---
title: "Allspring files a real-return ETF at 0.40%, undercutting bigger rivals"
url: "https://etf.net/news/allspring-real-return-etf-files-2026-11-13"
published_at: "2026-11-13T13:11:44.179Z"
updated_at: "2026-11-13T15:45:03.991Z"
byline: "ETF.net Research"
---

# Allspring files a real-return ETF at 0.40%, undercutting bigger rivals

The Allspring Real Return ETF will replicate the strategy of the firm's mutual fund and beat State Street's and VanEck's real-return ETFs on price.

By ETF.net Research. Published Nov 13, 2026.

Allspring, on Nov. 12, filed the [Allspring Real Return ETF](https://www.sec.gov/Archives/edgar/data/1611331/000161133126000039/etfwrapper.htm) with total annual operating expenses of **0.40%** and no fee waiver.

Allspring has run the strategy since Feb. 28, 2003, in the Allspring Real Return Fund, which had $207.6 million in assets as of Nov. 12 and charges a net expense ratio of between 0.40% and 0.76% across three share classes.

Like the mutual fund, the ETF seeks returns that exceed the rate of inflation over the long term. The prospectus caps debt at 70% of total assets, stocks at 70% and commodities at 25%. High-yield debt is capped at 20% of total assets. The prospectus names the mutual fund's existing managers: Petros Bocray, David Kowalske Jr., Rushabh Amin and Matthias Scheiber.

Two real-return ETFs already trading are larger than that $207.6 million mutual fund, and both cost more than 0.40%. [State Street Multi-Asset Real Return ETF](https://www.ssga.com/us/en/institutional/etfs/state-street-multi-asset-real-return-etf-rly) RLY had $1.40 billion in assets as of Nov. 12 and a gross expense ratio of 0.50%. [VanEck's October 2026 fact sheet](https://www.vaneck.com/us/en/investments/real-assets-etf-raax-fact-sheet.pdf) for VanEck Real Assets ETF RAAX lists total net assets of $1.41 billion, a gross expense ratio of 0.71% and a net ratio of 0.55%.

## Discount to some mutual fund share classes

Of the three classes in the Allspring Real Return Fund [Sept. 1, 2026 summary prospectus](https://www.sec.gov/Archives/edgar/data/1081400/000108140026000427/realreturn.htm), only Class R6 has a net expense ratio of 0.40%. Class R6, ticker IPBJX, has a gross expense ratio of 0.61%, and the shares are sold without a sales charge. Allspring has capped Class R6 at 0.40% only through Aug. 31, 2027.

Class A, ticker IPBAX, has a gross ratio of 0.97% and a net ratio of **0.76%**, before a front-end sales charge of up to 4.50%. Investments of $500,000 or more skip that front-end charge and generally pay 1% if the shares are redeemed within 18 months.

Institutional Class, ticker IPBNX, is capped at 0.45% through Aug. 31, 2027. The summary prospectus sets a $1 million minimum for that class, which may be reduced or eliminated for some investors.

Shareholders of the Real Return Fund are not being moved into the ETF. The filing registers a new fund rather than converting the one they hold and proposes to become effective 75 days after Nov. 12.

## Allspring Disciplined International Equity ETF

The same day, Allspring filed the [Allspring Disciplined International Equity ETF](https://www.sec.gov/Archives/edgar/data/1611331/000161133126000040/etfwrapper.htm), with total annual operating expenses of **0.27%** and no waiver. It proposes to become effective 75 days after Nov. 12.

The fund seeks long-term capital appreciation. Under normal circumstances, it invests at least 80% in foreign stocks and at least 80% in developed markets, which Allspring defines as the markets in the MSCI EAFE Index, and no more than 20% in emerging-market stocks. The foreign-stock minimum can be changed only with 60 days' notice to shareholders.

Allspring already runs the approach in its [Disciplined International Developed Markets Equity strategy](https://www.allspringglobal.com/investments/equity/strategies/disciplined-international-developed-markets-equity), which also seeks to outperform the MSCI EAFE Index (Net).

Source: etf.net, https://etf.net/news/allspring-real-return-etf-files-2026-11-13. Please cite the page URL.