HIPAX vs. DFAAX

Last updated Jun 4, 2026

HIPAX (Hartford Inflation Plus Fund) and DFAAX (DFA Global Core Plus Real Return Portfolio) are both Inflation-Protected Bonds funds. Over the past 5 years, HIPAX returned 1.65%/yr vs 5.25%/yr for DFAAX. A 0.80 correlation means they provide meaningful diversification when combined. HIPAX charges 0.84%/yr vs 0.29%/yr for DFAAX.

Performance

HIPAX vs. DFAAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hartford Inflation Plus Fund (HIPAX) and DFA Global Core Plus Real Return Portfolio (DFAAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HIPAX achieves a 1.64% return, which is significantly lower than DFAAX's 3.06% return.

HIPAX

• 1D: 0.00%
• 1M: -0.10%
• YTD: 1.64%
• 6M: 1.25%
• 1Y: 5.57%
• 3Y*: 4.25%
• 5Y*: 1.65%
• 10Y*: 2.62%

DFAAX

• 1D: 0.10%
• 1M: 0.82%
• YTD: 3.06%
• 6M: 2.63%
• 1Y: 5.28%
• 3Y*: 6.24%
• 5Y*: 5.25%
• 10Y*: —

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

HIPAX vs. DFAAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
HIPAX Hartford Inflation Plus Fund	1.64%	6.79%	1.72%	4.40%	-8.90%	3.56%
DFAAX DFA Global Core Plus Real Return Portfolio	3.06%	5.18%	4.41%	9.49%	-13.40%	20.47%

Correlation

The correlation between HIPAX and DFAAX is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (All Time) Calculated using the full available price history since May 6, 2021	0.80

The correlation between HIPAX and DFAAX has been stable across timeframes, ranging from 0.73 to 0.80 - a consistent structural relationship.

Return for Risk

HIPAX vs. DFAAX — Risk / Return Rank

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

HIPAX

HIPAX Risk / Return Rank: 46
HIPAX Sharpe Ratio Rank: 44
HIPAX Sortino Ratio Rank: 49
HIPAX Omega Ratio Rank: 46
HIPAX Calmar Ratio Rank: 45
HIPAX Martin Ratio Rank: 47

DFAAX

DFAAX Risk / Return Rank: 34
DFAAX Sharpe Ratio Rank: 35
DFAAX Sortino Ratio Rank: 36
DFAAX Omega Ratio Rank: 40
DFAAX Calmar Ratio Rank: 30
DFAAX Martin Ratio Rank: 31

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.

HIPAX vs. DFAAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hartford Inflation Plus Fund (HIPAX) and DFA Global Core Plus Real Return Portfolio (DFAAX). 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.

	HIPAX	DFAAX	Difference
Sharpe ratio: Return per unit of total volatility	1.95	1.71	+0.24
Sortino ratio: Return per unit of downside risk	2.97	2.50	+0.46
Omega ratio: Gain probability vs. loss probability	1.37	1.34	+0.03
Calmar ratio: Return relative to maximum drawdown	2.55	2.06	+0.50
Martin ratio: Return relative to average drawdown	9.88	7.27	+2.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HIPAX vs. DFAAX - Sharpe Ratio Comparison

The current HIPAX Sharpe Ratio is 1.95, which is comparable to the DFAAX Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of HIPAX and DFAAX, 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

	HIPAX	DFAAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.95	1.71	+0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	0.63	-0.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.63	+0.02

Drawdowns

HIPAX vs. DFAAX - Drawdown Comparison

The maximum HIPAX drawdown since its inception was -13.92%, smaller than the maximum DFAAX drawdown of -16.64%. Use the drawdown chart below to compare losses from any high point for HIPAX and DFAAX.

Drawdown Indicators

	HIPAX	DFAAX	Difference
Max Drawdown Largest peak-to-trough decline	-13.92%	-16.64%	+2.72%
Max Drawdown (1Y) Largest decline over 1 year	-2.11%	-2.55%	+0.44%
Max Drawdown (3Y) Largest decline over 3 years	-3.90%	-3.44%	-0.46%
Max Drawdown (5Y) Largest decline over 5 years	-11.61%	-16.64%	+5.03%
Max Drawdown (10Y) Largest decline over 10 years	-11.61%	—	—
Current Drawdown Current decline from peak	-0.20%	0.00%	-0.20%
Average Drawdown Average peak-to-trough decline	-3.79%	-4.55%	+0.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.54%	0.72%	-0.18%

Volatility

HIPAX vs. DFAAX - Volatility Comparison

Hartford Inflation Plus Fund (HIPAX) and DFA Global Core Plus Real Return Portfolio (DFAAX) have volatilities of 0.91% and 0.93%, 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.

Volatility by Period

	HIPAX	DFAAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.91%	0.93%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	2.02%	2.23%	-0.21%
Volatility (1Y) Calculated over the trailing 1-year period	2.77%	3.06%	-0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.06%	8.37%	-3.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.31%	8.32%	-4.01%

HIPAX vs. DFAAX - Expense Ratio Comparison

HIPAX has a 0.84% expense ratio, which is higher than DFAAX's 0.29% expense ratio.

Dividends

HIPAX vs. DFAAX - Dividend Comparison

HIPAX's dividend yield for the trailing twelve months is around 3.57%, more than DFAAX's 3.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DFAAX DFA Global Core Plus Real Return Portfolio	3.37%	2.90%	4.09%	3.96%	2.06%	13.05%	0.00%	0.00%	0.00%	0.00%	0.00%
HIPAX Hartford Inflation Plus Fund	3.57%	3.10%	2.71%	2.97%	6.00%	2.82%	1.61%	1.73%	3.79%	4.63%	1.18%

Frequently Asked Questions

Can I hold both HIPAX and DFAAX in my portfolio?

HIPAX and DFAAX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HIPAX or DFAAX?

DFAAX has higher volatility (0.93%) compared to HIPAX (0.91%). In terms of maximum drawdown, HIPAX dropped -13.92% vs DFAAX's -16.64%.

Which has better risk-adjusted returns?

HIPAX currently has the higher Sharpe Ratio (1.95 vs 1.71), 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.