NIM vs. JPC

Last updated Aug 1, 2026

NIM (Nuveen Select Maturities Municipal Fund) and JPC (Nuveen Preferred and Income Opportunities Fund) are both mutual funds - NIM is a Municipal Bonds fund managed by Nuveen, while JPC is a Preferred Stock fund managed by Nuveen. Over the past 10 years, NIM returned 1.51%/yr vs 5.28%/yr for JPC. Their 0.16 correlation means their historical movements had little consistent relationship. NIM charges 0.03%/yr vs 0.01%/yr for JPC.

Performance

NIM vs. JPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Select Maturities Municipal Fund (NIM) and Nuveen Preferred and Income Opportunities Fund (JPC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NIM achieves a 0.52% return, which is significantly higher than JPC's 0.17% return. Over the past 10 years, NIM has underperformed JPC with an annualized return of 1.51%, while JPC has yielded a comparatively higher 5.28% annualized return.

NIM

• 1D: -0.33%
• 1M: -2.05%
• 6M: -1.25%
• YTD: 0.52%
• 1Y: 4.20%
• 3Y*: 4.44%
• 5Y*: -0.19%
• 10Y*: 1.51%
• ALL TIME*: 2.98%

JPC

• 1D: 0.26%
• 1M: -1.51%
• 6M: -1.20%
• YTD: 0.17%
• 1Y: 5.09%
• 3Y*: 15.61%
• 5Y*: 3.53%
• 10Y*: 5.28%
• ALL TIME*: 6.14%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
JPC Nuveen Preferred and Income Opportunities Fund	$6.41M	$6.24M	$7.03M
NIM Nuveen Select Maturities Municipal Fund	$150.94K	$144.05K	$153.55K

NIM vs. JPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NIM Nuveen Select Maturities Municipal Fund	0.52%	10.88%	2.74%	0.75%	-12.95%	2.95%	5.44%	12.77%	-0.49%	5.40%
JPC Nuveen Preferred and Income Opportunities Fund	0.17%	14.00%	27.58%	0.75%	-19.18%	9.75%	-2.09%	35.25%	-12.70%	13.35%

Correlation

The correlation between NIM and JPC is 0.26, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.26
Correlation (3Y) Balances recent behavior with more history.	0.33
Correlation (5Y) Shows whether the relationship held over a longer period.	0.27
Correlation (10Y) Provides a long-term view across more market conditions.	0.22
Correlation (All Time) Calculated using the full available price history since Mar 31, 2003	0.16

The correlation between NIM and JPC shifts across timeframes, from 0.16 (all time) to 0.33 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

NIM vs. JPC — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NIM

NIM Risk / Return Rank: 12
NIM Sharpe Ratio Rank: 13
NIM Sortino Ratio Rank: 12
NIM Omega Ratio Rank: 13
NIM Calmar Ratio Rank: 14
NIM Martin Ratio Rank: 11

JPC

JPC Risk / Return Rank: 12
JPC Sharpe Ratio Rank: 11
JPC Sortino Ratio Rank: 11
JPC Omega Ratio Rank: 13
JPC Calmar Ratio Rank: 10
JPC Martin Ratio Rank: 16

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NIM vs. JPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Select Maturities Municipal Fund (NIM) and Nuveen Preferred and Income Opportunities Fund (JPC). 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.

	NIM	JPC	Difference
Sharpe ratio: Return per unit of total volatility	0.53	0.42	+0.11
Sortino ratio: Return per unit of downside risk	0.78	0.68	+0.10
Omega ratio: Gain probability vs. loss probability	1.10	1.10	+0.01
Calmar ratio: Return relative to maximum drawdown	0.72	0.42	+0.29
Martin ratio: Return relative to average drawdown	1.58	2.11	-0.53

NIM vs. JPC - Sharpe Ratio Comparison

The current NIM Sharpe Ratio is 0.53, which is comparable to the JPC Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of NIM and JPC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NIM vs. JPC - Drawdown Comparison

The maximum NIM drawdown since its inception was -23.09%, smaller than the maximum JPC drawdown of -76.07%. Use the drawdown chart below to compare losses from any high point for NIM and JPC.

Drawdown Indicators

	NIM	JPC	Difference
Max Drawdown Largest peak-to-trough decline	-23.09%	-76.07%	+52.98%
Max Drawdown (1Y) Largest decline over 1 year	-6.67%	-11.43%	+4.76%
Max Drawdown (3Y) Largest decline over 3 years	-6.83%	-11.65%	+4.82%
Max Drawdown (5Y) Largest decline over 5 years	-19.96%	-32.26%	+12.30%
Max Drawdown (10Y) Largest decline over 10 years	-19.96%	-52.53%	+32.57%
Current Drawdown Current decline from peak	-5.99%	-3.02%	-2.97%
Average Drawdown Average peak-to-trough decline	-5.92%	-9.89%	+3.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.02%	2.29%	+0.73%

Volatility

NIM vs. JPC - Volatility Comparison

Nuveen Select Maturities Municipal Fund (NIM) has a higher volatility of 2.58% compared to Nuveen Preferred and Income Opportunities Fund (JPC) at 1.86%. This indicates that NIM's price experiences larger fluctuations and is considered to be riskier than JPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NIM	JPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.58%	1.86%	+0.72%
Volatility (6M) Calculated over the trailing 6-month period	7.31%	10.05%	-2.74%
Volatility (1Y) Calculated over the trailing 1-year period	9.01%	11.42%	-2.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.60%	14.52%	-3.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.78%	20.60%	-9.82%

NIM vs. JPC - Expense Ratio Comparison

NIM has a 0.03% expense ratio, which is higher than JPC's 0.01% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

NIM vs. JPC - Dividend Comparison

NIM's dividend yield for the trailing twelve months is around 3.78%, less than JPC's 9.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JPC Nuveen Preferred and Income Opportunities Fund	9.96%	9.79%	8.94%	8.00%	8.74%	6.52%	6.95%	7.00%	9.02%	7.50%	8.14%	8.65%
NIM Nuveen Select Maturities Municipal Fund	3.78%	3.61%	4.10%	3.49%	2.88%	2.69%	3.42%	3.03%	3.27%	3.15%	3.23%	3.27%

Frequently Asked Questions

Can I hold both NIM and JPC in my portfolio?

NIM and JPC have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NIM or JPC?

NIM has higher volatility (2.58%) compared to JPC (1.86%). In terms of maximum drawdown, NIM dropped -23.09% vs JPC's -76.07%.

Which has better risk-adjusted returns?

NIM currently has the higher Sharpe Ratio (0.53 vs 0.42), 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.