FWIAX vs. QQQX
FWIAX (Nuveen Wisconsin Municipal Bond Fund) and QQQX (Nuveen Nasdaq 100 Dynamic Overwrite Fund) are both mutual funds - FWIAX is a Municipal Bonds fund managed by Nuveen, while QQQX is a Derivative Income fund actively managed by Nuveen. Over the past 10 years, FWIAX returned 2.02%/yr vs 13.67%/yr for QQQX. At a correlation of -0.06, they often move in opposite directions. FWIAX charges 0.84%/yr vs 0.89%/yr for QQQX.
Performance
FWIAX vs. QQQX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FWIAX achieves a 1.77% return, which is significantly lower than QQQX's 9.72% return. Over the past 10 years, FWIAX has underperformed QQQX with an annualized return of 2.02%, while QQQX has yielded a comparatively higher 13.67% annualized return.
FWIAX
- 1D
- 0.00%
- 1M
- 1.76%
- YTD
- 1.77%
- 6M
- 1.98%
- 1Y
- 7.30%
- 3Y*
- 3.87%
- 5Y*
- 0.87%
- 10Y*
- 2.02%
QQQX
- 1D
- -0.42%
- 1M
- -0.11%
- YTD
- 9.72%
- 6M
- 10.69%
- 1Y
- 29.13%
- 3Y*
- 15.64%
- 5Y*
- 8.85%
- 10Y*
- 13.67%
FWIAX vs. QQQX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FWIAX Nuveen Wisconsin Municipal Bond Fund | 1.77% | 4.11% | 1.72% | 5.26% | -9.59% | 4.28% | 3.63% | 7.75% | 1.82% | 5.13% |
QQQX Nuveen Nasdaq 100 Dynamic Overwrite Fund | 9.72% | 14.87% | 25.61% | 21.68% | -27.39% | 25.32% | 15.75% | 28.83% | -11.68% | 39.19% |
Correlation
The correlation between FWIAX and QQQX is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2007 | -0.06 |
The correlation between FWIAX and QQQX shifts across timeframes, from -0.06 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FWIAX vs. QQQX — Risk / Return Rank
FWIAX
QQQX
FWIAX vs. QQQX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Wisconsin Municipal Bond Fund (FWIAX) and Nuveen Nasdaq 100 Dynamic Overwrite Fund (QQQX). 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.
| FWIAX | QQQX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.49 | ||
| Sortino ratioReturn per unit of downside risk | +1.33 | ||
| Omega ratioGain probability vs. loss probability | 1.63 | 1.36 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 2.92 | 3.21 | -0.29 |
| Martin ratioReturn relative to average drawdown | 9.13 | 13.97 | -4.84 |
Loading charts...
Drawdowns
FWIAX vs. QQQX - Drawdown Comparison
The maximum FWIAX drawdown since its inception was -15.05%, smaller than the maximum QQQX drawdown of -57.25%. Use the drawdown chart below to compare losses from any high point for FWIAX and QQQX.
Loading charts...
Drawdown Indicators
| FWIAX | QQQX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.05% | -57.25% | +42.20% |
Max Drawdown (1Y)Largest decline over 1 year | -2.52% | -9.11% | +6.59% |
Max Drawdown (3Y)Largest decline over 3 years | -10.67% | -22.80% | +12.13% |
Max Drawdown (5Y)Largest decline over 5 years | -15.05% | -29.33% | +14.28% |
Max Drawdown (10Y)Largest decline over 10 years | -15.05% | -35.96% | +20.91% |
Current DrawdownCurrent decline from peak | 0.00% | -3.61% | +3.61% |
Average DrawdownAverage peak-to-trough decline | -2.27% | -8.01% | +5.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.80% | 2.09% | -1.29% |
Volatility
FWIAX vs. QQQX - Volatility Comparison
The current volatility for Nuveen Wisconsin Municipal Bond Fund (FWIAX) is 0.77%, while Nuveen Nasdaq 100 Dynamic Overwrite Fund (QQQX) has a volatility of 5.70%. This indicates that FWIAX experiences smaller price fluctuations and is considered to be less risky than QQQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FWIAX | QQQX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.77% | 5.70% | -4.93% |
Volatility (6M)Calculated over the trailing 6-month period | 1.99% | 12.36% | -10.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.01% | 15.01% | -12.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.37% | 19.92% | -14.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.82% | 21.12% | -16.30% |
FWIAX vs. QQQX - Expense Ratio Comparison
FWIAX has a 0.84% expense ratio, which is lower than QQQX's 0.89% expense ratio.
Dividends
FWIAX vs. QQQX - Dividend Comparison
FWIAX's dividend yield for the trailing twelve months is around 3.38%, less than QQQX's 8.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FWIAX Nuveen Wisconsin Municipal Bond Fund | 3.38% | 3.66% | 3.28% | 3.30% | 3.32% | 2.91% | 2.79% | 3.03% | 3.21% | 3.17% | 3.50% | 3.59% |
QQQX Nuveen Nasdaq 100 Dynamic Overwrite Fund | 8.28% | 7.85% | 6.73% | 7.26% | 9.66% | 5.85% | 6.00% | 6.49% | 8.40% | 5.95% | 7.54% | 7.23% |
Frequently Asked Questions
FWIAX and QQQX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QQQX has higher volatility (5.70%) compared to FWIAX (0.77%). In terms of maximum drawdown, FWIAX dropped -15.05% vs QQQX's -57.25%.
FWIAX currently has the higher Sharpe Ratio (2.45 vs 1.95), 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.
Find the right allocation for FWIAX and QQQX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer