NMI vs. CBTAX
Compare and contrast key facts about Nuveen Municipal Income Fund, Inc. (NMI) and Six Circles Tax Aware Bond Fund (CBTAX).
NMI is managed by Nuveen. It was launched on Apr 20, 1998. CBTAX is managed by Six Circles. It was launched on May 18, 2020.
Performance
NMI vs. CBTAX - Performance Comparison
Loading graphics...
NMI vs. CBTAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
NMI Nuveen Municipal Income Fund, Inc. | 5.52% | 10.52% | 7.03% | 1.90% | -15.09% | 3.86% | 13.32% |
CBTAX Six Circles Tax Aware Bond Fund | -0.26% | 4.13% | 2.38% | 6.35% | -7.47% | 0.89% | 5.02% |
Returns By Period
In the year-to-date period, NMI achieves a 5.52% return, which is significantly higher than CBTAX's -0.26% return.
NMI
- 1D
- -0.86%
- 1M
- 3.79%
- YTD
- 5.52%
- 6M
- 6.73%
- 1Y
- 10.11%
- 3Y*
- 8.16%
- 5Y*
- 2.04%
- 10Y*
- 2.30%
CBTAX
- 1D
- 0.31%
- 1M
- -2.01%
- YTD
- -0.26%
- 6M
- 1.04%
- 1Y
- 3.71%
- 3Y*
- 3.32%
- 5Y*
- 1.19%
- 10Y*
- —
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
NMI vs. CBTAX - Expense Ratio Comparison
NMI has a 0.72% expense ratio, which is higher than CBTAX's 0.14% expense ratio.
Return for Risk
NMI vs. CBTAX — Risk / Return Rank
NMI
CBTAX
NMI vs. CBTAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Municipal Income Fund, Inc. (NMI) and Six Circles Tax Aware Bond Fund (CBTAX). 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.
| NMI | CBTAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.84 | 0.96 | -0.12 |
Sortino ratioReturn per unit of downside risk | 1.49 | 1.28 | +0.22 |
Omega ratioGain probability vs. loss probability | 1.21 | 1.28 | -0.06 |
Calmar ratioReturn relative to maximum drawdown | 1.17 | 1.06 | +0.11 |
Martin ratioReturn relative to average drawdown | 2.37 | 3.83 | -1.46 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| NMI | CBTAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.84 | 0.96 | -0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | 0.35 | -0.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.16 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.56 | -0.22 |
Correlation
The correlation between NMI and CBTAX is 0.25, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
NMI vs. CBTAX - Dividend Comparison
NMI's dividend yield for the trailing twelve months is around 4.40%, more than CBTAX's 3.23% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NMI Nuveen Municipal Income Fund, Inc. | 4.40% | 4.59% | 4.63% | 4.04% | 3.51% | 3.22% | 3.53% | 4.15% | 5.12% | 4.21% | 4.45% | 4.28% |
CBTAX Six Circles Tax Aware Bond Fund | 3.23% | 3.49% | 3.28% | 2.68% | 1.57% | 0.88% | 0.49% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
NMI vs. CBTAX - Drawdown Comparison
The maximum NMI drawdown since its inception was -28.92%, which is greater than CBTAX's maximum drawdown of -12.12%. Use the drawdown chart below to compare losses from any high point for NMI and CBTAX.
Loading graphics...
Drawdown Indicators
| NMI | CBTAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.92% | -12.12% | -16.80% |
Max Drawdown (1Y)Largest decline over 1 year | -8.71% | -4.30% | -4.41% |
Max Drawdown (5Y)Largest decline over 5 years | -28.92% | -12.12% | -16.80% |
Max Drawdown (10Y)Largest decline over 10 years | -28.92% | — | — |
Current DrawdownCurrent decline from peak | -0.86% | -2.21% | +1.35% |
Average DrawdownAverage peak-to-trough decline | -5.93% | -2.82% | -3.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.31% | 1.20% | +3.11% |
Volatility
NMI vs. CBTAX - Volatility Comparison
Nuveen Municipal Income Fund, Inc. (NMI) has a higher volatility of 5.78% compared to Six Circles Tax Aware Bond Fund (CBTAX) at 0.99%. This indicates that NMI's price experiences larger fluctuations and is considered to be riskier than CBTAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| NMI | CBTAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.78% | 0.99% | +4.79% |
Volatility (6M)Calculated over the trailing 6-month period | 7.44% | 1.40% | +6.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.11% | 4.23% | +7.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.59% | 3.38% | +10.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.60% | 3.18% | +11.42% |