DPIGX vs. DUMSX

Last updated Jun 23, 2026

DPIGX (Dupree Intermediate Government Bond Series) and DUMSX (Dupree Mississippi Tax-Free Income Series) are both mutual funds - DPIGX is a Government Bonds fund managed by Dupree, while DUMSX is a Municipal Bonds fund managed by Dupree. Over the past 10 years, DPIGX returned 1.59%/yr vs 2.88%/yr for DUMSX. A 0.52 correlation means they provide meaningful diversification when combined. Both charge a 0.70% expense ratio.

Performance

DPIGX vs. DUMSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dupree Intermediate Government Bond Series (DPIGX) and Dupree Mississippi Tax-Free Income Series (DUMSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DPIGX achieves a -0.18% return, which is significantly lower than DUMSX's 2.45% return. Over the past 10 years, DPIGX has underperformed DUMSX with an annualized return of 1.59%, while DUMSX has yielded a comparatively higher 2.88% annualized return.

DPIGX

• 1D: 0.00%
• 1M: 0.39%
• YTD: -0.18%
• 6M: 0.21%
• 1Y: 2.59%
• 3Y*: 4.05%
• 5Y*: 1.76%
• 10Y*: 1.59%

DUMSX

• 1D: 0.09%
• 1M: 1.47%
• YTD: 2.45%
• 6M: 3.27%
• 1Y: 9.20%
• 3Y*: 5.15%
• 5Y*: 2.08%
• 10Y*: 2.88%

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

DPIGX vs. DUMSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DPIGX Dupree Intermediate Government Bond Series	-0.18%	5.66%	3.67%	3.90%	-3.50%	-1.47%	3.92%	4.50%	0.68%	1.35%
DUMSX Dupree Mississippi Tax-Free Income Series	2.45%	6.98%	2.35%	5.16%	-7.10%	2.23%	4.69%	6.87%	2.20%	5.98%

Correlation

The correlation between DPIGX and DUMSX is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (10Y) Calculated over the trailing 10-year period	0.47
Correlation (All Time) Calculated using the full available price history since Dec 31, 1999	0.52

The correlation between DPIGX and DUMSX shifts across timeframes, from 0.39 (1 year) to 0.52 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DPIGX vs. DUMSX — Risk / Return Rank

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

DPIGX

DPIGX Risk / Return Rank: 23
DPIGX Sharpe Ratio Rank: 20
DPIGX Sortino Ratio Rank: 25
DPIGX Omega Ratio Rank: 23
DPIGX Calmar Ratio Rank: 26
DPIGX Martin Ratio Rank: 23

DUMSX

DUMSX Risk / Return Rank: 94
DUMSX Sharpe Ratio Rank: 96
DUMSX Sortino Ratio Rank: 98
DUMSX Omega Ratio Rank: 98
DUMSX Calmar Ratio Rank: 85
DUMSX Martin Ratio Rank: 91

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.

DPIGX vs. DUMSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dupree Intermediate Government Bond Series (DPIGX) and Dupree Mississippi Tax-Free Income Series (DUMSX). 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.

	DPIGX	DUMSX	Difference
Sharpe ratio: Return per unit of total volatility	1.20	3.18	-1.98
Sortino ratio: Return per unit of downside risk	1.93	6.15	-4.22
Omega ratio: Gain probability vs. loss probability	1.23	2.16	-0.92
Calmar ratio: Return relative to maximum drawdown	1.78	3.83	-2.04
Martin ratio: Return relative to average drawdown	5.16	17.07	-11.91

DPIGX vs. DUMSX - Sharpe Ratio Comparison

The current DPIGX Sharpe Ratio is 1.20, which is lower than the DUMSX Sharpe Ratio of 3.18. The chart below compares the historical Sharpe Ratios of DPIGX and DUMSX, 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

DPIGX vs. DUMSX - Drawdown Comparison

The maximum DPIGX drawdown since its inception was -10.25%, smaller than the maximum DUMSX drawdown of -11.62%. Use the drawdown chart below to compare losses from any high point for DPIGX and DUMSX.

Drawdown Indicators

	DPIGX	DUMSX	Difference
Max Drawdown Largest peak-to-trough decline	-10.25%	-11.62%	+1.37%
Max Drawdown (1Y) Largest decline over 1 year	-1.46%	-2.42%	+0.96%
Max Drawdown (3Y) Largest decline over 3 years	-1.46%	-6.08%	+4.62%
Max Drawdown (5Y) Largest decline over 5 years	-5.89%	-11.03%	+5.14%
Max Drawdown (10Y) Largest decline over 10 years	-6.59%	-11.03%	+4.44%
Current Drawdown Current decline from peak	-0.93%	0.00%	-0.93%
Average Drawdown Average peak-to-trough decline	-1.57%	-1.57%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.50%	0.54%	-0.04%

Volatility

DPIGX vs. DUMSX - Volatility Comparison

Dupree Intermediate Government Bond Series (DPIGX) has a higher volatility of 0.73% compared to Dupree Mississippi Tax-Free Income Series (DUMSX) at 0.66%. This indicates that DPIGX's price experiences larger fluctuations and is considered to be riskier than DUMSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DPIGX	DUMSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.73%	0.66%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	1.65%	2.11%	-0.46%
Volatility (1Y) Calculated over the trailing 1-year period	2.17%	2.91%	-0.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.14%	4.19%	-2.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.32%	3.88%	-1.56%

DPIGX vs. DUMSX - Expense Ratio Comparison

Both DPIGX and DUMSX have an expense ratio of 0.70%.

Dividends

DPIGX vs. DUMSX - Dividend Comparison

DPIGX's dividend yield for the trailing twelve months is around 3.43%, less than DUMSX's 5.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPIGX Dupree Intermediate Government Bond Series	3.43%	4.00%	3.39%	2.84%	2.51%	1.91%	2.29%	2.39%	2.76%	2.55%	2.51%	2.51%
DUMSX Dupree Mississippi Tax-Free Income Series	5.32%	6.09%	4.79%	3.25%	3.22%	3.19%	3.11%	3.72%	4.66%	4.12%	2.94%	3.01%

Frequently Asked Questions

Can I hold both DPIGX and DUMSX in my portfolio?

DPIGX and DUMSX 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.

Which is riskier, DPIGX or DUMSX?

DPIGX has higher volatility (0.73%) compared to DUMSX (0.66%). In terms of maximum drawdown, DPIGX dropped -10.25% vs DUMSX's -11.62%.

Which has better risk-adjusted returns?

DUMSX currently has the higher Sharpe Ratio (3.18 vs 1.20), 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.