In plain terms — Allspring Utilities & High Income Fund
Shares currently cost about 12.6% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 7.9% discount, so today's level is somewhat wide for this fund (Z-score -1.9). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 10.1% a year of the share price (8.8% of the assets). That is a payout rate, not a return: part of it may be capital being handed back.
Because the shares trade below the value of their assets, each dollar of reinvested distributions buys about $1.14 of assets — a ReinvestCapture™ rate of 11.6%, more than the payout rate itself. That is buying power, not a return.
The assets themselves fell 6.9% over the past year including distributions (NAV total return).
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Price and NAV, past year
Snapshot
Valuation vs. history
| Window | Average prem/disc | Std. dev. | Z-score | Observations |
|---|---|---|---|---|
| 3 months | -7.95% | 1.57% | -1.69 | 64 |
| 6 months | -7.81% | 1.39% | -2.02 | 126 |
| 1 year | -7.88% | 1.43% | -1.91 | 250 |
| 3 years | -10.19% | — | — | — |
| 5 years | -7.34% | — | — | — |
Current contemporaneous premium/discount -10.61% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -11.59% to -3.00%. A negative Z-score means a wider discount than the window average — not that the fund is undervalued.
Performance
| Series | 1M | 3M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) |
|---|---|---|---|---|---|---|
| Market price return | -4.67% | -15.02% | -11.93% | -17.97% | +7.66% | -6.13% |
| Market price total return | -3.88% | -13.00% | -5.27% | -10.55% | +16.93% | +1.69% |
| NAV return | -0.25% | -8.97% | -7.55% | -14.10% | +6.19% | -1.45% |
| NAV total return | +0.48% | -6.98% | -1.12% | -6.95% | +14.40% | +6.12% |
Through Oct 14, 2026. Total return reinvests distributions at the series value on the ex-date. Cumulative ≤ 1 year, annualised beyond.
About the fund
The Allspring Utilities and High Income Fund functions as a closed-end, balanced mutual fund, principally managed by Wells Fargo Funds Management LLC. Joint management is also provided by Crow Point Partners, LLC and Wells Capital Management Incorporated. This fund strategically deploys capital in both the public stock and bond markets across the United States. Its equity holdings predominantly comprise shares of utility sector enterprises, such as water, gas, electric, and telecommunications companies, irrespective of their market capitalization. Within its fixed income segment, the fund specifically targets high-yield, non-investment grade debt instruments. Launched on April 28, 2004, the fund is domiciled in the United States.
CEF Explorer research page for Allspring Utilities & High Income Fund. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.