MAMTX vs. NMTRX
MAMTX (Blackrock Strategic Municipal Opportunities Fund Of Blackrock Municipal Series Trust) and NMTRX (Nuveen Municipal Total Return Managed Accounts) are both Municipal Bonds funds from BlackRock. Over the past 10 years, MAMTX returned 2.14%/yr vs 2.36%/yr for NMTRX. A 0.68 correlation means they provide meaningful diversification when combined. MAMTX charges 0.55%/yr vs 0.05%/yr for NMTRX.
Performance
MAMTX vs. NMTRX - Performance Comparison
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Returns By Period
In the year-to-date period, MAMTX achieves a 2.14% return, which is significantly lower than NMTRX's 2.47% return. Over the past 10 years, MAMTX has underperformed NMTRX with an annualized return of 2.14%, while NMTRX has yielded a comparatively higher 2.36% annualized return.
MAMTX
- 1D
- 0.00%
- 1M
- 0.90%
- YTD
- 2.14%
- 6M
- 2.48%
- 1Y
- 7.22%
- 3Y*
- 4.34%
- 5Y*
- 0.61%
- 10Y*
- 2.14%
NMTRX
- 1D
- 0.00%
- 1M
- 0.90%
- YTD
- 2.47%
- 6M
- 2.88%
- 1Y
- 8.18%
- 3Y*
- 4.20%
- 5Y*
- 0.50%
- 10Y*
- 2.36%
MAMTX vs. NMTRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MAMTX Blackrock Strategic Municipal Opportunities Fund Of Blackrock Municipal Series Trust | 2.14% | 3.97% | 3.90% | 4.89% | -12.11% | 5.84% | 0.58% | 6.81% | 1.27% | 8.05% |
NMTRX Nuveen Municipal Total Return Managed Accounts | 2.47% | 3.90% | 1.99% | 6.21% | -11.98% | 2.69% | 5.25% | 9.26% | 1.06% | 7.41% |
Correlation
The correlation between MAMTX and NMTRX is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Jun 1, 2007 | 0.68 |
The correlation between MAMTX and NMTRX shifts across timeframes, from 0.66 (10 years) to 0.78 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
MAMTX vs. NMTRX — Risk / Return Rank
MAMTX
NMTRX
MAMTX vs. NMTRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Blackrock Strategic Municipal Opportunities Fund Of Blackrock Municipal Series Trust (MAMTX) and Nuveen Municipal Total Return Managed Accounts (NMTRX). 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.
| MAMTX | NMTRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -1.10 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.71 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.58 | 3.23 | -0.65 |
| Martin ratioReturn relative to average drawdown | 8.67 | 11.87 | -3.20 |
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
| MAMTX | NMTRX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.32 | 2.84 | -0.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.13 | 0.12 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | 0.54 | -0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.19 | 1.00 | +0.20 |
Drawdowns
MAMTX vs. NMTRX - Drawdown Comparison
The maximum MAMTX drawdown since its inception was -16.83%, roughly equal to the maximum NMTRX drawdown of -16.36%. Use the drawdown chart below to compare losses from any high point for MAMTX and NMTRX.
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Drawdown Indicators
| MAMTX | NMTRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.83% | -16.36% | -0.47% |
Max Drawdown (1Y)Largest decline over 1 year | -2.85% | -2.65% | -0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -6.33% | -5.77% | -0.56% |
Max Drawdown (5Y)Largest decline over 5 years | -16.83% | -16.36% | -0.47% |
Max Drawdown (10Y)Largest decline over 10 years | -16.83% | -16.36% | -0.47% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -2.06% | -2.91% | +0.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.85% | 0.72% | +0.13% |
Volatility
MAMTX vs. NMTRX - Volatility Comparison
The current volatility for Blackrock Strategic Municipal Opportunities Fund Of Blackrock Municipal Series Trust (MAMTX) is 1.13%, while Nuveen Municipal Total Return Managed Accounts (NMTRX) has a volatility of 1.25%. This indicates that MAMTX experiences smaller price fluctuations and is considered to be less risky than NMTRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MAMTX | NMTRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | 1.25% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 2.27% | 2.25% | +0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.17% | 3.01% | +0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.78% | 4.03% | +0.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.84% | 4.40% | +0.44% |
MAMTX vs. NMTRX - Expense Ratio Comparison
MAMTX has a 0.55% expense ratio, which is higher than NMTRX's 0.05% expense ratio.
Dividends
MAMTX vs. NMTRX - Dividend Comparison
MAMTX's dividend yield for the trailing twelve months is around 3.90%, less than NMTRX's 4.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MAMTX Blackrock Strategic Municipal Opportunities Fund Of Blackrock Municipal Series Trust | 3.90% | 5.00% | 4.23% | 2.70% | 1.96% | 2.00% | 2.39% | 2.83% | 4.74% | 2.89% | 3.91% | 2.84% |
NMTRX Nuveen Municipal Total Return Managed Accounts | 4.58% | 4.46% | 3.55% | 3.67% | 3.28% | 2.73% | 2.92% | 3.20% | 3.47% | 3.28% | 3.71% | 3.91% |
Frequently Asked Questions
MAMTX and NMTRX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NMTRX has higher volatility (1.25%) compared to MAMTX (1.13%). In terms of maximum drawdown, MAMTX dropped -16.83% vs NMTRX's -16.36%.
NMTRX currently has the higher Sharpe Ratio (2.84 vs 2.32), 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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