FRCOX vs. NMTRX
FRCOX (Franklin Colorado Tax Free Income Fund) and NMTRX (Nuveen Municipal Total Return Managed Accounts) are both Municipal Bonds funds. Over the past 10 years, FRCOX returned 1.85%/yr vs 2.22%/yr for NMTRX. Their correlation of 0.81 suggests significant overlap in exposure. FRCOX charges 0.70%/yr vs 0.05%/yr for NMTRX.
Performance
FRCOX vs. NMTRX - Performance Comparison
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Returns By Period
In the year-to-date period, FRCOX achieves a 1.98% return, which is significantly lower than NMTRX's 2.58% return. Over the past 10 years, FRCOX has underperformed NMTRX with an annualized return of 1.85%, while NMTRX has yielded a comparatively higher 2.22% annualized return.
FRCOX
- 1D
- 0.00%
- 1M
- 1.82%
- YTD
- 1.98%
- 6M
- 2.38%
- 1Y
- 7.80%
- 3Y*
- 4.46%
- 5Y*
- 0.94%
- 10Y*
- 1.85%
NMTRX
- 1D
- 0.00%
- 1M
- 1.91%
- YTD
- 2.58%
- 6M
- 2.98%
- 1Y
- 8.17%
- 3Y*
- 4.13%
- 5Y*
- 0.53%
- 10Y*
- 2.22%
FRCOX vs. NMTRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FRCOX Franklin Colorado Tax Free Income Fund | 1.98% | 4.72% | 3.21% | 5.98% | -10.92% | 1.60% | 4.97% | 7.07% | 1.02% | 2.48% |
NMTRX Nuveen Municipal Total Return Managed Accounts | 2.58% | 3.90% | 1.99% | 6.21% | -11.98% | 2.69% | 5.25% | 9.26% | 1.06% | 7.41% |
Correlation
The correlation between FRCOX and NMTRX is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since May 31, 2007 | 0.81 |
The correlation between FRCOX and NMTRX shifts across timeframes, from 0.81 (all time) to 0.91 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
FRCOX vs. NMTRX — Risk / Return Rank
FRCOX
NMTRX
FRCOX vs. NMTRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Colorado Tax Free Income Fund (FRCOX) and Nuveen Municipal Total Return Managed Accounts (NMTRX). 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.
| FRCOX | NMTRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.65 | 1.68 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.84 | 3.06 | -0.22 |
| Martin ratioReturn relative to average drawdown | 10.06 | 11.25 | -1.19 |
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Drawdowns
FRCOX vs. NMTRX - Drawdown Comparison
The maximum FRCOX drawdown since its inception was -15.80%, roughly equal to the maximum NMTRX drawdown of -16.36%. Use the drawdown chart below to compare losses from any high point for FRCOX and NMTRX.
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Drawdown Indicators
| FRCOX | NMTRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.80% | -16.36% | +0.56% |
Max Drawdown (1Y)Largest decline over 1 year | -2.72% | -2.65% | -0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -6.77% | -5.77% | -1.00% |
Max Drawdown (5Y)Largest decline over 5 years | -15.64% | -16.36% | +0.72% |
Max Drawdown (10Y)Largest decline over 10 years | -15.64% | -16.36% | +0.72% |
Current DrawdownCurrent decline from peak | -0.09% | -0.10% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -1.98% | -2.90% | +0.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 0.72% | +0.05% |
Volatility
FRCOX vs. NMTRX - Volatility Comparison
Franklin Colorado Tax Free Income Fund (FRCOX) and Nuveen Municipal Total Return Managed Accounts (NMTRX) have volatilities of 0.87% and 0.90%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FRCOX | NMTRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.87% | 0.90% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.16% | 2.24% | -0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.93% | 2.97% | -0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.22% | 4.03% | +0.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.02% | 4.39% | -0.37% |
FRCOX vs. NMTRX - Expense Ratio Comparison
FRCOX has a 0.70% expense ratio, which is higher than NMTRX's 0.05% expense ratio.
Dividends
FRCOX vs. NMTRX - Dividend Comparison
FRCOX's dividend yield for the trailing twelve months is around 3.30%, less than NMTRX's 4.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRCOX Franklin Colorado Tax Free Income Fund | 3.30% | 4.33% | 3.73% | 2.66% | 2.74% | 2.17% | 2.52% | 3.57% | 3.30% | 3.16% | 3.80% | 3.85% |
NMTRX Nuveen Municipal Total Return Managed Accounts | 4.58% | 4.46% | 3.55% | 3.67% | 3.28% | 2.73% | 2.92% | 3.20% | 3.47% | 3.28% | 3.71% | 3.91% |
Frequently Asked Questions
FRCOX and NMTRX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NMTRX has higher volatility (0.90%) compared to FRCOX (0.87%). In terms of maximum drawdown, FRCOX dropped -15.80% vs NMTRX's -16.36%.
NMTRX currently has the higher Sharpe Ratio (2.72 vs 2.64), 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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