NEA vs. LHYAX
NEA (Nuveen AMT-Free Quality Municipal Income Fund) is a stock, while LHYAX (Lord Abbett High Yield Fund) is High Yield Bonds fund managed by Lord Abbett. Over the past 10 years, NEA returned 3.01%/yr vs 4.52%/yr for LHYAX. At a 0.19 correlation, their price movements are largely independent. NEA charges 1.41%/yr vs 0.88%/yr for LHYAX.
Performance
NEA vs. LHYAX - Performance Comparison
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Returns By Period
In the year-to-date period, NEA achieves a 3.22% return, which is significantly higher than LHYAX's 1.54% return. Over the past 10 years, NEA has underperformed LHYAX with an annualized return of 3.01%, while LHYAX has yielded a comparatively higher 4.52% annualized return.
NEA
- 1D
- 0.61%
- 1M
- 3.54%
- YTD
- 3.22%
- 6M
- 3.85%
- 1Y
- 15.57%
- 3Y*
- 9.20%
- 5Y*
- -0.07%
- 10Y*
- 3.01%
LHYAX
- 1D
- 0.00%
- 1M
- 0.73%
- YTD
- 1.54%
- 6M
- 2.32%
- 1Y
- 7.44%
- 3Y*
- 7.49%
- 5Y*
- 2.23%
- 10Y*
- 4.52%
NEA vs. LHYAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NEA Nuveen AMT-Free Quality Municipal Income Fund | 3.22% | 11.31% | 9.50% | 0.75% | -23.32% | 8.16% | 10.07% | 22.42% | -5.72% | 8.77% |
LHYAX Lord Abbett High Yield Fund | 1.54% | 7.44% | 7.25% | 9.84% | -14.97% | 6.16% | 4.56% | 15.11% | -5.10% | 8.53% |
Correlation
The correlation between NEA and LHYAX is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Nov 22, 2002 | 0.19 |
The correlation between NEA and LHYAX shifts across timeframes, from 0.19 (all time) to 0.42 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
NEA vs. LHYAX — Risk / Return Rank
NEA
LHYAX
NEA vs. LHYAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen AMT-Free Quality Municipal Income Fund (NEA) and Lord Abbett High Yield Fund (LHYAX). 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.
| NEA | LHYAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.57 | ||
| Sortino ratioReturn per unit of downside risk | -1.29 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.47 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.15 | 2.48 | -0.33 |
| Martin ratioReturn relative to average drawdown | 8.57 | 11.07 | -2.50 |
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Drawdowns
NEA vs. LHYAX - Drawdown Comparison
The maximum NEA drawdown since its inception was -43.83%, which is greater than LHYAX's maximum drawdown of -31.68%. Use the drawdown chart below to compare losses from any high point for NEA and LHYAX.
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Drawdown Indicators
| NEA | LHYAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.83% | -31.68% | -12.15% |
Max Drawdown (1Y)Largest decline over 1 year | -7.27% | -3.02% | -4.25% |
Max Drawdown (3Y)Largest decline over 3 years | -15.16% | -4.87% | -10.29% |
Max Drawdown (5Y)Largest decline over 5 years | -36.57% | -18.67% | -17.90% |
Max Drawdown (10Y)Largest decline over 10 years | -36.57% | -24.23% | -12.34% |
Current DrawdownCurrent decline from peak | -4.02% | -0.32% | -3.70% |
Average DrawdownAverage peak-to-trough decline | -8.00% | -3.07% | -4.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.82% | 0.67% | +1.15% |
Volatility
NEA vs. LHYAX - Volatility Comparison
Nuveen AMT-Free Quality Municipal Income Fund (NEA) has a higher volatility of 2.67% compared to Lord Abbett High Yield Fund (LHYAX) at 0.97%. This indicates that NEA's price experiences larger fluctuations and is considered to be riskier than LHYAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NEA | LHYAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.67% | 0.97% | +1.70% |
Volatility (6M)Calculated over the trailing 6-month period | 8.67% | 2.82% | +5.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.72% | 3.67% | +7.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.52% | 5.09% | +6.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.82% | 5.73% | +6.09% |
NEA vs. LHYAX - Expense Ratio Comparison
NEA has a 1.41% expense ratio, which is higher than LHYAX's 0.88% expense ratio.
Dividends
NEA vs. LHYAX - Dividend Comparison
NEA's dividend yield for the trailing twelve months is around 7.13%, less than LHYAX's 7.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LHYAX Lord Abbett High Yield Fund | 7.22% | 7.13% | 6.02% | 5.84% | 4.60% | 4.91% | 5.15% | 5.47% | 6.29% | 5.65% | 5.85% | 6.08% |
NEA Nuveen AMT-Free Quality Municipal Income Fund | 7.13% | 7.36% | 6.63% | 3.95% | 5.49% | 4.50% | 4.45% | 4.46% | 5.40% | 5.33% | 5.70% | 5.71% |
Frequently Asked Questions
NEA and LHYAX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NEA has higher volatility (2.67%) compared to LHYAX (0.97%). In terms of maximum drawdown, NEA dropped -43.83% vs LHYAX's -31.68%.
LHYAX currently has the higher Sharpe Ratio (2.03 vs 1.46), 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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