NMS vs. MHF
Compare and contrast key facts about Nuveen Minnesota Quality Municipal Income Fund (NMS) and Western Asset Municipal High Income Fund Inc (MHF).
NMS is managed by Nuveen. It was launched on Jun 25, 1993. MHF is managed by Franklin Templeton. It was launched on Nov 28, 1988.
Performance
NMS vs. MHF - Performance Comparison
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NMS vs. MHF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NMS Nuveen Minnesota Quality Municipal Income Fund | 5.76% | 2.10% | 19.59% | 1.57% | -21.89% | 5.47% | 5.80% | 25.72% | -13.31% | -1.58% |
MHF Western Asset Municipal High Income Fund Inc | 2.39% | 7.18% | 11.99% | 4.53% | -17.68% | 10.42% | 3.00% | 13.93% | -2.27% | 7.54% |
Returns By Period
In the year-to-date period, NMS achieves a 5.76% return, which is significantly higher than MHF's 2.39% return. Over the past 10 years, NMS has underperformed MHF with an annualized return of 2.13%, while MHF has yielded a comparatively higher 2.65% annualized return.
NMS
- 1D
- 1.12%
- 1M
- 0.47%
- YTD
- 5.76%
- 6M
- 5.82%
- 1Y
- 9.04%
- 3Y*
- 6.52%
- 5Y*
- 1.26%
- 10Y*
- 2.13%
MHF
- 1D
- 4.20%
- 1M
- 0.22%
- YTD
- 2.39%
- 6M
- -1.14%
- 1Y
- -0.66%
- 3Y*
- 6.79%
- 5Y*
- 2.18%
- 10Y*
- 2.65%
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NMS vs. MHF - Expense Ratio Comparison
NMS has a 0.03% expense ratio, which is lower than MHF's 0.04% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
NMS vs. MHF — Risk / Return Rank
NMS
MHF
NMS vs. MHF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Minnesota Quality Municipal Income Fund (NMS) and Western Asset Municipal High Income Fund Inc (MHF). 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.
| NMS | MHF | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.01 | -0.04 | +1.06 |
Sortino ratioReturn per unit of downside risk | 1.44 | 0.05 | +1.40 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.01 | +0.19 |
Calmar ratioReturn relative to maximum drawdown | 1.78 | -0.08 | +1.86 |
Martin ratioReturn relative to average drawdown | 3.74 | -0.12 | +3.86 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NMS | MHF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.01 | -0.04 | +1.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.09 | 0.16 | -0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.15 | 0.20 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 0.31 | -0.09 |
Correlation
The correlation between NMS and MHF is 0.16, 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
NMS vs. MHF - Dividend Comparison
NMS's dividend yield for the trailing twelve months is around 6.83%, more than MHF's 5.88% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NMS Nuveen Minnesota Quality Municipal Income Fund | 6.83% | 7.29% | 6.05% | 4.03% | 5.24% | 4.19% | 3.93% | 4.05% | 5.52% | 5.20% | 4.68% | 5.60% |
MHF Western Asset Municipal High Income Fund Inc | 5.88% | 5.93% | 5.65% | 3.78% | 3.72% | 3.23% | 3.75% | 4.02% | 4.42% | 4.14% | 4.53% | 4.45% |
Drawdowns
NMS vs. MHF - Drawdown Comparison
The maximum NMS drawdown since its inception was -38.76%, which is greater than MHF's maximum drawdown of -29.95%. Use the drawdown chart below to compare losses from any high point for NMS and MHF.
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Drawdown Indicators
| NMS | MHF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.76% | -29.95% | -8.81% |
Max Drawdown (1Y)Largest decline over 1 year | -5.07% | -10.06% | +4.99% |
Max Drawdown (5Y)Largest decline over 5 years | -38.76% | -26.72% | -12.04% |
Max Drawdown (10Y)Largest decline over 10 years | -38.76% | -26.72% | -12.04% |
Current DrawdownCurrent decline from peak | -5.09% | -5.89% | +0.80% |
Average DrawdownAverage peak-to-trough decline | -10.81% | -6.35% | -4.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.41% | 6.54% | -4.13% |
Volatility
NMS vs. MHF - Volatility Comparison
The current volatility for Nuveen Minnesota Quality Municipal Income Fund (NMS) is 2.88%, while Western Asset Municipal High Income Fund Inc (MHF) has a volatility of 4.84%. This indicates that NMS experiences smaller price fluctuations and is considered to be less risky than MHF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NMS | MHF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.88% | 4.84% | -1.96% |
Volatility (6M)Calculated over the trailing 6-month period | 5.95% | 8.53% | -2.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.95% | 15.07% | -6.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.10% | 13.99% | +0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.63% | 13.51% | +1.12% |