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allspring:Dmultiassetfundsddiprofebruary_11829Member allspring:S000029101Member rr:RiskNotInsuredDepositoryInstitutionMember 2025-02-01 2025-02-01 allspring:Years iso4217:USD pure shares iso4217:USD shares 2024-09-30 false 0001081400 485BPOS 2025-02-01 -0.0330 0.2211 0.1441 -0.0555 0.2746 0.1266 0.1968 -0.1340 0.2215 0.2180 -0.0201 0.1507 0.0942 -0.0526 0.1614 0.0455 0.0795 -0.1582 0.1336 0.1149 0.0103 0.0750 0.1225 -0.0282 0.1995 0.1623 0.1579 -0.1700 0.1662 0.1468 2025-01-23 N-1A ALLSPRING FUNDS TRUST 2025-02-01 2025-02-01 Investment Objective <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">The Fund seeks long-term total return, consisting of capital appreciation and current income.</span></div> Fees and Expenses <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">These tables are intended to help you understand the various costs and expenses you will pay if you buy, hold and sell </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">shares of the Fund. </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">You may qualify for sales charge discounts if you and your family invest, or agree to invest in the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">future, at least  </span><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">$10,000</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> in the aggregate in specified classes of certain </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Allspring Funds.</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> More information about these </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">and other discounts is available from your financial professional and in “Share Class Features” and “Reductions and </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Waivers of Sales Charges” on pages  </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">31 and 32 of the Prospectus and “Additional Purchase and Redemption </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Information” on page  </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">92 of the Statement of Additional Information. Investors who purchase through certain </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">intermediaries may be subject to different sales charge discounts than those outlined shares in these sections. Please </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">see Appendix A on page </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">51  for further information.</span></div> You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least  $10,000 in the aggregate in specified classes of certain Allspring Funds. 10000 Shareholder Fees (fees paid directly from your investment) 0.0575 0 0 0 0 0.0100 0 0 <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.02pt;;">Investments of $1 million or more are not subject to a front-end sales charge but generally will be subject to a deferred sales </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.02pt;;">charge of 1.00% if redeemed within 18 months from the date of purchase.</span> Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)1 0.0061 0.0061 0.0061 0.0061 0.0000 0.0075 0.0000 0.0000 0.0047 0.0047 0.0040 0.0015 0.0108 0.0183 0.0101 0.0076 -0.0000 -0.0000 -0.0000 -0.0000 0.0108 0.0183 0.0101 0.0076 Expenses have been adjusted as necessary from amounts incurred during the Fund’s most recent fiscal year to reflect current fees and expenses. January 31, 2026 Example of Expenses <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">The example below is intended to help you compare the costs of investing in the Fund with the costs of investing in </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">other funds. The example assumes a $10,000 initial investment, 5% annual total return, and that fees and expenses </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">remain the same as in the tables above. To the extent that the Manager is waiving fees or reimbursing expenses, the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">example assumes that such waiver or reimbursement will only be in place through the date noted above. Although </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">your actual costs may be higher or lower, based on these assumptions, your costs would be:</span></div> Assuming you sold your shares, you would pay: 679 899 1136 1816 286 576 990 2148 103 322 558 1236 78 243 422 942 Assuming you held your shares, you would pay: 186 576 990 2148 Portfolio Turnover <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">30</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">%  of the average value of its portfolio.</span></div> 0.30 Principal Investment Strategies <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Under normal circumstances, we invest:</span></div><div> <table cellspacing="0" style="padding-top:6pt;margin-left:0%;" width="100%"> <tr> <td style="color:#4D4D4D;padding-top:0pt;width:2%;padding-bottom:0pt;padding-left:0pt;text-align:left;vertical-align:top;size:3;line-height:8pt;"> <div style="font-size:12pt;font-family:Arial, Helvetica, sans-serif;">■</div> </td> <td style="vertical-align:top;padding-bottom:0pt;padding-top:0pt;width:98%;padding-left:2pt;align:left;vertical-align:top;text-align:left;"> <div style="font-size:10pt;font-family:Arial, Helvetica, sans-serif;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Up to 90% of the Fund’s total assets in equity securities;</span></div> </td> </tr> </table></div><div> <table cellspacing="0" style="padding-top:1pt;margin-left:0%;" width="100%"> <tr> <td style="color:#4D4D4D;padding-top:0pt;width:2%;padding-bottom:0pt;padding-left:0pt;text-align:left;vertical-align:top;size:3;line-height:8pt;"> <div style="font-size:12pt;font-family:Arial, Helvetica, sans-serif;">■</div> </td> <td style="vertical-align:top;padding-bottom:0pt;padding-top:0pt;width:98%;padding-left:2pt;align:left;vertical-align:top;text-align:left;"> <div style="font-size:10pt;font-family:Arial, Helvetica, sans-serif;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Up to 30% of the Fund’s total assets in corporate debt securities that are below investment-grade; and</span></div> </td> </tr> </table></div><div> <table cellspacing="0" style="padding-top:1pt;margin-left:0%;" width="100%"> <tr> <td style="color:#4D4D4D;padding-top:0pt;width:2%;padding-bottom:0pt;padding-left:0pt;text-align:left;vertical-align:top;size:3;line-height:8pt;"> <div style="font-size:12pt;font-family:Arial, Helvetica, sans-serif;">■</div> </td> <td style="vertical-align:top;padding-bottom:0pt;padding-top:0pt;width:98%;padding-left:2pt;align:left;vertical-align:top;text-align:left;"> <div style="font-size:10pt;font-family:Arial, Helvetica, sans-serif;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Up to 25% of the Fund’s total assets in foreign equity and debt securities.</span></div> </td> </tr> </table></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">The Fund’s target allocation is as follows:</span></div><div> <table cellspacing="0" style="padding-top:6pt;margin-left:0%;" width="100%"> <tr> <td style="color:#4D4D4D;padding-top:0pt;width:2%;padding-bottom:0pt;padding-left:0pt;text-align:left;vertical-align:top;size:3;line-height:8pt;"> <div style="font-size:12pt;font-family:Arial, Helvetica, sans-serif;">■</div> </td> <td style="vertical-align:top;padding-bottom:0pt;padding-top:0pt;width:98%;padding-left:2pt;align:left;vertical-align:top;text-align:left;"> <div style="font-size:10pt;font-family:Arial, Helvetica, sans-serif;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">70% to 90% in equity securities; and</span></div> </td> </tr> </table></div><div> <table cellspacing="0" style="padding-top:1pt;margin-left:0%;" width="100%"> <tr> <td style="color:#4D4D4D;padding-top:0pt;width:2%;padding-bottom:0pt;padding-left:0pt;text-align:left;vertical-align:top;size:3;line-height:8pt;"> <div style="font-size:12pt;font-family:Arial, Helvetica, sans-serif;">■</div> </td> <td style="vertical-align:top;padding-bottom:0pt;padding-top:0pt;width:98%;padding-left:2pt;align:left;vertical-align:top;text-align:left;"> <div style="font-size:10pt;font-family:Arial, Helvetica, sans-serif;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">10% to 30% in debt securities.</span></div> </td> </tr> </table></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">The Fund invests in equity and fixed income securities with an emphasis on equity securities. Under normal </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">circumstances, we invest up to 90% of the Fund’s total assets in equity securities. For the equity portfolio, we seek out </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">companies that we believe have strong fundamental attributes and growth prospects with valuations that leave ample </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">room for capital appreciation. We select equity securities of companies of any size. We invest up to 30% of the Fund’s </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">total assets in corporate debt securities that are below investment-grade. For the debt portfolio, we invest principally in </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">below investment-grade debt securities (often called “high-yield” securities or “junk bonds”) of corporate issuers. As </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">part of our below investment-grade debt securities investment strategy, we will generally invest in securities that are </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">rated BB through CCC by S&amp;P, or an equivalent quality rating from another Nationally Recognized Statistical Ratings </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Organization, or as deemed by us to be of comparable quality. We also invest up to 25% of the Fund’s total assets in </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">foreign equity and debt securities. The target allocation range of the Fund’s investments are 70% to 90% in equity </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">securities and 10% to 30% in debt securities. The proportion of the Fund’s assets invested in debt and equity securities </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">will change based on the portfolio manager’s assessment of economic conditions and investment opportunities.</span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">We expect that the dollar-weighted average duration of its debt securities will normally be between two and six years, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">while the dollar-weighted average maturity is expected to be longer than the dollar-weighted average duration. </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">“Dollar-Weighted Average Effective Maturity” is a measure of the average time until the final payment of principal and </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">interest is due on fixed income securities in the Fund’s portfolio. “Dollar-Weighted Average Effective Duration” is an </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">aggregate measure of the sensitivity of a fund’s fixed income portfolio securities to changes in interest rates. As a </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">general matter, the price of a fixed income security with a longer effective duration will fluctuate more in response to </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">changes in interest rates than the price of a fixed income security with a shorter effective duration.</span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">We start our investment process by looking at macroeconomic factors, such as the pace of economic growth, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">employment conditions, corporate profits, inflation rates, monetary and fiscal policy, within the context of other even </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">broader factors, including the influence of international economic and financial conditions. This top-down, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">macroeconomic outlook helps us to determine the sectors and industries in which we believe the portfolio should </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">invest, and in what proportions. We then seek those industries within this macroeconomic environment which we find </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">attractive - industries that are either growing at or above the rate of economic growth (growth industries) or out of </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">favor industries with potentially improving outlooks (value industries.) Within those industries, we prefer companies </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">with sustainable competitive advantages and high barriers to entry, and we specifically seek companies with strong </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">management teams and financial flexibility. When we analyze potential securities for purchase, we look at the best </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">value in the range of securities issued by the company within that company’s capital structure, whether that may result </span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">in the selection of equity or debt securities. We also consider the Fund’s absolute level of risk in determining the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">allocation between equity and debt securities.</span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">We regularly review the investments of the portfolio and may sell a portfolio holding when it has achieved its valuation </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">target, there is deterioration in the underlying fundamentals of the business, or we have identified a more attractive </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">investment opportunity.</span></div> Principal Investment Risks <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">An investment in the Fund may lose money</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">,  is not a deposit of a bank or its affiliates, is not insured or guaranteed by </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">the Federal Deposit Insurance Corporation or any other governmental agency</span> <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">An investment in the Fund may lose money</span> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Market Risk.</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> The values of, and/or the income generated by, securities held by the Fund may decline due to general </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">market conditions or other factors, including those directly involving the issuers of such securities. Securities markets </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">are volatile and may decline significantly in response to adverse issuer, regulatory, political, or economic </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">developments. Different sectors of the market and different security types may react differently to such developments.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Equity Securities Risk.</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> The values of equity securities may experience periods of substantial price volatility and may </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">decline significantly over short time periods. In general, the values of equity securities are more volatile than those of </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">debt securities. Equity securities fluctuate in value and price in response to factors specific to the issuer of the security, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">such as management performance, financial condition, and market demand for the issuer’s products or services, as </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">well as factors unrelated to the fundamental condition of the issuer, including general market, economic and political </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">conditions. Different parts of a market, industry and sector may react differently to adverse issuer, market, regulatory, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">political, and economic developments.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Debt Securities Risk.</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> Debt securities are subject to credit risk and interest rate risk. Credit risk is the possibility that the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">issuer or guarantor of a debt security may be unable, or perceived to be unable or unwilling, to pay interest or repay </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">principal when they become due. In these instances, the value of an investment could decline and the Fund could lose </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">money. Credit risk increases as an issuer’s credit quality or financial strength declines. Interest rate risk is the possibility </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">that interest rates will change over time. When interest rates rise, the value of debt securities tends to fall. The longer </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">the terms of the debt securities held by a Fund, the more the Fund is subject to this risk. If interest rates decline, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">interest that the Fund is able to earn on its investments in debt securities may also decline, which could cause the Fund </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">to reduce the dividends it pays to shareholders, but the value of those securities may increase. Very low or negative </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">interest rates may magnify interest rate risk.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>High Yield Securities Risk</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">. High yield securities and unrated securities of similar credit quality (commonly known as </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">“junk bonds”) are considered speculative and have a much greater risk of default or of not returning principal and their </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">values tend to be more volatile than higher-rated securities with similar maturities.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Foreign Investment Risk.</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> Foreign investments may be subject to lower liquidity, greater price volatility and risks related </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">to adverse political, regulatory, market or economic developments. Foreign investments may involve exposure to </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">changes in foreign currency exchange rates and may be subject to higher withholding and other taxes.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Growth/Value Investing Risk.</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> Securities that exhibit growth or value characteristics tend to perform differently and </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">shift into and out of favor with investors depending on changes in market and economic sentiment and conditions.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Management Risk.</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> Investment decisions,  techniques, analyses or models implemented by a Fund’s manager or </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">sub-adviser in seeking to achieve the Fund’s investment objective may not produce expected returns, may cause the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Fund’s shares to lose value or may cause the Fund to underperform other funds with similar investment objectives.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Smaller Company Securities Risk.</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> Securities of companies with smaller market capitalizations tend to be more volatile </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">and less liquid than those of larger companies.</span></div> Performance <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">The following information provides some indication of the risks of investing in the Fund by showing changes in the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Fund’s performance from year to year.</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> The Fund’s average annual total returns are compared to the performance of one </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">or more indices. The Fund’s Regulatory Benchmark is a broad-based index that represents the overall securities </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">markets relative to the Fund’s asset category while the Fund’s Strategy Benchmark is most closely aligned with the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Fund’s investment universe based on its investment strategy.  </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Past performance before and after taxes is no guarantee </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">of future results.</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> Current month-end performance is available on the Fund’s website at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">www.allspringglobal.com</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">.</span></div> The following information provides some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year. Past performance before and after taxes is no guarantee of future results. www.allspringglobal.com Calendar Year Total Returns for Class A as of 12/31 each year(returns do not reflect sales charges and would be lower if they did) returns do not reflect sales charges and would be lower if they did <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Highest Quarter: </b></span><br/><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">June 30, 2020</span></div><div><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">+17.15%</span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Lowest Quarter: </b></span><br/><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">March 31, 2020</span></div><div><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">-18.63%</span></div> Highest Quarter: June 30, 2020 2020-06-30 0.1715 Lowest Quarter: March 31, 2020 2020-03-31 -0.1863 Average Annual Total Returns for the periods ended 12/31/2024 (returns reflect applicable sales charges) returns reflect applicable sales charges 1998-01-20 0.1479 0.1037 0.1029 1998-01-20 0.1334 0.0869 0.0840 1998-01-20 0.0966 0.0788 0.0779 1998-01-22 0.1990 0.1084 0.1029 2010-07-30 0.2189 0.1176 0.1104 1998-01-26 0.2220 0.1205 0.1132 0.2028 0.1177 0.1098 0.2381 0.1386 0.1255 <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">reflect the impact of state, local or foreign taxes. </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Actual after-tax returns depend on an investor’s tax situation and may </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">their Fund shares through tax-deferred arrangements, such as 401(k) Plans or Individual Retirement Accounts. </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">After-tax </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">returns are shown for only one class of shares.</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> After-tax returns for any other class will vary.</span></div> After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state, local or foreign taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) Plans or Individual Retirement Accounts. After-tax returns are shown for only one class of shares. Investment Objective <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">The Fund seeks long-term total return, consisting of current income and capital appreciation.</span></div> Fees and Expenses <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">These tables are intended to help you understand the various costs and expenses you will pay if you buy, hold and sell </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">shares of the Fund. </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">You may qualify for sales charge discounts if you and your family invest, or agree to invest in the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">future, at least  </span><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">$10,000</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> in the aggregate in specified classes of certain </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Allspring Funds.</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> More information about these </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">and other discounts is available from your financial professional and in “Share Class Features” and “Reductions and </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Waivers of Sales Charges” on pages  </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">31 and 32 of the Prospectus and “Additional Purchase and Redemption </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Information” on page  </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">92 of the Statement of Additional Information. Investors who purchase through certain </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">intermediaries may be subject to different sales charge discounts than those outlined shares in these sections. Please </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">see Appendix A on page </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">51  for further information.</span></div> You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least  $10,000 in the aggregate in specified classes of certain Allspring Funds. 10000 Shareholder Fees (fees paid directly from your investment) 0.0575 0 0 0 0 0 0.0100 0 0 0 <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.02pt;;">Investments of $1 million or more are not subject to a front-end sales charge but generally will be subject to a deferred sales </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.02pt;;">charge of 1.00% if redeemed within 18 months from the date of purchase.</span> Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)1 0.0055 0.0055 0.0055 0.0055 0.0055 0.0000 0.0075 0.0000 0.0000 0.0000 0.0053 0.0053 0.0011 0.0046 0.0021 0.0011 0.0011 0.0011 0.0011 0.0011 0.0119 0.0194 0.0077 0.0112 0.0087 -0.0024 -0.0024 -0.0024 -0.0024 -0.0024 0.0095 0.0170 0.0053 0.0088 0.0063 Expenses have been adjusted as necessary from amounts incurred during the Fund’s most recent fiscal year to reflect current fees and expenses. January 31, 2026 Example of Expenses <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">The example below is intended to help you compare the costs of investing in the Fund with the costs of investing in </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">other funds. The example assumes a $10,000 initial investment, 5% annual total return, and that fees and expenses </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">remain the same as in the tables above. To the extent that the Manager is waiving fees or reimbursing expenses, the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">example assumes that such waiver or reimbursement will only be in place through the date noted above. Although </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">your actual costs may be higher or lower, based on these assumptions, your costs would be:</span></div> Assuming you sold your shares, you would pay: 666 909 1170 1915 273 586 1025 2245 54 222 404 932 90 332 594 1342 64 253 459 1050 Assuming you held your shares, you would pay: 173 586 1025 2245 Portfolio Turnover <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">67</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">%  of the average value of its portfolio.</span></div> 0.67 Principal Investment Strategies <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Under normal circumstances, we invest:</span></div><div> <table cellspacing="0" style="padding-top:6pt;margin-left:0%;" width="100%"> <tr> <td style="color:#4D4D4D;padding-top:0pt;width:2%;padding-bottom:0pt;padding-left:0pt;text-align:left;vertical-align:top;size:3;line-height:8pt;"> <div style="font-size:12pt;font-family:Arial, Helvetica, sans-serif;">■</div> </td> <td style="vertical-align:top;padding-bottom:0pt;padding-top:0pt;width:98%;padding-left:2pt;align:left;vertical-align:top;text-align:left;"> <div style="font-size:10pt;font-family:Arial, Helvetica, sans-serif;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">At least 80% of the Fund’s total assets in a diversified portfolio of U.S. and non-U.S. income-producing securities of </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">any quality</span></div> </td> </tr> </table></div><div> <table cellspacing="0" style="padding-top:1pt;margin-left:0%;" width="100%"> <tr> <td style="color:#4D4D4D;padding-top:0pt;width:2%;padding-bottom:0pt;padding-left:0pt;text-align:left;vertical-align:top;size:3;line-height:8pt;"> <div style="font-size:12pt;font-family:Arial, Helvetica, sans-serif;">■</div> </td> <td style="vertical-align:top;padding-bottom:0pt;padding-top:0pt;width:98%;padding-left:2pt;align:left;vertical-align:top;text-align:left;"> <div style="font-size:10pt;font-family:Arial, Helvetica, sans-serif;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Up to 60% of the Fund’s total assets in equity securities issued by U.S. or foreign (including emerging markets) </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">issuers of any size</span></div> </td> </tr> </table></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">We employ a flexible, active allocation strategy to diversify the portfolio across various asset- and sub-asset classes in </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">an attempt to achieve the Fund’s objective over an economic cycle, consistent with an appropriate level of risk. We </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">start our investment process by looking at macroeconomic factors, such as the pace of economic growth, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">employment conditions, corporate profits, inflation rates, monetary and fiscal policy, within the context of other even </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">broader factors, including the influence of international economic and financial conditions. This top-down, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">macroeconomic outlook helps us determine the allocations to the various asset- and sub-asset classes. </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Implementation of these allocations could involve either actively- or passively-managed approaches. We may allocate a </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">maximum of 20% of the Fund’s assets in a manner intended to replicate the performance of indexes.</span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Within the Fund’s fixed income allocation, we invest in a diversified portfolio of U.S. and non-U.S. income-producing </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">securities of any quality, and we may invest without limit in below investment-grade debt securities (often called </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">“high-yield” securities or “junk bonds”). As part of our below investment-grade debt securities investment strategy, we </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">will generally invest in securities that are rated BB+ through CCC- by S&amp;P, or an equivalent quality rating from another </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Nationally Recognized Statistical Ratings Organization, or as deemed by us to be of comparable quality. We may invest </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">without limit in corporate bonds, government bonds, convertible bonds, loans, municipal bonds, and securitized </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">bonds. We may invest in the debt of U.S. or foreign (including emerging markets) issuers.</span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Within the Fund’s equity allocation, we generally invest in dividend paying common and preferred stocks, real estate </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">investment trusts and master limited partnerships. We may invest in equities issued by U.S. or foreign (including </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">emerging markets) issuers of any size.</span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">We may invest in derivatives, including listed equity and interest rate futures and swaps, either to manage the risk </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">profile of the portfolio or to efficiently gain exposure to specific areas of the market.</span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">We regularly review the portfolio allocation to ensure that it provides optimal balance of rewards (total return, including </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">income) and risks. We may alter the allocation to asset- and sub-asset classes available for investment if we find that </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">increasing or decreasing allocation to an asset- or sub-asset class would provide a better balance of expected risks and </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">rewards net of the transaction costs of implementing these changes. Within each asset- and sub-asset class, each </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">investment is regularly reviewed and may be sold when it has achieved its valuation target, there is deterioration in the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">underlying fundamentals of the business, we have identified a more attractive investment opportunity, or the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">investment does not facilitate the replication of an index’s return and risk characteristics.</span></div> Principal Investment Risks <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">An investment in the Fund may lose money</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">,  is not a deposit of a bank or its affiliates, is not insured or guaranteed by </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">the Federal Deposit Insurance Corporation or any other governmental agency</span> <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">An investment in the Fund may lose money</span> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Market Risk.</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> The values of, and/or the income generated by, securities held by the Fund may decline due to general </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">market conditions or other factors, including those directly involving the issuers of such securities. Securities markets </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">are volatile and may decline significantly in response to adverse issuer, regulatory, political, or economic </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">developments. Different sectors of the market and different security types may react differently to such developments.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Debt Securities Risk.</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> Debt securities are subject to credit risk and interest rate risk. Credit risk is the possibility that the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">issuer or guarantor of a debt security may be unable, or perceived to be unable or unwilling, to pay interest or repay </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">principal when they become due. In these instances, the value of an investment could decline and the Fund could lose </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">money. Credit risk increases as an issuer’s credit quality or financial strength declines. Interest rate risk is the possibility </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">that interest rates will change over time. When interest rates rise, the value of debt securities tends to fall. The longer </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">the terms of the debt securities held by a Fund, the more the Fund is subject to this risk. If interest rates decline, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">interest that the Fund is able to earn on its investments in debt securities may also decline, which could cause the Fund </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">to reduce the dividends it pays to shareholders, but the value of those securities may increase. Very low or negative </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">interest rates may magnify interest rate risk.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>High Yield Securities Risk</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">. High yield securities and unrated securities of similar credit quality (commonly known as </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">“junk bonds”) are considered speculative and have a much greater risk of default or of not returning principal and their </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">values tend to be more volatile than higher-rated securities with similar maturities.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Equity Securities Risk.</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> The values of equity securities may experience periods of substantial price volatility and may </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">decline significantly over short time periods. In general, the values of equity securities are more volatile than those of </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">debt securities. Equity securities fluctuate in value and price in response to factors specific to the issuer of the security, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">such as management performance, financial condition, and market demand for the issuer’s products or services, as </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">well as factors unrelated to the fundamental condition of the issuer, including general market, economic and political </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">conditions. Different parts of a market, industry and sector may react differently to adverse issuer, market, regulatory, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">political, and economic developments.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Foreign Investment Risk.</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> Foreign investments may be subject to lower liquidity, greater price volatility and risks related </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">to adverse political, regulatory, market or economic developments. Foreign investments may involve exposure to </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">changes in foreign currency exchange rates and may be subject to higher withholding and other taxes.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Derivatives Risk.</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> The use of derivatives, such as futures, options and swap agreements, can lead to losses, including </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">those magnified by leverage, particularly when derivatives are used to enhance return rather than mitigate risk. Certain </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">derivative instruments may be difficult to sell when the portfolio manager believes it would be appropriate to do so, or </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">the other party to a derivative contract may be unwilling or unable to fulfill its contractual obligations.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Emerging Markets Risk.</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> Emerging market securities typically present even greater exposure to the risks described </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">under “Foreign Investment Risk” and may be particularly sensitive to global economic conditions. Emerging market </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">securities are also typically less liquid than securities of developed countries and could be difficult to sell, particularly </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">during a market downturn.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Futures Contracts Risk.</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> A Fund that uses futures contracts, which are a type of derivative, is subject to the risk of loss </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">caused by unanticipated market movements. In addition, there may at times be an imperfect correlation between the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">movement in the prices of futures contracts and the value of their underlying instruments or indexes, and there may at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">times not be a liquid secondary market for certain futures contracts.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Growth/Value Investing Risk.</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> Securities that exhibit growth or value characteristics tend to perform differently and </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">shift into and out of favor with investors depending on changes in market and economic sentiment and conditions.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Index Tracking  Risk.</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> A Fund may not achieve exact correlation between the performance of the Fund and the index it </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">tracks due to factors such as transaction costs, shareholder purchases and redemptions and the timing of changes in </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">the composition of the index. The Fund may invest in only a representative sample of the securities that comprise the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">index and may hold securities not included in the index, subjecting the Fund to increased tracking risk. Maintaining </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">investments in securities regardless of market conditions or the investment merits of the securities in seeking to </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">replicate an index’s composition or performance could cause the Fund’s returns to be lower than if the Fund employed </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">an active strategy.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Loan Risk.</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> Loans may be unrated, less liquid and more difficult to value than traditional debt securities. The highly </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">leveraged capital structure of the borrowers in such transactions may make such loans especially vulnerable to adverse </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">changes in financial, economic or market conditions. A Fund may be unable to sell loans at a desired time or price. The </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Fund may also not be able to control amendments, waivers or the exercise of any remedies that a lender would have </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">under a direct loan and may assume liability as a lender.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Management Risk.</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> Investment decisions,  techniques, analyses or models implemented by a Fund’s manager or </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">sub-adviser in seeking to achieve the Fund’s investment objective may not produce expected returns, may cause the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Fund’s shares to lose value or may cause the Fund to underperform other funds with similar investment objectives.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Municipal Securities Risk.</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> Municipal securities may be fully or partially backed or enhanced by the taxing authority of </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">a local government, by the current or anticipated revenues from a specific project or specific assets, or by the credit of, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">or liquidity enhancement provided by, a private issuer. Various types of municipal securities are often related in such a </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">way that political, economic or business developments affecting one obligation could affect other municipal securities </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">held by a Fund.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Real Estate Securities Risk.</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> Real estate securities are subject to risks from decreases in the values of underlying real </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">estate assets and the income derived from such assets, changes in interest rates, issuer management, macroeconomic </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">developments, government regulation and social and economic trends. The value of certain real estate securities may </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">also be affected by local, regional and general market conditions.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Smaller Company Securities Risk.</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> Securities of companies with smaller market capitalizations tend to be more volatile </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">and less liquid than those of larger companies.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Swaps Risk</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">. Depending on their structure, swap agreements and options to enter into swap agreements (“swaptions”), </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">both of which are types of derivatives, may increase or decrease a Fund’s exposure to long- or short-term interest rates, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">foreign currency values, mortgage-backed securities, corporate borrowing rates, or credit events or other reference </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">points such as security prices or inflation rates.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>U.S. Government Obligations Risk.</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> U.S. Government obligations may be adversely impacted by changes in interest </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">rates, and securities issued or guaranteed by U.S. Government agencies or government-sponsored entities may not be </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">backed by the full faith and credit of the U.S. Government. U.S. Government obligations may be adversely affected by a </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">default by, or decline in the credit quality, of the U.S. Government.</span></div> Performance <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">The following information provides some indication of the risks of investing in the Fund by showing changes in the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Fund’s performance from year to year.</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> The Fund’s average annual total returns are compared to the performance of one </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">or more indices. The Fund’s Regulatory Benchmark is a broad-based index that represents the overall securities </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">markets relative to the Fund’s asset category while the Fund’s Strategy Benchmark is most closely aligned with the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Fund’s investment universe based on its investment strategy.  </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Past performance before and after taxes is no guarantee </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">of future results.</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> Current month-end performance is available on the Fund’s website at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">www.allspringglobal.com</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">.</span></div> The following information provides some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year. Past performance before and after taxes is no guarantee of future results. www.allspringglobal.com Calendar Year Total Returns for Class A as of 12/31 each year(returns do not reflect sales charges and would be lower if they did) returns do not reflect sales charges and would be lower if they did <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Highest Quarter: </b></span><br/><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">June 30, 2020</span></div><div><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">+10.40%</span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Lowest Quarter: </b></span><br/><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">March 31, 2020</span></div><div><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">-14.35%</span></div> Highest Quarter: June 30, 2020 2020-06-30 0.1040 Lowest Quarter: March 31, 2020 2020-03-31 -0.1435 Average Annual Total Returns for the periods ended 12/31/2024 (returns reflect applicable sales charges)1 returns reflect applicable sales charges 1987-04-14 0.0505 0.0250 0.0439 1987-04-14 0.0276 0.0084 0.0250 1987-04-14 0.0295 0.0120 0.0261 1993-02-01 0.0978 0.0300 0.0436 2018-07-31 0.1196 0.0422 0.0543 2010-07-30 0.1155 0.0384 0.0511 1997-01-13 0.1186 0.0408 0.0535 0.0932 0.0499 0.0637 0.0204 0.0006 0.0173 <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">reflect the impact of state, local or foreign taxes. </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Actual after-tax returns depend on an investor’s tax situation and may </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">their Fund shares through tax-deferred arrangements, such as 401(k) Plans or Individual Retirement Accounts.</span></div> After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state, local or foreign taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) Plans or Individual Retirement Accounts. Investment Objective <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">The Fund seeks long-term total return, consisting of capital appreciation and current income.</span></div> Fees and Expenses <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">These tables are intended to help you understand the various costs and expenses you will pay if you buy, hold and sell </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">shares of the Fund. </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">You may qualify for sales charge discounts if you and your family invest, or agree to invest in the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">future, at least  </span><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">$10,000</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> in the aggregate in specified classes of certain </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Allspring Funds.</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> More information about these </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">and other discounts is available from your financial professional and in “Share Class Features” and “Reductions and </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Waivers of Sales Charges” on pages  </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">31 and 32 of the Prospectus and “Additional Purchase and Redemption </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Information” on page  </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">92 of the Statement of Additional Information. Investors who purchase through certain </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">intermediaries may be subject to different sales charge discounts than those outlined shares in these sections. Please </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">see Appendix A on page </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">51  for further information.</span></div> You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least  $10,000 in the aggregate in specified classes of certain Allspring Funds. 10000 Shareholder Fees (fees paid directly from your investment) 0.0575 0 0 0 0 0.0100 0 0 <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.02pt;;">Investments of $1 million or more are not subject to a front-end sales charge but generally will be subject to a deferred sales </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:8.02pt;;">charge of 1.00% if redeemed within 18 months from the date of purchase.</span> Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)1 0.0061 0.0061 0.0061 0.0061 0.0000 0.0075 0.0000 0.0000 0.0050 0.0050 0.0043 0.0018 0.0111 0.0186 0.0104 0.0079 -0.0004 -0.0004 -0.0014 -0.0004 0.0107 0.0182 0.0090 0.0075 Expenses have been adjusted as necessary from amounts incurred during the Fund’s most recent fiscal year to reflect current fees and expenses. January 31, 2026 Example of Expenses <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">The example below is intended to help you compare the costs of investing in the Fund with the costs of investing in </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">other funds. The example assumes a $10,000 initial investment, 5% annual total return, and that fees and expenses </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">remain the same as in the tables above. To the extent that the Manager is waiving fees or reimbursing expenses, the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">example assumes that such waiver or reimbursement will only be in place through the date noted above. Although </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">your actual costs may be higher or lower, based on these assumptions, your costs would be:</span></div> Assuming you sold your shares, you would pay: 678 904 1148 1846 285 581 1002 2177 92 317 560 1258 77 248 435 974 Assuming you held your shares, you would pay: 185 581 1002 2177 Portfolio Turnover <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">12</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">%  of the average value of its portfolio.</span></div> 0.12 Principal Investment Strategies <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">The Fund invests in equity and fixed income securities with an emphasis on equity securities. Under normal </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">circumstances, we invest at least 80% of the Fund’s net assets in equity and fixed income securities designed to </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">replicate the holdings and weightings of the securities comprising the S&amp;P 500 Index and Bloomberg  U.S. Treasury </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Index. We seek to achieve the Fund’s investment objective by allocating at least 45% and up to 75% of its assets in </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">equity securities and at least 25% and up to 55% of its assets in fixed income securities.</span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">The Fund does not select individual securities for investment; rather, it buys substantially all of the securities of various </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">indexes to replicate such indices. The Fund invests the equity portion of its assets in common stocks to replicate the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">S&amp;P 500 Index, and invests the fixed income portion of its assets in U.S. Treasury notes and bonds to replicate the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Bloomberg  U.S. Treasury Index. We seek to maintain 95% or better performance correlation with the respective </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">indexes, before fees and expenses, regardless of market conditions.</span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">We employ both quantitative analysis and qualitative judgments in making tactical allocations among stocks and </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">bonds. Quantitative analysis involves the use of proprietary asset allocation models, which employ various valuation </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">techniques. Qualitative judgments are made based on assessments of a number of factors, including economic </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">conditions, corporate earnings, monetary policy, market valuations, investor sentiment, and technical market factors. </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">We use futures contracts to implement changes to target allocations and to make adjustments to the duration of the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Fund’s fixed income portion.</span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">The percentage of Fund assets that we invest in different asset classes may temporarily deviate from the Fund’s target </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">allocations due to changes in market values. We may use cash flows or effect transactions to re-establish the target </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">allocations.</span></div> Principal Investment Risks <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">An investment in the Fund may lose money</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">,  is not a deposit of a bank or its affiliates, is not insured or guaranteed by </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">the Federal Deposit Insurance Corporation or any other governmental agency</span> <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">An investment in the Fund may lose money</span> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Market Risk.</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> The values of, and/or the income generated by, securities held by the Fund may decline due to general </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">market conditions or other factors, including those directly involving the issuers of such securities. Securities markets </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">are volatile and may decline significantly in response to adverse issuer, regulatory, political, or economic </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">developments. Different sectors of the market and different security types may react differently to such developments.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Equity Securities Risk.</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> The values of equity securities may experience periods of substantial price volatility and may </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">decline significantly over short time periods. In general, the values of equity securities are more volatile than those of </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">debt securities. Equity securities fluctuate in value and price in response to factors specific to the issuer of the security, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">such as management performance, financial condition, and market demand for the issuer’s products or services, as </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">well as factors unrelated to the fundamental condition of the issuer, including general market, economic and political </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">conditions. Different parts of a market, industry and sector may react differently to adverse issuer, market, regulatory, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">political, and economic developments.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Debt Securities Risk.</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> Debt securities are subject to credit risk and interest rate risk. Credit risk is the possibility that the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">issuer or guarantor of a debt security may be unable, or perceived to be unable or unwilling, to pay interest or repay </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">principal when they become due. In these instances, the value of an investment could decline and the Fund could lose </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">money. Credit risk increases as an issuer’s credit quality or financial strength declines. Interest rate risk is the possibility </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">that interest rates will change over time. When interest rates rise, the value of debt securities tends to fall. The longer </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">the terms of the debt securities held by a Fund, the more the Fund is subject to this risk. If interest rates decline, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">interest that the Fund is able to earn on its investments in debt securities may also decline, which could cause the Fund </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">to reduce the dividends it pays to shareholders, but the value of those securities may increase. Very low or negative </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">interest rates may magnify interest rate risk.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Derivatives Risk.</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> The use of derivatives, such as futures, options and swap agreements, can lead to losses, including </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">those magnified by leverage, particularly when derivatives are used to enhance return rather than mitigate risk. Certain </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">derivative instruments may be difficult to sell when the portfolio manager believes it would be appropriate to do so, or </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">the other party to a derivative contract may be unwilling or unable to fulfill its contractual obligations.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Futures Contracts Risk.</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> A Fund that uses futures contracts, which are a type of derivative, is subject to the risk of loss </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">caused by unanticipated market movements. In addition, there may at times be an imperfect correlation between the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">movement in the prices of futures contracts and the value of their underlying instruments or indexes, and there may at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">times not be a liquid secondary market for certain futures contracts.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Index Tracking  Risk.</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> A Fund may not achieve exact correlation between the performance of the Fund and the index it </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">tracks due to factors such as transaction costs, shareholder purchases and redemptions and the timing of changes in </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">the composition of the index. The Fund may invest in only a representative sample of the securities that comprise the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">index and may hold securities not included in the index, subjecting the Fund to increased tracking risk. Maintaining </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">investments in securities regardless of market conditions or the investment merits of the securities in seeking to </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">replicate an index’s composition or performance could cause the Fund’s returns to be lower than if the Fund employed </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">an active strategy.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Management Risk.</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> Investment decisions,  techniques, analyses or models implemented by a Fund’s manager or </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">sub-adviser in seeking to achieve the Fund’s investment objective may not produce expected returns, may cause the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Fund’s shares to lose value or may cause the Fund to underperform other funds with similar investment objectives.</span></div> <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>U.S. Government Obligations Risk.</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> U.S. Government obligations may be adversely impacted by changes in interest </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">rates, and securities issued or guaranteed by U.S. Government agencies or government-sponsored entities may not be </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">backed by the full faith and credit of the U.S. Government. U.S. Government obligations may be adversely affected by a </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">default by, or decline in the credit quality, of the U.S. Government.</span></div> Performance <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">The following information provides some indication of the risks of investing in the Fund by showing changes in the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Fund’s performance from year to year.</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> The Fund’s average annual total returns are compared to the performance of one </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">or more indices. The Fund’s Regulatory Benchmark is a broad-based index that represents the overall securities </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">markets relative to the Fund’s asset category while the Fund’s Strategy Benchmark is most closely aligned with the </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Fund’s investment universe based on its investment strategy.  </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Past performance before and after taxes is no guarantee </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">of future results.</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"> Current month-end performance is available on the Fund’s website at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">www.allspringglobal.com</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">.</span></div> The following information provides some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year. Past performance before and after taxes is no guarantee of future results. www.allspringglobal.com Calendar Year Total Returns for Class A as of 12/31 each year(returns do not reflect sales charges and would be lower if they did) returns do not reflect sales charges and would be lower if they did <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Highest Quarter: </b></span><br/><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">June 30, 2020</span></div><div><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">+12.57%</span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;"><b>Lowest Quarter: </b></span><br/><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">June 30, 2022</span></div><div><span style="font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;">-11.53%</span></div> Highest Quarter: June 30, 2020 2020-06-30 0.1257 Lowest Quarter: June 30, 2022 2022-06-30 -0.1153 Average Annual Total Returns for the periods ended 12/31/2024 (returns reflect applicable sales charges)1 returns reflect applicable sales charges 1986-11-13 0.0808 0.0708 0.0718 1986-11-13 0.0494 0.0533 0.0590 1986-11-13 0.0664 0.0533 0.0554 1998-04-01 0.1287 0.0755 0.0717 1999-11-08 0.1492 0.0855 0.0802 2016-10-31 0.1507 0.0871 0.0815 0.1474 0.0858 0.0848 0.2381 0.1386 0.1255 0.0125 -0.0033 0.0135 <div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">reflect the impact of state, local or foreign taxes. </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">Actual after-tax returns depend on an investor’s tax situation and may </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:9.02pt;;">their Fund shares through tax-deferred arrangements, such as 401(k) Plans or Individual Retirement Accounts.</span></div> After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state, local or foreign taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) Plans or Individual Retirement Accounts. 1.Investments of $1 million or more are not subject to a front-end sales charge but generally will be subject to a deferred sales charge of 1.00% if redeemed within 18 months from the date of purchase. 1.Expenses have been adjusted as necessary from amounts incurred during the Fund’s most recent fiscal year to reflect current fees and expenses. 2.The Manager has contractually committed through January 31, 2026, to waive fees and/or reimburse expenses to the extent necessary to cap Total Annual Fund Operating Expenses After Fee Waiver at 1.11% for Class A, 1.86% for Class C, 1.05% for Administrator Class and  0.78% for Institutional Class. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses (if any), and extraordinary expenses are excluded from the expense cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees. 1.Source:  Allspring Funds Management, LLC. The Diversified Capital Builder Blended Index is composed 75% of the Russell 1000® Index and 25% of the ICE BofA U.S. Cash Pay High Yield Index. You cannot invest directly in an index. 1.Investments of $1 million or more are not subject to a front-end sales charge but generally will be subject to a deferred sales charge of 1.00% if redeemed within 18 months from the date of purchase. 1.Expenses have been adjusted as necessary from amounts incurred during the Fund’s most recent fiscal year to reflect current fees and expenses. 2.The Manager has contractually committed through January 31, 2026, to waive fees and/or reimburse expenses to the extent necessary to cap Total Annual Fund Operating Expenses After Fee Waiver at 0.84% for Class A, 1.59% for Class C, 0.42% for Class R6,  0.77% for Administrator Class and 0.52% for Institutional Class. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses (if any), and extraordinary expenses are excluded from the expense cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees. 1.Historical performance shown for the Class R6 shares prior to their inception reflects the performance of the Institutional Class shares, and includes the higher expenses applicable to the Institutional Class shares. If these expenses had not been included, returns for the Class R6 shares would be higher. 2.Source:  Allspring Funds Management, LLC. The Diversified Income Builder Blended Index is composed 60% of the ICE BofA U.S. Cash Pay High Yield Index, 25% of the Morgan Stanley Capital International (MSCI) All Country World Index (ACWI) and 15% of the Bloomberg U.S. Aggregate Bond Index. Prior to February 1, 2020, the Diversified Income Builder Blended Index was composed 65% of the ICE BofA U.S. Cash Pay High Yield Index, and 35% of the Russell 1000® Index. Prior to January 2, 2018, the Diversified Income Builder Blended Index was composed 75% of the ICE BofA U.S. Cash Pay High Yield Index, and 25% the Russell 1000® Index. You cannot invest directly in an index. 1.Investments of $1 million or more are not subject to a front-end sales charge but generally will be subject to a deferred sales charge of 1.00% if redeemed within 18 months from the date of purchase. 1.Expenses have been adjusted as necessary from amounts incurred during the Fund’s most recent fiscal year to reflect current fees and expenses. 2.The Manager has contractually committed through January 31, 2026, to waive fees and/or reimburse expenses to the extent necessary to cap Total Annual Fund Operating Expenses After Fee Waiver at 1.07% for Class A, 1.82% for Class C, 0.90% for Administrator Class and  0.75% for Institutional Class. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses (if any), and extraordinary expenses are excluded from the expense cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees. 1.Historical performance shown for the Institutional Class shares prior to their inception reflects the performance of the Administrator Class shares, and includes the higher expenses applicable to the Administrator Class shares. If these expenses had not been included, returns for the Institutional Class shares would be higher. 2.Source:  Allspring Funds Management, LLC. The Index Asset Allocation Blended Index is composed 60% of the S&P 500 Index and 40% of the Bloomberg U.S. Treasury Index. Prior to April 1, 2015, the Index Asset Allocation Blended Index was composed 60% of the S&P 500 Index and 40% of the Bloomberg U.S. Treasury 20+ Year Index. You cannot invest directly in an index.