IPBAX vs. TIILX

Last updated Jun 4, 2026

IPBAX (Allspring Real Return Fund) and TIILX (TIAA-CREF Inflation-Linked Bond Fund) are both Inflation-Protected Bonds funds. Over the past 10 years, IPBAX returned 5.11%/yr vs 2.92%/yr for TIILX. Their correlation of 0.83 suggests significant overlap in exposure. IPBAX charges 0.78%/yr vs 0.23%/yr for TIILX.

Performance

IPBAX vs. TIILX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allspring Real Return Fund (IPBAX) and TIAA-CREF Inflation-Linked Bond Fund (TIILX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IPBAX achieves a 15.33% return, which is significantly higher than TIILX's 1.67% return. Over the past 10 years, IPBAX has outperformed TIILX with an annualized return of 5.11%, while TIILX has yielded a comparatively lower 2.92% annualized return.

IPBAX

• 1D: 0.24%
• 1M: 1.61%
• YTD: 15.33%
• 6M: 15.65%
• 1Y: 23.78%
• 3Y*: 12.37%
• 5Y*: 6.34%
• 10Y*: 5.11%

TIILX

• 1D: 0.00%
• 1M: -0.09%
• YTD: 1.67%
• 6M: 1.39%
• 1Y: 4.88%
• 3Y*: 4.81%
• 5Y*: 2.35%
• 10Y*: 2.92%

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

IPBAX vs. TIILX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IPBAX Allspring Real Return Fund	15.33%	10.37%	8.12%	5.35%	-10.75%	7.74%	8.03%	9.87%	-4.02%	4.07%
TIILX TIAA-CREF Inflation-Linked Bond Fund	1.67%	7.09%	3.28%	4.35%	-7.22%	5.26%	8.10%	6.60%	-0.49%	1.74%

Correlation

The correlation between IPBAX and TIILX is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Mar 4, 2003	0.83

Over the past year, the correlation between IPBAX and TIILX has dropped to 0.25 - well below their long-term average of 0.83, suggesting their price drivers have been diverging.

Return for Risk

IPBAX vs. TIILX — Risk / Return Rank

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

IPBAX

IPBAX Risk / Return Rank: 91
IPBAX Sharpe Ratio Rank: 92
IPBAX Sortino Ratio Rank: 89
IPBAX Omega Ratio Rank: 85
IPBAX Calmar Ratio Rank: 96
IPBAX Martin Ratio Rank: 96

TIILX

TIILX Risk / Return Rank: 55
TIILX Sharpe Ratio Rank: 40
TIILX Sortino Ratio Rank: 50
TIILX Omega Ratio Rank: 43
TIILX Calmar Ratio Rank: 77
TIILX Martin Ratio Rank: 64

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.

IPBAX vs. TIILX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allspring Real Return Fund (IPBAX) and TIAA-CREF Inflation-Linked Bond Fund (TIILX). 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.

	IPBAX	TIILX	Difference
Sharpe ratio: Return per unit of total volatility	3.09	1.86	+1.23
Sortino ratio: Return per unit of downside risk	4.30	2.98	+1.33
Omega ratio: Gain probability vs. loss probability	1.58	1.35	+0.22
Calmar ratio: Return relative to maximum drawdown	6.16	3.52	+2.64
Martin ratio: Return relative to average drawdown	24.09	12.58	+11.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IPBAX vs. TIILX - Sharpe Ratio Comparison

The current IPBAX Sharpe Ratio is 3.09, which is higher than the TIILX Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of IPBAX and TIILX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IPBAX	TIILX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.09	1.86	+1.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.88	0.54	+0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.86	0.77	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.70	+0.01

Drawdowns

IPBAX vs. TIILX - Drawdown Comparison

The maximum IPBAX drawdown since its inception was -15.13%, which is greater than TIILX's maximum drawdown of -14.24%. Use the drawdown chart below to compare losses from any high point for IPBAX and TIILX.

Drawdown Indicators

	IPBAX	TIILX	Difference
Max Drawdown Largest peak-to-trough decline	-15.13%	-14.24%	-0.89%
Max Drawdown (1Y) Largest decline over 1 year	-3.84%	-1.37%	-2.47%
Max Drawdown (3Y) Largest decline over 3 years	-5.58%	-2.49%	-3.09%
Max Drawdown (5Y) Largest decline over 5 years	-13.94%	-9.57%	-4.37%
Max Drawdown (10Y) Largest decline over 10 years	-13.94%	-9.57%	-4.37%
Current Drawdown Current decline from peak	0.00%	-0.18%	+0.18%
Average Drawdown Average peak-to-trough decline	-3.13%	-2.92%	-0.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.98%	0.38%	+0.60%

Volatility

IPBAX vs. TIILX - Volatility Comparison

Allspring Real Return Fund (IPBAX) has a higher volatility of 2.35% compared to TIAA-CREF Inflation-Linked Bond Fund (TIILX) at 0.75%. This indicates that IPBAX's price experiences larger fluctuations and is considered to be riskier than TIILX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IPBAX	TIILX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.35%	0.75%	+1.60%
Volatility (6M) Calculated over the trailing 6-month period	6.00%	1.82%	+4.18%
Volatility (1Y) Calculated over the trailing 1-year period	7.68%	2.61%	+5.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.20%	4.39%	+2.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.98%	3.82%	+2.16%

IPBAX vs. TIILX - Expense Ratio Comparison

IPBAX has a 0.78% expense ratio, which is higher than TIILX's 0.23% expense ratio.

Dividends

IPBAX vs. TIILX - Dividend Comparison

IPBAX's dividend yield for the trailing twelve months is around 2.26%, less than TIILX's 3.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IPBAX Allspring Real Return Fund	2.26%	2.58%	2.26%	3.71%	5.07%	3.84%	1.26%	2.12%	2.57%	1.96%	1.77%	2.13%
TIILX TIAA-CREF Inflation-Linked Bond Fund	3.08%	3.95%	3.45%	3.38%	8.60%	6.29%	1.28%	1.85%	2.59%	2.00%	1.55%	0.33%

Frequently Asked Questions

Can I hold both IPBAX and TIILX in my portfolio?

IPBAX and TIILX have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IPBAX or TIILX?

IPBAX has higher volatility (2.35%) compared to TIILX (0.75%). In terms of maximum drawdown, IPBAX dropped -15.13% vs TIILX's -14.24%.

Which has better risk-adjusted returns?

IPBAX currently has the higher Sharpe Ratio (3.09 vs 1.86), 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.