NIM vs. PCQ
NIM (Nuveen Select Maturities Municipal Fund) and PCQ (PIMCO California Municipal Income Fund) are both Municipal Bonds funds. Over the past 10 years, NIM returned 1.51%/yr vs -2.10%/yr for PCQ. Their 0.17 correlation means their historical movements had little consistent relationship.
Performance
NIM vs. PCQ - Performance Comparison
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Returns By Period
In the year-to-date period, NIM achieves a 0.52% return, which is significantly lower than PCQ's 1.23% return. Over the past 10 years, NIM has outperformed PCQ with an annualized return of 1.51%, while PCQ has yielded a comparatively lower -2.10% 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%
PCQ
- 1D
- 0.23%
- 1M
- -4.17%
- 6M
- -2.10%
- YTD
- 1.23%
- 1Y
- 8.32%
- 3Y*
- -1.24%
- 5Y*
- -10.61%
- 10Y*
- -2.10%
- ALL TIME*
- 3.67%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $150.94K | $144.05K | $153.55K | |
| $1.32M | $1.24M | $1.19M |
NIM vs. PCQ - 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% |
PCQ PIMCO California Municipal Income Fund | 1.23% | 1.50% | 1.48% | -35.36% | -14.66% | 7.73% | -5.23% | 29.18% | -0.96% | 16.34% |
Correlation
The correlation between NIM and PCQ is 0.29, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.29 |
Correlation (3Y) Balances recent behavior with more history. | 0.36 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.29 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.21 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2001 | 0.17 |
The correlation between NIM and PCQ shifts across timeframes, from 0.17 (all time) to 0.36 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
NIM vs. PCQ — Risk / Return Rank
NIM
PCQ
NIM vs. PCQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Select Maturities Municipal Fund (NIM) and PIMCO California Municipal Income Fund (PCQ). 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 | PCQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.65 | ||
| Sortino ratioReturn per unit of downside risk | -0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.21 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.72 | 1.24 | -0.52 |
| Martin ratioReturn relative to average drawdown | 1.58 | 3.83 | -2.25 |
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Drawdowns
NIM vs. PCQ - Drawdown Comparison
The maximum NIM drawdown since its inception was -23.09%, smaller than the maximum PCQ drawdown of -56.31%. Use the drawdown chart below to compare losses from any high point for NIM and PCQ.
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Drawdown Indicators
| NIM | PCQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.09% | -56.31% | +33.22% |
Max Drawdown (1Y)Largest decline over 1 year | -6.67% | -7.48% | +0.81% |
Max Drawdown (3Y)Largest decline over 3 years | -6.83% | -17.41% | +10.58% |
Max Drawdown (5Y)Largest decline over 5 years | -19.96% | -54.86% | +34.90% |
Max Drawdown (10Y)Largest decline over 10 years | -19.96% | -54.86% | +34.90% |
Current DrawdownCurrent decline from peak | -5.99% | -46.11% | +40.12% |
Average DrawdownAverage peak-to-trough decline | -5.92% | -12.85% | +6.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.02% | 2.41% | +0.61% |
Volatility
NIM vs. PCQ - Volatility Comparison
Nuveen Select Maturities Municipal Fund (NIM) has a higher volatility of 2.58% compared to PIMCO California Municipal Income Fund (PCQ) at 2.36%. This indicates that NIM's price experiences larger fluctuations and is considered to be riskier than PCQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NIM | PCQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.58% | 2.36% | +0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 7.31% | 6.32% | +0.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.01% | 7.85% | +1.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.60% | 16.52% | -5.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.78% | 16.83% | -6.05% |
Dividends
NIM vs. PCQ - Dividend Comparison
NIM's dividend yield for the trailing twelve months is around 3.78%, less than PCQ's 5.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
PCQ PIMCO California Municipal Income Fund | 5.03% | 4.95% | 4.78% | 4.64% | 5.29% | 4.20% | 4.39% | 4.65% | 5.72% | 5.35% | 5.89% | 5.89% |
Frequently Asked Questions
NIM and PCQ have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NIM has higher volatility (2.58%) compared to PCQ (2.36%). In terms of maximum drawdown, NIM dropped -23.09% vs PCQ's -56.31%.
PCQ currently has the higher Sharpe Ratio (1.18 vs 0.53), 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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