NMI vs. JQC
NMI (Nuveen Municipal Income Fund, Inc.) and JQC (Nuveen Credit Strategies Income Fund) are both mutual funds - NMI is a Municipal Bonds fund managed by Nuveen, while JQC is a Bank Loan fund managed by Nuveen. Over the past 10 years, NMI returned 2.63%/yr vs 5.49%/yr for JQC. Their 0.16 correlation means their historical movements had little consistent relationship. NMI charges 0.72%/yr vs 4.34%/yr for JQC.
Performance
NMI vs. JQC - Performance Comparison
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Returns By Period
In the year-to-date period, NMI achieves a 10.88% return, which is significantly higher than JQC's 2.40% return. Over the past 10 years, NMI has underperformed JQC with an annualized return of 2.63%, while JQC has yielded a comparatively higher 5.49% annualized return.
NMI
- 1D
- -0.95%
- 1M
- -1.51%
- 6M
- 9.75%
- YTD
- 10.88%
- 1Y
- 13.71%
- 3Y*
- 9.33%
- 5Y*
- 1.97%
- 10Y*
- 2.63%
- ALL TIME*
- 5.23%
JQC
- 1D
- 0.42%
- 1M
- -0.01%
- 6M
- -0.84%
- YTD
- 2.40%
- 1Y
- -1.75%
- 3Y*
- 10.82%
- 5Y*
- 4.66%
- 10Y*
- 5.49%
- ALL TIME*
- 4.95%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.47M | $2.59M | $2.73M | |
| $227.28K | $191.31K | $195.63K |
NMI vs. JQC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NMI Nuveen Municipal Income Fund, Inc. | 10.88% | 10.52% | 7.03% | 1.90% | -15.09% | 3.86% | 4.70% | 16.02% | -8.07% | 7.49% |
JQC Nuveen Credit Strategies Income Fund | 2.40% | -0.36% | 22.29% | 15.26% | -14.22% | 13.29% | -2.96% | 21.78% | -4.33% | -0.27% |
Correlation
The correlation between NMI and JQC is 0.11, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.11 |
Correlation (3Y) Balances recent behavior with more history. | 0.16 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.18 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.16 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2003 | 0.16 |
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Return for Risk
NMI vs. JQC — Risk / Return Rank
NMI
JQC
NMI vs. JQC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Municipal Income Fund, Inc. (NMI) 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.
| NMI | JQC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.04 | ||
| Sortino ratioReturn per unit of downside risk | +1.57 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 0.98 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.26 | -0.17 | +1.43 |
| Martin ratioReturn relative to average drawdown | 5.63 | -0.33 | +5.96 |
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Drawdowns
NMI vs. JQC - Drawdown Comparison
The maximum NMI drawdown since its inception was -28.92%, smaller than the maximum JQC drawdown of -75.18%. Use the drawdown chart below to compare losses from any high point for NMI and JQC.
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Drawdown Indicators
| NMI | JQC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.92% | -75.18% | +46.26% |
Max Drawdown (1Y)Largest decline over 1 year | -10.96% | -10.15% | -0.81% |
Max Drawdown (3Y)Largest decline over 3 years | -11.32% | -15.37% | +4.05% |
Max Drawdown (5Y)Largest decline over 5 years | -28.92% | -19.83% | -9.09% |
Max Drawdown (10Y)Largest decline over 10 years | -28.92% | -47.99% | +19.07% |
Current DrawdownCurrent decline from peak | -3.48% | -3.76% | +0.28% |
Average DrawdownAverage peak-to-trough decline | -5.91% | -8.78% | +2.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.44% | 5.32% | -2.88% |
Volatility
NMI vs. JQC - Volatility Comparison
Nuveen Municipal Income Fund, Inc. (NMI) has a higher volatility of 2.40% compared to Nuveen Credit Strategies Income Fund (JQC) at 1.49%. This indicates that NMI's price experiences larger fluctuations and is considered to be riskier 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
| NMI | JQC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.40% | 1.49% | +0.91% |
Volatility (6M)Calculated over the trailing 6-month period | 14.87% | 8.51% | +6.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.63% | 11.15% | +4.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.72% | 13.07% | +1.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.04% | 17.49% | -2.45% |
NMI vs. JQC - Expense Ratio Comparison
NMI has a 0.72% expense ratio, which is lower than JQC's 4.34% expense ratio.
Dividends
NMI vs. JQC - Dividend Comparison
NMI's dividend yield for the trailing twelve months is around 4.25%, less than JQC's 13.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JQC Nuveen Credit Strategies Income Fund | 13.09% | 12.91% | 11.39% | 11.42% | 9.71% | 10.03% | 16.11% | 16.14% | 6.53% | 7.42% | 6.99% | 7.51% |
NMI Nuveen Municipal Income Fund, Inc. | 4.25% | 4.59% | 4.63% | 4.04% | 3.51% | 3.22% | 3.53% | 4.15% | 5.12% | 4.21% | 4.45% | 4.28% |
Frequently Asked Questions
NMI and JQC have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NMI has higher volatility (2.40%) compared to JQC (1.49%). In terms of maximum drawdown, NMI dropped -28.92% vs JQC's -75.18%.
NMI currently has the higher Sharpe Ratio (0.88 vs -0.16), 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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