TFI vs. DLR

Last updated Jun 4, 2026

TFI (SPDR Nuveen Bloomberg Barclays Municipal Bond ETF) is Municipal Bonds fund tracking the Bloomberg US Municipal Managed Money (1-25 Y), while DLR (Digital Realty Trust, Inc.) is a stock. Over the past 10 years, TFI returned 1.51%/yr vs 10.16%/yr for DLR. At a 0.07 correlation, their price movements are largely independent.

Performance

TFI vs. DLR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Nuveen Bloomberg Barclays Municipal Bond ETF (TFI) and Digital Realty Trust, Inc. (DLR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TFI achieves a 1.19% return, which is significantly lower than DLR's 19.42% return. Over the past 10 years, TFI has underperformed DLR with an annualized return of 1.51%, while DLR has yielded a comparatively higher 10.16% 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%

DLR

• 1D: -2.01%
• 1M: -7.56%
• YTD: 19.42%
• 6M: 16.62%
• 1Y: 8.70%
• 3Y*: 24.34%
• 5Y*: 7.01%
• 10Y*: 10.16%

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

TFI vs. DLR - 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%
DLR Digital Realty Trust, Inc.	19.42%	-10.07%	35.90%	39.95%	-41.00%	30.66%	20.37%	16.52%	-3.00%	19.80%

Correlation

The correlation between TFI and DLR is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.24
Correlation (10Y) Calculated over the trailing 10-year period	0.19
Correlation (All Time) Calculated using the full available price history since Sep 14, 2007	0.07

The correlation between TFI and DLR shifts across timeframes, from 0.07 (all time) to 0.25 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

TFI vs. DLR — Risk / Return Rank

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

TFI

TFI Risk / Return Rank: 65
TFI Sharpe Ratio Rank: 72
TFI Sortino Ratio Rank: 76
TFI Omega Ratio Rank: 83
TFI Calmar Ratio Rank: 48
TFI Martin Ratio Rank: 48

DLR

DLR Risk / Return Rank: 50
DLR Sharpe Ratio Rank: 54
DLR Sortino Ratio Rank: 47
DLR Omega Ratio Rank: 45
DLR Calmar Ratio Rank: 52
DLR Martin Ratio Rank: 54

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.

TFI vs. DLR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Nuveen Bloomberg Barclays Municipal Bond ETF (TFI) and Digital Realty Trust, Inc. (DLR). 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	DLR	Difference
Sharpe ratio: Return per unit of total volatility	2.38	0.39	+1.99
Sortino ratio: Return per unit of downside risk	3.45	0.72	+2.73
Omega ratio: Gain probability vs. loss probability	1.50	1.08	+0.42
Calmar ratio: Return relative to maximum drawdown	2.40	0.52	+1.88
Martin ratio: Return relative to average drawdown	7.91	1.32	+6.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TFI vs. DLR - Sharpe Ratio Comparison

The current TFI Sharpe Ratio is 2.38, which is higher than the DLR Sharpe Ratio of 0.39. The chart below compares the historical Sharpe Ratios of TFI and DLR, 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

	TFI	DLR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.38	0.39	+1.99
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.02	0.25	-0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.30	0.36	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.56	-0.04

Drawdowns

TFI vs. DLR - Drawdown Comparison

The maximum TFI drawdown since its inception was -15.49%, smaller than the maximum DLR drawdown of -56.80%. Use the drawdown chart below to compare losses from any high point for TFI and DLR.

Drawdown Indicators

	TFI	DLR	Difference
Max Drawdown Largest peak-to-trough decline	-15.49%	-56.80%	+41.31%
Max Drawdown (1Y) Largest decline over 1 year	-2.79%	-16.83%	+14.04%
Max Drawdown (3Y) Largest decline over 3 years	-6.81%	-29.40%	+22.59%
Max Drawdown (5Y) Largest decline over 5 years	-15.41%	-48.52%	+33.11%
Max Drawdown (10Y) Largest decline over 10 years	-15.49%	-48.52%	+33.03%
Current Drawdown Current decline from peak	-1.21%	-10.01%	+8.80%
Average Drawdown Average peak-to-trough decline	-2.97%	-11.14%	+8.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.85%	6.63%	-5.78%

Volatility

TFI vs. DLR - Volatility Comparison

The current volatility for SPDR Nuveen Bloomberg Barclays Municipal Bond ETF (TFI) is 0.90%, while Digital Realty Trust, Inc. (DLR) has a volatility of 6.47%. This indicates that TFI experiences smaller price fluctuations and is considered to be less risky than DLR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TFI	DLR	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.90%	6.47%	-5.57%
Volatility (6M) Calculated over the trailing 6-month period	2.10%	15.99%	-13.89%
Volatility (1Y) Calculated over the trailing 1-year period	2.82%	22.30%	-19.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.31%	28.54%	-24.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.00%	28.17%	-23.17%

Dividends

TFI vs. DLR - Dividend Comparison

TFI's dividend yield for the trailing twelve months is around 3.48%, more than DLR's 2.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DLR Digital Realty Trust, Inc.	2.66%	3.15%	2.75%	3.63%	4.87%	2.62%	3.21%	3.61%	3.79%	3.27%	3.58%	4.50%
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

Can I hold both TFI and DLR in my portfolio?

TFI and DLR have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TFI or DLR?

DLR has higher volatility (6.47%) compared to TFI (0.90%). In terms of maximum drawdown, TFI dropped -15.49% vs DLR's -56.80%.

Which has better risk-adjusted returns?

TFI currently has the higher Sharpe Ratio (2.38 vs 0.39), 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.