NBB vs. BAB
NBB (Nuveen Taxable Municipal Income Fund) and BAB (Invesco Taxable Municipal Bond ETF) are both funds - NBB is a Corporate Bonds fund managed by Nuveen, while BAB is a Municipal Bonds fund tracking the BofA Merrill Lynch Build America Bond Index. Over the past 10 years, NBB returned 2.60%/yr vs 2.08%/yr for BAB. At a 0.37 correlation, their price movements are largely independent. NBB charges 0.04%/yr vs 0.28%/yr for BAB.
Performance
NBB vs. BAB - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, NBB achieves a 1.92% return, which is significantly higher than BAB's 0.16% return. Over the past 10 years, NBB has outperformed BAB with an annualized return of 2.60%, while BAB has yielded a comparatively lower 2.08% annualized return.
NBB
- 1D
- -0.58%
- 1M
- -0.98%
- 6M
- -0.27%
- YTD
- 1.92%
- 1Y
- 6.83%
- 3Y*
- 7.76%
- 5Y*
- -1.04%
- 10Y*
- 2.60%
BAB
- 1D
- 0.05%
- 1M
- -0.42%
- 6M
- -0.14%
- YTD
- 0.16%
- 1Y
- 6.22%
- 3Y*
- 4.29%
- 5Y*
- -0.95%
- 10Y*
- 2.08%
NBB vs. BAB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NBB Nuveen Taxable Municipal Income Fund | 1.92% | 13.52% | 1.32% | 7.62% | -24.60% | 0.91% | 14.45% | 19.48% | -6.37% | 12.96% |
BAB Invesco Taxable Municipal Bond ETF | 0.16% | 8.30% | 1.03% | 8.67% | -19.50% | 1.00% | 9.11% | 10.85% | 0.93% | 9.87% |
Correlation
The correlation between NBB and BAB is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 2010 | 0.37 |
The correlation between NBB and BAB shifts across timeframes, from 0.37 (all time) to 0.53 (3 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
NBB vs. BAB — Risk / Return Rank
NBB
BAB
NBB vs. BAB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Taxable Municipal Income Fund (NBB) and Invesco Taxable Municipal Bond ETF (BAB). 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.
| NBB | BAB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.40 | ||
| Sortino ratioReturn per unit of downside risk | -0.63 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.20 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.01 | 1.51 | -0.50 |
| Martin ratioReturn relative to average drawdown | 2.98 | 3.84 | -0.87 |
Loading charts...
Drawdowns
NBB vs. BAB - Drawdown Comparison
The maximum NBB drawdown since its inception was -33.51%, which is greater than BAB's maximum drawdown of -27.80%. Use the drawdown chart below to compare losses from any high point for NBB and BAB.
Loading charts...
Drawdown Indicators
| NBB | BAB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.51% | -27.80% | -5.71% |
Max Drawdown (1Y)Largest decline over 1 year | -6.81% | -4.15% | -2.66% |
Max Drawdown (3Y)Largest decline over 3 years | -11.39% | -7.57% | -3.82% |
Max Drawdown (5Y)Largest decline over 5 years | -33.51% | -24.95% | -8.56% |
Max Drawdown (10Y)Largest decline over 10 years | -33.51% | -27.80% | -5.71% |
Current DrawdownCurrent decline from peak | -6.84% | -5.61% | -1.23% |
Average DrawdownAverage peak-to-trough decline | -7.66% | -5.31% | -2.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.30% | 1.62% | +0.68% |
Volatility
NBB vs. BAB - Volatility Comparison
Nuveen Taxable Municipal Income Fund (NBB) has a higher volatility of 2.31% compared to Invesco Taxable Municipal Bond ETF (BAB) at 1.39%. This indicates that NBB's price experiences larger fluctuations and is considered to be riskier than BAB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| NBB | BAB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.31% | 1.39% | +0.92% |
Volatility (6M)Calculated over the trailing 6-month period | 7.39% | 3.77% | +3.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.74% | 5.64% | +4.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.78% | 8.30% | +5.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.24% | 9.67% | +4.57% |
NBB vs. BAB - Expense Ratio Comparison
NBB has a 0.04% expense ratio, which is lower than BAB's 0.28% expense ratio.
Dividends
NBB vs. BAB - Dividend Comparison
NBB's dividend yield for the trailing twelve months is around 7.50%, more than BAB's 4.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BAB Invesco Taxable Municipal Bond ETF | 4.13% | 3.96% | 3.97% | 3.65% | 3.40% | 2.63% | 2.96% | 3.77% | 4.20% | 3.96% | 4.26% | 4.71% |
NBB Nuveen Taxable Municipal Income Fund | 7.50% | 7.33% | 6.96% | 8.33% | 7.86% | 5.50% | 4.67% | 5.54% | 6.38% | 5.62% | 6.35% | 6.79% |
Frequently Asked Questions
NBB and BAB have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NBB has higher volatility (2.31%) compared to BAB (1.39%). In terms of maximum drawdown, NBB dropped -33.51% vs BAB's -27.80%.
BAB currently has the higher Sharpe Ratio (1.11 vs 0.70), 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.
Find the right allocation for NBB and BAB
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer