DUMSX vs. LSMSX
DUMSX (Dupree Mississippi Tax-Free Income Series) and LSMSX (Western Asset SMASh Series TF Fund) are both Municipal Bonds funds. Over the past 5 years, DUMSX returned 1.68%/yr vs 0.70%/yr for LSMSX. Their 0.70 correlation means they have sometimes moved together and sometimes differently. DUMSX charges 0.70%/yr vs 0.01%/yr for LSMSX.
Performance
DUMSX vs. LSMSX - Performance Comparison
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Returns By Period
In the year-to-date period, DUMSX achieves a 1.42% return, which is significantly higher than LSMSX's 1.12% return.
DUMSX
- 1D
- -0.37%
- 1M
- -1.98%
- 6M
- 0.69%
- YTD
- 1.42%
- 1Y
- 7.22%
- 3Y*
- 4.62%
- 5Y*
- 1.68%
- 10Y*
- 2.72%
- ALL TIME*
- 4.44%
LSMSX
- 1D
- -0.21%
- 1M
- -1.78%
- 6M
- 0.26%
- YTD
- 1.12%
- 1Y
- 6.64%
- 3Y*
- 3.47%
- 5Y*
- 0.70%
- 10Y*
- —
- ALL TIME*
- 2.68%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
DUMSX vs. LSMSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DUMSX Dupree Mississippi Tax-Free Income Series | 1.42% | 6.98% | 2.35% | 5.16% | -7.10% | 2.23% | 4.69% | 6.87% | 2.20% | 6.16% |
LSMSX Western Asset SMASh Series TF Fund | 1.12% | 3.22% | 2.22% | 7.96% | -10.03% | 4.11% | 4.48% | 8.16% | 0.46% | 4.92% |
Correlation
The correlation between DUMSX and LSMSX is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.66 |
Correlation (3Y) Balances recent behavior with more history. | 0.72 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.74 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2017 | 0.70 |
The correlation between DUMSX and LSMSX has been stable across timeframes, ranging from 0.66 to 0.74 - a consistent structural relationship.
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Return for Risk
DUMSX vs. LSMSX — Risk / Return Rank
DUMSX
LSMSX
DUMSX vs. LSMSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dupree Mississippi Tax-Free Income Series (DUMSX) and Western Asset SMASh Series TF Fund (LSMSX). 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.
| DUMSX | LSMSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +1.05 | ||
| Omega ratioGain probability vs. loss probability | 1.90 | 1.63 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 3.42 | 2.65 | +0.77 |
| Martin ratioReturn relative to average drawdown | 14.31 | 8.88 | +5.43 |
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Drawdowns
DUMSX vs. LSMSX - Drawdown Comparison
The maximum DUMSX drawdown since its inception was -11.62%, smaller than the maximum LSMSX drawdown of -15.00%. Use the drawdown chart below to compare losses from any high point for DUMSX and LSMSX.
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Drawdown Indicators
| DUMSX | LSMSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.62% | -15.00% | +3.38% |
Max Drawdown (1Y)Largest decline over 1 year | -2.42% | -2.82% | +0.40% |
Max Drawdown (3Y)Largest decline over 3 years | -6.08% | -7.49% | +1.41% |
Max Drawdown (5Y)Largest decline over 5 years | -11.03% | -14.92% | +3.89% |
Max Drawdown (10Y)Largest decline over 10 years | -11.03% | — | — |
Current DrawdownCurrent decline from peak | -1.98% | -1.78% | -0.20% |
Average DrawdownAverage peak-to-trough decline | -1.57% | -2.81% | +1.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.58% | 0.84% | -0.26% |
Volatility
DUMSX vs. LSMSX - Volatility Comparison
Dupree Mississippi Tax-Free Income Series (DUMSX) and Western Asset SMASh Series TF Fund (LSMSX) have volatilities of 1.00% and 1.01%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DUMSX | LSMSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.00% | 1.01% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 2.35% | 2.28% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.03% | 2.89% | +0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.23% | 4.51% | -0.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.88% | 4.48% | -0.60% |
DUMSX vs. LSMSX - Expense Ratio Comparison
DUMSX has a 0.70% expense ratio, which is higher than LSMSX's 0.01% expense ratio.
Dividends
DUMSX vs. LSMSX - Dividend Comparison
DUMSX's dividend yield for the trailing twelve months is around 5.16%, more than LSMSX's 3.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DUMSX Dupree Mississippi Tax-Free Income Series | 5.16% | 6.09% | 4.79% | 3.25% | 3.22% | 3.19% | 3.11% | 3.72% | 4.66% | 4.12% | 2.94% | 3.01% |
LSMSX Western Asset SMASh Series TF Fund | 3.94% | 3.83% | 4.30% | 3.37% | 2.38% | 2.73% | 2.33% | 2.55% | 2.34% | 0.90% | 0.00% | 0.00% |
Frequently Asked Questions
DUMSX and LSMSX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LSMSX has higher volatility (1.01%) compared to DUMSX (1.00%). In terms of maximum drawdown, DUMSX dropped -11.62% vs LSMSX's -15.00%.
DUMSX currently has the higher Sharpe Ratio (2.73 vs 2.59), 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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