NCHRX vs. FNMIX
Compare and contrast key facts about Nuveen California High Yield Municipal Bond Fund (NCHRX) and Fidelity New Markets Income Fund (FNMIX).
NCHRX is managed by Nuveen. It was launched on Mar 27, 2006. FNMIX is managed by Fidelity.
Performance
NCHRX vs. FNMIX - Performance Comparison
Loading graphics...
NCHRX vs. FNMIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NCHRX Nuveen California High Yield Municipal Bond Fund | -1.03% | 3.34% | 5.17% | 4.46% | -20.76% | 5.41% | 6.02% | 12.21% | -0.33% | 11.27% |
FNMIX Fidelity New Markets Income Fund | -1.02% | 14.86% | 6.80% | 14.00% | -16.09% | -2.42% | 4.62% | 10.93% | -7.77% | 10.16% |
Returns By Period
The year-to-date returns for both investments are quite close, with NCHRX having a -1.03% return and FNMIX slightly higher at -1.02%. Over the past 10 years, NCHRX has underperformed FNMIX with an annualized return of 1.85%, while FNMIX has yielded a comparatively higher 3.90% annualized 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%
FNMIX
- 1D
- -0.15%
- 1M
- -3.77%
- YTD
- -1.02%
- 6M
- 2.67%
- 1Y
- 10.54%
- 3Y*
- 10.89%
- 5Y*
- 3.53%
- 10Y*
- 3.90%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
NCHRX vs. FNMIX - Expense Ratio Comparison
NCHRX has a 0.61% expense ratio, which is lower than FNMIX's 0.80% expense ratio.
Return for Risk
NCHRX vs. FNMIX — Risk / Return Rank
NCHRX
FNMIX
NCHRX vs. FNMIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen California High Yield Municipal Bond Fund (NCHRX) and Fidelity New Markets Income Fund (FNMIX). 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 | FNMIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.45 | 2.08 | -1.63 |
Sortino ratioReturn per unit of downside risk | 0.63 | 2.89 | -2.27 |
Omega ratioGain probability vs. loss probability | 1.13 | 1.44 | -0.31 |
Calmar ratioReturn relative to maximum drawdown | 0.41 | 2.12 | -1.71 |
Martin ratioReturn relative to average drawdown | 1.03 | 9.40 | -8.37 |
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
| NCHRX | FNMIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.45 | 2.08 | -1.63 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.19 | 0.54 | -0.74 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.25 | 0.56 | -0.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.79 | -0.25 |
Correlation
The correlation between NCHRX and FNMIX 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
NCHRX vs. FNMIX - Dividend Comparison
NCHRX's dividend yield for the trailing twelve months is around 4.29%, less than FNMIX's 4.66% 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% |
FNMIX Fidelity New Markets Income Fund | 4.66% | 5.07% | 4.71% | 5.15% | 3.93% | 3.48% | 4.06% | 4.87% | 4.98% | 5.77% | 6.93% | 4.95% |
Drawdowns
NCHRX vs. FNMIX - Drawdown Comparison
The maximum NCHRX drawdown since its inception was -39.64%, smaller than the maximum FNMIX drawdown of -42.76%. Use the drawdown chart below to compare losses from any high point for NCHRX and FNMIX.
Loading graphics...
Drawdown Indicators
| NCHRX | FNMIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.64% | -42.76% | +3.12% |
Max Drawdown (1Y)Largest decline over 1 year | -8.05% | -5.12% | -2.93% |
Max Drawdown (5Y)Largest decline over 5 years | -28.27% | -27.16% | -1.11% |
Max Drawdown (10Y)Largest decline over 10 years | -28.27% | -27.16% | -1.11% |
Current DrawdownCurrent decline from peak | -11.04% | -3.85% | -7.19% |
Average DrawdownAverage peak-to-trough decline | -7.07% | -5.72% | -1.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.21% | 1.16% | +2.05% |
Volatility
NCHRX vs. FNMIX - Volatility Comparison
The current volatility for Nuveen California High Yield Municipal Bond Fund (NCHRX) is 1.60%, while Fidelity New Markets Income Fund (FNMIX) has a volatility of 1.70%. This indicates that NCHRX experiences smaller price fluctuations and is considered to be less risky than FNMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| NCHRX | FNMIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.60% | 1.70% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 2.47% | 3.00% | -0.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.74% | 5.25% | +2.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.96% | 6.55% | +0.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.46% | 6.94% | +0.52% |