AINP

Income Plus ETF

Also available in a Mutual Fund
$24.82
NAV

+$0.04 / +0.17%
1-day change
$188.6M
Fund assets
5.17%
30-day SEC yield*
0.96%
Year-to-date NAV return
Data as of 2/4/2025
*As of 2/3/2025
Income Plus ETF
Fund overview
Flexible, opportunistic fixed income portfolio sourcing income from our best global ideas
The Allspring Income Plus ETF seeks total return consisting of a high level of current income and capital appreciation.

The team targets attractive income and risk-adjusted returns by dynamically allocating capital throughout the global fixed income universe while implementing the best ideas generated across the Allspring Global Investments Fixed Income Platform.

Key differentiators

  • Uses a six-month investment horizon to anticipate market inflection points
  • Allocates broadly across sectors and with a flexible target duration between zero and six years
  • Seeks diversified and unbiased sources of alpha in an effort to generate compelling returns over a market cycle

General facts

CUSIP

01989A100

Benchmark name

Bloomberg U.S. Aggregate Bond Index

Expense ratio

0.35%

(as of 12/2/2024)

Dividend frequency

Monthly

Inception date

12/4/2024

Exchange

NYSE Arca

Shares outstanding

7,600,000

Quick resources

Fact Sheet Daily Holdings

Noah Wise shares his thoughts on what makes this ETF stand out

Transcript

Noah Wise: At Allspring, we continually look for ways to provide our clients with greater choice. The offering of three long standing and successful active bond strategies, now available as ETFs, is a great example of this effort. In essence, the Allspring Income Plus ETF uses the same resources and the same research from the same seasoned Plus Fixed Income management team that exists in our mutual fund, which has been around for more than a decade. AINP is a new offering for investors to access our Income Plus strategy but delivering it in a vehicle known for its unique combination of benefits including cost and tax efficiencies, daily transparency, and intraday liquidity. So, what makes AINP stand out? First of all, the strategy targets attractive income and risk-adjusted returns by being truly global and diversified, dynamically allocating capital throughout the global fixed income universe. The fund is managed by our Plus Fixed Income team of 19 investment professionals with 25 years of average industry experience to effectively manage active multi-sector fixed income strategies. Beyond that, there are three key differentiators of AINP to consider. The first is a six-month outlook. We do this because we think it's better to identify turning points in the market by looking ahead a couple of quarters, rather than 3 to 5 years. We can invest with more conviction when we look around the corner and stay nimble, rather than trying to predict a whole market cycle. The second key differentiator is our use of multiple levers to drive portfolio returns. AINP uses tactical positioning along the curve with a flexible target duration between 0 and 6 years. It has broad flexibility to invest across global markets without required sector minimums. Our focus on using multiple levers means we don't need to overly emphasize any single lever or keep any static exposures. Our last differentiator is the use of an unbiased approach. We don't want to be anchored or have biases built in the portfolio. Rather, we want to move to where we see value in the market and not get stuck in one particular position. If you're seeking a globally diversified bond strategy with enhanced income potential, AINP may be right for you.

Performance

Average annual returns

Average annual returns

(as of 12/31/2024)
12/4/2024
1M
3M
YTD
1Y
3Y
5Y
10Y
Inception
Fund
NAV Market Price
-
-
-
-
-
-
-
-1.01
LoadApplied
-
-
-
-
-
-
-
-0.77
Expenses (as of 12/2/2024)
Expense Ratio
0.35 %

One-month, three-month and year-to-date returns are not annualized.

Figures quoted represent past performance, which is no guarantee of future results, and do not reflect taxes that a shareholder may pay on an investment in a fund. Investment return, principal value, and yields of an investment will fluctuate so that an investor's shares, when sold, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted and assumes the reinvestment of dividends and capital gains.

Calendar year

Calendar year

Data is unavailable at this time, please check back later.

Growth of $10,000

Growth of a $10,000 investment

(as of 12/31/2024)

This chart shows the value of a hypothetical $10,000 investment in the fund over the specified time period up to 10 years or since its inception (for funds lacking 10-year records). The result is compared with benchmarks, which may include a broad-based market index and a peer group average or index. Market indexes do not include expenses, which are deducted from fund returns as well as mutual fund averages and indexes.

Does not include sales charges and assumes reinvestment of dividends and capital gains. If sales charges were included, returns would be lower.

Performance and volatility metrics

Performance and volatility metrics

Data is unavailable at this time, please check back later.
Morningstar ratings and rankings

Morningstar ratings and rankings

Data is unavailable at this time, please check back later.

Prices, yields and distributions

Prices and trading

Closing price - 2/4/2025
Day high - 2/4/2025
Day low - 2/4/2025
Daily volume (Shares) - 2/4/2025
Premium/Discount - 2/4/2025
30-Day median bid/ask spread - 2/4/2025

Premium/Discount

Number of Days Traded At: 2024 Q1
2025 		Q2
2025 		Q3
2025 		Q4
2025
Premium 18 - - - -
NAV 0 - - - -
Discount 0 - - - -

Distribution summary
Dividends Monthly
Capital gains Annually

Yields

Yield Statistic Date
Distribution yield 2.18% 2/4/2025
30-day SEC yield 5.17% 2/3/2025
30-day unsubsidized SEC yield 5.17% 2/3/2025
Yield to maturity 6.43% 12/31/2024
Yield to worst 6.13% 12/31/2024

Distribution history

Distribution history Type Per share amount Reinvestment price
2025-01-27 Dividend $0.04605 $24.79
2025-01-26 Dividend $- $24.79
2025-01-25 Dividend $- $24.79
2024-12-27 Dividend $0.11696 $-
Download CSV

Composition

Portfolio statistics

Portfolio statistics

(as of 12/31/2024)
Fund Benchmark
Number of Holdings 269 13630
Effective Duration 3.98 5.96
Weighted Average Effective Maturity 6.25 Years 8.57 Years
AMT 0.00 -
Average Credit Rating BBB AA
Average Maturity 20.41 Years 12.49 Years
Credit Spread Duration 4.42 5.86

Placement within the Morningstar Fixed-Income Style Box™ is based on two variables: the vertical axis shows the credit quality of the long bonds owned and the horizontal axis shows interest rate sensitivity as measured by a bond's effective duration. For credit quality, Morningstar combines the credit rating information provided by the fund companies with an average default rate calculation to come up with a weighted average credit quality. The weighted average credit quality is currently a letter that roughly corresponds to the scale used by a leading NRSRO. Bond funds are assigned a style box placement of low, medium, or high based on their average credit quality. Funds with a low credit quality are those whose weighted average credit quality is determined to be less than BBB-, medium are those less than AA- but greater or equal to BBB-, and high are those with a weighted average credit quality of AA- or higher. When classifying a bond portfolio, Morningstar first maps the NRSRO credit ratings of the underlying holdings to their respective default rates (as determined by Morningstar’s analysis of actual historical default rates). Morningstar then averages these default rates to determine the average default rate for the entire bond fund. Finally, Morningstar maps this average default rate to its corresponding credit rating along a convex curve. For municipal bond funds, Morningstar also obtains from fund companies the average effective duration. In these cases static breakpoints are used. These breakpoints are as follows: (i) Limited: 4.5 years or less; (ii) Moderate: more than 4.5 years but less than 7 years; and (iii) Extensive: more than 7 years. In addition, for non-U.S. taxable and non-U.S. domiciled fixed-income funds, static duration breakpoints are used: (i) Limited: less than or equal to 3.5 years; (ii) Moderate: greater than 3.5 years and less than or equal to 6 years; and (iii) Extensive: greater than 6 years.

Credit quality

Credit quality

(as of 12/31/2024)
Type
Fund
Benchmark
AAA/Aaa
 5.42% 4.17%
AA/Aa
 48.13% 72.34%
A/A
 7.90% 11.20%
BBB/Baa
 33.91% 12.29%
BB/Ba
 16.18% -
B/B
 8.81% -
CCC/Caa and below
 1.96% -
Not rated
 2.83% -
Cash & equivalents
 -25.15% -

The ratings indicated are from Standard & Poor's, Fitch Ratings Ltd., and/or Moody's Investors Service. The percentages of the fund's portfolio with the ratings depicted in the chart are calculated based on total investments of the fund. If a security was rated by all three rating agencies, the middle rating was used. If rated by two of three rating agencies, the lower rating was used, and if rated by one of the agencies, that rating was used. Credit quality is subject to change and may have changed since the date specified. Percent total may not add to 100% due to rounding.

Maturity

Maturity

(as of 12/31/2024)
Maturity Range
Fund
0 - 1 year
3.61%
1 - 3 years
19.23%
3 - 5 years
37.15%
5 - 10 years
32.32%
10 - 20 years
2.95%
20+ years
4.75%

Maturity distribution is subject to change and may have changed since the date specified. Percent total may not add to 100% due to rounding.

Holdings

Top 10 holdings

(as of 12/31/2024)
Security
Fund
GINNIE MAE II POOL
7.65%
GNMA
5.25%
GNMA
5.17%
U.S. Treasuries
4.21%
FNMA POOL FS8795 FN 08/54 FIXED VAR
4.17%
Government of United Kingdom
3.20%
US TREASURY N/B 12/26 4.25
2.74%
U.S. Treasuries
1.72%
Gnma2 30YR Tba(reg C)
1.55%
U.S. Treasuries
1.34%
View All Holdings
Top 10 represents 36.98% of total net assets
Portfolio composition

Portfolio composition

(as of 12/31/2024)
Credit Assets
Allocation
Benchmark
U.S. treasuries
 10.40% 44.33%
ABS
 4.35% 0.43%
Agencies
 0.37% 1.17%
CLO
 0.47% -
CMBS
 2.99% 1.52%
CMO
 1.10% -
Corporate bonds
 44.37% 24.93%
Foreign government bonds
 9.22% -
MBS
 24.38% 25.13%
Sovereign
 2.35% 0.97%

Portfolio composition is subject to change and may have changed since the date specified. Percent total may not add to 100% due to rounding.

Our team
Meet the investment team

The team employs a sector specialist model whereby tenured investment professionals are supported by rigorous credit research to source opportunities across global fixed income markets.

View Team
Janet

Janet Rilling

Head of Plus Fixed Income
Christopher

Christopher Kauffman

Portfolio Manager
Michael

Michael Schueller

Portfolio Manager
Michal

Michal Stanczyk

Portfolio Manager
Noah

Noah Wise

Portfolio Manager

Documents

Literature Frequency
Fact Sheet Quarterly Download

Key risks

It is possible that an active trading market for ETF shares will not develop, which may hurt your ability to buy or sell shares, particularly in times of market stress. Shares may trade at a premium or discount to their net asset value in the secondary market. These variations may be greater when markets are volatile or subject to unusual conditions. There can be no assurance that active trading markets for the shares will develop or be maintained by market makers or authorized participants. Shares of the ETFs are not redeemable with the ETF other than in creation unit aggregations. Instead, investors must buy or sell the ETF shares in the secondary market at market price (not net asset value) through a broker-dealer. In doing so, the investor may incur brokerage commissions and may pay more than net asset value when buying and may receive less than net asset value when selling. All investing involves risk, including the possible loss of principal. Bond values fluctuate in response to the financial condition of individual issuers, general market and economic conditions, and changes in interest rates. Changes in market conditions and government policies may lead to periods of heightened volatility in the bond market and reduced liquidity for certain bonds held by the fund. In general, when interest rates rise, bond values fall and investors may lose principal value. Interest rate changes and their impact on the fund and its share price can be sudden and unpredictable. High yield securities and junk bonds have a greater risk of default and tend to be more volatile than higher-rated securities with similar maturities. Foreign investments are especially volatile and can rise or fall dramatically due to differences in the political and economic conditions of the host country. These risks are generally intensified in emerging markets. Consult the fund’s prospectus for additional information on these and other risks.

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The Morningstar Rating™ for funds, or star rating, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar risk-adjusted return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% 3-year rating for 36–59 months of total returns, 60% 5-year rating/40% 3-year rating for 60–119 months of total returns, and 50% 10-year rating/30% 5-year rating/20% 3-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent 3-year period actually has the greatest impact because it is included in all three rating periods. Past performance is no guarantee of future results.

Alpha measures the excess return of an investment vehicle, such as a mutual fund, relative to the return of its benchmark, given its level of risk.

Diversification does not ensure or guarantee better performance and cannot eliminate the risk of investment losses.