NMS Alternatives & Similar Mutual Funds

Nuveen Minnesota Quality Municipal Income Fund (NMS) 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 NMS. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to NMS

NMS charges 0.03% annually. There are 5 mutual funds in the Municipal Bonds category with lower expense ratios, going as low as 0.01%.

Symbol	Name	Expense Ratio	AUM	Inception
MMU	Western Asset Managed Municipals Fund Inc	0.01%	—	Jun 1992	NMS vs MMU
LSMSX	Western Asset SMASh Series TF Fund	0.01%	—	Dec 2015	NMS vs LSMSX
EIM	Eaton Vance Municipal Bond Fund	0.01%	—	Dec 1993	NMS vs EIM
MMD	NYLI MacKay DefinedTerm Muni Opportunities Fund	0.03%	—	Jun 2012	NMS vs MMD
NIM	Nuveen Select Maturities Municipal Fund	0.03%	—	Sep 1992	NMS vs NIM

Best Risk-Adjusted Alternatives to NMS

NMS has a PortfoliosLab risk / return rank of 55. There are 443 mutual funds in the Municipal Bonds category with higher risk-adjusted ranks, going as high as 100.

Symbol	Name	Risk / Return Rank	AUM	Inception
DFABX	DFA Short-Term Selective State Municipal Bond Port...	100	—	Apr 2022	NMS vs DFABX
ATOIX	abrdn Ultra Short Municipal Income Fund	99	—	Dec 2002	NMS vs ATOIX
DFCMX	DFA California Short Term Municipal Bond Portfolio	99	—	Apr 2007	NMS vs DFCMX
DNYMX	DFA NY Municipal Bond Portfolio	99	—	Jun 2015	NMS vs DNYMX
DFSMX	DFA Short Term Municipal Bond Portfolio	99	—	Aug 2002	NMS vs DFSMX

Top Performing NMS Alternatives (YTD)

NMS is at 5.79% YTD. There are 12 mutual funds in the Municipal Bonds category with higher YTD returns, going as high as 15.87%.

Symbol	Name	YTD Return	AUM	Inception
NMT	Nuveen Massachusetts Quality Municipal Income Fund	15.87%	—	Jan 1993	NMS vs NMT
NMI	Nuveen Municipal Income Fund, Inc.	13.22%	—	Apr 1998	NMS vs NMI
RMI	RiverNorth Opportunistic Municipal Income Fund	11.00%	—	—	NMS vs RMI
RFMZ	RiverNorth Flexible Municipal Income Fund II Inc.	10.29%	—	—	NMS vs RFMZ
NRK	Nuveen New York AMT Free Quality Municipal Income	9.70%	—	Nov 2002	NMS vs NRK

Lowest Volatility Alternatives to NMS

NMS has 8.46% 1-year volatility. There are 472 mutual funds in the Municipal Bonds category with lower 1-year volatility, going as low as 0.56%.

Symbol	Name	Volatility 1Y	AUM	Inception
DFABX	DFA Short-Term Selective State Municipal Bond Port...	0.56%	—	Apr 2022	NMS vs DFABX
DFCMX	DFA California Short Term Municipal Bond Portfolio	0.59%	—	Apr 2007	NMS vs DFCMX
USMSX	JPMorgan Ultra-Short Municipal Fund	0.59%	—	May 2016	NMS vs USMSX
USMTX	JPMorgan Ultra-Short Municipal Fund	0.60%	—	May 2016	NMS vs USMTX
DFSMX	DFA Short Term Municipal Bond Portfolio	0.61%	—	Aug 2002	NMS vs DFSMX

Lowest Drawdown Alternatives to NMS

NMS has a 1-year max drawdown of -2.84%. There are 270 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
BATVX	BlackRock Allocation Target Shares	0.00%	—	May 2021	NMS vs BATVX
TFCYX	SEI Institutional Managed Trust Tax-Free Conservat...	-0.10%	—	Apr 2016	NMS vs TFCYX
FHMIX	Federated Hermes Conservative Municipal Microshort...	-0.10%	—	Feb 2021	NMS vs FHMIX
ATOIX	abrdn Ultra Short Municipal Income Fund	-0.10%	—	Dec 2002	NMS vs ATOIX
APUSX	Cavanal Hill Ultra Short Tax-Free Income Fund	-0.10%	—	Dec 2017	NMS vs APUSX

Other Mutual Funds from Nuveen

The 10 most viewed Nuveen mutual funds shown here include TIEIX, QQQX, SPXX and span 11 categories.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
TIEIX	Nuveen Equity Index Fund Class I	Large Cap Blend Equities	63	10.07%	—	Jul 1999	NMS vs TIEIX
QQQX	Nuveen Nasdaq 100 Dynamic Overwrite Fund	Derivative Income, Options Trading, Nasdaq-100, Large Cap Growth Equities, Actively Managed	50	7.43%	—	Jan 2007	NMS vs QQQX
SPXX	Nuveen S&P 500 Dynamic Overwrite Fund	S&P 500	15	3.44%	—	Nov 2005	NMS vs SPXX
NHMRX	Nuveen High Yield Municipal Bond Fund	High Yield Muni	61	3.32%	—	Jun 1999	NMS vs NHMRX
JQC	Nuveen Credit Strategies Income Fund	Bank Loan	5	2.20%	—	Jun 2003	NMS vs JQC
NSBRX	Nuveen Dividend Growth Fund	Large Cap Blend Equities	15	1.69%	—	Mar 2006	NMS vs NSBRX
JPC	Nuveen Preferred and Income Opportunities Fund	Preferred Stock/Convertible Bonds	9	0.03%	—	Mar 2003	NMS vs JPC
NPSRX	Nuveen Preferred Securities & Income Fund	Preferred Stock/Convertible Bonds	74	0.60%	—	Dec 2006	NMS vs NPSRX
NVHIX	Nuveen Short Duration High Yield Municipal Bond Fu...	High Yield Muni	65	2.04%	—	Jan 2013	NMS vs NVHIX
NVLIX	Nuveen Winslow Large-Cap Growth ESG Fund Class I	Large Cap Growth Equities, ESG	14	6.96%	—	May 2009	NMS vs NVLIX

Often Compared With NMS

Investors most often compare NMS with NCA, NAZ, BSNIX. These 17 comparison targets span 4 categories, based on PortfoliosLab usage data.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
NCA	Nuveen California Municipal Value Fund	Municipal Bonds	23	5.79%	—	Oct 1987	NMS vs NCA
NAZ	Nuveen Arizona Quality Municipal Income Fund	Municipal Bonds	33	8.20%	—	Nov 1992	NMS vs NAZ
BSNIX	Baird Strategic Municipal Bond Fund Institutional ...	Municipal Bonds	79	1.36%	—	—	NMS vs BSNIX
NAC	Nuveen California Quality Municipal Income Fund	Municipal Bonds	76	5.41%	—	Dec 1998	NMS vs NAC
MHF	Western Asset Municipal High Income Fund Inc	Municipal Bonds	6	2.56%	—	Nov 1988	NMS vs MHF
NNY	Nuveen New York Municipal Value Fund	Municipal Bonds	31	4.66%	—	Oct 1987	NMS vs NNY
PCQ	PIMCO California Municipal Income Fund	Municipal Bonds	19	3.99%	—	Jun 2001	NMS vs PCQ
RMMZ	RiverNorth Managed Duration Municipal Income Fund ...	Municipal Bonds	37	6.31%	—	—	NMS vs RMMZ
NAN	Nuveen New York Quality Municipal Income Fund	Municipal Bonds	30	6.84%	—	May 1999	NMS vs NAN
NKX	Nuveen California AMT-Free Quality Municipal Incom...	Municipal Bonds	38	3.30%	—	Jul 2002	NMS vs NKX
FARCX	Nuveen Real Estate Securities Fund	REIT	27	14.50%	—	Jun 1995	NMS vs FARCX
NPV	Nuveen Virginia Quality Municipal Income Fund	Municipal Bonds	26	6.33%	—	Mar 1993	NMS vs NPV
NELIX	Nuveen Equity Long/Short Fund	Long-Short	60	8.59%	—	Dec 2008	NMS vs NELIX
FASEX	Nuveen Mid Cap Value Fund	Mid Cap Value Equities	82	20.50%	—	Dec 1987	NMS vs FASEX
PRMDX	T. Rowe Price Maryland Short-Term Tax-Free Bond Fu...	Municipal Bonds	75	0.85%	—	Jan 1993	NMS vs PRMDX
PML	PIMCO Municipal Income Fund II	Municipal Bonds	11	2.74%	—	Jun 2002	NMS vs PML
NUW	Nuveen AMT-Free Municipal Value Fund	Municipal Bonds	22	1.55%	—	Feb 2009	NMS vs NUW

Compare NMS with Any Fund or Stock

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

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Diversifiers

Pair NMS with funds that move differently

Nuveen Minnesota Quality Municipal Income Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to NMS.

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Nuveen Minnesota Quality Municipal Income Fund (NMS) Alternatives