NEA vs. AM
NEA (Nuveen AMT-Free Quality Municipal Income Fund) and AM (Antero Midstream Corporation) are both stocks. NEA operates in Asset Management (Financial Services), while AM operates in Oil & Gas Midstream (Energy). Over the past 10 years, NEA returned 2.81%/yr vs 7.20%/yr for AM. At a 0.06 correlation, their price movements are largely independent.
Performance
NEA vs. AM - Performance Comparison
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Returns By Period
In the year-to-date period, NEA achieves a 1.11% return, which is significantly lower than AM's 22.62% return. Over the past 10 years, NEA has underperformed AM with an annualized return of 2.81%, while AM has yielded a comparatively higher 7.20% annualized return.
NEA
- 1D
- -0.70%
- 1M
- -1.31%
- YTD
- 1.11%
- 6M
- 1.88%
- 1Y
- 13.65%
- 3Y*
- 8.73%
- 5Y*
- -0.37%
- 10Y*
- 2.81%
AM
- 1D
- -0.88%
- 1M
- 1.96%
- YTD
- 22.62%
- 6M
- 16.77%
- 1Y
- 19.29%
- 3Y*
- 32.87%
- 5Y*
- 24.10%
- 10Y*
- 7.20%
NEA vs. AM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NEA Nuveen AMT-Free Quality Municipal Income Fund | 1.11% | 11.31% | 9.50% | 0.75% | -23.32% | 8.16% | 10.07% | 22.42% | -5.72% | 8.77% |
AM Antero Midstream Corporation | 22.62% | 24.37% | 28.46% | 25.73% | 21.98% | 39.55% | 27.59% | -60.29% | -22.28% | -2.32% |
Correlation
The correlation between NEA and AM is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2014 | 0.06 |
The correlation between NEA and AM shifts across timeframes, from -0.07 (1 year) to 0.10 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
NEA:
$3.41B
AM:
$10.19B
NEA:
$2.18
AM:
$0.85
NEA:
5.23
AM:
24.99
NEA:
0.02
AM:
4.31
NEA:
4.14
AM:
8.12
NEA:
0.97
AM:
5.26
NEA:
$824.80M
AM:
$1.26B
NEA:
$779.17M
AM:
$620.66M
NEA:
$732.48M
AM:
$955.64M
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Return for Risk
NEA vs. AM — Risk / Return Rank
NEA
AM
NEA vs. AM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen AMT-Free Quality Municipal Income Fund (NEA) and Antero Midstream Corporation (AM). 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.
| NEA | AM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.17 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.88 | 1.53 | +0.36 |
| Martin ratioReturn relative to average drawdown | 7.51 | 3.18 | +4.33 |
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
| NEA | AM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.29 | 0.93 | +0.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.03 | 0.91 | -0.94 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.24 | 0.17 | +0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.13 | +0.18 |
Drawdowns
NEA vs. AM - Drawdown Comparison
The maximum NEA drawdown since its inception was -43.83%, smaller than the maximum AM drawdown of -93.01%. Use the drawdown chart below to compare losses from any high point for NEA and AM.
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Drawdown Indicators
| NEA | AM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.83% | -93.01% | +49.18% |
Max Drawdown (1Y)Largest decline over 1 year | -7.27% | -12.67% | +5.40% |
Max Drawdown (3Y)Largest decline over 3 years | -15.16% | -13.98% | -1.18% |
Max Drawdown (5Y)Largest decline over 5 years | -36.57% | -21.91% | -14.66% |
Max Drawdown (10Y)Largest decline over 10 years | -36.57% | -93.01% | +56.44% |
Current DrawdownCurrent decline from peak | -5.99% | -8.68% | +2.69% |
Average DrawdownAverage peak-to-trough decline | -8.01% | -31.42% | +23.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.82% | 6.10% | -4.28% |
Volatility
NEA vs. AM - Volatility Comparison
The current volatility for Nuveen AMT-Free Quality Municipal Income Fund (NEA) is 2.94%, while Antero Midstream Corporation (AM) has a volatility of 5.87%. This indicates that NEA experiences smaller price fluctuations and is considered to be less risky than AM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NEA | AM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.94% | 5.87% | -2.93% |
Volatility (6M)Calculated over the trailing 6-month period | 8.53% | 14.39% | -5.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.65% | 20.88% | -10.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.49% | 26.55% | -15.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.81% | 42.01% | -30.20% |
Dividends
NEA vs. AM - Dividend Comparison
NEA's dividend yield for the trailing twelve months is around 7.28%, more than AM's 4.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AM Antero Midstream Corporation | 4.22% | 5.06% | 5.96% | 7.18% | 8.34% | 10.15% | 15.95% | 18.28% | 7.53% | 4.27% | 3.14% | 2.93% |
NEA Nuveen AMT-Free Quality Municipal Income Fund | 7.28% | 7.36% | 6.63% | 3.95% | 5.49% | 4.50% | 4.45% | 4.46% | 5.40% | 5.33% | 5.70% | 5.71% |
Financials
NEA vs. AM - Financials Comparison
This section allows you to compare key financial metrics between Nuveen AMT-Free Quality Municipal Income Fund and Antero Midstream Corporation. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
Frequently Asked Questions
NEA and AM have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AM has higher volatility (5.87%) compared to NEA (2.94%). In terms of maximum drawdown, NEA dropped -43.83% vs AM's -93.01%.
NEA currently has the higher Sharpe Ratio (1.29 vs 0.93), 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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