Fund Evaluator:
Allspring Ultra Short-Term Income A2 (WUSNX)
Follow This Fund
Best Performing in Ultrashort Bond Over the Last Year
| 5.1% | Medlst Shrt Dur Inv (SEMRX) |
| 4.6% | T. Rowe Price Ultra Short-Term Bond Z (TRZWX) |
| 4.3% | Western Asset Ultra-Short Income A (ARMZX) |
| 4.2% | Touchstone Ultra Short Dur F/I Y (TSYYX) |
| 4.2% | PIMCO Short Asset Investment A (PAIAX) |
Fund Details
Allspring Ultra Short-Term Income A2 Overview
Allspring Ultra Short-Term Income A2 (WUSNX) is an actively managed Taxable Bond Ultrashort Bond fund. Allspring Global Investments launched the fund in 2020.
The investment seeks current income consistent with capital preservation. The fund invests at least 80% of its net assets in income-producing debt securities. It invests up to 25% of its total assets in U.S. dollar-denominated debt securities of foreign issuers and up to 15% of its total assets in below investment-grade debt securities. The portfolio holdings may include U.S. government obligations, corporate debt securities, bank loans and mortgage- and asset-backed debt securities.
About Allspring Ultra Short-Term Income A2 (WUSNX)
There are 5 members of the management team with an average tenure of 9.34 years: Christopher Kauffman (2010), Michael Schueller (2019), Noah Wise (2013), Michal Stanczyk (2021), Janet Rilling (2022). 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 Bloomberg Short-term Gov/Corp TR USD index with a weighting of 100%. Allspring Ultra Short-Term Income A2 has 697 securities in its portfolio. The top 10 holdings constitute 45.7% 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 Ultra Short-Term Income A2 is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Allspring Ultra Short-Term Income A2 has 15.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 74.9% (59.4% domestic bond, 15.5% foreign bond and 0.0% convertible bond). Allspring Ultra Short-Term Income A2 has 25.1% of the portfolio in cash.
Assets Under Management
The fund has $216 million in total assets, which is below the $969 million average for the Ultrashort Bond 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.
WUSNX 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 Ultra Short-Term Income A2 expense ratio is average compared to funds in the Ultrashort Bond category. Allspring Ultra Short-Term Income A2 has an expense ratio of 0.41%, which is 9% 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 Ultra Short-Term Income A2 has a portfolio turnover rate of 56%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 76% for the Ultrashort Bond category.
Recently, in the month of August 2026, Allspring Ultra Short-Term Income A2 returned 0.3%, which earned it a grade of B, as the Ultrashort Bond category had an average return of 0.3%. 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 Ultra Short-Term Income A2 has a trailing yield of 4.10%, which is below the 4.16% category average. The fund normally distributes its income monthly.
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 Ultra Short-Term Income A2 Grades
Year to date, the fund has returned 2.4%, 0.0 percentage points worse than the category, which translates into a grade of C. The fund has returned 3.9% over the past year (grade of C), 5.4% over the past three years (grade of B) and 3.8% per year over the past five years (grade of C) and 2.9% per year over the past 10 years (grade of B).
For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about Allspring Ultra Short-Term Income A2, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
WUSNX 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 |
|
| WUSNX Return (NAV) | 0.3% | 0.8% | 3.9% | 5.4% | 3.8% | 2.9% |
| WUSNX Grade | B | D | C | B | C | B |
| +/- Category | 0.0% | -0.1% | 0.0% | 0.3% | 0.1% | 0.2% |
| Ultrashort Bond Avg | 0.3% | 0.9% | 3.9% | 5.1% | 3.7% | 2.7% |
| WUSNX Tax Cost Ratio | na | na | 1.7% | 1.7% | 1.3% | na |
WUSNX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| WUSNX Return (NAV) | 2.4% | 5.1% | 6.2% | 6.4% | -0.6% | 0.2% | 2.3% | 3.8% | 1.7% | 1.5% | 1.7% |
| WUSNX Grade | C | B | B | A | D | B | A | A | C | C | B |
| +/- Category | -0.0% | 0.3% | 0.3% | 0.5% | -0.4% | 0.0% | 0.8% | 0.7% | 0.0% | -0.1% | 0.2% |
| Ultrashort Bond Avg | 2.4% | 4.9% | 5.9% | 5.9% | -0.2% | 0.1% | 1.5% | 3.1% | 1.7% | 1.6% | 1.5% |
| Risk Measures | |
| Standard Deviation: | 0.7% |
| Total Risk Index: | 0.06 - Low |
| Category Risk Index: | 1.22 - High |
| Category Risk Grade: | F (81% Rank) |
| Beta: | 0.08 |
| R-Squared: | 57% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 4.1% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | |
| Total Assets: | $1787 Mil |
| Fund Total Assets: | $ 217 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 56% |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 15.9 years | |||
| Average Tenure: 9.3 years | |||
| Managers (Year): Kauffman Christopher (2010), Wise Noah (2013), Schueller Michael (2019), Stanczyk Michal (2021), Rilling Janet (2022) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 697 |
| % in Top 10 Holdings: | 45.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 15.5% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 59.4% |
| Foreign Bond: | 15.5% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 25.1% |
Purchase Information
| Fund Family: | Allspring Global Investments |
| Phone Number: | 800-222-8222 |
| Website: | www.allspringglobal.com |
| Status: | Open |
| Inception Date: | May 29, 2020 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 250 |
| 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 (%): | 0.41% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 0.45% |
| Share Class: | Allspring Ultra Short-Term Income Inst |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
