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Nuveen Short Duration High Yield Municipal Bond Fund (NVHIX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jul 11, 2026

The investment seeks to provide high current income exempt from regular federal income taxes; capital appreciation is a secondary objective when consistent with the fund's primary 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. Under normal market conditions, it will generally maintain an investment portfolio with a weighted average effective duration of less than 4.5 years.

Looking to diversify beyond NVHIX? The mutual funds below have the lowest correlation with NVHIX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from NVHIX.

Best Diversifiers for NVHIX

19 mutual funds have low correlation with NVHIX (below 0.3), 0 of which are negatively correlated. The least correlated is Nuveen Global Infrastructure Fund Class A (FGIAX) (Global Equities) with a 1Y correlation of 0.11, roughly unchanged from 0.16 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
FGIAX
Nuveen Global Infrastructure Fund Class A0.110.180.16
69
Global EquitiesNVHIX vs FGIAX
FGIYX
Nuveen Global Infrastructure Fund0.110.180.16
71
Energy EquitiesNVHIX vs FGIYX
NSCRX
Nuveen Small-Cap Value Opportunities Fund0.180.090.10
72
Small Cap Blend EquitiesNVHIX vs NSCRX
NUV
Nuveen Municipal Value Fund Inc.0.210.280.23
53
Municipal BondsNVHIX vs NUV
NSMRX
Nuveen Small/Mid Cap Value Fund0.220.110.11
64
Small Cap Blend EquitiesNVHIX vs NSMRX
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