FJMNX vs. DODIX

Last updated Jun 3, 2026

FJMNX (Nuveen Minnesota Municipal Bond Fund) and DODIX (Dodge & Cox Income Fund) are both mutual funds - FJMNX is a Municipal Bonds fund managed by Nuveen, while DODIX is a Total Bond Market fund managed by Dodge & Cox. Over the past 10 years, FJMNX returned 1.91%/yr vs 2.92%/yr for DODIX. A 0.52 correlation means they provide meaningful diversification when combined. FJMNX charges 0.77%/yr vs 0.41%/yr for DODIX.

Performance

FJMNX vs. DODIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Minnesota Municipal Bond Fund (FJMNX) and Dodge & Cox Income Fund (DODIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FJMNX achieves a 1.33% return, which is significantly higher than DODIX's 0.43% return. Over the past 10 years, FJMNX has underperformed DODIX with an annualized return of 1.91%, while DODIX has yielded a comparatively higher 2.92% annualized return.

FJMNX

• 1D: 0.00%
• 1M: 0.46%
• YTD: 1.33%
• 6M: 1.91%
• 1Y: 6.93%
• 3Y*: 3.58%
• 5Y*: 0.66%
• 10Y*: 1.91%

DODIX

• 1D: 0.00%
• 1M: 0.08%
• YTD: 0.43%
• 6M: 0.55%
• 1Y: 6.35%
• 3Y*: 5.23%
• 5Y*: 1.25%
• 10Y*: 2.92%

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

FJMNX vs. DODIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FJMNX Nuveen Minnesota Municipal Bond Fund	1.33%	3.40%	2.66%	5.40%	-9.58%	1.55%	4.02%	7.92%	0.38%	6.45%
DODIX Dodge & Cox Income Fund	0.43%	8.32%	2.25%	7.69%	-11.42%	-0.92%	9.46%	9.73%	-0.31%	4.36%

Correlation

The correlation between FJMNX and DODIX is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (10Y) Calculated over the trailing 10-year period	0.47
Correlation (All Time) Calculated using the full available price history since Jan 3, 1989	0.52

The correlation between FJMNX and DODIX has been stable across timeframes, ranging from 0.47 to 0.57 - a consistent structural relationship.

Return for Risk

FJMNX vs. DODIX — Risk / Return Rank

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

FJMNX

FJMNX Risk / Return Rank: 69
FJMNX Sharpe Ratio Rank: 78
FJMNX Sortino Ratio Rank: 86
FJMNX Omega Ratio Rank: 89
FJMNX Calmar Ratio Rank: 51
FJMNX Martin Ratio Rank: 43

DODIX

DODIX Risk / Return Rank: 26
DODIX Sharpe Ratio Rank: 26
DODIX Sortino Ratio Rank: 27
DODIX Omega Ratio Rank: 26
DODIX Calmar Ratio Rank: 27
DODIX Martin Ratio Rank: 23

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.

FJMNX vs. DODIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Minnesota Municipal Bond Fund (FJMNX) and Dodge & Cox Income Fund (DODIX). 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.

	FJMNX	DODIX	Difference
Sharpe ratio Return per unit of total volatility	2.57	1.51	+1.06
Sortino ratio Return per unit of downside risk	4.08	2.24	+1.84
Omega ratio Gain probability vs. loss probability	1.63	1.27	+0.35
Calmar ratio Return relative to maximum drawdown	2.75	2.00	+0.75
Martin ratio Return relative to average drawdown	9.19	6.16	+3.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FJMNX vs. DODIX - Sharpe Ratio Comparison

The current FJMNX Sharpe Ratio is 2.57, which is higher than the DODIX Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of FJMNX and DODIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FJMNX	DODIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.57	1.51	+1.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.16	0.23	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.66	-0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.89	1.47	-0.59

Drawdowns

FJMNX vs. DODIX - Drawdown Comparison

The maximum FJMNX drawdown since its inception was -17.21%, roughly equal to the maximum DODIX drawdown of -16.89%. Use the drawdown chart below to compare losses from any high point for FJMNX and DODIX.

Drawdown Indicators

	FJMNX	DODIX	Difference
Max Drawdown Largest peak-to-trough decline	-17.21%	-16.89%	-0.32%
Max Drawdown (1Y) Largest decline over 1 year	-2.49%	-3.17%	+0.68%
Max Drawdown (3Y) Largest decline over 3 years	-6.93%	-5.68%	-1.25%
Max Drawdown (5Y) Largest decline over 5 years	-15.28%	-16.89%	+1.61%
Max Drawdown (10Y) Largest decline over 10 years	-15.28%	-16.89%	+1.61%
Current Drawdown Current decline from peak	-0.45%	-1.71%	+1.26%
Average Drawdown Average peak-to-trough decline	-2.40%	-1.50%	-0.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.74%	1.03%	-0.29%

Volatility

FJMNX vs. DODIX - Volatility Comparison

The current volatility for Nuveen Minnesota Municipal Bond Fund (FJMNX) is 1.04%, while Dodge & Cox Income Fund (DODIX) has a volatility of 1.44%. This indicates that FJMNX experiences smaller price fluctuations and is considered to be less risky than DODIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FJMNX	DODIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.04%	1.44%	-0.40%
Volatility (6M) Calculated over the trailing 6-month period	1.88%	3.01%	-1.13%
Volatility (1Y) Calculated over the trailing 1-year period	2.61%	4.12%	-1.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.09%	5.56%	-1.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.18%	4.45%	-0.27%

FJMNX vs. DODIX - Expense Ratio Comparison

FJMNX has a 0.77% expense ratio, which is higher than DODIX's 0.41% expense ratio.

Dividends

FJMNX vs. DODIX - Dividend Comparison

FJMNX's dividend yield for the trailing twelve months is around 3.16%, less than DODIX's 4.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DODIX Dodge & Cox Income Fund	4.26%	4.23%	4.24%	3.86%	2.19%	3.23%	4.66%	3.63%	3.43%	3.03%	3.25%	3.09%
FJMNX Nuveen Minnesota Municipal Bond Fund	3.16%	3.47%	3.56%	3.24%	2.83%	1.78%	2.49%	3.23%	3.14%	3.19%	3.42%	3.63%

Frequently Asked Questions

Can I hold both FJMNX and DODIX in my portfolio?

FJMNX and DODIX have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FJMNX or DODIX?

DODIX has higher volatility (1.44%) compared to FJMNX (1.04%). In terms of maximum drawdown, FJMNX dropped -17.21% vs DODIX's -16.89%.

Which has better risk-adjusted returns?

FJMNX currently has the higher Sharpe Ratio (2.57 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.