NCMAX vs. NMTRX
NCMAX (Columbia California Intermediate Municipal Bond Fund) and NMTRX (Nuveen Municipal Total Return Managed Accounts) are both Municipal Bonds funds. Over the past 10 years, NCMAX returned 1.75%/yr vs 2.21%/yr for NMTRX. A 0.80 correlation means they provide meaningful diversification when combined. NCMAX charges 0.47%/yr vs 0.05%/yr for NMTRX.
Performance
NCMAX vs. NMTRX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, NCMAX achieves a 1.10% return, which is significantly lower than NMTRX's 2.98% return. Over the past 10 years, NCMAX has underperformed NMTRX with an annualized return of 1.75%, while NMTRX has yielded a comparatively higher 2.21% annualized return.
NCMAX
- 1D
- 0.00%
- 1M
- 0.15%
- 6M
- 0.59%
- YTD
- 1.10%
- 1Y
- 5.17%
- 3Y*
- 3.35%
- 5Y*
- 0.91%
- 10Y*
- 1.75%
NMTRX
- 1D
- 0.00%
- 1M
- 0.59%
- 6M
- 2.57%
- YTD
- 2.98%
- 1Y
- 8.30%
- 3Y*
- 4.29%
- 5Y*
- 0.40%
- 10Y*
- 2.21%
NCMAX vs. NMTRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NCMAX Columbia California Intermediate Municipal Bond Fund | 1.10% | 4.87% | 1.10% | 4.47% | -6.46% | 1.01% | 3.68% | 6.74% | 1.18% | 4.65% |
NMTRX Nuveen Municipal Total Return Managed Accounts | 2.98% | 3.90% | 1.99% | 6.21% | -11.98% | 2.69% | 5.25% | 9.26% | 1.06% | 7.41% |
Correlation
The correlation between NCMAX and NMTRX is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since May 31, 2007 | 0.80 |
The correlation between NCMAX and NMTRX has been stable across timeframes, ranging from 0.76 to 0.86 - a consistent structural relationship.
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
NCMAX vs. NMTRX — Risk / Return Rank
NCMAX
NMTRX
NCMAX vs. NMTRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Columbia California Intermediate Municipal Bond Fund (NCMAX) and Nuveen Municipal Total Return Managed Accounts (NMTRX). 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.
| NCMAX | NMTRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.67 | 1.68 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.91 | 3.07 | -1.16 |
| Martin ratioReturn relative to average drawdown | 5.92 | 11.67 | -5.75 |
Loading charts...
Drawdowns
NCMAX vs. NMTRX - Drawdown Comparison
The maximum NCMAX drawdown since its inception was -10.92%, smaller than the maximum NMTRX drawdown of -16.36%. Use the drawdown chart below to compare losses from any high point for NCMAX and NMTRX.
Loading charts...
Drawdown Indicators
| NCMAX | NMTRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.92% | -16.36% | +5.44% |
Max Drawdown (1Y)Largest decline over 1 year | -2.70% | -2.65% | -0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -3.43% | -5.77% | +2.34% |
Max Drawdown (5Y)Largest decline over 5 years | -10.49% | -16.36% | +5.87% |
Max Drawdown (10Y)Largest decline over 10 years | -10.92% | -16.36% | +5.44% |
Current DrawdownCurrent decline from peak | -0.88% | -0.49% | -0.39% |
Average DrawdownAverage peak-to-trough decline | -1.64% | -2.89% | +1.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.86% | 0.69% | +0.17% |
Volatility
NCMAX vs. NMTRX - Volatility Comparison
Columbia California Intermediate Municipal Bond Fund (NCMAX) and Nuveen Municipal Total Return Managed Accounts (NMTRX) have volatilities of 0.62% and 0.60%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| NCMAX | NMTRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.62% | 0.60% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 1.65% | 2.27% | -0.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.04% | 2.97% | -0.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.79% | 4.03% | -1.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.26% | 4.39% | -1.13% |
NCMAX vs. NMTRX - Expense Ratio Comparison
NCMAX has a 0.47% expense ratio, which is higher than NMTRX's 0.05% expense ratio.
Dividends
NCMAX vs. NMTRX - Dividend Comparison
NCMAX's dividend yield for the trailing twelve months is around 2.98%, less than NMTRX's 4.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NCMAX Columbia California Intermediate Municipal Bond Fund | 2.98% | 3.77% | 2.52% | 2.39% | 2.29% | 2.23% | 2.37% | 2.85% | 2.90% | 2.79% | 2.81% | 2.85% |
NMTRX Nuveen Municipal Total Return Managed Accounts | 4.60% | 4.46% | 3.55% | 3.67% | 3.28% | 2.73% | 2.92% | 3.20% | 3.47% | 3.28% | 3.71% | 3.91% |
Frequently Asked Questions
NCMAX and NMTRX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NCMAX has higher volatility (0.62%) compared to NMTRX (0.60%). In terms of maximum drawdown, NCMAX dropped -10.92% vs NMTRX's -16.36%.
NMTRX currently has the higher Sharpe Ratio (2.73 vs 2.52), 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 NCMAX and NMTRX
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