Nuveen Michigan Municipal Bond Fund (FMITX) belongs to the Municipal Bonds category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with FMITX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to FMITX
FMITX charges 0.78% annually. There are 377 mutual funds in the Municipal Bonds category with lower expense ratios, going as low as 0.01%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Western Asset SMASh Series TF Fund | 0.01% | — | Dec 2015 | FMITX vs LSMSX | |
| Federated Hermes Conservative Municipal Microshort... | 0.05% | — | Feb 2021 | FMITX vs FHMIX | |
| Nuveen Municipal Total Return Managed Accounts | 0.05% | — | May 2007 | FMITX vs NMTRX | |
| Vanguard Tax-Managed Balanced Fund Admiral Shares | 0.05% | 12.30B | Sep 1994 | FMITX vs VTMFX | |
| Strategic Advisers Municipal Bond Fund | 0.06% | — | Jun 2021 | FMITX vs FSMUX |
Best Risk-Adjusted Alternatives to FMITX
FMITX has a PortfoliosLab risk / return rank of 67. There are 231 mutual funds in the Municipal Bonds category with higher risk-adjusted ranks, going as high as 100.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| DFA Short Term Municipal Bond Portfolio | 100 | — | Aug 2002 | FMITX vs DFSMX | |
| abrdn Ultra Short Municipal Income Fund | 100 | — | Dec 2002 | FMITX vs ATOIX | |
| DFA Short-Term Selective State Municipal Bond Port... | 99 | — | Apr 2022 | FMITX vs DFABX | |
| Federated Hermes Conservative Municipal Microshort... | 99 | — | Feb 2021 | FMITX vs FHMIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 99 | — | Apr 2016 | FMITX vs TFCYX |
Top Performing FMITX Alternatives (YTD)
FMITX is at -0.16% YTD. There are 387 mutual funds in the Municipal Bonds category with higher YTD returns, going as high as 10.88%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Nuveen Municipal Income Fund, Inc. | 10.88% | — | Apr 1998 | FMITX vs NMI | |
| Nuveen New York AMT Free Quality Municipal Income | 6.63% | — | Nov 2002 | FMITX vs NRK | |
| BlackRock MuniYield Michigan Quality Fund | 5.90% | — | Oct 1992 | FMITX vs MIY | |
| Vanguard Tax-Managed Balanced Fund Admiral Shares | 4.67% | 12.30B | Sep 1994 | FMITX vs VTMFX | |
| BlackRock MuniHoldings New Jersey Quality Fund | 3.83% | — | Mar 1998 | FMITX vs MUJ |
Lowest Volatility Alternatives to FMITX
FMITX has 2.96% 1-year volatility. There are 305 mutual funds in the Municipal Bonds category with lower 1-year volatility, going as low as 0.54%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| DFA Short Term Municipal Bond Portfolio | 0.54% | — | Aug 2002 | FMITX vs DFSMX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.57% | — | Apr 2022 | FMITX vs DFABX | |
| DFA California Short Term Municipal Bond Portfolio | 0.59% | — | Apr 2007 | FMITX vs DFCMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.63% | — | May 2016 | FMITX vs USMSX | |
| JPMorgan Ultra-Short Municipal Fund | 0.65% | — | May 2016 | FMITX vs USMTX |
Lowest Drawdown Alternatives to FMITX
FMITX has a 1-year max drawdown of -2.82%. There are 254 mutual funds in the Municipal Bonds category with shallower 1-year drawdowns, going as shallow as 0.00%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| BlackRock Allocation Target Shares | 0.00% | — | May 2021 | FMITX vs BATVX | |
| abrdn Ultra Short Municipal Income Fund | -0.10% | — | Dec 2002 | FMITX vs ATOIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | -0.10% | — | Apr 2016 | FMITX vs TFCYX | |
| Federated Hermes Conservative Municipal Microshort... | -0.10% | — | Feb 2021 | FMITX vs FHMIX | |
| DFA Short Term Municipal Bond Portfolio | -0.11% | — | Aug 2002 | FMITX vs DFSMX |
Other Mutual Funds from Nuveen
The 10 most viewed Nuveen mutual funds shown here include TIEIX, QQQX, TILIX and span 11 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Nuveen Equity Index Fund Class I | Large Cap Blend Equities | 58 | 10.32% | — | Jul 1999 | FMITX vs TIEIX | |
| Nuveen Nasdaq 100 Dynamic Overwrite Fund | Derivative Income, Options Trading, Nasdaq-100, Large Cap Growth Equities, Actively Managed | 63 | 10.40% | — | Jan 2007 | FMITX vs QQQX | |
| Nuveen Large Cap Growth Index Fund R6 Class | Large Cap Growth Equities | 10 | 0.47% | — | Oct 2002 | FMITX vs TILIX | |
| Nuveen S&P 500 Dynamic Overwrite Fund | S&P 500 | 31 | 8.76% | — | Nov 2005 | FMITX vs SPXX | |
| Nuveen Credit Strategies Income Fund | Bank Loan | 3 | 2.40% | — | Jun 2003 | FMITX vs JQC | |
| Nuveen High Yield Municipal Bond Fund | High Yield Muni | 85 | 2.14% | — | Jun 1999 | FMITX vs NHMRX | |
| Nuveen Preferred Securities & Income Fund | Preferred Stock | 69 | 0.93% | — | Dec 2006 | FMITX vs NPSRX | |
| Nuveen Dividend Growth Fund | Large Cap Blend Equities | 27 | 5.21% | — | Mar 2006 | FMITX vs NSBRX | |
| Nuveen Flexible Income Fund | Diversified Portfolio | 96 | 5.34% | — | Dec 2009 | FMITX vs NWQIX | |
| Nuveen Short Duration High Yield Municipal Bond Fu... | High Yield Muni | 88 | 1.83% | — | Jan 2013 | FMITX vs NVHIX |
Often Compared With FMITX
Investors most often compare FMITX with QQQ, NELIX, FASEX. These 20 comparison targets span 7 categories, based on PortfoliosLab usage data.
Compare FMITX with Any Fund or Stock
Compare FMITX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair FMITX with funds that move differently
Nuveen Michigan Municipal Bond Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to FMITX.
Explore FMITX Diversifiers