JQC vs. FKYTX

Last updated Jun 3, 2026

JQC (Nuveen Credit Strategies Income Fund) and FKYTX (Nuveen Kentucky Municipal Bond Fund) are both mutual funds - JQC is a Bank Loan fund managed by Nuveen, while FKYTX is a Municipal Bonds fund managed by Nuveen. Over the past 10 years, JQC returned 5.86%/yr vs 1.63%/yr for FKYTX. At a 0.02 correlation, their price movements are largely independent. JQC charges 4.34%/yr vs 0.77%/yr for FKYTX.

Performance

JQC vs. FKYTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Credit Strategies Income Fund (JQC) and Nuveen Kentucky Municipal Bond Fund (FKYTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JQC achieves a 1.57% return, which is significantly higher than FKYTX's 0.79% return. Over the past 10 years, JQC has outperformed FKYTX with an annualized return of 5.86%, while FKYTX has yielded a comparatively lower 1.63% annualized return.

JQC

• 1D: 0.21%
• 1M: 1.03%
• YTD: 1.57%
• 6M: 1.46%
• 1Y: 3.75%
• 3Y*: 12.04%
• 5Y*: 4.89%
• 10Y*: 5.86%

FKYTX

• 1D: 0.00%
• 1M: 0.38%
• YTD: 0.79%
• 6M: 1.27%
• 1Y: 7.35%
• 3Y*: 3.18%
• 5Y*: 0.14%
• 10Y*: 1.63%

*Multi-year figures are annualized to reflect compound growth (CAGR)

JQC vs. FKYTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JQC Nuveen Credit Strategies Income Fund	1.57%	-0.36%	22.29%	15.26%	-14.22%	13.29%	-2.96%	21.78%	-4.33%	-0.27%
FKYTX Nuveen Kentucky Municipal Bond Fund	0.79%	3.34%	1.09%	6.57%	-10.85%	2.24%	4.24%	7.35%	0.75%	4.26%

Correlation

The correlation between JQC and FKYTX is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (5Y) Calculated over the trailing 5-year period	0.08
Correlation (10Y) Calculated over the trailing 10-year period	0.04
Correlation (All Time) Calculated using the full available price history since Jun 27, 2003	0.02

Return for Risk

JQC vs. FKYTX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JQC

JQC Risk / Return Rank: 4
JQC Sharpe Ratio Rank: 4
JQC Sortino Ratio Rank: 4
JQC Omega Ratio Rank: 4
JQC Calmar Ratio Rank: 5
JQC Martin Ratio Rank: 4

FKYTX

FKYTX Risk / Return Rank: 53
FKYTX Sharpe Ratio Rank: 55
FKYTX Sortino Ratio Rank: 65
FKYTX Omega Ratio Rank: 79
FKYTX Calmar Ratio Rank: 35
FKYTX Martin Ratio Rank: 31

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JQC vs. FKYTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Credit Strategies Income Fund (JQC) and Nuveen Kentucky Municipal Bond Fund (FKYTX). 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.

	JQC	FKYTX	Difference
Sharpe ratio Return per unit of total volatility	0.34	2.19	-1.85
Sortino ratio Return per unit of downside risk	0.56	3.38	-2.82
Omega ratio Gain probability vs. loss probability	1.07	1.52	-0.45
Calmar ratio Return relative to maximum drawdown	0.47	2.25	-1.78
Martin ratio Return relative to average drawdown	0.94	7.15	-6.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JQC vs. FKYTX - Sharpe Ratio Comparison

The current JQC Sharpe Ratio is 0.34, which is lower than the FKYTX Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of JQC and FKYTX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JQC	FKYTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.34	2.19	-1.85
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	0.03	+0.34
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	0.39	-0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	1.15	-0.92

Drawdowns

JQC vs. FKYTX - Drawdown Comparison

The maximum JQC drawdown since its inception was -75.18%, which is greater than FKYTX's maximum drawdown of -15.24%. Use the drawdown chart below to compare losses from any high point for JQC and FKYTX.

Drawdown Indicators

	JQC	FKYTX	Difference
Max Drawdown Largest peak-to-trough decline	-75.18%	-15.24%	-59.94%
Max Drawdown (1Y) Largest decline over 1 year	-10.15%	-3.19%	-6.96%
Max Drawdown (3Y) Largest decline over 3 years	-15.37%	-7.34%	-8.03%
Max Drawdown (5Y) Largest decline over 5 years	-19.83%	-15.24%	-4.59%
Max Drawdown (10Y) Largest decline over 10 years	-47.99%	-15.24%	-32.75%
Current Drawdown Current decline from peak	-4.55%	-0.95%	-3.60%
Average Drawdown Average peak-to-trough decline	-8.82%	-1.91%	-6.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.02%	1.00%	+4.02%

Volatility

JQC vs. FKYTX - Volatility Comparison

Nuveen Credit Strategies Income Fund (JQC) has a higher volatility of 2.16% compared to Nuveen Kentucky Municipal Bond Fund (FKYTX) at 1.22%. This indicates that JQC's price experiences larger fluctuations and is considered to be riskier than FKYTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JQC	FKYTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.16%	1.22%	+0.94%
Volatility (6M) Calculated over the trailing 6-month period	8.76%	2.28%	+6.48%
Volatility (1Y) Calculated over the trailing 1-year period	11.11%	3.23%	+7.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.17%	4.54%	+8.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.56%	4.23%	+13.33%

JQC vs. FKYTX - Expense Ratio Comparison

JQC has a 4.34% expense ratio, which is higher than FKYTX's 0.77% expense ratio.

Dividends

JQC vs. FKYTX - Dividend Comparison

JQC's dividend yield for the trailing twelve months is around 13.11%, more than FKYTX's 2.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FKYTX Nuveen Kentucky Municipal Bond Fund	2.93%	3.02%	2.70%	2.63%	2.72%	2.58%	2.58%	2.98%	3.17%	3.52%	3.73%	3.61%
JQC Nuveen Credit Strategies Income Fund	13.11%	12.91%	11.39%	11.42%	9.71%	10.03%	16.11%	16.14%	6.53%	7.42%	6.99%	7.51%

Frequently Asked Questions

Can I hold both JQC and FKYTX in my portfolio?

JQC and FKYTX have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JQC or FKYTX?

JQC has higher volatility (2.16%) compared to FKYTX (1.22%). In terms of maximum drawdown, JQC dropped -75.18% vs FKYTX's -15.24%.

Which has better risk-adjusted returns?

FKYTX currently has the higher Sharpe Ratio (2.19 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.