PRAIX vs. IPBAX
PRAIX (PIMCO Long-Term Real Return Fund) and IPBAX (Allspring Real Return Fund) are both Inflation-Protected Bonds funds. Over the past 10 years, PRAIX returned 0.18%/yr vs 4.35%/yr for IPBAX. Their 0.78 correlation means they have sometimes moved together and sometimes differently. PRAIX charges 0.50%/yr vs 0.78%/yr for IPBAX.
Performance
PRAIX vs. IPBAX - Performance Comparison
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Returns By Period
In the year-to-date period, PRAIX achieves a -4.92% return, which is significantly lower than IPBAX's 8.82% return. Over the past 10 years, PRAIX has underperformed IPBAX with an annualized return of 0.18%, while IPBAX has yielded a comparatively higher 4.35% annualized return.
PRAIX
- 1D
- -0.47%
- 1M
- -4.61%
- 6M
- -4.26%
- YTD
- -4.92%
- 1Y
- -2.85%
- 3Y*
- -1.40%
- 5Y*
- -7.98%
- 10Y*
- 0.18%
- ALL TIME*
- 4.50%
IPBAX
- 1D
- 0.18%
- 1M
- -1.89%
- 6M
- 2.91%
- YTD
- 8.82%
- 1Y
- 15.95%
- 3Y*
- 10.09%
- 5Y*
- 4.61%
- 10Y*
- 4.35%
- ALL TIME*
- 4.11%
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 |
PRAIX vs. IPBAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRAIX PIMCO Long-Term Real Return Fund | -4.92% | 5.26% | -4.11% | 0.14% | -33.83% | 7.21% | 27.16% | 19.62% | -6.49% | 8.84% |
IPBAX Allspring Real Return Fund | 8.82% | 10.37% | 8.12% | 5.35% | -10.75% | 7.74% | 8.03% | 9.87% | -4.02% | 4.07% |
Correlation
The correlation between PRAIX and IPBAX is 0.25, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.25 |
Correlation (3Y) Balances recent behavior with more history. | 0.45 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.59 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.61 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2003 | 0.78 |
Over the past year, the correlation between PRAIX and IPBAX has dropped to 0.25 - well below their long-term average of 0.78, suggesting their price drivers have been diverging.
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Return for Risk
PRAIX vs. IPBAX — Risk / Return Rank
PRAIX
IPBAX
PRAIX vs. IPBAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Long-Term Real Return Fund (PRAIX) 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.
| PRAIX | IPBAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.96 | ||
| Sortino ratioReturn per unit of downside risk | -2.58 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.31 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.23 | 2.40 | -2.63 |
| Martin ratioReturn relative to average drawdown | -0.52 | 8.32 | -8.84 |
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Drawdowns
PRAIX vs. IPBAX - Drawdown Comparison
The maximum PRAIX drawdown since its inception was -43.52%, which is greater than IPBAX's maximum drawdown of -15.13%. Use the drawdown chart below to compare losses from any high point for PRAIX and IPBAX.
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Drawdown Indicators
| PRAIX | IPBAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.52% | -15.13% | -28.39% |
Max Drawdown (1Y)Largest decline over 1 year | -8.70% | -6.49% | -2.21% |
Max Drawdown (3Y)Largest decline over 3 years | -13.03% | -6.49% | -6.54% |
Max Drawdown (5Y)Largest decline over 5 years | -43.52% | -13.94% | -29.58% |
Max Drawdown (10Y)Largest decline over 10 years | -43.52% | -13.94% | -29.58% |
Current DrawdownCurrent decline from peak | -37.43% | -5.62% | -31.81% |
Average DrawdownAverage peak-to-trough decline | -10.42% | -3.14% | -7.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.90% | 1.87% | +2.03% |
Volatility
PRAIX vs. IPBAX - Volatility Comparison
The current volatility for PIMCO Long-Term Real Return Fund (PRAIX) is 2.09%, while Allspring Real Return Fund (IPBAX) has a volatility of 3.03%. This indicates that PRAIX 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.
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Volatility by Period
| PRAIX | IPBAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.09% | 3.03% | -0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 7.00% | 7.33% | -0.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.24% | 8.96% | +0.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.27% | 7.51% | +8.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.95% | 6.15% | +8.80% |
PRAIX vs. IPBAX - Expense Ratio Comparison
PRAIX has a 0.50% expense ratio, which is lower than IPBAX's 0.78% expense ratio.
Dividends
PRAIX vs. IPBAX - Dividend Comparison
PRAIX's dividend yield for the trailing twelve months is around 6.57%, less than IPBAX's 11.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IPBAX Allspring Real Return Fund | 11.99% | 2.58% | 2.26% | 3.71% | 5.07% | 3.84% | 1.26% | 2.12% | 2.57% | 1.96% | 1.77% | 2.13% |
PRAIX PIMCO Long-Term Real Return Fund | 6.57% | 5.72% | 4.64% | 4.75% | 12.40% | 15.85% | 37.88% | 7.20% | 3.06% | 2.76% | 1.54% | 2.05% |
Frequently Asked Questions
PRAIX and IPBAX 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.
IPBAX has higher volatility (3.03%) compared to PRAIX (2.09%). In terms of maximum drawdown, PRAIX dropped -43.52% vs IPBAX's -15.13%.
IPBAX currently has the higher Sharpe Ratio (1.74 vs -0.22), 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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