MNTRX vs. WATIX

Last updated Jun 4, 2026

MNTRX (Allspring Core Bond Fund) and WATIX (Western Asset Intermediate Bond Fund) are both Intermediate Core Bond funds. Over the past 10 years, MNTRX returned 1.43%/yr vs 1.88%/yr for WATIX. Their correlation of 0.88 suggests significant overlap in exposure. MNTRX charges 0.70%/yr vs 0.56%/yr for WATIX.

Performance

MNTRX vs. WATIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allspring Core Bond Fund (MNTRX) and Western Asset Intermediate Bond Fund (WATIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MNTRX achieves a 0.29% return, which is significantly higher than WATIX's -0.01% return. Over the past 10 years, MNTRX has underperformed WATIX with an annualized return of 1.43%, while WATIX has yielded a comparatively higher 1.88% annualized return.

MNTRX

• 1D: 0.00%
• 1M: 0.52%
• YTD: 0.29%
• 6M: 0.18%
• 1Y: 5.25%
• 3Y*: 3.88%
• 5Y*: -0.10%
• 10Y*: 1.43%

WATIX

• 1D: 0.00%
• 1M: 0.27%
• YTD: -0.01%
• 6M: 0.04%
• 1Y: 4.02%
• 3Y*: 4.05%
• 5Y*: 0.28%
• 10Y*: 1.88%

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

MNTRX vs. WATIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MNTRX Allspring Core Bond Fund	0.29%	7.16%	1.38%	5.37%	-13.82%	-2.10%	8.51%	8.18%	-0.57%	3.28%
WATIX Western Asset Intermediate Bond Fund	-0.01%	7.35%	2.10%	5.54%	-11.83%	-2.15%	7.33%	8.06%	0.21%	4.02%

Correlation

The correlation between MNTRX and WATIX is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Jul 1, 1997	0.88

The correlation between MNTRX and WATIX has been stable across timeframes, ranging from 0.85 to 0.91 - a consistent structural relationship.

Return for Risk

MNTRX vs. WATIX — Risk / Return Rank

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

MNTRX

MNTRX Risk / Return Rank: 21
MNTRX Sharpe Ratio Rank: 22
MNTRX Sortino Ratio Rank: 22
MNTRX Omega Ratio Rank: 20
MNTRX Calmar Ratio Rank: 22
MNTRX Martin Ratio Rank: 20

WATIX

WATIX Risk / Return Rank: 21
WATIX Sharpe Ratio Rank: 21
WATIX Sortino Ratio Rank: 23
WATIX Omega Ratio Rank: 21
WATIX Calmar Ratio Rank: 20
WATIX Martin Ratio Rank: 20

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.

MNTRX vs. WATIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allspring Core Bond Fund (MNTRX) and Western Asset Intermediate Bond Fund (WATIX). 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.

	MNTRX	WATIX	Difference
Sharpe ratio: Return per unit of total volatility	1.33	1.32	+0.01
Sortino ratio: Return per unit of downside risk	1.98	2.04	-0.06
Omega ratio: Gain probability vs. loss probability	1.24	1.24	0.00
Calmar ratio: Return relative to maximum drawdown	1.72	1.63	+0.09
Martin ratio: Return relative to average drawdown	5.28	5.24	+0.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MNTRX vs. WATIX - Sharpe Ratio Comparison

The current MNTRX Sharpe Ratio is 1.33, which is comparable to the WATIX Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of MNTRX and WATIX, 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

	MNTRX	WATIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.33	1.32	+0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.02	0.06	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.29	0.50	-0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	0.97	-0.05

Drawdowns

MNTRX vs. WATIX - Drawdown Comparison

The maximum MNTRX drawdown since its inception was -19.36%, which is greater than WATIX's maximum drawdown of -16.72%. Use the drawdown chart below to compare losses from any high point for MNTRX and WATIX.

Drawdown Indicators

	MNTRX	WATIX	Difference
Max Drawdown Largest peak-to-trough decline	-19.36%	-16.72%	-2.64%
Max Drawdown (1Y) Largest decline over 1 year	-3.06%	-2.41%	-0.65%
Max Drawdown (3Y) Largest decline over 3 years	-6.27%	-3.92%	-2.35%
Max Drawdown (5Y) Largest decline over 5 years	-18.91%	-16.35%	-2.56%
Max Drawdown (10Y) Largest decline over 10 years	-19.36%	-16.72%	-2.64%
Current Drawdown Current decline from peak	-3.14%	-1.06%	-2.08%
Average Drawdown Average peak-to-trough decline	-2.46%	-1.78%	-0.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.00%	0.75%	+0.25%

Volatility

MNTRX vs. WATIX - Volatility Comparison

Allspring Core Bond Fund (MNTRX) has a higher volatility of 1.38% compared to Western Asset Intermediate Bond Fund (WATIX) at 0.97%. This indicates that MNTRX's price experiences larger fluctuations and is considered to be riskier than WATIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MNTRX	WATIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.38%	0.97%	+0.41%
Volatility (6M) Calculated over the trailing 6-month period	2.89%	2.14%	+0.75%
Volatility (1Y) Calculated over the trailing 1-year period	3.98%	2.97%	+1.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.04%	4.52%	+1.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.96%	3.80%	+1.16%

MNTRX vs. WATIX - Expense Ratio Comparison

MNTRX has a 0.70% expense ratio, which is higher than WATIX's 0.56% expense ratio.

Dividends

MNTRX vs. WATIX - Dividend Comparison

MNTRX's dividend yield for the trailing twelve months is around 4.06%, more than WATIX's 3.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MNTRX Allspring Core Bond Fund	4.06%	4.07%	4.13%	3.19%	1.85%	1.75%	6.35%	2.46%	2.33%	1.74%	1.97%	1.45%
WATIX Western Asset Intermediate Bond Fund	3.66%	3.86%	3.02%	3.04%	2.11%	1.88%	4.88%	3.23%	2.80%	2.37%	4.30%	3.18%

Frequently Asked Questions

Can I hold both MNTRX and WATIX in my portfolio?

MNTRX and WATIX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MNTRX or WATIX?

MNTRX has higher volatility (1.38%) compared to WATIX (0.97%). In terms of maximum drawdown, MNTRX dropped -19.36% vs WATIX's -16.72%.

Which has better risk-adjusted returns?

MNTRX currently has the higher Sharpe Ratio (1.33 vs 1.32), 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.