Feb. 01, 2025 | |||||||||||
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| (Allspring Taxable Fixed Income Funds - Classes A, C, Administrator and Institutional) | (Allspring Income Plus Fund) | |||||||||||
| Investment Objective | |||||||||||
The Fund seeks total return, consisting of a high level of current income and capital appreciation.
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| Fees and Expenses | |||||||||||
These tables are intended to help you understand the various costs and expenses you will pay if you buy, hold and sell shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the aggregate in specified classes of certain Allspring Funds. More information about these and other discounts is available from your financial professional and in “Share Class Features” and “Reductions and Waivers of Sales Charges” on pages 17 and 18 of the Prospectus and “Additional Purchase and Redemption Information” on page 85 of the Statement of Additional Information. Investors who purchase through certain intermediaries may be subject to different sales charge discounts than those outlined shares in these sections. Please see Appendix A on page 32 for further information.
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| Shareholder Fees (fees paid directly from your investment) | |||||||||||
| Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)1 | [1] | ||||||||||
| Investments of $250,000 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. | |||||||||||
| Example of Expenses | |||||||||||
The example below is intended to help you compare the costs of investing in the Fund with the costs of investing in other funds. The example assumes a $10,000 initial investment, 5% annual total return, and that fees and expenses remain the same as in the tables above. To the extent that the Manager is waiving fees or reimbursing expenses, the example assumes that such waiver or reimbursement will only be in place through the date noted above. Although your actual costs may be higher or lower, based on these assumptions, your costs would be:
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| Assuming you sold your shares, you would pay: | |||||||||||
| Assuming you held your shares, you would pay: | |||||||||||
| Portfolio Turnover | |||||||||||
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 350% of the average value of its portfolio.
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| Principal Investment Strategies | |||||||||||
Under normal circumstances, we invest:
We invest principally in income-producing securities, including corporate, mortgage- and asset-backed securities, municipal securities, bank loans, convertible securities, preferred stocks, foreign corporate debt, foreign sovereign debt, collateralized debt obligations, commercial paper, variable and adjustable rate securities, inflation-protected debt securities, supranational entity securities and U.S. Government obligations. We may invest a significant portion of the Fund’s assets in mortgage-backed securities, including those issued by agencies and instrumentalities of the U.S. Government. We may also invest in below investment-grade debt securities (often called “high yield” securities or “junk bonds”) of any credit quality, including unrated securities that we deem to be of comparable quality, as well as securities that are in default at the time of purchase. We may invest in debt securities of foreign issuers, including emerging markets issuers, denominated in any currency. Emerging market countries generally are those countries defined as having an emerging or developing economy by the World Bank or its related organizations, or the United Nations or its authorities. The emerging market countries in which the Fund may invest currently include, but are not limited to, Argentina, Brazil, Chile, China, Colombia, Czech Republic, Egypt, Hungary, India, Indonesia, Korea, Malaysia, Mexico, Peru, the Philippines, Poland, Russia, South Africa, Thailand, Turkey and Uruguay. We may seek to add yield by having exposures to a variety of credits, mortgages, and higher yielding countries and currencies. We pursue the Fund’s investment objective by creating an integrated strategy that combines income-producing securities from a variety of sectors, countries and issuers. Portfolio managers meet regularly to review and assess the overall portfolio risk level, the allocation of assets among the different sectors, and the role played by each sector in the portfolio. The investment process for both asset allocation and security selection focuses on the value-driven measures that are used by the portfolio managers when managing sector assignments such as high yield bonds, global bonds, emerging markets, investment-grade bonds, and mortgages. We seek to add return by allocating assets to sectors that we believe offer better opportunities and by using rigorous credit research to identify attractive individual securities. The portfolio managers utilize proprietary tools when measuring opportunities and risks associated with country, currency, credit and mortgage exposures. As part of our investment process, an assessment of relevant factors, which may include but are not limited to financial data and metrics, pricing information, issue characteristics and issue structure are considered alongside environmental, social and governance (“ESG”) factors that are deemed to have material business and/or financial risk. The ESG factors utilized in the fund’s investment process may change over time and some factors may not be relevant with respect to all issuers that are eligible fund investments. Further, ESG factors may or may not be determinative in the security selection process. Securities are sold and allocations to various sectors are reduced when prices rise significantly above our estimates of underlying value, when changes in the financial environment indicate that securities or sectors at current prices no longer offer attractive risk-adjusted returns, or due to cash flow needs. While we may purchase securities of any maturity or duration, under normal circumstances, we expect the Fund’s overall dollar-weighted average effective duration to be between 0 and 6 years. “Dollar-weighted average effective duration” is an aggregate measure of the sensitivity of a fund’s fixed income portfolio securities to changes in interest rates. As a general matter, the price of a fixed income security with a longer effective duration will fluctuate more in response to changes in interest rates than the price of a fixed income security with a shorter effective duration. We may use futures to manage duration exposure. There are no fixed weights for the Fund’s allocation across various sectors or markets. The pursuit of the Fund’s investment objective of total return, a component of which consists of a high level of current income, however, implies that the Fund will normally seek to have significant holdings of securities offering higher yields relative to U.S. Treasuries. In addition to currency exposures stemming from our management of non-dollar denominated bonds, including the hedging and cross-hedging of currency exposures associated with these securities, we can manage currency as a separate asset class. We may purchase a foreign currency on a spot or forward basis in order to benefit from potential appreciation of such currency relative to the U.S. dollar or to other currencies. The Fund may enter into foreign currency exchange contracts to gain or hedge currency exposure or control risk. The Fund may engage in credit default swap indicies or other derivatives in order manage risk or enhance return.
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| Principal Investment Risks | |||||||||||
| Performance | |||||||||||
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. The Fund’s average annual total returns are compared to the performance of one or more indices. The Fund’s Regulatory Benchmark is a broad-based index that represents the overall securities markets relative to the Fund’s asset category while the Fund’s Strategy Benchmark is most closely aligned with the Fund’s investment universe based on its investment strategy. Past performance before and after taxes is no guarantee of future results. Current month-end performance is available on the Fund’s website at www.allspringglobal.com.
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Highest Quarter: June 30, 2020 +9.21% Lowest Quarter: March 31, 2020 -8.65%
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| Average Annual Total Returns for the periods ended 12/31/2024 (returns reflect applicable sales charges) | |||||||||||
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. After-tax returns for any other class will vary.
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| (Allspring Taxable Fixed Income Funds - Classes A, C, Administrator and Institutional) | (Allspring Income Plus Fund) | Risk Lose Money [Member] | |||||||||||
| An investment in the Fund may lose money | |||||||||||
| (Allspring Taxable Fixed Income Funds - Classes A, C, Administrator and Institutional) | (Allspring Income Plus Fund) | Risk Not Insured Depository Institution [Member] | |||||||||||
| An investment in the Fund may lose money, is not a deposit of a bank or its affiliates, is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency | |||||||||||
| (Allspring Taxable Fixed Income Funds - Classes A, C, Administrator and Institutional) | (Allspring Income Plus Fund) | Market Risk [Member] | |||||||||||
Market Risk. The values of, and/or the income generated by, securities held by the Fund may decline due to general market conditions or other factors, including those directly involving the issuers of such securities. Securities markets are volatile and may decline significantly in response to adverse issuer, regulatory, political, or economic developments. Different sectors of the market and different security types may react differently to such developments.
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| (Allspring Taxable Fixed Income Funds - Classes A, C, Administrator and Institutional) | (Allspring Income Plus Fund) | Debt Securities Risk [Member] | |||||||||||
Debt Securities Risk. Debt securities are subject to credit risk and interest rate risk. Credit risk is the possibility that the issuer or guarantor of a debt security may be unable, or perceived to be unable or unwilling, to pay interest or repay principal when they become due. In these instances, the value of an investment could decline and the Fund could lose money. Credit risk increases as an issuer’s credit quality or financial strength declines. Interest rate risk is the possibility that interest rates will change over time. When interest rates rise, the value of debt securities tends to fall. The longer the terms of the debt securities held by a Fund, the more the Fund is subject to this risk. If interest rates decline, interest that the Fund is able to earn on its investments in debt securities may also decline, which could cause the Fund to reduce the dividends it pays to shareholders, but the value of those securities may increase. Very low or negative interest rates may magnify interest rate risk.
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| (Allspring Taxable Fixed Income Funds - Classes A, C, Administrator and Institutional) | (Allspring Income Plus Fund) | Foreign Investment Risk [Member] | |||||||||||
Foreign Investment Risk. Foreign investments may be subject to lower liquidity, greater price volatility and risks related to adverse political, regulatory, market or economic developments. Foreign investments may involve exposure to changes in foreign currency exchange rates and may be subject to higher withholding and other taxes.
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| (Allspring Taxable Fixed Income Funds - Classes A, C, Administrator and Institutional) | (Allspring Income Plus Fund) | High Yield Securities Risk [Member] | |||||||||||
High Yield Securities Risk. High yield securities and unrated securities of similar credit quality (commonly known as “junk bonds”) are considered speculative and have a much greater risk of default or of not returning principal and their values tend to be more volatile than higher-rated securities with similar maturities.
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| (Allspring Taxable Fixed Income Funds - Classes A, C, Administrator and Institutional) | (Allspring Income Plus Fund) | Convertible Securities Risk [Member] | |||||||||||
Convertible Securities Risk. A convertible security has characteristics of both equity and debt securities and, as a result, is exposed to risks that are typically associated with both types of securities. The market value of a convertible security tends to decline as interest rates increase but also tends to reflect changes in the market price of the common stock of the issuing company.
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| (Allspring Taxable Fixed Income Funds - Classes A, C, Administrator and Institutional) | (Allspring Income Plus Fund) | Derivatives Risk [Member] | |||||||||||
Derivatives Risk. The use of derivatives, such as futures, options and swap agreements, can lead to losses, including those magnified by leverage, particularly when derivatives are used to enhance return rather than mitigate risk. Certain derivative instruments may be difficult to sell when the portfolio manager believes it would be appropriate to do so, or the other party to a derivative contract may be unwilling or unable to fulfill its contractual obligations.
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| (Allspring Taxable Fixed Income Funds - Classes A, C, Administrator and Institutional) | (Allspring Income Plus Fund) | Emerging Markets Risk [Member] | |||||||||||
Emerging Markets Risk. Emerging market securities typically present even greater exposure to the risks described under “Foreign Investment Risk” and may be particularly sensitive to global economic conditions. Emerging market securities are also typically less liquid than securities of developed countries and could be difficult to sell, particularly during a market downturn.
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| (Allspring Taxable Fixed Income Funds - Classes A, C, Administrator and Institutional) | (Allspring Income Plus Fund) | Equity Securities Risk [Member] | |||||||||||
Equity Securities Risk. The values of equity securities may experience periods of substantial price volatility and may decline significantly over short time periods. In general, the values of equity securities are more volatile than those of debt securities. Equity securities fluctuate in value and price in response to factors specific to the issuer of the security, such as management performance, financial condition, and market demand for the issuer’s products or services, as well as factors unrelated to the fundamental condition of the issuer, including general market, economic and political conditions. Different parts of a market, industry and sector may react differently to adverse issuer, market, regulatory, political, and economic developments.
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| (Allspring Taxable Fixed Income Funds - Classes A, C, Administrator and Institutional) | (Allspring Income Plus Fund) | Foreign Currency Contracts Risk [Member] | |||||||||||
Foreign Currency Contracts Risk. A Fund that enters into forwards or other foreign currency contracts, which are a type of derivative, is subject to the risk that the portfolio manager may be incorrect in his or her judgment of future exchange rate changes.
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| (Allspring Taxable Fixed Income Funds - Classes A, C, Administrator and Institutional) | (Allspring Income Plus Fund) | Futures Contracts Risk [Member] | |||||||||||
Futures Contracts Risk. A Fund that uses futures contracts, which are a type of derivative, is subject to the risk of loss caused by unanticipated market movements. In addition, there may at times be an imperfect correlation between the movement in the prices of futures contracts and the value of their underlying instruments or indexes, and there may at times not be a liquid secondary market for certain futures contracts.
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| (Allspring Taxable Fixed Income Funds - Classes A, C, Administrator and Institutional) | (Allspring Income Plus Fund) | Geographic Emphasis Risk [Member] | |||||||||||
Geographic Emphasis Risk. A Fund that invests a significant portion of its assets in one country or geographic region will be more vulnerable than a fund that invests its assets more broadly to the economic, financial, political or other developments affecting that country or region. Such developments may have a significant impact on the Fund’s investment performance causing such performance to be more volatile than the investment performance of a more geographically diversified fund.
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| (Allspring Taxable Fixed Income Funds - Classes A, C, Administrator and Institutional) | (Allspring Income Plus Fund) | Loan Risk [Member] | |||||||||||
Loan Risk. Loans may be unrated, less liquid and more difficult to value than traditional debt securities. The highly leveraged capital structure of the borrowers in such transactions may make such loans especially vulnerable to adverse changes in financial, economic or market conditions. A Fund may be unable to sell loans at a desired time or price. The Fund may also not be able to control amendments, waivers or the exercise of any remedies that a lender would have under a direct loan and may assume liability as a lender.
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| (Allspring Taxable Fixed Income Funds - Classes A, C, Administrator and Institutional) | (Allspring Income Plus Fund) | Management Risk [Member] | |||||||||||
Management Risk. Investment decisions, techniques, analyses or models implemented by a Fund’s manager or sub-adviser in seeking to achieve the Fund’s investment objective may not produce expected returns, may cause the Fund’s shares to lose value or may cause the Fund to underperform other funds with similar investment objectives.
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| (Allspring Taxable Fixed Income Funds - Classes A, C, Administrator and Institutional) | (Allspring Income Plus Fund) | Mortgage- and Asset-Backed Securities Risk [Member] | |||||||||||
Mortgage- and Asset-Backed Securities Risk. Mortgage- and asset-backed securities may decline in value and become less liquid when defaults on the underlying mortgages or assets occur and may exhibit additional volatility in periods of rising interest rates. Rising interest rates tend to extend the duration of these securities, making them more sensitive to changes in interest rates than instruments with fixed payment schedules. When interest rates decline or are low, the prepayment of mortgages or assets underlying such securities can reduce a Fund’s returns.
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| (Allspring Taxable Fixed Income Funds - Classes A, C, Administrator and Institutional) | (Allspring Income Plus Fund) | Municipal Securities Risk [Member] | |||||||||||
Municipal Securities Risk. Municipal securities may be fully or partially backed or enhanced by the taxing authority of a local government, by the current or anticipated revenues from a specific project or specific assets, or by the credit of, or liquidity enhancement provided by, a private issuer. Various types of municipal securities are often related in such a way that political, economic or business developments affecting one obligation could affect other municipal securities held by a Fund.
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| (Allspring Taxable Fixed Income Funds - Classes A, C, Administrator and Institutional) | (Allspring Income Plus Fund) | Swaps Risk [Member] | |||||||||||
Swaps Risk. Depending on their structure, swap agreements and options to enter into swap agreements (“swaptions”), both of which are types of derivatives, may increase or decrease a Fund’s exposure to long- or short-term interest rates, foreign currency values, mortgage-backed securities, corporate borrowing rates, or credit events or other reference points such as security prices or inflation rates.
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| (Allspring Taxable Fixed Income Funds - Classes A, C, Administrator and Institutional) | (Allspring Income Plus Fund) | U.S. Government Obligations Risk [Member] | |||||||||||
U.S. Government Obligations Risk. U.S. Government obligations may be adversely impacted by changes in interest rates, and securities issued or guaranteed by U.S. Government agencies or government-sponsored entities may not be backed by the full faith and credit of the U.S. Government. U.S. Government obligations may be adversely affected by a default by, or decline in the credit quality, of the U.S. Government.
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| (Allspring Taxable Fixed Income Funds - Classes A, C, Administrator and Institutional) | (Allspring Income Plus Fund) | Class A | |||||||||||
| 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) | |||||||||||
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