Nuveen Municipal Income Fund, Inc. (NMI) 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 NMI. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to NMI
NMI charges 0.72% annually. There are 315 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 | NMI vs LSMSX | |
| Vanguard Tax-Managed Balanced Fund Admiral Shares | 0.05% | 12.30B | Sep 1994 | NMI vs VTMFX | |
| Federated Hermes Conservative Municipal Microshort... | 0.05% | — | Feb 2021 | NMI vs FHMIX | |
| Nuveen Municipal Total Return Managed Accounts | 0.05% | — | May 2007 | NMI vs NMTRX | |
| Strategic Advisers Municipal Bond Fund | 0.06% | — | Jun 2021 | NMI vs FSMUX |
Best Risk-Adjusted Alternatives to NMI
NMI has a PortfoliosLab risk / return rank of 17. There are 470 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 | NMI vs DFABX | |
| DFA Short Term Municipal Bond Portfolio | 100 | — | Aug 2002 | NMI vs DFSMX | |
| abrdn Ultra Short Municipal Income Fund | 99 | — | Dec 2002 | NMI vs ATOIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 99 | — | Apr 2016 | NMI vs TFCYX | |
| Federated Hermes Conservative Municipal Microshort... | 99 | — | Feb 2021 | NMI vs FHMIX |
Top Performing NMI Alternatives (YTD)
NMI is at 10.97% YTD. No mutual funds in the Municipal Bonds category have higher YTD returns; the top-performing alternatives shown here go as high as 10.93%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Nuveen New York AMT Free Quality Municipal Income | 10.93% | — | Nov 2002 | NMI vs NRK | |
| BlackRock MuniYield Michigan Quality Fund | 8.42% | — | Oct 1992 | NMI vs MIY | |
| AllianceBernstein National Municipal Income Fund | 7.33% | — | Nov 2001 | NMI vs AFB | |
| BlackRock MuniHoldings California Quality Fund | 7.11% | — | Feb 1998 | NMI vs MUC | |
| Nuveen Virginia Quality Municipal Income Fund | 6.89% | — | Mar 1993 | NMI vs NPV |
Lowest Volatility Alternatives to NMI
NMI has 16.22% 1-year volatility. There are 474 mutual funds in the Municipal Bonds category with lower 1-year volatility, going as low as 0.55%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| DFA Short-Term Selective State Municipal Bond Port... | 0.55% | — | Apr 2022 | NMI vs DFABX | |
| DFA Short Term Municipal Bond Portfolio | 0.56% | — | Aug 2002 | NMI vs DFSMX | |
| DFA California Short Term Municipal Bond Portfolio | 0.57% | — | Apr 2007 | NMI vs DFCMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.58% | — | May 2016 | NMI vs USMSX | |
| JPMorgan Ultra-Short Municipal Fund | 0.59% | — | May 2016 | NMI vs USMTX |
Lowest Drawdown Alternatives to NMI
NMI has a 1-year max drawdown of -10.96%. There are 473 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 | NMI vs BATVX | |
| abrdn Ultra Short Municipal Income Fund | -0.10% | — | Dec 2002 | NMI vs ATOIX | |
| Federated Hermes Conservative Municipal Microshort... | -0.10% | — | Feb 2021 | NMI vs FHMIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | -0.10% | — | Apr 2016 | NMI vs TFCYX | |
| DFA Short Term Municipal Bond Portfolio | -0.11% | — | Aug 2002 | NMI vs DFSMX |
Other Mutual Funds from Nuveen
The 10 most viewed Nuveen mutual funds shown here include TIEIX, QQQX, TILIX and span 11 categories.
Often Compared With NMI
Investors most often compare NMI with KYN, FJMNX, FLAAX. These 20 comparison targets span 4 categories, based on PortfoliosLab usage data.
Compare NMI with Any Fund or Stock
Compare NMI with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair NMI with funds that move differently
Nuveen Municipal Income Fund, Inc. alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to NMI.
Explore NMI Diversifiers