162,764) | (196,846) |
Class C | (1,414) | (1,076) | (1,422) |
Class R4 | (3,858) | (671) | (2,060) |
Class R6 | (5,804) | (3,942) | (4,707) |
Administrator Class | (3,477) 1 | (64) 1 | (943) 1 |
Net expenses | 457,136 | 85,700 | 131,876 |
Net investment income | 2,118,775 | 543,798 | 805,766 |
Realized and unrealized gains (losses) on investments | |||
Net realized gains (losses) on | |||
Securities transactions allocated from affiliated Master Portfolios | (1,926,811) | (350,651) | (388,161) |
Futures contracts | 3,165,166 | 607,411 | 1,171,426 |
Net realized gains on investments | 1,238,355 | 256,760 | 783,265 |
Net change in unrealized gains (losses) on | |||
Securities transactions allocated from affiliated Master Portfolios | 4,125,267 | 344,266 | 1,438,571 |
Futures contracts | (754,150) | (86,518) | (236,738) |
Net change in unrealized gains (losses) on investments | 3,371,117 | 257,748 | 1,201,833 |
Net realized and unrealized gains (losses) on investments | 4,609,472 | 514,508 | 1,985,098 |
Net increase in net assets resulting from operations | $ 6,728,247 | $1,058,306 | $2,790,864 |
*Net of foreign interest withholding taxes allocated from affiliated Master Portfolios in the amount of | $17 | $3 | $3 |
**Net of foreign dividend withholding taxes allocated from affiliated Master Portfolios in the amount of | 115,821 | 34,046 | 54,142 |
1 | For the period from August 26, 2022 (commencement of class operations) to February 28, 2023 |
Dynamic Target 2055 Fund | Dynamic Target 2060 Fund | Dynamic Target 2065 Fund1 | |
Investment income | |||
Interest allocated from affiliated Master Portfolios* | $ 21,393 | $ 15,973 | $ 4,659 |
Dividends allocated from affiliated Master Portfolios** | 233,063 | 180,600 | 36,607 |
Affiliated income allocated from affiliated Master Portfolios | 10,773 | 7,795 | 2,739 |
Expenses allocated from affiliated Master Portfolios | (22,473) | (17,693) | (4,186) |
Waivers allocated from affiliated Master Portfolios | 7,520 | 5,823 | 1,234 |
Total investment income | 250,276 | 192,498 | 41,053 |
Expenses | |||
Management fee | 12,269 | 9,364 | 2,322 |
Administration fees | |||
Class A | 6,266 | 1,972 | 97 |
Class C | 199 | 254 | 97 |
Class R4 | 285 | 1,168 | 37 |
Class R6 | 2,505 | 1,737 | 641 |
Administrator Class | 634 2 | 1,377 2 | 60 |
Shareholder servicing fees | |||
Class A | 7,460 | 2,348 | 116 |
Class C | 237 | 298 | 115 |
Class R4 | 352 | 1,460 | 47 |
Administrator Class | 1,094 2 | 2,647 2 | 116 |
Distribution fee | |||
Class C | 712 | 906 | 346 |
Custody and accounting fees | 3,232 | 2,548 | 1,111 |
Professional fees | 33,792 | 33,626 | 17,902 |
Registration fees | 53,208 | 58,219 | 26,012 |
Shareholder report expenses | 29,473 | 28,456 | 13,372 |
Trustees’ fees and expenses | 21,782 | 21,665 | 10,268 |
Other fees and expenses | 3,003 | 3,087 | 2,340 |
Total expenses | 176,503 | 171,132 | 74,999 |
Less: Fee waivers and/or expense reimbursements | |||
Fund-level | (153,293) | (155,624) | (73,027) |
Class A | (1,252) | (532) | 0 |
Class C | (1,024) | (625) | 0 |
Class R4 | (432) | (238) | (13) |
Class R6 | (2,505) | (1,737) | (641) |
Administrator Class | 0 2 | 0 2 | (14) |
Net expenses | 17,997 | 12,376 | 1,304 |
Net investment income | 232,279 | 180,122 | 39,749 |
Realized and unrealized gains (losses) on investments | |||
Net realized gains (losses) on | |||
Securities transactions allocated from affiliated Master Portfolios | (173,821) | (156,268) | (298,509) |
Futures contracts | 16,173 | (8,482) | 75,997 |
Net realized losses on investments | (157,648) | (164,750) | (222,512) |
Net change in unrealized gains (losses) on | |||
Securities transactions allocated from affiliated Master Portfolios | (269,310) | (267,669) | 370,497 |
Futures contracts | 49,616 | 44,313 | (19,563) |
Net change in unrealized gains (losses) on investments | (219,694) | (223,356) | 350,934 |
Net realized and unrealized gains (losses) on investments | (377,342) | (388,106) | 128,422 |
Net increase (decrease) in net assets resulting from operations | $(145,063) | $(207,984) | $ 168,171 |
**Net of foreign dividend withholding taxes allocated from affiliated Master Portfolios in the amount of | $17,054 | $13,469 | $2,519 |
1 | For the period from September 13, 2022 (commencement of operations) to February 28, 2023 |
2 | For the period from August 26, 2022 (commencement of class operations) to February 28, 2023 |
Dynamic Target Today Fund | ||||
Year ended February 28, 2023 | Year ended February 28, 2022 | |||
Operations | ||||
Net investment income | $ 792,124 | $ 134,915 | ||
Net realized gains (losses) on investments | (1,259,580) | 461,455 | ||
Net change in unrealized gains (losses) on investments | (933,537) | (459,694) | ||
Net increase (decrease) in net assets resulting from operations | (1,400,993) | 136,676 | ||
Distributions to shareholders from | ||||
Net investment income and net realized gains | ||||
Class A | (483,124) | (61,514) | ||
Class C | (934) | (10,927) | ||
Class R4 | (15,720) | (10,590) | ||
Class R6 | (55,808) | (559,395) | ||
Administrator Class | (84,708) 1 | N/A | ||
Total distributions to shareholders | (640,294) | (642,426) | ||
Capital share transactions | Shares | Shares | ||
Proceeds from shares sold | ||||
Class A | 31,199 | 299,402 | 24,954 | 288,776 |
Class C | 178 | 1,706 | 927 | 11,000 |
Class R4 | 35,364 | 340,543 | 0 | 0 |
Class R6 | 147,254 | 1,441,445 | 7,453 | 86,403 |
Administrator Class | 41,497 1 | 392,752 1 | N/A | N/A |
2,475,848 | 386,179 | |||
Reinvestment of distributions | ||||
Class A | 50,466 | 479,236 | 5,475 | 61,514 |
Class C | 98 | 934 | 972 | 10,927 |
Class R4 | 1,650 | 15,719 | 940 | 10,590 |
Class R6 | 5,847 | 55,808 | 49,588 | 559,395 |
Administrator Class | 8,883 1 | 84,708 1 | N/A | N/A |
636,405 | 642,426 | |||
Payment for shares redeemed | ||||
Class A | (356,838) | (3,396,865) | (25,796) | (294,339) |
Class C | (17,416) | (167,196) | (229) | (2,659) |
Class R4 | (16,168) | (157,114) | 0 | 0 |
Class R6 | (720,582) | (6,987,400) | (8,257) | (96,039) |
Administrator Class | (143,473) 1 | (1,348,825) 1 | N/A | N/A |
(12,057,400) | (393,037) | |||
Net asset value of shares issued in acquisition | ||||
Class A | 5,414,439 | 52,870,470 | 0 | 0 |
Class C | 19,655 | 192,057 | 0 | 0 |
Class R4 | 138,663 | 1,358,561 | 0 | 0 |
Class R6 | 365,932 | 3,589,843 | 0 | 0 |
Administrator Class | 981,161 | 9,625,297 | N/A | N/A |
67,636,228 | 0 | |||
Net increase in net assets resulting from capital share transactions | 58,691,081 | 635,568 | ||
Total increase in net assets | 56,649,794 | 129,818 | ||
Net assets | ||||
Beginning of period | 7,121,345 | 6,991,527 | ||
End of period | $ 63,771,139 | $7,121,345 |
1 | For the period from August 26, 2022 (commencement of class operations) to February 28, 2023 |
Dynamic Target 2015 Fund | ||||
Year ended February 28, 2023 | Year ended February 28, 2022 | |||
Operations | ||||
Net investment income | $ 372,172 | $ 120,305 | ||
Net realized gains (losses) on investments | (481,968) | 467,706 | ||
Net change in unrealized gains (losses) on investments | (601,074) | (417,045) | ||
Net increase (decrease) in net assets resulting from operations | (710,870) | 170,966 | ||
Distributions to shareholders from | ||||
Net investment income and net realized gains | ||||
Class A | (256,853) | (60,659) | ||
Class C | (884) | (10,945) | ||
Class R4 | (43) | (11,671) | ||
Class R6 | (25,412) | (546,218) | ||
Administrator Class | (33,601) 1 | N/A | ||
Total distributions to shareholders | (316,793) | (629,493) | ||
Capital share transactions | Shares | Shares | ||
Proceeds from shares sold | ||||
Class A | 28,842 | 280,741 | 15,291 | 171,461 |
Class R4 | 1,174 | 11,173 | 0 | 0 |
Class R6 | 119,179 | 1,172,993 | 15 | 176 |
Administrator Class | 3,424 1 | 31,730 1 | N/A | N/A |
1,496,637 | 171,637 | |||
Reinvestment of distributions | ||||
Class A | 26,849 | 255,654 | 5,372 | 60,659 |
Class C | 93 | 884 | 969 | 10,945 |
Class R4 | 4 | 43 | 1,032 | 11,671 |
Class R6 | 2,658 | 25,412 | 48,223 | 546,218 |
Administrator Class | 3,518 1 | 33,601 1 | N/A | N/A |
315,594 | 629,493 | |||
Payment for shares redeemed | ||||
Class A | (234,069) | (2,247,046) | (2,501) | (30,361) |
Class R4 | (12,526) | (121,951) | 0 | 0 |
Class R6 | (579,403) | (5,640,359) | (33) | (409) |
Administrator Class | (51,151) 1 | (485,702) 1 | N/A | N/A |
(8,495,058) | (30,770) | |||
Net asset value of shares issued in acquisition | ||||
Class A | 2,427,530 | 23,721,868 | 0 | 0 |
Class R4 | 1,510 | 14,781 | 0 | 0 |
Class R6 | 135,654 | 1,329,678 | 0 | 0 |
Administrator Class | 323,878 | 3,174,672 | N/A | N/A |
28,240,999 | 0 | |||
Net increase in net assets resulting from capital share transactions | 21,558,172 | 770,360 | ||
Total increase in net assets | 20,530,509 | 311,833 | ||
Net assets | ||||
Beginning of period | 6,541,841 | 6,230,008 | ||
End of period | $27,072,350 | $6,541,841 |
1 | For the period from August 26, 2022 (commencement of class operations) to February 28, 2023 |
Dynamic Target 2020 Fund | ||||
Year ended February 28, 2023 | Year ended February 28, 2022 | |||
Operations | ||||
Net investment income | $ 1,491,053 | $ 141,426 | ||
Net realized gains (losses) on investments | (1,655,080) | 639,866 | ||
Net change in unrealized gains (losses) on investments | (946,949) | (543,356) | ||
Net increase (decrease) in net assets resulting from operations | (1,110,976) | 237,936 | ||
Distributions to shareholders from | ||||
Net investment income and net realized gains | ||||
Class A | (803,131) | (161,350) | ||
Class C | (8,073) | (15,449) | ||
Class R4 | (76,702) | (12,877) | ||
Class R6 | (109,083) | (642,282) | ||
Administrator Class | (197,006) 1 | N/A | ||
Total distributions to shareholders | (1,193,995) | (831,958) | ||
Capital share transactions | Shares | Shares | ||
Proceeds from shares sold | ||||
Class A | 51,676 | 508,380 | 36,489 | 434,090 |
Class C | 156 | 1,502 | 1,337 | 15,501 |
Class R4 | 87,334 | 849,095 | 0 | 0 |
Class R6 | 319,278 | 3,178,743 | 27,915 | 331,642 |
Administrator Class | 94,532 1 | 899,857 1 | N/A | N/A |
5,437,577 | 781,233 | |||
Reinvestment of distributions | ||||
Class A | 82,096 | 787,597 | 14,086 | 161,350 |
Class C | 841 | 8,073 | 1,346 | 15,449 |
Class R4 | 7,929 | 76,702 | 1,114 | 12,877 |
Class R6 | 11,227 | 108,829 | 55,506 | 642,282 |
Administrator Class | 20,313 1 | 196,908 1 | N/A | N/A |
1,178,109 | 831,958 | |||
Payment for shares redeemed | ||||
Class A | (597,484) | (5,743,334) | (29,446) | (346,777) |
Class C | (31,069) | (305,108) | (4,618) | (52,903) |
Class R4 | (117,298) | (1,131,154) | 0 | 0 |
Class R6 | (1,034,220) | (10,139,990) | (5,113) | (61,723) |
Administrator Class | (222,148) 1 | (2,163,382) 1 | N/A | N/A |
(19,482,968) | (461,403) | |||
Net asset value of shares issued in acquisition | ||||
Class A | 10,283,358 | 101,112,885 | 0 | 0 |
Class C | 117,463 | 1,159,562 | 0 | 0 |
Class R4 | 883,722 | 8,766,864 | 0 | 0 |
Class R6 | 904,968 | 8,993,096 | 0 | 0 |
Administrator Class | 2,440,526 | 24,252,752 | N/A | N/A |
144,285,159 | 0 | |||
Net increase in net assets resulting from capital share transactions | 131,417,877 | 1,151,788 | ||
Total increase in net assets | 129,112,906 | 557,766 | ||
Net assets | ||||
Beginning of period | 8,171,763 | 7,613,997 | ||
End of period | $137,284,669 | $8,171,763 |
1 | For the period from August 26, 2022 (commencement of class operations) to February 28, 2023 |
Dynamic Target 2025 Fund | ||||
Year ended February 28, 2023 | Year ended February 28, 2022 | |||
Operations | ||||
Net investment income | $ 1,049,933 | $ 220,097 | ||
Net realized gains (losses) on investments | (943,247) | 1,106,385 | ||
Net change in unrealized gains (losses) on investments | (762,753) | (885,305) | ||
Net increase (decrease) in net assets resulting from operations | (656,067) | 441,177 | ||
Distributions to shareholders from | ||||
Net investment income and net realized gains | ||||
Class A | (582,334) | (545,607) | ||
Class C | 0 | (13,239) | ||
Class R4 | (6,696) | (13,686) | ||
Class R6 | (220,777) | (856,637) | ||
Administrator Class | (52,316) 1 | N/A | ||
Total distributions to shareholders | (862,123) | (1,429,169) | ||
Capital share transactions | Shares | Shares | ||
Proceeds from shares sold | ||||
Class A | 61,165 | 637,792 | 219,454 | 2,804,021 |
Class C | 2,516 | 25,881 | 114 | 1,465 |
Class R4 | 1,750 | 17,845 | 0 | 0 |
Class R6 | 793,364 | 8,328,514 | 109,174 | 1,402,925 |
Administrator Class | 49,998 1 | 504,506 1 | N/A | N/A |
9,514,538 | 4,208,411 | |||
Reinvestment of distributions | ||||
Class A | 57,347 | 579,313 | 45,256 | 545,607 |
Class C | 0 | 0 | 1,095 | 13,239 |
Class R4 | 657 | 6,696 | 1,126 | 13,686 |
Class R6 | 21,600 | 220,574 | 70,363 | 856,637 |
Administrator Class | 5,123 1 | 52,316 1 | N/A | N/A |
858,899 | 1,429,169 | |||
Payment for shares redeemed | ||||
Class A | (506,192) | (5,214,819) | (101,544) | (1,278,870) |
Class C | (11,488) | (119,163) | (860) | (11,020) |
Class R4 | (18,787) | (194,817) | 0 | 0 |
Class R6 | (1,210,037) | (12,488,088) | (115,631) | (1,510,350) |
Administrator Class | (15,861) 1 | (160,476) 1 | N/A | N/A |
(18,177,363) | (2,800,240) | |||
Net asset value of shares issued in acquisition | ||||
Class A | 6,281,718 | 64,927,493 | 0 | 0 |
Class R4 | 70,044 | 730,159 | 0 | 0 |
Class R6 | 1,323,169 | 13,814,817 | 0 | 0 |
Administrator Class | 515,462 | 5,381,787 | N/A | N/A |
84,854,256 | 0 | |||
Net increase in net assets resulting from capital share transactions | 77,050,330 | 2,837,340 | ||
Total increase in net assets | 75,532,140 | 1,849,348 | ||
Net assets | ||||
Beginning of period | 13,814,287 | 11,964,939 | ||
End of period | $ 89,346,427 | $13,814,287 |
1 | For the period from August 26, 2022 (commencement of class operations) to February 28, 2023 |
Dynamic Target 2030 Fund | ||||
Year ended February 28, 2023 | Year ended February 28, 2022 | |||
Operations | ||||
Net investment income | $ 2,255,738 | $ 206,743 | ||
Net realized gains (losses) on investments | (384,313) | 1,116,205 | ||
Net change in unrealized gains (losses) on investments | 1,291,517 | (890,507) | ||
Net increase in net assets resulting from operations | 3,162,942 | 432,441 | ||
Distributions to shareholders from | ||||
Net investment income and net realized gains | ||||
Class A | (2,019,693) | (495,005) | ||
Class C | (11,300) | (14,437) | ||
Class R4 | (301,846) | (14,488) | ||
Class R6 | (648,278) | (925,502) | ||
Administrator Class | (716,196) 1 | N/A | ||
Total distributions to shareholders | (3,697,313) | (1,449,432) | ||
Capital share transactions | Shares | Shares | ||
Proceeds from shares sold | ||||
Class A | 139,964 | 1,442,782 | 179,197 | 2,285,559 |
Class C | 2,042 | 21,085 | 735 | 9,439 |
Class R4 | 112,039 | 1,164,343 | 0 | 0 |
Class R6 | 1,235,315 | 13,036,980 | 115,832 | 1,474,814 |
Administrator Class | 97,077 1 | 1,005,523 1 | N/A | N/A |
16,670,713 | 3,769,812 | |||
Reinvestment of distributions | ||||
Class A | 193,140 | 1,993,872 | 39,899 | 483,110 |
Class C | 1,092 | 11,300 | 1,191 | 14,437 |
Class R4 | 28,914 | 301,846 | 1,183 | 14,488 |
Class R6 | 61,999 | 648,131 | 75,430 | 925,502 |
Administrator Class | 68,446 1 | 716,196 1 | N/A | N/A |
3,671,345 | 1,437,537 | |||
Payment for shares redeemed | ||||
Class A | (742,811) | (7,616,114) | (100,094) | (1,264,409) |
Class C | (27,617) | (285,965) | (2) | (20) |
Class R4 | (109,867) | (1,126,231) | 0 | 0 |
Class R6 | (1,685,930) | (17,451,710) | (34,787) | (454,588) |
Administrator Class | (564,720) 1 | (5,903,729) 1 | N/A | N/A |
(32,383,749) | (1,719,017) | |||
Net asset value of shares issued in acquisition | ||||
Class A | 12,565,972 | 129,993,280 | 0 | 0 |
Class C | 73,129 | 758,940 | 0 | 0 |
Class R4 | 1,770,935 | 18,537,068 | 0 | 0 |
Class R6 | 2,573,850 | 26,986,777 | 0 | 0 |
Administrator Class | 4,507,069 | 47,256,674 | N/A | N/A |
223,532,739 | 0 | |||
Net increase in net assets resulting from capital share transactions | 211,491,048 | 3,488,332 | ||
Total increase in net assets | 210,956,677 | 2,471,341 | ||
Net assets | ||||
Beginning of period | 13,577,457 | 11,106,116 | ||
End of period | $224,534,134 | $13,577,457 |
1 | For the period from August 26, 2022 (commencement of class operations) to February 28, 2023 |
Dynamic Target 2035 Fund | ||||
Year ended February 28, 2023 | Year ended February 28, 2022 | |||
Operations | ||||
Net investment income | $ 1,117,497 | $ 200,811 | ||
Net realized gains (losses) on investments | (115,720) | 1,105,160 | ||
Net change in unrealized gains (losses) on investments | 663,440 | (876,707) | ||
Net increase in net assets resulting from operations | 1,665,217 | 429,264 | ||
Distributions to shareholders from | ||||
Net investment income and net realized gains | ||||
Class A | (1,328,062) | (217,181) | ||
Class C | (237) | (15,642) | ||
Class R4 | (26,432) | (15,272) | ||
Class R6 | (398,495) | (1,207,078) | ||
Administrator Class | (85,301) 1 | N/A | ||
Total distributions to shareholders | (1,838,527) | (1,455,173) | ||
Capital share transactions | Shares | Shares | ||
Proceeds from shares sold | ||||
Class A | 103,033 | 1,064,133 | 47,696 | 613,128 |
Class C | 1,727 | 18,800 | 2,231 | 27,590 |
Class R4 | 27,331 | 283,588 | 0 | 0 |
Class R6 | 1,009,488 | 10,624,234 | 90,826 | 1,198,201 |
Administrator Class | 115,764 1 | 1,167,486 1 | N/A | N/A |
13,158,241 | 1,838,919 | |||
Reinvestment of distributions | ||||
Class A | 128,420 | 1,324,923 | 17,904 | 217,181 |
Class C | 22 | 237 | 1,285 | 15,642 |
Class R4 | 2,537 | 26,432 | 1,246 | 15,272 |
Class R6 | 38,196 | 398,495 | 98,290 | 1,207,078 |
Administrator Class | 8,170 1 | 85,301 1 | N/A | N/A |
1,835,388 | 1,455,173 | |||
Payment for shares redeemed | ||||
Class A | (316,459) | (3,273,441) | (21,780) | (268,781) |
Class C | (11,958) | (122,935) | (2) | (21) |
Class R4 | (31,418) | (323,676) | 0 | 0 |
Class R6 | (992,904) | (10,210,747) | (13,841) | (178,081) |
Administrator Class | (142,483) 1 | (1,487,255) 1 | N/A | N/A |
(15,418,054) | (446,883) | |||
Net asset value of shares issued in acquisition | ||||
Class A | 7,901,606 | 81,377,252 | 0 | 0 |
Class R4 | 146,363 | 1,523,401 | 0 | 0 |
Class R6 | 1,136,407 | 11,849,166 | 0 | 0 |
Administrator Class | 425,139 | 4,432,869 | N/A | N/A |
99,182,688 | 0 | |||
Net increase in net assets resulting from capital share transactions | 98,758,263 | 2,847,209 | ||
Total increase in net assets | 98,584,953 | 1,821,300 | ||
Net assets | ||||
Beginning of period | 12,733,866 | 10,912,566 | ||
End of period | $111,318,819 | $12,733,866 |
1 | For the period from August 26, 2022 (commencement of class operations) to February 28, 2023 |
Dynamic Target 2040 Fund | ||||
Year ended February 28, 2023 | Year ended February 28, 2022 | |||
Operations | ||||
Net investment income | $ 2,118,775 | $ 162,494 | ||
Net realized gains on investments | 1,238,355 | 1,051,602 | ||
Net change in unrealized gains (losses) on investments | 3,371,117 | (807,860) | ||
Net increase in net assets resulting from operations | 6,728,247 | 406,236 | ||
Distributions to shareholders from | ||||
Net investment income and net realized gains | ||||
Class A | (3,265,710) | (425,443) | ||
Class C | (15,536) | (16,287) | ||
Class R4 | (537,051) | (15,931) | ||
Class R6 | (758,275) | (788,089) | ||
Administrator Class | (742,181) 1 | N/A | ||
Total distributions to shareholders | (5,318,753) | (1,245,750) | ||
Capital share transactions | Shares | Shares | ||
Proceeds from shares sold | ||||
Class A | 66,806 | 672,184 | 50,367 | 629,754 |
Class C | 2,142 | 21,544 | 547 | 7,141 |
Class R4 | 193,838 | 1,992,163 | 0 | 0 |
Class R6 | 916,233 | 9,438,709 | 28,995 | 365,456 |
Administrator Class | 84,913 1 | 854,834 1 | N/A | N/A |
12,979,434 | 1,002,351 | |||
Reinvestment of distributions | ||||
Class A | 318,425 | 3,229,869 | 35,541 | 425,443 |
Class C | 1,527 | 15,536 | 1,354 | 16,287 |
Class R4 | 52,295 | 537,051 | 1,313 | 15,931 |
Class R6 | 73,687 | 757,596 | 64,861 | 788,089 |
Administrator Class | 72,128 1 | 742,181 1 | N/A | N/A |
5,282,233 | 1,245,750 | |||
Payment for shares redeemed | ||||
Class A | (757,332) | (7,659,740) | (135,253) | (1,535,377) |
Class C | (20,875) | (209,302) | (3) | (40) |
Class R4 | (72,821) | (746,158) | 0 | 0 |
Class R6 | (1,183,201) | (11,920,231) | (3,093) | (39,753) |
Administrator Class | (395,180) 1 | (4,068,439) 1 | N/A | N/A |
(24,603,870) | (1,575,170) | |||
Net asset value of shares issued in acquisition | ||||
Class A | 15,071,298 | 152,034,700 | 0 | 0 |
Class C | 74,765 | 757,759 | 0 | 0 |
Class R4 | 2,236,744 | 22,861,085 | 0 | 0 |
Class R6 | 2,646,873 | 27,085,233 | 0 | 0 |
Administrator Class | 3,479,040 | 35,600,774 | N/A | N/A |
238,339,551 | 0 | |||
Net increase in net assets resulting from capital share transactions | 231,997,348 | 672,931 | ||
Total increase (decrease) in net assets | 233,406,842 | (166,583) | ||
Net assets | ||||
Beginning of period | 9,419,808 | 9,586,391 | ||
End of period | $242,826,650 | $ 9,419,808 |
1 | For the period from August 26, 2022 (commencement of class operations) to February 28, 2023 |
Dynamic Target 2045 Fund | ||||
Year ended February 28, 2023 | Year ended February 28, 2022 | |||
Operations | ||||
Net investment income | $ 543,798 | $ 141,904 | ||
Net realized gains on investments | 256,760 | 926,923 | ||
Net change in unrealized gains (losses) on investments | 257,748 | (645,956) | ||
Net increase in net assets resulting from operations | 1,058,306 | 422,871 | ||
Distributions to shareholders from | ||||
Net investment income and net realized gains | ||||
Class A | (720,069) | (86,264) | ||
Class C | (447) | (18,714) | ||
Class R4 | (15,842) | (16,649) | ||
Class R6 | (441,597) | (918,136) | ||
Administrator Class | (28,210) 1 | N/A | ||
Total distributions to shareholders | (1,206,165) | (1,039,763) | ||
Capital share transactions | Shares | Shares | ||
Proceeds from shares sold | ||||
Class A | 53,360 | 541,227 | 13,714 | 168,746 |
Class C | 791 | 8,090 | 466 | 6,143 |
Class R4 | 1,090 | 11,202 | 0 | 0 |
Class R6 | 754,464 | 7,812,862 | 29,852 | 383,596 |
Administrator Class | 4,930 1 | 49,935 1 | N/A | N/A |
8,423,316 | 558,485 | |||
Reinvestment of distributions | ||||
Class A | 70,589 | 719,580 | 7,176 | 86,264 |
Class C | 42 | 440 | 1,555 | 18,714 |
Class R4 | 1,538 | 15,842 | 1,370 | 16,649 |
Class R6 | 42,797 | 441,597 | 75,376 | 918,136 |
Administrator Class | 2,732 1 | 28,210 1 | N/A | N/A |
1,205,669 | 1,039,763 | |||
Payment for shares redeemed | ||||
Class A | (133,668) | (1,342,609) | (17,206) | (224,559) |
Class C | (11,606) | (117,221) | (2) | (30) |
Class R4 | (21,118) | (215,375) | 0 | 0 |
Class R6 | (811,521) | (8,205,804) | (21,937) | (290,456) |
Administrator Class | (11,224) 1 | (116,557) 1 | N/A | N/A |
(9,997,566) | (515,045) | |||
Net asset value of shares issued in acquisition | ||||
Class A | 3,201,742 | 32,410,799 | 0 | 0 |
Class R4 | 75,045 | 767,652 | 0 | 0 |
Class R6 | 1,248,234 | 12,796,886 | 0 | 0 |
Administrator Class | 124,675 | 1,278,171 | N/A | N/A |
47,253,508 | 0 | |||
Net increase in net assets resulting from capital share transactions | 46,884,927 | 1,083,203 | ||
Total increase in net assets | 46,737,068 | 466,311 | ||
Net assets | ||||
Beginning of period | 8,433,417 | 7,967,106 | ||
End of period | $55,170,485 | $ 8,433,417 |
1 | For the period from August 26, 2022 (commencement of class operations) to February 28, 2023 |
Dynamic Target 2050 Fund | ||||
Year ended February 28, 2023 | Year ended February 28, 2022 | |||
Operations | ||||
Net investment income | $ 805,766 | $ 126,694 | ||
Net realized gains on investments | 783,265 | 849,294 | ||
Net change in unrealized gains (losses) on investments | 1,201,833 | (584,502) | ||
Net increase in net assets resulting from operations | 2,790,864 | 391,486 | ||
Distributions to shareholders from | ||||
Net investment income and net realized gains | ||||
Class A | (815,180) | (56,447) | ||
Class C | (10,395) | (16,542) | ||
Class R4 | (265,984) | (16,038) | ||
Class R6 | (624,024) | (833,660) | ||
Administrator Class | (441,824) 1 | N/A | ||
Total distributions to shareholders | (2,157,407) | (922,687) | ||
Capital share transactions | Shares | Shares | ||
Proceeds from shares sold | ||||
Class A | 48,944 | 498,212 | 12,622 | 165,607 |
Class C | 0 | 0 | 5 | 58 |
Class R4 | 145,957 | 1,516,052 | 0 | 0 |
Class R6 | 733,826 | 7,638,231 | 25,936 | 338,049 |
Administrator Class | 57,763 1 | 596,789 1 | N/A | N/A |
10,249,284 | 503,714 | |||
Reinvestment of distributions | ||||
Class A | 78,323 | 809,407 | 4,634 | 56,447 |
Class C | 1,008 | 10,395 | 1,361 | 16,542 |
Class R4 | 25,558 | 265,984 | 1,308 | 16,038 |
Class R6 | 59,838 | 624,024 | 67,813 | 833,660 |
Administrator Class | 42,333 1 | 441,824 1 | N/A | N/A |
2,151,634 | 922,687 | |||
Payment for shares redeemed | ||||
Class A | (193,502) | (1,964,897) | (5,180) | (68,313) |
Class C | (28,936) | (294,868) | (2) | (20) |
Class R4 | (155,512) | (1,627,335) | 0 | 0 |
Class R6 | (930,290) | (9,509,133) | (13,470) | (165,848) |
Administrator Class | (140,844) 1 | (1,469,214) 1 | N/A | N/A |
(14,865,447) | (234,181) | |||
Net asset value of shares issued in acquisition | ||||
Class A | 3,418,379 | 35,013,618 | 0 | 0 |
Class C | 47,585 | 486,931 | 0 | 0 |
Class R4 | 1,044,217 | 10,778,604 | 0 | 0 |
Class R6 | 1,896,508 | 19,616,309 | 0 | 0 |
Administrator Class | 1,818,108 | 18,805,393 | N/A | N/A |
84,700,855 | 0 | |||
Net increase in net assets resulting from capital share transactions | 82,236,326 | 1,192,220 | ||
Total increase in net assets | 82,869,783 | 661,019 | ||
Net assets | ||||
Beginning of period | 7,629,578 | 6,968,559 | ||
End of period | $ 90,499,361 | $7,629,578 |
1 | For the period from August 26, 2022 (commencement of class operations) to February 28, 2023 |
Dynamic Target 2055 Fund | ||||
Year ended February 28, 2023 | Year ended February 28, 2022 | |||
Operations | ||||
Net investment income | $ 232,279 | $ 131,051 | ||
Net realized gains (losses) on investments | (157,648) | 877,030 | ||
Net change in unrealized gains (losses) on investments | (219,694) | (615,704) | ||
Net increase (decrease) in net assets resulting from operations | (145,063) | 392,377 | ||
Distributions to shareholders from | ||||
Net investment income and net realized gains | ||||
Class A | (62,142) | (58,601) | ||
Class C | (15) | (18,486) | ||
Class R4 | (7,595) | (16,586) | ||
Class R6 | (123,968) | (882,662) | ||
Administrator Class | (11,549) 1 | N/A | ||
Total distributions to shareholders | (205,269) | (976,335) | ||
Capital share transactions | Shares | Shares | ||
Proceeds from shares sold | ||||
Class A | 16,606 | 173,583 | 9,635 | 126,177 |
Class C | 1,598 | 16,851 | 1,243 | 15,771 |
Class R4 | 11,063 | 116,326 | 0 | 0 |
Class R6 | 343,566 | 3,602,242 | 46,471 | 582,370 |
Administrator Class | 5,527 1 | 57,290 1 | N/A | N/A |
3,966,292 | 724,318 | |||
Reinvestment of distributions | ||||
Class A | 6,098 | 62,056 | 4,818 | 58,601 |
Class C | 1 | 15 | 1,523 | 18,486 |
Class R4 | 741 | 7,595 | 1,353 | 16,586 |
Class R6 | 12,065 | 123,968 | 71,914 | 882,662 |
Administrator Class | 1,125 1 | 11,549 1 | N/A | N/A |
205,183 | 976,335 | |||
Payment for shares redeemed | ||||
Class A | (37,386) | (381,257) | (5,484) | (71,636) |
Class C | (11,598) | (118,188) | (1) | (10) |
Class R4 | (27,863) | (286,272) | 0 | 0 |
Class R6 | (624,096) | (6,416,352) | (7,084) | (94,434) |
Administrator Class | (5,595) 1 | (58,035) 1 | N/A | N/A |
(7,260,104) | (166,080) | |||
Net asset value of shares issued in acquisition | ||||
Class A | 502,902 | 5,150,930 | 0 | 0 |
Class R4 | 62,927 | 649,566 | 0 | 0 |
Class R6 | 579,734 | 5,992,884 | 0 | 0 |
Administrator Class | 93,289 | 964,358 | N/A | N/A |
12,757,738 | 0 | |||
Net increase in net assets resulting from capital share transactions | 9,669,109 | 1,534,573 | ||
Total increase in net assets | 9,318,777 | 950,615 | ||
Net assets | ||||
Beginning of period | 8,179,579 | 7,228,964 | ||
End of period | $17,498,356 | $8,179,579 |
1 | For the period from August 26, 2022 (commencement of class operations) to February 28, 2023 |
Dynamic Target 2060 Fund | ||||
Year ended February 28, 2023 | Year ended February 28, 2022 | |||
Operations | ||||
Net investment income | $ 180,122 | $ 118,654 | ||
Net realized gains (losses) on investments | (164,750) | 803,395 | ||
Net change in unrealized gains (losses) on investments | (223,356) | (555,617) | ||
Net increase (decrease) in net assets resulting from operations | (207,984) | 366,432 | ||
Distributions to shareholders from | ||||
Net investment income and net realized gains | ||||
Class A | (15,234) | (57,008) | ||
Class C | (1,121) | (15,146) | ||
Class R4 | (38,045) | (16,036) | ||
Class R6 | (76,686) | (766,965) | ||
Administrator Class | (27,100) 1 | N/A | ||
Total distributions to shareholders | (158,186) | (855,155) | ||
Capital share transactions | Shares | Shares | ||
Proceeds from shares sold | ||||
Class A | 17,106 | 183,528 | 9,306 | 121,864 |
Class R4 | 59,840 | 631,280 | 0 | 0 |
Class R6 | 211,647 | 2,225,611 | 14,423 | 183,736 |
Administrator Class | 32,899 1 | 342,625 1 | N/A | N/A |
3,383,044 | 305,600 | |||
Reinvestment of distributions | ||||
Class A | 1,493 | 15,234 | 4,684 | 57,008 |
Class C | 110 | 1,121 | 1,244 | 15,146 |
Class R4 | 3,691 | 38,045 | 1,303 | 16,036 |
Class R6 | 7,431 | 76,686 | 62,194 | 766,965 |
Administrator Class | 2,623 1 | 27,100 1 | N/A | N/A |
158,186 | 855,155 | |||
Payment for shares redeemed | ||||
Class A | (21,965) | (228,546) | (3,724) | (49,818) |
Class C | (15,071) | (155,407) | (1) | (10) |
Class R4 | (40,170) | (415,347) | 0 | 0 |
Class R6 | (619,851) | (6,432,004) | (3,624) | (44,270) |
Administrator Class | (46,098) 1 | (479,956) 1 | N/A | N/A |
(7,711,260) | (94,098) | |||
Net asset value of shares issued in acquisition | ||||
Class A | 91,064 | 935,210 | 0 | 0 |
Class C | 13,730 | 141,331 | 0 | 0 |
Class R4 | 242,449 | 2,517,681 | 0 | 0 |
Class R6 | 399,462 | 4,156,528 | 0 | 0 |
Administrator Class | 204,111 | 2,123,841 | N/A | N/A |
9,874,591 | 0 | |||
Net increase in net assets resulting from capital share transactions | 5,704,561 | 1,066,657 | ||
Total increase in net assets | 5,338,391 | 577,934 | ||
Net assets | ||||
Beginning of period | 7,177,478 | 6,599,544 | ||
End of period | $12,515,869 | $7,177,478 |
1 | For the period from August 26, 2022 (commencement of class operations) to February 28, 2023 |
Dynamic Target 2065 Fund | ||
Year ended February 28, 20231 | ||
Operations | ||
Net investment income | $ 39,749 | |
Net realized losses on investments | (222,512) | |
Net change in unrealized gains (losses) on investments | 350,934 | |
Net increase in net assets resulting from operations | 168,171 | |
Distributions to shareholders from | ||
Net investment income and net realized gains | ||
Class A | (425) | |
Class C | (425) | |
Class R4 | (509) | |
Class R6 | (25,479) | |
Administrator Class | (449) | |
Total distributions to shareholders | (27,287) | |
Capital share transactions | Shares | |
Proceeds from shares sold | ||
Class A | 5,000 | 100,000 |
Class C | 5,000 | 100,000 |
Class R4 | 6,202 | 125,346 |
Class R6 | 233,604 | 4,674,830 |
Administrator Class | 5,000 | 100,000 |
5,100,176 | ||
Reinvestment of distributions | ||
Class A | 21 | 425 |
Class C | 21 | 425 |
Class R4 | 26 | 509 |
Class R6 | 1,288 | 25,479 |
Administrator Class | 23 | 449 |
27,287 | ||
Payment for shares redeemed | ||
Class R6 | (55) | (1,157) |
Net increase in net assets resulting from capital share transactions | 5,126,306 | |
Total increase in net assets | 5,267,190 | |
Net assets | ||
Beginning of period | 0 | |
End of period | $5,267,190 |
1 | For the period from September 13, 2022 (commencement of operations) to February 28, 2023 |
Year ended February 28 | Year ended May 31 | ||||||
Class A | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $10.61 | $11.38 | $10.60 | $10.11 | $10.82 | $10.65 | |
Net investment income | 0.22 | 0.16 | 0.13 | 0.21 3 | 0.13 | 0.15 | |
Net realized and unrealized gains (losses) on investments | (1.17) | 0.06 | 1.09 | 0.50 | 0.16 | 0.38 | |
Total from investment operations | (0.95) | 0.22 | 1.22 | 0.71 | 0.29 | 0.53 | |
Distributions to shareholders from | |||||||
Net investment income | (0.09) | (0.17) | (0.18) | (0.22) | (0.15) | (0.19) | |
Net realized gains | (0.00) 4 | (0.82) | (0.26) | 0.00 | (0.85) | (0.17) | |
Total distributions to shareholders | (0.09) | (0.99) | (0.44) | (0.22) | (1.00) | (0.36) | |
Net asset value, end of period | $9.57 | $10.61 | $11.38 | $10.60 | $10.11 | $10.82 | |
Total return5 | (8.93)% | 1.53% | 11.47% | 6.95% | 3.16% | 4.96% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 0.95% ♦,* | 2.32% * | 2.98% * | 3.37% * | 4.39% * | 4.39% ^ | |
Net expenses | 0.60% ♦,* | 0.65% * | 0.67% * | 0.66% * | 0.59% * | 0.48% ^ | |
Net investment income | 2.05% * | 1.46% * | 1.58% * | 1.95% * | 1.75% * | 1.37% | |
Supplemental data | |||||||
Portfolio turnover rate6 | 89% | 101% | 87% | 39% | 48% | 94% | |
Net assets, end of period (000s omitted) | $49,775 | $667 | $662 | $1,022 | $400 | $384 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.09% |
Year ended February 28, 2022 | 0.10% |
Year ended February 28, 2021 | 0.10% |
Year ended February 29, 2020 | 0.12% |
Year ended February 28, 20192 | 0.12% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.10%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Amount is less than $0.005. |
5 | Total return calculations do not include any sales charges. Returns for periods of less than one year are not annualized. |
6 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class C | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $10.62 | $11.45 | $10.56 | $10.08 | $10.76 | $10.58 | |
Net investment income | 0.19 | 0.08 | 0.08 | 0.14 | 0.08 | 0.07 | |
Payment from affiliate | 0.00 | 0.00 | 0.16 | 0.00 | 0.00 | 0.00 | |
Net realized and unrealized gains (losses) on investments | (1.18) | 0.05 | 1.05 | 0.48 | 0.15 | 0.38 | |
Total from investment operations | (0.99) | 0.13 | 1.29 | 0.62 | 0.23 | 0.45 | |
Distributions to shareholders from | |||||||
Net investment income | (0.06) | (0.14) | (0.14) | (0.14) | (0.06) | (0.10) | |
Net realized gains | (0.00) 3 | (0.82) | (0.26) | 0.00 | (0.85) | (0.17) | |
Total distributions to shareholders | (0.06) | (0.96) | (0.40) | (0.14) | (0.91) | (0.27) | |
Net asset value, end of period | $9.57 | $10.62 | $11.45 | $10.56 | $10.08 | $10.76 | |
Total return4 | (9.28)% | 0.78% | 12.31% 5 | 6.11% | 2.60% | 4.25% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 2.39% ♦,* | 2.52% * | 3.30% * | 4.02% * | 5.14% * | 5.14% ^ | |
Net expenses | 0.99% ♦,* | 1.42% * | 1.43% * | 1.41% * | 1.34% * | 1.24% ^ | |
Net investment income | 1.80% * | 0.69% * | 0.74% * | 1.33% * | 0.99% * | 0.65% | |
Supplemental data | |||||||
Portfolio turnover rate6 | 89% | 101% | 87% | 39% | 48% | 94% | |
Net assets, end of period (000s omitted) | $140 | $129 | $120 | $107 | $102 | $109 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.09% |
Year ended February 28, 2022 | 0.13% |
Year ended February 28, 2021 | 0.11% |
Year ended February 29, 2020 | 0.11% |
Year ended February 28, 20192 | 0.11% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.10%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Amount is less than $0.005. |
4 | Total return calculations do not include any sales charges. Returns for periods of less than one year are not annualized. |
5 | During the year ended February 28, 2021, the Fund received a payment from an affiliate which had an impact of 1.55% on the total return. |
6 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class R4 | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $10.63 | $11.39 | $10.62 | $10.10 | $10.81 | $10.63 | |
Net investment income | 0.23 3 | 0.20 | 0.20 | 0.25 | 0.16 | 0.18 | |
Net realized and unrealized gains (losses) on investments | (1.15) | 0.05 | 1.05 | 0.49 | 0.16 | 0.38 | |
Total from investment operations | (0.92) | 0.25 | 1.25 | 0.74 | 0.32 | 0.56 | |
Distributions to shareholders from | |||||||
Net investment income | (0.10) | (0.19) | (0.22) | (0.22) | (0.18) | (0.21) | |
Net realized gains | (0.00) 4 | (0.82) | (0.26) | 0.00 | (0.85) | (0.17) | |
Total distributions to shareholders | (0.10) | (1.01) | (0.48) | (0.22) | (1.03) | (0.38) | |
Net asset value, end of period | $9.61 | $10.63 | $11.39 | $10.62 | $10.10 | $10.81 | |
Total return5 | (8.64)% | 1.86% | 11.81% | 7.33% | 3.42% | 5.27% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 0.77% ♦,* | 2.02% * | 2.65% * | 3.17% * | 4.11% * | 4.11% ^ | |
Net expenses | 0.29% ♦,* | 0.36% * | 0.37% * | 0.36% * | 0.31% * | 0.22% ^ | |
Net investment income | 2.37% * | 1.75% * | 1.82% * | 2.38% * | 2.02% * | 1.67% | |
Supplemental data | |||||||
Portfolio turnover rate6 | 89% | 101% | 87% | 39% | 48% | 94% | |
Net assets, end of period (000s omitted) | $1,640 | $119 | $117 | $109 | $104 | $111 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.09% |
Year ended February 28, 2022 | 0.08% |
Year ended February 28, 2021 | 0.08% |
Year ended February 29, 2020 | 0.11% |
Year ended February 28, 20192 | 0.11% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.10%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Amount is less than $0.005. |
5 | Returns for periods of less than one year are not annualized. |
6 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class R6 | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $10.64 | $11.39 | $10.62 | $10.10 | $10.82 | $10.64 | |
Net investment income | 0.36 | 0.21 | 0.21 | 0.27 3 | 0.17 | 0.20 | |
Net realized and unrealized gains (losses) on investments | (1.27) | 0.07 | 1.05 | 0.49 | 0.15 | 0.38 | |
Total from investment operations | (0.91) | 0.28 | 1.26 | 0.76 | 0.32 | 0.58 | |
Distributions to shareholders from | |||||||
Net investment income | (0.10) | (0.21) | (0.23) | (0.24) | (0.19) | (0.23) | |
Net realized gains | (0.00) 4 | (0.82) | (0.26) | 0.00 | (0.85) | (0.17) | |
Total distributions to shareholders | (0.10) | (1.03) | (0.49) | (0.24) | (1.04) | (0.40) | |
Net asset value, end of period | $9.63 | $10.64 | $11.39 | $10.62 | $10.10 | $10.82 | |
Total return5 | (8.50)% | 2.09% | 11.96% | 7.48% | 3.49% | 5.42% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 1.44% ♦,* | 1.88% * | 2.52% * | 3.02% * | 3.97% * | 3.96% ^ | |
Net expenses | 0.14% ♦,* | 0.21% * | 0.22% * | 0.21% * | 0.16% * | 0.07% ^ | |
Net investment income | 2.71% * | 1.91% * | 1.96% * | 2.51% * | 2.17% * | 1.82% | |
Supplemental data | |||||||
Portfolio turnover rate6 | 89% | 101% | 87% | 39% | 48% | 94% | |
Net assets, end of period (000s omitted) | $3,677 | $6,207 | $6,093 | $5,545 | $4,785 | $5,123 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.10% |
Year ended February 28, 2022 | 0.10% |
Year ended February 28, 2021 | 0.10% |
Year ended February 29, 2020 | 0.12% |
Year ended February 28, 20192 | 0.12% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.10%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Amount is less than $0.005. |
5 | Returns for periods of less than one year are not annualized. |
6 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | |
Administrator Class | 2023 1 |
Net asset value, beginning of period | $9.81 |
Net investment income | 0.10 2 |
Net realized and unrealized gains (losses) on investments | (0.20) |
Total from investment operations | (0.10) |
Distributions to shareholders from | |
Net investment income | (0.09) |
Net realized gains | (0.00) 3 |
Total distributions to shareholders | (0.09) |
Net asset value, end of period | $9.62 |
Total return4 | (0.96)% |
Ratios to average net assets (annualized) | |
Gross expenses | 0.85% ♦,5 |
Net expenses | 0.49% ♦,5 |
Net investment income | 2.15% 5 |
Supplemental data | |
Portfolio turnover rate6 | 89% |
Net assets, end of period (000s omitted) | $8,539 |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
1 | For the period from August 26, 2022 (commencement of class operations) to February 28, 2023 |
2 | Calculated based upon average shares outstanding |
3 | Amount is less than $0.005. |
4 | Returns for periods of less than one year are not annualized. |
5 | Ratios include net expenses allocated from the affiliated Master Portfolios in the amount of 0.10%. |
6 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class A | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $10.65 | $11.41 | $10.40 | $9.99 | $11.06 | $10.76 | |
Net investment income | 0.19 3 | 0.17 | 0.17 | 0.22 | 0.12 | 0.15 3 | |
Net realized and unrealized gains (losses) on investments | (1.12) | 0.16 | 1.17 | 0.41 | 0.15 | 0.56 | |
Total from investment operations | (0.93) | 0.33 | 1.34 | 0.63 | 0.27 | 0.71 | |
Distributions to shareholders from | |||||||
Net investment income | (0.10) | (0.16) | (0.18) | (0.22) | (0.13) | (0.19) | |
Net realized gains | (0.00) 4 | (0.93) | (0.15) | 0.00 | (1.21) | (0.22) | |
Total distributions to shareholders | (0.10) | (1.09) | (0.33) | (0.22) | (1.34) | (0.41) | |
Net asset value, end of period | $9.62 | $10.65 | $11.41 | $10.40 | $9.99 | $11.06 | |
Total return5 | (8.64)% | 2.44% | 12.95% | 6.22% | 3.09% | 6.62% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 1.28% ♦,* | 2.45% * | 3.39% * | 3.63% * | 4.23% * | 4.14% ^ | |
Net expenses | 0.60% ♦,* | 0.65% * | 0.66% * | 0.65% * | 0.61% * | 0.51% ^ | |
Net investment income | 1.99% * | 1.44% * | 1.49% * | 2.00% * | 1.50% * | 1.33% | |
Supplemental data | |||||||
Portfolio turnover rate6 | 87% | 97% | 87% | 38% | 45% | 82% | |
Net assets, end of period (000s omitted) | $22,309 | $733 | $578 | $460 | $390 | $456 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.09% |
Year ended February 28, 2022 | 0.10% |
Year ended February 28, 2021 | 0.10% |
Year ended February 29, 2020 | 0.13% |
Year ended February 28, 20192 | 0.12% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.10%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Amount is less than $0.005. |
5 | Total return calculations do not include any sales charges. Returns for periods of less than one year are not annualized. |
6 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class C | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $10.65 | $11.48 | $10.35 | $9.96 | $11.01 | $10.71 | |
Net investment income | 0.18 | 0.08 | 0.08 | 0.13 | 0.06 | 0.06 | |
Payment from affiliate | 0.00 | 0.00 | 0.17 | 0.00 | 0.00 | 0.00 | |
Net realized and unrealized gains (losses) on investments | (1.13) | 0.15 | 1.17 | 0.42 | 0.15 | 0.56 | |
Total from investment operations | (0.95) | 0.23 | 1.42 | 0.55 | 0.21 | 0.62 | |
Distributions to shareholders from | |||||||
Net investment income | (0.08) | (0.13) | (0.14) | (0.16) | (0.05) | (0.10) | |
Net realized gains | (0.00) 3 | (0.93) | (0.15) | 0.00 | (1.21) | (0.22) | |
Total distributions to shareholders | (0.08) | (1.06) | (0.29) | (0.16) | (1.26) | (0.32) | |
Net asset value, end of period | $9.62 | $10.65 | $11.48 | $10.35 | $9.96 | $11.01 | |
Total return4 | (8.92)% | 1.60% | 13.78% 5 | 5.49% | 2.46% | 5.80% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 2.70% ♦,* | 2.63% * | 3.74% * | 4.19% * | 4.97% * | 4.89% ^ | |
Net expenses | 0.92% ♦,* | 1.42% * | 1.43% * | 1.42% * | 1.36% * | 1.27% ^ | |
Net investment income | 1.84% * | 0.67% * | 0.73% * | 1.26% * | 0.76% * | 0.52% | |
Supplemental data | |||||||
Portfolio turnover rate6 | 87% | 97% | 87% | 38% | 45% | 82% | |
Net assets, end of period (000s omitted) | $108 | $119 | $117 | $105 | $101 | $112 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.09% |
Year ended February 28, 2022 | 0.10% |
Year ended February 28, 2021 | 0.10% |
Year ended February 29, 2020 | 0.12% |
Year ended February 28, 20192 | 0.11% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.09%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Amount is less than $0.005. |
4 | Total return calculations do not include any sales charges. Returns for periods of less than one year are not annualized. |
5 | During the year ended February 28, 2021, the Fund received a payment from an affiliate which had an impact of 1.66% on the total return. |
6 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class R4 | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $10.65 | $11.41 | $10.40 | $9.99 | $11.07 | $10.75 | |
Net investment income | 0.26 3 | 0.19 | 0.19 | 0.24 | 0.15 | 0.17 | |
Net realized and unrealized gains (losses) on investments | (1.18) | 0.17 | 1.18 | 0.42 | 0.14 | 0.58 | |
Total from investment operations | (0.92) | 0.36 | 1.37 | 0.66 | 0.29 | 0.75 | |
Distributions to shareholders from | |||||||
Net investment income | (0.02) | (0.19) | (0.21) | (0.25) | (0.16) | (0.21) | |
Net realized gains | (0.00) 4 | (0.93) | (0.15) | 0.00 | (1.21) | (0.22) | |
Total distributions to shareholders | (0.02) | (1.12) | (0.36) | (0.25) | (1.37) | (0.43) | |
Net asset value, end of period | $9.71 | $10.65 | $11.41 | $10.40 | $9.99 | $11.07 | |
Total return5 | (8.55)% | 2.69% | 13.27% | 6.51% | 3.30% | 7.01% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 2.18% ♦,* | 2.15% * | 3.10% * | 3.34% * | 3.94% * | 3.86% ^ | |
Net expenses | 0.29% ♦,* | 0.36% * | 0.37% * | 0.36% * | 0.31% * | 0.23% ^ | |
Net investment income | 2.61% * | 1.73% * | 1.79% * | 2.31% * | 1.77% * | 1.56% | |
Supplemental data | |||||||
Portfolio turnover rate6 | 87% | 97% | 87% | 38% | 45% | 82% | |
Net assets, end of period (000s omitted) | $14 | $121 | $118 | $107 | $103 | $114 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.08% |
Year ended February 28, 2022 | 0.08% |
Year ended February 28, 2021 | 0.09% |
Year ended February 29, 2020 | 0.12% |
Year ended February 28, 20192 | 0.11% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.09%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Amount is less than $0.005. |
5 | Returns for periods of less than one year are not annualized. |
6 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class R6 | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $10.66 | $11.42 | $10.41 | $9.99 | $11.07 | $10.76 | |
Net investment income | 0.27 3 | 0.21 | 0.21 | 0.26 | 0.16 | 0.19 | |
Net realized and unrealized gains (losses) on investments | (1.14) | 0.17 | 1.18 | 0.42 | 0.15 | 0.57 | |
Total from investment operations | (0.87) | 0.38 | 1.39 | 0.68 | 0.31 | 0.76 | |
Distributions to shareholders from | |||||||
Net investment income | (0.12) | (0.21) | (0.23) | (0.26) | (0.18) | (0.23) | |
Net realized gains | (0.00) 4 | (0.93) | (0.15) | 0.00 | (1.21) | (0.22) | |
Total distributions to shareholders | (0.12) | (1.14) | (0.38) | (0.26) | (1.39) | (0.45) | |
Net asset value, end of period | $9.67 | $10.66 | $11.42 | $10.41 | $9.99 | $11.07 | |
Total return5 | (8.16)% | 2.83% | 13.41% | 6.77% | 3.47% | 7.06% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 1.83% ♦,* | 2.02% * | 2.96% * | 3.20% * | 3.80% * | 3.71% ^ | |
Net expenses | 0.14% ♦,* | 0.21% * | 0.22% * | 0.21% * | 0.16% * | 0.07% ^ | |
Net investment income | 2.70% * | 1.89% * | 1.94% * | 2.46% * | 1.91% * | 1.72% | |
Supplemental data | |||||||
Portfolio turnover rate6 | 87% | 97% | 87% | 38% | 45% | 82% | |
Net assets, end of period (000s omitted) | $1,940 | $5,570 | $5,417 | $4,937 | $4,740 | $5,253 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.10% |
Year ended February 28, 2022 | 0.10% |
Year ended February 28, 2021 | 0.11% |
Year ended February 29, 2020 | 0.13% |
Year ended February 28, 20192 | 0.12% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.10%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Amount is less than $0.005. |
5 | Returns for periods of less than one year are not annualized. |
6 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | |
Administrator Class | 2023 1 |
Net asset value, beginning of period | $9.80 |
Net investment income | 0.10 2 |
Net realized and unrealized gains (losses) on investments | (0.13) |
Total from investment operations | (0.03) |
Distributions to shareholders from | |
Net investment income | (0.11) |
Net realized gains | (0.00) 3 |
Total distributions to shareholders | (0.11) |
Net asset value, end of period | $9.66 |
Total return4 | (0.27)% |
Ratios to average net assets (annualized) | |
Gross expenses | 1.14% ♦,5 |
Net expenses | 0.49% ♦,5 |
Net investment income | 2.08% 5 |
Supplemental data | |
Portfolio turnover rate6 | 87% |
Net assets, end of period (000s omitted) | $2,700 |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
1 | For the period from August 26, 2022 (commencement of class operations) to February 28, 2023 |
2 | Calculated based upon average shares outstanding |
3 | Amount is less than $0.005. |
4 | Returns for periods of less than one year are not annualized. |
5 | Ratios include net expenses allocated from the affiliated Master Portfolios in the amount of 0.10%. |
6 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class A | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $10.78 | $11.57 | $10.28 | $9.95 | $11.18 | $10.78 | |
Net investment income | 0.16 | 0.17 | 0.14 | 0.19 3 | 0.11 | 0.14 | |
Net realized and unrealized gains (losses) on investments | (1.12) | 0.24 | 1.40 | 0.35 | 0.18 | 0.70 | |
Total from investment operations | (0.96) | 0.41 | 1.54 | 0.54 | 0.29 | 0.84 | |
Distributions to shareholders from | |||||||
Net investment income | (0.08) | (0.16) | (0.18) | (0.21) | (0.12) | (0.19) | |
Net realized gains | (0.00) 4 | (1.04) | (0.07) | 0.00 | (1.40) | (0.25) | |
Total distributions to shareholders | (0.08) | (1.20) | (0.25) | (0.21) | (1.52) | (0.44) | |
Net asset value, end of period | $9.74 | $10.78 | $11.57 | $10.28 | $9.95 | $11.18 | |
Total return5 | (8.89)% | 3.02% | 15.03% | 5.31% | 3.33% | 7.80% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 0.81% ♦,* | 2.13% * | 2.89% * | 3.27% * | 4.04% * | 3.96% ^ | |
Net expenses | 0.60% ♦,* | 0.65% * | 0.67% * | 0.67% * | 0.61% * | 0.52% ^ | |
Net investment income | 1.91% * | 1.40% * | 1.45% * | 1.81% * | 1.38% * | 1.15% | |
Supplemental data | |||||||
Portfolio turnover rate6 | 85% | 92% | 87% | 38% | 42% | 72% | |
Net assets, end of period (000s omitted) | $97,039 | $1,577 | $1,448 | $1,435 | $623 | $540 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.10% |
Year ended February 28, 2022 | 0.10% |
Year ended February 28, 2021 | 0.11% |
Year ended February 29, 2020 | 0.14% |
Year ended February 28, 20192 | 0.12% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.10%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Amount is less than $0.005. |
5 | Total return calculations do not include any sales charges. Returns for periods of less than one year are not annualized. |
6 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class C | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $10.82 | $11.66 | $10.28 | $9.95 | $11.15 | $10.76 | |
Net investment income | 0.12 3 | 0.08 3 | 0.07 | 0.13 | 0.06 | 0.05 | |
Payment from affiliate | 0.00 | 0.00 | 0.13 | 0.00 | 0.00 | 0.00 | |
Net realized and unrealized gains (losses) on investments | (1.12) | 0.24 | 1.39 | 0.33 | 0.17 | 0.69 | |
Total from investment operations | (1.00) | 0.32 | 1.59 | 0.46 | 0.23 | 0.74 | |
Distributions to shareholders from | |||||||
Net investment income | (0.08) | (0.12) | (0.14) | (0.13) | (0.03) | (0.10) | |
Net realized gains | (0.00) 4 | (1.04) | (0.07) | 0.00 | (1.40) | (0.25) | |
Total distributions to shareholders | (0.08) | (1.16) | (0.21) | (0.13) | (1.43) | (0.35) | |
Net asset value, end of period | $9.74 | $10.82 | $11.66 | $10.28 | $9.95 | $11.15 | |
Total return5 | (9.26)% | 2.23% | 15.52% 6 | 4.61% | 2.72% | 6.89% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 1.67% ♦,* | 2.46% * | 3.30% * | 3.88% * | 4.79% * | 4.71% ^ | |
Net expenses | 1.26% ♦,* | 1.43% * | 1.43% * | 1.42% * | 1.37% * | 1.28% ^ | |
Net investment income | 1.26% * | 0.66% * | 0.62% * | 1.21% * | 0.66% * | 0.43% | |
Supplemental data | |||||||
Portfolio turnover rate7 | 85% | 92% | 87% | 38% | 42% | 72% | |
Net assets, end of period (000s omitted) | $961 | $122 | $154 | $105 | $102 | $114 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.10% |
Year ended February 28, 2022 | 0.13% |
Year ended February 28, 2021 | 0.10% |
Year ended February 29, 2020 | 0.12% |
Year ended February 28, 20192 | 0.11% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.09%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Amount is less than $0.005. |
5 | Total return calculations do not include any sales charges. Returns for periods of less than one year are not annualized. |
6 | During the year ended February 28, 2021, the Fund received a payment from an affiliate which had an impact of 1.33% on the total return. |
7 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class R4 | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $10.86 | $11.64 | $10.34 | $9.99 | $11.22 | $10.82 | |
Net investment income | 0.21 3 | 0.19 | 0.19 | 0.24 | 0.14 | 0.17 | |
Net realized and unrealized gains (losses) on investments | (1.15) | 0.26 | 1.38 | 0.33 | 0.17 | 0.69 | |
Total from investment operations | (0.94) | 0.45 | 1.57 | 0.57 | 0.31 | 0.86 | |
Distributions to shareholders from | |||||||
Net investment income | (0.09) | (0.19) | (0.20) | (0.22) | (0.14) | (0.21) | |
Net realized gains | (0.00) 4 | (1.04) | (0.07) | 0.00 | (1.40) | (0.25) | |
Total distributions to shareholders | (0.09) | (1.23) | (0.27) | (0.22) | (1.54) | (0.46) | |
Net asset value, end of period | $9.83 | $10.86 | $11.64 | $10.34 | $9.99 | $11.22 | |
Total return5 | (8.65)% | 3.34% | 15.32% | 5.62% | 3.59% | 8.03% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 0.53% ♦,* | 1.83% * | 2.60% * | 3.03% * | 3.77% * | 3.68% ^ | |
Net expenses | 0.29% ♦,* | 0.36% * | 0.37% * | 0.36% * | 0.32% * | 0.24% ^ | |
Net investment income | 2.20% * | 1.70% * | 1.72% * | 2.26% * | 1.71% * | 1.47% | |
Supplemental data | |||||||
Portfolio turnover rate6 | 85% | 92% | 87% | 38% | 42% | 72% | |
Net assets, end of period (000s omitted) | $8,583 | $125 | $121 | $107 | $103 | $116 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.10% |
Year ended February 28, 2022 | 0.09% |
Year ended February 28, 2021 | 0.09% |
Year ended February 29, 2020 | 0.12% |
Year ended February 28, 20192 | 0.11% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.09%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Amount is less than $0.005. |
5 | Returns for periods of less than one year are not annualized. |
6 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class R6 | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $10.87 | $11.65 | $10.34 | $9.99 | $11.23 | $10.82 | |
Net investment income | 0.25 3 | 0.20 | 0.20 | 0.25 | 0.15 | 0.18 | |
Net realized and unrealized gains (losses) on investments | (1.18) | 0.26 | 1.40 | 0.34 | 0.17 | 0.71 | |
Total from investment operations | (0.93) | 0.46 | 1.60 | 0.59 | 0.32 | 0.89 | |
Distributions to shareholders from | |||||||
Net investment income | (0.09) | (0.20) | (0.22) | (0.24) | (0.16) | (0.23) | |
Net realized gains | (0.00) 4 | (1.04) | (0.07) | 0.00 | (1.40) | (0.25) | |
Total distributions to shareholders | (0.09) | (1.24) | (0.29) | (0.24) | (1.56) | (0.48) | |
Net asset value, end of period | $9.85 | $10.87 | $11.65 | $10.34 | $9.99 | $11.23 | |
Total return5 | (8.51)% | 3.48% | 15.58% | 5.77% | 3.65% | 8.03% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 0.89% ♦,* | 1.70% * | 2.46% * | 2.90% * | 3.63% * | 3.53% ^ | |
Net expenses | 0.14% ♦,* | 0.21% * | 0.22% * | 0.21% * | 0.17% * | 0.08% ^ | |
Net investment income | 2.53% * | 1.84% * | 1.87% * | 2.40% * | 1.86% * | 1.63% | |
Supplemental data | |||||||
Portfolio turnover rate6 | 85% | 92% | 87% | 38% | 42% | 72% | |
Net assets, end of period (000s omitted) | $7,732 | $6,348 | $5,891 | $5,118 | $4,767 | $5,359 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.10% |
Year ended February 28, 2022 | 0.10% |
Year ended February 28, 2021 | 0.11% |
Year ended February 29, 2020 | 0.14% |
Year ended February 28, 20192 | 0.13% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.10%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Amount is less than $0.005. |
5 | Returns for periods of less than one year are not annualized. |
6 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | |
Administrator Class | 2023 1 |
Net asset value, beginning of period | $9.94 |
Net investment income | 0.10 2 |
Net realized and unrealized gains (losses) on investments | (0.12) |
Total from investment operations | (0.02) |
Distributions to shareholders from | |
Net investment income | (0.08) |
Net realized gains | (0.00) 3 |
Total distributions to shareholders | (0.08) |
Net asset value, end of period | $9.84 |
Total return4 | (0.16)% |
Ratios to average net assets (annualized) | |
Gross expenses | 0.71% ♦,5 |
Net expenses | 0.49% ♦,5 |
Net investment income | 1.99% 5 |
Supplemental data | |
Portfolio turnover rate6 | 85% |
Net assets, end of period (000s omitted) | $22,969 |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
1 | For the period from August 26, 2022 (commencement of class operations) to February 28, 2023 |
2 | Calculated based upon average shares outstanding |
3 | Amount is less than $0.005. |
4 | Returns for periods of less than one year are not annualized. |
5 | Ratios include net expenses allocated from the affiliated Master Portfolios in the amount of 0.10%. |
6 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class A | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $11.32 | $12.08 | $10.36 | $10.10 | $11.38 | $10.87 | |
Net investment income | 0.11 | 0.17 3 | 0.18 | 0.19 | 0.10 | 0.11 3 | |
Net realized and unrealized gains (losses) on investments | (1.02) | 0.35 | 1.77 | 0.25 | 0.12 | 0.87 | |
Total from investment operations | (0.91) | 0.52 | 1.95 | 0.44 | 0.22 | 0.98 | |
Distributions to shareholders from | |||||||
Net investment income | (0.09) | (0.16) | (0.18) | (0.18) | (0.10) | (0.19) | |
Net realized gains | (0.00) 4 | (1.12) | (0.05) | 0.00 | (1.40) | (0.28) | |
Total distributions to shareholders | (0.09) | (1.28) | (0.23) | (0.18) | (1.50) | (0.47) | |
Net asset value, end of period | $10.32 | $11.32 | $12.08 | $10.36 | $10.10 | $11.38 | |
Total return5 | (8.02)% | 3.77% | 18.83% | 4.29% | 2.76% | 9.07% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 0.89% ♦,* | 1.50% * | 2.21% * | 2.72% * | 3.81% * | 4.06% ^ | |
Net expenses | 0.60% ♦,* | 0.64% * | 0.66% * | 0.66% * | 0.60% * | 0.52% ^ | |
Net investment income | 1.81% * | 1.31% * | 1.44% * | 1.88% * | 1.31% * | 1.00% | |
Supplemental data | |||||||
Portfolio turnover rate6 | 81% | 89% | 85% | 37% | 41% | 62% | |
Net assets, end of period (000s omitted) | $65,686 | $5,354 | $3,744 | $2,856 | $1,929 | $1,497 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.10% |
Year ended February 28, 2022 | 0.11% |
Year ended February 28, 2021 | 0.12% |
Year ended February 29, 2020 | 0.14% |
Year ended February 28, 20192 | 0.13% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.10%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Amount is less than $0.005. |
5 | Total return calculations do not include any sales charges. Returns for periods of less than one year are not annualized. |
6 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class C | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $11.37 | $12.19 | $10.35 | $10.10 | $11.35 | $10.84 | |
Net investment income | 0.26 3 | 0.07 | 0.08 | 0.12 | 0.05 | 0.04 | |
Payment from affiliate | 0.00 | 0.00 | 0.16 | 0.00 | 0.00 | 0.00 | |
Net realized and unrealized gains (losses) on investments | (0.97) | 0.35 | 1.78 | 0.24 | 0.12 | 0.85 | |
Total from investment operations | (0.71) | 0.42 | 2.02 | 0.36 | 0.17 | 0.89 | |
Distributions to shareholders from | |||||||
Net investment income | 0.00 | (0.12) | (0.13) | (0.11) | (0.02) | (0.10) | |
Net realized gains | (0.00) 4 | (1.12) | (0.05) | 0.00 | (1.40) | (0.28) | |
Total distributions to shareholders | 0.00 | (1.24) | (0.18) | (0.11) | (1.42) | (0.38) | |
Net asset value, end of period | $10.66 | $11.37 | $12.19 | $10.35 | $10.10 | $11.35 | |
Total return5 | (6.24)% 6 | 2.92% | 19.55% 7 | 3.55% | 2.17% | 8.24% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 2.23% ♦,* | 1.74% * | 2.60% * | 3.34% * | 4.56% * | 4.88% ^ | |
Net expenses | 0.20% ♦,* | 1.43% * | 1.43% * | 1.42% * | 1.36% * | 1.28% ^ | |
Net investment income | 2.48% * | 0.57% * | 0.70% * | 1.17% * | 0.56% * | 0.36% | |
Supplemental data | |||||||
Portfolio turnover rate8 | 81% | 89% | 85% | 37% | 41% | 62% | |
Net assets, end of period (000s omitted) | $28 | $132 | $137 | $125 | $130 | $130 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.13% |
Year ended February 28, 2022 | 0.12% |
Year ended February 28, 2021 | 0.10% |
Year ended February 29, 2020 | 0.13% |
Year ended February 28, 20192 | 0.12% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.09%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Amount is less than $0.005. |
5 | Total return calculations do not include any sales charges. Returns for periods of less than one year are not annualized. |
6 | During the year ended February 28, 2023, the Fund received payments from a service provider which had a 0.61% impact on the total return. |
7 | During the year ended February 28, 2021, the Fund received a payment froman affiliate which had a 1.56% impact on the total return. |
8 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class R4 | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $11.40 | $12.15 | $10.42 | $10.14 | $11.42 | $10.90 | |
Net investment income | 0.22 3 | 0.19 | 0.19 | 0.24 | 0.14 | 0.16 | |
Net realized and unrealized gains (losses) on investments | (1.11) | 0.37 | 1.81 | 0.25 | 0.11 | 0.85 | |
Total from investment operations | (0.89) | 0.56 | 2.00 | 0.49 | 0.25 | 1.01 | |
Distributions to shareholders from | |||||||
Net investment income | (0.10) | (0.19) | (0.22) | (0.21) | (0.13) | (0.21) | |
Net realized gains | (0.00) 4 | (1.12) | (0.05) | 0.00 | (1.40) | (0.28) | |
Total distributions to shareholders | (0.10) | (1.31) | (0.27) | (0.21) | (1.53) | (0.49) | |
Net asset value, end of period | $10.41 | $11.40 | $12.15 | $10.42 | $10.14 | $11.42 | |
Total return5 | (7.78)% | 4.03% | 19.18% | 4.68% | 2.96% | 9.33% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 0.67% ♦,* | 1.21% * | 1.91% * | 2.45% * | 3.53% * | 3.85% ^ | |
Net expenses | 0.29% ♦,* | 0.36% * | 0.37% * | 0.36% * | 0.31% * | 0.24% ^ | |
Net investment income | 2.15% * | 1.62% * | 1.75% * | 2.22% * | 1.62% * | 1.41% | |
Supplemental data | |||||||
Portfolio turnover rate6 | 81% | 89% | 85% | 37% | 41% | 62% | |
Net assets, end of period (000s omitted) | $678 | $131 | $126 | $108 | $105 | $118 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.11% |
Year ended February 28, 2022 | 0.10% |
Year ended February 28, 2021 | 0.10% |
Year ended February 29, 2020 | 0.12% |
Year ended February 28, 20192 | 0.12% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.09%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Amount is less than $0.005. |
5 | Returns for periods of less than one year are not annualized. |
6 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class R6 | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $11.41 | $12.16 | $10.43 | $10.15 | $11.43 | $10.91 | |
Net investment income | 0.25 3 | 0.22 | 0.20 | 0.25 3 | 0.15 | 0.18 | |
Net realized and unrealized gains (losses) on investments | (1.12) | 0.36 | 1.81 | 0.25 | 0.11 | 0.85 | |
Total from investment operations | (0.87) | 0.58 | 2.01 | 0.50 | 0.26 | 1.03 | |
Distributions to shareholders from | |||||||
Net investment income | (0.11) | (0.21) | (0.23) | (0.22) | (0.14) | (0.23) | |
Net realized gains | (0.00) 4 | (1.12) | (0.05) | 0.00 | (1.40) | (0.28) | |
Total distributions to shareholders | (0.11) | (1.33) | (0.28) | (0.22) | (1.54) | (0.51) | |
Net asset value, end of period | $10.43 | $11.41 | $12.16 | $10.43 | $10.15 | $11.43 | |
Total return5 | (7.63)% | 4.17% | 19.33% | 4.83% | 3.13% | 9.48% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 0.63% ♦,* | 1.08% * | 1.77% * | 2.29% * | 3.39% * | 3.70% ^ | |
Net expenses | 0.14% ♦,* | 0.21% * | 0.22% * | 0.22% * | 0.16% * | 0.09% ^ | |
Net investment income | 2.37% * | 1.78% * | 1.89% * | 2.31% * | 1.77% * | 1.56% | |
Supplemental data | |||||||
Portfolio turnover rate6 | 81% | 89% | 85% | 37% | 41% | 62% | |
Net assets, end of period (000s omitted) | $17,173 | $8,197 | $7,958 | $6,635 | $4,838 | $5,451 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.11% |
Year ended February 28, 2022 | 0.11% |
Year ended February 28, 2021 | 0.12% |
Year ended February 29, 2020 | 0.15% |
Year ended February 28, 20192 | 0.13% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.10%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Amount is less than $0.005. |
5 | Returns for periods of less than one year are not annualized. |
6 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | |
Administrator Class | 2023 1 |
Net asset value, beginning of period | $10.44 |
Net investment income | 0.10 2 |
Net realized and unrealized gains (losses) on investments | (0.02) |
Total from investment operations | 0.08 |
Distributions to shareholders from | |
Net investment income | (0.10) |
Net realized gains | (0.00) 3 |
Total distributions to shareholders | (0.10) |
Net asset value, end of period | $10.42 |
Total return4 | 0.74% |
Ratios to average net assets (annualized) | |
Gross expenses | 0.76% ♦,5 |
Net expenses | 0.49% ♦,5 |
Net investment income | 1.89% 5 |
Supplemental data | |
Portfolio turnover rate6 | 81% |
Net assets, end of period (000s omitted) | $5,782 |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
1 | For the period from August 26, 2022 (commencement of class operations) to February 28, 2023 |
2 | Calculated based upon average shares outstanding |
3 | Amount is less than $0.005. |
4 | Returns for periods of less than one year are not annualized. |
5 | Ratios include net expenses allocated from the affiliated Master Portfolios in the amount of 0.11%. |
6 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class A | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $11.36 | $12.15 | $10.11 | $9.94 | $11.54 | $10.92 | |
Net investment income | 0.17 3 | 0.16 3 | 0.15 | 0.18 | 0.11 | 0.13 | |
Net realized and unrealized gains (losses) on investments | (0.98) | 0.41 | 2.09 | 0.17 | 0.12 | 0.98 | |
Total from investment operations | (0.81) | 0.57 | 2.24 | 0.35 | 0.23 | 1.11 | |
Distributions to shareholders from | |||||||
Net investment income | (0.07) | (0.16) | (0.16) | (0.18) | (0.09) | (0.19) | |
Net realized gains | (0.09) | (1.20) | (0.04) | 0.00 | (1.74) | (0.30) | |
Total distributions to shareholders | (0.16) | (1.36) | (0.20) | (0.18) | (1.83) | (0.49) | |
Net asset value, end of period | $10.39 | $11.36 | $12.15 | $10.11 | $9.94 | $11.54 | |
Total return4 | (7.11)% | 4.07% | 22.30% | 3.40% | 2.99% | 10.30% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 0.78% ♦,* | 1.57% * | 2.32% * | 2.94% * | 4.08% * | 4.20% ^ | |
Net expenses | 0.60% ♦,* | 0.65% * | 0.67% * | 0.66% * | 0.60% * | 0.53% ^ | |
Net investment income | 1.70% * | 1.26% * | 1.37% * | 1.77% * | 1.23% * | 1.08% | |
Supplemental data | |||||||
Portfolio turnover rate5 | 80% | 84% | 85% | 36% | 37% | 53% | |
Net assets, end of period (000s omitted) | $130,399 | $4,472 | $3,340 | $2,317 | $1,010 | $917 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.11% |
Year ended February 28, 2022 | 0.12% |
Year ended February 28, 2021 | 0.12% |
Year ended February 29, 2020 | 0.15% |
Year ended February 28, 20192 | 0.13% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.10%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Total return calculations do not include any sales charges. Returns for periods of less than one year are not annualized. |
5 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class C | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $11.38 | $12.24 | $10.10 | $9.88 | $11.52 | $10.90 | |
Net investment income | 0.11 | 0.06 | 0.07 | 0.12 | 0.05 | 0.03 | |
Payment from affiliate | 0.00 | 0.00 | 0.13 | 0.00 | 0.00 | 0.00 | |
Net realized and unrealized gains (losses) on investments | (0.94) | 0.40 | 2.10 | 0.15 | 0.11 | 0.99 | |
Total from investment operations | (0.83) | 0.46 | 2.30 | 0.27 | 0.16 | 1.02 | |
Distributions to shareholders from | |||||||
Net investment income | (0.07) | (0.12) | (0.12) | (0.05) | (0.06) | (0.10) | |
Net realized gains | (0.09) | (1.20) | (0.04) | 0.00 | (1.74) | (0.30) | |
Total distributions to shareholders | (0.16) | (1.32) | (0.16) | (0.05) | (1.80) | (0.40) | |
Net asset value, end of period | $10.39 | $11.38 | $12.24 | $10.10 | $9.88 | $11.52 | |
Total return3 | (7.31)% | 3.19% | 22.95% 4 | 2.74% | 2.32% | 9.43% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 1.63% ♦,* | 1.80% * | 2.69% * | 3.62% * | 4.81% * | 4.95% ^ | |
Net expenses | 1.20% ♦,* | 1.43% * | 1.43% * | 1.42% * | 1.35% * | 1.29% ^ | |
Net investment income | 1.16% * | 0.50% * | 0.65% * | 1.17% * | 0.49% * | 0.27% | |
Supplemental data | |||||||
Portfolio turnover rate5 | 80% | 84% | 85% | 36% | 37% | 53% | |
Net assets, end of period (000s omitted) | $632 | $139 | $126 | $104 | $153 | $119 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.11% |
Year ended February 28, 2022 | 0.12% |
Year ended February 28, 2021 | 0.11% |
Year ended February 29, 2020 | 0.14% |
Year ended February 28, 20192 | 0.12% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.09%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Total return calculations do not include any sales charges. Returns for periods of less than one year are not annualized. |
4 | During the year ended February 28, 2021, the Fund received a payment from an affiliate which had an impact of 1.34% on the total return. |
5 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class R4 | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $11.47 | $12.25 | $10.18 | $9.99 | $11.59 | $10.96 | |
Net investment income | 0.21 3 | 0.20 3 | 0.19 | 0.23 | 0.13 | 0.15 | |
Net realized and unrealized gains (losses) on investments | (0.99) | 0.40 | 2.11 | 0.16 | 0.12 | 0.99 | |
Total from investment operations | (0.78) | 0.60 | 2.30 | 0.39 | 0.25 | 1.14 | |
Distributions to shareholders from | |||||||
Net investment income | (0.08) | (0.18) | (0.19) | (0.20) | (0.11) | (0.21) | |
Net realized gains | (0.09) | (1.20) | (0.04) | 0.00 | (1.74) | (0.30) | |
Total distributions to shareholders | (0.17) | (1.38) | (0.23) | (0.20) | (1.85) | (0.51) | |
Net asset value, end of period | $10.52 | $11.47 | $12.25 | $10.18 | $9.99 | $11.59 | |
Total return4 | (6.77)% | 4.32% | 22.70% | 3.74% | 3.19% | 10.53% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 0.49% ♦,* | 1.28% * | 2.04% * | 2.70% * | 3.80% * | 3.92% ^ | |
Net expenses | 0.29% ♦,* | 0.36% * | 0.37% * | 0.36% * | 0.31% * | 0.25% ^ | |
Net investment income | 2.00% * | 1.57% * | 1.70% * | 2.17% * | 1.51% * | 1.32% | |
Supplemental data | |||||||
Portfolio turnover rate5 | 80% | 84% | 85% | 36% | 37% | 53% | |
Net assets, end of period (000s omitted) | $19,080 | $133 | $127 | $106 | $104 | $120 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.11% |
Year ended February 28, 2022 | 0.10% |
Year ended February 28, 2021 | 0.10% |
Year ended February 29, 2020 | 0.13% |
Year ended February 28, 20192 | 0.12% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.09%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Returns for periods of less than one year are not annualized. |
5 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class R6 | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $11.49 | $12.26 | $10.19 | $9.99 | $11.60 | $10.96 | |
Net investment income | 0.23 3 | 0.22 3 | 0.16 | 0.24 | 0.14 | 0.17 | |
Net realized and unrealized gains (losses) on investments | (1.00) | 0.41 | 2.16 | 0.17 | 0.12 | 1.00 | |
Total from investment operations | (0.77) | 0.63 | 2.32 | 0.41 | 0.26 | 1.17 | |
Distributions to shareholders from | |||||||
Net investment income | (0.09) | (0.20) | (0.21) | (0.21) | (0.13) | (0.23) | |
Net realized gains | (0.09) | (1.20) | (0.04) | 0.00 | (1.74) | (0.30) | |
Total distributions to shareholders | (0.18) | (1.40) | (0.25) | (0.21) | (1.87) | (0.53) | |
Net asset value, end of period | $10.54 | $11.49 | $12.26 | $10.19 | $9.99 | $11.60 | |
Total return4 | (6.71)% | 4.54% | 22.85% | 3.99% | 3.26% | 10.77% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 0.49% ♦,* | 1.14% * | 1.90% * | 2.54% * | 3.66% * | 3.77% ^ | |
Net expenses | 0.14% ♦,* | 0.21% * | 0.22% * | 0.22% * | 0.16% * | 0.09% ^ | |
Net investment income | 2.23% * | 1.71% * | 1.84% * | 2.29% * | 1.66% * | 1.47% | |
Supplemental data | |||||||
Portfolio turnover rate5 | 80% | 84% | 85% | 36% | 37% | 53% | |
Net assets, end of period (000s omitted) | $31,145 | $8,833 | $7,513 | $5,543 | $4,775 | $5,544 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.12% |
Year ended February 28, 2022 | 0.12% |
Year ended February 28, 2021 | 0.12% |
Year ended February 29, 2020 | 0.15% |
Year ended February 28, 20192 | 0.13% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.10%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Returns for periods of less than one year are not annualized. |
5 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | |
Administrator Class | 2023 1 |
Net asset value, beginning of period | $10.49 |
Net investment income | 0.09 2 |
Net realized and unrealized gains (losses) on investments | 0.13 |
Total from investment operations | 0.22 |
Distributions to shareholders from | |
Net investment income | (0.08) |
Net realized gains | (0.09) |
Total distributions to shareholders | (0.17) |
Net asset value, end of period | $10.54 |
Total return3 | 2.06% |
Ratios to average net assets (annualized) | |
Gross expenses | 0.68% ♦,4 |
Net expenses | 0.49% ♦,4 |
Net investment income | 1.81% 4 |
Supplemental data | |
Portfolio turnover rate5 | 80% |
Net assets, end of period (000s omitted) | $43,278 |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
1 | For the period from August 26, 2022 (commencement of class operations) to February 28, 2023 |
2 | Calculated based upon average shares outstanding |
3 | Returns for periods of less than one year are not annualized. |
4 | Ratios include net expenses allocated from the affiliated Master Portfolios in the amount of 0.11%. |
5 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class A | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $11.36 | $12.22 | $9.95 | $9.84 | $11.66 | $10.97 | |
Net investment income | 0.17 3 | 0.02 | 0.14 | 0.18 | 0.09 | 0.11 | |
Net realized and unrealized gains (losses) on investments | (0.95) | 0.54 | 2.30 | 0.09 | 0.14 | 1.11 | |
Total from investment operations | (0.78) | 0.56 | 2.44 | 0.27 | 0.23 | 1.22 | |
Distributions to shareholders from | |||||||
Net investment income | (0.08) | (0.15) | (0.17) | (0.16) | (0.08) | (0.19) | |
Net realized gains | (0.09) | (1.27) | 0.00 | 0.00 | (1.97) | (0.34) | |
Total distributions to shareholders | (0.17) | (1.42) | (0.17) | (0.16) | (2.05) | (0.53) | |
Net asset value, end of period | $10.41 | $11.36 | $12.22 | $9.95 | $9.84 | $11.66 | |
Total return4 | (6.88)% | 4.00% | 24.45% | 2.65% | 3.13% | 11.24% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 0.85% ♦,* | 1.65% * | 2.41% * | 3.12% * | 4.34% * | 4.32% ^ | |
Net expenses | 0.60% ♦,* | 0.65% * | 0.67% * | 0.66% * | 0.60% * | 0.53% ^ | |
Net investment income | 1.63% * | 1.25% * | 1.30% * | 1.81% * | 1.16% * | 0.99% | |
Supplemental data | |||||||
Portfolio turnover rate5 | 75% | 81% | 85% | 36% | 34% | 44% | |
Net assets, end of period (000s omitted) | $83,061 | $1,860 | $1,464 | $733 | $521 | $453 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.12% |
Year ended February 28, 2022 | 0.12% |
Year ended February 28, 2021 | 0.12% |
Year ended February 29, 2020 | 0.15% |
Year ended February 28, 20192 | 0.13% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.09%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Total return calculations do not include any sales charges. Returns for periods of less than one year are not annualized. |
5 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class C | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $11.42 | $12.33 | $9.93 | $9.83 | $11.63 | $10.95 | |
Net investment income (loss) | 0.21 3 | (0.03) | 0.07 | 0.11 | 0.03 | 0.02 | |
Payment from affiliate | 0.00 | 0.00 | 0.16 | 0.00 | 0.00 | 0.00 | |
Net realized and unrealized gains (losses) on investments | (0.95) | 0.51 | 2.29 | 0.09 | 0.14 | 1.10 | |
Total from investment operations | (0.74) | 0.48 | 2.52 | 0.20 | 0.17 | 1.12 | |
Distributions to shareholders from | |||||||
Net investment income | 0.00 | (0.12) | (0.12) | (0.10) | 0.00 | (0.10) | |
Net realized gains | (0.09) | (1.27) | 0.00 | 0.00 | (1.97) | (0.34) | |
Total distributions to shareholders | (0.09) | (1.39) | (0.12) | (0.10) | (1.97) | (0.44) | |
Net asset value, end of period | $10.59 | $11.42 | $12.33 | $9.93 | $9.83 | $11.63 | |
Total return4 | (6.48)% | 3.27% | 25.39% 5 | 1.99% | 2.55% | 10.30% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 2.29% ♦ | 1.92% * | 2.78% * | 3.71% * | 5.08% * | 5.07% ^ | |
Net expenses | 0.50% ♦ | 1.43% * | 1.43% * | 1.42% * | 1.36% * | 1.29% ^ | |
Net investment income | 1.99% | 0.48% * | 0.62% * | 1.09% * | 0.37% * | 0.21% | |
Supplemental data | |||||||
Portfolio turnover rate6 | 75% | 81% | 85% | 36% | 34% | 44% | |
Net assets, end of period (000s omitted) | $45 | $165 | $135 | $107 | $102 | $120 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.11% |
Year ended February 28, 2022 | 0.14% |
Year ended February 28, 2021 | 0.11% |
Year ended February 29, 2020 | 0.14% |
Year ended February 28, 20192 | 0.13% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.09%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Total return calculations do not include any sales charges. Returns for periods of less than one year are not annualized. |
5 | During the year ended February 28, 2021, the Fund received a payment from an affiliate which had an impact of 1.66% on the total return. |
6 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class R4 | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $11.47 | $12.31 | $10.02 | $9.89 | $11.71 | $11.00 | |
Net investment income | 0.20 3 | 0.13 | 0.18 | 0.22 | 0.12 | 0.15 | |
Net realized and unrealized gains (losses) on investments | (0.96) | 0.48 | 2.30 | 0.09 | 0.13 | 1.11 | |
Total from investment operations | (0.76) | 0.61 | 2.48 | 0.31 | 0.25 | 1.26 | |
Distributions to shareholders from | |||||||
Net investment income | (0.09) | (0.18) | (0.19) | (0.18) | (0.10) | (0.21) | |
Net realized gains | (0.09) | (1.27) | 0.00 | 0.00 | (1.97) | (0.34) | |
Total distributions to shareholders | (0.18) | (1.45) | (0.19) | (0.18) | (2.07) | (0.55) | |
Net asset value, end of period | $10.53 | $11.47 | $12.31 | $10.02 | $9.89 | $11.71 | |
Total return4 | (6.64)% | 4.35% | 24.82% | 3.05% | 3.34% | 11.59% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 0.61% ♦,* | 1.36% * | 2.12% * | 2.86% * | 4.06% * | 4.04% ^ | |
Net expenses | 0.29% ♦,* | 0.36% * | 0.37% * | 0.36% * | 0.31% * | 0.25% ^ | |
Net investment income | 1.95% * | 1.56% * | 1.68% * | 2.15% * | 1.42% * | 1.26% | |
Supplemental data | |||||||
Portfolio turnover rate5 | 75% | 81% | 85% | 36% | 34% | 44% | |
Net assets, end of period (000s omitted) | $1,647 | $133 | $128 | $104 | $103 | $122 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.12% |
Year ended February 28, 2022 | 0.11% |
Year ended February 28, 2021 | 0.11% |
Year ended February 29, 2020 | 0.14% |
Year ended February 28, 20192 | 0.13% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.09%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Returns for periods of less than one year are not annualized. |
5 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class R6 | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $11.48 | $12.32 | $10.02 | $9.89 | $11.72 | $11.01 | |
Net investment income | 0.23 3 | 0.11 | 0.19 | 0.23 3 | 0.13 | 0.16 | |
Net realized and unrealized gains (losses) on investments | (0.98) | 0.52 | 2.32 | 0.10 | 0.13 | 1.12 | |
Total from investment operations | (0.75) | 0.63 | 2.51 | 0.33 | 0.26 | 1.28 | |
Distributions to shareholders from | |||||||
Net investment income | (0.09) | (0.20) | (0.21) | (0.20) | (0.12) | (0.23) | |
Net realized gains | (0.09) | (1.27) | 0.00 | 0.00 | (1.97) | (0.34) | |
Total distributions to shareholders | (0.18) | (1.47) | (0.21) | (0.20) | (2.09) | (0.57) | |
Net asset value, end of period | $10.55 | $11.48 | $12.32 | $10.02 | $9.89 | $11.72 | |
Total return4 | (6.50)% | 4.49% | 25.09% | 3.19% | 3.41% | 11.73% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 0.67% ♦,* | 1.22% * | 1.96% * | 2.66% * | 3.91% * | 3.89% ^ | |
Net expenses | 0.14% ♦,* | 0.21% * | 0.22% * | 0.22% * | 0.16% * | 0.09% ^ | |
Net investment income | 2.19% * | 1.70% * | 1.81% * | 2.22% * | 1.57% * | 1.41% | |
Supplemental data | |||||||
Portfolio turnover rate5 | 75% | 81% | 85% | 36% | 34% | 44% | |
Net assets, end of period (000s omitted) | $22,279 | $10,575 | $9,185 | $6,780 | $4,734 | $5,608 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.12% |
Year ended February 28, 2022 | 0.12% |
Year ended February 28, 2021 | 0.13% |
Year ended February 29, 2020 | 0.16% |
Year ended February 28, 20192 | 0.13% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.10%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Returns for periods of less than one year are not annualized. |
5 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | |
Administrator Class | 2023 1 |
Net asset value, beginning of period | $10.43 |
Net investment income | 0.09 |
Net realized and unrealized gains (losses) on investments | 0.19 |
Total from investment operations | 0.28 |
Distributions to shareholders from | |
Net investment income | (0.08) |
Net realized gains | (0.09) |
Total distributions to shareholders | (0.17) |
Net asset value, end of period | $10.54 |
Total return2 | 2.71% |
Ratios to average net assets (annualized) | |
Gross expenses | 0.74% ♦,3 |
Net expenses | 0.49% ♦,3 |
Net investment income | 1.73% 3 |
Supplemental data | |
Portfolio turnover rate4 | 75% |
Net assets, end of period (000s omitted) | $4,286 |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
1 | For the period from August 26, 2022 (commencement of class operations) to February 28, 2023 |
2 | Returns for periods of less than one year are not annualized. |
3 | Ratios include net expenses allocated from the affiliated Master Portfolios in the amount of 0.12%. |
4 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class A | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $11.21 | $12.08 | $9.83 | $9.77 | $11.74 | $11.00 | |
Net investment income | 0.16 | 0.13 | 0.15 | 0.16 | 0.08 | 0.09 | |
Net realized and unrealized gains (losses) on investments | (0.96) | 0.48 | 2.27 | 0.08 | 0.11 | 1.20 | |
Total from investment operations | (0.80) | 0.61 | 2.42 | 0.24 | 0.19 | 1.29 | |
Distributions to shareholders from | |||||||
Net investment income | (0.06) | (0.16) | (0.17) | (0.18) | (0.06) | (0.20) | |
Net realized gains | (0.16) | (1.32) | 0.00 | 0.00 | (2.10) | (0.35) | |
Total distributions to shareholders | (0.22) | (1.48) | (0.17) | (0.18) | (2.16) | (0.55) | |
Net asset value, end of period | $10.19 | $11.21 | $12.08 | $9.83 | $9.77 | $11.74 | |
Total return3 | (7.12)% | 4.42% | 24.64% | 2.33% | 2.80% | 11.79% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 0.77% ♦,* | 1.74% * | 2.63% * | 3.57% * | 4.11% * | 3.93% ^ | |
Net expenses | 0.60% ♦,* | 0.66% * | 0.68% * | 0.67% * | 0.63% * | 0.54% ^ | |
Net investment income | 1.56% * | 1.24% * | 1.30% * | 1.62% * | 0.99% * | 1.02% | |
Supplemental data | |||||||
Portfolio turnover rate4 | 76% | 77% | 87% | 36% | 32% | 40% | |
Net assets, end of period (000s omitted) | $152,084 | $2,490 | $3,279 | $1,858 | $454 | $472 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.12% |
Year ended February 28, 2022 | 0.12% |
Year ended February 28, 2021 | 0.13% |
Year ended February 29, 2020 | 0.16% |
Year ended February 28, 20192 | 0.13% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.09%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Total return calculations do not include any sales charges. Returns for periods of less than one year are not annualized. |
4 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class C | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $11.26 | $12.19 | $9.81 | $9.76 | $11.72 | $10.98 | |
Net investment income | 0.10 3 | 0.07 | 0.06 | 0.11 | 0.02 | 0.02 | |
Payment from affiliate | 0.00 | 0.00 | 0.16 | 0.00 | 0.00 | 0.00 | |
Net realized and unrealized gains (losses) on investments | (0.93) | 0.45 | 2.28 | 0.05 | 0.12 | 1.17 | |
Total from investment operations | (0.83) | 0.52 | 2.50 | 0.16 | 0.14 | 1.19 | |
Distributions to shareholders from | |||||||
Net investment income | (0.06) | (0.13) | (0.12) | (0.11) | 0.00 | (0.10) | |
Net realized gains | (0.16) | (1.32) | 0.00 | 0.00 | (2.10) | (0.35) | |
Total distributions to shareholders | (0.22) | (1.45) | (0.12) | (0.11) | (2.10) | (0.45) | |
Net asset value, end of period | $10.21 | $11.26 | $12.19 | $9.81 | $9.76 | $11.72 | |
Total return4 | (7.40)% | 3.64% | 25.52% 5 | 1.53% | 2.30% | 10.88% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 1.72% ♦,* | 1.97% * | 3.00% * | 4.35% * | 4.85% * | 4.70% ^ | |
Net expenses | 1.22% ♦,* | 1.42% * | 1.43% * | 1.42% * | 1.38% * | 1.29% ^ | |
Net investment income | 1.01% * | 0.49% * | 0.59% * | 1.05% * | 0.25% * | 0.16% | |
Supplemental data | |||||||
Portfolio turnover rate6 | 76% | 77% | 87% | 36% | 32% | 40% | |
Net assets, end of period (000s omitted) | $716 | $141 | $130 | $101 | $100 | $120 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.12% |
Year ended February 28, 2022 | 0.13% |
Year ended February 28, 2021 | 0.12% |
Year ended February 29, 2020 | 0.14% |
Year ended February 28, 20192 | 0.13% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.09%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Total return calculations do not include any sales charges. Returns for periods of less than one year are not annualized. |
5 | During the year ended February 28, 2021, the Fund received a payment from an affiliate which had an impact of 1.64% on the total return. |
6 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class R4 | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $11.34 | $12.19 | $9.91 | $9.83 | $11.80 | $11.04 | |
Net investment income | 0.19 3 | 0.18 | 0.18 | 0.22 | 0.11 | 0.14 | |
Net realized and unrealized gains (losses) on investments | (0.96) | 0.48 | 2.29 | 0.05 | 0.11 | 1.18 | |
Total from investment operations | (0.77) | 0.66 | 2.47 | 0.27 | 0.22 | 1.32 | |
Distributions to shareholders from | |||||||
Net investment income | (0.07) | (0.19) | (0.19) | (0.19) | (0.09) | (0.21) | |
Net realized gains | (0.16) | (1.32) | 0.00 | 0.00 | (2.10) | (0.35) | |
Total distributions to shareholders | (0.23) | (1.51) | (0.19) | (0.19) | (2.19) | (0.56) | |
Net asset value, end of period | $10.34 | $11.34 | $12.19 | $9.91 | $9.83 | $11.80 | |
Total return4 | (6.76)% | 4.79% | 24.98% | 2.61% | 3.06% | 12.07% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 0.49% ♦,* | 1.45% * | 2.36% * | 3.31% * | 3.82% * | 3.67% ^ | |
Net expenses | 0.29% ♦,* | 0.36% * | 0.37% * | 0.36% * | 0.34% * | 0.25% ^ | |
Net investment income | 1.87% * | 1.55% * | 1.65% * | 2.10% * | 1.29% * | 1.21% | |
Supplemental data | |||||||
Portfolio turnover rate5 | 76% | 77% | 87% | 36% | 32% | 40% | |
Net assets, end of period (000s omitted) | $25,030 | $133 | $127 | $103 | $102 | $123 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.12% |
Year ended February 28, 2022 | 0.11% |
Year ended February 28, 2021 | 0.12% |
Year ended February 29, 2020 | 0.14% |
Year ended February 28, 20192 | 0.13% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.09%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Returns for periods of less than one year are not annualized. |
5 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class R6 | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $11.35 | $12.20 | $9.92 | $9.84 | $11.81 | $11.04 | |
Net investment income | 0.21 3 | 0.19 | 0.19 | 0.23 | 0.12 | 0.16 | |
Net realized and unrealized gains (losses) on investments | (0.97) | 0.49 | 2.30 | 0.06 | 0.12 | 1.19 | |
Total from investment operations | (0.76) | 0.68 | 2.49 | 0.29 | 0.24 | 1.35 | |
Distributions to shareholders from | |||||||
Net investment income | (0.08) | (0.21) | (0.21) | (0.21) | (0.11) | (0.23) | |
Net realized gains | (0.16) | (1.32) | 0.00 | 0.00 | (2.10) | (0.35) | |
Total distributions to shareholders | (0.24) | (1.53) | (0.21) | (0.21) | (2.21) | (0.58) | |
Net asset value, end of period | $10.35 | $11.35 | $12.20 | $9.92 | $9.84 | $11.81 | |
Total return4 | (6.71)% | 4.95% | 25.12% | 2.75% | 3.24% | 12.31% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 0.56% ♦,* | 1.31% * | 2.20% * | 3.15% * | 3.67% * | 3.52% ^ | |
Net expenses | 0.14% ♦,* | 0.21% * | 0.22% * | 0.21% * | 0.19% * | 0.10% ^ | |
Net investment income | 2.09% * | 1.70% * | 1.80% * | 2.24% * | 1.44% * | 1.36% | |
Supplemental data | |||||||
Portfolio turnover rate5 | 76% | 77% | 87% | 36% | 32% | 40% | |
Net assets, end of period (000s omitted) | $31,469 | $6,656 | $6,050 | $4,897 | $4,707 | $5,651 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.12% |
Year ended February 28, 2022 | 0.12% |
Year ended February 28, 2021 | 0.13% |
Year ended February 29, 2020 | 0.16% |
Year ended February 28, 20192 | 0.13% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.10%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Returns for periods of less than one year are not annualized. |
5 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | |
Administrator Class | 2023 1 |
Net asset value, beginning of period | $10.23 |
Net investment income | 0.09 |
Net realized and unrealized gains (losses) on investments | 0.25 |
Total from investment operations | 0.34 |
Distributions to shareholders from | |
Net investment income | (0.06) |
Net realized gains | (0.16) |
Total distributions to shareholders | (0.22) |
Net asset value, end of period | $10.35 |
Total return2 | 3.38% |
Ratios to average net assets (annualized) | |
Gross expenses | 0.68% ♦,3 |
Net expenses | 0.49% ♦,3 |
Net investment income | 1.67% 3 |
Supplemental data | |
Portfolio turnover rate4 | 76% |
Net assets, end of period (000s omitted) | $33,527 |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
1 | For the period from August 26, 2022 (commencement of class operations) to February 28, 2023 |
2 | Returns for periods of less than one year are not annualized. |
3 | Ratios include net expenses allocated from the affiliated Master Portfolios in the amount of 0.12%. |
4 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class A | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $11.24 | $12.11 | $9.72 | $9.73 | $11.79 | $11.02 | |
Net investment income | 0.15 3 | 0.16 | 0.15 | 0.16 | 0.08 | 0.12 | |
Net realized and unrealized gains (losses) on investments | (0.89) | 0.51 | 2.41 | 0.00 4 | 0.08 | 1.20 | |
Total from investment operations | (0.74) | 0.67 | 2.56 | 0.16 | 0.16 | 1.32 | |
Distributions to shareholders from | |||||||
Net investment income | (0.07) | (0.16) | (0.17) | (0.17) | (0.07) | (0.19) | |
Net realized gains | (0.15) | (1.38) | 0.00 | 0.00 | (2.15) | (0.36) | |
Total distributions to shareholders | (0.22) | (1.54) | (0.17) | (0.17) | (2.22) | (0.55) | |
Net asset value, end of period | $10.28 | $11.24 | $12.11 | $9.72 | $9.73 | $11.79 | |
Total return5 | (6.53)% | 4.86% | 26.37% | 1.53% | 2.62% | 12.06% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 1.01% ♦,* | 1.89% * | 2.96% * | 3.61% * | 4.18% * | 4.09% ^ | |
Net expenses | 0.60% ♦,* | 0.65% * | 0.67% * | 0.66% * | 0.61% * | 0.54% ^ | |
Net investment income | 1.49% * | 1.28% * | 1.26% * | 1.72% * | 0.97% * | 0.90% | |
Supplemental data | |||||||
Portfolio turnover rate6 | 70% | 73% | 86% | 36% | 31% | 35% | |
Net assets, end of period (000s omitted) | $33,539 | $779 | $794 | $414 | $329 | $327 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.12% |
Year ended February 28, 2022 | 0.13% |
Year ended February 28, 2021 | 0.13% |
Year ended February 29, 2020 | 0.16% |
Year ended February 28, 20192 | 0.14% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.09%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Amount is less than $0.005. |
5 | Total return calculations do not include any sales charges. Returns for periods of less than one year are not annualized. |
6 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class C | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $11.27 | $12.19 | $9.68 | $9.71 | $11.75 | $10.99 | |
Net investment income (loss) | 0.08 | 0.07 | 0.06 | 0.10 | 0.02 | 0.02 | |
Payment from affiliate | 0.00 | 0.00 | 0.15 | 0.00 | 0.00 | 0.00 | |
Net realized and unrealized gains (losses) on investments | (0.82) | 0.52 | 2.42 | (0.01) | 0.09 | 1.20 | |
Total from investment operations | (0.74) | 0.59 | 2.63 | 0.09 | 0.11 | 1.22 | |
Distributions to shareholders from | |||||||
Net investment income | 0.00 | (0.13) | (0.12) | (0.12) | 0.00 | (0.10) | |
Net realized gains | (0.15) | (1.38) | 0.00 | 0.00 | (2.15) | (0.36) | |
Total distributions to shareholders | (0.15) | (1.51) | (0.12) | (0.12) | (2.15) | (0.46) | |
Net asset value, end of period | $10.38 | $11.27 | $12.19 | $9.68 | $9.71 | $11.75 | |
Total return3 | (6.58)% | 4.15% | 27.23% 4 | 0.78% | 2.06% | 11.18% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 2.60% ♦,* | 2.19% * | 3.38% * | 4.19% * | 4.92% * | 4.84% ^ | |
Net expenses | 0.56% ♦,* | 1.42% * | 1.43% * | 1.42% * | 1.36% * | 1.29% ^ | |
Net investment income | 1.93% * | 0.49% * | 0.56% * | 1.00% * | 0.21% * | 0.15% | |
Supplemental data | |||||||
Portfolio turnover rate5 | 70% | 73% | 86% | 36% | 31% | 35% | |
Net assets, end of period (000s omitted) | $33 | $157 | $145 | $109 | $102 | $121 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.12% |
Year ended February 28, 2022 | 0.13% |
Year ended February 28, 2021 | 0.13% |
Year ended February 29, 2020 | 0.15% |
Year ended February 28, 20192 | 0.13% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.09%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Total return calculations do not include any sales charges. Returns for periods of less than one year are not annualized. |
4 | During the year ended February 28, 2021, the Fund received a payment from an affiliate which had an impact of 1.60% on the total return. |
5 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class R4 | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $11.34 | $12.20 | $9.78 | $9.78 | $11.83 | $11.05 | |
Net investment income | 0.19 3 | 0.18 | 0.17 | 0.21 | 0.11 | 0.14 | |
Net realized and unrealized gains (losses) on investments | (0.90) | 0.54 | 2.44 | (0.01) | 0.08 | 1.22 | |
Total from investment operations | (0.71) | 0.72 | 2.61 | 0.20 | 0.19 | 1.36 | |
Distributions to shareholders from | |||||||
Net investment income | (0.08) | (0.20) | (0.19) | (0.20) | (0.09) | (0.22) | |
Net realized gains | (0.15) | (1.38) | 0.00 | 0.00 | (2.15) | (0.36) | |
Total distributions to shareholders | (0.23) | (1.58) | (0.19) | (0.20) | (2.24) | (0.58) | |
Net asset value, end of period | $10.40 | $11.34 | $12.20 | $9.78 | $9.78 | $11.83 | |
Total return4 | (6.22)% | 5.18% | 26.80% | 1.83% | 2.81% | 12.36% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 0.86% ♦,* | 1.60% * | 2.68% * | 3.34% * | 3.89% * | 3.81% ^ | |
Net expenses | 0.29% ♦,* | 0.36% * | 0.37% * | 0.36% * | 0.32% * | 0.25% ^ | |
Net investment income | 1.87% * | 1.56% * | 1.63% * | 2.06% * | 1.25% * | 1.19% | |
Supplemental data | |||||||
Portfolio turnover rate5 | 70% | 73% | 86% | 36% | 31% | 35% | |
Net assets, end of period (000s omitted) | $711 | $134 | $127 | $102 | $102 | $123 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.12% |
Year ended February 28, 2022 | 0.12% |
Year ended February 28, 2021 | 0.12% |
Year ended February 29, 2020 | 0.15% |
Year ended February 28, 20192 | 0.13% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.09%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Returns for periods of less than one year are not annualized. |
5 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class R6 | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $11.36 | $12.21 | $9.79 | $9.79 | $11.84 | $11.06 | |
Net investment income | 0.21 3 | 0.20 | 0.19 | 0.22 3 | 0.12 | 0.16 | |
Net realized and unrealized gains (losses) on investments | (0.90) | 0.54 | 2.44 | (0.01) | 0.08 | 1.21 | |
Total from investment operations | (0.69) | 0.74 | 2.63 | 0.21 | 0.20 | 1.37 | |
Distributions to shareholders from | |||||||
Net investment income | (0.09) | (0.21) | (0.21) | (0.21) | (0.10) | (0.23) | |
Net realized gains | (0.15) | (1.38) | 0.00 | 0.00 | (2.15) | (0.36) | |
Total distributions to shareholders | (0.24) | (1.59) | (0.21) | (0.21) | (2.25) | (0.59) | |
Net asset value, end of period | $10.43 | $11.36 | $12.21 | $9.79 | $9.79 | $11.84 | |
Total return4 | (6.06)% | 5.41% | 26.94% | 1.97% | 2.97% | 12.51% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 0.84% ♦,* | 1.46% * | 2.54% * | 3.18% * | 3.75% * | 3.66% ^ | |
Net expenses | 0.14% ♦,* | 0.21% * | 0.22% * | 0.21% * | 0.17% * | 0.10% ^ | |
Net investment income | 2.07% * | 1.70% * | 1.78% * | 2.18% * | 1.40% * | 1.35% | |
Supplemental data | |||||||
Portfolio turnover rate5 | 70% | 73% | 86% | 36% | 31% | 35% | |
Net assets, end of period (000s omitted) | $19,626 | $7,364 | $6,901 | $5,419 | $4,695 | $5,679 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.13% |
Year ended February 28, 2022 | 0.13% |
Year ended February 28, 2021 | 0.13% |
Year ended February 29, 2020 | 0.16% |
Year ended February 28, 20192 | 0.14% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.10%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Returns for periods of less than one year are not annualized. |
5 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | |
Administrator Class | 2023 1 |
Net asset value, beginning of period | $10.25 |
Net investment income | 0.08 |
Net realized and unrealized gains (losses) on investments | 0.32 |
Total from investment operations | 0.40 |
Distributions to shareholders from | |
Net investment income | (0.08) |
Net realized gains | (0.15) |
Total distributions to shareholders | (0.23) |
Net asset value, end of period | $10.42 |
Total return2 | 3.90% |
Ratios to average net assets (annualized) | |
Gross expenses | 0.91% ♦,3 |
Net expenses | 0.49% ♦,3 |
Net investment income | 1.59% 3 |
Supplemental data | |
Portfolio turnover rate4 | 70% |
Net assets, end of period (000s omitted) | $1,262 |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
1 | For the period from August 26, 2022 (commencement of class operations) to February 28, 2023 |
2 | Returns for periods of less than one year are not annualized. |
3 | Ratios include net expenses allocated from the affiliated Master Portfolios in the amount of 0.12%. |
4 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class A | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $11.38 | $12.14 | $9.66 | $9.73 | $11.80 | $11.03 | |
Net investment income | 0.14 3 | 0.16 | 0.13 | 0.17 | 0.07 | 0.11 | |
Net realized and unrealized gains (losses) on investments | (0.86) | 0.57 | 2.52 | (0.06) | 0.06 | 1.22 | |
Total from investment operations | (0.72) | 0.73 | 2.65 | 0.11 | 0.13 | 1.33 | |
Distributions to shareholders from | |||||||
Net investment income | (0.06) | (0.16) | (0.17) | (0.18) | (0.05) | (0.20) | |
Net realized gains | (0.18) | (1.33) | 0.00 | 0.00 | (2.15) | (0.36) | |
Total distributions to shareholders | (0.24) | (1.49) | (0.17) | (0.18) | (2.20) | (0.56) | |
Net asset value, end of period | $10.42 | $11.38 | $12.14 | $9.66 | $9.73 | $11.80 | |
Total return4 | (6.28)% | 5.36% | 27.59% | 1.01% | 2.37% | 12.16% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 0.91% ♦,* | 2.19% * | 3.27% * | 3.67% * | 4.34% * | 4.26% ^ | |
Net expenses | 0.60% ♦,* | 0.65% * | 0.67% * | 0.66% * | 0.60% * | 0.54% ^ | |
Net investment income | 1.41% * | 1.20% * | 1.28% * | 1.72% * | 0.96% * | 0.83% | |
Supplemental data | |||||||
Portfolio turnover rate5 | 70% | 68% | 85% | 36% | 31% | 35% | |
Net assets, end of period (000s omitted) | $35,369 | $495 | $382 | $254 | $198 | $256 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.13% |
Year ended February 28, 2022 | 0.13% |
Year ended February 28, 2021 | 0.13% |
Year ended February 29, 2020 | 0.16% |
Year ended February 28, 20192 | 0.13% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.09%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Total return calculations do not include any sales charges. Returns for periods of less than one year are not annualized. |
5 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class C | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $11.37 | $12.19 | $9.59 | $9.68 | $11.76 | $10.99 | |
Net investment income | 0.10 3 | 0.07 | 0.06 | 0.10 | 0.02 | 0.02 | |
Payment from affiliate | 0.00 | 0.00 | 0.15 | 0.00 | 0.00 | 0.00 | |
Net realized and unrealized gains (losses) on investments | (0.85) | 0.56 | 2.51 | (0.06) | 0.05 | 1.21 | |
Total from investment operations | (0.75) | 0.63 | 2.72 | 0.04 | 0.07 | 1.23 | |
Distributions to shareholders from | |||||||
Net investment income | (0.06) | (0.12) | (0.12) | (0.13) | 0.00 | (0.10) | |
Net realized gains | (0.18) | (1.33) | 0.00 | 0.00 | (2.15) | (0.36) | |
Total distributions to shareholders | (0.24) | (1.45) | (0.12) | (0.13) | (2.15) | (0.46) | |
Net asset value, end of period | $10.38 | $11.37 | $12.19 | $9.59 | $9.68 | $11.76 | |
Total return4 | (6.64)% | 4.51% | 28.40% 5 | 0.26% | 1.77% | 11.33% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 1.98% ♦,* | 2.46% * | 3.67% * | 4.42% * | 5.09% * | 5.02% ^ | |
Net expenses | 1.17% ♦,* | 1.42% * | 1.43% * | 1.42% * | 1.35% * | 1.29% ^ | |
Net investment income | 1.01% * | 0.46% * | 0.54% * | 0.99% * | 0.21% * | 0.15% | |
Supplemental data | |||||||
Portfolio turnover rate6 | 70% | 68% | 85% | 36% | 31% | 35% | |
Net assets, end of period (000s omitted) | $335 | $144 | $138 | $106 | $102 | $121 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.13% |
Year ended February 28, 2022 | 0.12% |
Year ended February 28, 2021 | 0.13% |
Year ended February 29, 2020 | 0.16% |
Year ended February 28, 20192 | 0.13% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.09%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Total return calculations do not include any sales charges. Returns for periods of less than one year are not annualized. |
5 | During the year ended February 28, 2021, the Fund received a payment from an affiliate which had a 1.62% impact on the total return. |
6 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class R4 | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $11.45 | $12.20 | $9.69 | $9.76 | $11.83 | $11.05 | |
Net investment income | 0.18 3 | 0.20 3 | 0.17 | 0.21 | 0.10 | 0.14 | |
Net realized and unrealized gains (losses) on investments | (0.87) | 0.57 | 2.53 | (0.07) | 0.06 | 1.22 | |
Total from investment operations | (0.69) | 0.77 | 2.70 | 0.14 | 0.16 | 1.36 | |
Distributions to shareholders from | |||||||
Net investment income | (0.07) | (0.19) | (0.19) | (0.21) | (0.08) | (0.22) | |
Net realized gains | (0.18) | (1.33) | 0.00 | 0.00 | (2.15) | (0.36) | |
Total distributions to shareholders | (0.25) | (1.52) | (0.19) | (0.21) | (2.23) | (0.58) | |
Net asset value, end of period | $10.51 | $11.45 | $12.20 | $9.69 | $9.76 | $11.83 | |
Total return4 | (5.98)% | 5.64% | 27.95% | 1.22% | 2.67% | 12.42% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 0.64% ♦,* | 1.91% * | 3.00% * | 3.39% * | 4.06% * | 3.99% ^ | |
Net expenses | 0.29% ♦,* | 0.36% * | 0.37% * | 0.36% * | 0.30% * | 0.25% ^ | |
Net investment income | 1.73% * | 1.52% * | 1.61% * | 2.05% * | 1.25% * | 1.19% | |
Supplemental data | |||||||
Portfolio turnover rate5 | 70% | 68% | 85% | 36% | 31% | 35% | |
Net assets, end of period (000s omitted) | $11,261 | $134 | $127 | $101 | $102 | $123 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.13% |
Year ended February 28, 2022 | 0.12% |
Year ended February 28, 2021 | 0.13% |
Year ended February 29, 2020 | 0.15% |
Year ended February 28, 20192 | 0.13% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.09%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Returns for periods of less than one year are not annualized. |
5 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class R6 | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $11.47 | $12.21 | $9.70 | $9.76 | $11.84 | $11.06 | |
Net investment income | 0.21 3 | 0.20 | 0.18 | 0.22 | 0.12 | 0.16 | |
Net realized and unrealized gains (losses) on investments | (0.89) | 0.60 | 2.54 | (0.06) | 0.05 | 1.21 | |
Total from investment operations | (0.68) | 0.80 | 2.72 | 0.16 | 0.17 | 1.37 | |
Distributions to shareholders from | |||||||
Net investment income | (0.08) | (0.21) | (0.21) | (0.22) | (0.10) | (0.23) | |
Net realized gains | (0.18) | (1.33) | 0.00 | 0.00 | (2.15) | (0.36) | |
Total distributions to shareholders | (0.26) | (1.54) | (0.21) | (0.22) | (2.25) | (0.59) | |
Net asset value, end of period | $10.53 | $11.47 | $12.21 | $9.70 | $9.76 | $11.84 | |
Total return4 | (5.92)% | 5.86% | 28.09% | 1.47% | 2.75% | 12.56% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 0.77% ♦,* | 1.77% * | 2.85% * | 3.25% * | 3.92% * | 3.84% ^ | |
Net expenses | 0.14% ♦,* | 0.21% * | 0.22% * | 0.21% * | 0.15% * | 0.10% ^ | |
Net investment income | 1.98% * | 1.67% * | 1.75% * | 2.19% * | 1.40% * | 1.35% | |
Supplemental data | |||||||
Portfolio turnover rate5 | 70% | 68% | 85% | 36% | 31% | 35% | |
Net assets, end of period (000s omitted) | $24,830 | $6,857 | $6,322 | $4,884 | $4,682 | $5,681 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.13% |
Year ended February 28, 2022 | 0.13% |
Year ended February 28, 2021 | 0.13% |
Year ended February 29, 2020 | 0.17% |
Year ended February 28, 20192 | 0.14% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.10%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Returns for periods of less than one year are not annualized. |
5 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | |
Administrator Class | 2023 1 |
Net asset value, beginning of period | $10.34 |
Net investment income | 0.08 |
Net realized and unrealized gains (losses) on investments | 0.35 |
Total from investment operations | 0.43 |
Distributions to shareholders from | |
Net investment income | (0.07) |
Net realized gains | (0.18) |
Total distributions to shareholders | (0.25) |
Net asset value, end of period | $10.52 |
Total return2 | 4.14% |
Ratios to average net assets (annualized) | |
Gross expenses | 0.81% ♦,3 |
Net expenses | 0.49% ♦,3 |
Net investment income | 1.52% 3 |
Supplemental data | |
Portfolio turnover rate4 | 70% |
Net assets, end of period (000s omitted) | $18,704 |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
1 | For the period from August 26, 2022 (commencement of class operations) to February 28, 2023 |
2 | Returns for periods of less than one year are not annualized. |
3 | Ratios include net expenses allocated from the affiliated Master Portfolios in the amount of 0.13%. |
4 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class A | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $11.37 | $12.19 | $9.66 | $9.73 | $11.80 | $11.03 | |
Net investment income | 0.12 | 0.15 | 0.12 | 0.15 | 0.08 | 0.11 | |
Net realized and unrealized gains (losses) on investments | (0.82) | 0.57 | 2.58 | (0.04) | 0.05 | 1.22 | |
Total from investment operations | (0.70) | 0.72 | 2.70 | 0.11 | 0.13 | 1.33 | |
Distributions to shareholders from | |||||||
Net investment income | (0.11) | (0.16) | (0.17) | (0.18) | (0.05) | (0.19) | |
Net realized gains | (0.00) 3 | (1.38) | 0.00 | 0.00 | (2.15) | (0.37) | |
Total distributions to shareholders | (0.11) | (1.54) | (0.17) | (0.18) | (2.20) | (0.56) | |
Net asset value, end of period | $10.56 | $11.37 | $12.19 | $9.66 | $9.73 | $11.80 | |
Total return4 | (6.05)% | 5.23% | 28.00% | 0.95% | 2.37% | 12.10% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 1.73% ♦,* | 2.13% * | 3.28% * | 3.82% * | 4.31% * | 4.18% ^ | |
Net expenses | 0.60% ♦,* | 0.65% * | 0.68% * | 0.67% * | 0.61% * | 0.54% ^ | |
Net investment income | 1.42% * | 1.20% * | 1.23% * | 1.68% * | 0.95% * | 0.89% | |
Supplemental data | |||||||
Portfolio turnover rate5 | 59% | 68% | 85% | 36% | 31% | 34% | |
Net assets, end of period (000s omitted) | $5,618 | $495 | $422 | $239 | $161 | $170 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.12% |
Year ended February 28, 2022 | 0.13% |
Year ended February 28, 2021 | 0.13% |
Year ended February 29, 2020 | 0.16% |
Year ended February 28, 20192 | 0.13% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.09%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Amount is less than $0.005. |
4 | Total return calculations do not include any sales charges. Returns for periods of less than one year are not annualized. |
5 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class C | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $11.36 | $12.24 | $9.59 | $9.67 | $11.75 | $10.99 | |
Net investment income | 0.18 3 | 0.07 | 0.06 | 0.10 | 0.02 | 0.02 | |
Payment from affiliate | 0.00 | 0.00 | 0.15 | 0.00 | 0.00 | 0.00 | |
Net realized and unrealized gains (losses) on investments | (0.89) | 0.56 | 2.56 | (0.06) | 0.05 | 1.21 | |
Total from investment operations | (0.71) | 0.63 | 2.77 | 0.04 | 0.07 | 1.23 | |
Distributions to shareholders from | |||||||
Net investment income | 0.00 | (0.13) | (0.12) | (0.12) | 0.00 | (0.10) | |
Net realized gains | (0.00) 4 | (1.38) | 0.00 | 0.00 | (2.15) | (0.37) | |
Total distributions to shareholders | 0.00 | (1.51) | (0.12) | (0.12) | (2.15) | (0.47) | |
Net asset value, end of period | $10.65 | $11.36 | $12.24 | $9.59 | $9.67 | $11.75 | |
Total return5 | (6.21)% | 4.45% | 28.94% 6 | 0.26% | 1.77% | 11.25% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 2.89% ♦,* | 2.42% * | 3.67% * | 4.40% * | 5.04% * | 4.93% ^ | |
Net expenses | 0.72% ♦,* | 1.42% * | 1.43% * | 1.42% * | 1.36% * | 1.29% ^ | |
Net investment income | 1.73 % * | 0.45% * | 0.53% * | 0.99% * | 0.18% * | 0.15% | |
Supplemental data | |||||||
Portfolio turnover rate7 | 59% | 68% | 85% | 36% | 31% | 34% | |
Net assets, end of period (000s omitted) | $44 | $161 | $139 | $100 | $100 | $121 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.13% |
Year ended February 28, 2022 | 0.15% |
Year ended February 28, 2021 | 0.13% |
Year ended February 29, 2020 | 0.15% |
Year ended February 28, 20192 | 0.13% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.09%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Amount is less than $0.005. |
5 | Total return calculations do not include any sales charges. Returns for periods of less than one year are not annualized. |
6 | During the year ended February 28, 2021, the Fund received a payment from an affiliate which had a 1.56% impact on the total return. |
7 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class R4 | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $11.45 | $12.25 | $9.69 | $9.75 | $11.83 | $11.05 | |
Net investment income | 0.18 3 | 0.18 | 0.17 | 0.21 | 0.10 | 0.14 | |
Net realized and unrealized gains (losses) on investments | (0.86) | 0.59 | 2.58 | (0.07) | 0.05 | 1.23 | |
Total from investment operations | (0.68) | 0.77 | 2.75 | 0.14 | 0.15 | 1.37 | |
Distributions to shareholders from | |||||||
Net investment income | (0.12) | (0.19) | (0.19) | (0.20) | (0.08) | (0.22) | |
Net realized gains | (0.00) 4 | (1.38) | 0.00 | 0.00 | (2.15) | (0.37) | |
Total distributions to shareholders | (0.12) | (1.57) | (0.19) | (0.20) | (2.23) | (0.59) | |
Net asset value, end of period | $10.65 | $11.45 | $12.25 | $9.69 | $9.75 | $11.83 | |
Total return5 | (5.82)% | 5.62% | 28.45% | 1.24% | 2.58% | 12.44% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 1.50% ♦,* | 1.85% * | 3.01% * | 3.55% * | 4.02% * | 3.90% ^ | |
Net expenses | 0.29% ♦,* | 0.36% * | 0.37% * | 0.36% * | 0.32% * | 0.25% ^ | |
Net investment income | 1.77% * | 1.52% * | 1.61% * | 2.04% * | 1.23% * | 1.19% | |
Supplemental data | |||||||
Portfolio turnover rate6 | 59% | 68% | 85% | 36% | 31% | 34% | |
Net assets, end of period (000s omitted) | $625 | $135 | $128 | $101 | $102 | $123 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.13% |
Year ended February 28, 2022 | 0.12% |
Year ended February 28, 2021 | 0.13% |
Year ended February 29, 2020 | 0.15% |
Year ended February 28, 20192 | 0.13% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.09%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Amount is less than $0.005. |
5 | Returns for periods of less than one year are not annualized. |
6 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class R6 | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $11.45 | $12.25 | $9.69 | $9.75 | $11.84 | $11.06 | |
Net investment income | 0.22 3 | 0.19 | 0.18 | 0.22 3 | 0.12 | 0.16 | |
Net realized and unrealized gains (losses) on investments | (0.87) | 0.60 | 2.59 | (0.07) | 0.04 | 1.22 | |
Total from investment operations | (0.65) | 0.79 | 2.77 | 0.15 | 0.16 | 1.38 | |
Distributions to shareholders from | |||||||
Net investment income | (0.13) | (0.21) | (0.21) | (0.21) | (0.10) | (0.23) | |
Net realized gains | (0.00) 4 | (1.38) | 0.00 | 0.00 | (2.15) | (0.37) | |
Total distributions to shareholders | (0.13) | (1.59) | (0.21) | (0.21) | (2.25) | (0.60) | |
Net asset value, end of period | $10.67 | $11.45 | $12.25 | $9.69 | $9.75 | $11.84 | |
Total return5 | (5.59)% | 5.75% | 28.62% | 1.38% | 2.70% | 12.58% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 1.50% ♦,* | 1.70% * | 2.86% * | 3.41% * | 3.87% * | 3.75% ^ | |
Net expenses | 0.14% ♦,* | 0.21% * | 0.22% * | 0.21% * | 0.17% * | 0.10% ^ | |
Net investment income | 2.08% * | 1.67% * | 1.75% * | 2.18% * | 1.38% * | 1.34% | |
Supplemental data | |||||||
Portfolio turnover rate6 | 59% | 68% | 85% | 36% | 31% | 34% | |
Net assets, end of period (000s omitted) | $10,206 | $7,389 | $6,540 | $5,031 | $4,678 | $5,679 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.13% |
Year ended February 28, 2022 | 0.13% |
Year ended February 28, 2021 | 0.13% |
Year ended February 29, 2020 | 0.17% |
Year ended February 28, 20192 | 0.14% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.10%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Amount is less than $0.005. |
5 | Returns for periods of less than one year are not annualized. |
6 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | |
Administrator Class | 2023 1 |
Net asset value, beginning of period | $10.34 |
Net investment income | 0.08 2 |
Net realized and unrealized gains (losses) on investments | 0.36 |
Total from investment operations | 0.44 |
Distributions to shareholders from | |
Net investment income | (0.12) |
Net realized gains | (0.00) 3 |
Total distributions to shareholders | (0.12) |
Net asset value, end of period | $10.66 |
Total return4 | 4.34% |
Ratios to average net assets (annualized) | |
Gross expenses | 1.58% ♦,5 |
Net expenses | 0.49% ♦,5 |
Net investment income | 1.48% 5 |
Supplemental data | |
Portfolio turnover rate6 | 59% |
Net assets, end of period (000s omitted) | $1,006 |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
1 | For the period from August 26, 2022 (commencement of class operations) to February 28, 2023 |
2 | Calculated based upon average shares outstanding |
3 | Amount is less than $0.005. |
4 | Returns for periods of less than one year are not annualized. |
5 | Ratios include net expenses allocated from the affiliated Master Portfolios in the amount of 0.13%. |
6 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class A | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $11.36 | $12.13 | $9.66 | $9.74 | $11.79 | $11.03 | |
Net investment income | 0.19 | 0.17 | 0.12 | 0.17 3 | 0.08 | 0.09 | |
Net realized and unrealized gains (losses) on investments | (0.84) | 0.54 | 2.51 | (0.05) | 0.06 | 1.23 | |
Total from investment operations | (0.65) | 0.71 | 2.63 | 0.12 | 0.14 | 1.32 | |
Distributions to shareholders from | |||||||
Net investment income | (0.11) | (0.16) | (0.16) | (0.20) | (0.06) | (0.20) | |
Net realized gains | (0.01) | (1.32) | 0.00 | 0.00 | (2.13) | (0.36) | |
Total distributions to shareholders | (0.12) | (1.48) | (0.16) | (0.20) | (2.19) | (0.56) | |
Net asset value, end of period | $10.59 | $11.36 | $12.13 | $9.66 | $9.74 | $11.79 | |
Total return4 | (5.70)% | 5.24% | 27.34% | 1.01% | 2.40% | 12.12% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 2.23% ♦,* | 2.25% * | 3.37% * | 3.64% * | 4.30% * | 4.22% ^ | |
Net expenses | 0.60% ♦,* | 0.65% * | 0.67% * | 0.66% * | 0.59% * | 0.53% ^ | |
Net investment income | 1.53% * | 1.21% * | 1.29% * | 1.67% * | 0.97% * | 1.03% | |
Supplemental data | |||||||
Portfolio turnover rate5 | 57% | 68% | 85% | 36% | 31% | 36% | |
Net assets, end of period (000s omitted) | $1,392 | $498 | $407 | $345 | $290 | $261 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.12% |
Year ended February 28, 2022 | 0.13% |
Year ended February 28, 2021 | 0.13% |
Year ended February 29, 2020 | 0.16% |
Year ended February 28, 20192 | 0.14% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.09%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Total return calculations do not include any sales charges. Returns for periods of less than one year are not annualized. |
5 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class C | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $11.39 | $12.22 | $9.62 | $9.72 | $11.76 | $10.99 | |
Net investment income | 0.14 3 | 0.07 | 0.06 | 0.10 | 0.02 | 0.02 | |
Payment from affiliate | 0.00 | 0.00 | 0.16 | 0.00 | 0.00 | 0.00 | |
Net realized and unrealized gains (losses) on investments | (0.83) | 0.55 | 2.50 | (0.07) | 0.07 | 1.21 | |
Total from investment operations | (0.69) | 0.62 | 2.72 | 0.03 | 0.09 | 1.23 | |
Distributions to shareholders from | |||||||
Net investment income | (0.09) | (0.13) | (0.12) | (0.13) | 0.00 | (0.10) | |
Net realized gains | (0.01) | (1.32) | 0.00 | 0.00 | (2.13) | (0.36) | |
Total distributions to shareholders | (0.10) | (1.45) | (0.12) | (0.13) | (2.13) | (0.46) | |
Net asset value, end of period | $10.60 | $11.39 | $12.22 | $9.62 | $9.72 | $11.76 | |
Total return4 | (6.04)% | 4.44% | 28.36% 5 | 0.16% | 1.89% | 11.28% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 3.04% ♦,* | 2.50% * | 3.75% * | 4.22% * | 5.04% * | 4.99% ^ | |
Net expenses | 0.94% ♦,* | 1.43% * | 1.43% * | 1.42% * | 1.35% * | 1.29% ^ | |
Net investment income | 1.33 % * | 0.46% * | 0.55% * | 0.99% * | 0.20% * | 0.15% | |
Supplemental data | |||||||
Portfolio turnover rate6 | 57% | 68% | 85% | 36% | 31% | 36% | |
Net assets, end of period (000s omitted) | $109 | $132 | $126 | $99 | $100 | $121 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.11% |
Year ended February 28, 2022 | 0.15% |
Year ended February 28, 2021 | 0.13% |
Year ended February 29, 2020 | 0.15% |
Year ended February 28, 20192 | 0.13% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.09%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Total return calculations do not include any sales charges. Returns for periods of less than one year are not annualized. |
5 | During the year ended February 28, 2021, the Fund received a payment from an affiliate which had a 1.66% impact on the total return. |
6 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class R4 | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $11.47 | $12.23 | $9.73 | $9.79 | $11.84 | $11.05 | |
Net investment income | 0.17 3 | 0.18 | 0.17 | 0.21 | 0.10 | 0.14 | |
Net realized and unrealized gains (losses) on investments | (0.80) | 0.57 | 2.52 | (0.06) | 0.06 | 1.22 | |
Total from investment operations | (0.63) | 0.75 | 2.69 | 0.15 | 0.16 | 1.36 | |
Distributions to shareholders from | |||||||
Net investment income | (0.13) | (0.19) | (0.19) | (0.21) | (0.08) | (0.21) | |
Net realized gains | (0.01) | (1.32) | 0.00 | 0.00 | (2.13) | (0.36) | |
Total distributions to shareholders | (0.14) | (1.51) | (0.19) | (0.21) | (2.21) | (0.57) | |
Net asset value, end of period | $10.70 | $11.47 | $12.23 | $9.73 | $9.79 | $11.84 | |
Total return4 | (5.45)% | 5.51% | 27.76% | 1.34% | 2.60% | 12.46% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 1.89% ♦,* | 1.96% * | 3.11% * | 3.37% * | 4.01% * | 3.96% ^ | |
Net expenses | 0.29% ♦,* | 0.36% * | 0.37% * | 0.36% * | 0.30% * | 0.25% ^ | |
Net investment income | 1.68% * | 1.52% * | 1.61% * | 2.05% * | 1.25% * | 1.19% | |
Supplemental data | |||||||
Portfolio turnover rate5 | 57% | 68% | 85% | 36% | 31% | 36% | |
Net assets, end of period (000s omitted) | $2,969 | $135 | $127 | $101 | $102 | $123 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.13% |
Year ended February 28, 2022 | 0.12% |
Year ended February 28, 2021 | 0.13% |
Year ended February 29, 2020 | 0.15% |
Year ended February 28, 20192 | 0.13% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.09%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Calculated based upon average shares outstanding |
4 | Returns for periods of less than one year are not annualized. |
5 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | Year ended May 31 | ||||||
Class R6 | 2023 | 2022 | 2021 | 2020 1 | 2019 2 | 2018 | |
Net asset value, beginning of period | $11.49 | $12.24 | $9.74 | $9.80 | $11.85 | $11.06 | |
Net investment income | 0.23 | 0.20 | 0.19 | 0.23 | 0.12 | 0.16 | |
Net realized and unrealized gains (losses) on investments | (0.85) | 0.58 | 2.52 | (0.06) | 0.06 | 1.22 | |
Total from investment operations | (0.62) | 0.78 | 2.71 | 0.17 | 0.18 | 1.38 | |
Distributions to shareholders from | |||||||
Net investment income | (0.14) | (0.21) | (0.21) | (0.23) | (0.10) | (0.23) | |
Net realized gains | (0.01) | (1.32) | 0.00 | 0.00 | (2.13) | (0.36) | |
Total distributions to shareholders | (0.15) | (1.53) | (0.21) | (0.23) | (2.23) | (0.59) | |
Net asset value, end of period | $10.72 | $11.49 | $12.24 | $9.74 | $9.80 | $11.85 | |
Total return3 | (5.40)% | 5.73% | 28.03% | 1.48% | 2.78% | 12.60% | |
Ratios to average net assets (annualized) | |||||||
Gross expenses | 1.88% ♦,* | 1.82% * | 2.96% * | 3.23% * | 3.87% * | 3.81% ^ | |
Net expenses | 0.14% ♦,* | 0.21% * | 0.22% * | 0.21% * | 0.15% * | 0.10% ^ | |
Net investment income | 2.13% * | 1.67% * | 1.76% * | 2.20% * | 1.40% * | 1.35% | |
Supplemental data | |||||||
Portfolio turnover rate4 | 57% | 68% | 85% | 36% | 31% | 36% | |
Net assets, end of period (000s omitted) | $5,971 | $6,413 | $5,939 | $4,685 | $4,706 | $5,692 |
* | Ratios include net expenses allocated from the affiliated Master Portfolios which were as follows: |
Year ended February 28, 2023 | 0.13% |
Year ended February 28, 2022 | 0.13% |
Year ended February 28, 2021 | 0.14% |
Year ended February 29, 2020 | 0.17% |
Year ended February 28, 20192 | 0.14% |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
^ | Ratios do not include net expenses allocated from the affiliated Master Portfolios. Including annualized net expenses allocated from the affiliated Master Portfolios, the expense ratios would be increased by 0.10%. |
1 | Year ended February 29 |
2 | For the nine months ended February 28, 2019. The Fund changed its fiscal year end from May 31 to February 28, effective February 28, 2019. |
3 | Returns for periods of less than one year are not annualized. |
4 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | |
Administrator Class | 2023 1 |
Net asset value, beginning of period | $10.41 |
Net investment income | 0.08 2 |
Net realized and unrealized gains (losses) on investments | 0.37 |
Total from investment operations | 0.45 |
Distributions to shareholders from | |
Net investment income | (0.13) |
Net realized gains | (0.01) |
Total distributions to shareholders | (0.14) |
Net asset value, end of period | $10.72 |
Total return3 | 4.31% |
Ratios to average net assets (annualized) | |
Gross expenses | 2.07% ♦,4 |
Net expenses | 0.49% ♦,4 |
Net investment income | 1.48% 4 |
Supplemental data | |
Portfolio turnover rate5 | 57% |
Net assets, end of period (000s omitted) | $2,074 |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
1 | For the period from August 26, 2022 (commencement of class operations) to February 28, 2023 |
2 | Calculated based upon average shares outstanding |
3 | Returns for periods of less than one year are not annualized. |
4 | Ratios include net expenses allocated from the affiliated Master Portfolios in the amount of 0.13%. |
5 | Portfolio turnover rate is calculated by multiplying the Fund’s ownership percentage in each respective affiliated Master Portfolio by the corresponding affiliated Master Portfolio’s purchases and sales. These purchase and sale amounts are aggregated with any direct purchases and sales and included in the portfolio turnover calculation. |
Year ended February 28 | |
Class A | 2023 1 |
Net asset value, beginning of period | $20.00 |
Net investment income | 0.12 |
Net realized and unrealized gains (losses) on investments | 0.52 |
Total from investment operations | 0.64 |
Distributions to shareholders from | |
Net investment income | (0.09) |
Net asset value, end of period | $20.55 |
Total return2 | 3.19% |
Ratios to average net assets (annualized) | |
Gross expenses | 3.73% ♦,3 |
Net expenses | 0.60% ♦,3 |
Net investment income | 1.29% 3 |
Supplemental data | |
Portfolio turnover rate | 38% |
Net assets, end of period (000s omitted) | $103 |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
1 | For the period from September 13, 2022 (commencement of class operations) to February 28, 2023 |
2 | Returns for periods of less than one year are not annualized. |
3 | Ratios include net expenses allocated from the affiliated Master Portfolios in the amount of 0.12%. |
Year ended February 28 | |
Class C | 2023 1 |
Net asset value, beginning of period | $20.00 |
Net investment income | 0.05 |
Net realized and unrealized gains (losses) on investments | 0.52 |
Total from investment operations | 0.57 |
Distributions to shareholders from | |
Net investment income | (0.09) |
Net asset value, end of period | $20.48 |
Total return2 | 2.84% |
Ratios to average net assets (annualized) | |
Gross expenses | 4.48% ♦,3 |
Net expenses | 1.35% ♦,3 |
Net investment income | 0.54% 3 |
Supplemental data | |
Portfolio turnover rate | 38% |
Net assets, end of period (000s omitted) | $103 |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
1 | For the period from September 13, 2022 (commencement of class operations) to February 28, 2023 |
2 | Returns for periods of less than one year are not annualized. |
3 | Ratios include net expenses allocated from the affiliated Master Portfolios in the amount of 0.12%. |
Year ended February 28 | |
Class R4 | 2023 1 |
Net asset value, beginning of period | $20.00 |
Net investment income | 0.14 |
Net realized and unrealized gains (losses) on investments | 0.52 |
Total from investment operations | 0.66 |
Distributions to shareholders from | |
Net investment income | (0.10) |
Net asset value, end of period | $20.56 |
Total return2 | 3.33% |
Ratios to average net assets (annualized) | |
Gross expenses | 3.45% ♦,3 |
Net expenses | 0.29% ♦,3 |
Net investment income | 1.58% 3 |
Supplemental data | |
Portfolio turnover rate | 38% |
Net assets, end of period (000s omitted) | $129 |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
1 | For the period from September 13, 2022 (commencement of class operations) to February 28, 2023 |
2 | Returns for periods of less than one year are not annualized. |
3 | Ratios include net expenses allocated from the affiliated Master Portfolios in the amount of 0.12%. |
Year ended February 28 | |
Class R6 | 2023 1 |
Net asset value, beginning of period | $20.00 |
Net investment income | 0.16 |
Net realized and unrealized gains (losses) on investments | 0.52 |
Total from investment operations | 0.68 |
Distributions to shareholders from | |
Net investment income | (0.11) |
Net asset value, end of period | $20.57 |
Total return2 | 3.43% |
Ratios to average net assets (annualized) | |
Gross expenses | 3.32% ♦,3 |
Net expenses | 0.14% ♦,3 |
Net investment income | 1.75% 3 |
Supplemental data | |
Portfolio turnover rate | 38% |
Net assets, end of period (000s omitted) | $4,829 |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
1 | For the period from September 13, 2022 (commencement of class operations) to February 28, 2023 |
2 | Returns for periods of less than one year are not annualized. |
3 | Ratios include net expenses allocated from the affiliated Master Portfolios in the amount of 0.13%. |
Year ended February 28 | |
Administrator Class | 2023 1 |
Net asset value, beginning of period | $20.00 |
Net investment income | 0.13 |
Net realized and unrealized gains (losses) on investments | 0.51 |
Total from investment operations | 0.64 |
Distributions to shareholders from | |
Net investment income | (0.09) |
Net asset value, end of period | $20.55 |
Total return2 | 3.22% |
Ratios to average net assets (annualized) | |
Gross expenses | 3.65% ♦,3 |
Net expenses | 0.49% ♦,3 |
Net investment income | 1.40% 3 |
Supplemental data | |
Portfolio turnover rate | 38% |
Net assets, end of period (000s omitted) | $103 |
♦ | Ratio may not align with the activity for the full reporting period due to the acquisition during the year. See Note 7 in the Notes to the Financial Statements for additional information on the acquisition. |
1 | For the period from September 13, 2022 (commencement of class operations) to February 28, 2023 |
2 | Returns for periods of less than one year are not annualized. |
3 | Ratios include net expenses allocated from the affiliated Master Portfolios in the amount of 0.12%. |
Tax cost | Gross unrealized gains | Gross unrealized losses | Net unrealized gains (losses) | |
Dynamic Target Today Fund | $ 45,685,488 | $17,252,091 | $ 0 | $17,252,091 |
Dynamic Target 2015 Fund | 21,299,488 | 5,628,423 | 0 | 5,628,423 |
Dynamic Target 2020 Fund | 118,120,691 | 18,102,155 | 0 | 18,102,155 |
Dynamic Target 2025 Fund | 88,467,175 | 0 | (46,781) | (46,781) |
Dynamic Target 2030 Fund | 209,627,584 | 14,903,395 | 0 | 14,903,395 |
Dynamic Target 2035 Fund | 106,769,040 | 4,592,166 | 0 | 4,592,166 |
Dynamic Target 2040 Fund | 224,270,720 | 16,623,235 | 0 | 16,623,235 |
Dynamic Target 2045 Fund | 52,882,716 | 1,829,326 | 0 | 1,829,326 |
Dynamic Target 2050 Fund | 82,505,004 | 7,173,531 | 0 | 7,173,531 |
Dynamic Target 2055 Fund | 17,223,972 | 0 | (21,739) | (21,739) |
Dynamic Target 2060 Fund | 11,025,151 | 1,190,579 | 0 | 1,190,579 |
Dynamic Target 2065 Fund | 4,757,010 | 360,406 | 0 | 360,406 |
Paid-in capital | Total distributable earnings (loss) | |
Dynamic Target Today Fund | $ (432) | $ 432 |
Dynamic Target 2015 Fund | (129) | 129 |
Dynamic Target 2020 Fund | (741) | 741 |
Dynamic Target 2025 Fund | 1,736 | (1,736) |
Dynamic Target 2030 Fund | 5,069 | (5,069) |
Dynamic Target 2035 Fund | 2,274 | (2,274) |
Dynamic Target 2040 Fund | 2,887 | (2,887) |
Dynamic Target 2045 Fund | 726 | (726) |
Dynamic Target 2050 Fund | 1,371 | (1,371) |
Dynamic Target 2055 Fund | 1,923 | (1,923) |
Dynamic Target 2060 Fund | 768 | (768) |
Dynamic Target 2065 Fund | (26) | 26 |
Capital loss carryforward | Post-October capital losses deferred | ||
Short-term | Long-term | ||
Dynamic Target Today Fund | $(1,726,024) | $(185,334) | $ (934,963) |
Dynamic Target 2015 Fund | (249,908) | 0 | (364,600) |
Dynamic Target 2020 Fund | (1,500,201) | 0 | (1,790,064) |
Dynamic Target 2025 Fund | (101,914) | 0 | (1,032,320) |
Dynamic Target 2030 Fund | (772,708) | 0 | (2,832,944) |
Dynamic Target 2035 Fund | 0 | 0 | (1,388,963) |
Dynamic Target 2040 Fund | 0 | 0 | (3,127,652) |
Dynamic Target 2045 Fund | 0 | 0 | (642,798) |
Dynamic Target 2050 Fund | 0 | 0 | (920,976) |
Dynamic Target 2055 Fund | (937) | 0 | (204,819) |
Dynamic Target 2060 Fund | (218,797) | 0 | (180,369) |
Dynamic Target 2065 Fund | (67,042) | (95,083) | (71,122) |
■ | Level 1 – quoted prices in active markets for identical securities |
■ | Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) |
■ | Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments) |
Dynamic Target Today Fund | Quoted prices (Level 1) | Other significant observable inputs (Level 2) | Significant unobservable inputs (Level 3) | Total |
Assets | ||||
Investments measured at net asset value* | $ 63,175,929 | |||
Futures contracts | $ 29,321 | $0 | $0 | 29,321 |
Total assets | $ 29,321 | $0 | $0 | $63,205,250 |
Liabilities | ||||
Futures contracts | $ 267,671 | $0 | $0 | $ 267,671 |
Total liabilities | $267,671 | $0 | $0 | $ 267,671 |
* | Investments that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient have not been categorized in the fair value hierarchy. The fair value amount presented in the table is intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statements of Assets and Liabilities. The Fund’s investments in the affiliated Master Portfolios are valued at $63,175,929. Each affiliated Master Portfolio does not have a redemption period notice, can be redeemed daily and does not have any unfunded commitments. |
Dynamic Target 2015 Fund | Quoted prices (Level 1) | Other significant observable inputs (Level 2) | Significant unobservable inputs (Level 3) | Total |
Assets | ||||
Investments measured at net asset value* | $ 27,029,269 | |||
Futures contracts | $ 13,151 | $0 | $0 | 13,151 |
Total assets | $ 13,151 | $0 | $0 | $27,042,420 |
Liabilities | ||||
Futures contracts | $ 114,509 | $0 | $0 | $ 114,509 |
Total liabilities | $114,509 | $0 | $0 | $ 114,509 |
* | Investments that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient have not been categorized in the fair value hierarchy. The fair value amount presented in the table is intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statements of Assets and Liabilities. The Fund’s investments in the affiliated Master Portfolios are valued at $27,029,269. Each affiliated Master Portfolio does not have a redemption period notice, can be redeemed daily and does not have any unfunded commitments. |
Dynamic Target 2020 Fund | Quoted prices (Level 1) | Other significant observable inputs (Level 2) | Significant unobservable inputs (Level 3) | Total |
Assets | ||||
Investments measured at net asset value* | $ 136,718,408 | |||
Futures contracts | $ 63,139 | $0 | $0 | 63,139 |
Total assets | $ 63,139 | $0 | $0 | $136,781,547 |
Liabilities | ||||
Futures contracts | $ 558,701 | $0 | $0 | $ 558,701 |
Total liabilities | $558,701 | $0 | $0 | $ 558,701 |
* | Investments that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient have not been categorized in the fair value hierarchy. The fair value amount presented in the table is intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statements of Assets and Liabilities. The Fund’s investments in the affiliated Master Portfolios are valued at $136,718,408. Each affiliated Master Portfolio does not have a redemption period notice, can be redeemed daily and does not have any unfunded commitments. |
Dynamic Target 2025 Fund | Quoted prices (Level 1) | Other significant observable inputs (Level 2) | Significant unobservable inputs (Level 3) | Total |
Assets | ||||
Investments measured at net asset value* | $ 88,746,648 | |||
Futures contracts | $ 43,982 | $0 | $0 | 43,982 |
Total assets | $ 43,982 | $0 | $0 | $88,790,630 |
Liabilities | ||||
Futures contracts | $ 370,236 | $0 | $0 | $ 370,236 |
Total liabilities | $370,236 | $0 | $0 | $ 370,236 |
* | Investments that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient have not been categorized in the fair value hierarchy. The fair value amount presented in the table is intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statements of Assets and Liabilities. The Fund’s investments in the affiliated Master Portfolios are valued at $88,746,648. Each affiliated Master Portfolio does not have a redemption period notice, can be redeemed daily and does not have any unfunded commitments. |
Dynamic Target 2030 Fund | Quoted prices (Level 1) | Other significant observable inputs (Level 2) | Significant unobservable inputs (Level 3) | Total |
Assets | ||||
Investments measured at net asset value* | $ 225,355,045 | |||
Futures contracts | $ 118,381 | $0 | $0 | 118,381 |
Total assets | $118,381 | $0 | $0 | $225,473,426 |
Liabilities | ||||
Futures contracts | $ 942,447 | $0 | $0 | $ 942,447 |
Total liabilities | $942,447 | $0 | $0 | $ 942,447 |
* | Investments that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient have not been categorized in the fair value hierarchy. The fair value amount presented in the table is intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statements of Assets and Liabilities. The Fund’s investments in the affiliated Master Portfolios are valued at $225,355,045. Each affiliated Master Portfolio does not have a redemption period notice, can be redeemed daily and does not have any unfunded commitments. |
Dynamic Target 2035 Fund | Quoted prices (Level 1) | Other significant observable inputs (Level 2) | Significant unobservable inputs (Level 3) | Total |
Assets | ||||
Investments measured at net asset value* | $ 111,769,754 | |||
Futures contracts | $ 53,755 | $0 | $0 | 53,755 |
Total assets | $ 53,755 | $0 | $0 | $111,823,509 |
Liabilities | ||||
Futures contracts | $ 462,303 | $0 | $0 | $ 462,303 |
Total liabilities | $462,303 | $0 | $0 | $ 462,303 |
* | Investments that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient have not been categorized in the fair value hierarchy. The fair value amount presented in the table is intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statements of Assets and Liabilities. The Fund’s investments in the affiliated Master Portfolios are valued at $111,769,754. Each affiliated Master Portfolio does not have a redemption period notice, can be redeemed daily and does not have any unfunded commitments. |
Dynamic Target 2040 Fund | Quoted prices (Level 1) | Other significant observable inputs (Level 2) | Significant unobservable inputs (Level 3) | Total |
Assets | ||||
Investments measured at net asset value* | $ 241,759,986 | |||
Futures contracts | $ 131,613 | $0 | $0 | 131,613 |
Total assets | $131,613 | $0 | $0 | $241,891,599 |
Liabilities | ||||
Futures contracts | $ 997,644 | $0 | $0 | $ 997,644 |
Total liabilities | $997,644 | $0 | $0 | $ 997,644 |
* | Investments that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient have not been categorized in the fair value hierarchy. The fair value amount presented in the table is intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statements of Assets and Liabilities. The Fund’s investments in the affiliated Master Portfolios are valued at $241,759,986. Each affiliated Master Portfolio does not have a redemption period notice, can be redeemed daily and does not have any unfunded commitments. |
Dynamic Target 2045 Fund | Quoted prices (Level 1) | Other significant observable inputs (Level 2) | Significant unobservable inputs (Level 3) | Total |
Assets | ||||
Investments measured at net asset value* | $ 54,910,789 | |||
Futures contracts | $ 29,321 | $0 | $0 | 29,321 |
Total assets | $ 29,321 | $0 | $0 | $54,940,110 |
Liabilities | ||||
Futures contracts | $ 228,068 | $0 | $0 | $ 228,068 |
Total liabilities | $228,068 | $0 | $0 | $ 228,068 |
* | Investments that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient have not been categorized in the fair value hierarchy. The fair value amount presented in the table is intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statements of Assets and Liabilities. The Fund’s investments in the affiliated Master Portfolios are valued at $54,910,789. Each affiliated Master Portfolio does not have a redemption period notice, can be redeemed daily and does not have any unfunded commitments. |
Dynamic Target 2050 Fund | Quoted prices (Level 1) | Other significant observable inputs (Level 2) | Significant unobservable inputs (Level 3) | Total |
Assets | ||||
Investments measured at net asset value* | $ 90,011,483 | |||
Futures contracts | $ 43,982 | $0 | $0 | 43,982 |
Total assets | $ 43,982 | $0 | $0 | $90,055,465 |
Liabilities | ||||
Futures contracts | $ 376,930 | $0 | $0 | $ 376,930 |
Total liabilities | $376,930 | $0 | $0 | $ 376,930 |
* | Investments that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient have not been categorized in the fair value hierarchy. The fair value amount presented in the table is intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statements of Assets and Liabilities. The Fund’s investments in the affiliated Master Portfolios are valued at $90,011,483. Each affiliated Master Portfolio does not have a redemption period notice, can be redeemed daily and does not have any unfunded commitments. |
Dynamic Target 2055 Fund | Quoted prices (Level 1) | Other significant observable inputs (Level 2) | Significant unobservable inputs (Level 3) | Total |
Assets | ||||
Investments measured at net asset value* | $ 17,262,255 | |||
Futures contracts | $ 8,768 | $0 | $0 | 8,768 |
Total assets | $ 8,768 | $0 | $0 | $17,271,023 |
Liabilities | ||||
Futures contracts | $ 68,790 | $0 | $0 | $ 68,790 |
Total liabilities | $68,790 | $0 | $0 | $ 68,790 |
* | Investments that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient have not been categorized in the fair value hierarchy. The fair value amount presented in the table is intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statements of Assets and Liabilities. The Fund’s investments in the affiliated Master Portfolios are valued at $17,262,255. Each affiliated Master Portfolio does not have a redemption period notice, can be redeemed daily and does not have any unfunded commitments. |
Dynamic Target 2060 Fund | Quoted prices (Level 1) | Other significant observable inputs (Level 2) | Significant unobservable inputs (Level 3) | Total |
Assets | ||||
Investments measured at net asset value* | $ 12,260,508 | |||
Futures contracts | $ 6,332 | $0 | $0 | 6,332 |
Total assets | $ 6,332 | $0 | $0 | $12,266,840 |
Liabilities | ||||
Futures contracts | $ 51,110 | $0 | $0 | $ 51,110 |
Total liabilities | $51,110 | $0 | $0 | $ 51,110 |
* | Investments that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient have not been categorized in the fair value hierarchy. The fair value amount presented in the table is intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statements of Assets and Liabilities. The Fund’s investments in the affiliated Master Portfolios are valued at $12,260,508. Each affiliated Master Portfolio does not have a redemption period notice, can be redeemed daily and does not have any unfunded commitments. |
Dynamic Target 2065 Fund | Quoted prices (Level 1) | Other significant observable inputs (Level 2) | Significant unobservable inputs (Level 3) | Total |
Assets | ||||
Investments measured at net asset value* | $ 5,136,979 | |||
Futures contracts | $ 2,435 | $0 | $0 | 2,435 |
Total assets | $ 2,435 | $0 | $0 | $5,139,414 |
Liabilities | ||||
Futures contracts | $ 21,998 | $0 | $0 | $ 21,998 |
Total liabilities | $21,998 | $0 | $0 | $ 21,998 |
* | Investments that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient have not been categorized in the fair value hierarchy. The fair value amount presented in the table is intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statements of Assets and Liabilities. The Fund’s investments in the affiliated Master Portfolios are valued at $5,136,979. Each affiliated Master Portfolio does not have a redemption period notice, can be redeemed daily and does not have any unfunded commitments. |
Affiliated Master Portfolio | Investment objective |
Allspring Bloomberg US Aggregate ex-Corporate Portfolio | Seeks to replicate the total return of the Bloomberg U.S. Aggregate ex-Corporate Index, before fees and expenses |
Allspring Emerging Markets Bond Portfolio | Seeks to replicate the total return of the JP Morgan EMBI Global Diversified Index, before fees and expenses |
Allspring Factor Enhanced Emerging Markets Equity Portfolio | Seeks long-term capital appreciation |
Allspring Factor Enhanced International Equity Portfolio | Seeks long-term capital appreciation |
Allspring Factor Enhanced U.S. Large Cap Equity Portfolio | Seeks long-term capital appreciation |
Allspring Factor Enhanced U.S. Small Cap Equity Portfolio | Seeks long-term capital appreciation |
Allspring High Yield Corporate Bond Portfolio | Seeks to replicate the total return of the Bloomberg U.S. High Yield 2% Issuer Capped Bond Index, before fees and expenses |
Allspring Investment Grade Corporate Bond Portfolio | Seeks to replicate the total return of the Bloomberg U.S. Corporate Bond Index, before fees and expenses |
Allspring Strategic Retirement Bond Portfolio | Seeks to replicate the total return of a blended index that is weighted 50% to the Bloomberg U.S. Treasury Inflation-Linked 1-10 Year Bond Index and 50% to the Bloomberg U.S. Government Intermediate Bond Index, before fees and expenses |
Allspring U.S. REIT Portfolio | Seeks to replicate the total return of the Dow Jones U.S. Select REIT Index, before fees and expenses |
Average daily net assets | Management fee |
First $5 billion | 0.100% |
Next $5 billion | 0.080 |
Over $10 billion | 0.070 |
Class-level administration fee | |
Class A | 0.21% |
Class C | 0.21 |
Class R4 | 0.08 |
Class R6 | 0.03 |
Administrator Class | 0.13 |
Expense ratio caps | |
Class A | 0.60% |
Class C | 1.35 |
Class R4 | 0.29 |
Class R6 | 0.14 |
Administrator Class | 0.49 |
Front-end sales charges | |
Class A | |
Dynamic Target Today Fund | $ 63 |
Dynamic Target 2020 Fund | 69 |
Dynamic Target 2025 Fund | 25 |
Dynamic Target 2030 Fund | 574 |
Dynamic Target 2035 Fund | 154 |
Dynamic Target 2040 Fund | 257 |
Dynamic Target 2045 Fund | 25 |
Dynamic Target 2050 Fund | 122 |
Dynamic Target 2055 Fund | 43 |
Dynamic Target 2060 Fund | 313 |
Purchases at cost | Sales proceeds | ||||
U.S. government | Non-U.S. government | U.S. government | Non-U.S. government | ||
Dynamic Target Today Fund | $28,397,761 | $ 4,789,093 | $41,651,684 | $ 8,821,185 | |
Dynamic Target 2015 Fund | 11,666,387 | 3,361,955 | 17,114,725 | 5,815,569 | |
Dynamic Target 2020 Fund | 46,670,917 | 18,362,488 | 68,443,052 | 24,980,686 | |
Dynamic Target 2025 Fund | 26,553,276 | 17,066,422 | 37,888,465 | 24,635,431 | |
Dynamic Target 2030 Fund | 48,258,482 | 50,532,546 | 66,374,657 | 65,900,173 | |
Dynamic Target 2035 Fund | 19,012,244 | 28,140,080 | 25,556,955 | 38,033,393 | |
Dynamic Target 2040 Fund | 30,238,514 | 65,644,701 | 40,427,654 | 80,900,994 | |
Dynamic Target 2045 Fund | 4,973,000 | 16,810,490 | 6,648,698 | 22,014,318 | |
Dynamic Target 2050 Fund | 4,407,761 | 29,677,410 | 5,892,996 | 36,292,189 | |
Dynamic Target 2055 Fund | 791,279 | 6,164,577 | 1,057,907 | 9,368,275 | |
Dynamic Target 2060 Fund | 575,605 | 4,458,617 | 769,560 | 7,081,596 | |
Dynamic Target 2065 Fund | 348,248 | 479,411 | 465,593 | 661,081 |
Average notional balance | ||
Long futures | Short futures | |
Dynamic Target Today Fund | $ 6,070,651 | $ 5,767,090 |
Dynamic Target 2015 Fund | 2,711,419 | 2,897,810 |
Dynamic Target 2020 Fund | 12,948,042 | 12,921,880 |
Dynamic Target 2025 Fund | 8,227,454 | 9,249,546 |
Dynamic Target 2030 Fund | 21,054,702 | 22,378,800 |
Dynamic Target 2035 Fund | 10,964,134 | 17,804,188 |
Dynamic Target 2040 Fund | 21,218,907 | 26,759,033 |
Dynamic Target 2045 Fund | 4,978,089 | 6,021,298 |
Dynamic Target 2050 Fund | 7,725,844 | 8,393,231 |
Dynamic Target 2055 Fund | 1,658,268 | 2,566,100 |
Dynamic Target 2060 Fund | 1,128,868 | 4,421,545 |
Dynamic Target 2065 Fund | 782,361 | 769,773 |
Asset derivatives | Liability derivatives | ||||
Dynamic Target Today Fund | Statements of Assets and Liabilities location | Fair value | Statements of Assets and Liabilities location | Fair value | |
Interest rate risk | Unrealized gains on futures contracts | $ 0* | Unrealized losses on futures contracts | $ 2,126* | |
Equity risk | Unrealized gains on futures contracts | 29,321* | Unrealized losses on futures contracts | 111,959* | |
Foreign currency risk | Unrealized gains on futures contracts | 0* | Unrealized losses on futures contracts | 153,586* | |
$29,321 | $267,671 |
* | Amount represents cumulative unrealized gains (losses) on futures contracts as reported in the table following the Portfolio of Investments. For futures contracts, only the current day’s variation margin as of February 28, 2023 is reported separately on the Statements of Assets and Liabilities. |
Dynamic Target Today Fund | Net realized gains (losses) on derivatives | Net change in unrealized gains (losses) on derivatives |
Interest rate risk | $ (92,091) | $ (2,126) |
Equity risk | 244,054 | (37,532) |
Foreign currency risk | (127,972) | (150,718) |
$ 23,991 | $(190,376) |
Asset derivatives | Liability derivatives | ||||
Dynamic Target 2015 Fund | Statements of Assets and Liabilities location | Fair value | Statements of Assets and Liabilities location | Fair value | |
Interest rate risk | Unrealized gains on futures contracts | $ 0* | Unrealized losses on futures contracts | $ 938* | |
Equity risk | Unrealized gains on futures contracts | 13,151* | Unrealized losses on futures contracts | 45,406* | |
Foreign currency risk | Unrealized gains on futures contracts | 0* | Unrealized losses on futures contracts | 68,165* | |
$13,151 | $114,509 |
* | Amount represents cumulative unrealized gains (losses) on futures contracts as reported in the table following the Portfolio of Investments. For futures contracts, only the current day’s variation margin as of February 28, 2023 is reported separately on the Statements of Assets and Liabilities. |
Dynamic Target 2015 Fund | Net realized gains (losses) on derivatives | Net change in unrealized gains (losses) on derivatives |
Interest rate risk | $ (37,802) | $ (938) |
Equity risk | 136,116 | 10,888 |
Foreign currency risk | (65,319) | (65,298) |
$ 32,995 | $(55,348) |
Asset derivatives | Liability derivatives | ||||
Dynamic Target 2020 Fund | Statements of Assets and Liabilities location | Fair value | Statements of Assets and Liabilities location | Fair value | |
Interest rate risk | Unrealized gains on futures contracts | $ 0* | Unrealized losses on futures contracts | $ 4,564* | |
Equity risk | Unrealized gains on futures contracts | 63,139* | Unrealized losses on futures contracts | 225,392* | |
Foreign currency risk | Unrealized gains on futures contracts | 0* | Unrealized losses on futures contracts | 328,745* | |
$63,139 | $558,701 |
* | Amount represents cumulative unrealized gains (losses) on futures contracts as reported in the table following the Portfolio of Investments. For futures contracts, only the current day’s variation margin as of February 28, 2023 is reported separately on the Statements of Assets and Liabilities. |
Dynamic Target 2020 Fund | Net realized gains (losses) on derivatives | Net change in unrealized gains (losses) on derivatives |
Interest rate risk | $(198,629) | $ (4,564) |
Equity risk | 879,566 | (94,972) |
Foreign currency risk | (266,201) | (324,923) |
$ 414,736 | $(424,459) |
Asset derivatives | Liability derivatives | ||||
Dynamic Target 2025 Fund | Statements of Assets and Liabilities location | Fair value | Statements of Assets and Liabilities location | Fair value | |
Interest rate risk | Unrealized gains on futures contracts | $ 0* | Unrealized losses on futures contracts | $ 3,063* | |
Equity risk | Unrealized gains on futures contracts | 43,982* | Unrealized losses on futures contracts | 145,420* | |
Foreign currency risk | Unrealized gains on futures contracts | 0* | Unrealized losses on futures contracts | 221,753* | |
$43,982 | $370,236 |
* | Amount represents cumulative unrealized gains (losses) on futures contracts as reported in the table following the Portfolio of Investments. For futures contracts, only the current day’s variation margin as of February 28, 2023 is reported separately on the Statements of Assets and Liabilities. |
Dynamic Target 2025 Fund | Net realized gains (losses) on derivatives | Net change in unrealized gains (losses) on derivatives |
Interest rate risk | $(137,856) | $ (3,063) |
Equity risk | 600,517 | 26,922 |
Foreign currency risk | (196,427) | (216,020) |
$ 266,234 | $(192,161) |
Asset derivatives | Liability derivatives | ||||
Dynamic Target 2030 Fund | Statements of Assets and Liabilities location | Fair value | Statements of Assets and Liabilities location | Fair value | |
Interest rate risk | Unrealized gains on futures contracts | $ 0* | Unrealized losses on futures contracts | $ 7,627* | |
Equity risk | Unrealized gains on futures contracts | 118,381* | Unrealized losses on futures contracts | 386,047* | |
Foreign currency risk | Unrealized gains on futures contracts | 0* | Unrealized losses on futures contracts | 548,773* | |
$118,381 | $942,447 |
* | Amount represents cumulative unrealized gains (losses) on futures contracts as reported in the table following the Portfolio of Investments. For futures contracts, only the current day’s variation margin as of February 28, 2023 is reported separately on the Statements of Assets and Liabilities. |
Dynamic Target 2030 Fund | Net realized gains (losses) on derivatives | Net change in unrealized gains (losses) on derivatives |
Interest rate risk | $ (336,141) | $ (7,627) |
Equity risk | 3,091,516 | (136,341) |
Foreign currency risk | (427,395) | (543,040) |
$2,327,980 | $(687,008) |
Asset derivatives | Liability derivatives | ||||
Dynamic Target 2035 Fund | Statements of Assets and Liabilities location | Fair value | Statements of Assets and Liabilities location | Fair value | |
Interest rate risk | Unrealized gains on futures contracts | $ 0* | Unrealized losses on futures contracts | $ 3,751* | |
Equity risk | Unrealized gains on futures contracts | 53,755* | Unrealized losses on futures contracts | 191,931* | |
Foreign currency risk | Unrealized gains on futures contracts | 0* | Unrealized losses on futures contracts | 266,621* | |
$53,755 | $462,303 |
* | Amount represents cumulative unrealized gains (losses) on futures contracts as reported in the table following the Portfolio of Investments. For futures contracts, only the current day’s variation margin as of February 28, 2023 is reported separately on the Statements of Assets and Liabilities. |
Dynamic Target 2035 Fund | Net realized gains (losses) on derivatives | Net change in unrealized gains (losses) on derivatives |
Interest rate risk | $ (163,790) | $ (3,751) |
Equity risk | 1,461,997 | (4,972) |
Foreign currency risk | (222,731) | (260,888) |
$1,075,476 | $(269,611) |
Asset derivatives | Liability derivatives | ||||
Dynamic Target 2040 Fund | Statements of Assets and Liabilities location | Fair value | Statements of Assets and Liabilities location | Fair value | |
Interest rate risk | Unrealized gains on futures contracts | $ 0* | Unrealized losses on futures contracts | $ 8,003* | |
Equity risk | Unrealized gains on futures contracts | 131,613* | Unrealized losses on futures contracts | 415,850* | |
Foreign currency risk | Unrealized gains on futures contracts | 0* | Unrealized losses on futures contracts | 573,791* | |
$131,613 | $997,644 |
* | Amount represents cumulative unrealized gains (losses) on futures contracts as reported in the table following the Portfolio of Investments. For futures contracts, only the current day’s variation margin as of February 28, 2023 is reported separately on the Statements of Assets and Liabilities. |
Dynamic Target 2040 Fund | Net realized gains (losses) on derivatives | Net change in unrealized gains (losses) on derivatives |
Interest rate risk | $ (355,416) | $ (8,003) |
Equity risk | 3,949,630 | (177,135) |
Foreign currency risk | (429,048) | (569,012) |
$3,165,166 | $(754,150) |
Asset derivatives | Liability derivatives | ||||
Dynamic Target 2045 Fund | Statements of Assets and Liabilities location | Fair value | Statements of Assets and Liabilities location | Fair value | |
Interest rate risk | Unrealized gains on futures contracts | $ 0* | Unrealized losses on futures contracts | $ 1,813* | |
Equity risk | Unrealized gains on futures contracts | 29,321* | Unrealized losses on futures contracts | 95,965* | |
Foreign currency risk | Unrealized gains on futures contracts | 0* | Unrealized losses on futures contracts | 130,290* | |
$29,321 | $228,068 |
* | Amount represents cumulative unrealized gains (losses) on futures contracts as reported in the table following the Portfolio of Investments. For futures contracts, only the current day’s variation margin as of February 28, 2023 is reported separately on the Statements of Assets and Liabilities. |
Dynamic Target 2045 Fund | Net realized gains (losses) on derivatives | Net change in unrealized gains (losses) on derivatives |
Interest rate risk | $ (76,778) | $ (1,813) |
Equity risk | 794,278 | 41,763 |
Foreign currency risk | (110,089) | (126,468) |
$ 607,411 | $ (86,518) |
Asset derivatives | Liability derivatives | ||||
Dynamic Target 2050 Fund | Statements of Assets and Liabilities location | Fair value | Statements of Assets and Liabilities location | Fair value | |
Interest rate risk | Unrealized gains on futures contracts | $ 0* | Unrealized losses on futures contracts | $ 3,001* | |
Equity risk | Unrealized gains on futures contracts | 43,982* | Unrealized losses on futures contracts | 159,942* | |
Foreign currency risk | Unrealized gains on futures contracts | 0* | Unrealized losses on futures contracts | 213,987* | |
$43,982 | $376,930 |
* | Amount represents cumulative unrealized gains (losses) on futures contracts as reported in the table following the Portfolio of Investments. For futures contracts, only the current day’s variation margin as of February 28, 2023 is reported separately on the Statements of Assets and Liabilities. |
Dynamic Target 2050 Fund | Net realized gains (losses) on derivatives | Net change in unrealized gains (losses) on derivatives |
Interest rate risk | $ (128,469) | $ (3,001) |
Equity risk | 1,468,640 | (23,572) |
Foreign currency risk | (168,745) | (210,165) |
$1,171,426 | $(236,738) |
Asset derivatives | Liability derivatives | ||||
Dynamic Target 2055 Fund | Statements of Assets and Liabilities location | Fair value | Statements of Assets and Liabilities location | Fair value | |
Interest rate risk | Unrealized gains on futures contracts | $ 0* | Unrealized losses on futures contracts | $ 563* | |
Equity risk | Unrealized gains on futures contracts | 8,768* | Unrealized losses on futures contracts | 29,400* | |
Foreign currency risk | Unrealized gains on futures contracts | 0* | Unrealized losses on futures contracts | 38,827* | |
$8,768 | $68,790 |
* | Amount represents cumulative unrealized gains (losses) on futures contracts as reported in the table following the Portfolio of Investments. For futures contracts, only the current day’s variation margin as of February 28, 2023 is reported separately on the Statements of Assets and Liabilities. |
Dynamic Target 2055 Fund | Net realized gains (losses) on derivatives | Net change in unrealized gains (losses) on derivatives |
Interest rate risk | $(22,450) | $ (563) |
Equity risk | 83,794 | 85,184 |
Foreign currency risk | (45,171) | (35,005) |
$ 16,173 | $ 49,616 |
Asset derivatives | Liability derivatives | ||||
Dynamic Target 2060 Fund | Statements of Assets and Liabilities location | Fair value | Statements of Assets and Liabilities location | Fair value | |
Interest rate risk | Unrealized gains on futures contracts | $ 0* | Unrealized losses on futures contracts | $ 375* | |
Equity risk | Unrealized gains on futures contracts | 6,332* | Unrealized losses on futures contracts | 21,397* | |
Foreign currency risk | Unrealized gains on futures contracts | 0* | Unrealized losses on futures contracts | 29,338* | |
$6,332 | $51,110 |
* | Amount represents cumulative unrealized gains (losses) on futures contracts as reported in the table following the Portfolio of Investments. For futures contracts, only the current day’s variation margin as of February 28, 2023 is reported separately on the Statements of Assets and Liabilities. |
Dynamic Target 2060 Fund | Net realized gains (losses) on derivatives | Net change in unrealized gains (losses) on derivatives |
Interest rate risk | $(11,658) | $ (375) |
Equity risk | 36,989 | 71,159 |
Foreign currency risk | (33,813) | (26,471) |
$ (8,482) | $ 44,313 |
Asset derivatives | Liability derivatives | ||||
Dynamic Target 2065 Fund | Statements of Assets and Liabilities location | Fair value | Statements of Assets and Liabilities location | Fair value | |
Interest rate risk | Unrealized gains on futures contracts | $ 0* | Unrealized losses on futures contracts | $ 188* | |
Equity risk | Unrealized gains on futures contracts | 2,435* | Unrealized losses on futures contracts | 8,002* | |
Foreign currency risk | Unrealized gains on futures contracts | 0* | Unrealized losses on futures contracts | 13,808* | |
$2,435 | $21,998 |
* | Amount represents cumulative unrealized gains (losses) on futures contracts as reported in the table following the Portfolio of Investments. For futures contracts, only the current day’s variation margin as of February 28, 2023 is reported separately on the Statements of Assets and Liabilities. |
Dynamic Target 2065 Fund | Net realized gains (losses) on derivatives | Net change in unrealized gains (losses) on derivatives |
Interest rate risk | $ (6,380) | $ (188) |
Equity risk | 82,377 | (5,567) |
Foreign currency risk | 0 | (13,808) |
$75,997 | $(19,563) |
Acquiring Fund | Target Fund |
Dynamic Target Today Fund | Allspring Target Today Fund |
Dynamic Target Today Fund | Allspring Target 2010 Fund |
Dynamic Target 2015 Fund | Allspring Target 2015 Fund |
Dynamic Target 2020 Fund | Allspring Target 2020 Fund |
Dynamic Target 2025 Fund | Allspring Target 2025 Fund |
Dynamic Target 2030 Fund | Allspring Target 2030 Fund |
Dynamic Target 2035 Fund | Allspring Target 2035 Fund |
Dynamic Target 2040 Fund | Allspring Target 2040 Fund |
Dynamic Target 2045 Fund | Allspring Target 2045 Fund |
Dynamic Target 2050 Fund | Allspring Target 2050 Fund |
Dynamic Target 2055 Fund | Allspring Target 2055 Fund |
Dynamic Target 2060 Fund | Allspring Target 2060 Fund |
Target Fund | Fair value of portfolio | Identified cost of portfolio | Unrealized gains (losses) | Target Fund value of net assets acquired | Acquiring Fund value of net assets before acquistion | Acquiring Fund aggregate net assets after acquisition |
Allspring Target Today Fund | $ 33,694,082 | $ 30,768,951 | $ 2,925,131 | $ 33,773,406 | $7,824,714 | $41,598,120 |
Allspring Target 2010 Fund | 33,770,331 | 18,297,524 | 15,472,807 | 33,862,822 | 7,824,714 | 41,687,536 |
Allspring Target 2015 Fund | 28,210,881 | 21,112,305 | 7,098,576 | 28,240,999 | 7,156,005 | 35,397,004 |
Allspring Target 2020 Fund | 144,271,320 | 123,512,285 | 20,759,035 | 144,285,159 | 9,914,335 | 154,199,494 |
Allspring Target 2025 Fund | 85,038,602 | 79,869,851 | 5,168,751 | 84,854,256 | 19,021,918 | 103,876,174 |
Allspring Target 2030 Fund | 223,512,331 | 208,848,542 | 14,663,789 | 223,532,739 | 22,870,527 | 246,403,266 |
Allspring Target 2035 Fund | 99,182,371 | 95,273,481 | 3,908,890 | 99,182,688 | 20,704,800 | 119,887,488 |
Allspring Target 2040 Fund | 238,292,144 | 225,132,727 | 13,159,417 | 238,339,551 | 14,326,482 | 252,666,033 |
Allspring Target 2045 Fund | 47,446,058 | 45,888,573 | 1,557,485 | 47,253,508 | 13,889,937 | 61,143,445 |
Allspring Target 2050 Fund | 84,622,030 | 78,307,628 | 6,314,402 | 84,700,855 | 12,052,075 | 96,752,930 |
Allspring Target 2055 Fund | 12,713,592 | 13,064,744 | (351,152) | 12,757,738 | 9,785,155 | 22,542,893 |
Allspring Target 2060 Fund | 9,789,037 | 10,744,484 | (955,447) | 9,874,591 | 7,629,817 | 17,504,408 |
Target Fund | Class | Exchange ratio | Number of shares issued by Acquiring Fund |
Allspring Target Today Fund | Class A | 0.80 | 2,725,307 1 |
Class C | 0.83 | 17,217 | |
Class R4 | 0.82 | 63,589 | |
Class R6 | 0.82 | 110,427 | |
Administrator Class | 0.82 | 538,927 | |
1 Amount includes 2,264 shares issued for Class R at an exchange ratio of 0.80. | |||
Allspring Target 2010 Fund | Class A | 0.93 | 2,689,132 1 |
Class C | 0.95 | 2,438 | |
Class R4 | 0.95 | 75,074 | |
Class R6 | 0.94 | 255,505 | |
Administrator Class | 0.94 | 442,234 | |
1 Amount includes 2,272 shares issued for Class R at an exchange ratio of 0.94. | |||
Allspring Target 2015 Fund | Class A | 0.61 | 2,427,530 1 |
Class R4 | 0.61 | 1,510 | |
Class R6 | 0.61 | 135,654 | |
Administrator Class | 0.63 | 323,878 | |
1 Amount includes 1,948 shares issued for Class R at an exchange ratio of 0.63. | |||
Allspring Target 2020 Fund | Class A | 1.04 | 10,283,358 1 |
Class C | 1.02 | 117,463 | |
Class R4 | 1.07 | 883,722 | |
Class R6 | 1.06 | 904,968 | |
Administrator Class | 1.06 | 2,440,526 | |
1 Amount includes 9,444 shares issued for Class R at an exchange ratio of 1.03. | |||
Allspring Target 2025 Fund | Class A | 0.45 | 6,281,718 1 |
Class R4 | 0.45 | 70,044 | |
Class R6 | 0.44 | 1,323,169 | |
Administrator Class | 0.45 | 515,462 | |
1 Amount includes 5,720 shares issued for Class R at an exchange ratio of 0.44. | |||
Allspring Target 2030 Fund | Class A | 1.02 | 12,565,972 1 |
Class C | 0.97 | 73,129 | |
Class R4 | 1.04 | 1,770,935 | |
Class R6 | 1.04 | 2,573,850 | |
Administrator Class | 1.04 | 4,507,069 | |
1 Amount includes 3,960 shares issued for Class R at an exchange ratio of 1.03. | |||
Allspring Target 2035 Fund | Class A | 0.63 | 7,901,606 1 |
Class R4 | 0.63 | 146,363 | |
Class R6 | 0.62 | 1,136,407 | |
Administrator Class | 0.63 | 425,139 | |
1 Amount includes 51,217 shares issued for Class R at an exchange ratio of 0.63. | |||
Allspring Target 2040 Fund | Class A | 1.25 | 15,071,298 1 |
Class C | 1.08 | 74,765 | |
Class R4 | 1.30 | 2,236,744 | |
Class R6 | 1.29 | 2,646,873 | |
Administrator Class | 1.29 | 3,479,040 | |
1 Amount includes 7,871 shares issued for Class R at an exchange ratio of 1.26. | |||
Target Fund | Class | Exchange ratio | Number of shares issued by Acquiring Fund |
Allspring Target 2045 Fund | Class A | 0.68 | 3,201,742 1 |
Class R4 | 0.68 | 75,045 | |
Class R6 | 0.67 | 1,248,234 | |
Administrator Class | 0.68 | 124,675 | |
1 Amount includes 2,512 shares issued for Class R at an exchange ratio of 0.70. | |||
Allspring Target 2050 Fund | Class A | 0.58 | 3,418,379 1 |
Class C | 0.58 | 47,585 | |
Class R4 | 0.59 | 1,044,217 | |
Class R6 | 0.58 | 1,896,508 | |
Administrator Class | 0.58 | 1,818,108 | |
1 Amount includes 2,992 shares issued for Class R at an exchange ratio of 0.59. | |||
Allspring Target 2055 Fund | Class A | 1.03 | 502,902 1 |
Class R4 | 1.03 | 62,927 | |
Class R6 | 1.02 | 579,734 | |
Administrator Class | 1.03 | 92,289 | |
1 Amount includes 3,170 shares issued for Class R at an exchange ratio of 1.01. | |||
Allspring Target 2060 Fund | Class A | 1.08 | 91,064 1 |
Class C | 1.09 | 13,730 | |
Class R4 | 1.10 | 242,449 | |
Class R6 | 1.09 | 399,462 | |
Administrator Class | 1.07 | 203,693 | |
1 Amount includes 2,713 shares issued for Class R at an exchange ratio of 1.07. |
Acquiring Fund | Net investment income | Net realized and unrealized gains (losses) on investments | Net increase (decrease) in net assets resulting from operations |
Dynamic Target Today Fund | $1,737,951 | $(22,067,780) | $(20,329,829) |
Dynamic Target 2015 Fund | 762,082 | (9,096,681) | (8,334,599) |
Dynamic Target 2020 Fund | 3,771,804 | (25,984,713) | (22,212,910) |
Dynamic Target 2025 Fund | 2,405,824 | (8,349,021) | (5,943,197) |
Dynamic Target 2030 Fund | 5,718,089 | (12,585,969) | (6,867,880) |
Dynamic Target 2035 Fund | 2,496,016 | (2,565,852) | (69,836) |
Dynamic Target 2040 Fund | 5,694,621 | (683,742) | 5,010,879 |
Dynamic Target 2045 Fund | 1,233,321 | (85,783) | 1,147,538 |
Dynamic Target 2050 Fund | 2,400,853 | 20,389 | 2,421,242 |
Dynamic Target 2055 Fund | 442,815 | 484,907 | 927,722 |
Dynamic Target 2060 Fund | 465,412 | 542,423 | 1,007,835 |
Ordinary income | Long-term capital gain | ||||
2023 | 2022 | 2023 | 2022 | ||
Dynamic Target Today Fund | $ 626,288 | $329,009 | $ 14,006 | $313,417 | |
Dynamic Target 2015 Fund | 304,882 | 313,026 | 11,911 | 316,467 | |
Dynamic Target 2020 Fund | 1,180,607 | 388,951 | 13,388 | 443,007 | |
Dynamic Target 2025 Fund | 858,071 | 647,424 | 4,052 | 781,745 | |
Dynamic Target 2030 Fund | 2,273,048 | 660,462 | 1,424,265 | 788,970 | |
Dynamic Target 2035 Fund | 893,991 | 653,549 | 944,536 | 801,624 | |
Dynamic Target 2040 Fund | 2,798,652 | 551,158 | 2,520,101 | 694,592 | |
Dynamic Target 2045 Fund | 469,948 | 458,670 | 736,217 | 581,093 | |
Dynamic Target 2050 Fund | 988,089 | 409,147 | 1,169,318 | 513,540 | |
Dynamic Target 2055 Fund | 198,548 | 429,569 | 6,721 | 546,766 | |
Dynamic Target 2060 Fund | 151,740 | 373,355 | 6,446 | 481,800 | |
Dynamic Target 2065 Fund1 | 27,287 | N/A | 0 | N/A |
Undistributed ordinary income | Unrealized gains (losses) | Capital loss carry forward | Post-October capital losses deferred | |
Dynamic Target Today Fund | $189,160 | $17,252,091 | $(1,911,358) | $ (934,963) |
Dynamic Target 2015 Fund | 82,847 | 5,628,423 | (249,908) | (364,600) |
Dynamic Target 2020 Fund | 342,108 | 18,102,155 | (1,500,201) | (1,790,064) |
Dynamic Target 2025 Fund | 220,350 | (46,781) | (101,914) | (1,032,320) |
Dynamic Target 2030 Fund | 32,550 | 14,903,395 | (772,708) | (2,832,944) |
Dynamic Target 2035 Fund | 285,522 | 4,592,166 | 0 | (1,388,963) |
Dynamic Target 2040 Fund | 604,413 | 16,623,235 | 0 | (3,127,652) |
Dynamic Target 2045 Fund | 135,927 | 1,829,326 | 0 | (642,798) |
Dynamic Target 2050 Fund | 213,469 | 7,173,531 | 0 | (920,976) |
Dynamic Target 2055 Fund | 43,674 | (21,739) | (937) | (204,819) |
Dynamic Target 2060 Fund | 37,038 | 1,190,579 | (218,797) | (180,369) |
Dynamic Target 2065 Fund | 13,752 | 360,406 | (162,125) | (71,122) |
Allspring Funds Trust:
![](https://capedge.com/proxy/N-CSR/0001193125-23-132105/g444832imgf8523bae16.jpg)
Dividends-received deduction | |
Dynamic Target Today Fund | 15% |
Dynamic Target 2015 Fund | 17 |
Dynamic Target 2020 Fund | 22 |
Dynamic Target 2025 Fund | 27 |
Dynamic Target 2030 Fund | 34 |
Dynamic Target 2035 Fund | 37 |
Dynamic Target 2040 Fund | 27 |
Dynamic Target 2045 Fund | 39 |
Dynamic Target 2050 Fund | 33 |
Dynamic Target 2055 Fund | 40 |
Dynamic Target 2060 Fund | 39 |
Dynamic Target 2065 Fund | 45 |
20% rate gain distribution | |
Dynamic Target Today Fund | $ 14,006 |
Dynamic Target 2015 Fund | 11,911 |
Dynamic Target 2020 Fund | 13,388 |
Dynamic Target 2025 Fund | 4,052 |
Dynamic Target 2030 Fund | 1,424,265 |
Dynamic Target 2035 Fund | 944,536 |
Dynamic Target 2040 Fund | 2,520,101 |
Dynamic Target 2045 Fund | 736,217 |
Dynamic Target 2050 Fund | 1,169,318 |
Dynamic Target 2055 Fund | 6,721 |
Dynamic Target 2060 Fund | 6,446 |
QDI | |
Dynamic Target Today Fund | $ 175,361 |
Dynamic Target 2015 Fund | 100,028 |
Dynamic Target 2020 Fund | 477,064 |
Dynamic Target 2025 Fund | 432,015 |
Dynamic Target 2030 Fund | 1,456,063 |
Dynamic Target 2035 Fund | 642,317 |
Dynamic Target 2040 Fund | 1,462,690 |
Dynamic Target 2045 Fund | 376,717 |
Dynamic Target 2050 Fund | 648,906 |
Dynamic Target 2055 Fund | 178,921 |
Dynamic Target 2060 Fund | 135,645 |
Dynamic Target 2065 Fund | 23,359 |
Interest-related dividends | |
Dynamic Target Today Fund | $ 367,255 |
Dynamic Target 2015 Fund | 164,057 |
Dynamic Target 2020 Fund | 595,026 |
Dynamic Target 2025 Fund | 368,761 |
Dynamic Target 2030 Fund | 816,246 |
Dynamic Target 2035 Fund | 258,103 |
Dynamic Target 2040 Fund | 439,360 |
Dynamic Target 2045 Fund | 82,329 |
Dynamic Target 2050 Fund | 93,565 |
Dynamic Target 2055 Fund | 20,353 |
Dynamic Target 2060 Fund | 14,871 |
Dynamic Target 2065 Fund | 4,445 |
Short-term capital gain dividends | |
Dynamic Target 2035 Fund | $ 27,006 |
Dynamic Target 2040 Fund | 1,230,228 |
Dynamic Target 2045 Fund | 42,933 |
Dynamic Target 2050 Fund | 370,443 |
% of U.S. government income | |
Dynamic Target Today Fund | 15% |
Dynamic Target 2015 Fund | 13 |
Dynamic Target 2020 Fund | 13 |
Dynamic Target 2025 Fund | 11 |
Dynamic Target 2030 Fund | 7 |
Dynamic Target 2035 Fund | 7 |
Dynamic Target 2040 Fund | 4 |
Dynamic Target 2045 Fund | 4 |
Dynamic Target 2050 Fund | 2 |
Dynamic Target 2055 Fund | 2 |
Dynamic Target 2060 Fund | 2 |
Name and year of birth | Position held and length of service* | Principal occupations during past five years or longer | Current other public company or investment company directorships |
William R. Ebsworth (Born 1957) | Trustee, since 2015 | Retired. From 1984 to 2013, equities analyst, portfolio manager, research director and chief investment officer at Fidelity Management and Research Company in Boston, Tokyo, and Hong Kong, and retired in 2013 as Chief Investment Officer of Fidelity Strategic Advisers, Inc. where he led a team of investment professionals managing client assets. Prior thereto, Board member of Hong Kong Securities Clearing Co., Hong Kong Options Clearing Corp., the Thailand International Fund, Ltd., Fidelity Investments Life Insurance Company, and Empire Fidelity Investments Life Insurance Company. Audit Committee Chair and Investment Committee Chair of the Vincent Memorial Hospital Foundation (non-profit organization). Mr. Ebsworth is a CFA® charterholder. | N/A |
Jane A. Freeman (Born 1953) | Trustee, since 2015; Chair Liaison, since 2018 | Retired. From 2012 to 2014 and 1999 to 2008, Chief Financial Officer of Scientific Learning Corporation. From 2008 to 2012, Ms. Freeman provided consulting services related to strategic business projects. Prior to 1999, Portfolio Manager at Rockefeller & Co. and Scudder, Stevens & Clark. Board member of the Harding Loevner Funds from 1996 to 2014, serving as both Lead Independent Director and chair of the Audit Committee. Board member of the Russell Exchange Traded Funds Trust from 2011 to 2012 and the chair of the Audit Committee. Ms. Freeman is also an inactive Chartered Financial Analyst. | N/A |
Isaiah Harris, Jr. (Born 1952) | Trustee, since 2009; Audit Committee Chair, since 2019 | Retired. Member of the Advisory Board of CEF of East Central Florida. Chairman of the Board of CIGNA Corporation from 2009 to 2021, and Director from 2005 to 2008. From 2003 to 2011, Director of Deluxe Corporation. Prior thereto, President and CEO of BellSouth Advertising and Publishing Corp. from 2005 to 2007, President and CEO of BellSouth Enterprises from 2004 to 2005 and President of BellSouth Consumer Services from 2000 to 2003. Emeritus member of the Iowa State University Foundation Board of Governors. Emeritus Member of the Advisory Board of Iowa State University School of Business. Advisory Board Member, Palm Harbor Academy (private school). Advisory Board Member, Fellowship of Christian Athletes. Mr. Harris is a certified public accountant (inactive status). | N/A |
David F. Larcker (Born 1950) | Trustee, since 2009 | Distinguished Visiting Fellow at the Hoover Institution since 2022. James Irvin Miller Professor of Accounting at the Graduate School of Business (Emeritus), Stanford University, Director of the Corporate Governance Research Initiative and Senior Faculty of The Rock Center for Corporate Governance since 2006. From 2005 to 2008, Professor of Accounting at the Graduate School of Business, Stanford University. Prior thereto, Ernst & Young Professor of Accounting at The Wharton School, University of Pennsylvania from 1985 to 2005. | N/A |
Name and year of birth | Position held and length of service* | Principal occupations during past five years or longer | Current other public company or investment company directorships |
Olivia S. Mitchell (Born 1953) | Trustee, since 2006; Nominating and Governance Committee Chair, since 2018 | International Foundation of Employee Benefit Plans Professor since 1993, Wharton School of the University of Pennsylvania. Director of Wharton’s Pension Research Council and Boettner Center on Pensions & Retirement Research, and Research Associate at the National Bureau of Economic Research. Previously taught at Cornell University from 1978 to 1993. | N/A |
Timothy J. Penny (Born 1951) | Trustee, since 1996; Chair, since 2018 | President and Chief Executive Officer of Southern Minnesota Initiative Foundation, a non-profit organization, since 2007. Vice Chair of the Economic Club of Minnesota, since 2007. Co-Chair of the Committee for a Responsible Federal Budget, since 1995. Member of the Board of Trustees of NorthStar Education Finance, Inc., a non-profit organization, from 2007-2022. Senior Fellow of the University of Minnesota Humphrey Institute from 1995 to 2017. | N/A |
James G. Polisson (Born 1959) | Trustee, since 2018 | Retired. Chief Marketing Officer, Source (ETF) UK Services, Ltd, from 2015 to 2017. From 2012 to 2015, Principal of The Polisson Group, LLC, a management consulting, corporate advisory and principal investing company. Chief Executive Officer and Managing Director at Russell Investments, Global Exchange Traded Funds from 2010 to 2012. Managing Director of Barclays Global Investors from 1998 to 2010 and Global Chief Marketing Officer for iShares and Barclays Global Investors from 2000 to 2010. Trustee of the San Francisco Mechanics’ Institute, a non-profit organization, from 2013 to 2015. Board member of the Russell Exchange Traded Fund Trust from 2011 to 2012. Director of Barclays Global Investors Holdings Deutschland GmbH from 2006 to 2009. Mr. Polisson is an attorney and has a retired status with the Massachusetts and District of Columbia Bar Associations. | N/A |
Pamela Wheelock (Born 1959) | Trustee, since January 2020; previously Trustee from January 2018 to July 2019 | Retired. Executive and Senior Financial leadership positions in the public, private and nonprofit sectors. Interim President and CEO, McKnight Foundation, 2020. Interim Commissioner, Minnesota Department of Human Services, 2019. Chief Operating Officer, Twin Cities Habitat for Humanity, 2017-2019. Vice President for University Services, University of Minnesota, 2012-2016. Interim President and CEO, Blue Cross and Blue Shield of Minnesota, 2011-2012. Executive Vice-President and Chief Financial Officer, Minnesota Wild, 2002-2008. Commissioner, Minnesota Department of Finance, 1999-2002. Chair of the Board of Directors of Destination Medical Center Corporation. Board member of the Minnesota Wild Foundation. | N/A |
Name and year of birth | Position held and length of service | Principal occupations during past five years or longer |
Andrew Owen (Born 1960) | President, since 2017 | President and Chief Executive Officer of Allspring Funds Management, LLC since 2017 and Head of Global Fund Governance of Allspring Global Investments since 2022. Prior thereto, co-president of Galliard Capital Management, LLC, an affiliate of Allspring Funds Management, LLC, from 2019 to 2022 and Head of Affiliated Managers, Allspring Global Investments, from 2014 to 2019 and Executive Vice President responsible for marketing, investments and product development for Allspring Funds Management, LLC, from 2009 to 2014. |
Jeremy DePalma (Born 1974) | Treasurer, since 2012 (for certain funds in the Fund Complex); since 2021 (for the remaining funds in the Fund Complex) | Senior Vice President of Allspring Funds Management, LLC since 2009. Senior Vice President of Evergreen Investment Management Company, LLC from 2008 to 2010 and head of the Fund Reporting and Control Team within Fund Administration from 2005 to 2010. |
Christopher Baker (Born 1976) | Chief Compliance Officer, since 2022 | Global Chief Compliance Officer for Allspring Global Investments since 2022. Prior thereto, Chief Compliance Officer for State Street Global Advisors from 2018 to 2021. Senior Compliance Officer for the State Street divisions of Alternative Investment Solutions, Sector Solutions, and Global Marketing from 2015 to 2018. From 2010 to 2015 Vice President, Global Head of Investment and Marketing Compliance for State Street Global Advisors. |
Matthew Prasse (Born 1983) | Chief Legal Officer, since 2022; Secretary, since 2021 | Senior Counsel of the Allspring Legal Department since 2021. Senior Counsel of the Wells Fargo Legal Department from 2018 to 2021. Previously, Counsel for Barings LLC from 2015 to 2018. Prior to joining Barings, Associate at Morgan, Lewis & Bockius LLP from 2008 to 2015. |
Dynamic Target Today Blended Index | Dynamic Target 2015 Blended Index | Dynamic Target 2020 Blended Index | |
Bloomberg U.S. Aggregate ex-Corporate Index | 29.57% | 27.35% | 23.65% |
Bloomberg U.S. Government Intermediate Bond Index | 2.52% | 2.33% | 2.02% |
Bloomberg U.S. Treasury Inflation Notes: 1-10 Year Index | 15.39% | 14.23% | 12.31% |
JP Morgan EMBI Global Diversified Index | 5.00% | 4.63% | 4.00% |
Allspring Factor Enhanced Emerging Markets Index (Net) | 5.00% | 4.63% | 4.00% |
Allspring Factor Enhanced International Index (Net) | 3.33% | 3.71% | 4.33% |
Allspring Factor Enhanced Large Cap Index | 2.52% | 2.33% | 2.02% |
Allspring Factor Enhanced Small Cap Index | 2.96% | 3.29% | 3.85% |
Allspring U.S. High Yield Bond Index | 9.88% | 10.99% | 12.84% |
Allspring U.S. Investment Grade Corporate Bond Index | 19.07% | 21.22% | 24.79% |
Allspring U.S. REIT Index | 4.76% | 5.29% | 6.19% |
1 year | 5 year | 10 year | |
Bloomberg U.S. Aggregate ex-Corporate Index1* | (9.47) | 0.28 | – |
Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index2 | (5.45) | 2.85 | 4.09 |
Bloomberg U.S. Corporate Investment Grade Index3 | (10.43) | 1.12 | 2.04 |
Bloomberg U.S. Government Intermediate Bond Index4 | (6.27) | 0.68 | 0.67 |
Bloomberg U.S. Treasury Inflation Notes: 1-10 Year Index5 | (6.98) | 2.77 | 1.30 |
Dow Jones U.S. Select REIT Index6 | (13.43) | 6.02 | 5.87 |
JP Morgan EMBI Global Diversified Index7 | (8.64) | (0.73) | 1.85 |
MSCI Emerging Markets Index (Net) (USD)8 | (15.28) | (1.87) | 1.52 |
MSCI World ex USA Index (Net) (USD)9 | (3.75) | 2.99 | 4.77 |
Russell 1000® Index10 | (8.21) | 9.68 | 12.09 |
Russell 2000® Index11 | (6.02) | 6.01 | 9.06 |
* | The inception date of the index is December 2015. |
1 | The Bloomberg U.S. Aggregate ex-Corporate Index is a broad-based benchmark that includes Treasuries, government-related securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable-rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities (agency and non-agency). You cannot invest directly in an index. |
2 | The Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index is an unmanaged index comprised of fixed rate, non-investment grade debt securities that are dollar denominated and non-convertible. The index limits the maximum exposure to any one issuer to 2%. You cannot invest directly into an index. |
3 | The Bloomberg U.S. Corporate Investment Grade Index is a broad based benchmark that measures the investment grade, fixed-rate, taxable, corporate bond market. Bloomberg U.S. Credit - Financial Institutions Index. You cannot invest directly into an index. |
4 | The Bloomberg U.S. Government Intermediate Bond Index is an unmanaged index composed of U.S. government securities with maturities in the 1- to 10-year range, including securities issued by the U.S. Treasury and U.S. government agencies. You cannot invest directly in an index. |
5 | Bloomberg U.S. Treasury Inflation Notes: 1-10 Year Index measures the performance of the U.S. Treasury Inflation Protected Securities (TIPS) market with maturities more than 1 year and less than 10 years. Federal Reserve holdings of U.S. TIPS are not index eligible and are excluded from the face amount outstanding of each bond in the index. You cannot invest directly in an index. |
Dynamic Target 2025 Blended Index | Dynamic Target 2030 Blended Index | Dynamic Target 2035 Blended Index | Dynamic Target 2040 Blended Index | Dynamic Target 2045 Blended Index | Dynamic Target 2050 Blended Index | Dynamic Target 2055 Blended Index | Dynamic Target 2060 Blended Index | Dynamic Target 2065 Blended Index |
20.09% | 16.08% | 12.82% | 10.06% | 7.10% | 4.14% | 2.96% | 2.96% | 2.96% |
1.70% | 1.35% | 1.08% | 0.85% | 0.60% | 0.35% | 0.25% | 0.25% | 0.25% |
10.45% | 8.37% | 6.67% | 5.24% | 3.70% | 2.16% | 1.54% | 1.54% | 1.54% |
2.53% | 0.92% | 0.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
2.53% | 0.92% | 0.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
3.76% | 2.03% | 0.47% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
1.70% | 1.35% | 1.08% | 0.85% | 0.60% | 0.35% | 0.25% | 0.25% | 0.25% |
4.71% | 5.84% | 6.70% | 7.38% | 7.97% | 8.52% | 8.74% | 8.74% | 8.74% |
15.70% | 19.44% | 22.48% | 24.69% | 26.62% | 28.50% | 29.26% | 29.26% | 29.26% |
29.45% | 34.95% | 38.69% | 40.74% | 42.73% | 44.78% | 45.60% | 45.60% | 45.60% |
7.38% | 8.75% | 9.67% | 10.19% | 10.68% | 11.20% | 11.40% | 11.40% | 11.40% |
6 | The Dow Jones U.S. Select REIT Index tracks the performance of publicly traded REITs and REIT-like securities and is designed to serve as a proxy for direct real estate investment, in part by excluding companies whose performance may be driven by factors other than the value of real estate. The index is a subset of the Dow Jones U.S. Select Real Estate Securities Index (RESI). You cannot invest directly into an index. |
7 | The JP Morgan Emerging Markets Bond Index (“EMBI”) Global Diversified Index is a composite index representing an unleveraged investment in emerging market bonds that is broadly based across the spectrum of emerging market bonds and includes reinvestment of income (to represent real assets). You cannot invest directly in an index. |
8 | The Morgan Stanley Capital International (MSCI) Emerging Markets (EM) Index (Net) (USD) is a free-float-adjusted market-capitalization-weighted index that is designed to measure equity market performance of emerging markets. You cannot invest directly in an index. |
9 | The MSCI World ex USA Index (Net) (USD) is a free-float-adjusted market-capitalization-weighted index that is designed to measure the equity market performance of developed markets, excluding the U.S. You cannot invest directly in an index. |
10 | The Russell 1000® Index measures the performance of the 1,000 largest companies in the Russell 3000® Index, which represents approximately 92% of the total market capitalization of the Russell 3000® Index. You cannot invest directly in an index. |
11 | The Russell 2000® Index measures the performance of the 2,000 smallest companies in the Russell 3000® Index, which represents approximately 8% of the total market capitalization of the Russell 3000® Index. You cannot invest directly in an index. |
![](https://capedge.com/proxy/N-CSR/0001193125-23-132105/g444832img83cbdd691.jpg)
P.O. Box 219967
Kansas City, MO 64121-9967
![](https://capedge.com/proxy/N-CSR/0001193125-23-132105/g444832img0a7d7c9517.jpg)
1-800-222-8222 or visit the Funds' website at allspringglobal.com. Read the prospectus carefully before you invest or send money.
AR3369 02-23
ITEM 2. CODE OF ETHICS
(a) As of the end of the period covered by the report, Allspring Funds Trust has adopted a code of ethics that applies to its President and Treasurer. A copy of the code of ethics is filed as an exhibit to this Form N-CSR.
(c) During the period covered by this report, there were no amendments to the provisions of the code of ethics adopted in Item 2(a) above.
(d) During the period covered by this report, there were no implicit or explicit waivers to the provisions of the code of ethics adopted in Item 2(a) above.
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT
The Board of Trustees of Allspring Funds Trust has determined that Isaiah Harris is an audit committee financial expert, as defined in Item 3 of Form N-CSR. Mr. Harris is independent for purposes of Item 3 of Form N-CSR.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES
(a), (b), (c), (d) The following table presents aggregate fees billed in each of the last two fiscal years for services rendered to the Registrant by the Registrant’s principal accountant. These fees were billed to the registrant and were approved by the Registrant’s audit committee.
Fiscal | Fiscal | |||||||
year ended | year ended | |||||||
February 28, 2023 | February 28, 2022 | |||||||
Audit fees | $ | 295,890 | $ | 457,680 | ||||
Audit-related fees | — | — | ||||||
Tax fees (1) | 69,570 | 95,910 | ||||||
All other fees | — | — | ||||||
|
|
|
| |||||
$ | 365,460 | $ | 553,590 | |||||
|
|
|
|
(1) | Tax fees consist of fees for tax compliance, tax advice, tax planning and excise tax. |
(e) The Chair of the Audit Committees is authorized to pre-approve: (1) audit services for the mutual funds of Allspring Funds Trust; (2) non-audit tax or compliance consulting or training services provided to the Funds by the independent auditors (“Auditors”) if the fees for any particular engagement are not anticipated to exceed $50,000; and (3) non-audit tax or compliance consulting or training services provided by the Auditors to a Fund’s investment adviser and its controlling entities (where pre-approval is required because the engagement relates directly to the operations and financial reporting of the Fund) if the fee to the Auditors for any particular engagement is not anticipated to exceed $50,000. For any such pre-approval sought from the Chair, Management shall prepare a brief description of the proposed services.
If the Chair approves of such service, he or she shall sign the statement prepared by Management. Such written statement shall be presented to the full Committees at their next regularly scheduled meetings.
(f) Not applicable
(g) Not applicable
(h) Not applicable
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS
Not applicable.
ITEM 6. INVESTMENTS
A Portfolio of Investments for each series of Allspring Funds Trust is included as part of the report to shareholders filed under Item 1 of this Form.
ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES
Not applicable.
ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES
Not applicable.
ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS
Not applicable.
ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant’s Board of Trustees that have been implemented since the registrant’s last provided disclosure in response to the requirements of this Item.
ITEM 11. CONTROLS AND PROCEDURES
(a) The President and Treasurer have concluded that the Allspring Funds Trust disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) provide reasonable assurances that material information relating to the registrant is made known to them by the appropriate persons based on their evaluation of these controls and procedures as of a date within 90 days of the filing of this report.
(b) There were no significant changes in the registrant’s internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the most recent fiscal half-year of the period covered by this report that materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.
ITEM 12. DISCLOSURES OF SECURITIES LENDING ACTIVITES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES
Not applicable.
ITEM 13. EXHIBITS
(a)(1) Code of Ethics.
(a)(2) Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
(b) Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Allspring Funds Trust | ||
By: | /s/ Andrew Owen | |
Andrew Owen | ||
President | ||
Date: April 26, 2023 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the date indicated.
Allspring Funds Trust | ||
By: | /s/ Andrew Owen | |
Andrew Owen | ||
President | ||
Date: April 26, 2023 | ||
By: | /s/Jeremy DePalma | |
Jeremy DePalma | ||
Treasurer | ||
Date: April 26, 2023 |