NHMAX vs. SRHMX
NHMAX (Nuveen High Yield Municipal Bond Fund Class A) and SRHMX (Columbia High Yield Municipal Fund) are both High Yield Muni funds. Over the past 10 years, NHMAX returned 3.04%/yr vs 2.51%/yr for SRHMX. Their 0.75 correlation means they have sometimes moved together and sometimes differently. NHMAX charges 2.00%/yr vs 0.65%/yr for SRHMX.
Performance
NHMAX vs. SRHMX - Performance Comparison
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Returns By Period
In the year-to-date period, NHMAX achieves a 1.76% return, which is significantly lower than SRHMX's 2.33% return. Over the past 10 years, NHMAX has outperformed SRHMX with an annualized return of 3.04%, while SRHMX has yielded a comparatively lower 2.51% annualized return.
NHMAX
- 1D
- -0.42%
- 1M
- -2.55%
- 6M
- 1.15%
- YTD
- 1.76%
- 1Y
- 8.76%
- 3Y*
- 4.50%
- 5Y*
- 0.20%
- 10Y*
- 3.04%
- ALL TIME*
- 4.54%
SRHMX
- 1D
- -0.33%
- 1M
- -1.95%
- 6M
- 1.48%
- YTD
- 2.33%
- 1Y
- 8.00%
- 3Y*
- 5.80%
- 5Y*
- 0.26%
- 10Y*
- 2.51%
- ALL TIME*
- 4.30%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
NHMAX vs. SRHMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NHMAX Nuveen High Yield Municipal Bond Fund Class A | 1.76% | 2.51% | 5.36% | 6.96% | -15.14% | 9.71% | 3.03% | 11.96% | 1.79% | 11.90% |
SRHMX Columbia High Yield Municipal Fund | 2.33% | 4.36% | 7.72% | 6.63% | -17.44% | 6.57% | 3.75% | 9.05% | 2.43% | 7.05% |
Correlation
The correlation between NHMAX and SRHMX is 0.84, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.84 |
Correlation (3Y) Balances recent behavior with more history. | 0.88 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.89 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.85 |
Correlation (All Time) Calculated using the full available price history since Jun 7, 1999 | 0.75 |
The correlation between NHMAX and SRHMX shifts across timeframes, from 0.75 (all time) to 0.89 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
NHMAX vs. SRHMX — Risk / Return Rank
NHMAX
SRHMX
NHMAX vs. SRHMX - 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 Columbia High Yield Municipal Fund (SRHMX). 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 | SRHMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.68 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.75 | 3.44 | -0.69 |
| Martin ratioReturn relative to average drawdown | 10.02 | 13.99 | -3.97 |
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Drawdowns
NHMAX vs. SRHMX - Drawdown Comparison
The maximum NHMAX drawdown since its inception was -45.60%, which is greater than SRHMX's maximum drawdown of -26.04%. Use the drawdown chart below to compare losses from any high point for NHMAX and SRHMX.
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Drawdown Indicators
| NHMAX | SRHMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.60% | -26.04% | -19.56% |
Max Drawdown (1Y)Largest decline over 1 year | -3.58% | -2.72% | -0.86% |
Max Drawdown (3Y)Largest decline over 3 years | -8.93% | -7.94% | -0.99% |
Max Drawdown (5Y)Largest decline over 5 years | -21.65% | -22.59% | +0.94% |
Max Drawdown (10Y)Largest decline over 10 years | -22.22% | -22.59% | +0.37% |
Current DrawdownCurrent decline from peak | -2.55% | -1.95% | -0.60% |
Average DrawdownAverage peak-to-trough decline | -5.46% | -2.98% | -2.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.98% | 0.66% | +0.32% |
Volatility
NHMAX vs. SRHMX - Volatility Comparison
Nuveen High Yield Municipal Bond Fund Class A (NHMAX) and Columbia High Yield Municipal Fund (SRHMX) have volatilities of 1.22% and 1.26%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NHMAX | SRHMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.22% | 1.26% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 3.28% | 2.76% | +0.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.29% | 3.51% | +0.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.85% | 5.93% | +0.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.70% | 5.63% | +1.07% |
NHMAX vs. SRHMX - Expense Ratio Comparison
NHMAX has a 2.00% expense ratio, which is higher than SRHMX's 0.65% expense ratio.
Dividends
NHMAX vs. SRHMX - Dividend Comparison
NHMAX's dividend yield for the trailing twelve months is around 5.05%, more than SRHMX's 4.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NHMAX Nuveen High Yield Municipal Bond Fund Class A | 5.05% | 5.84% | 5.54% | 7.10% | 5.41% | 4.49% | 4.83% | 4.77% | 5.26% | 5.20% | 5.61% | 5.39% |
SRHMX Columbia High Yield Municipal Fund | 4.32% | 5.65% | 4.79% | 4.30% | 4.46% | 3.40% | 3.83% | 4.55% | 5.10% | 4.30% | 4.56% | 4.55% |
Frequently Asked Questions
NHMAX and SRHMX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SRHMX has higher volatility (1.26%) compared to NHMAX (1.22%). In terms of maximum drawdown, NHMAX dropped -45.60% vs SRHMX's -26.04%.
SRHMX currently has the higher Sharpe Ratio (2.67 vs 2.29), 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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