APAM vs. NMAI
APAM (Artisan Partners Asset Management Inc.) is a stock, while NMAI (Nuveen Multi-Asset Income Fund) is Global Allocation fund actively managed by Nuveen. Over the past 3 years, APAM returned 11.85%/yr vs 19.60%/yr for NMAI. Their 0.51 correlation means they have sometimes moved together and sometimes differently.
Performance
APAM vs. NMAI - Performance Comparison
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Returns By Period
In the year-to-date period, APAM achieves a 9.49% return, which is significantly lower than NMAI's 15.72% return.
APAM
- 1D
- 7.31%
- 1M
- 18.92%
- 6M
- -1.81%
- YTD
- 9.49%
- 1Y
- 3.11%
- 3Y*
- 11.85%
- 5Y*
- 5.49%
- 10Y*
- 13.88%
- ALL TIME*
- 10.35%
NMAI
- 1D
- 1.64%
- 1M
- 2.70%
- 6M
- 10.16%
- YTD
- 15.72%
- 1Y
- 28.19%
- 3Y*
- 19.60%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.70%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $38.72M | $36.30M | $31.19M | |
| $1.01M | $1.25M | $1.57M |
APAM vs. NMAI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
APAM Artisan Partners Asset Management Inc. | 9.49% | 2.72% | 4.85% | 60.26% | -31.31% | -2.91% |
NMAI Nuveen Multi-Asset Income Fund | 15.72% | 20.03% | 11.65% | 19.52% | -26.38% | -4.91% |
Correlation
The correlation between APAM and NMAI is 0.39, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.39 |
Correlation (3Y) Balances recent behavior with more history. | 0.44 |
Correlation (All Time) Calculated using the full available price history since Nov 22, 2021 | 0.51 |
The correlation between APAM and NMAI shifts across timeframes, from 0.39 (1 year) to 0.51 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
APAM vs. NMAI — Risk / Return Rank
APAM
NMAI
APAM vs. NMAI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Artisan Partners Asset Management Inc. (APAM) and Nuveen Multi-Asset Income Fund (NMAI). 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.
| APAM | NMAI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.94 | ||
| Sortino ratioReturn per unit of downside risk | -2.39 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.37 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | 0.14 | 2.38 | -2.25 |
| Martin ratioReturn relative to average drawdown | 0.25 | 9.77 | -9.52 |
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Drawdowns
APAM vs. NMAI - Drawdown Comparison
The maximum APAM drawdown since its inception was -59.70%, which is greater than NMAI's maximum drawdown of -37.40%. Use the drawdown chart below to compare losses from any high point for APAM and NMAI.
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Drawdown Indicators
| APAM | NMAI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.70% | -37.40% | -22.30% |
Max Drawdown (1Y)Largest decline over 1 year | -22.84% | -11.88% | -10.96% |
Max Drawdown (3Y)Largest decline over 3 years | -28.91% | -13.05% | -15.86% |
Max Drawdown (5Y)Largest decline over 5 years | -45.30% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -51.07% | — | — |
Current DrawdownCurrent decline from peak | -4.35% | 0.00% | -4.35% |
Average DrawdownAverage peak-to-trough decline | -23.60% | -13.64% | -9.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.50% | 2.89% | +9.61% |
Volatility
APAM vs. NMAI - Volatility Comparison
Artisan Partners Asset Management Inc. (APAM) has a higher volatility of 10.18% compared to Nuveen Multi-Asset Income Fund (NMAI) at 4.53%. This indicates that APAM's price experiences larger fluctuations and is considered to be riskier than NMAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| APAM | NMAI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.18% | 4.53% | +5.65% |
Volatility (6M)Calculated over the trailing 6-month period | 20.90% | 11.96% | +8.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.47% | 13.82% | +12.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.21% | 16.64% | +14.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.46% | 16.64% | +16.82% |
Dividends
APAM vs. NMAI - Dividend Comparison
APAM's dividend yield for the trailing twelve months is around 9.40%, less than NMAI's 10.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
APAM Artisan Partners Asset Management Inc. | 9.40% | 8.91% | 7.34% | 6.02% | 12.36% | 8.88% | 6.73% | 10.49% | 14.43% | 6.99% | 9.41% | 9.29% |
NMAI Nuveen Multi-Asset Income Fund | 10.07% | 9.89% | 13.73% | 10.57% | 19.45% | 1.88% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
APAM and NMAI have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
APAM has higher volatility (10.18%) compared to NMAI (4.53%). In terms of maximum drawdown, APAM dropped -59.70% vs NMAI's -37.40%.
NMAI currently has the higher Sharpe Ratio (2.05 vs 0.12), 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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