WIW vs. WIA
WIW (Western Asset Inflation-Linked Opportunities & Income Fund) and WIA (Western Asset Inflation-Linked Income Fund) are both Inflation-Protected Bonds funds. Over the past 10 years, WIW returned 3.81%/yr vs 3.70%/yr for WIA. Their 0.56 correlation means they have sometimes moved together and sometimes differently.
Performance
WIW vs. WIA - Performance Comparison
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Returns By Period
In the year-to-date period, WIW achieves a 1.25% return, which is significantly higher than WIA's 0.15% return. Both investments have delivered pretty close results over the past 10 years, with WIW having a 3.81% annualized return and WIA not far behind at 3.70%.
WIW
- 1D
- -0.24%
- 1M
- -0.81%
- 6M
- 0.28%
- YTD
- 1.25%
- 1Y
- 3.11%
- 3Y*
- 6.49%
- 5Y*
- -0.03%
- 10Y*
- 3.81%
- ALL TIME*
- 3.14%
WIA
- 1D
- 0.00%
- 1M
- -1.70%
- 6M
- -0.36%
- YTD
- 0.15%
- 1Y
- 2.83%
- 3Y*
- 6.05%
- 5Y*
- -1.32%
- 10Y*
- 3.70%
- ALL TIME*
- 2.99%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $300.97K | $311.91K | $319.88K | |
| $1.78M | $1.82M | $2.38M |
WIW vs. WIA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WIW Western Asset Inflation-Linked Opportunities & Income Fund | 1.25% | 13.17% | 3.83% | 5.10% | -25.30% | 17.66% | 11.46% | 18.27% | -7.57% | 6.46% |
WIA Western Asset Inflation-Linked Income Fund | 0.15% | 11.43% | 6.08% | 5.04% | -25.85% | 7.70% | 19.35% | 18.98% | -6.83% | 6.41% |
Correlation
The correlation between WIW and WIA is 0.46, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.46 |
Correlation (3Y) Balances recent behavior with more history. | 0.60 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.61 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.57 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2004 | 0.56 |
The correlation between WIW and WIA shifts across timeframes, from 0.46 (1 year) to 0.61 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
WIW vs. WIA — Risk / Return Rank
WIW
WIA
WIW vs. WIA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Western Asset Inflation-Linked Opportunities & Income Fund (WIW) and Western Asset Inflation-Linked Income Fund (WIA). 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.
| WIW | WIA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.08 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.77 | 0.66 | +0.11 |
| Martin ratioReturn relative to average drawdown | 1.93 | 1.70 | +0.23 |
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Drawdowns
WIW vs. WIA - Drawdown Comparison
The maximum WIW drawdown since its inception was -29.49%, roughly equal to the maximum WIA drawdown of -30.36%. Use the drawdown chart below to compare losses from any high point for WIW and WIA.
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Drawdown Indicators
| WIW | WIA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.49% | -30.36% | +0.87% |
Max Drawdown (1Y)Largest decline over 1 year | -3.61% | -3.95% | +0.34% |
Max Drawdown (3Y)Largest decline over 3 years | -8.24% | -8.13% | -0.11% |
Max Drawdown (5Y)Largest decline over 5 years | -29.49% | -30.36% | +0.87% |
Max Drawdown (10Y)Largest decline over 10 years | -29.49% | -30.36% | +0.87% |
Current DrawdownCurrent decline from peak | -6.59% | -8.68% | +2.09% |
Average DrawdownAverage peak-to-trough decline | -7.96% | -8.71% | +0.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.43% | 1.52% | -0.09% |
Volatility
WIW vs. WIA - Volatility Comparison
The current volatility for Western Asset Inflation-Linked Opportunities & Income Fund (WIW) is 1.23%, while Western Asset Inflation-Linked Income Fund (WIA) has a volatility of 1.43%. This indicates that WIW experiences smaller price fluctuations and is considered to be less risky than WIA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WIW | WIA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.23% | 1.43% | -0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 4.23% | 3.75% | +0.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.43% | 5.75% | +0.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.09% | 9.57% | +0.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.98% | 10.55% | -0.57% |
Dividends
WIW vs. WIA - Dividend Comparison
WIW's dividend yield for the trailing twelve months is around 9.08%, more than WIA's 7.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
WIA Western Asset Inflation-Linked Income Fund | 7.88% | 7.50% | 7.50% | 11.08% | 15.23% | 10.65% | 5.71% | 3.41% | 3.91% | 3.43% | 3.34% | 3.63% |
WIW Western Asset Inflation-Linked Opportunities & Income Fund | 9.08% | 8.68% | 8.78% | 10.38% | 11.81% | 6.93% | 3.20% | 3.74% | 4.26% | 3.70% | 3.61% | 3.91% |
Frequently Asked Questions
WIW and WIA have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WIA has higher volatility (1.43%) compared to WIW (1.23%). In terms of maximum drawdown, WIW dropped -29.49% vs WIA's -30.36%.
WIA currently has the higher Sharpe Ratio (0.45 vs 0.43), 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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