GWMEX vs. NVHIX
Compare and contrast key facts about AMG GW&K Municipal Enhanced Yield Fund (GWMEX) and Nuveen Short Duration High Yield Municipal Bond Fund (NVHIX).
GWMEX is managed by AMG. It was launched on Dec 29, 2005. NVHIX is managed by Nuveen. It was launched on Jan 31, 2013.
Performance
GWMEX vs. NVHIX - Performance Comparison
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GWMEX vs. NVHIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GWMEX AMG GW&K Municipal Enhanced Yield Fund | -1.47% | 2.50% | 2.61% | 10.89% | -17.86% | 15.05% | 6.32% | 12.51% | -0.06% | 9.79% |
NVHIX Nuveen Short Duration High Yield Municipal Bond Fund | -0.04% | 2.43% | 6.88% | 3.54% | -6.73% | 8.44% | -0.10% | 8.27% | 3.47% | 8.17% |
Returns By Period
In the year-to-date period, GWMEX achieves a -1.47% return, which is significantly lower than NVHIX's -0.04% return. Over the past 10 years, GWMEX has outperformed NVHIX with an annualized return of 3.39%, while NVHIX has yielded a comparatively lower 3.17% annualized return.
GWMEX
- 1D
- 0.35%
- 1M
- -3.61%
- YTD
- -1.47%
- 6M
- 0.39%
- 1Y
- 2.09%
- 3Y*
- 3.07%
- 5Y*
- 1.70%
- 10Y*
- 3.39%
NVHIX
- 1D
- 0.00%
- 1M
- -1.79%
- YTD
- -0.04%
- 6M
- 0.91%
- 1Y
- 1.94%
- 3Y*
- 3.86%
- 5Y*
- 2.17%
- 10Y*
- 3.17%
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GWMEX vs. NVHIX - Expense Ratio Comparison
GWMEX has a 0.64% expense ratio, which is higher than NVHIX's 0.55% expense ratio.
Return for Risk
GWMEX vs. NVHIX — Risk / Return Rank
GWMEX
NVHIX
GWMEX vs. NVHIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AMG GW&K Municipal Enhanced Yield Fund (GWMEX) and Nuveen Short Duration High Yield Municipal Bond Fund (NVHIX). 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.
| GWMEX | NVHIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.32 | 0.67 | -0.34 |
Sortino ratioReturn per unit of downside risk | 0.47 | 0.92 | -0.45 |
Omega ratioGain probability vs. loss probability | 1.09 | 1.19 | -0.10 |
Calmar ratioReturn relative to maximum drawdown | 0.30 | 0.68 | -0.38 |
Martin ratioReturn relative to average drawdown | 0.79 | 2.00 | -1.21 |
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
| GWMEX | NVHIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.32 | 0.67 | -0.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.22 | 0.66 | -0.44 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | 0.92 | -0.41 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 1.08 | -0.45 |
Correlation
The correlation between GWMEX and NVHIX is 0.60, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
GWMEX vs. NVHIX - Dividend Comparison
GWMEX's dividend yield for the trailing twelve months is around 3.48%, less than NVHIX's 4.70% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GWMEX AMG GW&K Municipal Enhanced Yield Fund | 3.48% | 3.67% | 3.38% | 3.10% | 3.33% | 13.26% | 3.63% | 4.59% | 5.82% | 2.97% | 7.96% | 4.77% |
NVHIX Nuveen Short Duration High Yield Municipal Bond Fund | 4.70% | 5.15% | 4.36% | 4.41% | 3.84% | 3.43% | 3.90% | 4.03% | 3.90% | 3.78% | 3.62% | 3.55% |
Drawdowns
GWMEX vs. NVHIX - Drawdown Comparison
The maximum GWMEX drawdown since its inception was -36.30%, which is greater than NVHIX's maximum drawdown of -13.54%. Use the drawdown chart below to compare losses from any high point for GWMEX and NVHIX.
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Drawdown Indicators
| GWMEX | NVHIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.30% | -13.54% | -22.76% |
Max Drawdown (1Y)Largest decline over 1 year | -7.14% | -3.63% | -3.51% |
Max Drawdown (5Y)Largest decline over 5 years | -24.06% | -10.54% | -13.52% |
Max Drawdown (10Y)Largest decline over 10 years | -24.06% | -13.54% | -10.52% |
Current DrawdownCurrent decline from peak | -5.69% | -1.79% | -3.90% |
Average DrawdownAverage peak-to-trough decline | -5.72% | -2.06% | -3.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.76% | 1.25% | +1.51% |
Volatility
GWMEX vs. NVHIX - Volatility Comparison
AMG GW&K Municipal Enhanced Yield Fund (GWMEX) has a higher volatility of 1.73% compared to Nuveen Short Duration High Yield Municipal Bond Fund (NVHIX) at 0.63%. This indicates that GWMEX's price experiences larger fluctuations and is considered to be riskier than NVHIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GWMEX | NVHIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.73% | 0.63% | +1.10% |
Volatility (6M)Calculated over the trailing 6-month period | 2.41% | 1.43% | +0.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.30% | 3.77% | +3.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.77% | 3.32% | +4.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.73% | 3.47% | +3.26% |