THOPX vs. ERC

Last updated Jun 3, 2026

THOPX (Thompson Bond Fund) is Short-Term Bond fund managed by Thompson IM, while ERC (Allspring Multi-Sector Income Fund) is a stock. Over the past 10 years, THOPX returned 4.11%/yr vs 6.51%/yr for ERC. At a 0.17 correlation, their price movements are largely independent.

Performance

THOPX vs. ERC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thompson Bond Fund (THOPX) and Allspring Multi-Sector Income Fund (ERC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, THOPX achieves a 0.95% return, which is significantly lower than ERC's 2.32% return. Over the past 10 years, THOPX has underperformed ERC with an annualized return of 4.11%, while ERC has yielded a comparatively higher 6.51% annualized return.

THOPX

• 1D: 0.00%
• 1M: 0.09%
• YTD: 0.95%
• 6M: 1.41%
• 1Y: 6.34%
• 3Y*: 8.97%
• 5Y*: 4.05%
• 10Y*: 4.11%

ERC

• 1D: -0.11%
• 1M: -0.07%
• YTD: 2.32%
• 6M: 2.23%
• 1Y: 7.82%
• 3Y*: 10.57%
• 5Y*: 2.14%
• 10Y*: 6.51%

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

THOPX vs. ERC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
THOPX Thompson Bond Fund	0.95%	7.98%	11.54%	6.98%	-7.28%	5.75%	-1.71%	5.56%	1.80%	4.75%
ERC Allspring Multi-Sector Income Fund	2.32%	11.10%	6.10%	4.88%	-17.77%	18.77%	4.36%	28.05%	-5.94%	11.99%

Correlation

The correlation between THOPX and ERC is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (10Y) Calculated over the trailing 10-year period	0.22
Correlation (All Time) Calculated using the full available price history since Jun 26, 2003	0.17

The correlation between THOPX and ERC shifts across timeframes, from 0.17 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

THOPX vs. ERC — Risk / Return Rank

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

THOPX

THOPX Risk / Return Rank: 92
THOPX Sharpe Ratio Rank: 95
THOPX Sortino Ratio Rank: 95
THOPX Omega Ratio Rank: 94
THOPX Calmar Ratio Rank: 88
THOPX Martin Ratio Rank: 89

ERC

ERC Risk / Return Rank: 64
ERC Sharpe Ratio Rank: 67
ERC Sortino Ratio Rank: 59
ERC Omega Ratio Rank: 59
ERC Calmar Ratio Rank: 63
ERC Martin Ratio Rank: 70

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.

THOPX vs. ERC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thompson Bond Fund (THOPX) and Allspring Multi-Sector Income Fund (ERC). 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.

	THOPX	ERC	Difference
Sharpe ratio Return per unit of total volatility	3.35	0.83	+2.52
Sortino ratio Return per unit of downside risk	5.15	1.27	+3.88
Omega ratio Gain probability vs. loss probability	1.76	1.16	+0.60
Calmar ratio Return relative to maximum drawdown	4.34	1.15	+3.19
Martin ratio Return relative to average drawdown	17.74	3.95	+13.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

THOPX vs. ERC - Sharpe Ratio Comparison

The current THOPX Sharpe Ratio is 3.35, which is higher than the ERC Sharpe Ratio of 0.83. The chart below compares the historical Sharpe Ratios of THOPX and ERC, 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

	THOPX	ERC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.35	0.83	+2.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.88	0.16	+1.72
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.87	0.41	+1.46
Sharpe Ratio (All Time) Calculated using the full available price history	1.25	0.40	+0.85

Drawdowns

THOPX vs. ERC - Drawdown Comparison

The maximum THOPX drawdown since its inception was -19.45%, smaller than the maximum ERC drawdown of -47.41%. Use the drawdown chart below to compare losses from any high point for THOPX and ERC.

Drawdown Indicators

	THOPX	ERC	Difference
Max Drawdown Largest peak-to-trough decline	-19.45%	-47.41%	+27.96%
Max Drawdown (1Y) Largest decline over 1 year	-1.48%	-6.88%	+5.40%
Max Drawdown (3Y) Largest decline over 3 years	-1.61%	-10.04%	+8.43%
Max Drawdown (5Y) Largest decline over 5 years	-8.00%	-33.65%	+25.65%
Max Drawdown (10Y) Largest decline over 10 years	-11.74%	-41.33%	+29.59%
Current Drawdown Current decline from peak	-0.36%	-0.84%	+0.48%
Average Drawdown Average peak-to-trough decline	-1.86%	-6.86%	+5.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.36%	2.01%	-1.65%

Volatility

THOPX vs. ERC - Volatility Comparison

The current volatility for Thompson Bond Fund (THOPX) is 0.84%, while Allspring Multi-Sector Income Fund (ERC) has a volatility of 2.73%. This indicates that THOPX experiences smaller price fluctuations and is considered to be less risky than ERC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	THOPX	ERC	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.84%	2.73%	-1.89%
Volatility (6M) Calculated over the trailing 6-month period	1.58%	7.07%	-5.49%
Volatility (1Y) Calculated over the trailing 1-year period	1.91%	9.44%	-7.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.16%	13.36%	-11.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.21%	15.84%	-13.63%

Dividends

THOPX vs. ERC - Dividend Comparison

THOPX's dividend yield for the trailing twelve months is around 5.11%, less than ERC's 9.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ERC Allspring Multi-Sector Income Fund	9.49%	9.35%	8.65%	8.44%	10.70%	8.51%	9.51%	9.35%	11.56%	9.66%	8.80%	13.67%
THOPX Thompson Bond Fund	5.11%	4.90%	5.34%	5.88%	3.93%	3.59%	5.16%	3.48%	3.07%	3.06%	4.24%	4.58%

Frequently Asked Questions

Can I hold both THOPX and ERC in my portfolio?

THOPX and ERC have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, THOPX or ERC?

ERC has higher volatility (2.73%) compared to THOPX (0.84%). In terms of maximum drawdown, THOPX dropped -19.45% vs ERC's -47.41%.

Which has better risk-adjusted returns?

THOPX currently has the higher Sharpe Ratio (3.35 vs 0.83), 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.