EVUAX vs. WGBFX

Last updated Jul 15, 2026

EVUAX (Allspring Utility and Telecommunications Fund) and WGBFX (Allspring Spectrum Moderate Growth Fund) are both mutual funds - EVUAX is a Utilities Equities fund managed by Allspring Global Investments, while WGBFX is a Diversified Portfolio fund managed by Allspring Global Investments. Over the past 5 years, EVUAX returned 7.53%/yr vs 5.20%/yr for WGBFX. At a 0.46 correlation, their price movements are largely independent. EVUAX charges 1.04%/yr vs 1.49%/yr for WGBFX.

Performance

EVUAX vs. WGBFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allspring Utility and Telecommunications Fund (EVUAX) and Allspring Spectrum Moderate Growth Fund (WGBFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EVUAX achieves a 7.94% return, which is significantly higher than WGBFX's 7.32% return.

EVUAX

• 1D: 0.42%
• 1M: 3.42%
• 6M: 7.41%
• YTD: 7.94%
• 1Y: 12.02%
• 3Y*: 12.79%
• 5Y*: 7.53%
• 10Y*: 10.53%

WGBFX

• 1D: -0.99%
• 1M: -0.78%
• 6M: 4.69%
• YTD: 7.32%
• 1Y: 15.44%
• 3Y*: 11.49%
• 5Y*: 5.20%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EVUAX vs. WGBFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EVUAX Allspring Utility and Telecommunications Fund	7.94%	15.41%	17.68%	-5.17%	-3.47%	13.95%	4.19%	54.25%	3.25%	13.66%
WGBFX Allspring Spectrum Moderate Growth Fund	7.32%	13.79%	9.12%	12.05%	-16.38%	11.63%	14.87%	16.98%	-7.18%	13.21%

Correlation

The correlation between EVUAX and WGBFX is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.46

The correlation between EVUAX and WGBFX shifts across timeframes, from 0.32 (1 year) to 0.46 (all time), reflecting how their relationship changes across market environments.

Return for Risk

EVUAX vs. WGBFX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EVUAX

EVUAX Risk / Return Rank: 22
EVUAX Sharpe Ratio Rank: 21
EVUAX Sortino Ratio Rank: 19
EVUAX Omega Ratio Rank: 19
EVUAX Calmar Ratio Rank: 31
EVUAX Martin Ratio Rank: 19

WGBFX

WGBFX Risk / Return Rank: 60
WGBFX Sharpe Ratio Rank: 53
WGBFX Sortino Ratio Rank: 49
WGBFX Omega Ratio Rank: 52
WGBFX Calmar Ratio Rank: 84
WGBFX Martin Ratio Rank: 63

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EVUAX vs. WGBFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allspring Utility and Telecommunications Fund (EVUAX) and Allspring Spectrum Moderate Growth Fund (WGBFX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	EVUAX	WGBFX	Difference
Sharpe ratio: Return per unit of total volatility	0.94	1.61	-0.67
Sortino ratio: Return per unit of downside risk	1.32	2.20	-0.87
Omega ratio: Gain probability vs. loss probability	1.17	1.29	-0.13
Calmar ratio: Return relative to maximum drawdown	1.63	3.14	-1.51
Martin ratio: Return relative to average drawdown	3.49	9.48	-5.99

EVUAX vs. WGBFX - Sharpe Ratio Comparison

The current EVUAX Sharpe Ratio is 0.94, which is lower than the WGBFX Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of EVUAX and WGBFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EVUAX vs. WGBFX - Drawdown Comparison

The maximum EVUAX drawdown since its inception was -56.00%, which is greater than WGBFX's maximum drawdown of -21.06%. Use the drawdown chart below to compare losses from any high point for EVUAX and WGBFX.

Drawdown Indicators

	EVUAX	WGBFX	Difference
Max Drawdown Largest peak-to-trough decline	-56.00%	-21.06%	-34.94%
Max Drawdown (1Y) Largest decline over 1 year	-7.68%	-4.99%	-2.69%
Max Drawdown (3Y) Largest decline over 3 years	-14.26%	-8.24%	-6.02%
Max Drawdown (5Y) Largest decline over 5 years	-23.32%	-21.06%	-2.26%
Max Drawdown (10Y) Largest decline over 10 years	-31.72%	—	—
Current Drawdown Current decline from peak	-1.55%	-2.90%	+1.35%
Average Drawdown Average peak-to-trough decline	-9.55%	-4.38%	-5.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.58%	1.65%	+1.93%

Volatility

EVUAX vs. WGBFX - Volatility Comparison

The current volatility for Allspring Utility and Telecommunications Fund (EVUAX) is 3.59%, while Allspring Spectrum Moderate Growth Fund (WGBFX) has a volatility of 3.87%. This indicates that EVUAX experiences smaller price fluctuations and is considered to be less risky than WGBFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EVUAX	WGBFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.59%	3.87%	-0.28%
Volatility (6M) Calculated over the trailing 6-month period	10.58%	7.69%	+2.89%
Volatility (1Y) Calculated over the trailing 1-year period	13.35%	9.77%	+3.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.16%	9.67%	+7.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.12%	9.58%	+9.54%

EVUAX vs. WGBFX - Expense Ratio Comparison

EVUAX has a 1.04% expense ratio, which is lower than WGBFX's 1.49% expense ratio.

Dividends

EVUAX vs. WGBFX - Dividend Comparison

EVUAX's dividend yield for the trailing twelve months is around 6.00%, less than WGBFX's 7.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EVUAX Allspring Utility and Telecommunications Fund	6.00%	6.17%	4.70%	5.76%	11.09%	13.01%	13.60%	35.11%	1.96%	1.75%	1.34%	1.95%
WGBFX Allspring Spectrum Moderate Growth Fund	7.33%	7.86%	2.83%	0.18%	6.52%	11.59%	10.08%	0.89%	13.80%	12.07%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EVUAX and WGBFX in my portfolio?

EVUAX and WGBFX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EVUAX or WGBFX?

WGBFX has higher volatility (3.87%) compared to EVUAX (3.59%). In terms of maximum drawdown, EVUAX dropped -56.00% vs WGBFX's -21.06%.

Which has better risk-adjusted returns?

WGBFX currently has the higher Sharpe Ratio (1.61 vs 0.94), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.