VMPAX vs. SSHIX
VMPAX (Allspring Strategic Municipal Bond Fund) and SSHIX (Allspring Short-Term Bond Plus Fund) are both mutual funds - VMPAX is a Municipal Bonds fund managed by Allspring, while SSHIX is a Short-Term Bond fund managed by Allspring. Over the past 10 years, VMPAX returned 2.22%/yr vs 2.60%/yr for SSHIX. Their 0.36 correlation means their historical movements had little consistent relationship. VMPAX charges 0.79%/yr vs 0.47%/yr for SSHIX.
Performance
VMPAX vs. SSHIX - Performance Comparison
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Returns By Period
In the year-to-date period, VMPAX achieves a 0.52% return, which is significantly lower than SSHIX's 0.62% return. Over the past 10 years, VMPAX has underperformed SSHIX with an annualized return of 2.22%, while SSHIX has yielded a comparatively higher 2.60% annualized return.
VMPAX
- 1D
- -0.11%
- 1M
- -1.12%
- 6M
- -0.25%
- YTD
- 0.52%
- 1Y
- 3.00%
- 3Y*
- 4.20%
- 5Y*
- 1.89%
- 10Y*
- 2.22%
- ALL TIME*
- 3.43%
SSHIX
- 1D
- 0.12%
- 1M
- -0.35%
- 6M
- 0.20%
- YTD
- 0.62%
- 1Y
- 2.75%
- 3Y*
- 5.07%
- 5Y*
- 2.41%
- 10Y*
- 2.60%
- ALL TIME*
- 3.09%
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 |
VMPAX vs. SSHIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VMPAX Allspring Strategic Municipal Bond Fund | 0.52% | 3.54% | 5.44% | 6.56% | -5.68% | 0.90% | 3.13% | 4.67% | 2.02% | 3.14% |
SSHIX Allspring Short-Term Bond Plus Fund | 0.62% | 5.59% | 5.41% | 6.19% | -4.87% | 0.16% | 6.02% | 4.80% | 1.41% | 1.31% |
Correlation
The correlation between VMPAX and SSHIX is 0.39, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.39 |
Correlation (3Y) Balances recent behavior with more history. | 0.40 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.41 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.39 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2000 | 0.36 |
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Return for Risk
VMPAX vs. SSHIX — Risk / Return Rank
VMPAX
SSHIX
VMPAX vs. SSHIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Allspring Strategic Municipal Bond Fund (VMPAX) and Allspring Short-Term Bond Plus Fund (SSHIX). 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 | SSHIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.55 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.78 | 2.25 | -0.46 |
| Martin ratioReturn relative to average drawdown | 5.69 | 9.24 | -3.55 |
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Drawdowns
VMPAX vs. SSHIX - Drawdown Comparison
The maximum VMPAX drawdown since its inception was -8.62%, which is greater than SSHIX's maximum drawdown of -7.13%. Use the drawdown chart below to compare losses from any high point for VMPAX and SSHIX.
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Drawdown Indicators
| VMPAX | SSHIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.62% | -7.13% | -1.49% |
Max Drawdown (1Y)Largest decline over 1 year | -1.89% | -1.39% | -0.50% |
Max Drawdown (3Y)Largest decline over 3 years | -3.16% | -1.39% | -1.77% |
Max Drawdown (5Y)Largest decline over 5 years | -8.62% | -7.13% | -1.49% |
Max Drawdown (10Y)Largest decline over 10 years | -8.62% | -7.13% | -1.49% |
Current DrawdownCurrent decline from peak | -1.12% | -0.35% | -0.77% |
Average DrawdownAverage peak-to-trough decline | -0.61% | -0.62% | +0.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.59% | 0.34% | +0.25% |
Volatility
VMPAX vs. SSHIX - Volatility Comparison
Allspring Strategic Municipal Bond Fund (VMPAX) has a higher volatility of 0.60% compared to Allspring Short-Term Bond Plus Fund (SSHIX) at 0.56%. This indicates that VMPAX's price experiences larger fluctuations and is considered to be riskier than SSHIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VMPAX | SSHIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.60% | 0.56% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 1.48% | 1.17% | +0.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.79% | 1.43% | +0.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.51% | 2.09% | +0.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.46% | 1.86% | +0.60% |
VMPAX vs. SSHIX - Expense Ratio Comparison
VMPAX has a 0.79% expense ratio, which is higher than SSHIX's 0.47% expense ratio.
Dividends
VMPAX vs. SSHIX - Dividend Comparison
VMPAX's dividend yield for the trailing twelve months is around 2.40%, less than SSHIX's 3.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SSHIX Allspring Short-Term Bond Plus Fund | 3.80% | 4.27% | 4.43% | 3.92% | 1.92% | 2.31% | 3.14% | 2.61% | 2.21% | 1.65% | 1.58% | 1.70% |
VMPAX Allspring Strategic Municipal Bond Fund | 2.40% | 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 SSHIX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VMPAX has higher volatility (0.60%) compared to SSHIX (0.56%). In terms of maximum drawdown, VMPAX dropped -8.62% vs SSHIX's -7.13%.
SSHIX currently has the higher Sharpe Ratio (2.19 vs 1.89), 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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