Fund Evaluator:
Allspring Alternative Risk Pre Instl (WRPIX)
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Best Performing in Multistrategy Over the Last Year
| 35.9% | AQR Alternative Risk Premia N (QRPNX) |
| 21.4% | AQR Style Premia Alternative N (QSPNX) |
| 14.2% | Goldman Sachs Multi-Strategy Alts Inv (GIMMX) |
| 13.0% | AQR Diversifying Strategies N (QDSNX) |
| 12.7% | Blackstone Alternative Multi-Strategy Y (BXMYX) |
Fund Details
Allspring Alternative Risk Pre Instl Overview
Allspring Alternative Risk Pre Instl (WRPIX) is an actively managed Alternative Multistrategy fund. Allspring Global Investments launched the fund in 2019.
The investment seeks long-term capital appreciation. The fund seeks to provide investors with exposure to sources of excess return, known as alternative risk premia (ARP), which result from systematic risks and/or behavioral biases existing within the financial markets. The return patterns of ARP have historically displayed low correlations with one another and with traditional asset classes. In order to capture various ARP, the fund may establish both long and short positions in equities, fixed income, currencies and commodities directly or with derivatives.
About Allspring Alternative Risk Pre Instl (WRPIX)
There are 2 members of the management team with an average tenure of 4.13 years: Petros Bocray (2019), Elon Eznati (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and ICE BofA 0-3 M US Trsy Bill TR USD index with a weighting of 100%. Allspring Alternative Risk Pre Instl has 48 securities in its portfolio. The top 10 holdings constitute 98.4% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Allspring Alternative Risk Pre Instl is part of the Alternative Strategies global asset class and is within the Alternative fund group. Allspring Alternative Risk Pre Instl has -0.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is -0.0%. There is 0.1% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 16.2% (16.8% domestic bond, -0.6% foreign bond and 0.0% convertible bond). Allspring Alternative Risk Pre Instl has 76.8% of the portfolio in cash.
Assets Under Management
The fund has $143 million in total assets, which is below the $511 million average for the Multistrategy 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.
WRPIX 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 Alternative Risk Pre Instl expense ratio is above average compared to funds in the Multistrategy category. Allspring Alternative Risk Pre Instl has an expense ratio of 0.74%, which is 64% lower than its category average, making the fund expense ratio grade a A. 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. A portfolio turnover rate cannot be currently calculated for Allspring Alternative Risk Pre Instl. By way of comparison, the average portfolio turnover is 289% for the Multistrategy category.
Recently, in the month of July 2026, Allspring Alternative Risk Pre Instl returned 2.6%, which earned it a grade of A, as the Multistrategy category had an average return of 0.8%. 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 Alternative Risk Pre Instl has a trailing yield of 6.49%, which is above the 2.97% category average. The fund normally distributes its income 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 Alternative Risk Pre Instl Grades
Year to date, the fund has returned 10.3%, 5.1 percentage points better than the category, which translates into a grade of A. The fund has returned 19.8% over the past year (grade of A), 8.4% over the past three years (grade of B) and 7.3% per year over the past five years (grade of A).
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WRPIX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| WRPIX Return (NAV) | 2.6% | 0.8% | 19.8% | 8.4% | 7.3% | na |
| WRPIX Grade | A | F | A | B | A | na |
| +/- Category | 1.8% | -1.0% | 9.0% | 0.7% | 1.9% | na |
| Multistrategy Avg | 0.8% | 1.8% | 10.8% | 7.7% | 5.3% | 3.7% |
| WRPIX Tax Cost Ratio | na | na | 2.7% | 2.0% | 2.2% | na |
WRPIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| WRPIX Return (NAV) | 10.3% | 5.3% | 11.2% | -0.0% | 10.4% | 6.8% | -16.8% | na | na | na | na |
| WRPIX Grade | A | D | A | F | A | B | F | na | na | na | na |
| +/- Category | 5.1% | -2.5% | 5.1% | -6.5% | 10.8% | 0.6% | -18.8% | na | na | na | na |
| Multistrategy Avg | 5.3% | 7.8% | 6.1% | 6.4% | -0.4% | 6.2% | 2.0% | 7.0% | -4.9% | 5.0% | 2.0% |
| Risk Measures | |
| Standard Deviation: | 7.5% |
| Total Risk Index: | 0.61 - Below Average |
| Category Risk Index: | 1.34 - High |
| Category Risk Grade: | F (92% Rank) |
| Beta: | -0.12 |
| R-Squared: | 4% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 6.5% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | |
| Total Assets: | $121 Mil |
| Fund Total Assets: | $ 0 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 0% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 7.5 years | |||
| Average Tenure: 4.1 years | |||
| Managers (Year): Bocray Petros (2019), Eznati Elon (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 48 |
| % in Top 10 Holdings: | 98.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | -0.4% |
Portfolio Allocation |
|
| Domestic Stock: | -0.0% |
| Foreign Stock: | 0.1% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 16.8% |
| Foreign Bond: | -0.6% |
| Convertible Bond: | 0.0% |
| Other: | 6.9% |
| Cash: | 76.8% |
Purchase Information
| Fund Family: | Allspring Global Investments |
| Phone Number: | 800-222-8222 |
| Website: | www.allspringglobal.com |
| Status: | Closed |
| Inception Date: | January 29, 2019 |
| Min. Initial Purchase: | $1,000,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.00% |
Expenses and Fees | |
| Expense Ratio (%): | 0.74% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 2.05% |
| Share Class: | Allspring Alternative Risk Pre R6 |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
