BIDAX vs. NUV
BIDAX (iShares Municipal Bond Index Fund) and NUV (Nuveen Municipal Value Fund Inc.) are both Municipal Bonds funds. Over the past 5 years, BIDAX returned 0.69%/yr vs -0.87%/yr for NUV. At a 0.32 correlation, their price movements are largely independent. BIDAX charges 0.50%/yr vs 0.52%/yr for NUV.
Performance
BIDAX vs. NUV - Performance Comparison
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Returns By Period
In the year-to-date period, BIDAX achieves a 1.41% return, which is significantly lower than NUV's 1.79% return.
BIDAX
- 1D
- 0.18%
- 1M
- 0.72%
- YTD
- 1.41%
- 6M
- 1.76%
- 1Y
- 6.97%
- 3Y*
- 3.69%
- 5Y*
- 0.69%
- 10Y*
- —
NUV
- 1D
- -0.55%
- 1M
- 0.25%
- YTD
- 1.79%
- 6M
- 1.60%
- 1Y
- 10.54%
- 3Y*
- 5.20%
- 5Y*
- -0.87%
- 10Y*
- 2.43%
BIDAX vs. NUV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BIDAX iShares Municipal Bond Index Fund | 1.41% | 4.52% | 1.44% | 5.74% | -9.41% | 1.38% | 4.70% | 7.56% | 1.44% |
NUV Nuveen Municipal Value Fund Inc. | 1.79% | 10.27% | 4.04% | 3.99% | -14.03% | -3.51% | 7.50% | 19.75% | 0.77% |
Correlation
The correlation between BIDAX and NUV is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Nov 19, 2018 | 0.32 |
The correlation between BIDAX and NUV shifts across timeframes, from 0.32 (all time) to 0.43 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
BIDAX vs. NUV — Risk / Return Rank
BIDAX
NUV
BIDAX vs. NUV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Municipal Bond Index Fund (BIDAX) and Nuveen Municipal Value Fund Inc. (NUV). 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.
| BIDAX | NUV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.11 | ||
| Sortino ratioReturn per unit of downside risk | +1.90 | ||
| Omega ratioGain probability vs. loss probability | 1.66 | 1.28 | +0.39 |
| Calmar ratioReturn relative to maximum drawdown | 2.37 | 2.52 | -0.15 |
| Martin ratioReturn relative to average drawdown | 8.02 | 10.75 | -2.74 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BIDAX | NUV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.63 | 1.51 | +1.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.17 | -0.09 | +0.26 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.24 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.28 | +0.25 |
Drawdowns
BIDAX vs. NUV - Drawdown Comparison
The maximum BIDAX drawdown since its inception was -14.39%, smaller than the maximum NUV drawdown of -35.42%. Use the drawdown chart below to compare losses from any high point for BIDAX and NUV.
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Drawdown Indicators
| BIDAX | NUV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.39% | -35.42% | +21.03% |
Max Drawdown (1Y)Largest decline over 1 year | -2.95% | -4.20% | +1.25% |
Max Drawdown (3Y)Largest decline over 3 years | -6.07% | -9.24% | +3.17% |
Max Drawdown (5Y)Largest decline over 5 years | -14.39% | -28.29% | +13.90% |
Max Drawdown (10Y)Largest decline over 10 years | — | -28.29% | — |
Current DrawdownCurrent decline from peak | -0.65% | -7.86% | +7.21% |
Average DrawdownAverage peak-to-trough decline | -3.52% | -8.99% | +5.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.87% | 0.98% | -0.11% |
Volatility
BIDAX vs. NUV - Volatility Comparison
The current volatility for iShares Municipal Bond Index Fund (BIDAX) is 1.06%, while Nuveen Municipal Value Fund Inc. (NUV) has a volatility of 2.56%. This indicates that BIDAX experiences smaller price fluctuations and is considered to be less risky than NUV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BIDAX | NUV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | 2.56% | -1.50% |
Volatility (6M)Calculated over the trailing 6-month period | 2.06% | 5.17% | -3.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.68% | 6.99% | -4.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.08% | 9.56% | -5.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.44% | 10.34% | -5.90% |
BIDAX vs. NUV - Expense Ratio Comparison
BIDAX has a 0.50% expense ratio, which is lower than NUV's 0.52% expense ratio.
Dividends
BIDAX vs. NUV - Dividend Comparison
BIDAX's dividend yield for the trailing twelve months is around 3.11%, less than NUV's 4.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIDAX iShares Municipal Bond Index Fund | 3.11% | 4.09% | 3.25% | 2.16% | 1.92% | 2.36% | 2.35% | 3.64% | 0.48% | 0.00% | 0.00% | 0.00% |
NUV Nuveen Municipal Value Fund Inc. | 4.30% | 4.30% | 4.16% | 3.94% | 3.91% | 3.41% | 3.35% | 3.48% | 4.01% | 3.99% | 4.10% | 3.95% |
Frequently Asked Questions
BIDAX and NUV have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NUV has higher volatility (2.56%) compared to BIDAX (1.06%). In terms of maximum drawdown, BIDAX dropped -14.39% vs NUV's -35.42%.
BIDAX currently has the higher Sharpe Ratio (2.63 vs 1.51), 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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