DTF vs. DSGX

Last updated Jun 24, 2026

DTF (DTF Tax-Free Income 2028 Term Fund Inc.) and DSGX (The Descartes Systems Group Inc.) are both stocks. DTF operates in Asset Management (Financial Services), while DSGX operates in Software - Application (Technology). Over the past 10 years, DTF returned 0.16%/yr vs 13.56%/yr for DSGX. At a 0.05 correlation, their price movements are largely independent.

Performance

DTF vs. DSGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DTF Tax-Free Income 2028 Term Fund Inc. (DTF) and The Descartes Systems Group Inc. (DSGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DTF achieves a 1.98% return, which is significantly higher than DSGX's -22.76% return. Over the past 10 years, DTF has underperformed DSGX with an annualized return of 0.16%, while DSGX has yielded a comparatively higher 13.56% annualized return.

DTF

• 1D: 0.09%
• 1M: 1.17%
• YTD: 1.98%
• 6M: 2.88%
• 1Y: 5.98%
• 3Y*: 5.86%
• 5Y*: -1.67%
• 10Y*: 0.16%

DSGX

• 1D: 1.88%
• 1M: -5.02%
• YTD: -22.76%
• 6M: -24.02%
• 1Y: -32.81%
• 3Y*: -3.99%
• 5Y*: 0.07%
• 10Y*: 13.56%

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

DTF vs. DSGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DTF DTF Tax-Free Income 2028 Term Fund Inc.	1.98%	5.41%	8.07%	2.12%	-21.17%	0.09%	4.11%	23.44%	-7.25%	2.16%
DSGX The Descartes Systems Group Inc.	-22.76%	-22.83%	35.14%	20.69%	-15.76%	41.38%	36.89%	61.45%	-6.83%	32.71%

Correlation

The correlation between DTF and DSGX is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.03
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (5Y) Calculated over the trailing 5-year period	0.10
Correlation (10Y) Calculated over the trailing 10-year period	0.08
Correlation (All Time) Calculated using the full available price history since Jan 27, 1999	0.05

The correlation between DTF and DSGX shifts across timeframes, from -0.03 (1 year) to 0.10 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap DTF : $80.49M DSGX : $5.92B
EPS DTF : $0.93 DSGX : $2.02
PE Ratio DTF : 12.25 DSGX : 33.53
PS Ratio DTF : 14.40 DSGX : 7.83
PB Ratio DTF : 0.94 DSGX : 3.63
Total Revenue (TTM) DTF : $5.59M DSGX : $757.13M
Gross Profit (TTM) DTF : $5.07M DSGX : $526.49M
EBITDA (TTM) DTF : $5.07M DSGX : $324.67M

Return for Risk

DTF vs. DSGX — Risk / Return Rank

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

DTF

DTF Risk / Return Rank: 77
DTF Sharpe Ratio Rank: 75
DTF Sortino Ratio Rank: 71
DTF Omega Ratio Rank: 68
DTF Calmar Ratio Rank: 83
DTF Martin Ratio Rank: 86

DSGX

DSGX Risk / Return Rank: 10
DSGX Sharpe Ratio Rank: 8
DSGX Sortino Ratio Rank: 8
DSGX Omega Ratio Rank: 10
DSGX Calmar Ratio Rank: 12
DSGX Martin Ratio Rank: 10

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.

DTF vs. DSGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DTF Tax-Free Income 2028 Term Fund Inc. (DTF) and The Descartes Systems Group Inc. (DSGX). 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.

	DTF	DSGX	Difference
Sharpe ratio: Return per unit of total volatility	1.12	-0.88	+2.00
Sortino ratio: Return per unit of downside risk	1.71	-1.28	+2.99
Omega ratio: Gain probability vs. loss probability	1.20	0.86	+0.35
Calmar ratio: Return relative to maximum drawdown	2.93	-0.79	+3.72
Martin ratio: Return relative to average drawdown	8.50	-1.34	+9.84

DTF vs. DSGX - Sharpe Ratio Comparison

The current DTF Sharpe Ratio is 1.12, which is higher than the DSGX Sharpe Ratio of -0.88. The chart below compares the historical Sharpe Ratios of DTF and DSGX, 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

DTF vs. DSGX - Drawdown Comparison

The maximum DTF drawdown since its inception was -37.49%, smaller than the maximum DSGX drawdown of -98.95%. Use the drawdown chart below to compare losses from any high point for DTF and DSGX.

Drawdown Indicators

	DTF	DSGX	Difference
Max Drawdown Largest peak-to-trough decline	-37.49%	-98.95%	+61.46%
Max Drawdown (1Y) Largest decline over 1 year	-2.05%	-41.72%	+39.67%
Max Drawdown (3Y) Largest decline over 3 years	-5.42%	-48.72%	+43.30%
Max Drawdown (5Y) Largest decline over 5 years	-25.73%	-48.72%	+22.99%
Max Drawdown (10Y) Largest decline over 10 years	-25.73%	-48.72%	+22.99%
Current Drawdown Current decline from peak	-9.19%	-44.73%	+35.54%
Average Drawdown Average peak-to-trough decline	-9.22%	-69.20%	+59.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.71%	24.48%	-23.77%

Volatility

DTF vs. DSGX - Volatility Comparison

The current volatility for DTF Tax-Free Income 2028 Term Fund Inc. (DTF) is 1.70%, while The Descartes Systems Group Inc. (DSGX) has a volatility of 13.62%. This indicates that DTF experiences smaller price fluctuations and is considered to be less risky than DSGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DTF	DSGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.70%	13.62%	-11.92%
Volatility (6M) Calculated over the trailing 6-month period	3.99%	28.99%	-25.00%
Volatility (1Y) Calculated over the trailing 1-year period	5.35%	37.50%	-32.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.08%	30.58%	-22.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.56%	29.55%	-19.99%

Dividends

DTF vs. DSGX - Dividend Comparison

DTF's dividend yield for the trailing twelve months is around 3.41%, while DSGX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DSGX The Descartes Systems Group Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DTF DTF Tax-Free Income 2028 Term Fund Inc.	3.41%	3.42%	3.48%	3.63%	3.57%	4.35%	3.22%	2.98%	5.48%	4.95%	6.53%	5.81%

Financials

Frequently Asked Questions

Can I hold both DTF and DSGX in my portfolio?

DTF and DSGX have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DTF or DSGX?

DSGX has higher volatility (13.62%) compared to DTF (1.70%). In terms of maximum drawdown, DTF dropped -37.49% vs DSGX's -98.95%.

Which has better risk-adjusted returns?

DTF currently has the higher Sharpe Ratio (1.12 vs -0.88), 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.