MMU vs. NVG
Compare and contrast key facts about Western Asset Managed Municipals Fund Inc (MMU) and Nuveen AMT-Free Municipal Credit Income Fund (NVG).
MMU is managed by Franklin Templeton. It was launched on Jun 26, 1992.
Performance
MMU vs. NVG - Performance Comparison
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MMU vs. NVG - 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% |
NVG Nuveen AMT-Free Municipal Credit Income Fund | -0.81% | 11.61% | 10.79% | 1.94% | -28.47% | 12.14% | 6.40% | 25.63% | -4.03% | 13.19% |
Returns By Period
In the year-to-date period, MMU achieves a 0.03% return, which is significantly higher than NVG's -0.81% return. Over the past 10 years, MMU has underperformed NVG with an annualized return of 1.38%, while NVG has yielded a comparatively higher 3.74% 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%
NVG
- 1D
- 2.84%
- 1M
- -6.72%
- YTD
- -0.81%
- 6M
- 4.12%
- 1Y
- 7.56%
- 3Y*
- 8.43%
- 5Y*
- -0.35%
- 10Y*
- 3.74%
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Return for Risk
MMU vs. NVG — Risk / Return Rank
MMU
NVG
MMU vs. NVG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Western Asset Managed Municipals Fund Inc (MMU) and Nuveen AMT-Free Municipal Credit Income Fund (NVG). 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 | NVG | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.72 | 0.66 | +0.06 |
Sortino ratioReturn per unit of downside risk | 1.09 | 0.95 | +0.13 |
Omega ratioGain probability vs. loss probability | 1.14 | 1.14 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 0.95 | 0.82 | +0.14 |
Martin ratioReturn relative to average drawdown | 3.03 | 2.68 | +0.35 |
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 | NVG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.72 | 0.66 | +0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | -0.03 | +0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.11 | 0.29 | -0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.39 | -0.01 |
Correlation
The correlation between MMU and NVG 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
MMU vs. NVG - Dividend Comparison
MMU's dividend yield for the trailing twelve months is around 6.36%, less than NVG's 7.69% 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% |
NVG Nuveen AMT-Free Municipal Credit Income Fund | 7.69% | 7.49% | 6.74% | 4.45% | 6.18% | 4.69% | 5.24% | 4.94% | 6.07% | 5.67% | 6.17% | 5.46% |
Drawdowns
MMU vs. NVG - Drawdown Comparison
The maximum MMU drawdown since its inception was -34.51%, smaller than the maximum NVG drawdown of -41.72%. Use the drawdown chart below to compare losses from any high point for MMU and NVG.
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Drawdown Indicators
| MMU | NVG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.51% | -41.72% | +7.21% |
Max Drawdown (1Y)Largest decline over 1 year | -7.54% | -10.44% | +2.90% |
Max Drawdown (5Y)Largest decline over 5 years | -31.89% | -40.58% | +8.69% |
Max Drawdown (10Y)Largest decline over 10 years | -34.51% | -40.58% | +6.07% |
Current DrawdownCurrent decline from peak | -6.98% | -10.57% | +3.59% |
Average DrawdownAverage peak-to-trough decline | -6.84% | -7.92% | +1.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.37% | 3.18% | -0.81% |
Volatility
MMU vs. NVG - Volatility Comparison
The current volatility for Western Asset Managed Municipals Fund Inc (MMU) is 4.77%, while Nuveen AMT-Free Municipal Credit Income Fund (NVG) has a volatility of 5.12%. This indicates that MMU experiences smaller price fluctuations and is considered to be less risky than NVG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MMU | NVG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.77% | 5.12% | -0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 6.12% | 7.38% | -1.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.22% | 11.58% | -2.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.63% | 12.88% | -2.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.02% | 12.79% | +0.23% |