NMCO vs. JQC
NMCO (Nuveen Municipal Credit Opportunities Fund) and JQC (Nuveen Credit Strategies Income Fund) are both mutual funds - NMCO is a High Yield Muni fund managed by Nuveen, while JQC is a Bank Loan fund managed by Nuveen. Over the past 5 years, NMCO returned -1.14%/yr vs 4.95%/yr for JQC. At a 0.22 correlation, their price movements are largely independent. NMCO charges 0.04%/yr vs 4.34%/yr for JQC.
Performance
NMCO vs. JQC - Performance Comparison
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Returns By Period
In the year-to-date period, NMCO achieves a 10.50% return, which is significantly higher than JQC's 1.76% return.
NMCO
- 1D
- -0.37%
- 1M
- 1.76%
- 6M
- 6.76%
- YTD
- 10.50%
- 1Y
- 14.33%
- 3Y*
- 6.69%
- 5Y*
- -1.14%
- 10Y*
- —
JQC
- 1D
- -0.63%
- 1M
- 0.41%
- 6M
- -0.10%
- YTD
- 1.76%
- 1Y
- -1.11%
- 3Y*
- 10.59%
- 5Y*
- 4.95%
- 10Y*
- 5.80%
NMCO vs. JQC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
NMCO Nuveen Municipal Credit Opportunities Fund | 10.50% | 4.18% | 13.64% | -4.19% | -25.66% | 26.98% | -11.55% | 4.14% |
JQC Nuveen Credit Strategies Income Fund | 1.76% | -0.36% | 22.29% | 15.26% | -14.22% | 13.29% | -2.96% | 6.22% |
Correlation
The correlation between NMCO and JQC is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Sep 17, 2019 | 0.22 |
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Return for Risk
NMCO vs. JQC — Risk / Return Rank
NMCO
JQC
NMCO vs. JQC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Municipal Credit Opportunities Fund (NMCO) and Nuveen Credit Strategies Income Fund (JQC). 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.
| NMCO | JQC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.78 | ||
| Sortino ratioReturn per unit of downside risk | +2.47 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 0.99 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 2.47 | -0.11 | +2.58 |
| Martin ratioReturn relative to average drawdown | 7.96 | -0.21 | +8.17 |
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Drawdowns
NMCO vs. JQC - Drawdown Comparison
The maximum NMCO drawdown since its inception was -42.03%, smaller than the maximum JQC drawdown of -75.18%. Use the drawdown chart below to compare losses from any high point for NMCO and JQC.
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Drawdown Indicators
| NMCO | JQC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.03% | -75.18% | +33.15% |
Max Drawdown (1Y)Largest decline over 1 year | -5.83% | -10.15% | +4.32% |
Max Drawdown (3Y)Largest decline over 3 years | -24.35% | -15.37% | -8.98% |
Max Drawdown (5Y)Largest decline over 5 years | -39.82% | -19.83% | -19.99% |
Max Drawdown (10Y)Largest decline over 10 years | — | -47.99% | — |
Current DrawdownCurrent decline from peak | -8.09% | -4.37% | -3.72% |
Average DrawdownAverage peak-to-trough decline | -15.91% | -8.79% | -7.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.82% | 5.25% | -3.43% |
Volatility
NMCO vs. JQC - Volatility Comparison
The current volatility for Nuveen Municipal Credit Opportunities Fund (NMCO) is 1.58%, while Nuveen Credit Strategies Income Fund (JQC) has a volatility of 1.83%. This indicates that NMCO experiences smaller price fluctuations and is considered to be less risky than JQC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NMCO | JQC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.58% | 1.83% | -0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 5.38% | 8.66% | -3.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.60% | 11.17% | -2.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.97% | 13.12% | +0.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.34% | 17.51% | +1.83% |
NMCO vs. JQC - Expense Ratio Comparison
NMCO has a 0.04% expense ratio, which is lower than JQC's 4.34% expense ratio.
Dividends
NMCO vs. JQC - Dividend Comparison
NMCO's dividend yield for the trailing twelve months is around 7.60%, less than JQC's 13.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JQC Nuveen Credit Strategies Income Fund | 13.17% | 12.91% | 11.39% | 11.42% | 9.71% | 10.03% | 16.11% | 16.14% | 6.53% | 7.42% | 6.99% | 7.51% |
NMCO Nuveen Municipal Credit Opportunities Fund | 7.60% | 8.04% | 6.79% | 5.96% | 6.65% | 4.75% | 5.57% | 0.83% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NMCO and JQC have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JQC has higher volatility (1.83%) compared to NMCO (1.58%). In terms of maximum drawdown, NMCO dropped -42.03% vs JQC's -75.18%.
NMCO currently has the higher Sharpe Ratio (1.68 vs -0.10), 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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