NHMAX vs. FASEX
NHMAX (Nuveen High Yield Municipal Bond Fund Class A) and FASEX (Nuveen Mid Cap Value Fund) are both mutual funds - NHMAX is a High Yield Muni fund actively managed by Nuveen, while FASEX is a Mid Cap Value Equities fund managed by Nuveen. Over the past 10 years, NHMAX returned 3.34%/yr vs 11.30%/yr for FASEX. At a correlation of -0.01, they often move in opposite directions. NHMAX charges 2.00%/yr vs 1.16%/yr for FASEX.
Performance
NHMAX vs. FASEX - Performance Comparison
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Returns By Period
In the year-to-date period, NHMAX achieves a 3.38% return, which is significantly lower than FASEX's 19.73% return. Over the past 10 years, NHMAX has underperformed FASEX with an annualized return of 3.34%, while FASEX has yielded a comparatively higher 11.30% annualized return.
NHMAX
- 1D
- 0.07%
- 1M
- 2.51%
- YTD
- 3.38%
- 6M
- 4.00%
- 1Y
- 9.06%
- 3Y*
- 4.70%
- 5Y*
- 0.76%
- 10Y*
- 3.34%
FASEX
- 1D
- 0.79%
- 1M
- 3.49%
- YTD
- 19.73%
- 6M
- 18.08%
- 1Y
- 32.90%
- 3Y*
- 16.10%
- 5Y*
- 10.83%
- 10Y*
- 11.30%
NHMAX vs. FASEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NHMAX Nuveen High Yield Municipal Bond Fund Class A | 3.38% | 2.51% | 5.36% | 6.96% | -15.14% | 9.71% | 3.03% | 11.96% | 1.79% | 11.90% |
FASEX Nuveen Mid Cap Value Fund | 19.73% | 9.68% | 10.40% | 14.20% | -10.63% | 34.84% | 1.19% | 26.68% | -13.00% | 19.23% |
Correlation
The correlation between NHMAX and FASEX is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Jun 7, 1999 | -0.01 |
The correlation between NHMAX and FASEX shifts across timeframes, from -0.01 (all time) to 0.20 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
NHMAX vs. FASEX — Risk / Return Rank
NHMAX
FASEX
NHMAX vs. FASEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen High Yield Municipal Bond Fund Class A (NHMAX) and Nuveen Mid Cap Value Fund (FASEX). 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.
| NHMAX | FASEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.32 | ||
| Sortino ratioReturn per unit of downside risk | -0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.41 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.55 | 4.55 | -1.99 |
| Martin ratioReturn relative to average drawdown | 7.58 | 16.56 | -8.98 |
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Drawdowns
NHMAX vs. FASEX - Drawdown Comparison
The maximum NHMAX drawdown since its inception was -45.60%, smaller than the maximum FASEX drawdown of -55.57%. Use the drawdown chart below to compare losses from any high point for NHMAX and FASEX.
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Drawdown Indicators
| NHMAX | FASEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.60% | -55.57% | +9.97% |
Max Drawdown (1Y)Largest decline over 1 year | -3.58% | -7.37% | +3.79% |
Max Drawdown (3Y)Largest decline over 3 years | -10.29% | -22.26% | +11.97% |
Max Drawdown (5Y)Largest decline over 5 years | -21.65% | -22.26% | +0.61% |
Max Drawdown (10Y)Largest decline over 10 years | -22.22% | -44.56% | +22.34% |
Current DrawdownCurrent decline from peak | 0.00% | -0.06% | +0.06% |
Average DrawdownAverage peak-to-trough decline | -5.48% | -8.92% | +3.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.20% | 2.01% | -0.81% |
Volatility
NHMAX vs. FASEX - Volatility Comparison
The current volatility for Nuveen High Yield Municipal Bond Fund Class A (NHMAX) is 1.10%, while Nuveen Mid Cap Value Fund (FASEX) has a volatility of 4.30%. This indicates that NHMAX experiences smaller price fluctuations and is considered to be less risky than FASEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NHMAX | FASEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 4.30% | -3.20% |
Volatility (6M)Calculated over the trailing 6-month period | 3.05% | 10.44% | -7.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.40% | 13.95% | -9.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.83% | 18.08% | -11.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.69% | 20.22% | -13.53% |
NHMAX vs. FASEX - Expense Ratio Comparison
NHMAX has a 2.00% expense ratio, which is higher than FASEX's 1.16% expense ratio.
Dividends
NHMAX vs. FASEX - Dividend Comparison
NHMAX's dividend yield for the trailing twelve months is around 5.40%, less than FASEX's 12.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FASEX Nuveen Mid Cap Value Fund | 12.25% | 14.67% | 5.29% | 3.12% | 6.32% | 4.02% | 1.06% | 0.89% | 4.48% | 7.93% | 3.67% | 3.49% |
NHMAX Nuveen High Yield Municipal Bond Fund Class A | 5.40% | 5.84% | 5.54% | 7.10% | 5.41% | 4.49% | 4.83% | 4.77% | 5.26% | 5.20% | 5.61% | 5.39% |
Frequently Asked Questions
NHMAX and FASEX have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FASEX has higher volatility (4.30%) compared to NHMAX (1.10%). In terms of maximum drawdown, NHMAX dropped -45.60% vs FASEX's -55.57%.
FASEX currently has the higher Sharpe Ratio (2.40 vs 2.08), 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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