NMT Alternatives & Similar Mutual Funds

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

Cheapest Alternatives to NMT

NMT charges 0.04% annually. There are 13 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	NMT vs MMU
LSMSX	Western Asset SMASh Series TF Fund	0.01%	—	Dec 2015	NMT vs LSMSX
EIM	Eaton Vance Municipal Bond Fund	0.01%	—	Dec 1993	NMT vs EIM
MMD	NYLI MacKay DefinedTerm Muni Opportunities Fund	0.03%	—	Jun 2012	NMT vs MMD
NIM	Nuveen Select Maturities Municipal Fund	0.03%	—	Sep 1992	NMT vs NIM

Best Risk-Adjusted Alternatives to NMT

NMT has a PortfoliosLab risk / return rank of 44. There are 461 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	NMT vs DFABX
ATOIX	abrdn Ultra Short Municipal Income Fund	99	—	Dec 2002	NMT vs ATOIX
DFCMX	DFA California Short Term Municipal Bond Portfolio	99	—	Apr 2007	NMT vs DFCMX
DNYMX	DFA NY Municipal Bond Portfolio	99	—	Jun 2015	NMT vs DNYMX
DFSMX	DFA Short Term Municipal Bond Portfolio	99	—	Aug 2002	NMT vs DFSMX

Top Performing NMT Alternatives (YTD)

NMT is at 15.87% YTD. No mutual funds in the Municipal Bonds category have higher YTD returns; the top-performing alternatives shown here go as high as 13.22%.

Symbol	Name	YTD Return	AUM	Inception
NMI	Nuveen Municipal Income Fund, Inc.	13.22%	—	Apr 1998	NMT vs NMI
RMI	RiverNorth Opportunistic Municipal Income Fund	11.00%	—	—	NMT vs RMI
RFMZ	RiverNorth Flexible Municipal Income Fund II Inc.	10.29%	—	—	NMT vs RFMZ
NRK	Nuveen New York AMT Free Quality Municipal Income	9.70%	—	Nov 2002	NMT vs NRK
NAZ	Nuveen Arizona Quality Municipal Income Fund	8.20%	—	Nov 1992	NMT vs NAZ

Lowest Volatility Alternatives to NMT

NMT has 9.92% 1-year volatility. There are 485 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	NMT vs DFABX
DFCMX	DFA California Short Term Municipal Bond Portfolio	0.59%	—	Apr 2007	NMT vs DFCMX
USMSX	JPMorgan Ultra-Short Municipal Fund	0.59%	—	May 2016	NMT vs USMSX
USMTX	JPMorgan Ultra-Short Municipal Fund	0.60%	—	May 2016	NMT vs USMTX
DFSMX	DFA Short Term Municipal Bond Portfolio	0.61%	—	Aug 2002	NMT vs DFSMX

Lowest Drawdown Alternatives to NMT

NMT has a 1-year max drawdown of -5.84%. There are 470 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	NMT vs BATVX
ATOIX	abrdn Ultra Short Municipal Income Fund	-0.10%	—	Dec 2002	NMT vs ATOIX
APUSX	Cavanal Hill Ultra Short Tax-Free Income Fund	-0.10%	—	Dec 2017	NMT vs APUSX
TFCYX	SEI Institutional Managed Trust Tax-Free Conservat...	-0.10%	—	Apr 2016	NMT vs TFCYX
FHMIX	Federated Hermes Conservative Municipal Microshort...	-0.10%	—	Feb 2021	NMT vs FHMIX

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	NMT 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	NMT vs QQQX
SPXX	Nuveen S&P 500 Dynamic Overwrite Fund	S&P 500	15	3.44%	—	Nov 2005	NMT vs SPXX
NHMRX	Nuveen High Yield Municipal Bond Fund	High Yield Muni	61	3.32%	—	Jun 1999	NMT vs NHMRX
JQC	Nuveen Credit Strategies Income Fund	Bank Loan	5	2.20%	—	Jun 2003	NMT vs JQC
NSBRX	Nuveen Dividend Growth Fund	Large Cap Blend Equities	15	1.69%	—	Mar 2006	NMT vs NSBRX
JPC	Nuveen Preferred and Income Opportunities Fund	Preferred Stock/Convertible Bonds	9	0.03%	—	Mar 2003	NMT vs JPC
NPSRX	Nuveen Preferred Securities & Income Fund	Preferred Stock/Convertible Bonds	74	0.60%	—	Dec 2006	NMT vs NPSRX
NVHIX	Nuveen Short Duration High Yield Municipal Bond Fu...	High Yield Muni	65	2.04%	—	Jan 2013	NMT vs NVHIX
NVLIX	Nuveen Winslow Large-Cap Growth ESG Fund Class I	Large Cap Growth Equities, ESG	14	6.96%	—	May 2009	NMT vs NVLIX

Often Compared With NMT

Investors most often compare NMT with NCA, NAC, BSNIX. These 16 comparison targets span 3 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	NMT vs NCA
NAC	Nuveen California Quality Municipal Income Fund	Municipal Bonds	76	5.41%	—	Dec 1998	NMT vs NAC
BSNIX	Baird Strategic Municipal Bond Fund Institutional ...	Municipal Bonds	79	1.36%	—	—	NMT vs BSNIX
MHF	Western Asset Municipal High Income Fund Inc	Municipal Bonds	6	2.56%	—	Nov 1988	NMT vs MHF
RMMZ	RiverNorth Managed Duration Municipal Income Fund ...	Municipal Bonds	37	6.31%	—	—	NMT vs RMMZ
NMS	Nuveen Minnesota Quality Municipal Income Fund	Municipal Bonds	55	5.79%	—	Jun 1993	NMT vs NMS
PML	PIMCO Municipal Income Fund II	Municipal Bonds	11	2.74%	—	Jun 2002	NMT vs PML
NUW	Nuveen AMT-Free Municipal Value Fund	Municipal Bonds	22	1.55%	—	Feb 2009	NMT vs NUW
PCQ	PIMCO California Municipal Income Fund	Municipal Bonds	19	3.99%	—	Jun 2001	NMT vs PCQ
NNY	Nuveen New York Municipal Value Fund	Municipal Bonds	31	4.66%	—	Oct 1987	NMT vs NNY
NAN	Nuveen New York Quality Municipal Income Fund	Municipal Bonds	30	6.84%	—	May 1999	NMT vs NAN
NPV	Nuveen Virginia Quality Municipal Income Fund	Municipal Bonds	26	6.33%	—	Mar 1993	NMT vs NPV
NELIX	Nuveen Equity Long/Short Fund	Long-Short	60	8.59%	—	Dec 2008	NMT vs NELIX
FASEX	Nuveen Mid Cap Value Fund	Mid Cap Value Equities	82	20.50%	—	Dec 1987	NMT vs FASEX
NKX	Nuveen California AMT-Free Quality Municipal Incom...	Municipal Bonds	38	3.30%	—	Jul 2002	NMT vs NKX
PRMDX	T. Rowe Price Maryland Short-Term Tax-Free Bond Fu...	Municipal Bonds	75	0.85%	—	Jan 1993	NMT vs PRMDX

Compare NMT with Any Fund or Stock

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

Symbol name

Diversifiers

Pair NMT with funds that move differently

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

Explore NMT Diversifiers

Nuveen Massachusetts Quality Municipal Income Fund (NMT) Alternatives