FSTZX vs. IPBAX

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund (FSTZX) and Allspring Real Return Fund (IPBAX).

FSTZX is managed by Fidelity. It was launched on Jan 17, 2022. IPBAX is managed by Allspring Global Investments. It was launched on Feb 27, 2003.

Performance

FSTZX vs. IPBAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund (FSTZX) and Allspring Real Return Fund (IPBAX). The values are adjusted to include any dividend payments, if applicable.

FSTZX vs. IPBAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FSTZX Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	1.02%	5.99%	4.87%	4.67%	-2.83%	1.32%
IPBAX Allspring Real Return Fund	11.78%	10.37%	8.12%	5.35%	-10.75%	2.68%

Returns By Period

In the year-to-date period, FSTZX achieves a 1.02% return, which is significantly lower than IPBAX's 11.78% return.

FSTZX

• 1D: 0.30%
• 1M: -0.00%
• YTD: 1.02%
• 6M: 1.30%
• 1Y: 3.95%
• 3Y*: 4.75%
• 5Y*: —
• 10Y*: —

IPBAX

• 1D: 0.25%
• 1M: -0.06%
• YTD: 11.78%
• 6M: 13.53%
• 1Y: 23.01%
• 3Y*: 10.78%
• 5Y*: 6.29%
• 10Y*: 4.92%

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

FSTZX vs. IPBAX - Expense Ratio Comparison

FSTZX has a 0.00% expense ratio, which is lower than IPBAX's 0.78% expense ratio.

IPBAX

Allspring Real Return Fund

FSTZX

Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund

Return for Risk

FSTZX vs. IPBAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FSTZX

FSTZX Risk / Return Rank: 95
FSTZX Sharpe Ratio Rank: 93
FSTZX Sortino Ratio Rank: 95
FSTZX Omega Ratio Rank: 93
FSTZX Calmar Ratio Rank: 97
FSTZX Martin Ratio Rank: 96

IPBAX

IPBAX Risk / Return Rank: 97
IPBAX Sharpe Ratio Rank: 98
IPBAX Sortino Ratio Rank: 97
IPBAX Omega Ratio Rank: 95
IPBAX Calmar Ratio Rank: 99
IPBAX Martin Ratio Rank: 98

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FSTZX vs. IPBAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund (FSTZX) and Allspring Real Return Fund (IPBAX). 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.

	FSTZX	IPBAX	Difference
Sharpe ratio Return per unit of total volatility	2.05	2.91	-0.86
Sortino ratio Return per unit of downside risk	3.11	3.98	-0.87
Omega ratio Gain probability vs. loss probability	1.45	1.53	-0.08
Calmar ratio Return relative to maximum drawdown	4.22	6.12	-1.89
Martin ratio Return relative to average drawdown	14.91	22.57	-7.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSTZX vs. IPBAX - Sharpe Ratio Comparison

The current FSTZX Sharpe Ratio is 2.05, which is comparable to the IPBAX Sharpe Ratio of 2.91. The chart below compares the historical Sharpe Ratios of FSTZX and IPBAX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FSTZX	IPBAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.05	2.91	-0.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.89	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.83	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.14	0.70	+0.45

Correlation

The correlation between FSTZX and IPBAX is 0.57, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FSTZX vs. IPBAX - Dividend Comparison

FSTZX's dividend yield for the trailing twelve months is around 3.98%, more than IPBAX's 2.33% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSTZX Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	3.98%	4.02%	2.78%	2.54%	5.25%	0.82%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IPBAX Allspring Real Return Fund	2.33%	2.58%	2.26%	3.71%	5.07%	3.84%	1.26%	2.12%	2.57%	1.96%	1.77%	2.13%

Drawdowns

FSTZX vs. IPBAX - Drawdown Comparison

The maximum FSTZX drawdown since its inception was -5.30%, smaller than the maximum IPBAX drawdown of -15.13%. Use the drawdown chart below to compare losses from any high point for FSTZX and IPBAX.

Drawdown Indicators

	FSTZX	IPBAX	Difference
Max Drawdown Largest peak-to-trough decline	-5.30%	-15.13%	+9.83%
Max Drawdown (1Y) Largest decline over 1 year	-1.03%	-3.84%	+2.81%
Max Drawdown (5Y) Largest decline over 5 years	—	-13.94%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-13.94%	—
Current Drawdown Current decline from peak	-0.30%	-0.38%	+0.08%
Average Drawdown Average peak-to-trough decline	-1.13%	-3.15%	+2.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.29%	1.04%	-0.75%

Volatility

FSTZX vs. IPBAX - Volatility Comparison

The current volatility for Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund (FSTZX) is 0.58%, while Allspring Real Return Fund (IPBAX) has a volatility of 3.22%. This indicates that FSTZX experiences smaller price fluctuations and is considered to be less risky than IPBAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSTZX	IPBAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.58%	3.22%	-2.64%
Volatility (6M) Calculated over the trailing 6-month period	1.07%	6.48%	-5.41%
Volatility (1Y) Calculated over the trailing 1-year period	1.99%	8.01%	-6.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.83%	7.12%	-4.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.83%	5.93%	-3.10%