ENB vs. NZF
ENB (Enbridge Inc.) is a stock, while NZF (Nuveen Municipal Credit Income Fund) is Municipal Bonds fund tracking the S&P National Municipal Bond Index. Over the past 10 years, ENB returned 9.68%/yr vs 3.63%/yr for NZF. At a 0.13 correlation, their price movements are largely independent.
Performance
ENB vs. NZF - Performance Comparison
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Returns By Period
In the year-to-date period, ENB achieves a 21.23% return, which is significantly higher than NZF's 3.68% return. Over the past 10 years, ENB has outperformed NZF with an annualized return of 9.68%, while NZF has yielded a comparatively lower 3.63% annualized return.
ENB
- 1D
- 0.07%
- 1M
- 3.68%
- YTD
- 21.23%
- 6M
- 21.95%
- 1Y
- 27.43%
- 3Y*
- 22.21%
- 5Y*
- 14.42%
- 10Y*
- 9.68%
NZF
- 1D
- -0.47%
- 1M
- 1.12%
- YTD
- 3.68%
- 6M
- 3.27%
- 1Y
- 14.21%
- 3Y*
- 10.46%
- 5Y*
- 0.01%
- 10Y*
- 3.63%
ENB vs. NZF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ENB Enbridge Inc. | 21.23% | 19.51% | 26.35% | -1.13% | 6.46% | 30.83% | -13.60% | 36.05% | -15.53% | -2.73% |
NZF Nuveen Municipal Credit Income Fund | 3.68% | 11.78% | 10.09% | 2.49% | -25.53% | 11.19% | 3.58% | 28.33% | -6.79% | 14.48% |
Correlation
The correlation between ENB and NZF is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2001 | 0.13 |
The correlation between ENB and NZF shifts across timeframes, from 0.01 (1 year) to 0.20 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
ENB vs. NZF — Risk / Return Rank
ENB
NZF
ENB vs. NZF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Enbridge Inc. (ENB) and Nuveen Municipal Credit Income Fund (NZF). 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.
| ENB | NZF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.35 | ||
| Sortino ratioReturn per unit of downside risk | +0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.26 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.03 | 1.76 | +1.27 |
| Martin ratioReturn relative to average drawdown | 7.64 | 7.22 | +0.43 |
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Drawdowns
ENB vs. NZF - Drawdown Comparison
The maximum ENB drawdown since its inception was -46.35%, roughly equal to the maximum NZF drawdown of -48.55%. Use the drawdown chart below to compare losses from any high point for ENB and NZF.
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Drawdown Indicators
| ENB | NZF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.35% | -48.55% | +2.20% |
Max Drawdown (1Y)Largest decline over 1 year | -9.10% | -8.11% | -0.99% |
Max Drawdown (3Y)Largest decline over 3 years | -15.29% | -15.59% | +0.30% |
Max Drawdown (5Y)Largest decline over 5 years | -28.32% | -37.42% | +9.10% |
Max Drawdown (10Y)Largest decline over 10 years | -44.07% | -37.42% | -6.65% |
Current DrawdownCurrent decline from peak | -2.65% | -3.50% | +0.85% |
Average DrawdownAverage peak-to-trough decline | -10.83% | -7.77% | -3.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.64% | 1.97% | +1.67% |
Volatility
ENB vs. NZF - Volatility Comparison
Enbridge Inc. (ENB) has a higher volatility of 5.99% compared to Nuveen Municipal Credit Income Fund (NZF) at 3.61%. This indicates that ENB's price experiences larger fluctuations and is considered to be riskier than NZF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ENB | NZF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.99% | 3.61% | +2.38% |
Volatility (6M)Calculated over the trailing 6-month period | 12.96% | 8.30% | +4.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.21% | 10.47% | +5.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.65% | 12.39% | +6.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.33% | 13.11% | +11.22% |
Dividends
ENB vs. NZF - Dividend Comparison
ENB's dividend yield for the trailing twelve months is around 4.91%, less than NZF's 7.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ENB Enbridge Inc. | 4.91% | 5.66% | 6.28% | 7.31% | 6.80% | 6.85% | 7.55% | 5.58% | 6.68% | 4.71% | 4.13% | 4.71% |
NZF Nuveen Municipal Credit Income Fund | 7.55% | 7.58% | 6.84% | 4.51% | 5.80% | 4.63% | 4.74% | 4.82% | 6.05% | 5.86% | 6.26% | 5.50% |
Frequently Asked Questions
ENB and NZF have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ENB has higher volatility (5.99%) compared to NZF (3.61%). In terms of maximum drawdown, ENB dropped -46.35% vs NZF's -48.55%.
ENB currently has the higher Sharpe Ratio (1.71 vs 1.36), 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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