NCHRX vs. FHMIX
Compare and contrast key facts about Nuveen California High Yield Municipal Bond Fund (NCHRX) and Federated Hermes Conservative Municipal Microshort Fund (FHMIX).
NCHRX is managed by Nuveen. It was launched on Mar 27, 2006. FHMIX is managed by Federated. It was launched on Feb 2, 2021.
Performance
NCHRX vs. FHMIX - Performance Comparison
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NCHRX vs. FHMIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
NCHRX Nuveen California High Yield Municipal Bond Fund | -1.03% | 3.34% | 5.17% | 4.46% | -20.76% | 2.63% |
FHMIX Federated Hermes Conservative Municipal Microshort Fund | 0.42% | 3.09% | 1.19% | 0.32% | 0.00% | 0.02% |
Returns By Period
In the year-to-date period, NCHRX achieves a -1.03% return, which is significantly lower than FHMIX's 0.42% return.
NCHRX
- 1D
- 0.26%
- 1M
- -3.39%
- YTD
- -1.03%
- 6M
- 1.27%
- 1Y
- 2.79%
- 3Y*
- 2.93%
- 5Y*
- -1.34%
- 10Y*
- 1.85%
FHMIX
- 1D
- 0.00%
- 1M
- -0.10%
- YTD
- 0.42%
- 6M
- 1.08%
- 1Y
- 2.71%
- 3Y*
- 1.67%
- 5Y*
- —
- 10Y*
- —
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NCHRX vs. FHMIX - Expense Ratio Comparison
NCHRX has a 0.61% expense ratio, which is higher than FHMIX's 0.05% expense ratio.
Return for Risk
NCHRX vs. FHMIX — Risk / Return Rank
NCHRX
FHMIX
NCHRX vs. FHMIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen California High Yield Municipal Bond Fund (NCHRX) and Federated Hermes Conservative Municipal Microshort Fund (FHMIX). 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.
| NCHRX | FHMIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.45 | 3.11 | -2.66 |
Sortino ratioReturn per unit of downside risk | 0.63 | 9.83 | -9.21 |
Omega ratioGain probability vs. loss probability | 1.13 | 4.28 | -3.15 |
Calmar ratioReturn relative to maximum drawdown | 0.41 | 14.95 | -14.53 |
Martin ratioReturn relative to average drawdown | 1.03 | 55.16 | -54.13 |
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
| NCHRX | FHMIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.45 | 3.11 | -2.66 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.19 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.25 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 1.32 | -0.78 |
Correlation
The correlation between NCHRX and FHMIX is 0.13, 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
NCHRX vs. FHMIX - Dividend Comparison
NCHRX's dividend yield for the trailing twelve months is around 4.29%, more than FHMIX's 2.67% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NCHRX Nuveen California High Yield Municipal Bond Fund | 4.29% | 4.59% | 4.28% | 4.40% | 5.14% | 3.90% | 3.85% | 4.17% | 4.08% | 3.94% | 4.42% | 4.45% |
FHMIX Federated Hermes Conservative Municipal Microshort Fund | 2.67% | 3.04% | 1.18% | 0.32% | 0.00% | 0.02% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
NCHRX vs. FHMIX - Drawdown Comparison
The maximum NCHRX drawdown since its inception was -39.64%, which is greater than FHMIX's maximum drawdown of -0.50%. Use the drawdown chart below to compare losses from any high point for NCHRX and FHMIX.
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Drawdown Indicators
| NCHRX | FHMIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.64% | -0.50% | -39.14% |
Max Drawdown (1Y)Largest decline over 1 year | -8.05% | -0.20% | -7.85% |
Max Drawdown (5Y)Largest decline over 5 years | -28.27% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -28.27% | — | — |
Current DrawdownCurrent decline from peak | -11.04% | -0.10% | -10.94% |
Average DrawdownAverage peak-to-trough decline | -7.07% | -0.07% | -7.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.21% | 0.05% | +3.16% |
Volatility
NCHRX vs. FHMIX - Volatility Comparison
Nuveen California High Yield Municipal Bond Fund (NCHRX) has a higher volatility of 1.60% compared to Federated Hermes Conservative Municipal Microshort Fund (FHMIX) at 0.10%. This indicates that NCHRX's price experiences larger fluctuations and is considered to be riskier than FHMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NCHRX | FHMIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.60% | 0.10% | +1.50% |
Volatility (6M)Calculated over the trailing 6-month period | 2.47% | 0.63% | +1.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.74% | 0.96% | +6.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.96% | 0.78% | +6.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.46% | 0.78% | +6.68% |