FASEX vs. FAZTX
FASEX (Nuveen Mid Cap Value Fund) and FAZTX (Nuveen Arizona Municipal Bond Fund) are both mutual funds - FASEX is a Mid Cap Value Equities fund managed by Nuveen, while FAZTX is a Municipal Bonds fund managed by Nuveen. Over the past 10 years, FASEX returned 11.30%/yr vs 1.80%/yr for FAZTX. At a correlation of -0.02, they often move in opposite directions. FASEX charges 1.16%/yr vs 0.80%/yr for FAZTX.
Performance
FASEX vs. FAZTX - Performance Comparison
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Returns By Period
In the year-to-date period, FASEX achieves a 19.73% return, which is significantly higher than FAZTX's 1.75% return. Over the past 10 years, FASEX has outperformed FAZTX with an annualized return of 11.30%, while FAZTX has yielded a comparatively lower 1.80% annualized return.
FASEX
- 1D
- 0.79%
- 1M
- 3.49%
- YTD
- 19.73%
- 6M
- 18.08%
- 1Y
- 32.90%
- 3Y*
- 16.10%
- 5Y*
- 10.83%
- 10Y*
- 11.30%
FAZTX
- 1D
- 0.10%
- 1M
- 1.66%
- YTD
- 1.75%
- 6M
- 2.12%
- 1Y
- 7.06%
- 3Y*
- 3.57%
- 5Y*
- 0.45%
- 10Y*
- 1.80%
FASEX vs. FAZTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FASEX Nuveen Mid Cap Value Fund | 19.73% | 9.68% | 10.40% | 14.20% | -10.63% | 34.84% | 1.19% | 26.68% | -13.00% | 19.23% |
FAZTX Nuveen Arizona Municipal Bond Fund | 1.75% | 3.09% | 2.00% | 5.93% | -10.29% | 1.87% | 5.17% | 7.33% | 0.69% | 5.46% |
Correlation
The correlation between FASEX and FAZTX is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Dec 22, 1987 | -0.02 |
The correlation between FASEX and FAZTX shifts across timeframes, from -0.02 (all time) to 0.14 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FASEX vs. FAZTX — Risk / Return Rank
FASEX
FAZTX
FASEX vs. FAZTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Mid Cap Value Fund (FASEX) and Nuveen Arizona Municipal Bond Fund (FAZTX). 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.
| FASEX | FAZTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | -1.04 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.68 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 4.55 | 2.70 | +1.84 |
| Martin ratioReturn relative to average drawdown | 16.56 | 8.67 | +7.90 |
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Drawdowns
FASEX vs. FAZTX - Drawdown Comparison
The maximum FASEX drawdown since its inception was -55.57%, which is greater than FAZTX's maximum drawdown of -19.00%. Use the drawdown chart below to compare losses from any high point for FASEX and FAZTX.
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Drawdown Indicators
| FASEX | FAZTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.57% | -19.00% | -36.57% |
Max Drawdown (1Y)Largest decline over 1 year | -7.37% | -2.63% | -4.74% |
Max Drawdown (3Y)Largest decline over 3 years | -22.26% | -6.39% | -15.87% |
Max Drawdown (5Y)Largest decline over 5 years | -22.26% | -15.24% | -7.02% |
Max Drawdown (10Y)Largest decline over 10 years | -44.56% | -15.24% | -29.32% |
Current DrawdownCurrent decline from peak | -0.06% | -0.26% | +0.20% |
Average DrawdownAverage peak-to-trough decline | -8.92% | -2.47% | -6.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.01% | 0.82% | +1.19% |
Volatility
FASEX vs. FAZTX - Volatility Comparison
Nuveen Mid Cap Value Fund (FASEX) has a higher volatility of 4.30% compared to Nuveen Arizona Municipal Bond Fund (FAZTX) at 0.70%. This indicates that FASEX's price experiences larger fluctuations and is considered to be riskier than FAZTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FASEX | FAZTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.30% | 0.70% | +3.60% |
Volatility (6M)Calculated over the trailing 6-month period | 10.44% | 1.83% | +8.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.95% | 2.56% | +11.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.08% | 3.96% | +14.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.22% | 4.01% | +16.21% |
FASEX vs. FAZTX - Expense Ratio Comparison
FASEX has a 1.16% expense ratio, which is higher than FAZTX's 0.80% expense ratio.
Dividends
FASEX vs. FAZTX - Dividend Comparison
FASEX's dividend yield for the trailing twelve months is around 12.25%, more than FAZTX's 2.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FASEX Nuveen Mid Cap Value Fund | 12.25% | 14.67% | 5.29% | 3.12% | 6.32% | 4.02% | 1.06% | 0.89% | 4.48% | 7.93% | 3.67% | 3.49% |
FAZTX Nuveen Arizona Municipal Bond Fund | 2.87% | 3.09% | 3.07% | 2.70% | 2.56% | 2.02% | 2.58% | 2.89% | 2.81% | 2.58% | 2.82% | 3.39% |
Frequently Asked Questions
FASEX and FAZTX have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FASEX has higher volatility (4.30%) compared to FAZTX (0.70%). In terms of maximum drawdown, FASEX dropped -55.57% vs FAZTX's -19.00%.
FAZTX currently has the higher Sharpe Ratio (2.79 vs 2.40), 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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