FMUAX vs. NWQIX
FMUAX (Federated Hermes Municipal and Stock Advantage Fund) and NWQIX (Nuveen Flexible Income Fund) are both Diversified Portfolio funds. Over the past 10 years, FMUAX returned 6.17%/yr vs 5.69%/yr for NWQIX. A 0.63 correlation means they provide meaningful diversification when combined. FMUAX charges 1.00%/yr vs 0.70%/yr for NWQIX.
Performance
FMUAX vs. NWQIX - Performance Comparison
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Returns By Period
In the year-to-date period, FMUAX achieves a 6.13% return, which is significantly higher than NWQIX's 5.71% return. Over the past 10 years, FMUAX has outperformed NWQIX with an annualized return of 6.17%, while NWQIX has yielded a comparatively lower 5.69% annualized return.
FMUAX
- 1D
- 0.42%
- 1M
- 2.13%
- YTD
- 6.13%
- 6M
- 6.19%
- 1Y
- 16.49%
- 3Y*
- 9.79%
- 5Y*
- 5.10%
- 10Y*
- 6.17%
NWQIX
- 1D
- 0.25%
- 1M
- 1.61%
- YTD
- 5.71%
- 6M
- 6.17%
- 1Y
- 14.70%
- 3Y*
- 10.64%
- 5Y*
- 4.46%
- 10Y*
- 5.69%
FMUAX vs. NWQIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FMUAX Federated Hermes Municipal and Stock Advantage Fund | 6.13% | 9.00% | 8.70% | 9.81% | -10.68% | 10.32% | 8.48% | 15.16% | -5.24% | 11.09% |
NWQIX Nuveen Flexible Income Fund | 5.71% | 11.74% | 6.03% | 11.61% | -13.64% | 4.94% | 5.54% | 18.57% | -4.07% | 9.18% |
Correlation
The correlation between FMUAX and NWQIX is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2010 | 0.63 |
The correlation between FMUAX and NWQIX has been stable across timeframes, ranging from 0.62 to 0.69 - a consistent structural relationship.
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Return for Risk
FMUAX vs. NWQIX — Risk / Return Rank
FMUAX
NWQIX
FMUAX vs. NWQIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Municipal and Stock Advantage Fund (FMUAX) and Nuveen Flexible Income Fund (NWQIX). 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.
| FMUAX | NWQIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.46 | ||
| Sortino ratioReturn per unit of downside risk | -0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.64 | 1.84 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 4.16 | 5.06 | -0.90 |
| Martin ratioReturn relative to average drawdown | 19.98 | 23.89 | -3.92 |
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Drawdowns
FMUAX vs. NWQIX - Drawdown Comparison
The maximum FMUAX drawdown since its inception was -22.43%, smaller than the maximum NWQIX drawdown of -23.89%. Use the drawdown chart below to compare losses from any high point for FMUAX and NWQIX.
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Drawdown Indicators
| FMUAX | NWQIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.43% | -23.89% | +1.46% |
Max Drawdown (1Y)Largest decline over 1 year | -4.94% | -2.94% | -2.00% |
Max Drawdown (3Y)Largest decline over 3 years | -10.18% | -4.59% | -5.59% |
Max Drawdown (5Y)Largest decline over 5 years | -15.93% | -17.75% | +1.82% |
Max Drawdown (10Y)Largest decline over 10 years | -21.46% | -23.89% | +2.43% |
Current DrawdownCurrent decline from peak | -0.12% | 0.00% | -0.12% |
Average DrawdownAverage peak-to-trough decline | -2.75% | -3.00% | +0.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 0.62% | +0.34% |
Volatility
FMUAX vs. NWQIX - Volatility Comparison
Federated Hermes Municipal and Stock Advantage Fund (FMUAX) has a higher volatility of 2.21% compared to Nuveen Flexible Income Fund (NWQIX) at 1.25%. This indicates that FMUAX's price experiences larger fluctuations and is considered to be riskier than NWQIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMUAX | NWQIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.21% | 1.25% | +0.96% |
Volatility (6M)Calculated over the trailing 6-month period | 5.03% | 3.13% | +1.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.24% | 3.97% | +2.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.21% | 5.70% | +1.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.13% | 6.33% | +1.80% |
FMUAX vs. NWQIX - Expense Ratio Comparison
FMUAX has a 1.00% expense ratio, which is higher than NWQIX's 0.70% expense ratio.
Dividends
FMUAX vs. NWQIX - Dividend Comparison
FMUAX's dividend yield for the trailing twelve months is around 1.24%, less than NWQIX's 5.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMUAX Federated Hermes Municipal and Stock Advantage Fund | 1.24% | 1.23% | 2.01% | 2.53% | 2.25% | 4.56% | 2.12% | 4.00% | 7.98% | 2.17% | 2.36% | 2.80% |
NWQIX Nuveen Flexible Income Fund | 5.49% | 6.09% | 5.20% | 7.84% | 7.02% | 4.39% | 4.82% | 5.71% | 6.23% | 5.67% | 5.52% | 5.70% |
Frequently Asked Questions
FMUAX and NWQIX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FMUAX has higher volatility (2.21%) compared to NWQIX (1.25%). In terms of maximum drawdown, FMUAX dropped -22.43% vs NWQIX's -23.89%.
NWQIX currently has the higher Sharpe Ratio (3.75 vs 3.29), 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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