FLTDX vs. MPA
FLTDX (Nuveen Limited Term Municipal Bond Fund) and MPA (BlackRock MuniYield Pennsylvania Quality Fund) are both Municipal Bonds funds. Over the past 10 years, FLTDX returned 1.76%/yr vs 1.65%/yr for MPA. At a 0.25 correlation, their price movements are largely independent. FLTDX charges 0.60%/yr vs 2.28%/yr for MPA.
Performance
FLTDX vs. MPA - Performance Comparison
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Returns By Period
In the year-to-date period, FLTDX achieves a 0.63% return, which is significantly lower than MPA's 4.22% return. Over the past 10 years, FLTDX has outperformed MPA with an annualized return of 1.76%, while MPA has yielded a comparatively lower 1.65% annualized return.
FLTDX
- 1D
- -0.09%
- 1M
- 0.86%
- YTD
- 0.63%
- 6M
- 0.95%
- 1Y
- 3.56%
- 3Y*
- 3.05%
- 5Y*
- 1.29%
- 10Y*
- 1.76%
MPA
- 1D
- 0.09%
- 1M
- 1.14%
- YTD
- 4.22%
- 6M
- 4.60%
- 1Y
- 11.23%
- 3Y*
- 4.64%
- 5Y*
- -1.41%
- 10Y*
- 1.65%
FLTDX vs. MPA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FLTDX Nuveen Limited Term Municipal Bond Fund | 0.63% | 4.30% | 1.47% | 4.09% | -4.08% | 0.98% | 3.42% | 5.05% | 1.73% | 3.15% |
MPA BlackRock MuniYield Pennsylvania Quality Fund | 4.22% | 1.82% | 6.23% | 9.67% | -31.00% | 17.06% | 9.14% | 18.87% | -8.00% | 7.22% |
Correlation
The correlation between FLTDX and MPA is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 1994 | 0.25 |
The correlation between FLTDX and MPA shifts across timeframes, from 0.25 (all time) to 0.45 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FLTDX vs. MPA — Risk / Return Rank
FLTDX
MPA
FLTDX vs. MPA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Limited Term Municipal Bond Fund (FLTDX) and BlackRock MuniYield Pennsylvania Quality Fund (MPA). 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.
| FLTDX | MPA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.83 | ||
| Sortino ratioReturn per unit of downside risk | +1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.62 | 1.25 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 1.87 | 1.76 | +0.11 |
| Martin ratioReturn relative to average drawdown | 4.95 | 6.90 | -1.94 |
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Drawdowns
FLTDX vs. MPA - Drawdown Comparison
The maximum FLTDX drawdown since its inception was -8.57%, smaller than the maximum MPA drawdown of -44.78%. Use the drawdown chart below to compare losses from any high point for FLTDX and MPA.
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Drawdown Indicators
| FLTDX | MPA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.57% | -44.78% | +36.21% |
Max Drawdown (1Y)Largest decline over 1 year | -1.97% | -6.42% | +4.45% |
Max Drawdown (3Y)Largest decline over 3 years | -3.07% | -14.77% | +11.70% |
Max Drawdown (5Y)Largest decline over 5 years | -6.92% | -38.10% | +31.18% |
Max Drawdown (10Y)Largest decline over 10 years | -8.57% | -38.10% | +29.53% |
Current DrawdownCurrent decline from peak | -0.90% | -17.06% | +16.16% |
Average DrawdownAverage peak-to-trough decline | -0.77% | -9.78% | +9.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.74% | 1.63% | -0.89% |
Volatility
FLTDX vs. MPA - Volatility Comparison
The current volatility for Nuveen Limited Term Municipal Bond Fund (FLTDX) is 0.47%, while BlackRock MuniYield Pennsylvania Quality Fund (MPA) has a volatility of 1.85%. This indicates that FLTDX experiences smaller price fluctuations and is considered to be less risky than MPA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLTDX | MPA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.47% | 1.85% | -1.38% |
Volatility (6M)Calculated over the trailing 6-month period | 1.31% | 6.10% | -4.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.67% | 8.09% | -6.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.21% | 12.12% | -9.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.42% | 12.33% | -9.91% |
FLTDX vs. MPA - Expense Ratio Comparison
FLTDX has a 0.60% expense ratio, which is lower than MPA's 2.28% expense ratio.
Dividends
FLTDX vs. MPA - Dividend Comparison
FLTDX's dividend yield for the trailing twelve months is around 2.49%, less than MPA's 5.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLTDX Nuveen Limited Term Municipal Bond Fund | 2.49% | 2.72% | 2.48% | 1.95% | 1.36% | 1.15% | 1.93% | 2.11% | 1.89% | 1.82% | 1.86% | 1.84% |
MPA BlackRock MuniYield Pennsylvania Quality Fund | 5.90% | 6.98% | 6.02% | 3.63% | 5.60% | 3.94% | 4.12% | 4.16% | 5.40% | 5.22% | 5.56% | 5.94% |
Frequently Asked Questions
FLTDX and MPA have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MPA has higher volatility (1.85%) compared to FLTDX (0.47%). In terms of maximum drawdown, FLTDX dropped -8.57% vs MPA's -44.78%.
FLTDX currently has the higher Sharpe Ratio (2.22 vs 1.39), 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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