SSHIX vs. FIPDX

Last updated Jun 25, 2026

SSHIX (Allspring Short-Term Bond Plus Fund) and FIPDX (Fidelity Inflation-Protected Bond Index Fund) are both mutual funds - SSHIX is a Short-Term Bond fund managed by Allspring Global Investments, while FIPDX is a Inflation-Protected Bonds fund tracking the Bloomberg US Treasury Inflation-Protected Securities Index. Over the past 10 years, SSHIX returned 2.65%/yr vs 2.52%/yr for FIPDX. A 0.52 correlation means they provide meaningful diversification when combined. SSHIX charges 0.47%/yr vs 0.05%/yr for FIPDX.

Performance

SSHIX vs. FIPDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allspring Short-Term Bond Plus Fund (SSHIX) and Fidelity Inflation-Protected Bond Index Fund (FIPDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SSHIX achieves a 0.73% return, which is significantly lower than FIPDX's 0.78% return. Both investments have delivered pretty close results over the past 10 years, with SSHIX having a 2.65% annualized return and FIPDX not far behind at 2.52%.

SSHIX

• 1D: 0.12%
• 1M: 0.35%
• YTD: 0.73%
• 6M: 0.85%
• 1Y: 3.64%
• 3Y*: 5.27%
• 5Y*: 2.46%
• 10Y*: 2.65%

FIPDX

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.78%
• 6M: 0.67%
• 1Y: 3.42%
• 3Y*: 3.67%
• 5Y*: 0.98%
• 10Y*: 2.52%

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

SSHIX vs. FIPDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SSHIX Allspring Short-Term Bond Plus Fund	0.73%	5.59%	5.41%	6.19%	-4.87%	0.16%	6.02%	4.80%	1.41%	1.31%
FIPDX Fidelity Inflation-Protected Bond Index Fund	0.78%	6.90%	2.00%	3.77%	-12.09%	5.94%	10.90%	8.32%	-1.37%	2.98%

Correlation

The correlation between SSHIX and FIPDX is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (10Y) Calculated over the trailing 10-year period	0.54
Correlation (All Time) Calculated using the full available price history since May 10, 2012	0.52

The correlation between SSHIX and FIPDX shifts across timeframes, from 0.52 (all time) to 0.66 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

SSHIX vs. FIPDX — Risk / Return Rank

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

SSHIX

SSHIX Risk / Return Rank: 80
SSHIX Sharpe Ratio Rank: 91
SSHIX Sortino Ratio Rank: 93
SSHIX Omega Ratio Rank: 95
SSHIX Calmar Ratio Rank: 58
SSHIX Martin Ratio Rank: 63

FIPDX

FIPDX Risk / Return Rank: 20
FIPDX Sharpe Ratio Rank: 16
FIPDX Sortino Ratio Rank: 17
FIPDX Omega Ratio Rank: 16
FIPDX Calmar Ratio Rank: 28
FIPDX 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.

SSHIX vs. FIPDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allspring Short-Term Bond Plus Fund (SSHIX) and Fidelity Inflation-Protected Bond Index Fund (FIPDX). 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.

	SSHIX	FIPDX	Difference
Sharpe ratio: Return per unit of total volatility	2.77	1.06	+1.71
Sortino ratio: Return per unit of downside risk	4.39	1.56	+2.83
Omega ratio: Gain probability vs. loss probability	1.73	1.19	+0.54
Calmar ratio: Return relative to maximum drawdown	2.73	1.83	+0.90
Martin ratio: Return relative to average drawdown	11.48	5.27	+6.21

SSHIX vs. FIPDX - Sharpe Ratio Comparison

The current SSHIX Sharpe Ratio is 2.77, which is higher than the FIPDX Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of SSHIX and FIPDX, 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

SSHIX vs. FIPDX - Drawdown Comparison

The maximum SSHIX drawdown since its inception was -7.13%, smaller than the maximum FIPDX drawdown of -14.32%. Use the drawdown chart below to compare losses from any high point for SSHIX and FIPDX.

Drawdown Indicators

	SSHIX	FIPDX	Difference
Max Drawdown Largest peak-to-trough decline	-7.13%	-14.32%	+7.19%
Max Drawdown (1Y) Largest decline over 1 year	-1.39%	-1.94%	+0.55%
Max Drawdown (3Y) Largest decline over 3 years	-1.39%	-4.49%	+3.10%
Max Drawdown (5Y) Largest decline over 5 years	-7.13%	-14.32%	+7.19%
Max Drawdown (10Y) Largest decline over 10 years	-7.13%	-14.32%	+7.19%
Current Drawdown Current decline from peak	-0.17%	-0.97%	+0.80%
Average Drawdown Average peak-to-trough decline	-0.62%	-4.45%	+3.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.33%	0.67%	-0.34%

Volatility

SSHIX vs. FIPDX - Volatility Comparison

The current volatility for Allspring Short-Term Bond Plus Fund (SSHIX) is 0.46%, while Fidelity Inflation-Protected Bond Index Fund (FIPDX) has a volatility of 1.13%. This indicates that SSHIX experiences smaller price fluctuations and is considered to be less risky than FIPDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SSHIX	FIPDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.46%	1.13%	-0.67%
Volatility (6M) Calculated over the trailing 6-month period	1.06%	2.41%	-1.35%
Volatility (1Y) Calculated over the trailing 1-year period	1.37%	3.35%	-1.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.08%	5.97%	-3.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.86%	5.37%	-3.51%

SSHIX vs. FIPDX - Expense Ratio Comparison

SSHIX has a 0.47% expense ratio, which is higher than FIPDX's 0.05% expense ratio.

Dividends

SSHIX vs. FIPDX - Dividend Comparison

SSHIX's dividend yield for the trailing twelve months is around 3.84%, which matches FIPDX's 3.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIPDX Fidelity Inflation-Protected Bond Index Fund	3.82%	4.18%	3.75%	3.56%	8.87%	4.76%	1.24%	1.97%	2.26%	1.29%	1.34%	0.38%
SSHIX Allspring Short-Term Bond Plus Fund	3.84%	4.27%	4.43%	3.92%	1.92%	2.31%	3.14%	2.61%	2.21%	1.65%	1.58%	1.70%

Frequently Asked Questions

Can I hold both SSHIX and FIPDX in my portfolio?

SSHIX and FIPDX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SSHIX or FIPDX?

FIPDX has higher volatility (1.13%) compared to SSHIX (0.46%). In terms of maximum drawdown, SSHIX dropped -7.13% vs FIPDX's -14.32%.

Which has better risk-adjusted returns?

SSHIX currently has the higher Sharpe Ratio (2.77 vs 1.06), 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.