At a glance
ASLV charges 0.35% a year, below the 0.36% average of the 8 funds most like it (the 5th cheapest of 9). It has $218.7M in assets, the 8th largest of that group; it paid 0.78% of its price in distributions over the past 12 months, annual. Over the past year it returned +11.1% with distributions reinvested (S&P 500: +11.5%), 7th of those 9 funds. Its ten largest positions make up 39.7% of the fund, out of 43 in all.
The short version
Allspring Special Large Value ETF (ASLV) is an actively managed fund. Its managers pick about 30 to 50 large companies, mostly American, that they judge to be undervalued. As of July 31, 2026, it held 43 stocks, and Amazon was the largest at about 8%. Its 0.35% expense ratio is close to the 0.36% average for similar funds. Its record is short, though: it launched on March 26, 2025.
Price history
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ASLV +11.1% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| ASLV price data to Oct 27, 2026 | +10.2% | +11.1% | — | — | — | +15.5% |
- Over the year to Oct 27, 2026, ASLV returned +11.1%, 7th of 9 among similar funds.
- The deepest fall in its price history was 11% (Apr 2, 2025 to Apr 8, 2025), recovered by May 12, 2025.
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +10.2% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
No distribution history is available for this fund.
Distributions through Oct 27, 2026.What's inside
As of Jul 31, 2026, the fund held 43 securities; the ten largest made up 39.7% of assets.
| Holding | Weight | |
|---|---|---|
| Amazon.com Inc | 7.98% | |
| Apple Inc | 4.08% | |
| NextEra Energy Inc | 3.74% | |
| Canadian Pacific Kansas City Ltd | 3.56% | |
| Microsoft Corp | 3.55% | |
| Berkshire Hathaway Inc | 3.49% | |
| Alphabet Inc | 3.47% | |
| Capital One Financial Corp | 3.36% | |
| Labcorp Holdings Inc | 3.25% | |
| Eaton Corp PLC | 3.20% | |
| Johnson & Johnson | 3.02% | |
| Unilever PLC | 2.94% | |
| Cadence Design Systems Inc | 2.73% | |
| Danaher Corp | 2.62% | |
| Visa Inc | 2.54% |
By country
United States 81.18%Ireland 4.79%Canada 3.56%Netherlands 3.51%United Kingdom 2.94%By asset type
Stocks 98.53%By sector
Sectors of the companies held, for the 69.4% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jul 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jul 31, 2026, investors withdrew a net $12.0M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -0.27%, +1.35%, +2.37%.
How it works
ASLV does not track an index. Allspring's portfolio managers choose the stocks. Normally, at least 80% of total assets goes into large companies. The fund defines these as companies within the size range of the Russell 1000 Index when bought, which was about $1.05 billion to $4.93 trillion as of October 31, 2025. Up to 20% can go into foreign companies. Some of that may be through American depositary receipts (ADRs), which are US-traded shares that stand for foreign stock.
The managers aim for 30 to 50 stocks they see as undervalued, with room for above-average gains at below-average risk. Their research favors companies with a lasting edge over competitors, strong balance sheets and steady cash flows. Many picks are out of favor or going through a reorganization or other corporate event. The managers may trim or drop a stock when it nears their price target, its risks rise sharply, its business weakens or a better idea comes along.
The prospectus sets no weighting formula or rebalancing schedule. Position sizes reflect the managers' judgment. Trading is light: portfolio turnover was 6%. As of July 31, 2026, the fund held 43 stocks and 0.9% cash, and it used no derivatives. About 81% of the portfolio was in US companies. The largest holding was Amazon, which shows that "value" here is the managers' own call, not a style index's definition.
What it really costs
- ASLV charges 0.35% a year, versus an average of 0.36% for the similar funds below (5th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $36 in the first year and $443 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| ASLV | $36 | $113 | $197 | $443 |
In a retirement portfolio
It is a concentrated, actively picked portfolio of 43 stocks with less than two years of history, so it fits better next to a broad core fund than in place of one.
ASLV could add a hand-picked value tilt next to a broad core fund. It did not exist during the 2008, 2020 or 2022 declines, and it has no full calendar year of returns yet, so its behavior in a bear market is untested. Its deepest drop was 11%, from April 2 to April 8, 2025, and it had recovered by May 12, 2025. As of October 27, 2026, its one-year beta was 0.72, which suggests smaller swings than the market. Beta measures how much a fund moves when the market moves. Still, that is thin evidence for anyone who may need to sell shares in a bad year. Income is small: a trailing yield of 0.78%, paid once a year. In the SEC's $10,000 example, costs come to $36 after one year and $443 after 10 years. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want about 30 to 50 hand-picked, undervalued large companies rather than a value index fund holding hundreds of stocks.
- Those comfortable with concentration: the top 10 holdings made up 39.7% of assets as of July 31, 2026, led by Amazon at nearly 8%.
- Long-term holders who like low trading: turnover was 6%, and the 0.35% expense ratio is near the 0.36% average for similar funds.
Look elsewhere if
- Cost-focused investors: SPDR Portfolio S&P 500 Value ETF (SPYV) charges 0.04%, and iShares Russell 1000 Value ETF (IWD) charges 0.19%.
- Anyone who wants a long track record: ASLV launched March 26, 2025, and has not been through the 2008, 2020 or 2022 downturns.
- Income seekers: the trailing yield was 0.78% as of October 27, 2026, and the fund pays only once a year.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| ASLV this fund | — | 0.35% | $218.7M | +11.1% | — |
| LCF Touchstone US Large Cap Focused ETF | 29% | 0.56% | $64.7M | +8.2% | +20.5% |
| PVAL Putnam Focused Large Cap Value ETF | 28% | 0.56% | $14.09B | +27.8% | +24.9% |
| IWD iShares Russell 1000 Value ETF | 27% | 0.19% | $79.74B | +28.8% | +22.2% |
| FLV American Century Focused Large Cap Value ETF | 27% | 0.42% | $381.6M | +20.6% | +19.3% |
| DYNF iShares U.S. Equity Factor Rotation Active … | 26% | 0.27% | $38.61B | +10.7% | +24.9% |
| BKDV BNY Mellon Dynamic Value ETF | 23% | 0.6% | $1.84B | +23.9% | — |
| QLC FlexShares US Quality Large Cap Index Fund | 21% | 0.25% | $1.01B | +15.1% | +27.0% |
Questions investors ask
Is ASLV good for retirement income?
Not mainly. ASLV's goal is long-term growth, not income. Its trailing 12-month yield was 0.78% as of October 27, 2026, or about $0.24 per share. It pays once a year, not monthly or quarterly. Retirees who want regular cash flow would get little from it. Its likely role is growth with a value tilt, alongside other holdings that produce income.
What stocks does ASLV hold?
ASLV held 43 stocks as of July 31, 2026, and the top 10 made up 39.7% of assets. The largest were Amazon (about 8.0%), Apple (4.1%), NextEra Energy (3.7%), Canadian Pacific Kansas City (3.6%), Microsoft (3.6%), Berkshire Hathaway (3.5%) and Alphabet (3.5%). About 81% was in US companies. Despite the "value" name, several large technology companies are among its top positions.
What is ASLV's expense ratio?
ASLV's expense ratio is 0.35% a year with no fee waiver, according to its prospectus filed November 24, 2025. That is close to the 0.36% average for similar funds and ranks 5th of 9 on cost. Index funds cost less: SPYV charges 0.04% and IWD charges 0.19%. In the SEC's standard example, $10,000 earning 5% a year would cost about $36 after one year, $197 after five years and $443 after 10 years.
What's the difference between ASLV and PVAL?
Both are actively managed ETFs that hold a focused list of large value stocks, and their holdings overlapped by about 28% in the latest N-PORT reports. Putnam Focused Large Cap Value ETF (PVAL) charges 0.56%, compared with 0.35% for ASLV. PVAL is also much bigger: about $14.1 billion in net assets as of August 31, 2026, versus about $219 million for ASLV as of July 31, 2026. PVAL returned 28.2% over the year to October 30, 2026, while ASLV returned 11.1% over the year to October 27, 2026.
How has ASLV performed since launch?
ASLV has a short record. It launched on March 26, 2025, and its price return from then through October 27, 2026 was 15.5%. That includes 11.1% over the past year and 10.2% year to date. The one-year figure ranked 8th of 9 among similar funds. By comparison, iShares Russell 1000 Value ETF returned 28.9% over the year to October 30, 2026. The prospectus has no standard SEC performance figures yet, so there is not enough history to judge the managers over the long term.