NAZ vs. NCA
Compare and contrast key facts about Nuveen Arizona Quality Municipal Income Fund (NAZ) and Nuveen California Municipal Value Fund (NCA).
NAZ is managed by Nuveen. It was launched on Nov 19, 1992. NCA is managed by Nuveen. It was launched on Oct 7, 1987.
Performance
NAZ vs. NCA - Performance Comparison
Loading graphics...
NAZ vs. NCA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NAZ Nuveen Arizona Quality Municipal Income Fund | 2.58% | 12.08% | 12.93% | -0.48% | -27.24% | 4.75% | 22.64% | 18.15% | -12.52% | 5.81% |
NCA Nuveen California Municipal Value Fund | 5.80% | 10.27% | -1.92% | 10.39% | -13.57% | -3.51% | 4.62% | 21.08% | -7.38% | 2.94% |
Returns By Period
In the year-to-date period, NAZ achieves a 2.58% return, which is significantly lower than NCA's 5.80% return. Over the past 10 years, NAZ has underperformed NCA with an annualized return of 1.84%, while NCA has yielded a comparatively higher 2.21% annualized return.
NAZ
- 1D
- 1.87%
- 1M
- -0.87%
- YTD
- 2.58%
- 6M
- 4.55%
- 1Y
- 6.52%
- 3Y*
- 8.16%
- 5Y*
- 0.35%
- 10Y*
- 1.84%
NCA
- 1D
- 1.41%
- 1M
- -2.18%
- YTD
- 5.80%
- 6M
- 7.44%
- 1Y
- 12.81%
- 3Y*
- 6.25%
- 5Y*
- 2.03%
- 10Y*
- 2.21%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
NAZ vs. NCA - Expense Ratio Comparison
Both NAZ and NCA have an expense ratio of 0.03%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Return for Risk
NAZ vs. NCA — Risk / Return Rank
NAZ
NCA
NAZ vs. NCA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Arizona Quality Municipal Income Fund (NAZ) and Nuveen California Municipal Value Fund (NCA). 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.
| NAZ | NCA | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.59 | 1.02 | -0.43 |
Sortino ratioReturn per unit of downside risk | 0.92 | 1.59 | -0.67 |
Omega ratioGain probability vs. loss probability | 1.11 | 1.20 | -0.08 |
Calmar ratioReturn relative to maximum drawdown | 1.07 | 1.73 | -0.66 |
Martin ratioReturn relative to average drawdown | 3.00 | 5.39 | -2.39 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| NAZ | NCA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.59 | 1.02 | -0.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.03 | 0.17 | -0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.12 | 0.18 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 0.25 | +0.08 |
Correlation
The correlation between NAZ and NCA is 0.15, 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
NAZ vs. NCA - Dividend Comparison
NAZ's dividend yield for the trailing twelve months is around 6.85%, more than NCA's 3.72% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NAZ Nuveen Arizona Quality Municipal Income Fund | 6.85% | 7.09% | 6.20% | 3.63% | 5.01% | 3.75% | 3.52% | 3.82% | 4.52% | 4.65% | 5.53% | 5.25% |
NCA Nuveen California Municipal Value Fund | 3.72% | 3.89% | 4.12% | 3.88% | 3.66% | 3.02% | 2.98% | 3.21% | 3.79% | 5.33% | 4.36% | 4.34% |
Drawdowns
NAZ vs. NCA - Drawdown Comparison
The maximum NAZ drawdown since its inception was -38.28%, roughly equal to the maximum NCA drawdown of -37.14%. Use the drawdown chart below to compare losses from any high point for NAZ and NCA.
Loading graphics...
Drawdown Indicators
| NAZ | NCA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.28% | -37.14% | -1.14% |
Max Drawdown (1Y)Largest decline over 1 year | -6.68% | -7.55% | +0.87% |
Max Drawdown (5Y)Largest decline over 5 years | -38.28% | -22.97% | -15.31% |
Max Drawdown (10Y)Largest decline over 10 years | -38.28% | -22.97% | -15.31% |
Current DrawdownCurrent decline from peak | -6.68% | -2.79% | -3.89% |
Average DrawdownAverage peak-to-trough decline | -9.39% | -8.12% | -1.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.38% | 2.42% | -0.04% |
Volatility
NAZ vs. NCA - Volatility Comparison
The current volatility for Nuveen Arizona Quality Municipal Income Fund (NAZ) is 5.59%, while Nuveen California Municipal Value Fund (NCA) has a volatility of 6.30%. This indicates that NAZ experiences smaller price fluctuations and is considered to be less risky than NCA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| NAZ | NCA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.59% | 6.30% | -0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 7.65% | 10.42% | -2.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.09% | 12.65% | -1.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.44% | 12.09% | +1.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.82% | 12.38% | +2.44% |