AHMFX vs. NSIOX
AHMFX (American High-Income Municipal Bond Fund Class F-2) and NSIOX (Nuveen Strategic Municipal Opportunities Fund) are both High Yield Muni funds. Over the past 10 years, AHMFX returned 3.41%/yr vs 2.95%/yr for NSIOX. Their correlation of 0.84 suggests significant overlap in exposure. AHMFX charges 0.42%/yr vs 0.56%/yr for NSIOX.
Performance
AHMFX vs. NSIOX - Performance Comparison
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Returns By Period
In the year-to-date period, AHMFX achieves a 2.52% return, which is significantly higher than NSIOX's 1.73% return. Over the past 10 years, AHMFX has outperformed NSIOX with an annualized return of 3.41%, while NSIOX has yielded a comparatively lower 2.95% annualized return.
AHMFX
- 1D
- 0.06%
- 1M
- 1.85%
- YTD
- 2.52%
- 6M
- 3.03%
- 1Y
- 8.27%
- 3Y*
- 6.37%
- 5Y*
- 1.84%
- 10Y*
- 3.41%
NSIOX
- 1D
- 0.10%
- 1M
- 1.70%
- YTD
- 1.73%
- 6M
- 2.23%
- 1Y
- 6.02%
- 3Y*
- 4.42%
- 5Y*
- 0.52%
- 10Y*
- 2.95%
AHMFX vs. NSIOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AHMFX American High-Income Municipal Bond Fund Class F-2 | 2.52% | 6.03% | 6.45% | 7.04% | -12.44% | 5.49% | 4.61% | 9.12% | 1.80% | 9.09% |
NSIOX Nuveen Strategic Municipal Opportunities Fund | 1.73% | 3.19% | 4.61% | 7.17% | -13.81% | 5.21% | 6.82% | 10.07% | 3.31% | 9.77% |
Correlation
The correlation between AHMFX and NSIOX is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Jan 8, 2015 | 0.84 |
The correlation between AHMFX and NSIOX has been stable across timeframes, ranging from 0.84 to 0.88 - a consistent structural relationship.
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Return for Risk
AHMFX vs. NSIOX — Risk / Return Rank
AHMFX
NSIOX
AHMFX vs. NSIOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American High-Income Municipal Bond Fund Class F-2 (AHMFX) and Nuveen Strategic Municipal Opportunities Fund (NSIOX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AHMFX | NSIOX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.67 | ||
| Sortino ratioReturn per unit of downside risk | +1.24 | ||
| Omega ratioGain probability vs. loss probability | 1.67 | 1.49 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 3.01 | 2.09 | +0.92 |
| Martin ratioReturn relative to average drawdown | 10.77 | 6.18 | +4.59 |
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Drawdowns
AHMFX vs. NSIOX - Drawdown Comparison
The maximum AHMFX drawdown since its inception was -17.65%, roughly equal to the maximum NSIOX drawdown of -18.38%. Use the drawdown chart below to compare losses from any high point for AHMFX and NSIOX.
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Drawdown Indicators
| AHMFX | NSIOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.65% | -18.38% | +0.73% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -2.91% | +0.15% |
Max Drawdown (3Y)Largest decline over 3 years | -6.20% | -6.17% | -0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -17.65% | -18.38% | +0.73% |
Max Drawdown (10Y)Largest decline over 10 years | -17.65% | -18.38% | +0.73% |
Current DrawdownCurrent decline from peak | 0.00% | -0.36% | +0.36% |
Average DrawdownAverage peak-to-trough decline | -2.36% | -3.56% | +1.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 0.98% | -0.21% |
Volatility
AHMFX vs. NSIOX - Volatility Comparison
American High-Income Municipal Bond Fund Class F-2 (AHMFX) and Nuveen Strategic Municipal Opportunities Fund (NSIOX) have volatilities of 0.76% and 0.77%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AHMFX | NSIOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.76% | 0.77% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 2.21% | 2.12% | +0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.03% | 2.93% | +0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.86% | 4.49% | +0.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.54% | 4.69% | -0.15% |
AHMFX vs. NSIOX - Expense Ratio Comparison
AHMFX has a 0.42% expense ratio, which is lower than NSIOX's 0.56% expense ratio.
Dividends
AHMFX vs. NSIOX - Dividend Comparison
AHMFX's dividend yield for the trailing twelve months is around 4.11%, less than NSIOX's 4.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AHMFX American High-Income Municipal Bond Fund Class F-2 | 4.11% | 5.58% | 4.04% | 2.97% | 2.71% | 3.44% | 3.60% | 3.68% | 3.88% | 4.19% | 3.74% | 4.19% |
NSIOX Nuveen Strategic Municipal Opportunities Fund | 4.18% | 4.53% | 3.91% | 3.85% | 4.20% | 4.25% | 2.88% | 3.25% | 3.12% | 3.22% | 4.09% | 2.48% |
Frequently Asked Questions
AHMFX and NSIOX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NSIOX has higher volatility (0.77%) compared to AHMFX (0.76%). In terms of maximum drawdown, AHMFX dropped -17.65% vs NSIOX's -18.38%.
AHMFX currently has the higher Sharpe Ratio (2.74 vs 2.08), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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