NIFAX vs. IPBAX
NIFAX (Nationwide Inflation-Protected Securities Fund) and IPBAX (Allspring Real Return Fund) are both Inflation-Protected Bonds funds. Over the past 10 years, NIFAX returned 2.28%/yr vs 4.29%/yr for IPBAX. Their 0.69 correlation means they have sometimes moved together and sometimes differently. NIFAX charges 0.72%/yr vs 0.78%/yr for IPBAX.
Performance
NIFAX vs. IPBAX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, NIFAX achieves a 0.12% return, which is significantly lower than IPBAX's 8.62% return. Over the past 10 years, NIFAX has underperformed IPBAX with an annualized return of 2.28%, while IPBAX has yielded a comparatively higher 4.29% annualized return.
NIFAX
- 1D
- 0.00%
- 1M
- -0.68%
- 6M
- -0.22%
- YTD
- 0.12%
- 1Y
- 1.26%
- 3Y*
- 3.16%
- 5Y*
- -0.21%
- 10Y*
- 2.28%
- ALL TIME*
- 1.59%
IPBAX
- 1D
- 0.74%
- 1M
- -2.07%
- 6M
- 2.02%
- YTD
- 8.62%
- 1Y
- 15.74%
- 3Y*
- 9.84%
- 5Y*
- 4.57%
- 10Y*
- 4.29%
- ALL TIME*
- 4.10%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
NIFAX vs. IPBAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NIFAX Nationwide Inflation-Protected Securities Fund | 0.12% | 6.32% | 1.45% | 3.61% | -12.59% | 4.69% | 10.66% | 12.06% | -1.87% | 2.60% |
IPBAX Allspring Real Return Fund | 8.62% | 10.37% | 8.12% | 5.35% | -10.75% | 7.74% | 8.03% | 9.87% | -4.02% | 4.07% |
Correlation
The correlation between NIFAX and IPBAX is 0.26, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.26 |
Correlation (3Y) Balances recent behavior with more history. | 0.46 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.63 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.64 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013 | 0.69 |
Over the past year, the correlation between NIFAX and IPBAX has dropped to 0.26 - well below their long-term average of 0.69, suggesting their price drivers have been diverging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
NIFAX vs. IPBAX — Risk / Return Rank
NIFAX
IPBAX
NIFAX vs. IPBAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nationwide Inflation-Protected Securities Fund (NIFAX) 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.
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.
| NIFAX | IPBAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.05 | ||
| Sortino ratioReturn per unit of downside risk | -1.33 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.30 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 0.93 | 2.28 | -1.36 |
| Martin ratioReturn relative to average drawdown | 2.40 | 8.07 | -5.66 |
Loading charts...
Drawdowns
NIFAX vs. IPBAX - Drawdown Comparison
The maximum NIFAX drawdown since its inception was -15.19%, roughly equal to the maximum IPBAX drawdown of -15.13%. Use the drawdown chart below to compare losses from any high point for NIFAX and IPBAX.
Loading charts...
Drawdown Indicators
| NIFAX | IPBAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.19% | -15.13% | -0.06% |
Max Drawdown (1Y)Largest decline over 1 year | -1.98% | -6.49% | +4.51% |
Max Drawdown (3Y)Largest decline over 3 years | -3.85% | -6.49% | +2.64% |
Max Drawdown (5Y)Largest decline over 5 years | -15.19% | -13.94% | -1.25% |
Max Drawdown (10Y)Largest decline over 10 years | -15.19% | -13.94% | -1.25% |
Current DrawdownCurrent decline from peak | -2.88% | -5.80% | +2.92% |
Average DrawdownAverage peak-to-trough decline | -4.81% | -3.14% | -1.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.76% | 1.83% | -1.07% |
Volatility
NIFAX vs. IPBAX - Volatility Comparison
The current volatility for Nationwide Inflation-Protected Securities Fund (NIFAX) is 0.71%, while Allspring Real Return Fund (IPBAX) has a volatility of 3.05%. This indicates that NIFAX 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.
Loading charts...
Volatility by Period
| NIFAX | IPBAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.71% | 3.05% | -2.34% |
Volatility (6M)Calculated over the trailing 6-month period | 2.29% | 7.33% | -5.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.08% | 8.97% | -5.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.84% | 7.51% | -1.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.37% | 6.16% | -0.79% |
NIFAX vs. IPBAX - Expense Ratio Comparison
NIFAX has a 0.72% expense ratio, which is lower than IPBAX's 0.78% expense ratio.
Dividends
NIFAX vs. IPBAX - Dividend Comparison
NIFAX's dividend yield for the trailing twelve months is around 4.41%, less than IPBAX's 12.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IPBAX Allspring Real Return Fund | 12.01% | 2.58% | 2.26% | 3.71% | 5.07% | 3.84% | 1.26% | 2.12% | 2.57% | 1.96% | 1.77% | 2.13% |
NIFAX Nationwide Inflation-Protected Securities Fund | 4.41% | 3.99% | 3.17% | 3.90% | 6.60% | 5.29% | 0.94% | 4.94% | 1.79% | 1.65% | 0.00% | 0.00% |
Frequently Asked Questions
NIFAX and IPBAX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IPBAX has higher volatility (3.05%) compared to NIFAX (0.71%). In terms of maximum drawdown, NIFAX dropped -15.19% vs IPBAX's -15.13%.
IPBAX currently has the higher Sharpe Ratio (1.65 vs 0.60), 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.
Find the right allocation for NIFAX and IPBAX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer