DPIGX vs. NTFIX
DPIGX (Dupree Intermediate Government Bond Series) and NTFIX (Dupree North Carolina Tax-Free Income Series) are both mutual funds - DPIGX is a Government Bonds fund managed by Dupree, while NTFIX is a Municipal Bonds fund managed by Dupree. Over the past 10 years, DPIGX returned 1.59%/yr vs 2.50%/yr for NTFIX. A 0.55 correlation means they provide meaningful diversification when combined. DPIGX charges 0.70%/yr vs 0.68%/yr for NTFIX.
Performance
DPIGX vs. NTFIX - Performance Comparison
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Returns By Period
In the year-to-date period, DPIGX achieves a -0.18% return, which is significantly lower than NTFIX's 1.61% return. Over the past 10 years, DPIGX has underperformed NTFIX with an annualized return of 1.59%, while NTFIX has yielded a comparatively higher 2.50% 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%
NTFIX
- 1D
- 0.09%
- 1M
- 1.21%
- YTD
- 1.61%
- 6M
- 2.38%
- 1Y
- 6.92%
- 3Y*
- 3.93%
- 5Y*
- 1.20%
- 10Y*
- 2.50%
DPIGX vs. NTFIX - 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% |
NTFIX Dupree North Carolina Tax-Free Income Series | 1.61% | 4.53% | 2.25% | 5.48% | -8.44% | 2.06% | 5.81% | 7.38% | 2.05% | 6.09% |
Correlation
The correlation between DPIGX and NTFIX is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 1995 | 0.55 |
Over the past year, the correlation between DPIGX and NTFIX has dropped to 0.34 - well below their long-term average of 0.55, suggesting their price drivers have been diverging.
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Return for Risk
DPIGX vs. NTFIX — Risk / Return Rank
DPIGX
NTFIX
DPIGX vs. NTFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dupree Intermediate Government Bond Series (DPIGX) and Dupree North Carolina Tax-Free Income Series (NTFIX). 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 | NTFIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.40 | ||
| Sortino ratioReturn per unit of downside risk | -2.83 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.89 | -0.65 |
| Calmar ratioReturn relative to maximum drawdown | 1.78 | 3.03 | -1.25 |
| Martin ratioReturn relative to average drawdown | 5.16 | 12.50 | -7.34 |
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Drawdowns
DPIGX vs. NTFIX - Drawdown Comparison
The maximum DPIGX drawdown since its inception was -10.25%, smaller than the maximum NTFIX drawdown of -13.11%. Use the drawdown chart below to compare losses from any high point for DPIGX and NTFIX.
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Drawdown Indicators
| DPIGX | NTFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.25% | -13.11% | +2.86% |
Max Drawdown (1Y)Largest decline over 1 year | -1.46% | -2.29% | +0.83% |
Max Drawdown (3Y)Largest decline over 3 years | -1.46% | -5.79% | +4.33% |
Max Drawdown (5Y)Largest decline over 5 years | -5.89% | -13.11% | +7.22% |
Max Drawdown (10Y)Largest decline over 10 years | -6.59% | -13.11% | +6.52% |
Current DrawdownCurrent decline from peak | -0.93% | -0.00% | -0.93% |
Average DrawdownAverage peak-to-trough decline | -1.57% | -1.73% | +0.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.50% | 0.55% | -0.05% |
Volatility
DPIGX vs. NTFIX - Volatility Comparison
Dupree Intermediate Government Bond Series (DPIGX) has a higher volatility of 0.73% compared to Dupree North Carolina Tax-Free Income Series (NTFIX) at 0.61%. This indicates that DPIGX's price experiences larger fluctuations and is considered to be riskier than NTFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DPIGX | NTFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.73% | 0.61% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 1.65% | 1.95% | -0.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.17% | 2.67% | -0.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.14% | 4.28% | -2.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.32% | 4.10% | -1.78% |
DPIGX vs. NTFIX - Expense Ratio Comparison
DPIGX has a 0.70% expense ratio, which is higher than NTFIX's 0.68% expense ratio.
Dividends
DPIGX vs. NTFIX - Dividend Comparison
DPIGX's dividend yield for the trailing twelve months is around 3.43%, more than NTFIX's 2.95% 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% |
NTFIX Dupree North Carolina Tax-Free Income Series | 2.95% | 3.61% | 4.11% | 2.93% | 3.27% | 2.87% | 2.84% | 3.36% | 4.45% | 4.04% | 2.82% | 2.95% |
Frequently Asked Questions
DPIGX and NTFIX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DPIGX has higher volatility (0.73%) compared to NTFIX (0.61%). In terms of maximum drawdown, DPIGX dropped -10.25% vs NTFIX's -13.11%.
NTFIX currently has the higher Sharpe Ratio (2.60 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.
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