WFTAX vs. SFAAX

Last updated Jun 23, 2026

WFTAX (Allspring Intermediate Tax/AMT-Free Fund) and SFAAX (Allspring Index Asset Allocation Fund) are both mutual funds - WFTAX is a Municipal Bonds fund managed by Allspring Global Investments, while SFAAX is a Diversified Portfolio fund managed by Allspring Global Investments. Over the past 10 years, WFTAX returned 1.70%/yr vs 9.35%/yr for SFAAX. At a correlation of -0.03, they often move in opposite directions. WFTAX charges 0.70%/yr vs 1.08%/yr for SFAAX.

Performance

WFTAX vs. SFAAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allspring Intermediate Tax/AMT-Free Fund (WFTAX) and Allspring Index Asset Allocation Fund (SFAAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WFTAX achieves a 1.26% return, which is significantly lower than SFAAX's 6.10% return. Over the past 10 years, WFTAX has underperformed SFAAX with an annualized return of 1.70%, while SFAAX has yielded a comparatively higher 9.35% annualized return.

WFTAX

• 1D: 0.00%
• 1M: 1.17%
• YTD: 1.26%
• 6M: 1.70%
• 1Y: 5.51%
• 3Y*: 3.36%
• 5Y*: 0.90%
• 10Y*: 1.70%

SFAAX

• 1D: 0.78%
• 1M: 0.32%
• YTD: 6.10%
• 6M: 5.71%
• 1Y: 17.17%
• 3Y*: 13.03%
• 5Y*: 7.43%
• 10Y*: 9.35%

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

WFTAX vs. SFAAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WFTAX Allspring Intermediate Tax/AMT-Free Fund	1.26%	4.01%	1.76%	4.25%	-6.63%	1.03%	3.91%	6.15%	0.91%	4.41%
SFAAX Allspring Index Asset Allocation Fund	6.10%	11.39%	14.61%	16.64%	-17.03%	15.76%	16.21%	21.52%	-2.82%	12.25%

Correlation

The correlation between WFTAX and SFAAX is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (10Y) Calculated over the trailing 10-year period	0.10
Correlation (All Time) Calculated using the full available price history since Jul 31, 2007	-0.03

The correlation between WFTAX and SFAAX shifts across timeframes, from -0.03 (all time) to 0.23 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

WFTAX vs. SFAAX — Risk / Return Rank

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

WFTAX

WFTAX Risk / Return Rank: 69
WFTAX Sharpe Ratio Rank: 88
WFTAX Sortino Ratio Rank: 90
WFTAX Omega Ratio Rank: 95
WFTAX Calmar Ratio Rank: 38
WFTAX Martin Ratio Rank: 36

SFAAX

SFAAX Risk / Return Rank: 59
SFAAX Sharpe Ratio Rank: 55
SFAAX Sortino Ratio Rank: 52
SFAAX Omega Ratio Rank: 53
SFAAX Calmar Ratio Rank: 67
SFAAX Martin Ratio Rank: 69

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.

WFTAX vs. SFAAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allspring Intermediate Tax/AMT-Free Fund (WFTAX) and Allspring Index Asset Allocation Fund (SFAAX). 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.

	WFTAX	SFAAX	Difference
Sharpe ratio: Return per unit of total volatility	2.65	2.01	+0.64
Sortino ratio: Return per unit of downside risk	4.08	2.80	+1.28
Omega ratio: Gain probability vs. loss probability	1.74	1.37	+0.37
Calmar ratio: Return relative to maximum drawdown	2.23	3.01	-0.78
Martin ratio: Return relative to average drawdown	7.56	12.50	-4.94

WFTAX vs. SFAAX - Sharpe Ratio Comparison

The current WFTAX Sharpe Ratio is 2.65, which is higher than the SFAAX Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of WFTAX and SFAAX, 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

WFTAX vs. SFAAX - Drawdown Comparison

The maximum WFTAX drawdown since its inception was -10.52%, smaller than the maximum SFAAX drawdown of -47.78%. Use the drawdown chart below to compare losses from any high point for WFTAX and SFAAX.

Drawdown Indicators

	WFTAX	SFAAX	Difference
Max Drawdown Largest peak-to-trough decline	-10.52%	-47.78%	+37.26%
Max Drawdown (1Y) Largest decline over 1 year	-2.43%	-5.69%	+3.26%
Max Drawdown (3Y) Largest decline over 3 years	-3.97%	-11.69%	+7.72%
Max Drawdown (5Y) Largest decline over 5 years	-10.52%	-24.32%	+13.80%
Max Drawdown (10Y) Largest decline over 10 years	-10.52%	-24.32%	+13.80%
Current Drawdown Current decline from peak	-0.51%	-0.98%	+0.47%
Average Drawdown Average peak-to-trough decline	-1.77%	-5.84%	+4.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.72%	1.37%	-0.65%

Volatility

WFTAX vs. SFAAX - Volatility Comparison

The current volatility for Allspring Intermediate Tax/AMT-Free Fund (WFTAX) is 0.65%, while Allspring Index Asset Allocation Fund (SFAAX) has a volatility of 3.38%. This indicates that WFTAX experiences smaller price fluctuations and is considered to be less risky than SFAAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WFTAX	SFAAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.65%	3.38%	-2.73%
Volatility (6M) Calculated over the trailing 6-month period	1.65%	6.71%	-5.06%
Volatility (1Y) Calculated over the trailing 1-year period	2.05%	8.54%	-6.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.90%	11.43%	-8.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.09%	11.43%	-8.34%

WFTAX vs. SFAAX - Expense Ratio Comparison

WFTAX has a 0.70% expense ratio, which is lower than SFAAX's 1.08% expense ratio.

Dividends

WFTAX vs. SFAAX - Dividend Comparison

WFTAX's dividend yield for the trailing twelve months is around 2.94%, less than SFAAX's 11.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SFAAX Allspring Index Asset Allocation Fund	11.93%	12.65%	12.74%	7.46%	4.98%	5.92%	3.77%	3.60%	3.88%	1.27%	1.66%	6.34%
WFTAX Allspring Intermediate Tax/AMT-Free Fund	2.94%	2.89%	2.85%	2.28%	2.30%	1.96%	2.11%	2.48%	2.47%	2.37%	2.37%	2.00%

Frequently Asked Questions

Can I hold both WFTAX and SFAAX in my portfolio?

WFTAX and SFAAX have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WFTAX or SFAAX?

SFAAX has higher volatility (3.38%) compared to WFTAX (0.65%). In terms of maximum drawdown, WFTAX dropped -10.52% vs SFAAX's -47.78%.

Which has better risk-adjusted returns?

WFTAX currently has the higher Sharpe Ratio (2.65 vs 2.01), 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.