FGIYX vs. NHMRX

Last updated Jun 23, 2026

FGIYX (Nuveen Global Infrastructure Fund) and NHMRX (Nuveen High Yield Municipal Bond Fund) are both mutual funds - FGIYX is a Energy Equities fund managed by Nuveen, while NHMRX is a High Yield Muni fund managed by Nuveen. Over the past 10 years, FGIYX returned 9.30%/yr vs 3.62%/yr for NHMRX. At a 0.07 correlation, their price movements are largely independent. FGIYX charges 0.97%/yr vs 0.52%/yr for NHMRX.

Performance

FGIYX vs. NHMRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Global Infrastructure Fund (FGIYX) and Nuveen High Yield Municipal Bond Fund (NHMRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FGIYX achieves a 11.24% return, which is significantly higher than NHMRX's 3.47% return. Over the past 10 years, FGIYX has outperformed NHMRX with an annualized return of 9.30%, while NHMRX has yielded a comparatively lower 3.62% annualized return.

FGIYX

• 1D: 0.32%
• 1M: -1.01%
• YTD: 11.24%
• 6M: 12.00%
• 1Y: 17.91%
• 3Y*: 14.30%
• 5Y*: 9.96%
• 10Y*: 9.30%

NHMRX

• 1D: 0.14%
• 1M: 2.53%
• YTD: 3.47%
• 6M: 4.18%
• 1Y: 9.37%
• 3Y*: 4.96%
• 5Y*: 1.01%
• 10Y*: 3.62%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FGIYX vs. NHMRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FGIYX Nuveen Global Infrastructure Fund	11.24%	18.08%	10.91%	8.90%	-6.10%	14.85%	-2.55%	36.57%	-7.70%	19.64%
NHMRX Nuveen High Yield Municipal Bond Fund	3.47%	2.75%	5.62%	7.31%	-14.96%	9.93%	3.25%	12.59%	2.06%	12.10%

Correlation

The correlation between FGIYX and NHMRX is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (5Y) Calculated over the trailing 5-year period	0.23
Correlation (10Y) Calculated over the trailing 10-year period	0.18
Correlation (All Time) Calculated using the full available price history since Dec 18, 2007	0.07

The correlation between FGIYX and NHMRX shifts across timeframes, from 0.07 (all time) to 0.28 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

FGIYX vs. NHMRX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FGIYX

FGIYX Risk / Return Rank: 47
FGIYX Sharpe Ratio Rank: 41
FGIYX Sortino Ratio Rank: 39
FGIYX Omega Ratio Rank: 39
FGIYX Calmar Ratio Rank: 67
FGIYX Martin Ratio Rank: 49

NHMRX

NHMRX Risk / Return Rank: 63
NHMRX Sharpe Ratio Rank: 64
NHMRX Sortino Ratio Rank: 77
NHMRX Omega Ratio Rank: 82
NHMRX Calmar Ratio Rank: 52
NHMRX Martin Ratio Rank: 39

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FGIYX vs. NHMRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Global Infrastructure Fund (FGIYX) and Nuveen High Yield Municipal Bond Fund (NHMRX). 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.

	FGIYX	NHMRX	Difference
Sharpe ratio: Return per unit of total volatility	1.74	2.15	-0.41
Sortino ratio: Return per unit of downside risk	2.43	3.37	-0.95
Omega ratio: Gain probability vs. loss probability	1.31	1.50	-0.18
Calmar ratio: Return relative to maximum drawdown	3.01	2.64	+0.37
Martin ratio: Return relative to average drawdown	9.56	7.99	+1.57

FGIYX vs. NHMRX - Sharpe Ratio Comparison

The current FGIYX Sharpe Ratio is 1.74, which is comparable to the NHMRX Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of FGIYX and NHMRX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FGIYX vs. NHMRX - Drawdown Comparison

The maximum FGIYX drawdown since its inception was -49.18%, which is greater than NHMRX's maximum drawdown of -45.45%. Use the drawdown chart below to compare losses from any high point for FGIYX and NHMRX.

Drawdown Indicators

	FGIYX	NHMRX	Difference
Max Drawdown Largest peak-to-trough decline	-49.18%	-45.45%	-3.73%
Max Drawdown (1Y) Largest decline over 1 year	-5.99%	-3.58%	-2.41%
Max Drawdown (3Y) Largest decline over 3 years	-12.49%	-10.19%	-2.30%
Max Drawdown (5Y) Largest decline over 5 years	-20.92%	-21.52%	+0.60%
Max Drawdown (10Y) Largest decline over 10 years	-38.06%	-22.22%	-15.84%
Current Drawdown Current decline from peak	-2.82%	0.00%	-2.82%
Average Drawdown Average peak-to-trough decline	-7.02%	-5.32%	-1.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	1.18%	+0.70%

Volatility

FGIYX vs. NHMRX - Volatility Comparison

Nuveen Global Infrastructure Fund (FGIYX) has a higher volatility of 3.38% compared to Nuveen High Yield Municipal Bond Fund (NHMRX) at 1.03%. This indicates that FGIYX's price experiences larger fluctuations and is considered to be riskier than NHMRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FGIYX	NHMRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.38%	1.03%	+2.35%
Volatility (6M) Calculated over the trailing 6-month period	8.62%	3.06%	+5.56%
Volatility (1Y) Calculated over the trailing 1-year period	10.41%	4.40%	+6.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.21%	6.85%	+6.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.36%	6.73%	+8.63%

FGIYX vs. NHMRX - Expense Ratio Comparison

FGIYX has a 0.97% expense ratio, which is higher than NHMRX's 0.52% expense ratio.

Dividends

FGIYX vs. NHMRX - Dividend Comparison

FGIYX's dividend yield for the trailing twelve months is around 14.94%, more than NHMRX's 5.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FGIYX Nuveen Global Infrastructure Fund	14.94%	10.28%	7.74%	2.51%	6.41%	7.48%	1.62%	12.32%	6.62%	6.10%	8.64%	3.31%
NHMRX Nuveen High Yield Municipal Bond Fund	5.61%	6.07%	5.79%	7.34%	5.64%	4.69%	5.03%	5.39%	5.47%	5.38%	5.88%	5.60%

Frequently Asked Questions

Can I hold both FGIYX and NHMRX in my portfolio?

FGIYX and NHMRX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FGIYX or NHMRX?

FGIYX has higher volatility (3.38%) compared to NHMRX (1.03%). In terms of maximum drawdown, FGIYX dropped -49.18% vs NHMRX's -45.45%.

Which has better risk-adjusted returns?

NHMRX currently has the higher Sharpe Ratio (2.15 vs 1.74), 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.