JMM vs. BWDTX
JMM (Nuveen Multi-Market Income Fund) and BWDTX (Boyd Watterson Limited Duration Enhanced Income Fund) are both Multisector Bonds funds. Over the past 5 years, JMM returned 0.44%/yr vs 4.22%/yr for BWDTX. At a 0.20 correlation, their price movements are largely independent. JMM charges 0.04%/yr vs 0.40%/yr for BWDTX.
Performance
JMM vs. BWDTX - Performance Comparison
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Returns By Period
In the year-to-date period, JMM achieves a -0.45% return, which is significantly lower than BWDTX's 2.09% return.
JMM
- 1D
- -0.34%
- 1M
- 0.65%
- 6M
- -2.14%
- YTD
- -0.45%
- 1Y
- -3.84%
- 3Y*
- 5.95%
- 5Y*
- 0.44%
- 10Y*
- 2.89%
BWDTX
- 1D
- 0.10%
- 1M
- 0.20%
- 6M
- 1.89%
- YTD
- 2.09%
- 1Y
- 5.66%
- 3Y*
- 6.28%
- 5Y*
- 4.22%
- 10Y*
- —
JMM vs. BWDTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JMM Nuveen Multi-Market Income Fund | -0.45% | 5.61% | 8.15% | 6.57% | -17.95% | 10.53% | 1.77% | 13.56% | -5.37% | 10.58% |
BWDTX Boyd Watterson Limited Duration Enhanced Income Fund | 2.09% | 7.14% | 4.92% | 9.80% | -3.16% | 2.32% | 4.66% | 7.94% | -0.51% | 4.08% |
Correlation
The correlation between JMM and BWDTX is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Aug 2, 2016 | 0.20 |
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Return for Risk
JMM vs. BWDTX — Risk / Return Rank
JMM
BWDTX
JMM vs. BWDTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Multi-Market Income Fund (JMM) and Boyd Watterson Limited Duration Enhanced Income Fund (BWDTX). 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.
| JMM | BWDTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.70 | ||
| Sortino ratioReturn per unit of downside risk | -7.70 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 2.22 | -1.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.47 | 5.70 | -6.17 |
| Martin ratioReturn relative to average drawdown | -0.89 | 28.79 | -29.68 |
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Drawdowns
JMM vs. BWDTX - Drawdown Comparison
The maximum JMM drawdown since its inception was -48.15%, which is greater than BWDTX's maximum drawdown of -10.06%. Use the drawdown chart below to compare losses from any high point for JMM and BWDTX.
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Drawdown Indicators
| JMM | BWDTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.15% | -10.06% | -38.09% |
Max Drawdown (1Y)Largest decline over 1 year | -8.28% | -1.00% | -7.28% |
Max Drawdown (3Y)Largest decline over 3 years | -9.92% | -2.21% | -7.71% |
Max Drawdown (5Y)Largest decline over 5 years | -24.19% | -6.35% | -17.84% |
Max Drawdown (10Y)Largest decline over 10 years | -26.48% | — | — |
Current DrawdownCurrent decline from peak | -5.46% | 0.00% | -5.46% |
Average DrawdownAverage peak-to-trough decline | -14.08% | -0.67% | -13.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.35% | 0.20% | +4.15% |
Volatility
JMM vs. BWDTX - Volatility Comparison
Nuveen Multi-Market Income Fund (JMM) has a higher volatility of 1.75% compared to Boyd Watterson Limited Duration Enhanced Income Fund (BWDTX) at 0.38%. This indicates that JMM's price experiences larger fluctuations and is considered to be riskier than BWDTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JMM | BWDTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.75% | 0.38% | +1.37% |
Volatility (6M)Calculated over the trailing 6-month period | 8.18% | 1.07% | +7.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.37% | 1.31% | +10.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.41% | 2.21% | +11.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.90% | 2.20% | +11.70% |
JMM vs. BWDTX - Expense Ratio Comparison
JMM has a 0.04% expense ratio, which is lower than BWDTX's 0.40% expense ratio.
Dividends
JMM vs. BWDTX - Dividend Comparison
JMM's dividend yield for the trailing twelve months is around 5.99%, more than BWDTX's 5.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BWDTX Boyd Watterson Limited Duration Enhanced Income Fund | 5.64% | 5.70% | 4.13% | 5.51% | 3.80% | 3.20% | 3.18% | 3.47% | 4.18% | 2.90% | 1.35% | 0.00% |
JMM Nuveen Multi-Market Income Fund | 5.99% | 5.76% | 5.48% | 5.58% | 6.13% | 4.60% | 4.49% | 4.86% | 5.34% | 5.63% | 6.19% | 6.76% |
Frequently Asked Questions
JMM and BWDTX have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JMM has higher volatility (1.75%) compared to BWDTX (0.38%). In terms of maximum drawdown, JMM dropped -48.15% vs BWDTX's -10.06%.
BWDTX currently has the higher Sharpe Ratio (4.35 vs -0.34), 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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