WFCMX vs. LSMSX
WFCMX (Allspring Managed Account CoreBuilder Shares - Series M) and LSMSX (Western Asset SMASh Series TF Fund) are both Municipal Bonds funds. Over the past 5 years, WFCMX returned 1.53%/yr vs 1.16%/yr for LSMSX. Their correlation of 0.81 suggests significant overlap in exposure. WFCMX charges 0.00%/yr vs 0.01%/yr for LSMSX.
Performance
WFCMX vs. LSMSX - Performance Comparison
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Returns By Period
In the year-to-date period, WFCMX achieves a 2.26% return, which is significantly lower than LSMSX's 2.43% return.
WFCMX
- 1D
- -0.09%
- 1M
- 1.42%
- YTD
- 2.26%
- 6M
- 2.70%
- 1Y
- 7.39%
- 3Y*
- 4.44%
- 5Y*
- 1.53%
- 10Y*
- 2.71%
LSMSX
- 1D
- 0.00%
- 1M
- 1.91%
- YTD
- 2.43%
- 6M
- 2.64%
- 1Y
- 7.81%
- 3Y*
- 3.84%
- 5Y*
- 1.16%
- 10Y*
- —
WFCMX vs. LSMSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WFCMX Allspring Managed Account CoreBuilder Shares - Series M | 2.26% | 4.16% | 3.50% | 6.05% | -8.63% | 2.47% | 4.20% | 8.74% | 2.62% | 6.72% |
LSMSX Western Asset SMASh Series TF Fund | 2.43% | 3.22% | 2.22% | 7.96% | -10.03% | 4.11% | 4.48% | 8.16% | 0.46% | 4.92% |
Correlation
The correlation between WFCMX and LSMSX is 0.78, 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 | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2017 | 0.81 |
The correlation between WFCMX and LSMSX has been stable across timeframes, ranging from 0.78 to 0.87 - a consistent structural relationship.
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Return for Risk
WFCMX vs. LSMSX — Risk / Return Rank
WFCMX
LSMSX
WFCMX vs. LSMSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Allspring Managed Account CoreBuilder Shares - Series M (WFCMX) and Western Asset SMASh Series TF Fund (LSMSX). 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.
| WFCMX | LSMSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.80 | 1.70 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.06 | 2.86 | +0.20 |
| Martin ratioReturn relative to average drawdown | 11.68 | 9.60 | +2.07 |
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Drawdowns
WFCMX vs. LSMSX - Drawdown Comparison
The maximum WFCMX drawdown since its inception was -13.42%, smaller than the maximum LSMSX drawdown of -15.00%. Use the drawdown chart below to compare losses from any high point for WFCMX and LSMSX.
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Drawdown Indicators
| WFCMX | LSMSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.42% | -15.00% | +1.58% |
Max Drawdown (1Y)Largest decline over 1 year | -2.46% | -2.82% | +0.36% |
Max Drawdown (3Y)Largest decline over 3 years | -5.44% | -7.49% | +2.05% |
Max Drawdown (5Y)Largest decline over 5 years | -13.42% | -15.00% | +1.58% |
Max Drawdown (10Y)Largest decline over 10 years | -13.42% | — | — |
Current DrawdownCurrent decline from peak | -0.09% | 0.00% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -1.97% | -2.84% | +0.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.64% | 0.84% | -0.20% |
Volatility
WFCMX vs. LSMSX - Volatility Comparison
The current volatility for Allspring Managed Account CoreBuilder Shares - Series M (WFCMX) is 0.70%, while Western Asset SMASh Series TF Fund (LSMSX) has a volatility of 0.79%. This indicates that WFCMX experiences smaller price fluctuations and is considered to be less risky than LSMSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WFCMX | LSMSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.70% | 0.79% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 1.91% | 2.06% | -0.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.51% | 2.84% | -0.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.81% | 4.48% | -0.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.83% | 4.49% | -0.66% |
WFCMX vs. LSMSX - Expense Ratio Comparison
WFCMX has a 0.00% expense ratio, which is lower than LSMSX's 0.01% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
WFCMX vs. LSMSX - Dividend Comparison
WFCMX's dividend yield for the trailing twelve months is around 4.01%, more than LSMSX's 3.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LSMSX Western Asset SMASh Series TF Fund | 3.84% | 3.83% | 4.30% | 3.37% | 2.38% | 2.73% | 2.33% | 2.55% | 2.34% | 0.90% | 0.00% | 0.00% |
WFCMX Allspring Managed Account CoreBuilder Shares - Series M | 4.01% | 4.01% | 3.98% | 3.11% | 3.29% | 2.85% | 3.17% | 3.61% | 3.58% | 3.33% | 3.20% | 3.40% |
Frequently Asked Questions
WFCMX and LSMSX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LSMSX has higher volatility (0.79%) compared to WFCMX (0.70%). In terms of maximum drawdown, WFCMX dropped -13.42% vs LSMSX's -15.00%.
WFCMX currently has the higher Sharpe Ratio (2.99 vs 2.85), 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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