NAD vs. TLT
Compare and contrast key facts about Nuveen Quality Municipal Income Fund (NAD) and iShares 20+ Year Treasury Bond ETF (TLT).
TLT is a passively managed fund by iShares that tracks the performance of the ICE U.S. Treasury 20+ Year Bond Index. It was launched on Jul 22, 2002.
Performance
NAD vs. TLT - Performance Comparison
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NAD vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NAD Nuveen Quality Municipal Income Fund | -2.64% | 11.29% | 8.74% | 1.26% | -22.85% | 9.70% | 10.33% | 21.92% | -6.10% | 6.37% |
TLT iShares 20+ Year Treasury Bond ETF | 0.17% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
Returns By Period
In the year-to-date period, NAD achieves a -2.64% return, which is significantly lower than TLT's 0.17% return. Over the past 10 years, NAD has outperformed TLT with an annualized return of 2.89%, while TLT has yielded a comparatively lower -1.38% annualized return.
NAD
- 1D
- 2.31%
- 1M
- -5.72%
- YTD
- -2.64%
- 6M
- 1.90%
- 1Y
- 7.58%
- 3Y*
- 6.52%
- 5Y*
- 0.20%
- 10Y*
- 2.89%
TLT
- 1D
- -0.10%
- 1M
- -4.23%
- YTD
- 0.17%
- 6M
- -0.87%
- 1Y
- -0.49%
- 3Y*
- -2.78%
- 5Y*
- -5.85%
- 10Y*
- -1.38%
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Return for Risk
NAD vs. TLT — Risk / Return Rank
NAD
TLT
NAD vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Quality Municipal Income Fund (NAD) and iShares 20+ Year Treasury Bond ETF (TLT). 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.
| NAD | TLT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.67 | -0.04 | +0.72 |
Sortino ratioReturn per unit of downside risk | 0.96 | 0.02 | +0.94 |
Omega ratioGain probability vs. loss probability | 1.15 | 1.00 | +0.14 |
Calmar ratioReturn relative to maximum drawdown | 1.05 | 0.05 | +1.00 |
Martin ratioReturn relative to average drawdown | 4.47 | 0.11 | +4.36 |
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
| NAD | TLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.67 | -0.04 | +0.72 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | -0.37 | +0.39 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.25 | -0.09 | +0.34 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.26 | +0.11 |
Correlation
The correlation between NAD and TLT is 0.25, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
NAD vs. TLT - Dividend Comparison
NAD's dividend yield for the trailing twelve months is around 7.57%, more than TLT's 4.49% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NAD Nuveen Quality Municipal Income Fund | 7.57% | 7.37% | 6.63% | 4.13% | 5.58% | 4.43% | 4.41% | 4.40% | 5.37% | 5.42% | 6.05% | 5.96% |
TLT iShares 20+ Year Treasury Bond ETF | 4.49% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
Drawdowns
NAD vs. TLT - Drawdown Comparison
The maximum NAD drawdown since its inception was -44.65%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for NAD and TLT.
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Drawdown Indicators
| NAD | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.65% | -48.35% | +3.70% |
Max Drawdown (1Y)Largest decline over 1 year | -8.08% | -9.23% | +1.15% |
Max Drawdown (5Y)Largest decline over 5 years | -35.58% | -43.70% | +8.12% |
Max Drawdown (10Y)Largest decline over 10 years | -35.58% | -48.35% | +12.77% |
Current DrawdownCurrent decline from peak | -8.44% | -40.17% | +31.73% |
Average DrawdownAverage peak-to-trough decline | -7.84% | -13.62% | +5.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.90% | 4.38% | -2.48% |
Volatility
NAD vs. TLT - Volatility Comparison
Nuveen Quality Municipal Income Fund (NAD) has a higher volatility of 6.01% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 3.71%. This indicates that NAD's price experiences larger fluctuations and is considered to be riskier than TLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NAD | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.01% | 3.71% | +2.30% |
Volatility (6M)Calculated over the trailing 6-month period | 7.99% | 6.61% | +1.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.32% | 11.44% | -0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.31% | 15.90% | -4.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.84% | 14.93% | -3.09% |