Assignment flows are smooth dynamical systems for data labeling on graphs. Although they exhibit structural similarities with the well‐studied class of replicator dynamics, it is nontrivial to apply existing tools to their analysis. We propose an embedding of the underlying assignment manifold into the interior of a single probability simplex. Under this embedding, a large class of assignment flows are pushed to much higher‐dimensional replicator dynamics. We demonstrate the applicability of this result by transferring a spectral decomposition of replicator dynamics to assignment flows.