SFAAX vs. VBINX

Last updated Jun 23, 2026

SFAAX (Allspring Index Asset Allocation Fund) and VBINX (Vanguard Balanced Index Fund) are both Diversified Portfolio funds. Over the past 10 years, SFAAX returned 9.35%/yr vs 9.93%/yr for VBINX. With a 0.96 correlation, they move nearly in lockstep. SFAAX charges 1.08%/yr vs 0.18%/yr for VBINX.

Performance

SFAAX vs. VBINX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allspring Index Asset Allocation Fund (SFAAX) and Vanguard Balanced Index Fund (VBINX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SFAAX achieves a 6.10% return, which is significantly lower than VBINX's 6.64% return. Over the past 10 years, SFAAX has underperformed VBINX with an annualized return of 9.35%, while VBINX has yielded a comparatively higher 9.93% annualized return.

SFAAX

• 1D: 0.78%
• 1M: 0.32%
• YTD: 6.10%
• 6M: 5.71%
• 1Y: 17.17%
• 3Y*: 13.03%
• 5Y*: 7.43%
• 10Y*: 9.35%

VBINX

• 1D: 0.78%
• 1M: 0.87%
• YTD: 6.64%
• 6M: 6.23%
• 1Y: 18.06%
• 3Y*: 15.03%
• 5Y*: 8.31%
• 10Y*: 9.93%

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

SFAAX vs. VBINX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SFAAX Allspring Index Asset Allocation Fund	6.10%	11.39%	14.61%	16.64%	-17.03%	15.76%	16.21%	21.52%	-2.82%	12.25%
VBINX Vanguard Balanced Index Fund	6.64%	13.46%	17.63%	17.41%	-16.98%	13.62%	16.26%	21.67%	-2.97%	13.75%

Correlation

The correlation between SFAAX and VBINX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since Sep 28, 1992	0.96

The correlation between SFAAX and VBINX has been stable across timeframes, ranging from 0.96 to 0.99 - a consistent structural relationship.

Return for Risk

SFAAX vs. VBINX — Risk / Return Rank

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

SFAAX

SFAAX Risk / Return Rank: 59
SFAAX Sharpe Ratio Rank: 55
SFAAX Sortino Ratio Rank: 52
SFAAX Omega Ratio Rank: 53
SFAAX Calmar Ratio Rank: 67
SFAAX Martin Ratio Rank: 69

VBINX

VBINX Risk / Return Rank: 68
VBINX Sharpe Ratio Rank: 63
VBINX Sortino Ratio Rank: 64
VBINX Omega Ratio Rank: 62
VBINX Calmar Ratio Rank: 70
VBINX Martin Ratio Rank: 79

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.

SFAAX vs. VBINX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allspring Index Asset Allocation Fund (SFAAX) and Vanguard Balanced Index Fund (VBINX). 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.

	SFAAX	VBINX	Difference
Sharpe ratio: Return per unit of total volatility	2.01	2.15	-0.15
Sortino ratio: Return per unit of downside risk	2.80	3.04	-0.24
Omega ratio: Gain probability vs. loss probability	1.37	1.40	-0.03
Calmar ratio: Return relative to maximum drawdown	3.01	3.09	-0.08
Martin ratio: Return relative to average drawdown	12.50	13.68	-1.18

SFAAX vs. VBINX - Sharpe Ratio Comparison

The current SFAAX Sharpe Ratio is 2.01, which is comparable to the VBINX Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of SFAAX and VBINX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SFAAX vs. VBINX - Drawdown Comparison

The maximum SFAAX drawdown since its inception was -47.78%, which is greater than VBINX's maximum drawdown of -35.97%. Use the drawdown chart below to compare losses from any high point for SFAAX and VBINX.

Drawdown Indicators

	SFAAX	VBINX	Difference
Max Drawdown Largest peak-to-trough decline	-47.78%	-35.97%	-11.81%
Max Drawdown (1Y) Largest decline over 1 year	-5.69%	-5.84%	+0.15%
Max Drawdown (3Y) Largest decline over 3 years	-11.69%	-11.60%	-0.09%
Max Drawdown (5Y) Largest decline over 5 years	-24.32%	-21.61%	-2.71%
Max Drawdown (10Y) Largest decline over 10 years	-24.32%	-22.78%	-1.54%
Current Drawdown Current decline from peak	-0.98%	-0.64%	-0.34%
Average Drawdown Average peak-to-trough decline	-5.84%	-4.14%	-1.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.37%	1.31%	+0.06%

Volatility

SFAAX vs. VBINX - Volatility Comparison

Allspring Index Asset Allocation Fund (SFAAX) and Vanguard Balanced Index Fund (VBINX) have volatilities of 3.38% and 3.32%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SFAAX	VBINX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.38%	3.32%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	6.71%	6.73%	-0.02%
Volatility (1Y) Calculated over the trailing 1-year period	8.54%	8.37%	+0.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.43%	11.17%	+0.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.43%	11.27%	+0.16%

SFAAX vs. VBINX - Expense Ratio Comparison

SFAAX has a 1.08% expense ratio, which is higher than VBINX's 0.18% expense ratio.

Dividends

SFAAX vs. VBINX - Dividend Comparison

SFAAX's dividend yield for the trailing twelve months is around 11.93%, more than VBINX's 5.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SFAAX Allspring Index Asset Allocation Fund	11.93%	12.65%	12.74%	7.46%	4.98%	5.92%	3.77%	3.60%	3.88%	1.27%	1.66%	6.34%
VBINX Vanguard Balanced Index Fund	5.14%	5.89%	7.88%	4.25%	2.71%	2.71%	2.54%	2.19%	2.20%	1.83%	1.97%	1.95%

Frequently Asked Questions

Can I hold both SFAAX and VBINX in my portfolio?

With a correlation of 0.99, SFAAX and VBINX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SFAAX or VBINX?

SFAAX has higher volatility (3.38%) compared to VBINX (3.32%). In terms of maximum drawdown, SFAAX dropped -47.78% vs VBINX's -35.97%.

Which has better risk-adjusted returns?

VBINX currently has the higher Sharpe Ratio (2.15 vs 2.01), 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.