MISHX vs. NVHIX
MISHX (AB Municipal Income Shares) and NVHIX (Nuveen Short Duration High Yield Municipal Bond Fund) are both High Yield Muni funds. Over the past 10 years, MISHX returned 3.37%/yr vs 3.07%/yr for NVHIX. Their 0.65 correlation means they have sometimes moved together and sometimes differently. MISHX charges 0.00%/yr vs 0.55%/yr for NVHIX.
Performance
MISHX vs. NVHIX - Performance Comparison
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Returns By Period
In the year-to-date period, MISHX achieves a 0.89% return, which is significantly lower than NVHIX's 1.56% return. Over the past 10 years, MISHX has outperformed NVHIX with an annualized return of 3.37%, while NVHIX has yielded a comparatively lower 3.07% annualized return.
MISHX
- 1D
- 0.18%
- 1M
- -1.57%
- 6M
- 0.80%
- YTD
- 0.89%
- 1Y
- 7.34%
- 3Y*
- 5.26%
- 5Y*
- 1.09%
- 10Y*
- 3.37%
- ALL TIME*
- 4.31%
NVHIX
- 1D
- 0.11%
- 1M
- -0.47%
- 6M
- 1.23%
- YTD
- 1.56%
- 1Y
- 5.52%
- 3Y*
- 4.21%
- 5Y*
- 1.70%
- 10Y*
- 3.07%
- ALL TIME*
- 3.46%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
MISHX vs. NVHIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MISHX AB Municipal Income Shares | 0.89% | 6.41% | 5.29% | 6.24% | -12.77% | 6.81% | 6.22% | 11.52% | 0.80% | 9.59% |
NVHIX Nuveen Short Duration High Yield Municipal Bond Fund | 1.56% | 2.43% | 6.88% | 3.54% | -6.73% | 8.44% | -0.10% | 8.27% | 3.47% | 8.17% |
Correlation
The correlation between MISHX and NVHIX is 0.69, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.69 |
Correlation (3Y) Balances recent behavior with more history. | 0.69 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.71 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.68 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2013 | 0.65 |
The correlation between MISHX and NVHIX has been stable across timeframes, ranging from 0.65 to 0.71 - a consistent structural relationship.
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Return for Risk
MISHX vs. NVHIX — Risk / Return Rank
MISHX
NVHIX
MISHX vs. NVHIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AB Municipal Income Shares (MISHX) and Nuveen Short Duration High Yield Municipal Bond Fund (NVHIX). 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.
| MISHX | NVHIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -1.28 | ||
| Omega ratioGain probability vs. loss probability | 1.56 | 1.81 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 2.38 | 3.11 | -0.73 |
| Martin ratioReturn relative to average drawdown | 8.58 | 10.20 | -1.61 |
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Drawdowns
MISHX vs. NVHIX - Drawdown Comparison
The maximum MISHX drawdown since its inception was -19.03%, which is greater than NVHIX's maximum drawdown of -13.54%. Use the drawdown chart below to compare losses from any high point for MISHX and NVHIX.
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Drawdown Indicators
| MISHX | NVHIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.03% | -13.54% | -5.49% |
Max Drawdown (1Y)Largest decline over 1 year | -3.09% | -1.79% | -1.30% |
Max Drawdown (3Y)Largest decline over 3 years | -7.54% | -4.72% | -2.82% |
Max Drawdown (5Y)Largest decline over 5 years | -18.20% | -10.54% | -7.66% |
Max Drawdown (10Y)Largest decline over 10 years | -19.03% | -13.54% | -5.49% |
Current DrawdownCurrent decline from peak | -2.14% | -1.06% | -1.08% |
Average DrawdownAverage peak-to-trough decline | -3.38% | -2.02% | -1.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.86% | 0.54% | +0.32% |
Volatility
MISHX vs. NVHIX - Volatility Comparison
AB Municipal Income Shares (MISHX) has a higher volatility of 1.07% compared to Nuveen Short Duration High Yield Municipal Bond Fund (NVHIX) at 0.76%. This indicates that MISHX's price experiences larger fluctuations and is considered to be riskier than NVHIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MISHX | NVHIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.07% | 0.76% | +0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 2.63% | 1.59% | +1.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.29% | 2.15% | +1.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.02% | 3.34% | +1.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.19% | 3.47% | +1.72% |
MISHX vs. NVHIX - Expense Ratio Comparison
MISHX has a 0.00% expense ratio, which is lower than NVHIX's 0.55% expense ratio.
Dividends
MISHX vs. NVHIX - Dividend Comparison
MISHX's dividend yield for the trailing twelve months is around 4.91%, more than NVHIX's 4.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MISHX AB Municipal Income Shares | 4.91% | 6.23% | 4.80% | 3.23% | 3.75% | 2.77% | 3.56% | 3.98% | 3.77% | 3.78% | 4.25% | 4.38% |
NVHIX Nuveen Short Duration High Yield Municipal Bond Fund | 4.53% | 5.15% | 4.36% | 4.41% | 3.84% | 3.43% | 3.90% | 4.03% | 3.90% | 3.78% | 3.62% | 3.55% |
Frequently Asked Questions
MISHX and NVHIX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MISHX has higher volatility (1.07%) compared to NVHIX (0.76%). In terms of maximum drawdown, MISHX dropped -19.03% vs NVHIX's -13.54%.
NVHIX currently has the higher Sharpe Ratio (2.59 vs 2.24), 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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