FAZTX vs. TIEIX
FAZTX (Nuveen Arizona Municipal Bond Fund) and TIEIX (Nuveen Equity Index Fund Class I) are both mutual funds - FAZTX is a Municipal Bonds fund managed by Nuveen, while TIEIX is a Large Cap Blend Equities fund tracking the Russell 3000 Index. Over the past 10 years, FAZTX returned 1.80%/yr vs 14.85%/yr for TIEIX. At a correlation of -0.07, they often move in opposite directions. FAZTX charges 0.80%/yr vs 0.09%/yr for TIEIX.
Performance
FAZTX vs. TIEIX - Performance Comparison
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Returns By Period
In the year-to-date period, FAZTX achieves a 1.75% return, which is significantly lower than TIEIX's 10.43% return. Over the past 10 years, FAZTX has underperformed TIEIX with an annualized return of 1.80%, while TIEIX has yielded a comparatively higher 14.85% annualized return.
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%
TIEIX
- 1D
- 1.13%
- 1M
- 0.82%
- YTD
- 10.43%
- 6M
- 9.68%
- 1Y
- 27.05%
- 3Y*
- 20.52%
- 5Y*
- 12.88%
- 10Y*
- 14.85%
FAZTX vs. TIEIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
TIEIX Nuveen Equity Index Fund Class I | 10.43% | 17.04% | 23.71% | 25.92% | -19.18% | 25.64% | 20.82% | 30.89% | -5.27% | 19.05% |
Correlation
The correlation between FAZTX and TIEIX is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Jun 14, 1999 | -0.07 |
The correlation between FAZTX and TIEIX shifts across timeframes, from -0.07 (all time) to 0.17 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FAZTX vs. TIEIX — Risk / Return Rank
FAZTX
TIEIX
FAZTX vs. TIEIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Arizona Municipal Bond Fund (FAZTX) and Nuveen Equity Index Fund Class I (TIEIX). 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.
| FAZTX | TIEIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.67 | ||
| Sortino ratioReturn per unit of downside risk | +1.56 | ||
| Omega ratioGain probability vs. loss probability | 1.68 | 1.38 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 2.70 | 3.06 | -0.35 |
| Martin ratioReturn relative to average drawdown | 8.67 | 13.64 | -4.98 |
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Drawdowns
FAZTX vs. TIEIX - Drawdown Comparison
The maximum FAZTX drawdown since its inception was -19.00%, smaller than the maximum TIEIX drawdown of -55.55%. Use the drawdown chart below to compare losses from any high point for FAZTX and TIEIX.
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Drawdown Indicators
| FAZTX | TIEIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.00% | -55.55% | +36.55% |
Max Drawdown (1Y)Largest decline over 1 year | -2.63% | -8.84% | +6.21% |
Max Drawdown (3Y)Largest decline over 3 years | -6.39% | -19.29% | +12.90% |
Max Drawdown (5Y)Largest decline over 5 years | -15.24% | -25.06% | +9.82% |
Max Drawdown (10Y)Largest decline over 10 years | -15.24% | -34.90% | +19.66% |
Current DrawdownCurrent decline from peak | -0.26% | -1.15% | +0.89% |
Average DrawdownAverage peak-to-trough decline | -2.47% | -10.28% | +7.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 1.97% | -1.15% |
Volatility
FAZTX vs. TIEIX - Volatility Comparison
The current volatility for Nuveen Arizona Municipal Bond Fund (FAZTX) is 0.70%, while Nuveen Equity Index Fund Class I (TIEIX) has a volatility of 4.84%. This indicates that FAZTX experiences smaller price fluctuations and is considered to be less risky than TIEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FAZTX | TIEIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.70% | 4.84% | -4.14% |
Volatility (6M)Calculated over the trailing 6-month period | 1.83% | 10.07% | -8.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.56% | 12.78% | -10.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.96% | 17.41% | -13.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.01% | 18.44% | -14.43% |
FAZTX vs. TIEIX - Expense Ratio Comparison
FAZTX has a 0.80% expense ratio, which is higher than TIEIX's 0.09% expense ratio.
Dividends
FAZTX vs. TIEIX - Dividend Comparison
FAZTX's dividend yield for the trailing twelve months is around 2.87%, more than TIEIX's 2.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
TIEIX Nuveen Equity Index Fund Class I | 2.17% | 2.39% | 1.63% | 1.47% | 1.83% | 2.08% | 1.43% | 1.99% | 2.45% | 0.52% | 2.45% | 1.27% |
Frequently Asked Questions
FAZTX and TIEIX have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TIEIX has higher volatility (4.84%) compared to FAZTX (0.70%). In terms of maximum drawdown, FAZTX dropped -19.00% vs TIEIX's -55.55%.
FAZTX currently has the higher Sharpe Ratio (2.79 vs 2.11), 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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