Short-Term Bond Fund — A — Wells Fargo Advantage Funds Mobile

Fund Profile

Short-Term Bond Fund – SSTVX

Share Price 06-19-13	$8.79
Daily Change	-0.01
YTD Return	0.18%
30-Day SEC Yield as of 06-18-13	0.88%
View the 30-day unsubsidized SEC yields
Inception Date	08-31-1987
Net Fund Assets 05-31-2013	$590,420,068.89

PERFORMANCE

AVERAGE ANNUAL TOTAL RETURNS % as of 03-31-2013

	1-year	3-year	5-year	10-year	Inception
NAV	1.89	2.45	3.35	3.31	5.15
POP	-0.15	1.76	2.94	3.11	5.07

Barclays 1-3 Year Government/Credit Bond Index

	1-year	3-year	5-year	10-year	Inception
	1.09	1.65	2.37	3.06	--

Important disclosure

For Class A shares, the maximum front-end sales charge is 3.00%. Performance including sales charge assumes the sales charge for the corresponding time period.
Public offering price (POP) is the price of one share of a fund including any sales charges. Net asset value (NAV) is the value of one share of the fund excluding any sales charges. Had sales charges been included, performance would be lower. Returns for periods of less than one year are not annualized.
The Barclays U.S. 1-3 Year Government/Credit Bond Index is the 1-3 year component of the Barclays Government/Credit Bond Index which includes securities in the Government and Credit Indices. The Government Index includes treasuries (i.e., public obligations of the U.S. Treasury that have remaining maturities of more than one year) and agencies (i.e., publicly issued debt of U.S. Government agencies, quasi-federal corporations, and corporate or foreign debt guaranteed by the U.S. Government). The Credit Index includes publicly issued U.S. corporate and foreign debentures and secured notes that meet specified maturity, liquidity, and quality requirements. You cannot invest directly in an index.

The inception date of Class A shares was 8-31-99. Effective 6-20-08, the Advisor Class was renamed Class A and modified to assume the features and attributes of Class A. Class C shares incepted on 3-31-08. Performance shown for the Class A shares from 8-31-99. through 6-19-08, includes Advisor Class expenses and is adjusted to reflect Class A sales charges. Performance shown prior to 8-31-99, for the Class A shares reflects the performance of the Investor Class shares, adjusted to reflect Advisor Class expenses and Class A sales charges. Performance shown prior to the inception of the Class C shares reflects the performance of the Investor Class shares, adjusted to reflect Class C expenses.

EXPENSES %

Net Expense Ratio effective since 01-01-13	0.81%
Gross Expense Ratio	0.86%

Important disclosure

The advisor has committed, through 12-31-13, to waive fees and/or reimburse expenses to the extent necessary to cap the fund's total annual fund operating expenses after fee waiver, excluding certain expenses, at 0.80%. Without this cap, the fund's returns would have been lower.

MORNINGSTAR RATINGS as of 05-31-2013

Category = Short-Term Bond

3-Year out of 356 funds
5-Year out of 321 funds
10-Year out of 210 funds
Overall out of 356 funds

Important disclosure

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, based on risk-adjusted returns.

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each 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. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) Past performance is no guarantee of future results.

HOLDINGS

TOP HOLDINGS % of net assets as of 05-31-2013

Nordea Eiendomskreditt A Fixed, 1.87%, 2015-04-07	1.10%
WI Treasury N/b, 0.87%, 2018-01-31	1.06%
Energy Transfer Partners, 5.95%, 2015-02-01	0.94%
GNMA Gnr 2012 19 A, 1.82%, 2039-03-16	0.90%
Owens Corning Incorporated, 6.50%, 2016-12-01	0.86%
FNMA, 3.25%, 2015-04-01	0.78%
Cnh Equipment Trust Cnh 2013 A A2, 0.44%, 2016-07-15	0.73%
Portland Or Por Adjustable Var, 0.07%, 2019-06-01	0.71%
MERCEDES BENZ AUTO LEASE TRUST MBALT 2013 A A2, 0.49%, 2015-06-15	0.71%
Tcm Sub LLC Fixed, 3.55%, 2015-01-15	0.70%

Portfolio holdings are subject to change and may have changed since the date specified.

FUND STORY

PORTFOLIO MANAGERS

		Jay N. Mueller, CFA Years of investment experience: 30

		Christopher Y. Kauffman, CFA Years of investment experience: 16

		Noah Wise, CFA Years of investment experience: 12

The Fund

The Wells Fargo Advantage Short-Term Bond Fund seeks current income by investing primarily in a diversified portfolio of fixed-income securities with an average maturity of less than three years.

Competitive Advantages

Rigorous fundamental credit research: Research is conducted through a comprehensive team effort in which all members operate as credit analysts for each of the credits that they cover. This empowers the team to act opportunistically in the marketplace.
Empowered sector experts: The fund is managed by an interdisciplinary team that combines the expertise of specialists dedicated to various sectors, such as credit, securitized, or government. Each sector leader is empowered to trade the portfolio within the bands of tactical discretion.
Disciplined risk management: The team uses proprietary risk management tools designed to balance alpha generation with appropriate levels of risk-adjusted return and comprehensive risk management.

Risks

Bond fund values fluctuate in response to the financial condition of individual issuers, general market and economic conditions, and changes in interest rates. In general, when interest rates rise, bond fund values fall and investors may lose principal value. The use of derivatives may reduce returns and/or increase volatility. Certain investment strategies tend to increase the total risk of an investment (relative to the broader market). This fund is exposed to foreign investment risk, high-yield securities risk, and mortgage- and asset-backed securities risk. Consult the fund's prospectus for additional information on these and other risks.

Figures quoted represent past performance, which is no guarantee of future results. 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. Performance shown without sales charges would be lower if sales charges were reflected. Current performance may be lower or higher than the performance data quoted and assumes the reinvestment of dividends and capital gains. Current month-end performance is available at the funds' website, wellsfargo.com/advantagefunds.

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Not FDIC Insured • No Bank Guarantee • May Lose Value