MYI vs. NVG
MYI (BlackRock MuniYield Quality Fund III) is Municipal Bonds fund actively managed by BlackRock, while NVG (Nuveen AMT-Free Municipal Credit Income Fund) is a stock. Over the past 10 years, MYI returned 1.37%/yr vs 3.15%/yr for NVG. Their 0.48 correlation means their historical movements had little consistent relationship. MYI charges 2.16%/yr vs 1.50%/yr for NVG.
Performance
MYI vs. NVG - Performance Comparison
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Returns By Period
In the year-to-date period, MYI achieves a 2.63% return, which is significantly higher than NVG's 1.85% return. Over the past 10 years, MYI has underperformed NVG with an annualized return of 1.37%, while NVG has yielded a comparatively higher 3.15% annualized return.
MYI
- 1D
- 0.28%
- 1M
- -2.66%
- 6M
- -0.97%
- YTD
- 2.63%
- 1Y
- 9.73%
- 3Y*
- 5.89%
- 5Y*
- -1.31%
- 10Y*
- 1.37%
- ALL TIME*
- 3.53%
NVG
- 1D
- 0.24%
- 1M
- -3.22%
- 6M
- -0.42%
- YTD
- 1.85%
- 1Y
- 13.21%
- 3Y*
- 9.80%
- 5Y*
- -1.01%
- 10Y*
- 3.15%
- ALL TIME*
- 5.22%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.81M | $3.00M | $2.91M | |
| $6.16M | $5.84M | $6.10M |
MYI vs. NVG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MYI BlackRock MuniYield Quality Fund III | 2.63% | 4.74% | 0.55% | 8.79% | -20.52% | 6.99% | 11.60% | 16.64% | -8.42% | 7.13% |
NVG Nuveen AMT-Free Municipal Credit Income Fund | 1.85% | 11.61% | 10.79% | 1.94% | -28.47% | 12.14% | 6.40% | 25.63% | -4.03% | 13.19% |
Correlation
The correlation between MYI and NVG is 0.64, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.64 |
Correlation (3Y) Balances recent behavior with more history. | 0.70 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.69 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.60 |
Correlation (All Time) Calculated using the full available price history since Sep 12, 2002 | 0.48 |
The correlation between MYI and NVG shifts across timeframes, from 0.48 (all time) to 0.70 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
MYI vs. NVG — Risk / Return Rank
MYI
NVG
MYI vs. NVG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock MuniYield Quality Fund III (MYI) 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.
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 | NVG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.15 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.24 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.29 | 1.27 | +0.02 |
| Martin ratioReturn relative to average drawdown | 4.66 | 3.85 | +0.81 |
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Drawdowns
MYI vs. NVG - Drawdown Comparison
The maximum MYI drawdown since its inception was -43.90%, which is greater than NVG's maximum drawdown of -41.72%. Use the drawdown chart below to compare losses from any high point for MYI and NVG.
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Drawdown Indicators
| MYI | NVG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.90% | -41.72% | -2.18% |
Max Drawdown (1Y)Largest decline over 1 year | -7.58% | -10.44% | +2.86% |
Max Drawdown (3Y)Largest decline over 3 years | -12.64% | -14.34% | +1.70% |
Max Drawdown (5Y)Largest decline over 5 years | -31.84% | -40.58% | +8.74% |
Max Drawdown (10Y)Largest decline over 10 years | -31.84% | -40.58% | +8.74% |
Current DrawdownCurrent decline from peak | -7.36% | -8.16% | +0.80% |
Average DrawdownAverage peak-to-trough decline | -9.37% | -7.91% | -1.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.09% | 3.44% | -1.35% |
Volatility
MYI vs. NVG - Volatility Comparison
BlackRock MuniYield Quality Fund III (MYI) and Nuveen AMT-Free Municipal Credit Income Fund (NVG) have volatilities of 2.28% and 2.38%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MYI | NVG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.28% | 2.38% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 7.05% | 8.87% | -1.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.82% | 10.53% | -1.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.04% | 13.09% | -2.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.35% | 12.88% | -1.53% |
MYI vs. NVG - Expense Ratio Comparison
MYI has a 2.16% expense ratio, which is higher than NVG's 1.50% expense ratio.
Dividends
MYI vs. NVG - Dividend Comparison
MYI's dividend yield for the trailing twelve months is around 6.18%, less than NVG's 7.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MYI BlackRock MuniYield Quality Fund III | 6.18% | 6.13% | 6.03% | 4.30% | 5.22% | 4.17% | 3.84% | 3.89% | 5.01% | 5.88% | 6.20% | 6.03% |
NVG Nuveen AMT-Free Municipal Credit Income Fund | 7.68% | 7.49% | 6.74% | 4.45% | 6.18% | 4.69% | 5.24% | 4.94% | 6.07% | 5.67% | 6.17% | 5.46% |
Frequently Asked Questions
MYI and NVG have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVG has higher volatility (2.38%) compared to MYI (2.28%). In terms of maximum drawdown, MYI dropped -43.90% vs NVG's -41.72%.
NVG currently has the higher Sharpe Ratio (1.26 vs 1.11), 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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