MTLFX vs. NPV
MTLFX (MFS Municipal Limited Maturity Fund) and NPV (Nuveen Virginia Quality Municipal Income Fund) are both Municipal Bonds funds. Over the past 10 years, MTLFX returned 1.94%/yr vs 1.50%/yr for NPV. Their 0.17 correlation means their historical movements had little consistent relationship. MTLFX charges 0.60%/yr vs 1.51%/yr for NPV.
Performance
MTLFX vs. NPV - Performance Comparison
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Returns By Period
In the year-to-date period, MTLFX achieves a 0.16% return, which is significantly lower than NPV's 1.46% return. Over the past 10 years, MTLFX has outperformed NPV with an annualized return of 1.94%, while NPV has yielded a comparatively lower 1.50% annualized return.
MTLFX
- 1D
- -0.13%
- 1M
- -1.12%
- 6M
- -0.60%
- YTD
- 0.16%
- 1Y
- 2.61%
- 3Y*
- 4.07%
- 5Y*
- 1.46%
- 10Y*
- 1.94%
- ALL TIME*
- 3.20%
NPV
- 1D
- -0.55%
- 1M
- -5.83%
- 6M
- -1.18%
- YTD
- 1.46%
- 1Y
- 5.23%
- 3Y*
- 6.28%
- 5Y*
- -3.35%
- 10Y*
- 1.50%
- ALL TIME*
- 4.15%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $741.86K | $696.68K | $526.14K |
MTLFX vs. NPV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MTLFX MFS Municipal Limited Maturity Fund | 0.16% | 6.04% | 3.41% | 4.36% | -5.65% | 0.70% | 3.27% | 5.50% | 1.28% | 3.24% |
NPV Nuveen Virginia Quality Municipal Income Fund | 1.46% | -5.91% | 24.61% | 0.42% | -31.53% | 10.93% | 13.15% | 29.60% | -4.42% | 3.20% |
Correlation
The correlation between MTLFX and NPV is 0.37, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.37 |
Correlation (3Y) Balances recent behavior with more history. | 0.42 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.40 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.31 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 1994 | 0.17 |
The correlation between MTLFX and NPV shifts across timeframes, from 0.17 (all time) to 0.42 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
MTLFX vs. NPV — Risk / Return Rank
MTLFX
NPV
MTLFX vs. NPV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MFS Municipal Limited Maturity Fund (MTLFX) and Nuveen Virginia Quality Municipal Income Fund (NPV). 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.
| MTLFX | NPV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.85 | ||
| Sortino ratioReturn per unit of downside risk | +1.32 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.15 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 1.52 | 0.95 | +0.57 |
| Martin ratioReturn relative to average drawdown | 4.31 | 3.15 | +1.15 |
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Drawdowns
MTLFX vs. NPV - Drawdown Comparison
The maximum MTLFX drawdown since its inception was -8.98%, smaller than the maximum NPV drawdown of -44.25%. Use the drawdown chart below to compare losses from any high point for MTLFX and NPV.
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Drawdown Indicators
| MTLFX | NPV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.98% | -44.25% | +35.27% |
Max Drawdown (1Y)Largest decline over 1 year | -2.08% | -6.15% | +4.07% |
Max Drawdown (3Y)Largest decline over 3 years | -2.50% | -18.29% | +15.79% |
Max Drawdown (5Y)Largest decline over 5 years | -8.66% | -44.25% | +35.59% |
Max Drawdown (10Y)Largest decline over 10 years | -8.98% | -44.25% | +35.27% |
Current DrawdownCurrent decline from peak | -1.44% | -19.99% | +18.55% |
Average DrawdownAverage peak-to-trough decline | -0.88% | -10.21% | +9.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 1.85% | -1.12% |
Volatility
MTLFX vs. NPV - Volatility Comparison
The current volatility for MFS Municipal Limited Maturity Fund (MTLFX) is 0.53%, while Nuveen Virginia Quality Municipal Income Fund (NPV) has a volatility of 2.19%. This indicates that MTLFX experiences smaller price fluctuations and is considered to be less risky than NPV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MTLFX | NPV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.53% | 2.19% | -1.66% |
Volatility (6M)Calculated over the trailing 6-month period | 1.53% | 5.24% | -3.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.89% | 7.19% | -5.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.26% | 13.46% | -11.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.51% | 13.15% | -10.64% |
MTLFX vs. NPV - Expense Ratio Comparison
MTLFX has a 0.60% expense ratio, which is lower than NPV's 1.51% expense ratio.
Dividends
MTLFX vs. NPV - Dividend Comparison
MTLFX's dividend yield for the trailing twelve months is around 2.86%, less than NPV's 7.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MTLFX MFS Municipal Limited Maturity Fund | 2.86% | 4.06% | 3.34% | 2.32% | 1.13% | 1.30% | 1.75% | 2.27% | 2.13% | 2.07% | 1.95% | 1.75% |
NPV Nuveen Virginia Quality Municipal Income Fund | 7.22% | 7.55% | 5.63% | 3.89% | 5.08% | 3.42% | 3.49% | 3.58% | 4.62% | 4.40% | 4.87% | 5.25% |
Frequently Asked Questions
MTLFX and NPV have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NPV has higher volatility (2.19%) compared to MTLFX (0.53%). In terms of maximum drawdown, MTLFX dropped -8.98% vs NPV's -44.25%.
MTLFX currently has the higher Sharpe Ratio (1.66 vs 0.81), 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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