JPICX vs. NMI
Compare and contrast key facts about JPMorgan California Tax Free Bond Fund (JPICX) and Nuveen Municipal Income Fund, Inc. (NMI).
JPICX is managed by JPMorgan. It was launched on Dec 22, 1996. NMI is managed by Nuveen. It was launched on Apr 20, 1998.
Performance
JPICX vs. NMI - Performance Comparison
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JPICX vs. NMI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JPICX JPMorgan California Tax Free Bond Fund | -0.49% | 3.38% | 1.51% | 4.92% | -6.54% | -0.12% | 4.10% | 5.74% | 1.19% | 3.64% |
NMI Nuveen Municipal Income Fund, Inc. | 5.52% | 10.52% | 7.03% | 1.90% | -15.09% | 3.86% | 4.70% | 16.02% | -8.07% | 7.49% |
Returns By Period
In the year-to-date period, JPICX achieves a -0.49% return, which is significantly lower than NMI's 5.52% return. Over the past 10 years, JPICX has underperformed NMI with an annualized return of 1.45%, while NMI has yielded a comparatively higher 2.30% annualized return.
JPICX
- 1D
- 0.30%
- 1M
- -2.08%
- YTD
- -0.49%
- 6M
- 0.72%
- 1Y
- 3.16%
- 3Y*
- 2.36%
- 5Y*
- 0.67%
- 10Y*
- 1.45%
NMI
- 1D
- -0.86%
- 1M
- 3.79%
- YTD
- 5.52%
- 6M
- 6.73%
- 1Y
- 10.11%
- 3Y*
- 8.16%
- 5Y*
- 2.04%
- 10Y*
- 2.30%
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JPICX vs. NMI - Expense Ratio Comparison
JPICX has a 0.70% expense ratio, which is lower than NMI's 0.72% expense ratio.
Return for Risk
JPICX vs. NMI — Risk / Return Rank
JPICX
NMI
JPICX vs. NMI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan California Tax Free Bond Fund (JPICX) and Nuveen Municipal Income Fund, Inc. (NMI). 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.
| JPICX | NMI | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.96 | 0.84 | +0.12 |
Sortino ratioReturn per unit of downside risk | 1.27 | 1.49 | -0.22 |
Omega ratioGain probability vs. loss probability | 1.26 | 1.21 | +0.05 |
Calmar ratioReturn relative to maximum drawdown | 1.02 | 1.17 | -0.15 |
Martin ratioReturn relative to average drawdown | 3.65 | 2.37 | +1.28 |
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
| JPICX | NMI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.96 | 0.84 | +0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.24 | 0.15 | +0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | 0.16 | +0.29 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.18 | 0.34 | +0.84 |
Correlation
The correlation between JPICX and NMI is 0.15, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
JPICX vs. NMI - Dividend Comparison
JPICX's dividend yield for the trailing twelve months is around 3.02%, less than NMI's 4.40% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JPICX JPMorgan California Tax Free Bond Fund | 3.02% | 3.00% | 3.01% | 2.55% | 2.03% | 1.54% | 1.70% | 2.35% | 2.80% | 2.73% | 2.66% | 3.16% |
NMI Nuveen Municipal Income Fund, Inc. | 4.40% | 4.59% | 4.63% | 4.04% | 3.51% | 3.22% | 3.53% | 4.15% | 5.12% | 4.21% | 4.45% | 4.28% |
Drawdowns
JPICX vs. NMI - Drawdown Comparison
The maximum JPICX drawdown since its inception was -10.59%, smaller than the maximum NMI drawdown of -28.92%. Use the drawdown chart below to compare losses from any high point for JPICX and NMI.
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Drawdown Indicators
| JPICX | NMI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.59% | -28.92% | +18.33% |
Max Drawdown (1Y)Largest decline over 1 year | -3.61% | -8.71% | +5.10% |
Max Drawdown (5Y)Largest decline over 5 years | -10.53% | -28.92% | +18.39% |
Max Drawdown (10Y)Largest decline over 10 years | -10.59% | -28.92% | +18.33% |
Current DrawdownCurrent decline from peak | -2.27% | -0.86% | -1.41% |
Average DrawdownAverage peak-to-trough decline | -1.43% | -5.93% | +4.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.01% | 4.31% | -3.30% |
Volatility
JPICX vs. NMI - Volatility Comparison
The current volatility for JPMorgan California Tax Free Bond Fund (JPICX) is 1.06%, while Nuveen Municipal Income Fund, Inc. (NMI) has a volatility of 5.78%. This indicates that JPICX experiences smaller price fluctuations and is considered to be less risky than NMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPICX | NMI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | 5.78% | -4.72% |
Volatility (6M)Calculated over the trailing 6-month period | 1.42% | 7.44% | -6.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.64% | 12.11% | -8.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.84% | 13.59% | -10.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.25% | 14.60% | -11.35% |