NMTRX vs. BSIIX
NMTRX (Nuveen Municipal Total Return Managed Accounts) and BSIIX (BlackRock Strategic Income Opportunities Fund Class I) are both mutual funds - NMTRX is a Municipal Bonds fund managed by BlackRock, while BSIIX is a Total Bond Market fund managed by BlackRock. Over the past 10 years, NMTRX returned 2.09%/yr vs 3.60%/yr for BSIIX. Their 0.29 correlation means their historical movements had little consistent relationship. NMTRX charges 0.05%/yr vs 0.69%/yr for BSIIX.
Performance
NMTRX vs. BSIIX - Performance Comparison
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Returns By Period
In the year-to-date period, NMTRX achieves a 1.25% return, which is significantly higher than BSIIX's 0.93% return. Over the past 10 years, NMTRX has underperformed BSIIX with an annualized return of 2.09%, while BSIIX has yielded a comparatively higher 3.60% annualized return.
NMTRX
- 1D
- -0.10%
- 1M
- -2.16%
- 6M
- 0.55%
- YTD
- 1.25%
- 1Y
- 6.51%
- 3Y*
- 3.53%
- 5Y*
- 0.03%
- 10Y*
- 2.09%
- ALL TIME*
- 3.95%
BSIIX
- 1D
- -0.10%
- 1M
- -1.23%
- 6M
- 0.10%
- YTD
- 0.93%
- 1Y
- 4.13%
- 3Y*
- 6.32%
- 5Y*
- 2.73%
- 10Y*
- 3.60%
- ALL TIME*
- 3.90%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
NMTRX vs. BSIIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NMTRX Nuveen Municipal Total Return Managed Accounts | 1.25% | 3.90% | 1.99% | 6.21% | -11.98% | 2.69% | 5.25% | 9.26% | 1.06% | 7.41% |
BSIIX BlackRock Strategic Income Opportunities Fund Class I | 0.93% | 8.59% | 5.22% | 6.18% | -6.14% | 0.80% | 7.22% | 7.65% | -0.42% | 4.89% |
Correlation
The correlation between NMTRX and BSIIX is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.66 |
Correlation (3Y) Balances recent behavior with more history. | 0.64 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.57 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.42 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2008 | 0.29 |
Over the past year, NMTRX and BSIIX have become more correlated (0.66) than their long-term average of 0.29, meaning their price movements have been converging.
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Return for Risk
NMTRX vs. BSIIX — Risk / Return Rank
NMTRX
BSIIX
NMTRX vs. BSIIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Municipal Total Return Managed Accounts (NMTRX) and BlackRock Strategic Income Opportunities Fund Class I (BSIIX). 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.
| NMTRX | BSIIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.76 | ||
| Sortino ratioReturn per unit of downside risk | +1.24 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.30 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 2.60 | 1.61 | +0.98 |
| Martin ratioReturn relative to average drawdown | 9.17 | 5.86 | +3.31 |
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Drawdowns
NMTRX vs. BSIIX - Drawdown Comparison
The maximum NMTRX drawdown since its inception was -16.36%, smaller than the maximum BSIIX drawdown of -18.76%. Use the drawdown chart below to compare losses from any high point for NMTRX and BSIIX.
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Drawdown Indicators
| NMTRX | BSIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.36% | -18.76% | +2.40% |
Max Drawdown (1Y)Largest decline over 1 year | -2.65% | -2.84% | +0.19% |
Max Drawdown (3Y)Largest decline over 3 years | -5.77% | -2.84% | -2.93% |
Max Drawdown (5Y)Largest decline over 5 years | -16.36% | -9.13% | -7.23% |
Max Drawdown (10Y)Largest decline over 10 years | -16.36% | -9.91% | -6.45% |
Current DrawdownCurrent decline from peak | -2.16% | -1.35% | -0.81% |
Average DrawdownAverage peak-to-trough decline | -2.89% | -1.80% | -1.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.75% | 0.78% | -0.03% |
Volatility
NMTRX vs. BSIIX - Volatility Comparison
Nuveen Municipal Total Return Managed Accounts (NMTRX) has a higher volatility of 0.92% compared to BlackRock Strategic Income Opportunities Fund Class I (BSIIX) at 0.69%. This indicates that NMTRX's price experiences larger fluctuations and is considered to be riskier than BSIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NMTRX | BSIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.92% | 0.69% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 2.42% | 2.44% | -0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.03% | 2.99% | +0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.04% | 3.03% | +1.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.40% | 3.15% | +1.25% |
NMTRX vs. BSIIX - Expense Ratio Comparison
NMTRX has a 0.05% expense ratio, which is lower than BSIIX's 0.69% expense ratio.
Dividends
NMTRX vs. BSIIX - Dividend Comparison
NMTRX's dividend yield for the trailing twelve months is around 4.31%, less than BSIIX's 4.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSIIX BlackRock Strategic Income Opportunities Fund Class I | 4.83% | 5.07% | 4.75% | 3.33% | 3.58% | 2.98% | 2.92% | 3.54% | 3.32% | 3.45% | 2.91% | 3.19% |
NMTRX Nuveen Municipal Total Return Managed Accounts | 4.31% | 4.46% | 3.55% | 3.67% | 3.28% | 2.73% | 2.92% | 3.20% | 3.47% | 3.28% | 3.71% | 3.91% |
Frequently Asked Questions
NMTRX and BSIIX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NMTRX has higher volatility (0.92%) compared to BSIIX (0.69%). In terms of maximum drawdown, NMTRX dropped -16.36% vs BSIIX's -18.76%.
NMTRX currently has the higher Sharpe Ratio (2.30 vs 1.54), 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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