Nuveen New Mexico Municipal Bond Fund (FNMTX) 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 FNMTX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to FNMTX
FNMTX charges 0.84% annually. There are 413 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 | FNMTX vs LSMSX | |
| Vanguard Tax-Managed Balanced Fund Admiral Shares | 0.05% | 12.30B | Sep 1994 | FNMTX vs VTMFX | |
| Nuveen Municipal Total Return Managed Accounts | 0.05% | — | May 2007 | FNMTX vs NMTRX | |
| Federated Hermes Conservative Municipal Microshort... | 0.05% | — | Feb 2021 | FNMTX vs FHMIX | |
| Strategic Advisers Municipal Bond Fund | 0.06% | — | Jun 2021 | FNMTX vs FSMUX |
Best Risk-Adjusted Alternatives to FNMTX
FNMTX has a PortfoliosLab risk / return rank of 82. There are 52 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 Selective State Municipal Bond Port... | 100 | — | Apr 2022 | FNMTX vs DFABX | |
| abrdn Ultra Short Municipal Income Fund | 99 | — | Dec 2002 | FNMTX vs ATOIX | |
| DFA NY Municipal Bond Portfolio | 99 | — | Jun 2015 | FNMTX vs DNYMX | |
| DFA California Short Term Municipal Bond Portfolio | 99 | — | Apr 2007 | FNMTX vs DFCMX | |
| DFA Short Term Municipal Bond Portfolio | 99 | — | Aug 2002 | FNMTX vs DFSMX |
Top Performing FNMTX Alternatives (YTD)
FNMTX is at 1.93% YTD. There are 153 mutual funds in the Municipal Bonds category with higher YTD returns, going as high as 9.28%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Nuveen New York AMT Free Quality Municipal Income | 9.28% | — | Nov 2002 | FNMTX vs NRK | |
| Nuveen Municipal Income Fund, Inc. | 8.28% | — | Apr 1998 | FNMTX vs NMI | |
| AllianceBernstein National Municipal Income Fund | 7.53% | — | Nov 2001 | FNMTX vs AFB | |
| Nuveen Virginia Quality Municipal Income Fund | 6.33% | — | Mar 1993 | FNMTX vs NPV | |
| BlackRock MuniYield Michigan Quality Fund | 5.87% | — | Oct 1992 | FNMTX vs MIY |
Lowest Volatility Alternatives to FNMTX
FNMTX has 2.76% 1-year volatility. There are 267 mutual funds in the Municipal Bonds category with lower 1-year volatility, going as low as 0.57%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| DFA Short-Term Selective State Municipal Bond Port... | 0.57% | — | Apr 2022 | FNMTX vs DFABX | |
| JPMorgan Ultra-Short Municipal Fund | 0.59% | — | May 2016 | FNMTX vs USMSX | |
| JPMorgan Ultra-Short Municipal Fund | 0.59% | — | May 2016 | FNMTX vs USMTX | |
| DFA California Short Term Municipal Bond Portfolio | 0.59% | — | Apr 2007 | FNMTX vs DFCMX | |
| DFA Short Term Municipal Bond Portfolio | 0.61% | — | Aug 2002 | FNMTX vs DFSMX |
Lowest Drawdown Alternatives to FNMTX
FNMTX has a 1-year max drawdown of -2.55%. There are 163 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 | FNMTX vs BATVX | |
| abrdn Ultra Short Municipal Income Fund | -0.10% | — | Dec 2002 | FNMTX vs ATOIX | |
| Cavanal Hill Ultra Short Tax-Free Income Fund | -0.10% | — | Dec 2017 | FNMTX vs APUSX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | -0.10% | — | Apr 2016 | FNMTX vs TFCYX | |
| Federated Hermes Conservative Municipal Microshort... | -0.10% | — | Feb 2021 | FNMTX vs FHMIX |
Other Mutual Funds from Nuveen
The 10 most viewed Nuveen mutual funds shown here include TIEIX, QQQX, SPXX and span 12 categories.
Often Compared With FNMTX
Investors most often compare FNMTX with FXIEX, NELIX, MUJ. These 5 comparison targets span 2 categories, based on PortfoliosLab usage data.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| PIMCO Fixed Income SHares: Series TE | Municipal Bonds | 79 | 1.92% | — | Jun 2012 | FNMTX vs FXIEX | |
| Nuveen Equity Long/Short Fund | Long-Short | 58 | 8.44% | — | Dec 2008 | FNMTX vs NELIX | |
| BlackRock MuniHoldings New Jersey Quality Fund | Municipal Bonds | 57 | 5.53% | — | Mar 1998 | FNMTX vs MUJ | |
| Strategic Advisers Tax-Sensitive Short Duration Fu... | Municipal Bonds | 97 | 0.77% | — | Dec 2017 | FNMTX vs FGNSX | |
| BlackRock MuniYield Pennsylvania Quality Fund | Municipal Bonds | 29 | 4.13% | — | Nov 1992 | FNMTX vs MPA |
Compare FNMTX with Any Fund or Stock
Compare FNMTX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair FNMTX with funds that move differently
Nuveen New Mexico Municipal Bond Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to FNMTX.
Explore FNMTX Diversifiers