MYI vs. NPV
MYI (BlackRock MuniYield Quality Fund III) and NPV (Nuveen Virginia Quality Municipal Income Fund) are both Municipal Bonds funds. Both are actively managed. Over the past 10 years, MYI returned 1.53%/yr vs 2.10%/yr for NPV. At a 0.24 correlation, their price movements are largely independent. MYI charges 2.16%/yr vs 1.51%/yr for NPV.
Performance
MYI vs. NPV - Performance Comparison
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Returns By Period
In the year-to-date period, MYI achieves a 3.64% return, which is significantly lower than NPV's 6.33% return. Over the past 10 years, MYI has underperformed NPV with an annualized return of 1.53%, while NPV has yielded a comparatively higher 2.10% annualized return.
MYI
- 1D
- -0.46%
- 1M
- 2.86%
- YTD
- 3.64%
- 6M
- 4.31%
- 1Y
- 11.92%
- 3Y*
- 6.47%
- 5Y*
- -0.70%
- 10Y*
- 1.53%
NPV
- 1D
- -0.26%
- 1M
- 1.79%
- YTD
- 6.33%
- 6M
- 5.29%
- 1Y
- 9.01%
- 3Y*
- 8.40%
- 5Y*
- -1.79%
- 10Y*
- 2.10%
MYI vs. NPV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MYI BlackRock MuniYield Quality Fund III | 3.64% | 4.74% | 0.55% | 8.79% | -20.52% | 6.99% | 11.60% | 16.64% | -8.42% | 7.13% |
NPV Nuveen Virginia Quality Municipal Income Fund | 6.33% | -5.91% | 24.61% | 0.42% | -31.53% | 10.93% | 13.15% | 29.60% | -4.42% | 3.20% |
Correlation
The correlation between MYI and NPV is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 1994 | 0.24 |
The correlation between MYI and NPV shifts across timeframes, from 0.24 (all time) to 0.47 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
MYI vs. NPV — Risk / Return Rank
MYI
NPV
MYI vs. NPV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock MuniYield Quality Fund III (MYI) 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.
| MYI | NPV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.24 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.58 | 2.10 | -0.52 |
| Martin ratioReturn relative to average drawdown | 5.76 | 5.28 | +0.49 |
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Drawdowns
MYI vs. NPV - Drawdown Comparison
The maximum MYI drawdown since its inception was -43.90%, roughly equal to the maximum NPV drawdown of -44.25%. Use the drawdown chart below to compare losses from any high point for MYI and NPV.
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Drawdown Indicators
| MYI | NPV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.90% | -44.25% | +0.35% |
Max Drawdown (1Y)Largest decline over 1 year | -7.58% | -4.31% | -3.27% |
Max Drawdown (3Y)Largest decline over 3 years | -15.07% | -18.29% | +3.22% |
Max Drawdown (5Y)Largest decline over 5 years | -31.84% | -44.25% | +12.41% |
Max Drawdown (10Y)Largest decline over 10 years | -31.84% | -44.25% | +12.41% |
Current DrawdownCurrent decline from peak | -6.45% | -16.15% | +9.70% |
Average DrawdownAverage peak-to-trough decline | -9.39% | -10.19% | +0.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.07% | 1.71% | +0.36% |
Volatility
MYI vs. NPV - Volatility Comparison
BlackRock MuniYield Quality Fund III (MYI) has a higher volatility of 2.90% compared to Nuveen Virginia Quality Municipal Income Fund (NPV) at 1.54%. This indicates that MYI's price experiences larger fluctuations and is considered to be riskier 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
| MYI | NPV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.90% | 1.54% | +1.36% |
Volatility (6M)Calculated over the trailing 6-month period | 6.94% | 4.97% | +1.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.81% | 6.90% | +1.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.99% | 13.46% | -2.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.39% | 13.19% | -1.80% |
MYI vs. NPV - Expense Ratio Comparison
MYI has a 2.16% expense ratio, which is higher than NPV's 1.51% expense ratio.
Dividends
MYI vs. NPV - Dividend Comparison
MYI's dividend yield for the trailing twelve months is around 6.09%, less than NPV's 6.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MYI BlackRock MuniYield Quality Fund III | 6.09% | 6.13% | 6.03% | 4.30% | 5.22% | 4.17% | 3.84% | 3.89% | 5.01% | 5.88% | 6.20% | 6.03% |
NPV Nuveen Virginia Quality Municipal Income Fund | 6.95% | 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
MYI and NPV have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MYI has higher volatility (2.90%) compared to NPV (1.54%). In terms of maximum drawdown, MYI dropped -43.90% vs NPV's -44.25%.
MYI currently has the higher Sharpe Ratio (1.36 vs 1.31), 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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