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 317 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 18. There are 472 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 | |
| abrdn Ultra Short Municipal Income Fund | 99 | — | Dec 2002 | NMI vs ATOIX | |
| DFA California Short Term Municipal Bond Portfolio | 99 | — | Apr 2007 | NMI vs DFCMX | |
| DFA NY Municipal Bond Portfolio | 99 | — | Jun 2015 | NMI vs DNYMX | |
| DFA Short Term Municipal Bond Portfolio | 99 | — | Aug 2002 | NMI vs DFSMX |
Top Performing NMI Alternatives (YTD)
NMI is at 13.22% YTD. No mutual funds in the Municipal Bonds category have higher YTD returns; the top-performing alternatives shown here go as high as 9.70%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Nuveen New York AMT Free Quality Municipal Income | 9.70% | — | Nov 2002 | NMI vs NRK | |
| AllianceBernstein National Municipal Income Fund | 7.62% | — | Nov 2001 | NMI vs AFB | |
| BlackRock MuniYield Michigan Quality Fund | 6.57% | — | Oct 1992 | NMI vs MIY | |
| Nuveen Virginia Quality Municipal Income Fund | 6.33% | — | Mar 1993 | NMI vs NPV | |
| BlackRock MuniHoldings California Quality Fund | 5.84% | — | Feb 1998 | NMI vs MUC |
Lowest Volatility Alternatives to NMI
NMI has 17.26% 1-year volatility. There are 479 mutual funds in the Municipal Bonds category with lower 1-year volatility, going as low as 0.56%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| DFA Short-Term Selective State Municipal Bond Port... | 0.56% | — | Apr 2022 | NMI vs DFABX | |
| DFA California Short Term Municipal Bond Portfolio | 0.59% | — | Apr 2007 | NMI vs DFCMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.59% | — | May 2016 | NMI vs USMSX | |
| JPMorgan Ultra-Short Municipal Fund | 0.60% | — | May 2016 | NMI vs USMTX | |
| DFA Short Term Municipal Bond Portfolio | 0.61% | — | Aug 2002 | NMI vs DFSMX |
Lowest Drawdown Alternatives to NMI
NMI has a 1-year max drawdown of -10.96%. There are 478 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 | |
| SEI Institutional Managed Trust Tax-Free Conservat... | -0.10% | — | Apr 2016 | NMI vs TFCYX | |
| Federated Hermes Conservative Municipal Microshort... | -0.10% | — | Feb 2021 | NMI vs FHMIX | |
| abrdn Ultra Short Municipal Income Fund | -0.10% | — | Dec 2002 | NMI vs ATOIX | |
| Cavanal Hill Ultra Short Tax-Free Income Fund | -0.10% | — | Dec 2017 | NMI vs APUSX |
Other Mutual Funds from Nuveen
The 10 most viewed Nuveen mutual funds shown here include TIEIX, QQQX, SPXX and span 12 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Nuveen Equity Index Fund Class I | Large Cap Blend Equities | 63 | 10.07% | — | Jul 1999 | NMI vs TIEIX | |
| Nuveen Nasdaq 100 Dynamic Overwrite Fund | Derivative Income, Options Trading, Nasdaq-100, Large Cap Growth Equities, Actively Managed | 50 | 7.43% | — | Jan 2007 | NMI vs QQQX | |
| Nuveen S&P 500 Dynamic Overwrite Fund | S&P 500 | 15 | 3.44% | — | Nov 2005 | NMI vs SPXX | |
| Nuveen High Yield Municipal Bond Fund | High Yield Muni | 61 | 3.32% | — | Jun 1999 | NMI vs NHMRX | |
| Nuveen Credit Strategies Income Fund | Bank Loan | 5 | 2.20% | — | Jun 2003 | NMI vs JQC | |
| Nuveen Dividend Growth Fund | Large Cap Blend Equities | 15 | 1.69% | — | Mar 2006 | NMI vs NSBRX | |
| Nuveen Preferred Securities & Income Fund | Preferred Stock/Convertible Bonds | 74 | 0.60% | — | Dec 2006 | NMI vs NPSRX | |
| Nuveen Short Duration High Yield Municipal Bond Fu... | High Yield Muni | 65 | 2.04% | — | Jan 2013 | NMI vs NVHIX | |
| Nuveen Winslow Large-Cap Growth ESG Fund Class I | Large Cap Growth Equities, ESG | 14 | 6.96% | — | May 2009 | NMI vs NVLIX | |
| Nuveen Mid Cap Value Fund | Mid Cap Value Equities | 82 | 20.50% | — | Dec 1987 | NMI vs FASEX |
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