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Nuveen High Yield Municipal Bond Fund (NHMRX) Sharpe Ratio: 2.15

Mutual Fund · Currency in USD · Last updated Jun 23, 2026

The investment seeks high current income exempt from regular federal income taxes; capital appreciation is a secondary objective. Under normal market conditions, the fund invests at least 80% of the sum of its net assets and the amount of any borrowings for investment purposes in municipal bonds that pay interest that is exempt from regular federal personal income tax. It invests significantly in lower-quality long-term municipal bonds and may employ effective leverage through investments in inverse floaters.

NHMRX's Sharpe Ratio of 2.15 indicates that for each unit of volatility, it generates 2.15 units of excess return above the risk-free rate. The ratio is calculated using historical daily returns over the past 12 months (as of Jun 23, 2026).

Sharpe uses total volatility (standard deviation) which includes both upside and downside price movements, making it useful for comparing risk-adjusted returns across different assets. For how to read this number and when it can mislead, see Sharpe Ratio Explained.

NHMRX Sharpe Ratio Rank

NHMRX Sharpe Ratio Rank: 63.664
Above Average

NHMRX ranks above 63.6% of all investments in our database based on Sharpe Ratio over the past 12 months, indicating above-average returns relative to volatility. Securities are ranked from 0 (worst) to 100 (best).

What moves the rank

  • Strong returns with low total volatility → Higher rank
  • High volatility (both upside and downside) → Lower rank
  • Consistent returns → Higher rank than volatile returns of same magnitude
  • Sharp drawdowns increase volatility → Lower rank

What you can do with this information

  • Above-average risk-adjusted returns with room for improvement
  • Compare against category peers to gauge relative positioning
  • Monitor for movement toward top tier or decline toward median
  • Consider pairing with top-tier holdings to improve portfolio efficiency

NHMRX Sharpe Ratio Market Positioning

The chart shows NHMRX's Sharpe Ratio relative to all mutual funds on our platform, with color zones indicating percentile rankings. Higher ratios indicate better risk-adjusted returns.

  • Red zone (bottom 25%): 1.33 or lower
  • Yellow zone (middle 50%): 1.33 to 2.32
  • Green zone (top 25%): 2.32 or higher
  • Top 1%: 4.29+
  • Median: 1.93 — half of all investments score higher

How it compares to other similar mutual funds

The table compares Nuveen High Yield Municipal Bond Fund's Sharpe Ratio with other mutual funds in the High Yield Muni category across multiple time periods, showing how NHMRX's risk-adjusted performance compares to similar funds.

Data shows 1-, 5-, and 10-year periods, plus each fund's all-time average, as of Jun 23, 2026.

SymbolName1Y Sharpe Ratio5Y Sharpe Ratio10Y Sharpe RatioAll Time Sharpe Ratio
PRFHXT. Rowe Price Tax Free High Yield Fund3.40
ISHYXInvesco Short Duration High Yield Municipal Fund3.00
FHTFXFederated Hermes Municipal High Yield Advtg Fd2.96
SDHIXLord Abbett Short Duration High Income Municipal Bond Fund2.79
HIMFXAmerican High-Income Municipal Bond Fund Class F-32.77
AHMFXAmerican High-Income Municipal Bond Fund Class F-22.74
AMHIXAmerican High-Income Municipal Bond Fund2.68
EWHYXEaton Vance High Yield Municipal Income Fund Class W2.67
VWALXVanguard High-Yield Tax-Exempt Fund Admiral Shares2.65
VWAHXVanguard High-Yield Tax-Exempt Fund Investor Shares2.63
NHMRXNuveen High Yield Municipal Bond Fund2.15

S&P 500 Index

How to choose period

Historical Sharpe Ratio

The chart shows NHMRX's rolling Sharpe ratio over time compared to your chosen benchmark. Rising trends indicate improving returns relative to total volatility, while declining trends may signal deteriorating risk-adjusted performance or increased volatility. Use multiple timeframes to distinguish short-term fluctuations from long-term patterns.

Identify market cycles by observing when NHMRX consistently outperforms (line above benchmark), underperforms (below benchmark), or aligns with the benchmark.

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