Allspring Discovery Innovation Fund
Fund
WFTDX
Price as of:
$13.05
- $0.12
- 0.91%
Primary Theme
fund company
Name
As of 10/07/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
14.6%
1 yr return
32.0%
3 Yr Avg Return
0.1%
5 Yr Avg Return
14.4%
Net Assets
$441 M
Holdings in Top 10
33.6%
52 WEEK LOW AND HIGH
$13.2
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.23%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 93.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/07/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
WFTDX - Profile
Distributions
- YTD Total Return 14.6%
- 3 Yr Annualized Total Return 0.1%
- 5 Yr Annualized Total Return 14.4%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.95%
- Dividend Yield 0.0%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameAllspring Discovery Innovation Fund
-
Fund Family NameAllspring Funds
-
Inception DateJul 30, 2010
-
Shares OutstandingN/A
-
Share ClassAdmin
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerWalter Price
Fund Description
Under normal circumstances, we invest:
| ■ | at least 80% of the Fund’s net assets in equity securities; and |
| ■ | up to 25% of the Fund’s total assets in equity securities of foreign issuers, including up to 15% of the Fund’s total assets in equity securities of emerging markets issuers, directly or through ADRs and similar investments. |
Under normal circumstances, we invest primarily in equity securities of companies of any market capitalization that we believe offer the potential for capital growth and are relevant to the Fund’s investment theme of innovation. We believe that companies relevant to this theme are those that derive a portion of their revenue from technology products or services, which we believe offers companies attractive opportunities for future growth through technological innovation. In selecting from this universe, we seek to identify companies that have, among other characteristics, the ability to develop or benefit from new products, services, or technological advancements that disrupt, or are expected to disrupt, existing markets or processes. We believe such companies can foster technological advancements to maximize efficiencies, establish pricing advantages, and gain market share from competitors. We believe innovation found in companies on the “right side of change” is often mispriced in today’s public equity markets and is a frequent signal or anomaly that we seek to exploit through our investment process. An important criteria for “right side of change” companies is that they are benefitting from changes in technological, demographic, lifestyle, or environmental trends. These companies will generally be part of the following industries or sectors: computer, software, communications equipment and services, internet retail, semi-conductor, health care, pharmaceuticals, biotechnology, defense and aerospace, energy equipment and services, nanotechnology, electric manufacturing services, transaction and payment processing services, information technology or communication services.
We may also invest in equity securities of foreign issuers, including emerging market issuers, through ADRs and similar investments. In order to capture opportunities from the broadening impact of innovation, we do not limit the fund’s exposure to any single industry or sector. We may invest in any sector, and at times the Fund may emphasize one or more particular sectors, and because we retain the flexibility to invest in a relatively small number of stocks, the Fund is also considered to be non-diversified. The Fund will invest at least 25% of the Fund’s assets in the technology sector.
We seek to identify companies that have the prospect for strong sales and earnings growth rates, that enjoy a competitive advantage (for example, dominant market share) and that we believe have effective management with a history of making investments that are in the best interests of shareholders (for example, companies with a history of earnings and sales growth that are in excess of total asset growth). We pay particular attention to how management teams allocate capital in order to drive future cash flow. This includes the allocation of human capital, financial capital, and social capital. We believe successful allocation of such resources has a correlation with key indicators of future performance. In addition to meeting with management, we take a surround-the-company approach by surveying a company’s vendors, distributors, competitors and customers to obtain multiple perspectives that help us make better investment decisions. Portfolio holdings are continuously monitored for changes in fundamentals. Price objectives are determined based on industry-specific valuation methodologies, including relative price-to-earnings multiples, price-to-book value, operating profit margin trends, enterprise value to EBITDA (earnings before interest, taxes, depreciation and amortization) and free cash flow yield. The team seeks a favorable risk/reward relationship to fair valuation, which we define as the value of the company (i.e., our price target for the stock) relative to where the stock is currently trading.
WFTDX - Performance
Return Ranking - Trailing
| Period | WFTDX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 14.6% | -23.0% | 45.2% | 75.45% |
| 1 Yr | 32.0% | -11.7% | 68.1% | 68.18% |
| 3 Yr | 0.1%* | -34.5% | 27.2% | 75.00% |
| 5 Yr | 14.4%* | -10.3% | 35.0% | 72.59% |
| 10 Yr | 15.4%* | 0.8% | 27.7% | 64.90% |
* Annualized
Return Ranking - Calendar
| Period | WFTDX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 34.8% | -5.6% | 96.9% | 71.23% |
| 2022 | -51.4% | -73.9% | -16.4% | 90.28% |
| 2021 | -11.2% | -44.6% | 51.5% | 80.93% |
| 2020 | 45.1% | 5.5% | 154.1% | 45.27% |
| 2019 | 19.2% | -3.0% | 63.7% | 88.48% |
Total Return Ranking - Trailing
| Period | WFTDX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 14.6% | -23.0% | 45.2% | 75.45% |
| 1 Yr | 32.0% | -11.7% | 68.1% | 68.18% |
| 3 Yr | 0.1%* | -34.5% | 27.2% | 75.00% |
| 5 Yr | 14.4%* | -10.3% | 35.0% | 72.59% |
| 10 Yr | 15.4%* | 0.8% | 27.7% | 64.90% |
* Annualized
Total Return Ranking - Calendar
| Period | WFTDX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 34.8% | -2.3% | 96.9% | 79.00% |
| 2022 | -38.5% | -67.5% | -5.9% | 65.28% |
| 2021 | 13.4% | -17.8% | 59.2% | 62.79% |
| 2020 | 67.2% | 17.5% | 157.5% | 20.90% |
| 2019 | 29.5% | 7.5% | 66.9% | 84.82% |
NAV & Total Return History
WFTDX - Holdings
Concentration Analysis
| WFTDX | Category Low | Category High | WFTDX % Rank | |
|---|---|---|---|---|
| Net Assets | 441 M | 4.67 M | 81.2 B | 63.80% |
| Number of Holdings | 35 | 10 | 317 | 85.97% |
| Net Assets in Top 10 | 144 M | 1.67 M | 48.8 B | 67.42% |
| Weighting of Top 10 | 33.62% | 13.8% | 100.0% | 89.14% |
Top 10 Holdings
- KLA Corp 3.81%
- Trade Desk Inc/The 3.63%
- Motorola Solutions Inc 3.40%
- Intuitive Surgical Inc 3.34%
- Monolithic Power Systems Inc 3.32%
- Tyler Technologies Inc 3.31%
- Waste Connections Inc 3.25%
- MercadoLibre Inc 3.20%
- Axon Enterprise Inc 3.19%
- SP Global Inc 3.18%
Asset Allocation
| Weighting | Return Low | Return High | WFTDX % Rank | |
|---|---|---|---|---|
| Stocks | 99.20% | 0.00% | 100.77% | 47.51% |
| Cash | 0.86% | 0.00% | 30.34% | 66.06% |
| Preferred Stocks | 0.00% | 0.00% | 8.61% | 93.67% |
| Other | 0.00% | -0.02% | 26.87% | 88.24% |
| Convertible Bonds | 0.00% | 0.00% | 0.40% | 91.86% |
| Bonds | 0.00% | 0.00% | 87.98% | 91.86% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | WFTDX % Rank | |
|---|---|---|---|---|
| Technology | 75.20% | 2.80% | 100.00% | 35.29% |
| Consumer Cyclical | 9.80% | 0.00% | 32.97% | 25.79% |
| Communication Services | 8.64% | 0.00% | 97.05% | 57.92% |
| Financial Services | 5.88% | 0.00% | 38.36% | 37.56% |
| Industrials | 0.48% | 0.00% | 38.68% | 59.28% |
| Utilities | 0.00% | 0.00% | 5.17% | 91.86% |
| Real Estate | 0.00% | 0.00% | 15.05% | 93.67% |
| Healthcare | 0.00% | 0.00% | 25.57% | 95.93% |
| Energy | 0.00% | 0.00% | 1.24% | 91.86% |
| Consumer Defense | 0.00% | 0.00% | 5.64% | 92.76% |
| Basic Materials | 0.00% | 0.00% | 2.38% | 91.86% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | WFTDX % Rank | |
|---|---|---|---|---|
| US | 99.20% | 0.00% | 100.77% | 31.22% |
| Non US | 0.00% | 0.00% | 60.23% | 95.93% |
WFTDX - Expenses
Operational Fees
| WFTDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.23% | 0.08% | 5.04% | 31.82% |
| Management Fee | 0.80% | 0.03% | 1.95% | 70.14% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 32.79% |
| Administrative Fee | N/A | 0.00% | 0.50% | 55.43% |
Sales Fees
| WFTDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| WFTDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| WFTDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 93.00% | 0.69% | 281.00% | 90.91% |
WFTDX - Distributions
Dividend Yield Analysis
| WFTDX | Category Low | Category High | WFTDX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 7.82% | 95.48% |
Dividend Distribution Analysis
| WFTDX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | None | Annual | Annual | Annual |
Net Income Ratio Analysis
| WFTDX | Category Low | Category High | WFTDX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -0.95% | -2.30% | 2.08% | 77.88% |
Capital Gain Distribution Analysis
| WFTDX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 09, 2022 | $2.322 | CapitalGainLongTerm |
| Dec 09, 2021 | $4.820 | OrdinaryDividend |
| Dec 09, 2020 | $2.815 | CapitalGainLongTerm |
| Dec 10, 2019 | $1.134 | CapitalGainLongTerm |
| Dec 10, 2018 | $0.983 | CapitalGainShortTerm |
| Dec 10, 2018 | $1.718 | CapitalGainLongTerm |
| Dec 13, 2017 | $0.256 | CapitalGainShortTerm |
| Dec 13, 2017 | $0.719 | CapitalGainLongTerm |
| Dec 09, 2016 | $0.578 | CapitalGainLongTerm |
| Dec 11, 2015 | $1.310 | CapitalGainLongTerm |
| Dec 11, 2014 | $0.642 | CapitalGainShortTerm |
| Dec 11, 2014 | $0.639 | CapitalGainLongTerm |
| Dec 09, 2013 | $0.511 | CapitalGainLongTerm |
| Dec 07, 2012 | $0.220 | CapitalGainLongTerm |
| Dec 09, 2011 | $0.358 | CapitalGainLongTerm |
WFTDX - Fund Manager Analysis
Managers
Walter Price
Start Date
Tenure
Tenure Rank
Sep 18, 2000
21.71
21.7%
Mr. Price is a senior portfolio manager and managing director with Allianz Global Investors, which he joined in 1974. He is co-lead portfolio manager of the Global Technology strategy. He previously worked for Colonial Management, an investment advisory firm in Boston, where he became a senior analyst responsible for the chemical industry and the technology area.
Huachen Chen
Start Date
Tenure
Tenure Rank
Dec 31, 2004
17.42
17.4%
Mr. Chen is a senior portfolio manager, senior analyst and a managing director with Allianz Global Investors, which he joined in 1984. He is co-lead portfolio manager of the Global Technology strategy. Mr. Chen previously worked for IBM and Intel Corporation, where he had responsibilities for semiconductor process engineering. Mr. Chen has a B.S. in materials science and engineering from Cornell University, an M.S. in materials science and engineering from Northwestern University and an M.B.A. from the University of California, Berkeley. He is a CFA charterholder.
Michael Seidenberg
Start Date
Tenure
Tenure Rank
Aug 01, 2018
3.83
3.8%
Mr. Seidenberg is a portfolio manager, an analyst and a director with Allianz Global Investors, which he joined in 2009. He is a member of the Global Technology team in the US. Before joining the firm, he worked at a number of hedge funds, including Pequot Capital and Andor Capital. Before that, Mr. Seidenberg covered a range of technology sectors at Citadel Investment Group. He has also worked in the software industry and at Oracle Corporation, and was previously at Roche Laboratories in pharmaceutical and biotechnology sales. Mr. Seidenberg has a B.S. in business administration from the University of Colorado and an M.B.A. with concentrations in finance and accounting from Columbia Business School.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.04 | 32.43 | 8.25 | 1.41 |