JMM vs. QQQX
JMM (Nuveen Multi-Market Income Fund) and QQQX (Nuveen Nasdaq 100 Dynamic Overwrite Fund) are both mutual funds - JMM is a Multisector Bonds fund managed by Nuveen, while QQQX is a Derivative Income fund actively managed by Nuveen. Over the past 10 years, JMM returned 2.89%/yr vs 13.24%/yr for QQQX. At a 0.18 correlation, their price movements are largely independent. JMM charges 0.04%/yr vs 0.89%/yr for QQQX.
Performance
JMM vs. QQQX - 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 QQQX's 11.43% return. Over the past 10 years, JMM has underperformed QQQX with an annualized return of 2.89%, while QQQX has yielded a comparatively higher 13.24% annualized 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%
QQQX
- 1D
- -0.78%
- 1M
- 0.73%
- 6M
- 11.86%
- YTD
- 11.43%
- 1Y
- 26.33%
- 3Y*
- 15.43%
- 5Y*
- 9.00%
- 10Y*
- 13.24%
JMM vs. QQQX - 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% |
QQQX Nuveen Nasdaq 100 Dynamic Overwrite Fund | 11.43% | 14.87% | 25.61% | 21.68% | -27.39% | 25.32% | 15.75% | 28.83% | -11.68% | 39.19% |
Correlation
The correlation between JMM 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 | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2007 | 0.18 |
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Return for Risk
JMM vs. QQQX — Risk / Return Rank
JMM
QQQX
JMM vs. QQQX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Multi-Market Income Fund (JMM) 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.
| JMM | QQQX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.02 | ||
| Sortino ratioReturn per unit of downside risk | -2.83 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.31 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.47 | 2.90 | -3.37 |
| Martin ratioReturn relative to average drawdown | -0.89 | 11.18 | -12.07 |
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Drawdowns
JMM vs. QQQX - Drawdown Comparison
The maximum JMM drawdown since its inception was -48.15%, smaller than the maximum QQQX drawdown of -57.25%. Use the drawdown chart below to compare losses from any high point for JMM and QQQX.
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Drawdown Indicators
| JMM | QQQX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.15% | -57.25% | +9.10% |
Max Drawdown (1Y)Largest decline over 1 year | -8.28% | -9.11% | +0.83% |
Max Drawdown (3Y)Largest decline over 3 years | -9.92% | -22.80% | +12.88% |
Max Drawdown (5Y)Largest decline over 5 years | -24.19% | -29.33% | +5.14% |
Max Drawdown (10Y)Largest decline over 10 years | -26.48% | -35.96% | +9.48% |
Current DrawdownCurrent decline from peak | -5.46% | -2.11% | -3.35% |
Average DrawdownAverage peak-to-trough decline | -14.08% | -7.99% | -6.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.35% | 2.36% | +1.99% |
Volatility
JMM vs. QQQX - Volatility Comparison
The current volatility for Nuveen Multi-Market Income Fund (JMM) is 1.75%, while Nuveen Nasdaq 100 Dynamic Overwrite Fund (QQQX) has a volatility of 6.37%. This indicates that JMM 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.
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Volatility by Period
| JMM | QQQX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.75% | 6.37% | -4.62% |
Volatility (6M)Calculated over the trailing 6-month period | 8.18% | 13.30% | -5.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.37% | 15.75% | -4.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.41% | 20.05% | -6.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.90% | 21.13% | -7.23% |
JMM vs. QQQX - Expense Ratio Comparison
JMM has a 0.04% expense ratio, which is lower than QQQX's 0.89% expense ratio.
Dividends
JMM vs. QQQX - Dividend Comparison
JMM's dividend yield for the trailing twelve months is around 5.99%, less than QQQX's 8.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
QQQX Nuveen Nasdaq 100 Dynamic Overwrite Fund | 8.15% | 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
JMM 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 (6.37%) compared to JMM (1.75%). In terms of maximum drawdown, JMM dropped -48.15% vs QQQX's -57.25%.
QQQX currently has the higher Sharpe Ratio (1.68 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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