FQTHX vs. NMHIX

Last updated Jun 24, 2026

FQTHX (Franklin Templeton SMACS: Series H) and NMHIX (Neuberger Berman Municipal High Income Fund) are both High Yield Muni funds. Their correlation of 0.84 suggests significant overlap in exposure. FQTHX charges 0.00%/yr vs 0.52%/yr for NMHIX.

Performance

FQTHX vs. NMHIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Templeton SMACS: Series H (FQTHX) and Neuberger Berman Municipal High Income Fund (NMHIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FQTHX

• 1D: -0.11%
• 1M: 2.29%
• YTD: 3.21%
• 6M: 3.82%
• 1Y: 9.29%
• 3Y*: 7.51%
• 5Y*: 2.57%
• 10Y*: —

NMHIX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FQTHX vs. NMHIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FQTHX Franklin Templeton SMACS: Series H	3.21%	5.94%	8.76%	8.88%	-14.00%	6.04%	4.90%	1.65%
NMHIX Neuberger Berman Municipal High Income Fund	0.48%	3.56%	6.27%	4.34%	-14.26%	4.90%	4.04%	3.41%

Correlation

The correlation between FQTHX and NMHIX is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since Jun 3, 2019	0.84

The correlation between FQTHX and NMHIX has been stable across timeframes, ranging from 0.80 to 0.86 - a consistent structural relationship.

Return for Risk

FQTHX vs. NMHIX — Risk / Return Rank

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

FQTHX

FQTHX Risk / Return Rank: 76
FQTHX Sharpe Ratio Rank: 84
FQTHX Sortino Ratio Rank: 91
FQTHX Omega Ratio Rank: 90
FQTHX Calmar Ratio Rank: 61
FQTHX Martin Ratio Rank: 52

NMHIX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

FQTHX vs. NMHIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Templeton SMACS: Series H (FQTHX) and Neuberger Berman Municipal High Income Fund (NMHIX). 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.

	FQTHX	NMHIX	Difference
Sharpe ratio: Return per unit of total volatility	2.53	—	—
Sortino ratio: Return per unit of downside risk	4.15	—	—
Omega ratio: Gain probability vs. loss probability	1.62	—	—
Calmar ratio: Return relative to maximum drawdown	2.87	—	—
Martin ratio: Return relative to average drawdown	9.99	—	—

Drawdowns

Drawdown Indicators

	FQTHX	NMHIX	Difference
Max Drawdown Largest peak-to-trough decline	-18.96%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-3.30%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-7.78%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.96%	—	—
Current Drawdown Current decline from peak	-0.11%	—	—
Average Drawdown Average peak-to-trough decline	-4.68%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	—	—

Volatility

Volatility by Period

	FQTHX	NMHIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.03%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.76%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.76%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.37%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.06%	—	—

FQTHX vs. NMHIX - Expense Ratio Comparison

FQTHX has a 0.00% expense ratio, which is lower than NMHIX's 0.52% expense ratio.

Dividends

FQTHX vs. NMHIX - Dividend Comparison

FQTHX's dividend yield for the trailing twelve months is around 5.06%, more than NMHIX's 4.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FQTHX Franklin Templeton SMACS: Series H	5.06%	6.76%	5.86%	3.67%	3.82%	3.03%	3.05%	1.43%	0.00%	0.00%	0.00%
NMHIX Neuberger Berman Municipal High Income Fund	4.16%	3.98%	3.81%	3.11%	2.43%	2.74%	2.90%	3.36%	3.64%	3.44%	4.42%

Frequently Asked Questions

Can I hold both FQTHX and NMHIX in my portfolio?

FQTHX and NMHIX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.