PISPX Performance — Inflation Protection Fund, Class R-1
Data updated: 2026-09-25
PISPX returned +7.31% over one year to Oct 2024. Annualised returns are −2.59% over 3 years and +1.00% over 5 years. The fund trailed its Intermediate Government Bond category average: $100 invested three years ago grew to $92, against $95 for the category, and to $107 over one year, against $109. Volatility over the past three years was 7.28% a year. In the 12 months to Jul 2026 the fund lost a net $105.2M, and assets reached $2.15B.
PISPX Growth of $100
What $100 invested in Inflation Protection Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Intermediate Government Bond category average over the same months.
| Period | PISPX | Category average |
|---|---|---|
| 1 year (Nov 2023 – Oct 2024) | $107 | $109 |
| 3 years (Nov 2021 – Oct 2024) | $92 | $95 |
| 5 years (Nov 2019 – Oct 2024) | $105 | $104 |
| Since data start (Aug 2019 – Oct 2024) | $106 | $106 |
PISPX Trailing Returns
Total returns to Oct 2024, from SEC N-PORT.
| Period | Total return |
|---|---|
| 1 year | +7.31% |
| 3 years (annualised) | −2.59% |
| 5 years (annualised) | +1.00% |
PISPX Annual Returns
Calendar-year total returns of Inflation Protection Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2024 (Jan–Oct) | +2.12% |
| 2023 | +2.56% |
| 2022 | −12.78% |
| 2021 | +4.27% |
| 2020 | +9.79% |
| 2019 (Aug–Dec) | +1.31% |
PISPX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | +0.3% | −1.1% | +0.6% | −1.6% | +1.6% | +0.7% | +1.7% | +0.7% | +1.4% | −2.0% | — | — |
| 2023 | +2.0% | −1.4% | +2.8% | 0.0% | −1.2% | −0.5% | +0.1% | −1.1% | −2.0% | −1.0% | +2.7% | +2.3% |
| 2022 | −2.1% | +0.8% | −1.8% | −2.5% | −0.9% | −3.4% | +4.2% | −2.6% | −6.8% | +1.1% | +1.9% | −1.1% |
| 2021 | +0.1% | −2.3% | +0.1% | +1.5% | +1.0% | +0.6% | +2.4% | −0.2% | −0.8% | +0.7% | +1.0% | +0.2% |
| 2020 | +2.0% | +0.9% | −2.4% | +3.0% | +0.4% | +1.1% | +2.4% | +1.0% | −0.3% | −0.7% | +1.2% | +1.1% |
| 2019 | — | — | — | — | — | — | — | +2.0% | −1.5% | +0.4% | +0.1% | +0.4% |
PISPX Risk
Risk measures from monthly returns over Nov 2021 – Oct 2024.
- 3-year volatility (annualised): 7.28%
- 3-year Sharpe ratio: -0.97 (vs 4.5% risk-free rate)
- Best month: +4.24% (Jul 2022)
- Worst month: −6.84% (Sep 2022)
PISPX Fund Flows
Monthly money in and out of Inflation Protection Fund, from SEC Form N-PORT.
- 12-month net flow: −$105.2M
- 12-month gross sales (incl. reinvestments): $540.5M
- Sales ÷ redemptions: 0.84×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jul 2026 | $55.9M | $38.4M | $17.5M |
| Jun 2026 | $16.9M | $33.1M | −$16.2M |
| May 2026 | $54.6M | $34.1M | $20.5M |
| Apr 2026 | $72.9M | $44.3M | $28.6M |
| Mar 2026 | $14.8M | $197.0M | −$182.2M |
| Feb 2026 | $36.5M | $27.8M | $8.7M |
| Jan 2026 | $9.7M | $56.7M | −$47.0M |
| Dec 2025 | $116.3M | $30.7M | $85.6M |
| Nov 2025 | $8.8M | $62.9M | −$54.1M |
| Oct 2025 | $90.5M | $28.4M | $62.1M |
| Sep 2025 | $53.8M | $66.6M | −$12.8M |
| Aug 2025 | $9.8M | $25.7M | −$15.9M |
PISPX Assets Under Management
Net assets of Inflation Protection Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-07-31 | $2.15B |
| 2026-04-30 | $2.15B |
| 2026-01-31 | $2.27B |
| 2025-10-31 | $2.38B |
| 2025-07-31 | $2.30B |
| 2025-04-30 | $2.31B |
| 2025-01-31 | $2.17B |
| 2024-10-31 | $2.24B |
| 2024-07-31 | $1.85B |
| 2024-04-30 | $1.89B |
| 2024-01-31 | $1.52B |
| 2023-10-31 | $1.47B |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.