NHMAX Alternatives & Similar Mutual Funds

Nuveen High Yield Municipal Bond Fund Class A (NHMAX) belongs to the High Yield Muni category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with NHMAX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to NHMAX

NHMAX charges 2.00% annually. There are 49 mutual funds in the High Yield Muni category with lower expense ratios, going as low as 0.09%.

Symbol	Name	Expense Ratio	AUM	Inception
VWALX	Vanguard High-Yield Tax-Exempt Fund Admiral Shares	0.09%	17.60B	Nov 2001	NHMAX vs VWALX
BATEX	BlackRock Allocation Target Shares Series E Portfo...	0.11%	—	Aug 2014	NHMAX vs BATEX
VWAHX	Vanguard High-Yield Tax-Exempt Fund Investor Share...	0.17%	17.60B	Dec 1978	NHMAX vs VWAHX
EWHYX	Eaton Vance High Yield Municipal Income Fund Class...	0.18%	—	May 2007	NHMAX vs EWHYX
HIMFX	American High-Income Municipal Bond Fund Class F-3	0.31%	—	Jan 2017	NHMAX vs HIMFX

Best Risk-Adjusted Alternatives to NHMAX

NHMAX has a PortfoliosLab risk / return rank of 59. There are 40 mutual funds in the High Yield Muni category with higher risk-adjusted ranks, going as high as 93.

Symbol	Name	Risk / Return Rank	AUM	Inception
PRFHX	T. Rowe Price Tax Free High Yield Fund	93	—	Feb 1985	NHMAX vs PRFHX
FHTFX	Federated Hermes Municipal High Yield Advtg Fd	91	—	Apr 1987	NHMAX vs FHTFX
ISHYX	Invesco Short Duration High Yield Municipal Fund	90	—	Sep 2015	NHMAX vs ISHYX
SRHMX	Columbia High Yield Municipal Fund	83	—	Mar 1984	NHMAX vs SRHMX
EWHYX	Eaton Vance High Yield Municipal Income Fund Class...	82	—	May 2007	NHMAX vs EWHYX

Top Performing NHMAX Alternatives (YTD)

NHMAX is at 3.38% YTD. There are 4 mutual funds in the High Yield Muni category with higher YTD returns, going as high as 5.27%.

Symbol	Name	YTD Return	AUM	Inception
NMZ	Nuveen Municipal High Income Opportunity Fund	5.27%	—	Nov 2003	NHMAX vs NMZ
EWHYX	Eaton Vance High Yield Municipal Income Fund Class...	3.60%	—	May 2007	NHMAX vs EWHYX
NHMFX	Nuveen High Yield Municipal Bond Fund Class R6	3.49%	—	Jun 2016	NHMAX vs NHMFX
NHMRX	Nuveen High Yield Municipal Bond Fund	3.47%	—	Jun 1999	NHMAX vs NHMRX
SRHMX	Columbia High Yield Municipal Fund	3.38%	—	Mar 1984	NHMAX vs SRHMX

Lowest Volatility Alternatives to NHMAX

NHMAX has 4.40% 1-year volatility. There are 46 mutual funds in the High Yield Muni category with lower 1-year volatility, going as low as 2.01%.

Symbol	Name	Volatility 1Y	AUM	Inception
RWMIX	Redwood Managed Municipal Income Fund	2.01%	—	Mar 2017	NHMAX vs RWMIX
SDHIX	Lord Abbett Short Duration High Income Municipal B...	2.06%	—	Jun 2015	NHMAX vs SDHIX
NVHIX	Nuveen Short Duration High Yield Municipal Bond Fu...	2.24%	—	Jan 2013	NHMAX vs NVHIX
ISHYX	Invesco Short Duration High Yield Municipal Fund	2.29%	—	Sep 2015	NHMAX vs ISHYX
TMNIX	Counterpoint Tactical Municipal Fund	2.55%	—	Jun 2018	NHMAX vs TMNIX

Lowest Drawdown Alternatives to NHMAX

NHMAX has a 1-year max drawdown of -3.58%. There are 44 mutual funds in the High Yield Muni category with shallower 1-year drawdowns, going as shallow as -1.80%.

Symbol	Name	Max Drawdown 1Y	AUM	Inception
NVHIX	Nuveen Short Duration High Yield Municipal Bond Fu...	-1.80%	—	Jan 2013	NHMAX vs NVHIX
ISHYX	Invesco Short Duration High Yield Municipal Fund	-1.89%	—	Sep 2015	NHMAX vs ISHYX
AHYMX	abrdn Short Duration High Yield Municipal Fund	-1.98%	—	May 2013	NHMAX vs AHYMX
SDHIX	Lord Abbett Short Duration High Income Municipal B...	-2.08%	—	Jun 2015	NHMAX vs SDHIX
TMNIX	Counterpoint Tactical Municipal Fund	-2.26%	—	Jun 2018	NHMAX vs TMNIX

Other Mutual Funds from Nuveen

The 10 most viewed Nuveen mutual funds shown here include TIEIX, QQQX, SPXX and span 13 categories.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
TIEIX	Nuveen Equity Index Fund Class I	Large Cap Blend Equities	64	10.43%	—	Jul 1999	NHMAX vs TIEIX
QQQX	Nuveen Nasdaq 100 Dynamic Overwrite Fund	Derivative Income, Options Trading, Nasdaq-100, Large Cap Growth Equities, Actively Managed	62	9.72%	—	Jan 2007	NHMAX vs QQQX
SPXX	Nuveen S&P 500 Dynamic Overwrite Fund	S&P 500	20	4.54%	—	Nov 2005	NHMAX vs SPXX
JQC	Nuveen Credit Strategies Income Fund	Bank Loan	4	1.56%	—	Jun 2003	NHMAX vs JQC
NSBRX	Nuveen Dividend Growth Fund	Large Cap Blend Equities	16	2.04%	—	Mar 2006	NHMAX vs NSBRX
NPSRX	Nuveen Preferred Securities & Income Fund	Preferred Stock/Convertible Bonds	73	0.60%	—	Dec 2006	NHMAX vs NPSRX
NVLIX	Nuveen Winslow Large-Cap Growth ESG Fund Class I	Large Cap Growth Equities, ESG	14	7.86%	—	May 2009	NHMAX vs NVLIX
FASEX	Nuveen Mid Cap Value Fund	Mid Cap Value Equities	81	19.73%	—	Dec 1987	NHMAX vs FASEX
NELIX	Nuveen Equity Long/Short Fund	Long-Short	58	8.44%	—	Dec 2008	NHMAX vs NELIX
NRK	Nuveen New York AMT Free Quality Municipal Income	Municipal Bonds	66	9.28%	—	Nov 2002	NHMAX vs NRK

Often Compared With NHMAX

Investors most often compare NHMAX with HIMYX, AMHIX, RFM. These 20 comparison targets span 2 categories, based on PortfoliosLab usage data.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
HIMYX	Pioneer High Income Municipal Fund	High Yield Muni	8	1.51%	—	Oct 2006	NHMAX vs HIMYX
AMHIX	American High-Income Municipal Bond Fund	High Yield Muni	78	2.43%	—	Sep 1994	NHMAX vs AMHIX
RFM	RiverNorth Flexible Municipal Income Fund	High Yield Muni	32	8.40%	—	—	NHMAX vs RFM
ETHYX	Eaton Vance High Yield Municipal Income Fund	High Yield Muni	78	3.30%	—	Aug 1995	NHMAX vs ETHYX
RMUNX	Invesco Rochester New York Municipals Fund	Municipal Bonds	39	1.92%	—	May 1986	NHMAX vs RMUNX
SHYTX	DWS Strategic High Yield Tax	High Yield Muni	65	2.18%	—	Jan 1987	NHMAX vs SHYTX
RTHAX	Russell Investments Tax-Exempt High Yield Bond Fun...	High Yield Muni	68	2.98%	—	May 2015	NHMAX vs RTHAX
GWMEX	AMG GW&K Municipal Enhanced Yield Fund	High Yield Muni	60	2.65%	—	Dec 2005	NHMAX vs GWMEX
NMHIX	Neuberger Berman Municipal High Income Fund	High Yield Muni	—	—	—	Jun 2015	NHMAX vs NMHIX
CXHYX	Delaware National High-Yield Municipal Bond Fund	High Yield Muni	28	2.29%	—	Sep 1986	NHMAX vs CXHYX
DHMBX	BNY Mellon High Yield Municipal Bond Fund	High Yield Muni	68	3.32%	—	Sep 2005	NHMAX vs DHMBX
NSIOX	Nuveen Strategic Municipal Opportunities Fund	High Yield Muni	55	1.73%	—	Dec 2014	NHMAX vs NSIOX
STMYX	Sierra Tactical Municipal Fund	High Yield Muni	61	2.16%	—	Dec 2018	NHMAX vs STMYX
ABHYX	American Century High-Yield Municipal Fund	High Yield Muni	68	2.50%	572.53M	Mar 1998	NHMAX vs ABHYX
THYIX	Transamerica High Yield Muni	High Yield Muni	67	2.56%	—	Jul 2013	NHMAX vs THYIX
GHYIX	Goldman Sachs High Yield Municipal Fund Institutio...	High Yield Muni	60	2.73%	—	Apr 2000	NHMAX vs GHYIX
MMHYX	MFS Municipal High Income Fund	High Yield Muni	76	2.93%	—	Feb 1984	NHMAX vs MMHYX
FRHIX	Franklin High Yield Tax Free Income Fund	High Yield Muni	76	3.04%	—	Mar 1986	NHMAX vs FRHIX
AHMFX	American High-Income Municipal Bond Fund Class F-2	High Yield Muni	80	2.52%	—	Aug 2008	NHMAX vs AHMFX
FVCAX	Franklin California High Yield Municipal Fund Advi...	High Yield Muni	75	2.47%	—	May 1993	NHMAX vs FVCAX

Compare NHMAX with Any Fund or Stock

Compare NHMAX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

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Diversifiers

Pair NHMAX with funds that move differently

Nuveen High Yield Municipal Bond Fund Class A alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to NHMAX.

Explore NHMAX Diversifiers

Nuveen High Yield Municipal Bond Fund Class A (NHMAX) Alternatives