WTAIX vs. ^GSPC
WTAIX (Wilmington Municipal Bond Fund) is Municipal Bonds fund managed by Wilmington Funds, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, WTAIX returned 1.32%/yr vs 13.29%/yr for ^GSPC. Their -0.03 correlation means they have often moved in opposite directions in the past.
Performance
WTAIX vs. ^GSPC - Performance Comparison
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Returns By Period
In the year-to-date period, WTAIX achieves a -0.51% return, which is significantly lower than ^GSPC's 11.03% return. Over the past 10 years, WTAIX has underperformed ^GSPC with an annualized return of 1.32%, while ^GSPC has yielded a comparatively higher 13.29% annualized return.
WTAIX
- 1D
- -0.08%
- 1M
- -1.68%
- 6M
- -1.45%
- YTD
- -0.51%
- 1Y
- 3.00%
- 3Y*
- 2.65%
- 5Y*
- 0.24%
- 10Y*
- 1.32%
- ALL TIME*
- 3.42%
^GSPC
- 1D
- 1.48%
- 1M
- 1.57%
- 6M
- 8.95%
- YTD
- 11.03%
- 1Y
- 21.84%
- 3Y*
- 19.28%
- 5Y*
- 11.54%
- 10Y*
- 13.29%
- ALL TIME*
- 8.11%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
^GSPC S&P 500 Index | $38.00T | $37.50T | $41.55T |
| $0.00 | $0.00 | $0.00 |
WTAIX vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WTAIX Wilmington Municipal Bond Fund | -0.51% | 5.05% | 0.73% | 5.14% | -8.01% | 0.55% | 2.60% | 7.12% | 0.86% | 4.30% |
^GSPC S&P 500 Index | 11.03% | 16.39% | 23.31% | 24.23% | -19.44% | 26.89% | 16.26% | 28.88% | -6.24% | 19.42% |
Correlation
The correlation between WTAIX and ^GSPC is 0.20, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.20 |
Correlation (3Y) Balances recent behavior with more history. | 0.14 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.12 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.03 |
Correlation (All Time) Calculated using the full available price history since Oct 29, 1993 | -0.03 |
The correlation between WTAIX and ^GSPC shifts across timeframes, from -0.03 (all time) to 0.20 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
WTAIX vs. ^GSPC — Risk / Return Rank
WTAIX
^GSPC
WTAIX vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Wilmington Municipal Bond Fund (WTAIX) and S&P 500 Index (^GSPC). 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.
| WTAIX | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.31 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.19 | 2.41 | -1.23 |
| Martin ratioReturn relative to average drawdown | 3.11 | 10.22 | -7.11 |
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Drawdowns
WTAIX vs. ^GSPC - Drawdown Comparison
The maximum WTAIX drawdown since its inception was -12.35%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for WTAIX and ^GSPC.
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Drawdown Indicators
| WTAIX | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.35% | -56.78% | +44.43% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -9.10% | +6.34% |
Max Drawdown (3Y)Largest decline over 3 years | -4.06% | -18.90% | +14.84% |
Max Drawdown (5Y)Largest decline over 5 years | -12.29% | -25.43% | +13.14% |
Max Drawdown (10Y)Largest decline over 10 years | -12.35% | -33.92% | +21.57% |
Current DrawdownCurrent decline from peak | -2.43% | -0.12% | -2.31% |
Average DrawdownAverage peak-to-trough decline | -1.63% | -10.70% | +9.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 2.14% | -1.09% |
Volatility
WTAIX vs. ^GSPC - Volatility Comparison
The current volatility for Wilmington Municipal Bond Fund (WTAIX) is 0.79%, while S&P 500 Index (^GSPC) has a volatility of 3.80%. This indicates that WTAIX experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WTAIX | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.79% | 3.80% | -3.01% |
Volatility (6M)Calculated over the trailing 6-month period | 1.84% | 10.20% | -8.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.22% | 12.86% | -10.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.10% | 17.02% | -13.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.43% | 18.08% | -14.65% |
Frequently Asked Questions
WTAIX and ^GSPC have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
^GSPC has higher volatility (3.80%) compared to WTAIX (0.79%). In terms of maximum drawdown, WTAIX dropped -12.35% vs ^GSPC's -56.78%.
^GSPC currently has the higher Sharpe Ratio (1.71 vs 1.50), 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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