WIP vs. NPFI
WIP (SPDR FTSE International Government Inflation-Protected Bond ETF) and NPFI (Nuveen Preferred And Income ETF) are both exchange-traded funds - WIP is a Inflation-Protected Bonds fund tracking the FTSE International Inflation-Linked Securities Select (USD), while NPFI is a Preferred Stock/Convertible Bonds fund actively managed by Nuveen. WIP is passively managed, while NPFI is actively managed. Over the past year, WIP returned 10.26% vs 7.90% for NPFI. At a 0.40 correlation, their price movements are largely independent. WIP charges 0.50%/yr vs 0.55%/yr for NPFI.
Performance
WIP vs. NPFI - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, WIP achieves a 4.31% return, which is significantly higher than NPFI's 1.62% return.
WIP
- 1D
- -0.72%
- 1M
- 0.70%
- YTD
- 4.31%
- 6M
- 4.96%
- 1Y
- 10.26%
- 3Y*
- 5.08%
- 5Y*
- -0.70%
- 10Y*
- 1.61%
NPFI
- 1D
- -0.11%
- 1M
- 0.76%
- YTD
- 1.62%
- 6M
- 2.06%
- 1Y
- 7.90%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
WIP vs. NPFI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
WIP SPDR FTSE International Government Inflation-Protected Bond ETF | 4.31% | 15.18% | -5.51% |
NPFI Nuveen Preferred And Income ETF | 1.62% | 9.21% | 6.56% |
Correlation
The correlation between WIP and NPFI is 0.53, 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 | 0.53 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024 | 0.40 |
The correlation between WIP and NPFI shifts across timeframes, from 0.40 (all time) to 0.53 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
WIP vs. NPFI — Risk / Return Rank
WIP
NPFI
WIP vs. NPFI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR FTSE International Government Inflation-Protected Bond ETF (WIP) and Nuveen Preferred And Income ETF (NPFI). 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.
| WIP | NPFI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.54 | ||
| Sortino ratioReturn per unit of downside risk | -2.52 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.64 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | 2.49 | -0.50 |
| Martin ratioReturn relative to average drawdown | 5.98 | 12.02 | -6.05 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| WIP | NPFI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.18 | 2.72 | -1.54 |
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 | 0.12 | 2.65 | -2.52 |
Drawdowns
WIP vs. NPFI - Drawdown Comparison
The maximum WIP drawdown since its inception was -29.60%, which is greater than NPFI's maximum drawdown of -3.18%. Use the drawdown chart below to compare losses from any high point for WIP and NPFI.
Loading charts...
Drawdown Indicators
| WIP | NPFI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.60% | -3.18% | -26.42% |
Max Drawdown (1Y)Largest decline over 1 year | -5.16% | -3.18% | -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 | -3.87% | -0.11% | -3.76% |
Average DrawdownAverage peak-to-trough decline | -8.58% | -0.34% | -8.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.72% | 0.66% | +1.06% |
Volatility
WIP vs. NPFI - Volatility Comparison
SPDR FTSE International Government Inflation-Protected Bond ETF (WIP) has a higher volatility of 2.95% compared to Nuveen Preferred And Income ETF (NPFI) at 0.83%. This indicates that WIP's price experiences larger fluctuations and is considered to be riskier than NPFI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| WIP | NPFI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.95% | 0.83% | +2.12% |
Volatility (6M)Calculated over the trailing 6-month period | 6.89% | 2.53% | +4.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.72% | 2.91% | +5.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.45% | 2.95% | +8.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.16% | 2.95% | +7.21% |
WIP vs. NPFI - Expense Ratio Comparison
WIP has a 0.50% expense ratio, which is lower than NPFI's 0.55% expense ratio.
Dividends
WIP vs. NPFI - Dividend Comparison
WIP's dividend yield for the trailing twelve months is around 5.79%, less than NPFI's 6.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NPFI Nuveen Preferred And Income ETF | 6.41% | 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 | 5.79% | 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
WIP and NPFI have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WIP has higher volatility (2.95%) compared to NPFI (0.83%). In terms of maximum drawdown, WIP dropped -29.60% vs NPFI's -3.18%.
On 1-year performance, WIP leads with 10.26% vs 7.90% for NPFI. On fees, WIP is cheaper at 0.50% per year. On volatility, NPFI has been the lower-risk option at 0.83%. 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 10.26% return vs 7.90%. 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 6.41%, compared with 5.79% for WIP.
WIP is categorized as Inflation-Protected Bonds, while NPFI is Preferred Stock/Convertible Bonds. They also come from different issuers: State Street and Nuveen. Their fees differ too: 0.50% for WIP and 0.55% for NPFI.
NPFI currently has the higher Sharpe Ratio (2.72 vs 1.18), 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.
Find the right allocation for WIP and NPFI
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer