Fund Evaluator:

Allspring Alternative Risk Pre R6 Overview

Allspring Alternative Risk Pre R6 (WRPRX) 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 R6 (WRPRX)

There are 2 members of the management team with an average tenure of 4.21 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 R6 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 R6 is part of the Alternative Strategies global asset class and is within the Alternative fund group. Allspring Alternative Risk Pre R6 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 R6 has 76.8% of the portfolio in cash.

Assets Under Management

The fund has $118 million in total assets, which is below the $539 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.

WRPRX 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 R6 expense ratio is above average compared to funds in the Multistrategy category. Allspring Alternative Risk Pre R6 has an expense ratio of 0.64%, which is 69% 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 R6. By way of comparison, the average portfolio turnover is 230% for the Multistrategy category.

Recently, in the month of August 2026, Allspring Alternative Risk Pre R6 returned -2.7%, which earned it a grade of F, as the Multistrategy category had an average return of 1.1%. 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 R6 has a trailing yield of 6.76%, which is above the 3.03% 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 R6 Grades

Year to date, the fund has returned 7.3%, 0.5 percentage points better than the category, which translates into a grade of B. The fund has returned 13.5% over the past year (grade of B), 6.9% over the past three years (grade of C) and 6.9% per year over the past five years (grade of A).

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