NDMO vs. JPLD

Last updated Jun 4, 2026

NDMO (Nuveen Dynamic Municipal Opportunities Fund) is a stock, while JPLD (J P Morgan Exchange-Traded Fund Trust - Limited Duration Bond ETF) is Short-Term Bond fund actively managed by JPMorgan. Over the past year, NDMO returned 9.95% vs 4.71% for JPLD. At a 0.25 correlation, their price movements are largely independent.

Performance

NDMO vs. JPLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Dynamic Municipal Opportunities Fund (NDMO) and J P Morgan Exchange-Traded Fund Trust - Limited Duration Bond ETF (JPLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NDMO achieves a 5.30% return, which is significantly higher than JPLD's 1.04% return.

NDMO

• 1D: -0.39%
• 1M: 1.09%
• YTD: 5.30%
• 6M: 1.13%
• 1Y: 9.95%
• 3Y*: 6.28%
• 5Y*: -2.75%
• 10Y*: —

JPLD

• 1D: -0.06%
• 1M: 0.19%
• YTD: 1.04%
• 6M: 1.37%
• 1Y: 4.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

NDMO vs. JPLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NDMO Nuveen Dynamic Municipal Opportunities Fund	5.30%	8.21%	8.31%	-7.19%
JPLD J P Morgan Exchange-Traded Fund Trust - Limited Duration Bond ETF	1.04%	6.01%	6.49%	3.23%

Correlation

The correlation between NDMO and JPLD is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (All Time) Calculated using the full available price history since Aug 1, 2023	0.25

Return for Risk

NDMO vs. JPLD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NDMO

NDMO Risk / Return Rank: 68
NDMO Sharpe Ratio Rank: 70
NDMO Sortino Ratio Rank: 64
NDMO Omega Ratio Rank: 62
NDMO Calmar Ratio Rank: 71
NDMO Martin Ratio Rank: 71

JPLD

JPLD Risk / Return Rank: 91
JPLD Sharpe Ratio Rank: 90
JPLD Sortino Ratio Rank: 95
JPLD Omega Ratio Rank: 94
JPLD Calmar Ratio Rank: 85
JPLD Martin Ratio Rank: 90

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NDMO vs. JPLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Dynamic Municipal Opportunities Fund (NDMO) and J P Morgan Exchange-Traded Fund Trust - Limited Duration Bond ETF (JPLD). 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.

	NDMO	JPLD	Difference
Sharpe ratio Return per unit of total volatility	0.94	3.22	-2.28
Sortino ratio Return per unit of downside risk	1.45	5.29	-3.84
Omega ratio Gain probability vs. loss probability	1.18	1.68	-0.50
Calmar ratio Return relative to maximum drawdown	1.68	4.71	-3.04
Martin ratio Return relative to average drawdown	4.05	21.78	-17.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NDMO vs. JPLD - Sharpe Ratio Comparison

The current NDMO Sharpe Ratio is 0.94, which is lower than the JPLD Sharpe Ratio of 3.22. The chart below compares the historical Sharpe Ratios of NDMO and JPLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NDMO	JPLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.94	3.22	-2.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.17	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.01	3.25	-3.24

Drawdowns

NDMO vs. JPLD - Drawdown Comparison

The maximum NDMO drawdown since its inception was -42.54%, which is greater than JPLD's maximum drawdown of -1.17%. Use the drawdown chart below to compare losses from any high point for NDMO and JPLD.

Drawdown Indicators

	NDMO	JPLD	Difference
Max Drawdown Largest peak-to-trough decline	-42.54%	-1.17%	-41.37%
Max Drawdown (1Y) Largest decline over 1 year	-5.96%	-1.00%	-4.96%
Max Drawdown (3Y) Largest decline over 3 years	-16.02%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-42.54%	—	—
Current Drawdown Current decline from peak	-18.21%	-0.12%	-18.09%
Average Drawdown Average peak-to-trough decline	-21.45%	-0.15%	-21.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.46%	0.22%	+2.24%

Volatility

NDMO vs. JPLD - Volatility Comparison

Nuveen Dynamic Municipal Opportunities Fund (NDMO) has a higher volatility of 2.65% compared to J P Morgan Exchange-Traded Fund Trust - Limited Duration Bond ETF (JPLD) at 0.37%. This indicates that NDMO's price experiences larger fluctuations and is considered to be riskier than JPLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NDMO	JPLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.65%	0.37%	+2.28%
Volatility (6M) Calculated over the trailing 6-month period	8.23%	0.97%	+7.26%
Volatility (1Y) Calculated over the trailing 1-year period	10.66%	1.47%	+9.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.12%	1.83%	+14.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.60%	1.83%	+13.77%

Dividends

NDMO vs. JPLD - Dividend Comparison

NDMO's dividend yield for the trailing twelve months is around 7.22%, more than JPLD's 4.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
JPLD J P Morgan Exchange-Traded Fund Trust - Limited Duration Bond ETF	4.21%	4.24%	4.47%	1.83%	0.00%	0.00%	0.00%
NDMO Nuveen Dynamic Municipal Opportunities Fund	7.22%	7.38%	7.43%	7.80%	9.24%	5.52%	1.46%

Frequently Asked Questions

Can I hold both NDMO and JPLD in my portfolio?

NDMO and JPLD have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NDMO or JPLD?

NDMO has higher volatility (2.65%) compared to JPLD (0.37%). In terms of maximum drawdown, NDMO dropped -42.54% vs JPLD's -1.17%.

Which has better risk-adjusted returns?

JPLD currently has the higher Sharpe Ratio (3.22 vs 0.94), 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.