PONPX vs. STYAX

Last updated Jun 4, 2026

PONPX (PIMCO Income Fund Class I-2) and STYAX (Allspring Core Plus Bond Fund) are both mutual funds - PONPX is a Total Bond Market fund managed by PIMCO, while STYAX is a Intermediate Core-Plus Bond fund managed by Allspring Global Investments. Over the past 10 years, PONPX returned 4.60%/yr vs 2.49%/yr for STYAX. A 0.60 correlation means they provide meaningful diversification when combined. PONPX charges 0.72%/yr vs 0.69%/yr for STYAX.

Performance

PONPX vs. STYAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Income Fund Class I-2 (PONPX) and Allspring Core Plus Bond Fund (STYAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PONPX achieves a 0.96% return, which is significantly higher than STYAX's 0.45% return. Over the past 10 years, PONPX has outperformed STYAX with an annualized return of 4.60%, while STYAX has yielded a comparatively lower 2.49% annualized return.

PONPX

• 1D: 0.18%
• 1M: 0.90%
• YTD: 0.96%
• 6M: 1.36%
• 1Y: 8.28%
• 3Y*: 7.76%
• 5Y*: 3.42%
• 10Y*: 4.60%

STYAX

• 1D: 0.09%
• 1M: 0.62%
• YTD: 0.45%
• 6M: 0.38%
• 1Y: 5.62%
• 3Y*: 4.42%
• 5Y*: 0.23%
• 10Y*: 2.49%

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

PONPX vs. STYAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PONPX PIMCO Income Fund Class I-2	0.96%	10.96%	5.33%	9.24%	-9.14%	2.51%	5.73%	7.99%	0.53%	8.52%
STYAX Allspring Core Plus Bond Fund	0.45%	7.03%	2.05%	6.45%	-14.29%	-0.16%	11.30%	9.11%	-0.52%	5.33%

Correlation

The correlation between PONPX and STYAX is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since Jan 5, 2009	0.60

Over the past year, PONPX and STYAX have become more correlated (0.87) than their long-term average of 0.60, meaning their price movements have been converging.

Return for Risk

PONPX vs. STYAX — Risk / Return Rank

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

PONPX

PONPX Risk / Return Rank: 44
PONPX Sharpe Ratio Rank: 47
PONPX Sortino Ratio Rank: 52
PONPX Omega Ratio Rank: 51
PONPX Calmar Ratio Rank: 36
PONPX Martin Ratio Rank: 35

STYAX

STYAX Risk / Return Rank: 27
STYAX Sharpe Ratio Rank: 28
STYAX Sortino Ratio Rank: 29
STYAX Omega Ratio Rank: 28
STYAX Calmar Ratio Rank: 28
STYAX Martin Ratio Rank: 24

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.

PONPX vs. STYAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Income Fund Class I-2 (PONPX) and Allspring Core Plus Bond Fund (STYAX). 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.

	PONPX	STYAX	Difference
Sharpe ratio: Return per unit of total volatility	2.02	1.51	+0.50
Sortino ratio: Return per unit of downside risk	3.03	2.25	+0.78
Omega ratio: Gain probability vs. loss probability	1.39	1.28	+0.11
Calmar ratio: Return relative to maximum drawdown	2.26	1.99	+0.27
Martin ratio: Return relative to average drawdown	7.83	5.97	+1.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PONPX vs. STYAX - Sharpe Ratio Comparison

The current PONPX Sharpe Ratio is 2.02, which is higher than the STYAX Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of PONPX and STYAX, 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

	PONPX	STYAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.02	1.51	+0.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.04	+0.67
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.09	0.53	+0.56
Sharpe Ratio (All Time) Calculated using the full available price history	1.83	1.01	+0.82

Drawdowns

PONPX vs. STYAX - Drawdown Comparison

The maximum PONPX drawdown since its inception was -13.41%, smaller than the maximum STYAX drawdown of -18.83%. Use the drawdown chart below to compare losses from any high point for PONPX and STYAX.

Drawdown Indicators

	PONPX	STYAX	Difference
Max Drawdown Largest peak-to-trough decline	-13.41%	-18.83%	+5.42%
Max Drawdown (1Y) Largest decline over 1 year	-3.69%	-2.83%	-0.86%
Max Drawdown (3Y) Largest decline over 3 years	-3.86%	-6.13%	+2.27%
Max Drawdown (5Y) Largest decline over 5 years	-13.41%	-18.83%	+5.42%
Max Drawdown (10Y) Largest decline over 10 years	-13.41%	-18.83%	+5.42%
Current Drawdown Current decline from peak	-0.96%	-1.35%	+0.39%
Average Drawdown Average peak-to-trough decline	-1.45%	-2.39%	+0.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.06%	0.94%	+0.12%

Volatility

PONPX vs. STYAX - Volatility Comparison

PIMCO Income Fund Class I-2 (PONPX) has a higher volatility of 1.68% compared to Allspring Core Plus Bond Fund (STYAX) at 1.43%. This indicates that PONPX's price experiences larger fluctuations and is considered to be riskier than STYAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PONPX	STYAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.68%	1.43%	+0.25%
Volatility (6M) Calculated over the trailing 6-month period	3.28%	2.69%	+0.59%
Volatility (1Y) Calculated over the trailing 1-year period	4.14%	3.74%	+0.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.83%	5.66%	-0.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.24%	4.69%	-0.45%

PONPX vs. STYAX - Expense Ratio Comparison

PONPX has a 0.72% expense ratio, which is higher than STYAX's 0.69% expense ratio.

Dividends

PONPX vs. STYAX - Dividend Comparison

PONPX's dividend yield for the trailing twelve months is around 5.73%, more than STYAX's 4.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PONPX PIMCO Income Fund Class I-2	5.73%	5.91%	6.16%	6.11%	4.89%	3.92%	4.78%	5.73%	5.56%	5.27%	5.42%	7.77%
STYAX Allspring Core Plus Bond Fund	4.53%	4.52%	4.58%	3.94%	2.48%	2.39%	5.18%	3.67%	2.70%	2.61%	2.81%	2.23%

Frequently Asked Questions

Can I hold both PONPX and STYAX in my portfolio?

PONPX and STYAX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PONPX or STYAX?

PONPX has higher volatility (1.68%) compared to STYAX (1.43%). In terms of maximum drawdown, PONPX dropped -13.41% vs STYAX's -18.83%.

Which has better risk-adjusted returns?

PONPX currently has the higher Sharpe Ratio (2.02 vs 1.51), 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.