MQY vs. NZF
Compare and contrast key facts about BlackRock MuniYield Quality Fund (MQY) and Nuveen Municipal Credit Income Fund (NZF).
MQY is an actively managed fund by BlackRock. It was launched on Jul 21, 1992. 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
MQY vs. NZF - Performance Comparison
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MQY vs. NZF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MQY BlackRock MuniYield Quality Fund | -1.36% | 4.28% | -0.06% | 10.20% | -24.23% | 2.67% | 14.65% | 20.89% | -10.12% | 8.98% |
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
The year-to-date returns for both investments are quite close, with MQY having a -1.36% return and NZF slightly higher at -1.35%. Over the past 10 years, MQY has underperformed NZF with an annualized return of 1.24%, while NZF has yielded a comparatively higher 3.66% annualized return.
MQY
- 1D
- 1.20%
- 1M
- -7.02%
- YTD
- -1.36%
- 6M
- -2.87%
- 1Y
- -0.29%
- 3Y*
- 3.14%
- 5Y*
- -2.07%
- 10Y*
- 1.24%
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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MQY vs. NZF - Expense Ratio Comparison
MQY has a 2.07% expense ratio, which is higher than NZF's 1.89% expense ratio.
Return for Risk
MQY vs. NZF — Risk / Return Rank
MQY
NZF
MQY vs. NZF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock MuniYield Quality Fund (MQY) 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.
| MQY | NZF | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.03 | 0.66 | -0.69 |
Sortino ratioReturn per unit of downside risk | 0.04 | 1.01 | -0.97 |
Omega ratioGain probability vs. loss probability | 1.01 | 1.13 | -0.13 |
Calmar ratioReturn relative to maximum drawdown | -0.06 | 1.09 | -1.15 |
Martin ratioReturn relative to average drawdown | -0.15 | 3.61 | -3.76 |
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
| MQY | NZF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.03 | 0.66 | -0.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.17 | 0.01 | -0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.10 | 0.28 | -0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.36 | -0.02 |
Correlation
The correlation between MQY and NZF is 0.48, 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
MQY vs. NZF - Dividend Comparison
MQY's dividend yield for the trailing twelve months is around 6.34%, less than NZF's 7.83% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MQY BlackRock MuniYield Quality Fund | 6.34% | 6.16% | 6.04% | 4.46% | 5.87% | 4.93% | 4.21% | 4.00% | 5.24% | 5.67% | 6.10% | 6.06% |
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
MQY vs. NZF - Drawdown Comparison
The maximum MQY drawdown since its inception was -41.67%, smaller than the maximum NZF drawdown of -48.55%. Use the drawdown chart below to compare losses from any high point for MQY and NZF.
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Drawdown Indicators
| MQY | NZF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.67% | -48.55% | +6.88% |
Max Drawdown (1Y)Largest decline over 1 year | -9.89% | -8.18% | -1.71% |
Max Drawdown (5Y)Largest decline over 5 years | -35.44% | -37.42% | +1.98% |
Max Drawdown (10Y)Largest decline over 10 years | -35.97% | -37.42% | +1.45% |
Current DrawdownCurrent decline from peak | -17.88% | -8.18% | -9.70% |
Average DrawdownAverage peak-to-trough decline | -8.25% | -7.79% | -0.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.15% | 2.46% | +1.69% |
Volatility
MQY vs. NZF - Volatility Comparison
The current volatility for BlackRock MuniYield Quality Fund (MQY) is 3.20%, while Nuveen Municipal Credit Income Fund (NZF) has a volatility of 4.70%. This indicates that MQY experiences smaller price fluctuations and is considered to be less risky than NZF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MQY | NZF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.20% | 4.70% | -1.50% |
Volatility (6M)Calculated over the trailing 6-month period | 5.97% | 7.66% | -1.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.96% | 11.63% | -0.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.06% | 12.22% | -0.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.00% | 13.02% | -0.02% |