TFI vs. DIA
TFI (SPDR Nuveen Bloomberg Barclays Municipal Bond ETF) and DIA (State Street SPDR Dow Jones Industrial Average ETF Trust) are both exchange-traded funds - TFI is a Municipal Bonds fund tracking the Bloomberg US Municipal Managed Money (1-25 Y), while DIA is a Large Cap Blend Equities fund tracking the Dow Jones Industrial Average. Both are passively managed. Over the past 10 years, TFI returned 1.51%/yr vs 13.21%/yr for DIA. At a correlation of -0.08, they often move in opposite directions. TFI charges 0.23%/yr vs 0.16%/yr for DIA.
Performance
TFI vs. DIA - Performance Comparison
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Returns By Period
In the year-to-date period, TFI achieves a 1.19% return, which is significantly lower than DIA's 6.26% return. Over the past 10 years, TFI has underperformed DIA with an annualized return of 1.51%, while DIA has yielded a comparatively higher 13.21% annualized return.
TFI
- 1D
- -0.02%
- 1M
- 0.63%
- YTD
- 1.19%
- 6M
- 1.64%
- 1Y
- 6.67%
- 3Y*
- 2.99%
- 5Y*
- -0.07%
- 10Y*
- 1.51%
DIA
- 1D
- -1.13%
- 1M
- 3.88%
- YTD
- 6.26%
- 6M
- 6.75%
- 1Y
- 21.13%
- 3Y*
- 16.45%
- 5Y*
- 9.76%
- 10Y*
- 13.21%
TFI vs. DIA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TFI SPDR Nuveen Bloomberg Barclays Municipal Bond ETF | 1.19% | 3.62% | -0.01% | 5.62% | -10.17% | 0.25% | 5.82% | 7.41% | 0.52% | 5.50% |
DIA State Street SPDR Dow Jones Industrial Average ETF Trust | 6.26% | 14.71% | 14.82% | 16.02% | -7.02% | 20.83% | 9.59% | 24.70% | -3.74% | 28.08% |
Correlation
The correlation between TFI and DIA is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.00 |
Correlation (All Time) Calculated using the full available price history since Sep 14, 2007 | -0.08 |
The correlation between TFI and DIA shifts across timeframes, from -0.08 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TFI vs. DIA — Risk / Return Rank
TFI
DIA
TFI vs. DIA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Nuveen Bloomberg Barclays Municipal Bond ETF (TFI) and State Street SPDR Dow Jones Industrial Average ETF Trust (DIA). 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.
| TFI | DIA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.62 | ||
| Sortino ratioReturn per unit of downside risk | +0.88 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.31 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.40 | 2.18 | +0.23 |
| Martin ratioReturn relative to average drawdown | 7.91 | 8.42 | -0.51 |
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
| TFI | DIA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.38 | 1.76 | +0.62 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.02 | 0.66 | -0.68 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.30 | 0.76 | -0.45 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | 0.49 | +0.02 |
Drawdowns
TFI vs. DIA - Drawdown Comparison
The maximum TFI drawdown since its inception was -15.49%, smaller than the maximum DIA drawdown of -51.87%. Use the drawdown chart below to compare losses from any high point for TFI and DIA.
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Drawdown Indicators
| TFI | DIA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.49% | -51.87% | +36.38% |
Max Drawdown (1Y)Largest decline over 1 year | -2.79% | -9.76% | +6.97% |
Max Drawdown (3Y)Largest decline over 3 years | -6.81% | -15.95% | +9.14% |
Max Drawdown (5Y)Largest decline over 5 years | -15.41% | -20.76% | +5.35% |
Max Drawdown (10Y)Largest decline over 10 years | -15.49% | -36.70% | +21.21% |
Current DrawdownCurrent decline from peak | -1.21% | -1.13% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -2.97% | -7.14% | +4.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.85% | 2.52% | -1.67% |
Volatility
TFI vs. DIA - Volatility Comparison
The current volatility for SPDR Nuveen Bloomberg Barclays Municipal Bond ETF (TFI) is 0.90%, while State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) has a volatility of 2.97%. This indicates that TFI experiences smaller price fluctuations and is considered to be less risky than DIA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TFI | DIA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.90% | 2.97% | -2.07% |
Volatility (6M)Calculated over the trailing 6-month period | 2.10% | 9.28% | -7.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.82% | 12.10% | -9.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.31% | 14.78% | -10.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.00% | 17.53% | -12.53% |
TFI vs. DIA - Expense Ratio Comparison
TFI has a 0.23% expense ratio, which is higher than DIA's 0.16% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
TFI vs. DIA - Dividend Comparison
TFI's dividend yield for the trailing twelve months is around 3.48%, more than DIA's 1.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DIA State Street SPDR Dow Jones Industrial Average ETF Trust | 1.38% | 1.43% | 1.61% | 1.81% | 1.91% | 1.58% | 1.87% | 1.85% | 2.24% | 1.97% | 2.26% | 2.33% |
TFI SPDR Nuveen Bloomberg Barclays Municipal Bond ETF | 3.48% | 3.32% | 3.01% | 2.41% | 1.87% | 1.71% | 1.91% | 2.14% | 2.26% | 2.16% | 2.39% | 2.40% |
Frequently Asked Questions
TFI and DIA have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DIA has higher volatility (2.97%) compared to TFI (0.90%). In terms of maximum drawdown, TFI dropped -15.49% vs DIA's -51.87%.
On 10-year performance, DIA leads with 13.21% vs 1.51% for TFI. On fees, DIA is cheaper at 0.16% per year. On volatility, TFI has been the lower-risk option at 0.90%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DIA has performed better with a 13.21% return vs 1.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DIA is cheaper with a 0.16% expense ratio, compared with 0.23% for TFI.
TFI has the higher dividend yield at 3.48%, compared with 1.38% for DIA.
TFI is categorized as Municipal Bonds, while DIA is Large Cap Blend Equities. TFI tracks Bloomberg US Municipal Managed Money (1-25 Y), while DIA tracks Dow Jones Industrial Average. Their fees differ too: 0.23% for TFI and 0.16% for DIA.
TFI currently has the higher Sharpe Ratio (2.38 vs 1.76), 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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