ERH vs. SFAAX

Last updated Aug 1, 2026

ERH (Allspring Utilities and High Income Fund) and SFAAX (Allspring Index Asset Allocation Fund) are both mutual funds - ERH is a Utilities Equities fund actively managed by Allspring, while SFAAX is a Diversified Portfolio fund managed by Allspring. Over the past 10 years, ERH returned 6.37%/yr vs 8.95%/yr for SFAAX. Their 0.37 correlation means their historical movements had little consistent relationship. ERH charges 0.93%/yr vs 1.08%/yr for SFAAX.

Performance

ERH vs. SFAAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allspring Utilities and High Income Fund (ERH) and Allspring Index Asset Allocation Fund (SFAAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with ERH having a 5.28% return and SFAAX slightly lower at 5.11%. Over the past 10 years, ERH has underperformed SFAAX with an annualized return of 6.37%, while SFAAX has yielded a comparatively higher 8.95% annualized return.

ERH

• 1D: 0.51%
• 1M: -1.77%
• 6M: 4.35%
• YTD: 5.28%
• 1Y: 7.75%
• 3Y*: 14.05%
• 5Y*: 4.37%
• 10Y*: 6.37%
• ALL TIME*: 7.01%

SFAAX

• 1D: 1.09%
• 1M: -0.80%
• 6M: 4.10%
• YTD: 5.11%
• 1Y: 12.43%
• 3Y*: 11.86%
• 5Y*: 6.39%
• 10Y*: 8.95%
• ALL TIME*: 8.56%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ERH Allspring Utilities and High Income Fund	$414.94K	$329.06K	$304.26K
SFAAX Allspring Index Asset Allocation Fund	$0.00	$0.00	$0.00

ERH vs. SFAAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ERH Allspring Utilities and High Income Fund	5.28%	19.85%	25.71%	-10.52%	-18.38%	22.14%	-1.15%	33.97%	-8.98%	18.32%
SFAAX Allspring Index Asset Allocation Fund	5.11%	11.39%	14.61%	16.64%	-17.03%	15.76%	16.21%	21.52%	-2.82%	12.25%

Correlation

The correlation between ERH and SFAAX is 0.16, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.16
Correlation (3Y) Balances recent behavior with more history.	0.30
Correlation (5Y) Shows whether the relationship held over a longer period.	0.39
Correlation (10Y) Provides a long-term view across more market conditions.	0.35
Correlation (All Time) Calculated using the full available price history since Apr 28, 2004	0.37

Over the past year, the correlation between ERH and SFAAX has dropped to 0.16 - well below their long-term average of 0.37, suggesting their price drivers have been diverging.

Return for Risk

ERH vs. SFAAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ERH

ERH Risk / Return Rank: 14
ERH Sharpe Ratio Rank: 15
ERH Sortino Ratio Rank: 14
ERH Omega Ratio Rank: 15
ERH Calmar Ratio Rank: 16
ERH Martin Ratio Rank: 12

SFAAX

SFAAX Risk / Return Rank: 50
SFAAX Sharpe Ratio Rank: 46
SFAAX Sortino Ratio Rank: 44
SFAAX Omega Ratio Rank: 43
SFAAX Calmar Ratio Rank: 57
SFAAX Martin Ratio Rank: 59

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ERH vs. SFAAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allspring Utilities and High Income Fund (ERH) and Allspring Index Asset Allocation Fund (SFAAX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ERH	SFAAX	Difference
Sharpe ratio: Return per unit of total volatility	0.61	1.29	-0.69
Sortino ratio: Return per unit of downside risk	0.90	1.84	-0.94
Omega ratio: Gain probability vs. loss probability	1.12	1.23	-0.11
Calmar ratio: Return relative to maximum drawdown	0.85	2.01	-1.16
Martin ratio: Return relative to average drawdown	1.68	7.79	-6.11

ERH vs. SFAAX - Sharpe Ratio Comparison

The current ERH Sharpe Ratio is 0.61, which is lower than the SFAAX Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of ERH and SFAAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ERH vs. SFAAX - Drawdown Comparison

The maximum ERH drawdown since its inception was -69.81%, which is greater than SFAAX's maximum drawdown of -47.78%. Use the drawdown chart below to compare losses from any high point for ERH and SFAAX.

Drawdown Indicators

	ERH	SFAAX	Difference
Max Drawdown Largest peak-to-trough decline	-69.81%	-47.78%	-22.03%
Max Drawdown (1Y) Largest decline over 1 year	-9.36%	-5.69%	-3.67%
Max Drawdown (3Y) Largest decline over 3 years	-19.00%	-11.69%	-7.31%
Max Drawdown (5Y) Largest decline over 5 years	-37.85%	-24.32%	-13.53%
Max Drawdown (10Y) Largest decline over 10 years	-46.11%	-24.32%	-21.79%
Current Drawdown Current decline from peak	-5.32%	-1.91%	-3.41%
Average Drawdown Average peak-to-trough decline	-17.20%	-5.83%	-11.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.70%	1.46%	+3.24%

Volatility

ERH vs. SFAAX - Volatility Comparison

Allspring Utilities and High Income Fund (ERH) has a higher volatility of 3.70% compared to Allspring Index Asset Allocation Fund (SFAAX) at 2.49%. This indicates that ERH's price experiences larger fluctuations and is considered to be riskier than SFAAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ERH	SFAAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.70%	2.49%	+1.21%
Volatility (6M) Calculated over the trailing 6-month period	10.60%	6.77%	+3.83%
Volatility (1Y) Calculated over the trailing 1-year period	13.03%	8.82%	+4.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.73%	11.46%	+5.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.71%	11.42%	+8.29%

ERH vs. SFAAX - Expense Ratio Comparison

ERH has a 0.93% expense ratio, which is lower than SFAAX's 1.08% expense ratio.

Dividends

ERH vs. SFAAX - Dividend Comparison

ERH's dividend yield for the trailing twelve months is around 8.57%, less than SFAAX's 12.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ERH Allspring Utilities and High Income Fund	8.57%	8.13%	7.15%	9.19%	8.09%	5.86%	7.20%	6.53%	8.06%	6.82%	7.53%	8.04%
SFAAX Allspring Index Asset Allocation Fund	12.07%	12.65%	12.74%	7.46%	4.98%	5.92%	3.77%	3.60%	3.88%	1.27%	1.66%	6.34%

Frequently Asked Questions

Can I hold both ERH and SFAAX in my portfolio?

ERH and SFAAX have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ERH or SFAAX?

ERH has higher volatility (3.70%) compared to SFAAX (2.49%). In terms of maximum drawdown, ERH dropped -69.81% vs SFAAX's -47.78%.

Which has better risk-adjusted returns?

SFAAX currently has the higher Sharpe Ratio (1.29 vs 0.61), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.