EAAIX

Asset Allocation Fund

$15.69
NAV
-$0.03 / -0.19%
$1,529.7M
Fund assets
13.12%
Year-to-date return
7/29/1996
Fund inception date
Data as of 11/13/2024
Fund overview
Diverse exposure, strategic portfolio allocations
The Asset Allocation Fund seeks an appropriate balance of risk and expected return in a multi-asset, multi-manager structure.

With a 65% equity/35% fixed income neutral allocation, the fund invests in affiliated mutual funds that provide diversified exposure and uses futures contracts and other instruments to implement portfolio tilts.

Key differentiators

  • Uses proprietary risk-based portfolio construction techniques that are transparent, diversified, efficient, and robust
  • Leverages a global team of long-tenured tactical asset allocation managers with a proven track record of adding value for clients since 1980
  • Implements innovative risk management strategies that have helped preserve capital while considering cost, consistency, and reactivity

General facts

Morningstar category

Moderate Allocation

Lipper category

Mixed-Asset Target Alloc Growth Funds

Ticker

EAAIX

CUSIP

94987W745

Fund number

3169

Benchmark

Asset Allocation Blended Index

Gross expense ratio

0.87%

(as of 9/1/2024)

Net expense ratio

0.80%

(as of 9/1/2024)

Dividend frequency

Annually

Quick resources

Morningstar Rating™

Out of 682 funds, Moderate Allocation As of 9/30/2024


An investment’s Overall Morningstar Rating™, based on its risk-adjusted return, is a weighted average of its applicable 3-, 5-, and 10-year Ratings.

Performance

Average annual returns

Average annual returns

(as of 9/30/2024)
7/29/1996
1M
3M
YTD
1Y
3Y
5Y
10Y
Inception
Fund
1.55
5.37
13.27
24.09
4.62
8.41
5.84
7.30
Asset Allocation Blended Index
1.94
6.23
13.54
24.64
5.08
8.64
7.24
7.03
Russell 3000® Index
2.07
6.23
20.63
35.19
10.29
15.26
12.83
10.11
Bloomberg U.S. Aggregate Bond Index
1.34
5.20
4.45
11.57
-1.39
0.33
1.84
4.41
Expenses (as of 9/1/2024)
Gross Expense Ratio
0.87 %
Net Expense Ratio
0.80 %

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 redeemed, 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. 

Net asset value (NAV) is the value of one share of the fund excluding any sales charges.

Institutional Class shares are sold without a front-end sales charge or contingent deferred sales charge.

Please keep in mind that high double-digit returns were primarily achieved during favorable market conditions. You should not expect that such favorable returns can be consistently achieved. A fund's performance, especially for short time periods, should not be the sole factor in making your investment decision.

The manager has contractually committed, through 8/31/2025, to waive fees and/or reimburse expenses to the extent necessary to cap the fund's total annual fund operating expenses after fee waivers at 0.8%. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses (if any) from funds in which the underlying master portfolios and funds invest and from money market funds, and extraordinary expenses are excluded from the expense cap. All other acquired fund fees and expenses from the affiliated master portfolios and funds are included in the expense cap. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees. Without this cap, the fund's returns would be lower. The expense ratio paid by an investor is the net expense ratio (the total annual fund operating expense after fee waivers), as stated in the prospectus, including acquired fund fees and expenses which are reflected in the figures above.

Calendar year

Calendar year

(as of 12/31/2023)
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
Fund
14.63
-15.69
13.85
13.99
20.23
-9.34
15.22
5.08
-4.55
0.77
Benchmark
16.54
-16.12
12.10
14.87
21.22
-5.91
16.45
6.17
-1.13
4.87
Morningstar
13.78
-13.64
13.89
11.72
19.23
-5.76
13.21
7.34
-1.93
6.21
Growth of $10,000

Growth of a $10,000 investment

(as of 9/30/2024)

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

(as of 9/30/2024)
3 Year 5 Year 10 Year
Alpha -0.41 -0.37 -13.96
Beta 0.99 1.02 1.02
Excess Return -0.47 -0.24 -1.39
Information Ratio -0.33 -0.15 -0.75
Sharpe Ratio 0.08 0.46 0.38
R2 0.99 0.99 0.97
Tracking Error 1.43 1.59 1.84
Standard Deviation 12.88 13.18 10.88
Upside Market Capture Ratio 98.04 101.17 91.71
Downside Market Capture Ratio 100.59 101.77 102.90
Morningstar ratings and rankings

Morningstar ratings and rankings

(as of 9/30/2024)
Overall
Moderate Allocation (Out of 682 funds)
Three Year
53rd percentile (356 out of 682)
Five Year
38th percentile (244 out of 643)
Ten Year
81st percentile (389 out of 491)

The Overall Morningstar Rating for a fund is derived from a weighted-average of the performance figures associated with its three-, five- and ten-year (if applicable) ratings.

Morningstar rankings represent a fund's total return rank relative to all funds that have the same category. The percentile ranking is based on the fund's total return percentile rank relative to all funds that have the same category for the same time period. The highest (most favorable) percentile rank is 1% and the lowest (least favorable) percentile rank is 100%. Morningstar rankings do not include the effect of sales charges. The absolute ranking is based on the fund’s total return rank relative to all funds that have the same category for the same time period. Past performance is no guarantee of future results.

Prices and distributions

Historical prices

YTD high $15.84 11/11/2024
YTD low $13.59 1/17/2024
52-week high $15.84 11/11/2024
52-week low $13.00 11/15/2023
2023 high $13.92 12/27/2023
2023 low $12.10 1/3/2023
Best quarterly return 14.59% 6/30/2020
Worst quarterly return -14.94% 3/31/2020
Best annual return 20.23% 12/31/2019
Worst annual return -15.69% 12/31/2022

Distribution summary

Dividends Annually
Capital gains Annually

Distribution history

Distribution history Type Per share amount Re investment price
2022-12-28 Dividend $0.46501 $12.00
2022-12-13 Long-term capital gain $0.37489 $12.93
2021-12-29 Dividend $0.23568 $15.36
2021-12-14 Long-term capital gain $0.97698 $15.26
2021-12-14 Short-term capital gain $1.16426 $15.26
2020-12-29 Dividend $0.46083 $15.54
2020-12-11 Long-term capital gain $0.14003 $15.79
2020-12-11 Short-term capital gain $0.04849 $15.79
2019-12-27 Dividend $0.10295 $14.30
2019-12-12 Long-term capital gain $0.14689 $14.18
2019-12-12 Short-term capital gain $0.01197 $14.18
2018-12-26 Dividend $0.11434 $11.94
2018-12-10 Long-term capital gain $0.96668 $12.53
2017-12-26 Dividend $0.30241 $14.43
2016-12-27 Dividend $0.25296 $12.83
2015-12-28 Dividend $0.43809 $12.51
2015-12-11 Long-term capital gain $0.18824 $12.78
2014-12-30 Dividend $0.46985 $13.75
2013-12-30 Dividend $0.30791 $14.05
2012-12-28 Dividend $0.40319 $12.77
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Composition

Portfolio statistics

Portfolio statistics

(as of 9/30/2024)
Fund Benchmark
Number of Holdings 33 -
Median Market Cap 2.28 5.97
Dividend Yield 1.81 1.77
P/E (1-year EPS forecast) 16.83 18.49
P/B Ratio 2.98 3.25
EPS Growth - -
Return on Equity - 23.24
Portfolio Turnover 106.21 -
Credit quality

Credit quality

(as of 9/30/2024)
Type
Fund
Benchmark
AAA/Aaa
13.05% 30.17%
AA/Aa
51.10% 45.64%
A/A
14.94% 11.76%
BBB/Baa
16.08% 12.44%
BB/Ba
2.34% 0.01%
B/B
1.60% -
CCC/Caa and below
0.78% -
Not rated
0.11% -

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 Chart

(as of 9/30/2024)
Maturity Range
Fund
0 to 1 year
2.93%
1 - 3 years
25.80%
3 - 5 years
23.08%
5 - 10 years
26.06%
10 - 20 years
21.28%
20+ years
0.02%
Other
0.82%

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

Asset allocation

Asset allocation

(as of 9/30/2024)
Credit Assets
Allocation
Stocks
65.00%
Bonds
35.00%

Asset allocation 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 10/31/2024)
Security
Fund
Allspring Managed Fixed Income Portfolio
22.44%
Allspring Disciplined US Core Fund - R6
13.86%
Allspring Large Company Value Portfolio
11.81%
Allspring Disciplined International Developed Markets Portfolio
10.22%
Allspring Diversified Large Cap Growth Portfolio
8.40%
Allspring Core Bond Portfolio
6.29%
iShares Core MSCI EAFE ETF
3.94%
Allspring Real Return Portfolio
3.56%
Allspring C&B Large Cap Value Portfolio
3.54%
iShares Russell 1000 Growth ETF
2.79%
Top 10 represents 86.86% of total net assets

Documents

Literature Details Frequency
Fact Sheet Administrator, Institutional, A, C Quarterly Download
Regulatory Document Details Date
Annual Report Administrator, Institutional, A, C 4/30/2024 Download
Full Prospectus Institutional 9/1/2024 Download
Quarterly Holdings Administrator, Institutional, A, C 7/31/2024 Download
Quarterly Holdings Administrator, Institutional, A, C 2/29/2024 Download
Semi-annual Report Administrator, Institutional, A, C 11/30/2023 Download
Statement of Additional Information Institutional, C, A, Administrator 9/1/2024 Download
Summary Prospectus Institutional 9/1/2024 Download
Our team
Meet the investment team

The team’s culture is a differentiating strength and includes a rich variety of backgrounds, thinking, and complementary skill sets.

Key risks

Investing involves risk, including the possible loss of principal. Balanced funds may invest in stocks and bonds. Stock values fluctuate in response to the activities of individual companies and general market and economic conditions. 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 fund will indirectly be exposed to all of the risks of an investment in the underlying funds in which the fund invests. Consult the fund’s prospectus for additional information on these and other risks.

Contact Us

We look forward to helping you with your investment needs

 

  
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.

Some of Morningstar’s proprietary calculations, including the Morningstar Rating™, are not customarily calculated based on adjusted historical returns. However, for new share classes/channels, Morningstar may calculate an extended-performance Morningstar Rating. The extended performance is calculated by adjusting the historical total returns of the oldest share class of a fund to reflect the fee structure of the younger share class/channel, attaching this data to the younger share class’s performance record, and then compounding the adjusted plus actual monthly returns into the extended-performance Morningstar risk-adjusted return for the 3-, 5-, and 10-year time periods. The Morningstar risk-adjusted returns are used to determine the extended-performance Morningstar Rating. The extended-performance Morningstar Rating for this fund does not affect the retail fund data published by Morningstar, as the bell curve distribution on which the ratings are based includes only funds with actual returns. The Overall Morningstar Rating for multi-share funds is based on actual performance only or extended performance only. Once the share class turns three years old, the Overall Morningstar Rating will be based on actual ratings only. The Overall Morningstar Rating for multi-share variable annuities is based on a weighted average of any ratings that are available.

While the inclusion of pre-inception data in the form of extended performance can provide valuable insight into the probable long-term behavior of newer share classes of a fund, investors should be aware that an adjusted historical return can provide only an approximation of that behavior. For example, the fee structures of a retail share class will vary from that of an institutional share class, as retail shares tend to have higher operating expenses and sales charges. These adjusted historical returns are not actual returns. The underlying investments in the share classes used to calculate the pre-performance string likely will vary from the underlying investments held in the fund after inception. Calculation methodologies used by Morningstar may differ from those applied by other entities, including the fund itself.

The manager has contractually committed to certain fee waivers and/or expense reimbursements. Without these reductions, the fund’s returns would have been lower and rankings may have been lower. These reductions may be discontinued.

© 2024 Morningstar. All rights reserved. The information contained herein is proprietary to Morningstar and/or its content providers; may not be copied or distributed; and is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.


Performance for the fund or the class shown may reflect a predecessor fund's or class' performance and may be adjusted to reflect the fund's or class' expenses as applicable.