NCHRX vs. JQC
NCHRX (Nuveen California High Yield Municipal Bond Fund) and JQC (Nuveen Credit Strategies Income Fund) are both mutual funds - NCHRX is a Municipal Bonds fund managed by Nuveen, while JQC is a Bank Loan fund managed by Nuveen. Over the past 10 years, NCHRX returned 1.55%/yr vs 5.56%/yr for JQC. Their 0.03 correlation means their historical movements had little consistent relationship. NCHRX charges 0.61%/yr vs 4.34%/yr for JQC.
Performance
NCHRX vs. JQC - Performance Comparison
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Returns By Period
In the year-to-date period, NCHRX achieves a 0.38% return, which is significantly lower than JQC's 1.97% return. Over the past 10 years, NCHRX has underperformed JQC with an annualized return of 1.55%, while JQC has yielded a comparatively higher 5.56% annualized return.
NCHRX
- 1D
- -0.52%
- 1M
- -2.89%
- 6M
- -0.01%
- YTD
- 0.38%
- 1Y
- 7.41%
- 3Y*
- 3.95%
- 5Y*
- -2.03%
- 10Y*
- 1.55%
- ALL TIME*
- 3.65%
JQC
- 1D
- -0.21%
- 1M
- -0.42%
- 6M
- -1.83%
- YTD
- 1.97%
- 1Y
- -2.16%
- 3Y*
- 10.59%
- 5Y*
- 4.73%
- 10Y*
- 5.56%
- ALL TIME*
- 4.93%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.37M | $2.54M | $2.74M | |
| $0.00 | $0.00 | $0.00 |
NCHRX vs. JQC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NCHRX Nuveen California High Yield Municipal Bond Fund | 0.38% | 3.34% | 5.17% | 4.46% | -20.76% | 5.41% | 6.02% | 12.21% | -0.33% | 11.27% |
JQC Nuveen Credit Strategies Income Fund | 1.97% | -0.36% | 22.29% | 15.26% | -14.22% | 13.29% | -2.96% | 21.78% | -4.33% | -0.27% |
Correlation
The correlation between NCHRX and JQC is 0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.06 |
Correlation (3Y) Balances recent behavior with more history. | 0.08 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.10 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.07 |
Correlation (All Time) Calculated using the full available price history since Apr 17, 2006 | 0.03 |
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Return for Risk
NCHRX vs. JQC — Risk / Return Rank
NCHRX
JQC
NCHRX vs. JQC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen California High Yield Municipal Bond Fund (NCHRX) and Nuveen Credit Strategies Income Fund (JQC). 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.
| NCHRX | JQC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.33 | ||
| Sortino ratioReturn per unit of downside risk | +3.38 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 0.97 | +0.50 |
| Calmar ratioReturn relative to maximum drawdown | 2.42 | -0.25 | +2.67 |
| Martin ratioReturn relative to average drawdown | 7.77 | -0.47 | +8.25 |
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Drawdowns
NCHRX vs. JQC - Drawdown Comparison
The maximum NCHRX drawdown since its inception was -39.64%, smaller than the maximum JQC drawdown of -75.18%. Use the drawdown chart below to compare losses from any high point for NCHRX and JQC.
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Drawdown Indicators
| NCHRX | JQC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.64% | -75.18% | +35.54% |
Max Drawdown (1Y)Largest decline over 1 year | -3.64% | -10.15% | +6.51% |
Max Drawdown (3Y)Largest decline over 3 years | -9.90% | -15.37% | +5.47% |
Max Drawdown (5Y)Largest decline over 5 years | -28.27% | -19.83% | -8.44% |
Max Drawdown (10Y)Largest decline over 10 years | -28.27% | -47.99% | +19.72% |
Current DrawdownCurrent decline from peak | -9.77% | -4.17% | -5.60% |
Average DrawdownAverage peak-to-trough decline | -7.10% | -8.78% | +1.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.13% | 5.32% | -4.19% |
Volatility
NCHRX vs. JQC - Volatility Comparison
The current volatility for Nuveen California High Yield Municipal Bond Fund (NCHRX) is 1.33%, while Nuveen Credit Strategies Income Fund (JQC) has a volatility of 1.47%. This indicates that NCHRX experiences smaller price fluctuations and is considered to be less risky than JQC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NCHRX | JQC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.33% | 1.47% | -0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 3.28% | 8.52% | -5.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.18% | 11.13% | -6.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.03% | 13.08% | -6.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.49% | 17.49% | -10.00% |
NCHRX vs. JQC - Expense Ratio Comparison
NCHRX has a 0.61% expense ratio, which is lower than JQC's 4.34% expense ratio.
Dividends
NCHRX vs. JQC - Dividend Comparison
NCHRX's dividend yield for the trailing twelve months is around 3.90%, less than JQC's 13.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JQC Nuveen Credit Strategies Income Fund | 13.14% | 12.91% | 11.39% | 11.42% | 9.71% | 10.03% | 16.11% | 16.14% | 6.53% | 7.42% | 6.99% | 7.51% |
NCHRX Nuveen California High Yield Municipal Bond Fund | 3.90% | 4.59% | 4.28% | 4.40% | 5.14% | 3.90% | 3.85% | 4.17% | 4.08% | 3.94% | 4.42% | 4.45% |
Frequently Asked Questions
NCHRX and JQC have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JQC has higher volatility (1.47%) compared to NCHRX (1.33%). In terms of maximum drawdown, NCHRX dropped -39.64% vs JQC's -75.18%.
NCHRX currently has the higher Sharpe Ratio (2.11 vs -0.23), 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.
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