NMAI vs. KKR

Last updated Jun 4, 2026

NMAI (Nuveen Multi-Asset Income Fund) is Global Allocation fund actively managed by Nuveen, while KKR (KKR & Co. Inc.) is a stock. Over the past 3 years, NMAI returned 20.22%/yr vs 19.90%/yr for KKR. A 0.55 correlation means they provide meaningful diversification when combined.

Performance

NMAI vs. KKR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Multi-Asset Income Fund (NMAI) and KKR & Co. Inc. (KKR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NMAI achieves a 11.74% return, which is significantly higher than KKR's -28.72% return.

NMAI

• 1D: -1.06%
• 1M: 1.84%
• YTD: 11.74%
• 6M: 10.96%
• 1Y: 24.69%
• 3Y*: 20.22%
• 5Y*: —
• 10Y*: —

KKR

• 1D: -4.15%
• 1M: -12.22%
• YTD: -28.72%
• 6M: -28.15%
• 1Y: -24.36%
• 3Y*: 19.90%
• 5Y*: 11.26%
• 10Y*: 22.99%

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

NMAI vs. KKR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
NMAI Nuveen Multi-Asset Income Fund	11.74%	20.03%	11.65%	19.52%	-26.38%	-1.71%
KKR KKR & Co. Inc.	-28.72%	-13.32%	79.65%	80.48%	-36.98%	-4.85%

Correlation

The correlation between NMAI and KKR is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (All Time) Calculated using the full available price history since Nov 23, 2021	0.55

Over the past year, the correlation between NMAI and KKR has dropped to 0.31 - well below their long-term average of 0.55, suggesting their price drivers have been diverging.

Return for Risk

NMAI vs. KKR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NMAI

NMAI Risk / Return Rank: 41
NMAI Sharpe Ratio Rank: 45
NMAI Sortino Ratio Rank: 39
NMAI Omega Ratio Rank: 46
NMAI Calmar Ratio Rank: 31
NMAI Martin Ratio Rank: 43

KKR

KKR Risk / Return Rank: 17
KKR Sharpe Ratio Rank: 13
KKR Sortino Ratio Rank: 14
KKR Omega Ratio Rank: 15
KKR Calmar Ratio Rank: 21
KKR Martin Ratio Rank: 20

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NMAI vs. KKR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Multi-Asset Income Fund (NMAI) and KKR & Co. Inc. (KKR). 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.

	NMAI	KKR	Difference
Sharpe ratio: Return per unit of total volatility	1.96	-0.66	+2.63
Sortino ratio: Return per unit of downside risk	2.64	-0.76	+3.41
Omega ratio: Gain probability vs. loss probability	1.37	0.91	+0.46
Calmar ratio: Return relative to maximum drawdown	2.09	-0.55	+2.64
Martin ratio: Return relative to average drawdown	9.00	-1.02	+10.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NMAI vs. KKR - Sharpe Ratio Comparison

The current NMAI Sharpe Ratio is 1.96, which is higher than the KKR Sharpe Ratio of -0.66. The chart below compares the historical Sharpe Ratios of NMAI and KKR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NMAI	KKR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.96	-0.66	+2.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.29	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.63	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.53	-0.18

Drawdowns

NMAI vs. KKR - Drawdown Comparison

The maximum NMAI drawdown since its inception was -35.61%, smaller than the maximum KKR drawdown of -53.10%. Use the drawdown chart below to compare losses from any high point for NMAI and KKR.

Drawdown Indicators

	NMAI	KKR	Difference
Max Drawdown Largest peak-to-trough decline	-35.61%	-53.10%	+17.49%
Max Drawdown (1Y) Largest decline over 1 year	-11.88%	-44.62%	+32.74%
Max Drawdown (3Y) Largest decline over 3 years	-13.05%	-49.42%	+36.37%
Max Drawdown (5Y) Largest decline over 5 years	—	-49.42%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-49.42%	—
Current Drawdown Current decline from peak	-1.83%	-45.30%	+43.47%
Average Drawdown Average peak-to-trough decline	-12.55%	-16.16%	+3.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	23.86%	-21.11%

Volatility

NMAI vs. KKR - Volatility Comparison

The current volatility for Nuveen Multi-Asset Income Fund (NMAI) is 3.97%, while KKR & Co. Inc. (KKR) has a volatility of 8.20%. This indicates that NMAI experiences smaller price fluctuations and is considered to be less risky than KKR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NMAI	KKR	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.97%	8.20%	-4.23%
Volatility (6M) Calculated over the trailing 6-month period	10.70%	29.43%	-18.73%
Volatility (1Y) Calculated over the trailing 1-year period	12.63%	36.84%	-24.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.58%	39.16%	-22.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.58%	36.61%	-20.03%

Dividends

NMAI vs. KKR - Dividend Comparison

NMAI's dividend yield for the trailing twelve months is around 10.40%, more than KKR's 0.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KKR KKR & Co. Inc.	0.83%	0.57%	0.47%	0.78%	1.31%	0.77%	1.31%	1.71%	3.23%	3.18%	4.16%	10.13%
NMAI Nuveen Multi-Asset Income Fund	10.40%	9.89%	13.73%	10.57%	19.45%	1.88%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NMAI and KKR in my portfolio?

NMAI and KKR have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NMAI or KKR?

KKR has higher volatility (8.20%) compared to NMAI (3.97%). In terms of maximum drawdown, NMAI dropped -35.61% vs KKR's -53.10%.

Which has better risk-adjusted returns?

NMAI currently has the higher Sharpe Ratio (1.96 vs -0.66), 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.