NTFIX vs. AMZN

Last updated Aug 1, 2026

NTFIX (Dupree North Carolina Tax-Free Income Series) is Municipal Bonds fund managed by Dupree, while AMZN (Amazon.com, Inc) is a stock. Over the past 10 years, NTFIX returned 2.33%/yr vs 21.72%/yr for AMZN. Their -0.04 correlation means they have often moved in opposite directions in the past.

Performance

NTFIX vs. AMZN - Performance Comparison

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

Returns By Period

In the year-to-date period, NTFIX achieves a 0.51% return, which is significantly lower than AMZN's 17.66% return. Over the past 10 years, NTFIX has underperformed AMZN with an annualized return of 2.33%, while AMZN has yielded a comparatively higher 21.72% annualized return.

NTFIX

• 1D: -0.37%
• 1M: -2.03%
• 6M: -0.14%
• YTD: 0.51%
• 1Y: 5.17%
• 3Y*: 3.32%
• 5Y*: 0.75%
• 10Y*: 2.33%
• ALL TIME*: 4.09%

AMZN

• 1D: 15.32%
• 1M: 11.91%
• 6M: 13.49%
• YTD: 17.66%
• 1Y: 26.46%
• 3Y*: 27.29%
• 5Y*: 10.30%
• 10Y*: 21.72%
• ALL TIME*: 30.20%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AMZN Amazon.com, Inc	$13.00B	$11.21B	$12.30B
NTFIX Dupree North Carolina Tax-Free Income Series	$0.00	$0.00	$0.00

NTFIX vs. AMZN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NTFIX Dupree North Carolina Tax-Free Income Series	0.51%	4.53%	2.25%	5.48%	-8.44%	2.06%	5.81%	7.38%	2.05%	6.09%
AMZN Amazon.com, Inc	17.66%	5.21%	44.39%	80.88%	-49.62%	2.38%	76.26%	23.03%	28.43%	55.96%

Correlation

The correlation between NTFIX and AMZN is 0.13, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.13
Correlation (3Y) Balances recent behavior with more history.	0.06
Correlation (5Y) Shows whether the relationship held over a longer period.	0.09
Correlation (10Y) Provides a long-term view across more market conditions.	0.02
Correlation (All Time) Calculated using the full available price history since May 15, 1997	-0.04

The correlation between NTFIX and AMZN shifts across timeframes, from -0.04 (all time) to 0.13 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

NTFIX vs. AMZN — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NTFIX

NTFIX Risk / Return Rank: 85
NTFIX Sharpe Ratio Rank: 84
NTFIX Sortino Ratio Rank: 90
NTFIX Omega Ratio Rank: 96
NTFIX Calmar Ratio Rank: 76
NTFIX Martin Ratio Rank: 79

AMZN

AMZN Risk / Return Rank: 60
AMZN Sharpe Ratio Rank: 62
AMZN Sortino Ratio Rank: 58
AMZN Omega Ratio Rank: 56
AMZN Calmar Ratio Rank: 62
AMZN Martin Ratio Rank: 61

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NTFIX vs. AMZN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dupree North Carolina Tax-Free Income Series (NTFIX) and Amazon.com, Inc (AMZN). 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.

	NTFIX	AMZN	Difference
Sharpe ratio: Return per unit of total volatility	2.04	0.46	+1.58
Sortino ratio: Return per unit of downside risk	3.40	0.94	+2.45
Omega ratio: Gain probability vs. loss probability	1.63	1.11	+0.52
Calmar ratio: Return relative to maximum drawdown	2.53	0.74	+1.79
Martin ratio: Return relative to average drawdown	9.79	1.58	+8.22

NTFIX vs. AMZN - Sharpe Ratio Comparison

The current NTFIX Sharpe Ratio is 2.04, which is higher than the AMZN Sharpe Ratio of 0.46. The chart below compares the historical Sharpe Ratios of NTFIX and AMZN, 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

NTFIX vs. AMZN - Drawdown Comparison

The maximum NTFIX drawdown since its inception was -13.11%, smaller than the maximum AMZN drawdown of -94.40%. Use the drawdown chart below to compare losses from any high point for NTFIX and AMZN.

Drawdown Indicators

	NTFIX	AMZN	Difference
Max Drawdown Largest peak-to-trough decline	-13.11%	-94.40%	+81.29%
Max Drawdown (1Y) Largest decline over 1 year	-2.29%	-21.74%	+19.45%
Max Drawdown (3Y) Largest decline over 3 years	-5.79%	-30.88%	+25.09%
Max Drawdown (5Y) Largest decline over 5 years	-13.11%	-55.73%	+42.62%
Max Drawdown (10Y) Largest decline over 10 years	-13.11%	-56.15%	+43.04%
Current Drawdown Current decline from peak	-2.03%	-1.24%	-0.79%
Average Drawdown Average peak-to-trough decline	-1.73%	-28.11%	+26.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.59%	10.26%	-9.67%

Volatility

NTFIX vs. AMZN - Volatility Comparison

The current volatility for Dupree North Carolina Tax-Free Income Series (NTFIX) is 1.11%, while Amazon.com, Inc (AMZN) has a volatility of 16.52%. This indicates that NTFIX experiences smaller price fluctuations and is considered to be less risky than AMZN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NTFIX	AMZN	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.11%	16.52%	-15.41%
Volatility (6M) Calculated over the trailing 6-month period	2.25%	26.50%	-24.25%
Volatility (1Y) Calculated over the trailing 1-year period	2.85%	35.20%	-32.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.31%	36.27%	-31.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.11%	33.00%	-28.89%

Dividends

NTFIX vs. AMZN - Dividend Comparison

NTFIX's dividend yield for the trailing twelve months is around 3.06%, while AMZN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMZN Amazon.com, 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%
NTFIX Dupree North Carolina Tax-Free Income Series	3.06%	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 NTFIX and AMZN in my portfolio?

NTFIX and AMZN have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NTFIX or AMZN?

AMZN has higher volatility (16.52%) compared to NTFIX (1.11%). In terms of maximum drawdown, NTFIX dropped -13.11% vs AMZN's -94.40%.

Which has better risk-adjusted returns?

NTFIX currently has the higher Sharpe Ratio (2.04 vs 0.46), 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.