NEA vs. NVG
NEA (Nuveen AMT-Free Quality Municipal Income Fund) and NVG (Nuveen AMT-Free Municipal Credit Income Fund) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 10 years, NEA returned 3.03%/yr vs 3.56%/yr for NVG. At a 0.48 correlation, their price movements are largely independent. NEA charges 1.41%/yr vs 1.50%/yr for NVG.
Performance
NEA vs. NVG - Performance Comparison
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Returns By Period
In the year-to-date period, NEA achieves a 3.13% return, which is significantly lower than NVG's 4.59% return. Over the past 10 years, NEA has underperformed NVG with an annualized return of 3.03%, while NVG has yielded a comparatively higher 3.56% annualized return.
NEA
- 1D
- 0.00%
- 1M
- 0.85%
- 6M
- 2.08%
- YTD
- 3.13%
- 1Y
- 13.06%
- 3Y*
- 9.02%
- 5Y*
- -0.60%
- 10Y*
- 3.03%
NVG
- 1D
- -0.08%
- 1M
- 1.42%
- 6M
- 3.44%
- YTD
- 4.59%
- 1Y
- 15.45%
- 3Y*
- 10.39%
- 5Y*
- -0.59%
- 10Y*
- 3.56%
NEA vs. NVG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NEA Nuveen AMT-Free Quality Municipal Income Fund | 3.13% | 11.31% | 9.50% | 0.75% | -23.32% | 8.16% | 10.07% | 22.42% | -5.72% | 8.77% |
NVG Nuveen AMT-Free Municipal Credit Income Fund | 4.59% | 11.61% | 10.79% | 1.94% | -28.47% | 12.14% | 6.40% | 25.63% | -4.03% | 13.19% |
Correlation
The correlation between NEA and NVG is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Nov 22, 2002 | 0.48 |
Over the past year, NEA and NVG have become more correlated (0.73) than their long-term average of 0.48, meaning their price movements have been converging.
Fundamentals
NEA:
$3.46B
NVG:
$2.75B
NEA:
$0.80
NVG:
$1.09
NEA:
14.39
NVG:
11.68
NEA:
0.04
NVG:
0.02
NEA:
6.85
NVG:
5.98
NEA:
1.00
NVG:
1.01
NEA:
$507.00M
NVG:
$457.21M
NEA:
$445.06M
NVG:
$400.60M
NEA:
$528.27M
NVG:
$440.83M
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Return for Risk
NEA vs. NVG — Risk / Return Rank
NEA
NVG
NEA vs. NVG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen AMT-Free Quality Municipal Income Fund (NEA) and Nuveen AMT-Free Municipal Credit Income Fund (NVG). 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 | NVG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.25 | ||
| Sortino ratioReturn per unit of downside risk | -0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.28 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.80 | 1.49 | +0.32 |
| Martin ratioReturn relative to average drawdown | 7.20 | 4.72 | +2.48 |
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Drawdowns
NEA vs. NVG - Drawdown Comparison
The maximum NEA drawdown since its inception was -43.83%, which is greater than NVG's maximum drawdown of -41.72%. Use the drawdown chart below to compare losses from any high point for NEA and NVG.
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Drawdown Indicators
| NEA | NVG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.83% | -41.72% | -2.11% |
Max Drawdown (1Y)Largest decline over 1 year | -7.27% | -10.44% | +3.17% |
Max Drawdown (3Y)Largest decline over 3 years | -15.16% | -17.22% | +2.06% |
Max Drawdown (5Y)Largest decline over 5 years | -36.57% | -40.58% | +4.01% |
Max Drawdown (10Y)Largest decline over 10 years | -36.57% | -40.58% | +4.01% |
Current DrawdownCurrent decline from peak | -4.11% | -5.70% | +1.59% |
Average DrawdownAverage peak-to-trough decline | -7.99% | -7.91% | -0.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.83% | 3.28% | -1.45% |
Volatility
NEA vs. NVG - Volatility Comparison
Nuveen AMT-Free Quality Municipal Income Fund (NEA) has a higher volatility of 2.15% compared to Nuveen AMT-Free Municipal Credit Income Fund (NVG) at 1.88%. This indicates that NEA's price experiences larger fluctuations and is considered to be riskier than NVG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NEA | NVG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.15% | 1.88% | +0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 8.67% | 8.88% | -0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.80% | 10.57% | +0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.51% | 13.08% | -1.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.81% | 12.88% | -1.07% |
NEA vs. NVG - Expense Ratio Comparison
NEA has a 1.41% expense ratio, which is lower than NVG's 1.50% expense ratio.
Dividends
NEA vs. NVG - Dividend Comparison
NEA's dividend yield for the trailing twelve months is around 7.13%, less than NVG's 7.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
NVG Nuveen AMT-Free Municipal Credit Income Fund | 7.43% | 7.49% | 6.74% | 4.45% | 6.18% | 4.69% | 5.24% | 4.94% | 6.07% | 5.67% | 6.17% | 5.46% |
Financials
NEA vs. NVG - Financials Comparison
This section allows you to compare key financial metrics between Nuveen AMT-Free Quality Municipal Income Fund and Nuveen AMT-Free Municipal Credit Income Fund. 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
NEA vs. NVG - Profitability Comparison
NEA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Nuveen AMT-Free Quality Municipal Income Fund reported a gross profit of 116.19M and revenue of 132.50M. Therefore, the gross margin over that period was 87.7%.
NVG - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Nuveen AMT-Free Municipal Credit Income Fund reported a gross profit of 100.36M and revenue of 114.86M. Therefore, the gross margin over that period was 87.4%.
NEA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Nuveen AMT-Free Quality Municipal Income Fund reported an operating income of 79.07M and revenue of 132.50M, resulting in an operating margin of 59.7%.
NVG - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Nuveen AMT-Free Municipal Credit Income Fund reported an operating income of 67.53M and revenue of 114.86M, resulting in an operating margin of 58.8%.
NEA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Nuveen AMT-Free Quality Municipal Income Fund reported a net income of 39.90M and revenue of 132.50M, resulting in a net margin of 30.1%.
NVG - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Nuveen AMT-Free Municipal Credit Income Fund reported a net income of 35.82M and revenue of 114.86M, resulting in a net margin of 31.2%.
Frequently Asked Questions
NEA and NVG have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NEA has higher volatility (2.15%) compared to NVG (1.88%). In terms of maximum drawdown, NEA dropped -43.83% vs NVG's -41.72%.
NVG currently has the higher Sharpe Ratio (1.47 vs 1.22), 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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