Fixed Income

Corporate Ladder (1–5 Years) SMA

Bloomberg U.S. Corporate 1-5 years Index
Benchmark name
1/31/2022
Inception date
Systematic Fixed Income and Custom SMA Team
Team
$17.5M
Strategy assets
Data as of 9/30/2024
Corporate Ladder (1-5 Years)
SMA overview
A systematic process of predict-decide-learn
The Corporate Ladder (1–5 Years) SMA aims to provide stable income and limited volatility of principal by investing in a diversified portfolio of high-quality, investment-grade corporate bonds with laddered maturities between 1 and 5 years.

A disciplined relative value approach seeks opportunities from changing market trends, pricing inefficiencies, and intensive credit analysis to provide stable income.

Key differentiators

  • Leverages a deeply resourced team of professionals for credit quality, sector selection, and geographic diversification
  • Provides access to institutional inventory and pricing to provide investors with lower-cost trading potential
  • Is managed with an ongoing monitor of portfolio holdings on a daily basis to ensure target ranges of portfolio characteristics

General facts

Current yield

3.82%

(as of 9/30/2024)

Average maturity

2.61 Years

(as of 9/30/2024)

Effective duration

2.38

(as of 9/30/2024)

Yield to worst

4.39

(as of 9/30/2024)

Average credit quality

A-

Quick resources

Fact Sheet

Performance

Average annual returns

Average annual returns

(as of 9/30/2024)
1/31/2022
1M
3M
YTD
1Y
3Y
5Y
10Y
Inception
Composite (Pure Gross)
1.09
3.72
5.47
9.35
-
-
-
2.38
Composite (Net)
0.96
3.33
4.28
7.71
-
-
-
0.85
Bloomberg U.S. Corporate 1-5 years Index
1.04
3.75
5.37
9.70
-
-
-
2.54

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

Performance is historical and does not guarantee future results. For more information, please refer to the GIPS composite report found in the documents section.

Calendar year

Calendar year

(as of 12/31/2023)
2023
Fund
6.17
Benchmark
6.20

Performance is historical and does not guarantee future results. For more information, please refer to the GIPS composite report found in the documents section.


Performance and volatility metrics

Performance and volatility metrics

Products must have at least a 36 month performance record before we show these metrics.

Composition

Portfolio statistics

Portfolio statistics

(as of 9/30/2024)
SMA Benchmark
Number of Holdings - 2865
AMT 0.00 -
Effective Duration 2.38 2.60
Weighted Average Effective Maturity 2.61 Years 2.96 Years
Credit quality

Credit quality

(as of 9/30/2024)
Type
SMA
Benchmark
AA/Aa
 4.81% 6.48%
A/A
 56.01% 46.72%
BBB/Baa
 38.07% 46.05%
Cash & equivalents
 1.11% -

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 9/30/2024)
Maturity Range
SMA
0 - 1 year
20.92%
1 - 3 years
39.94%
3 - 5 years
39.15%
5 - 10 years
0.00%
10 - 20 years
0.00%
20+ years
0.00%

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

Portfolio composition

Portfolio composition

(as of 9/30/2024)
Credit Assets
Allocation
Benchmark
Corporate bonds
 100.00% 100.00%

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

Documents

Literature Date
Fact Sheet 9/30/2024 Download
GIPS Report 9/30/2024 Download
Our team
Meet the investment team

The team philosophy is to leverage a continuous and repeatable process of predict-decide-learn to deliver differentiated investment solutions to clients.

View Team
Lidens

Lidens Cheng

Portfolio Manager
Tim

Tim Cui

Portfolio Manager
Contact Us

We look forward to helping you with your investment needs

 

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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. The use of derivatives may reduce returns and/or increase volatility. Certain investment strategies tend to increase the total risk of an investment (relative to the broader market). Bond laddering does not assure a profit or protect against loss in a declining market.

Allspring Managed Account Services (the firm) is a unit within Allspring Global Investments and is responsible for the management and administration of the Allspring Funds Management, LLC, retail separately managed account portfolios (wrap portfolios). Allspring Funds Management acts as a discretionary manager for separately managed accounts ("SMA") and as a non-discretionary model provider in a variety of managed account or wrap fee programs (“MA Programs”) sponsored by third party investment advisers, broker-dealers, or other financial services firms (a “Sponsor”). When acting as non-discretionary model provider, Allspring Funds Management responsibility is limited to providing non-discretionary investment recommendations (in the form of model portfolios) to the Sponsor. The Sponsor may use these recommendations in connection with its management of MA Program accounts. In these “model-based” programs, the Sponsor serves as the investment manager and maintains trade implementation responsibility.