FMITX vs. SPXX
Compare and contrast key facts about Nuveen Michigan Municipal Bond Fund (FMITX) and Nuveen S&P 500 Dynamic Overwrite Fund (SPXX).
FMITX is managed by Nuveen. It was launched on Jun 26, 1985. SPXX is an actively managed fund by Nuveen. It was launched on Nov 23, 2005.
Performance
FMITX vs. SPXX - Performance Comparison
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FMITX vs. SPXX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FMITX Nuveen Michigan Municipal Bond Fund | -0.51% | 2.98% | 0.98% | 5.35% | -10.59% | 1.30% | 5.10% | 7.07% | 0.58% | 5.00% |
SPXX Nuveen S&P 500 Dynamic Overwrite Fund | -7.83% | 9.78% | 27.10% | 0.85% | -6.92% | 29.03% | -0.37% | 25.36% | -13.42% | 27.92% |
Returns By Period
In the year-to-date period, FMITX achieves a -0.51% return, which is significantly higher than SPXX's -7.83% return. Over the past 10 years, FMITX has underperformed SPXX with an annualized return of 1.45%, while SPXX has yielded a comparatively higher 9.25% annualized return.
FMITX
- 1D
- 0.47%
- 1M
- -1.89%
- YTD
- -0.51%
- 6M
- 1.28%
- 1Y
- 3.05%
- 3Y*
- 2.10%
- 5Y*
- -0.16%
- 10Y*
- 1.45%
SPXX
- 1D
- 1.43%
- 1M
- -6.59%
- YTD
- -7.83%
- 6M
- -3.93%
- 1Y
- 3.85%
- 3Y*
- 9.58%
- 5Y*
- 7.13%
- 10Y*
- 9.25%
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FMITX vs. SPXX - Expense Ratio Comparison
FMITX has a 0.78% expense ratio, which is lower than SPXX's 0.89% expense ratio.
Return for Risk
FMITX vs. SPXX — Risk / Return Rank
FMITX
SPXX
FMITX vs. SPXX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Michigan Municipal Bond Fund (FMITX) and Nuveen S&P 500 Dynamic Overwrite Fund (SPXX). 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.
| FMITX | SPXX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.72 | 0.22 | +0.50 |
Sortino ratioReturn per unit of downside risk | 0.97 | 0.44 | +0.53 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.06 | +0.13 |
Calmar ratioReturn relative to maximum drawdown | 0.91 | 0.32 | +0.59 |
Martin ratioReturn relative to average drawdown | 2.30 | 1.11 | +1.20 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FMITX | SPXX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.72 | 0.22 | +0.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.04 | 0.45 | -0.49 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | 0.50 | -0.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.10 | 0.36 | +0.74 |
Correlation
The correlation between FMITX and SPXX is -0.06. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
FMITX vs. SPXX - Dividend Comparison
FMITX's dividend yield for the trailing twelve months is around 3.28%, less than SPXX's 8.28% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMITX Nuveen Michigan Municipal Bond Fund | 3.28% | 3.17% | 2.96% | 2.60% | 2.29% | 2.05% | 2.34% | 2.65% | 2.67% | 2.93% | 3.34% | 3.84% |
SPXX Nuveen S&P 500 Dynamic Overwrite Fund | 8.28% | 7.48% | 6.87% | 7.82% | 7.30% | 5.27% | 6.56% | 6.44% | 7.98% | 5.69% | 5.14% | 7.75% |
Drawdowns
FMITX vs. SPXX - Drawdown Comparison
The maximum FMITX drawdown since its inception was -18.15%, smaller than the maximum SPXX drawdown of -52.39%. Use the drawdown chart below to compare losses from any high point for FMITX and SPXX.
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Drawdown Indicators
| FMITX | SPXX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.15% | -52.39% | +34.24% |
Max Drawdown (1Y)Largest decline over 1 year | -4.85% | -13.00% | +8.15% |
Max Drawdown (5Y)Largest decline over 5 years | -15.48% | -18.09% | +2.61% |
Max Drawdown (10Y)Largest decline over 10 years | -15.48% | -43.99% | +28.51% |
Current DrawdownCurrent decline from peak | -3.11% | -9.24% | +6.13% |
Average DrawdownAverage peak-to-trough decline | -2.36% | -7.51% | +5.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.92% | 3.75% | -1.83% |
Volatility
FMITX vs. SPXX - Volatility Comparison
The current volatility for Nuveen Michigan Municipal Bond Fund (FMITX) is 1.27%, while Nuveen S&P 500 Dynamic Overwrite Fund (SPXX) has a volatility of 4.96%. This indicates that FMITX experiences smaller price fluctuations and is considered to be less risky than SPXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMITX | SPXX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.27% | 4.96% | -3.69% |
Volatility (6M)Calculated over the trailing 6-month period | 1.84% | 9.29% | -7.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.00% | 17.96% | -12.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.10% | 15.80% | -11.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.09% | 18.39% | -14.30% |