NPFI vs. WIP
NPFI (Nuveen Preferred And Income ETF) and WIP (SPDR FTSE International Government Inflation-Protected Bond ETF) are both exchange-traded funds - NPFI is a Preferred Stock/Convertible Bonds fund actively managed by Nuveen, while WIP is a Inflation-Protected Bonds fund tracking the FTSE International Inflation-Linked Securities Select (USD). NPFI is actively managed, while WIP is passively managed. Over the past year, NPFI returned 7.77% vs 10.10% for WIP. At a 0.40 correlation, their price movements are largely independent. NPFI charges 0.55%/yr vs 0.50%/yr for WIP.
Performance
NPFI vs. WIP - Performance Comparison
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Returns By Period
In the year-to-date period, NPFI achieves a 1.68% return, which is significantly lower than WIP's 4.57% return.
NPFI
- 1D
- 0.06%
- 1M
- 0.43%
- YTD
- 1.68%
- 6M
- 2.17%
- 1Y
- 7.77%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
WIP
- 1D
- 0.25%
- 1M
- 0.45%
- YTD
- 4.57%
- 6M
- 5.30%
- 1Y
- 10.10%
- 3Y*
- 5.09%
- 5Y*
- -0.65%
- 10Y*
- 1.63%
NPFI vs. WIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
NPFI Nuveen Preferred And Income ETF | 1.68% | 9.21% | 6.56% |
WIP SPDR FTSE International Government Inflation-Protected Bond ETF | 4.57% | 15.18% | -5.51% |
Correlation
The correlation between NPFI and WIP is 0.52, 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 | 0.52 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024 | 0.40 |
The correlation between NPFI and WIP shifts across timeframes, from 0.40 (all time) to 0.52 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
NPFI vs. WIP — Risk / Return Rank
NPFI
WIP
NPFI vs. WIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Preferred And Income ETF (NPFI) and SPDR FTSE International Government Inflation-Protected Bond ETF (WIP). 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.
| NPFI | WIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.52 | ||
| Sortino ratioReturn per unit of downside risk | +2.48 | ||
| Omega ratioGain probability vs. loss probability | 1.63 | 1.20 | +0.43 |
| Calmar ratioReturn relative to maximum drawdown | 2.45 | 1.97 | +0.49 |
| Martin ratioReturn relative to average drawdown | 11.83 | 5.89 | +5.94 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NPFI | WIP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.68 | 1.16 | +1.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.06 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.16 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.66 | 0.13 | +2.53 |
Drawdowns
NPFI vs. WIP - Drawdown Comparison
The maximum NPFI drawdown since its inception was -3.18%, smaller than the maximum WIP drawdown of -29.60%. Use the drawdown chart below to compare losses from any high point for NPFI and WIP.
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Drawdown Indicators
| NPFI | WIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.18% | -29.60% | +26.42% |
Max Drawdown (1Y)Largest decline over 1 year | -3.18% | -5.16% | +1.98% |
Max Drawdown (3Y)Largest decline over 3 years | — | -11.16% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -28.84% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -28.84% | — |
Current DrawdownCurrent decline from peak | -0.06% | -3.63% | +3.57% |
Average DrawdownAverage peak-to-trough decline | -0.34% | -8.58% | +8.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 1.72% | -1.06% |
Volatility
NPFI vs. WIP - Volatility Comparison
The current volatility for Nuveen Preferred And Income ETF (NPFI) is 0.75%, while SPDR FTSE International Government Inflation-Protected Bond ETF (WIP) has a volatility of 2.92%. This indicates that NPFI experiences smaller price fluctuations and is considered to be less risky than WIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NPFI | WIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.75% | 2.92% | -2.17% |
Volatility (6M)Calculated over the trailing 6-month period | 2.53% | 6.88% | -4.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.91% | 8.72% | -5.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.95% | 11.44% | -8.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.95% | 10.16% | -7.21% |
NPFI vs. WIP - Expense Ratio Comparison
NPFI has a 0.55% expense ratio, which is higher than WIP's 0.50% expense ratio.
Dividends
NPFI vs. WIP - Dividend Comparison
NPFI's dividend yield for the trailing twelve months is around 6.40%, more than WIP's 5.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NPFI Nuveen Preferred And Income ETF | 6.40% | 6.33% | 5.10% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
WIP SPDR FTSE International Government Inflation-Protected Bond ETF | 5.77% | 5.51% | 6.06% | 6.54% | 11.15% | 4.63% | 1.59% | 2.49% | 4.05% | 1.91% | 1.27% | 1.14% |
Frequently Asked Questions
NPFI and WIP have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WIP has higher volatility (2.92%) compared to NPFI (0.75%). In terms of maximum drawdown, NPFI dropped -3.18% vs WIP's -29.60%.
On 1-year performance, WIP leads with 10.10% vs 7.77% for NPFI. On fees, WIP is cheaper at 0.50% per year. On volatility, NPFI has been the lower-risk option at 0.75%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, WIP has performed better with a 10.10% return vs 7.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
WIP is cheaper with a 0.50% expense ratio, compared with 0.55% for NPFI.
NPFI has the higher dividend yield at 6.40%, compared with 5.77% for WIP.
NPFI is categorized as Preferred Stock/Convertible Bonds, while WIP is Inflation-Protected Bonds. They also come from different issuers: Nuveen and State Street. Their fees differ too: 0.55% for NPFI and 0.50% for WIP.
NPFI currently has the higher Sharpe Ratio (2.68 vs 1.16), 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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