MFM vs. NZF
Compare and contrast key facts about MFS Municipal Income Trust (MFM) and Nuveen Municipal Credit Income Fund (NZF).
NZF is a passively managed fund by Nuveen that tracks the performance of the S&P National Municipal Bond Index. It was launched on Mar 21, 2001.
Performance
MFM vs. NZF - Performance Comparison
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MFM vs. NZF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MFM MFS Municipal Income Trust | 0.58% | 6.95% | 8.35% | 4.11% | -22.63% | 9.45% | -0.87% | 20.83% | -5.56% | 9.45% |
NZF Nuveen Municipal Credit Income Fund | -1.35% | 11.78% | 10.09% | 2.49% | -25.53% | 11.19% | 3.58% | 28.33% | -6.79% | 14.48% |
Returns By Period
In the year-to-date period, MFM achieves a 0.58% return, which is significantly higher than NZF's -1.35% return. Over the past 10 years, MFM has underperformed NZF with an annualized return of 2.01%, while NZF has yielded a comparatively higher 3.66% annualized return.
MFM
- 1D
- 3.26%
- 1M
- -3.15%
- YTD
- 0.58%
- 6M
- 2.68%
- 1Y
- 7.30%
- 3Y*
- 5.22%
- 5Y*
- -0.19%
- 10Y*
- 2.01%
NZF
- 1D
- 2.61%
- 1M
- -5.35%
- YTD
- -1.35%
- 6M
- 0.69%
- 1Y
- 7.63%
- 3Y*
- 7.56%
- 5Y*
- 0.18%
- 10Y*
- 3.66%
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Return for Risk
MFM vs. NZF — Risk / Return Rank
MFM
NZF
MFM vs. NZF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MFS Municipal Income Trust (MFM) and Nuveen Municipal Credit Income Fund (NZF). 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.
| MFM | NZF | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.65 | 0.66 | -0.02 |
Sortino ratioReturn per unit of downside risk | 0.98 | 1.01 | -0.02 |
Omega ratioGain probability vs. loss probability | 1.13 | 1.13 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | 1.00 | 1.09 | -0.08 |
Martin ratioReturn relative to average drawdown | 2.72 | 3.61 | -0.89 |
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
| MFM | NZF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.65 | 0.66 | -0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.01 | 0.01 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.14 | 0.28 | -0.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 0.36 | -0.16 |
Correlation
The correlation between MFM and NZF is 0.40, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
MFM vs. NZF - Dividend Comparison
MFM's dividend yield for the trailing twelve months is around 5.26%, less than NZF's 7.83% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MFM MFS Municipal Income Trust | 5.26% | 5.08% | 4.65% | 4.12% | 4.85% | 4.34% | 4.70% | 4.71% | 5.91% | 5.61% | 5.72% | 5.76% |
NZF Nuveen Municipal Credit Income Fund | 7.83% | 7.58% | 6.84% | 4.51% | 5.80% | 4.63% | 4.74% | 4.82% | 6.05% | 5.86% | 6.26% | 5.50% |
Drawdowns
MFM vs. NZF - Drawdown Comparison
The maximum MFM drawdown since its inception was -54.24%, which is greater than NZF's maximum drawdown of -48.55%. Use the drawdown chart below to compare losses from any high point for MFM and NZF.
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Drawdown Indicators
| MFM | NZF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.24% | -48.55% | -5.69% |
Max Drawdown (1Y)Largest decline over 1 year | -7.26% | -8.18% | +0.92% |
Max Drawdown (5Y)Largest decline over 5 years | -34.39% | -37.42% | +3.03% |
Max Drawdown (10Y)Largest decline over 10 years | -34.39% | -37.42% | +3.03% |
Current DrawdownCurrent decline from peak | -9.50% | -8.18% | -1.32% |
Average DrawdownAverage peak-to-trough decline | -8.95% | -7.79% | -1.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.68% | 2.46% | +0.22% |
Volatility
MFM vs. NZF - Volatility Comparison
MFS Municipal Income Trust (MFM) and Nuveen Municipal Credit Income Fund (NZF) have volatilities of 4.49% and 4.70%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MFM | NZF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.49% | 4.70% | -0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 7.85% | 7.66% | +0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.34% | 11.63% | -0.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.08% | 12.22% | +1.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.84% | 13.02% | +1.82% |