NMI vs. NELIX
NMI (Nuveen Municipal Income Fund, Inc.) and NELIX (Nuveen Equity Long/Short Fund) are both mutual funds - NMI is a Municipal Bonds fund managed by Nuveen, while NELIX is a Long-Short fund managed by Nuveen. Over the past 10 years, NMI returned 2.63%/yr vs 10.51%/yr for NELIX. Their 0.06 correlation means their historical movements had little consistent relationship. NMI charges 0.72%/yr vs 1.35%/yr for NELIX.
Performance
NMI vs. NELIX - 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 NELIX's 7.07% return. Over the past 10 years, NMI has underperformed NELIX with an annualized return of 2.63%, while NELIX has yielded a comparatively higher 10.51% 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%
NELIX
- 1D
- 0.65%
- 1M
- -0.03%
- 6M
- 5.13%
- YTD
- 7.07%
- 1Y
- 13.32%
- 3Y*
- 15.10%
- 5Y*
- 10.35%
- 10Y*
- 10.51%
- ALL TIME*
- 9.50%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $227.28K | $191.31K | $195.63K |
NMI vs. NELIX - 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% |
NELIX Nuveen Equity Long/Short Fund | 7.07% | 11.31% | 20.55% | 24.09% | -14.94% | 32.92% | -0.79% | 6.35% | -2.36% | 19.32% |
Correlation
The correlation between NMI and NELIX 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. | 0.15 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.09 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2013 | 0.06 |
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Return for Risk
NMI vs. NELIX — Risk / Return Rank
NMI
NELIX
NMI vs. NELIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Municipal Income Fund, Inc. (NMI) and Nuveen Equity Long/Short Fund (NELIX). 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 | NELIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.31 | ||
| Sortino ratioReturn per unit of downside risk | -0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.22 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.26 | 1.98 | -0.73 |
| Martin ratioReturn relative to average drawdown | 5.63 | 7.33 | -1.71 |
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Drawdowns
NMI vs. NELIX - Drawdown Comparison
The maximum NMI drawdown since its inception was -28.92%, roughly equal to the maximum NELIX drawdown of -28.72%. Use the drawdown chart below to compare losses from any high point for NMI and NELIX.
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Drawdown Indicators
| NMI | NELIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.92% | -28.72% | -0.20% |
Max Drawdown (1Y)Largest decline over 1 year | -10.96% | -6.31% | -4.65% |
Max Drawdown (3Y)Largest decline over 3 years | -11.32% | -15.50% | +4.18% |
Max Drawdown (5Y)Largest decline over 5 years | -28.92% | -19.30% | -9.62% |
Max Drawdown (10Y)Largest decline over 10 years | -28.92% | -28.72% | -0.20% |
Current DrawdownCurrent decline from peak | -3.48% | -1.40% | -2.08% |
Average DrawdownAverage peak-to-trough decline | -5.91% | -4.65% | -1.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.44% | 1.70% | +0.74% |
Volatility
NMI vs. NELIX - Volatility Comparison
The current volatility for Nuveen Municipal Income Fund, Inc. (NMI) is 2.40%, while Nuveen Equity Long/Short Fund (NELIX) has a volatility of 3.56%. This indicates that NMI experiences smaller price fluctuations and is considered to be less risky than NELIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NMI | NELIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.40% | 3.56% | -1.16% |
Volatility (6M)Calculated over the trailing 6-month period | 14.87% | 8.35% | +6.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.63% | 10.46% | +5.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.72% | 12.77% | +1.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.04% | 13.60% | +1.44% |
NMI vs. NELIX - Expense Ratio Comparison
NMI has a 0.72% expense ratio, which is lower than NELIX's 1.35% expense ratio.
Dividends
NMI vs. NELIX - Dividend Comparison
NMI's dividend yield for the trailing twelve months is around 4.25%, more than NELIX's 3.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NELIX Nuveen Equity Long/Short Fund | 3.56% | 3.81% | 4.78% | 4.20% | 6.84% | 2.44% | 0.00% | 0.00% | 1.35% | 1.58% | 0.00% | 0.00% |
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 NELIX 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.
NELIX has higher volatility (3.56%) compared to NMI (2.40%). In terms of maximum drawdown, NMI dropped -28.92% vs NELIX's -28.72%.
NELIX currently has the higher Sharpe Ratio (1.20 vs 0.88), 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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