VMPAX vs. SCVAX
VMPAX (Allspring Strategic Municipal Bond Fund) and SCVAX (Allspring Small Company Value Fund) are both mutual funds - VMPAX is a Municipal Bonds fund managed by Allspring Global Investments, while SCVAX is a Small Cap Value Equities fund managed by Allspring Global Investments. Over the past 10 years, VMPAX returned 2.34%/yr vs 10.18%/yr for SCVAX. At a correlation of -0.04, they often move in opposite directions. VMPAX charges 0.79%/yr vs 1.15%/yr for SCVAX.
Performance
VMPAX vs. SCVAX - Performance Comparison
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Returns By Period
In the year-to-date period, VMPAX achieves a 1.31% return, which is significantly lower than SCVAX's 18.58% return. Over the past 10 years, VMPAX has underperformed SCVAX with an annualized return of 2.34%, while SCVAX has yielded a comparatively higher 10.18% annualized return.
VMPAX
- 1D
- 0.00%
- 1M
- 0.90%
- YTD
- 1.31%
- 6M
- 1.53%
- 1Y
- 4.73%
- 3Y*
- 4.77%
- 5Y*
- 2.16%
- 10Y*
- 2.34%
SCVAX
- 1D
- 1.50%
- 1M
- 2.72%
- YTD
- 18.58%
- 6M
- 15.59%
- 1Y
- 28.85%
- 3Y*
- 13.99%
- 5Y*
- 7.95%
- 10Y*
- 10.18%
VMPAX vs. SCVAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VMPAX Allspring Strategic Municipal Bond Fund | 1.31% | 3.54% | 5.44% | 6.56% | -5.68% | 0.90% | 3.13% | 4.67% | 2.02% | 3.14% |
SCVAX Allspring Small Company Value Fund | 18.58% | 1.75% | 8.22% | 15.19% | -12.13% | 36.81% | 1.99% | 22.20% | -14.18% | 11.58% |
Correlation
The correlation between VMPAX and SCVAX is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 1998 | -0.04 |
The correlation between VMPAX and SCVAX shifts across timeframes, from -0.04 (all time) to 0.17 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VMPAX vs. SCVAX — Risk / Return Rank
VMPAX
SCVAX
VMPAX vs. SCVAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Allspring Strategic Municipal Bond Fund (VMPAX) and Allspring Small Company Value Fund (SCVAX). 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.
| VMPAX | SCVAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.09 | ||
| Sortino ratioReturn per unit of downside risk | +2.02 | ||
| Omega ratioGain probability vs. loss probability | 1.82 | 1.29 | +0.53 |
| Calmar ratioReturn relative to maximum drawdown | 2.52 | 3.51 | -0.99 |
| Martin ratioReturn relative to average drawdown | 8.52 | 10.82 | -2.30 |
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Drawdowns
VMPAX vs. SCVAX - Drawdown Comparison
The maximum VMPAX drawdown since its inception was -8.62%, smaller than the maximum SCVAX drawdown of -70.30%. Use the drawdown chart below to compare losses from any high point for VMPAX and SCVAX.
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Drawdown Indicators
| VMPAX | SCVAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.62% | -70.30% | +61.68% |
Max Drawdown (1Y)Largest decline over 1 year | -1.89% | -8.21% | +6.32% |
Max Drawdown (3Y)Largest decline over 3 years | -3.16% | -26.83% | +23.67% |
Max Drawdown (5Y)Largest decline over 5 years | -8.62% | -26.83% | +18.21% |
Max Drawdown (10Y)Largest decline over 10 years | -8.62% | -46.64% | +38.02% |
Current DrawdownCurrent decline from peak | -0.34% | -1.07% | +0.73% |
Average DrawdownAverage peak-to-trough decline | -0.61% | -10.59% | +9.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | 2.66% | -2.10% |
Volatility
VMPAX vs. SCVAX - Volatility Comparison
The current volatility for Allspring Strategic Municipal Bond Fund (VMPAX) is 0.48%, while Allspring Small Company Value Fund (SCVAX) has a volatility of 4.87%. This indicates that VMPAX experiences smaller price fluctuations and is considered to be less risky than SCVAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VMPAX | SCVAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.48% | 4.87% | -4.39% |
Volatility (6M)Calculated over the trailing 6-month period | 1.35% | 11.85% | -10.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.72% | 17.18% | -15.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.49% | 20.69% | -18.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.45% | 23.24% | -20.79% |
VMPAX vs. SCVAX - Expense Ratio Comparison
VMPAX has a 0.79% expense ratio, which is lower than SCVAX's 1.15% expense ratio.
Dividends
VMPAX vs. SCVAX - Dividend Comparison
VMPAX's dividend yield for the trailing twelve months is around 2.57%, less than SCVAX's 4.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SCVAX Allspring Small Company Value Fund | 4.96% | 5.88% | 8.23% | 0.77% | 4.33% | 6.02% | 0.39% | 0.48% | 0.71% | 0.30% | 0.04% | 0.13% |
VMPAX Allspring Strategic Municipal Bond Fund | 2.57% | 2.55% | 4.94% | 4.21% | 1.56% | 1.33% | 1.66% | 2.13% | 1.87% | 1.86% | 1.96% | 1.63% |
Frequently Asked Questions
VMPAX and SCVAX have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCVAX has higher volatility (4.87%) compared to VMPAX (0.48%). In terms of maximum drawdown, VMPAX dropped -8.62% vs SCVAX's -70.30%.
VMPAX currently has the higher Sharpe Ratio (2.77 vs 1.68), 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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