DUTMX vs. NTFIX

Last updated Jun 5, 2026

DUTMX (Dupree Taxable Municipal Bond Fund) and NTFIX (Dupree North Carolina Tax-Free Income Series) are both mutual funds - DUTMX is a Intermediate Core Bond fund managed by Dupree, while NTFIX is a Municipal Bonds fund managed by Dupree. Over the past 10 years, DUTMX returned 0.42%/yr vs 2.56%/yr for NTFIX. At a 0.49 correlation, their price movements are largely independent. DUTMX charges 1.00%/yr vs 0.68%/yr for NTFIX.

Performance

DUTMX vs. NTFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dupree Taxable Municipal Bond Fund (DUTMX) and Dupree North Carolina Tax-Free Income Series (NTFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DUTMX achieves a 0.74% return, which is significantly lower than NTFIX's 1.42% return. Over the past 10 years, DUTMX has underperformed NTFIX with an annualized return of 0.42%, while NTFIX has yielded a comparatively higher 2.56% annualized return.

DUTMX

• 1D: -0.14%
• 1M: 0.38%
• YTD: 0.74%
• 6M: 0.87%
• 1Y: 5.87%
• 3Y*: 3.26%
• 5Y*: -2.46%
• 10Y*: 0.42%

NTFIX

• 1D: 0.00%
• 1M: 0.37%
• YTD: 1.42%
• 6M: 2.10%
• 1Y: 7.03%
• 3Y*: 3.90%
• 5Y*: 1.14%
• 10Y*: 2.56%

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

DUTMX vs. NTFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DUTMX Dupree Taxable Municipal Bond Fund	0.74%	6.44%	1.09%	6.83%	-25.27%	0.28%	6.24%	6.66%	2.04%	5.12%
NTFIX Dupree North Carolina Tax-Free Income Series	1.42%	4.53%	2.25%	5.48%	-8.44%	2.06%	5.81%	7.38%	2.05%	6.09%

Correlation

The correlation between DUTMX and NTFIX is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.51
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 Nov 5, 2010	0.49

The correlation between DUTMX and NTFIX has been stable across timeframes, ranging from 0.43 to 0.51 - a consistent structural relationship.

Return for Risk

DUTMX vs. NTFIX — Risk / Return Rank

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

DUTMX

DUTMX Risk / Return Rank: 19
DUTMX Sharpe Ratio Rank: 18
DUTMX Sortino Ratio Rank: 19
DUTMX Omega Ratio Rank: 17
DUTMX Calmar Ratio Rank: 22
DUTMX Martin Ratio Rank: 20

NTFIX

NTFIX Risk / Return Rank: 79
NTFIX Sharpe Ratio Rank: 79
NTFIX Sortino Ratio Rank: 93
NTFIX Omega Ratio Rank: 96
NTFIX Calmar Ratio Rank: 63
NTFIX Martin Ratio Rank: 65

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.

DUTMX vs. NTFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dupree Taxable Municipal Bond Fund (DUTMX) 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.

	DUTMX	NTFIX	Difference
Sharpe ratio: Return per unit of total volatility	1.18	2.57	-1.38
Sortino ratio: Return per unit of downside risk	1.78	4.70	-2.92
Omega ratio: Gain probability vs. loss probability	1.21	1.88	-0.66
Calmar ratio: Return relative to maximum drawdown	1.68	2.99	-1.31
Martin ratio: Return relative to average drawdown	5.11	12.34	-7.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DUTMX vs. NTFIX - Sharpe Ratio Comparison

The current DUTMX Sharpe Ratio is 1.18, which is lower than the NTFIX Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of DUTMX and NTFIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DUTMX	NTFIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.18	2.57	-1.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.28	0.27	-0.55
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.06	0.62	-0.56
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	1.03	-0.67

Drawdowns

DUTMX vs. NTFIX - Drawdown Comparison

The maximum DUTMX drawdown since its inception was -30.53%, which is greater than NTFIX's maximum drawdown of -13.11%. Use the drawdown chart below to compare losses from any high point for DUTMX and NTFIX.

Drawdown Indicators

	DUTMX	NTFIX	Difference
Max Drawdown Largest peak-to-trough decline	-30.53%	-13.11%	-17.42%
Max Drawdown (1Y) Largest decline over 1 year	-4.05%	-2.29%	-1.76%
Max Drawdown (3Y) Largest decline over 3 years	-8.67%	-5.79%	-2.88%
Max Drawdown (5Y) Largest decline over 5 years	-30.53%	-13.11%	-17.42%
Max Drawdown (10Y) Largest decline over 10 years	-30.53%	-13.11%	-17.42%
Current Drawdown Current decline from peak	-14.92%	-0.00%	-14.92%
Average Drawdown Average peak-to-trough decline	-6.95%	-1.74%	-5.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.32%	0.55%	+0.77%

Volatility

DUTMX vs. NTFIX - Volatility Comparison

Dupree Taxable Municipal Bond Fund (DUTMX) has a higher volatility of 1.86% compared to Dupree North Carolina Tax-Free Income Series (NTFIX) at 0.89%. This indicates that DUTMX'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.

Volatility by Period

	DUTMX	NTFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.86%	0.89%	+0.97%
Volatility (6M) Calculated over the trailing 6-month period	3.81%	1.94%	+1.87%
Volatility (1Y) Calculated over the trailing 1-year period	5.72%	2.67%	+3.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.83%	4.28%	+4.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.08%	4.10%	+2.98%

DUTMX vs. NTFIX - Expense Ratio Comparison

DUTMX has a 1.00% expense ratio, which is higher than NTFIX's 0.68% expense ratio.

Dividends

DUTMX vs. NTFIX - Dividend Comparison

DUTMX's dividend yield for the trailing twelve months is around 4.50%, more than NTFIX's 2.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DUTMX Dupree Taxable Municipal Bond Fund	4.50%	4.57%	4.26%	4.02%	4.28%	2.32%	4.69%	5.18%	5.04%	4.89%	4.84%	4.77%
NTFIX Dupree North Carolina Tax-Free Income Series	2.96%	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

Can I hold both DUTMX and NTFIX in my portfolio?

DUTMX and NTFIX have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DUTMX or NTFIX?

DUTMX has higher volatility (1.86%) compared to NTFIX (0.89%). In terms of maximum drawdown, DUTMX dropped -30.53% vs NTFIX's -13.11%.

Which has better risk-adjusted returns?

NTFIX currently has the higher Sharpe Ratio (2.57 vs 1.18), 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.