MMU vs. NMS
Compare and contrast key facts about Western Asset Managed Municipals Fund Inc (MMU) and Nuveen Minnesota Quality Municipal Income Fund (NMS).
MMU is managed by Franklin Templeton. It was launched on Jun 26, 1992. NMS is managed by Nuveen. It was launched on Jun 25, 1993.
Performance
MMU vs. NMS - Performance Comparison
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MMU vs. NMS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MMU Western Asset Managed Municipals Fund Inc | 0.03% | 9.19% | 6.58% | 5.63% | -19.58% | 5.83% | 0.71% | 10.08% | -4.55% | 8.30% |
NMS Nuveen Minnesota Quality Municipal Income Fund | 5.76% | 2.10% | 19.59% | 1.57% | -21.89% | 5.47% | 5.80% | 25.72% | -13.31% | -1.58% |
Returns By Period
In the year-to-date period, MMU achieves a 0.03% return, which is significantly lower than NMS's 5.76% return. Over the past 10 years, MMU has underperformed NMS with an annualized return of 1.38%, while NMS has yielded a comparatively higher 2.13% annualized return.
MMU
- 1D
- 3.11%
- 1M
- -2.96%
- YTD
- 0.03%
- 6M
- 2.59%
- 1Y
- 6.56%
- 3Y*
- 6.02%
- 5Y*
- 0.40%
- 10Y*
- 1.38%
NMS
- 1D
- 1.12%
- 1M
- 0.47%
- YTD
- 5.76%
- 6M
- 5.82%
- 1Y
- 9.04%
- 3Y*
- 6.52%
- 5Y*
- 1.26%
- 10Y*
- 2.13%
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MMU vs. NMS - Expense Ratio Comparison
MMU has a 0.01% expense ratio, which is lower than NMS's 0.03% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
MMU vs. NMS — Risk / Return Rank
MMU
NMS
MMU vs. NMS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Western Asset Managed Municipals Fund Inc (MMU) and Nuveen Minnesota Quality Municipal Income Fund (NMS). 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.
| MMU | NMS | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.72 | 1.01 | -0.30 |
Sortino ratioReturn per unit of downside risk | 1.09 | 1.44 | -0.36 |
Omega ratioGain probability vs. loss probability | 1.14 | 1.20 | -0.06 |
Calmar ratioReturn relative to maximum drawdown | 0.95 | 1.78 | -0.82 |
Martin ratioReturn relative to average drawdown | 3.03 | 3.74 | -0.71 |
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
| MMU | NMS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.72 | 1.01 | -0.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | 0.09 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.11 | 0.15 | -0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.22 | +0.15 |
Correlation
The correlation between MMU and NMS is 0.23, 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
MMU vs. NMS - Dividend Comparison
MMU's dividend yield for the trailing twelve months is around 6.36%, less than NMS's 6.83% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MMU Western Asset Managed Municipals Fund Inc | 6.36% | 6.26% | 6.16% | 4.36% | 4.65% | 3.88% | 4.21% | 4.96% | 5.68% | 5.37% | 5.67% | 5.50% |
NMS Nuveen Minnesota Quality Municipal Income Fund | 6.83% | 7.29% | 6.05% | 4.03% | 5.24% | 4.19% | 3.93% | 4.05% | 5.52% | 5.20% | 4.68% | 5.60% |
Drawdowns
MMU vs. NMS - Drawdown Comparison
The maximum MMU drawdown since its inception was -34.51%, smaller than the maximum NMS drawdown of -38.76%. Use the drawdown chart below to compare losses from any high point for MMU and NMS.
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Drawdown Indicators
| MMU | NMS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.51% | -38.76% | +4.25% |
Max Drawdown (1Y)Largest decline over 1 year | -7.54% | -5.07% | -2.47% |
Max Drawdown (5Y)Largest decline over 5 years | -31.89% | -38.76% | +6.87% |
Max Drawdown (10Y)Largest decline over 10 years | -34.51% | -38.76% | +4.25% |
Current DrawdownCurrent decline from peak | -6.98% | -5.09% | -1.89% |
Average DrawdownAverage peak-to-trough decline | -6.84% | -10.81% | +3.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.37% | 2.41% | -0.04% |
Volatility
MMU vs. NMS - Volatility Comparison
Western Asset Managed Municipals Fund Inc (MMU) has a higher volatility of 4.77% compared to Nuveen Minnesota Quality Municipal Income Fund (NMS) at 2.88%. This indicates that MMU's price experiences larger fluctuations and is considered to be riskier than NMS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MMU | NMS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.77% | 2.88% | +1.89% |
Volatility (6M)Calculated over the trailing 6-month period | 6.12% | 5.95% | +0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.22% | 8.95% | +0.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.63% | 14.10% | -3.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.02% | 14.63% | -1.61% |