IPBAX vs. VIPIX
IPBAX (Allspring Real Return Fund) and VIPIX (Vanguard Inflation-Protected Securities Fund Institutional Shares) are both Inflation-Protected Bonds funds. Over the past 10 years, IPBAX returned 4.87%/yr vs 2.62%/yr for VIPIX. Their correlation of 0.82 suggests significant overlap in exposure. IPBAX charges 0.78%/yr vs 0.07%/yr for VIPIX.
Performance
IPBAX vs. VIPIX - Performance Comparison
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Returns By Period
In the year-to-date period, IPBAX achieves a 12.87% return, which is significantly higher than VIPIX's 1.05% return. Over the past 10 years, IPBAX has outperformed VIPIX with an annualized return of 4.87%, while VIPIX has yielded a comparatively lower 2.62% annualized return.
IPBAX
- 1D
- 0.24%
- 1M
- -0.56%
- YTD
- 12.87%
- 6M
- 12.68%
- 1Y
- 21.37%
- 3Y*
- 11.45%
- 5Y*
- 5.96%
- 10Y*
- 4.87%
VIPIX
- 1D
- 0.21%
- 1M
- 0.43%
- YTD
- 1.05%
- 6M
- 1.27%
- 1Y
- 4.07%
- 3Y*
- 3.84%
- 5Y*
- 1.08%
- 10Y*
- 2.62%
IPBAX vs. VIPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IPBAX Allspring Real Return Fund | 12.87% | 10.37% | 8.12% | 5.35% | -10.75% | 7.74% | 8.03% | 9.87% | -4.02% | 4.07% |
VIPIX Vanguard Inflation-Protected Securities Fund Institutional Shares | 1.05% | 6.98% | 1.85% | 3.85% | -11.93% | 5.73% | 11.05% | 8.18% | -1.40% | 2.97% |
Correlation
The correlation between IPBAX and VIPIX is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Dec 15, 2003 | 0.82 |
Over the past year, the correlation between IPBAX and VIPIX has dropped to 0.29 - well below their long-term average of 0.82, suggesting their price drivers have been diverging.
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Return for Risk
IPBAX vs. VIPIX — Risk / Return Rank
IPBAX
VIPIX
IPBAX vs. VIPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Allspring Real Return Fund (IPBAX) and Vanguard Inflation-Protected Securities Fund Institutional Shares (VIPIX). 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.
| IPBAX | VIPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.34 | ||
| Sortino ratioReturn per unit of downside risk | +1.57 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.22 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 5.50 | 2.16 | +3.34 |
| Martin ratioReturn relative to average drawdown | 19.25 | 6.48 | +12.77 |
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Drawdowns
IPBAX vs. VIPIX - Drawdown Comparison
The maximum IPBAX drawdown since its inception was -15.13%, roughly equal to the maximum VIPIX drawdown of -15.04%. Use the drawdown chart below to compare losses from any high point for IPBAX and VIPIX.
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Drawdown Indicators
| IPBAX | VIPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.13% | -15.04% | -0.09% |
Max Drawdown (1Y)Largest decline over 1 year | -3.84% | -2.00% | -1.84% |
Max Drawdown (3Y)Largest decline over 3 years | -5.58% | -4.46% | -1.12% |
Max Drawdown (5Y)Largest decline over 5 years | -13.94% | -14.33% | +0.39% |
Max Drawdown (10Y)Largest decline over 10 years | -13.94% | -14.33% | +0.39% |
Current DrawdownCurrent decline from peak | -2.13% | -0.64% | -1.49% |
Average DrawdownAverage peak-to-trough decline | -3.13% | -3.35% | +0.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.09% | 0.66% | +0.43% |
Volatility
IPBAX vs. VIPIX - Volatility Comparison
Allspring Real Return Fund (IPBAX) has a higher volatility of 3.34% compared to Vanguard Inflation-Protected Securities Fund Institutional Shares (VIPIX) at 1.24%. This indicates that IPBAX's price experiences larger fluctuations and is considered to be riskier than VIPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IPBAX | VIPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.34% | 1.24% | +2.10% |
Volatility (6M)Calculated over the trailing 6-month period | 6.62% | 2.54% | +4.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.19% | 3.48% | +4.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.31% | 6.02% | +1.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.04% | 5.37% | +0.67% |
IPBAX vs. VIPIX - Expense Ratio Comparison
IPBAX has a 0.78% expense ratio, which is higher than VIPIX's 0.07% expense ratio.
Dividends
IPBAX vs. VIPIX - Dividend Comparison
IPBAX's dividend yield for the trailing twelve months is around 2.31%, less than VIPIX's 4.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IPBAX Allspring Real Return Fund | 2.31% | 2.58% | 2.26% | 3.71% | 5.07% | 3.84% | 1.26% | 2.12% | 2.57% | 1.96% | 1.77% | 2.13% |
VIPIX Vanguard Inflation-Protected Securities Fund Institutional Shares | 4.54% | 4.77% | 4.20% | 4.34% | 8.49% | 5.16% | 1.41% | 2.32% | 3.15% | 2.45% | 3.50% | 0.91% |
Frequently Asked Questions
IPBAX and VIPIX have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IPBAX has higher volatility (3.34%) compared to VIPIX (1.24%). In terms of maximum drawdown, IPBAX dropped -15.13% vs VIPIX's -15.04%.
IPBAX currently has the higher Sharpe Ratio (2.58 vs 1.24), 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.
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