AHYMX vs. NSIOX
AHYMX (abrdn Short Duration High Yield Municipal Fund) and NSIOX (Nuveen Strategic Municipal Opportunities Fund) are both High Yield Muni funds. Over the past 10 years, AHYMX returned 1.52%/yr vs 2.88%/yr for NSIOX. A 0.67 correlation means they provide meaningful diversification when combined. AHYMX charges 0.68%/yr vs 0.56%/yr for NSIOX.
Performance
AHYMX vs. NSIOX - Performance Comparison
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Returns By Period
In the year-to-date period, AHYMX achieves a 1.18% return, which is significantly lower than NSIOX's 1.63% return. Over the past 10 years, AHYMX has underperformed NSIOX with an annualized return of 1.52%, while NSIOX has yielded a comparatively higher 2.88% annualized return.
AHYMX
- 1D
- 0.00%
- 1M
- 1.23%
- YTD
- 1.18%
- 6M
- 1.87%
- 1Y
- 4.90%
- 3Y*
- 2.82%
- 5Y*
- 0.13%
- 10Y*
- 1.52%
NSIOX
- 1D
- -0.10%
- 1M
- 1.60%
- YTD
- 1.63%
- 6M
- 2.13%
- 1Y
- 5.81%
- 3Y*
- 4.35%
- 5Y*
- 0.50%
- 10Y*
- 2.88%
AHYMX vs. NSIOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AHYMX abrdn Short Duration High Yield Municipal Fund | 1.18% | 2.91% | 4.07% | 1.56% | -9.36% | 4.06% | 1.81% | 5.23% | 1.50% | 4.19% |
NSIOX Nuveen Strategic Municipal Opportunities Fund | 1.63% | 3.19% | 4.61% | 7.17% | -13.81% | 5.21% | 6.82% | 10.07% | 3.31% | 9.77% |
Correlation
The correlation between AHYMX and NSIOX is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Jan 8, 2015 | 0.67 |
The correlation between AHYMX and NSIOX has been stable across timeframes, ranging from 0.67 to 0.76 - a consistent structural relationship.
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Return for Risk
AHYMX vs. NSIOX — Risk / Return Rank
AHYMX
NSIOX
AHYMX vs. NSIOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for abrdn Short Duration High Yield Municipal Fund (AHYMX) 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.
| AHYMX | NSIOX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.48 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.48 | 2.05 | +0.43 |
| Martin ratioReturn relative to average drawdown | 8.83 | 6.06 | +2.77 |
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Drawdowns
AHYMX vs. NSIOX - Drawdown Comparison
The maximum AHYMX drawdown since its inception was -11.53%, smaller than the maximum NSIOX drawdown of -18.38%. Use the drawdown chart below to compare losses from any high point for AHYMX and NSIOX.
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Drawdown Indicators
| AHYMX | NSIOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.53% | -18.38% | +6.85% |
Max Drawdown (1Y)Largest decline over 1 year | -1.98% | -2.91% | +0.93% |
Max Drawdown (3Y)Largest decline over 3 years | -4.53% | -6.17% | +1.64% |
Max Drawdown (5Y)Largest decline over 5 years | -11.53% | -18.38% | +6.85% |
Max Drawdown (10Y)Largest decline over 10 years | -11.53% | -18.38% | +6.85% |
Current DrawdownCurrent decline from peak | -0.42% | -0.46% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -2.48% | -3.56% | +1.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | 0.98% | -0.42% |
Volatility
AHYMX vs. NSIOX - Volatility Comparison
abrdn Short Duration High Yield Municipal Fund (AHYMX) has a higher volatility of 0.90% compared to Nuveen Strategic Municipal Opportunities Fund (NSIOX) at 0.78%. This indicates that AHYMX's price experiences larger fluctuations and is considered to be riskier than NSIOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AHYMX | NSIOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.90% | 0.78% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 1.94% | 2.12% | -0.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.65% | 2.93% | -0.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.93% | 4.50% | -1.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.61% | 4.69% | -2.08% |
AHYMX vs. NSIOX - Expense Ratio Comparison
AHYMX has a 0.68% expense ratio, which is higher than NSIOX's 0.56% expense ratio.
Dividends
AHYMX vs. NSIOX - Dividend Comparison
AHYMX's dividend yield for the trailing twelve months is around 4.56%, more than NSIOX's 4.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AHYMX abrdn Short Duration High Yield Municipal Fund | 4.56% | 4.52% | 3.32% | 2.21% | 2.05% | 2.31% | 2.74% | 3.10% | 3.39% | 2.82% | 3.28% | 3.43% |
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
AHYMX and NSIOX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AHYMX has higher volatility (0.90%) compared to NSIOX (0.78%). In terms of maximum drawdown, AHYMX dropped -11.53% vs NSIOX's -18.38%.
NSIOX currently has the higher Sharpe Ratio (2.04 vs 1.86), 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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