TFI vs. IVES

Last updated Jun 25, 2026

TFI (SPDR Nuveen Bloomberg Barclays Municipal Bond ETF) and IVES (Dan IVES Wedbush AI Revolution ETF) are both exchange-traded funds - TFI is a Municipal Bonds fund tracking the Bloomberg US Municipal Managed Money (1-25 Y), while IVES is a Technology Equities fund tracking the Solactive Wedbush Artificial Intelligence Index. Both are passively managed. Over the past year, TFI returned 6.35% vs 35.69% for IVES. At a 0.20 correlation, their price movements are largely independent. TFI charges 0.23%/yr vs 0.75%/yr for IVES.

Performance

TFI vs. IVES - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Nuveen Bloomberg Barclays Municipal Bond ETF (TFI) and Dan IVES Wedbush AI Revolution ETF (IVES). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TFI achieves a 1.48% return, which is significantly lower than IVES's 14.36% return.

TFI

• 1D: 0.22%
• 1M: 1.45%
• YTD: 1.48%
• 6M: 1.48%
• 1Y: 6.35%
• 3Y*: 2.74%
• 5Y*: 0.03%
• 10Y*: 1.39%

IVES

• 1D: -1.36%
• 1M: -2.95%
• YTD: 14.36%
• 6M: 11.68%
• 1Y: 35.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TFI vs. IVES - Yearly Performance Comparison

	2026 (YTD)	2025
TFI SPDR Nuveen Bloomberg Barclays Municipal Bond ETF	1.48%	5.42%
IVES Dan IVES Wedbush AI Revolution ETF	14.36%	25.11%

Correlation

The correlation between TFI and IVES is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (All Time) Calculated using the full available price history since Jun 4, 2025	0.20

Return for Risk

TFI vs. IVES — Risk / Return Rank

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

TFI

TFI Risk / Return Rank: 71
TFI Sharpe Ratio Rank: 81
TFI Sortino Ratio Rank: 84
TFI Omega Ratio Rank: 88
TFI Calmar Ratio Rank: 52
TFI Martin Ratio Rank: 49

IVES

IVES Risk / Return Rank: 37
IVES Sharpe Ratio Rank: 41
IVES Sortino Ratio Rank: 38
IVES Omega Ratio Rank: 38
IVES Calmar Ratio Rank: 34
IVES Martin Ratio Rank: 32

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. IVES - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Nuveen Bloomberg Barclays Municipal Bond ETF (TFI) and Dan IVES Wedbush AI Revolution ETF (IVES). 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.

	TFI	IVES	Difference
Sharpe ratio: Return per unit of total volatility	2.30	1.33	+0.97
Sortino ratio: Return per unit of downside risk	3.33	1.82	+1.51
Omega ratio: Gain probability vs. loss probability	1.49	1.23	+0.26
Calmar ratio: Return relative to maximum drawdown	2.29	1.58	+0.70
Martin ratio: Return relative to average drawdown	7.36	4.30	+3.06

TFI vs. IVES - Sharpe Ratio Comparison

The current TFI Sharpe Ratio is 2.30, which is higher than the IVES Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of TFI and IVES, 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

TFI vs. IVES - Drawdown Comparison

The maximum TFI drawdown since its inception was -15.49%, smaller than the maximum IVES drawdown of -22.64%. Use the drawdown chart below to compare losses from any high point for TFI and IVES.

Drawdown Indicators

	TFI	IVES	Difference
Max Drawdown Largest peak-to-trough decline	-15.49%	-22.64%	+7.15%
Max Drawdown (1Y) Largest decline over 1 year	-2.79%	-22.64%	+19.85%
Max Drawdown (3Y) Largest decline over 3 years	-6.81%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.41%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-15.49%	—	—
Current Drawdown Current decline from peak	-0.93%	-13.37%	+12.44%
Average Drawdown Average peak-to-trough decline	-2.96%	-5.86%	+2.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.86%	8.32%	-7.46%

Volatility

TFI vs. IVES - Volatility Comparison

The current volatility for SPDR Nuveen Bloomberg Barclays Municipal Bond ETF (TFI) is 0.76%, while Dan IVES Wedbush AI Revolution ETF (IVES) has a volatility of 11.81%. This indicates that TFI experiences smaller price fluctuations and is considered to be less risky than IVES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TFI	IVES	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.76%	11.81%	-11.05%
Volatility (6M) Calculated over the trailing 6-month period	2.16%	21.22%	-19.06%
Volatility (1Y) Calculated over the trailing 1-year period	2.78%	27.13%	-24.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.31%	26.65%	-22.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.99%	26.65%	-21.66%

TFI vs. IVES - Expense Ratio Comparison

TFI has a 0.23% expense ratio, which is lower than IVES's 0.75% expense ratio.

Dividends

TFI vs. IVES - Dividend Comparison

TFI's dividend yield for the trailing twelve months is around 3.47%, more than IVES's 0.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVES Dan IVES Wedbush AI Revolution ETF	0.36%	0.41%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TFI SPDR Nuveen Bloomberg Barclays Municipal Bond ETF	3.47%	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 IVES in my portfolio?

TFI and IVES have a correlation of 0.21, 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 IVES?

IVES has higher volatility (11.81%) compared to TFI (0.76%). In terms of maximum drawdown, TFI dropped -15.49% vs IVES's -22.64%.

Which ETF is better, TFI or IVES?

On 1-year performance, IVES leads with 35.69% vs 6.35% for TFI. On fees, TFI is cheaper at 0.23% per year. On volatility, TFI has been the lower-risk option at 0.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TFI or IVES?

Over the 1-year period, IVES has performed better with a 35.69% return vs 6.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TFI or IVES?

TFI is cheaper with a 0.23% expense ratio, compared with 0.75% for IVES.

Which ETF pays a higher dividend yield, TFI or IVES?

TFI has the higher dividend yield at 3.47%, compared with 0.36% for IVES.

What is the main difference between TFI and IVES?

TFI is categorized as Municipal Bonds, while IVES is Technology Equities. TFI tracks Bloomberg US Municipal Managed Money (1-25 Y), while IVES tracks Solactive Wedbush Artificial Intelligence Index. They also come from different issuers: State Street and Wedbush. Their fees differ too: 0.23% for TFI and 0.75% for IVES.

Which has better risk-adjusted returns?

TFI currently has the higher Sharpe Ratio (2.30 vs 1.33), 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.