NMT vs. JQC
NMT (Nuveen Massachusetts Quality Municipal Income Fund) and JQC (Nuveen Credit Strategies Income Fund) are both mutual funds - NMT is a Municipal Bonds fund managed by Nuveen, while JQC is a Bank Loan fund managed by Nuveen. Over the past 10 years, NMT returned 2.33%/yr vs 5.49%/yr for JQC. Their 0.12 correlation means their historical movements had little consistent relationship. NMT charges 0.04%/yr vs 4.34%/yr for JQC.
Performance
NMT vs. JQC - Performance Comparison
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Returns By Period
In the year-to-date period, NMT achieves a 14.69% return, which is significantly higher than JQC's 2.40% return. Over the past 10 years, NMT has underperformed JQC with an annualized return of 2.33%, while JQC has yielded a comparatively higher 5.49% annualized return.
NMT
- 1D
- -0.95%
- 1M
- -2.63%
- 6M
- 10.49%
- YTD
- 14.69%
- 1Y
- 17.58%
- 3Y*
- 13.08%
- 5Y*
- 1.09%
- 10Y*
- 2.33%
- ALL TIME*
- 5.84%
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 | |
| $248.00K | $301.58K | $262.08K |
NMT vs. JQC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NMT Nuveen Massachusetts Quality Municipal Income Fund | 14.69% | 5.77% | 16.29% | 2.58% | -30.45% | 12.42% | 6.47% | 25.65% | -14.05% | 13.80% |
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 NMT and JQC is -0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.02 |
Correlation (3Y) Balances recent behavior with more history. | 0.13 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.13 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.11 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2003 | 0.12 |
The correlation between NMT and JQC shifts across timeframes, from -0.02 (1 year) to 0.13 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
NMT vs. JQC — Risk / Return Rank
NMT
JQC
NMT vs. JQC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Massachusetts Quality Municipal Income Fund (NMT) 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.
| NMT | JQC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.76 | ||
| Sortino ratioReturn per unit of downside risk | +2.41 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 0.98 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 3.02 | -0.17 | +3.20 |
| Martin ratioReturn relative to average drawdown | 9.34 | -0.33 | +9.67 |
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Drawdowns
NMT vs. JQC - Drawdown Comparison
The maximum NMT drawdown since its inception was -40.12%, smaller than the maximum JQC drawdown of -75.18%. Use the drawdown chart below to compare losses from any high point for NMT and JQC.
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Drawdown Indicators
| NMT | JQC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.12% | -75.18% | +35.06% |
Max Drawdown (1Y)Largest decline over 1 year | -5.84% | -10.15% | +4.31% |
Max Drawdown (3Y)Largest decline over 3 years | -11.61% | -15.37% | +3.76% |
Max Drawdown (5Y)Largest decline over 5 years | -38.88% | -19.83% | -19.05% |
Max Drawdown (10Y)Largest decline over 10 years | -38.88% | -47.99% | +9.11% |
Current DrawdownCurrent decline from peak | -4.72% | -3.76% | -0.96% |
Average DrawdownAverage peak-to-trough decline | -8.42% | -8.78% | +0.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.89% | 5.32% | -3.43% |
Volatility
NMT vs. JQC - Volatility Comparison
Nuveen Massachusetts Quality Municipal Income Fund (NMT) has a higher volatility of 4.02% compared to Nuveen Credit Strategies Income Fund (JQC) at 1.49%. This indicates that NMT'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
| NMT | JQC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.02% | 1.49% | +2.53% |
Volatility (6M)Calculated over the trailing 6-month period | 9.49% | 8.51% | +0.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.07% | 11.15% | -0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.34% | 13.07% | -0.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.06% | 17.49% | -3.43% |
NMT vs. JQC - Expense Ratio Comparison
NMT has a 0.04% expense ratio, which is lower than JQC's 4.34% expense ratio.
Dividends
NMT vs. JQC - Dividend Comparison
NMT's dividend yield for the trailing twelve months is around 6.12%, 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% |
NMT Nuveen Massachusetts Quality Municipal Income Fund | 6.12% | 7.27% | 5.94% | 3.06% | 4.50% | 3.43% | 3.60% | 3.46% | 4.66% | 4.57% | 5.30% | 5.15% |
Frequently Asked Questions
NMT and JQC have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NMT has higher volatility (4.02%) compared to JQC (1.49%). In terms of maximum drawdown, NMT dropped -40.12% vs JQC's -75.18%.
NMT currently has the higher Sharpe Ratio (1.60 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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