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 415 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 | |
| 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 | |
| Vanguard Tax-Managed Balanced Fund Admiral Shares | 0.05% | 12.30B | Sep 1994 | FNMTX vs VTMFX | |
| 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 84. There are 102 mutual funds in the Municipal Bonds category with higher risk-adjusted ranks, going as high as 100.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| abrdn Ultra Short Municipal Income Fund | 100 | — | Dec 2002 | FNMTX vs ATOIX | |
| DFA Short Term Municipal Bond Portfolio | 100 | — | Aug 2002 | FNMTX vs DFSMX | |
| DFA Short-Term Selective State Municipal Bond Port... | 100 | — | Apr 2022 | FNMTX vs DFABX | |
| Federated Hermes Conservative Municipal Microshort... | 99 | — | Feb 2021 | FNMTX vs FHMIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 99 | — | Apr 2016 | FNMTX vs TFCYX |
Top Performing FNMTX Alternatives (YTD)
FNMTX is at 0.30% YTD. There are 284 mutual funds in the Municipal Bonds category with higher YTD returns, going as high as 11.94%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Nuveen Municipal Income Fund, Inc. | 11.94% | — | Apr 1998 | FNMTX vs NMI | |
| BlackRock MuniYield Michigan Quality Fund | 7.21% | — | Oct 1992 | FNMTX vs MIY | |
| Nuveen New York AMT Free Quality Municipal Income | 7.15% | — | Nov 2002 | FNMTX vs NRK | |
| Vanguard Tax-Managed Balanced Fund Admiral Shares | 4.40% | 12.30B | Sep 1994 | FNMTX vs VTMFX | |
| AllianceBernstein National Municipal Income Fund | 3.80% | — | Nov 2001 | FNMTX vs AFB |
Lowest Volatility Alternatives to FNMTX
FNMTX has 2.86% 1-year volatility. There are 265 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 | FNMTX vs DFSMX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.56% | — | Apr 2022 | FNMTX vs DFABX | |
| DFA California Short Term Municipal Bond Portfolio | 0.59% | — | Apr 2007 | FNMTX vs DFCMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.63% | — | May 2016 | FNMTX vs USMSX | |
| DFA NY Municipal Bond Portfolio | 0.65% | — | Jun 2015 | FNMTX vs DNYMX |
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 | |
| SEI Institutional Managed Trust Tax-Free Conservat... | -0.10% | — | Apr 2016 | FNMTX vs TFCYX | |
| abrdn Ultra Short Municipal Income Fund | -0.10% | — | Dec 2002 | FNMTX vs ATOIX | |
| Federated Hermes Conservative Municipal Microshort... | -0.10% | — | Feb 2021 | FNMTX vs FHMIX | |
| DFA Short-Term Selective State Municipal Bond Port... | -0.11% | — | Apr 2022 | FNMTX vs DFABX |
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 | 63 | 9.70% | — | Jul 1999 | FNMTX vs TIEIX | |
| Nuveen Nasdaq 100 Dynamic Overwrite Fund | Derivative Income, Options Trading, Nasdaq-100, Large Cap Growth Equities, Actively Managed | 58 | 8.38% | — | Jan 2007 | FNMTX vs QQQX | |
| Nuveen Large Cap Growth Index Fund R6 Class | Large Cap Growth Equities | 12 | -0.33% | — | Oct 2002 | FNMTX vs TILIX | |
| Nuveen S&P 500 Dynamic Overwrite Fund | S&P 500 | 24 | 6.80% | — | Nov 2005 | FNMTX vs SPXX | |
| Nuveen Credit Strategies Income Fund | Bank Loan | 3 | 1.97% | — | Jun 2003 | FNMTX vs JQC | |
| Nuveen High Yield Municipal Bond Fund | High Yield Muni | 89 | 1.87% | — | Jun 1999 | FNMTX vs NHMRX | |
| Nuveen Preferred Securities & Income Fund | Preferred Stock | 73 | 0.35% | — | Dec 2006 | FNMTX vs NPSRX | |
| Nuveen Dividend Growth Fund | Large Cap Blend Equities | 30 | 5.28% | — | Mar 2006 | FNMTX vs NSBRX | |
| Nuveen Flexible Income Fund | Diversified Portfolio | 96 | 4.79% | — | Dec 2009 | FNMTX vs NWQIX | |
| Nuveen Short Duration High Yield Municipal Bond Fu... | High Yield Muni | 91 | 1.56% | — | Jan 2013 | FNMTX vs NVHIX |
Often Compared With FNMTX
Investors most often compare FNMTX with NVLIX, FASEX, FXIEX. These 11 comparison targets span 5 categories, based on PortfoliosLab usage data.
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