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 2.36%/yr vs 5.75%/yr for JQC. At a 0.12 correlation, their price movements are largely independent. 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 15.78% return, which is significantly higher than JQC's 1.98% return. Over the past 10 years, NMT has underperformed JQC with an annualized return of 2.36%, while JQC has yielded a comparatively higher 5.75% annualized return.
NMT
- 1D
- -0.47%
- 1M
- -1.54%
- 6M
- 13.77%
- YTD
- 15.78%
- 1Y
- 15.76%
- 3Y*
- 13.36%
- 5Y*
- 0.90%
- 10Y*
- 2.36%
JQC
- 1D
- 0.21%
- 1M
- 0.62%
- 6M
- -0.78%
- YTD
- 1.98%
- 1Y
- -1.00%
- 3Y*
- 10.67%
- 5Y*
- 4.70%
- 10Y*
- 5.75%
NMT vs. JQC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NMT Nuveen Massachusetts Quality Municipal Income Fund | 15.78% | 5.77% | 16.29% | 2.58% | -30.45% | 12.42% | 6.47% | 25.65% | -14.05% | 13.80% |
JQC Nuveen Credit Strategies Income Fund | 1.98% | -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 -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
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 -0.01 (1 year) to 0.14 (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 | +1.59 | ||
| Sortino ratioReturn per unit of downside risk | +2.21 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 0.99 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 2.71 | -0.10 | +2.81 |
| Martin ratioReturn relative to average drawdown | 8.35 | -0.19 | +8.54 |
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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 | -13.28% | -15.37% | +2.09% |
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 | -3.81% | -4.16% | +0.35% |
Average DrawdownAverage peak-to-trough decline | -8.43% | -8.79% | +0.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.92% | 5.24% | -3.32% |
Volatility
NMT vs. JQC - Volatility Comparison
Nuveen Massachusetts Quality Municipal Income Fund (NMT) has a higher volatility of 4.55% compared to Nuveen Credit Strategies Income Fund (JQC) at 1.74%. 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 | 4.55% | 1.74% | +2.81% |
Volatility (6M)Calculated over the trailing 6-month period | 9.06% | 8.71% | +0.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.58% | 11.17% | -0.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.41% | 13.13% | -0.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.04% | 17.51% | -3.47% |
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 13.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JQC Nuveen Credit Strategies Income Fund | 13.10% | 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 -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NMT has higher volatility (4.55%) compared to JQC (1.74%). In terms of maximum drawdown, NMT dropped -40.12% vs JQC's -75.18%.
NMT currently has the higher Sharpe Ratio (1.50 vs -0.09), 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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