Fund Evaluator:
Allspring Precious Metals A (EKWAX)
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Best Performing in Equity Precious Metals Over the Last Year
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Fund Details
Allspring Precious Metals A Overview
Allspring Precious Metals A (EKWAX) is an actively managed Sector Equity Equity Precious Metals fund. Allspring Global Investments launched the fund in 1998.
The investment seeks long-term capital appreciation. The fund normally invests at least 80% of the fund's net assets in investments related to precious metals. It invests any amount of the fund's total assets in equity securities of foreign issuers, including ADRs and similar investments. The fund invests up to 40% of its total assets in emerging market equity securities; and up to 25% of its total assets, at the time of purchase, in debt securities linked to precious metals and common or preferred stocks of subsidiaries of the fund that invest directly or indirectly in precious metals and minerals. It is non-diversified.
About Allspring Precious Metals A (EKWAX)
There are 1 members of the management team with an average tenure of 19.25 years: Michael Bradshaw (2007). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and FTSE Gold Mines TR USD index with a weighting of 100%. Allspring Precious Metals A has 42 securities in its portfolio. The top 10 holdings constitute 51.2% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Allspring Precious Metals A is part of the Equity global asset class and is within the Sector Equity fund group. Allspring Precious Metals A has 79.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 16.4%. There is 79.1% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Allspring Precious Metals A has 1.6% of the portfolio in cash.
Assets Under Management
The fund has $644 million in total assets, which is above the $547 million average for the Equity Precious Metals category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
EKWAX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Allspring Precious Metals A expense ratio is high compared to funds in the Equity Precious Metals category. Allspring Precious Metals A has an expense ratio of 1.09%, which is 15% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Allspring Precious Metals A has a portfolio turnover rate of 8%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 58% for the Equity Precious Metals category.
Recently, in the month of August 2026, Allspring Precious Metals A returned 31.2%, which earned it a grade of C, as the Equity Precious Metals category had an average return of 31.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Allspring Precious Metals A has a trailing yield of 1.03%, which is below the 4.40% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Allspring Precious Metals A Grades
Year to date, the fund has returned 15.5%, 1.2 percentage points worse than the category, which translates into a grade of D. The fund has returned 61.1% over the past year (grade of C), 57.2% over the past three years (grade of A) and 30.1% per year over the past five years (grade of A) and 16.1% per year over the past 10 years (grade of A).
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EKWAX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| EKWAX Return (NAV) | 31.2% | 9.7% | 61.1% | 57.2% | 30.1% | 16.1% |
| EKWAX Grade | C | D | C | A | A | A |
| +/- Category | -0.2% | 0.0% | -1.0% | 4.9% | 5.1% | 1.4% |
| Equity Precious Metals Avg | 31.4% | 9.7% | 62.2% | 52.2% | 25.0% | 14.7% |
| EKWAX Tax Cost Ratio | na | na | 0.3% | 0.2% | 0.4% | 0.4% |
EKWAX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| EKWAX Return (NAV) | 15.5% | 163.5% | 21.3% | 8.8% | -7.7% | -11.1% | 24.4% | 40.3% | -12.8% | 9.7% | 45.5% |
| EKWAX Grade | D | B | A | A | A | D | F | C | A | B | F |
| +/- Category | -1.2% | 9.9% | 7.1% | 4.2% | 5.8% | -1.6% | -7.6% | -1.7% | 1.5% | 0.5% | -5.9% |
| Equity Precious Metals Avg | 16.7% | 153.6% | 14.1% | 4.6% | -13.5% | -9.4% | 32.0% | 42.1% | -14.4% | 9.1% | 51.4% |
| Risk Measures | |
| Standard Deviation: | 38.1% |
| Total Risk Index: | 3.13 - High |
| Category Risk Index: | 0.99 - Average |
| Category Risk Grade: | C (40% Rank) |
| Beta: | 0.73 |
| R-Squared: | 6% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 1.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1398 Mil |
| Fund Total Assets: | $ 645 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 8% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 19.3 years | |||
| Average Tenure: 19.3 years | |||
| Managers (Year): Bradshaw Michael (2007) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 42 |
| % in Top 10 Holdings: | 51.2% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 79.1% |
Portfolio Allocation |
|
| Domestic Stock: | 16.4% |
| Foreign Stock: | 79.1% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 2.9% |
| Cash: | 1.6% |
Purchase Information
| Fund Family: | Allspring Global Investments |
| Phone Number: | 800-222-8222 |
| Website: | www.allspringglobal.com |
| Status: | Open |
| Inception Date: | January 20, 1998 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 250 |
| True No-Load: | No |
| Front Load Maximum: | 5.75% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.09% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.28% |
| Share Class: | Allspring Precious Metals A |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
