Fixed Income

CoreBuilder® Short Plus SMA

Bloomberg U.S. 1-3 Year Government/Credit Bond Index
Benchmark name
1/1/2015
Inception date
Plus Fixed Income Team
Team
$1.0M
Strategy assets
Data as of 6/30/2025
CoreBuilder Short Plus
SMA overview
A flexible strategy allocating capital across a broad spectrum of global short-term sectors
The CoreBuilder® Short Plus SMA aims to deliver total returns in excess of the benchmark by using a risk-conscious, relative value approach to pursue upside potential, produce income for shareholders, and manage downside risk.

The flexibility to allocate capital across a broad spectrum of global short-term sectors provides investors the opportunity to generate attractive income and risk-adjusted returns.

Key differentiators

  • Uses a six-month investment horizon to anticipate market inflection points
  • Allocates up to 25% in Plus sectors and a minimum of 75% to benchmark sectors
  • Seeks diversified and unbiased sources of alpha to generate compelling returns over market cycle
  • Innovative portfolio structure of the CoreBuilder, captures the benefits of both mutual fund and SMA investing into one hybrid vehicle

General facts

Current yield

4.83%

(as of 6/30/2025)

Average maturity

(as of 6/30/2025)

Effective duration

2.07

(as of 6/30/2025)

Yield to worst

4.82

(as of 6/30/2025)

Average credit quality

A+

Performance

Average annual returns

Average annual returns

(as of 6/30/2025)
1/1/2015
1M
3M
YTD
1Y
3Y
5Y
10Y
Inception
Composite (Pure Gross)
0.79
1.57
3.33
6.99
5.25
2.98
3.01
2.98
Composite (Net)
0.67
1.19
2.55
5.32
3.63
1.42
1.45
1.43
Bloomberg U.S. 1-3 Year Government/Credit Bond Index
0.64
1.27
2.92
5.94
3.75
1.58
1.84
1.83

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

Data is unavailable at this time, please check back later.
Performance and volatility metrics

Performance and volatility metrics

(as of 6/30/2025)
3 Year 5 Year 10 Year
Alpha 0.00 0.00 0.00
Beta 0.00 0.00 0.00
Sharpe Ratio 0.00 0.00 0.00
Standard Deviation 0.00 0.00 0.00
R2 0.00 0.00 0.00
Information Ratio 0.00 0.00 0.00
Upside Market Capture Ratio 0.00 0.00 0.00
Downside Market Capture Ratio 0.00 0.00 0.00
Tracking Error 0.00 0.00 0.00
Correlation 0.00 0.00 0.00

Composition

Portfolio statistics

Portfolio statistics

(as of 6/30/2025)
SMA Benchmark
AMT 0.00 -
Effective Duration 2.07 1.88
Weighted Average Effective Maturity 2.84 Years 2.01 Years
Average Current Yield 4.83 3.24
Yield to Worst 4.82 3.92

Portfolio holdings, credit quality, and characteristics are based on a representative account. CoreBuilder Shares are a series of investment options within the separately managed accounts advised or subadvised by Allspring Funds Management, LLC. The shares are fee-waived mutual funds that enable certain separately managed account investors to achieve greater diversification than smaller managed accounts might otherwise achieve. Allspring Global Investments, LLC, provides the sub advisory services for the Allspring Funds Management retail managed account product.

Credit quality

Credit quality

(as of 6/30/2025)
Type
SMA
Benchmark
AAA/Aaa
 16.68% 3.10%
AA/Aa
 31.12% 75.37%
A/A
 27.79% 11.59%
BBB/Baa
 13.64% 9.94%
BB/Ba
 3.99% -
B/B
 0.45% -
Not rated
 5.96% -
Cash & equivalents
 0.41% -
Derivatives
 -0.05% -

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 6/30/2025)
Maturity Range
SMA
0 - 1 year
16.88%
1 - 3 years
36.75%
3 - 5 years
30.48%
5 - 10 years
15.54%
20+ years
0.00%
Derivatives
-0.05%

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 6/30/2025)
Credit Assets
Allocation
Benchmark
ABS
 11.66% -
CLO
 1.52% -
CMBS
 5.99% -
CMO
 6.77% -
Corporate bonds
 42.12% 23.32%
Derivatives
 -0.05% -
MBS
 12.75% -
Sovereign
 0.34% 0.42%
Supranational
 0.37% 2.11%
Treasuries
 18.54% 70.95%

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
Christopher

Christopher Kauffman

Portfolio Manager
Janet

Janet Rilling

Head of Plus Fixed Income
Michael

Michael Schueller

Portfolio Manager
Michal

Michal Stanczyk

Portfolio Manager
Noah

Noah Wise

Portfolio Manager
Contact Us

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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.