NNY vs. NMT
NNY (Nuveen New York Municipal Value Fund) and NMT (Nuveen Massachusetts Quality Municipal Income Fund) are both Municipal Bonds funds from Nuveen. Over the past 10 years, NNY returned 1.37%/yr vs 2.58%/yr for NMT. Their 0.12 correlation means their historical movements had little consistent relationship. NNY charges 0.03%/yr vs 0.04%/yr for NMT.
Performance
NNY vs. NMT - Performance Comparison
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Returns By Period
In the year-to-date period, NNY achieves a -1.45% return, which is significantly lower than NMT's 15.79% return. Over the past 10 years, NNY has underperformed NMT with an annualized return of 1.37%, while NMT has yielded a comparatively higher 2.58% annualized return.
NNY
- 1D
- -0.48%
- 1M
- -5.51%
- 6M
- -2.19%
- YTD
- -1.45%
- 1Y
- 6.45%
- 3Y*
- 3.43%
- 5Y*
- -0.52%
- 10Y*
- 1.37%
- ALL TIME*
- 3.29%
NMT
- 1D
- 0.64%
- 1M
- -1.70%
- 6M
- 11.79%
- YTD
- 15.79%
- 1Y
- 18.71%
- 3Y*
- 13.22%
- 5Y*
- 1.35%
- 10Y*
- 2.58%
- ALL TIME*
- 5.87%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $390.05K | $299.51K | $279.95K | |
| $404.02K | $287.10K | $251.44K |
NNY vs. NMT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NNY Nuveen New York Municipal Value Fund | -1.45% | 11.17% | 1.19% | 4.30% | -13.41% | 1.85% | -1.65% | 13.73% | 4.51% | 4.12% |
NMT Nuveen Massachusetts Quality Municipal Income Fund | 15.79% | 5.77% | 16.29% | 2.58% | -30.45% | 12.42% | 6.47% | 25.65% | -14.05% | 13.80% |
Correlation
The correlation between NNY and NMT is 0.15, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.15 |
Correlation (3Y) Balances recent behavior with more history. | 0.26 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.23 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.19 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 1994 | 0.12 |
The correlation between NNY and NMT shifts across timeframes, from 0.12 (all time) to 0.26 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
NNY vs. NMT — Risk / Return Rank
NNY
NMT
NNY vs. NMT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen New York Municipal Value Fund (NNY) and Nuveen Massachusetts Quality Municipal Income Fund (NMT). 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.
| NNY | NMT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.09 | ||
| Sortino ratioReturn per unit of downside risk | -1.42 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.35 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.01 | 3.29 | -2.28 |
| Martin ratioReturn relative to average drawdown | 3.55 | 10.28 | -6.73 |
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Drawdowns
NNY vs. NMT - Drawdown Comparison
The maximum NNY drawdown since its inception was -36.62%, smaller than the maximum NMT drawdown of -40.12%. Use the drawdown chart below to compare losses from any high point for NNY and NMT.
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Drawdown Indicators
| NNY | NMT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.62% | -40.12% | +3.50% |
Max Drawdown (1Y)Largest decline over 1 year | -6.97% | -5.84% | -1.13% |
Max Drawdown (3Y)Largest decline over 3 years | -8.40% | -11.61% | +3.21% |
Max Drawdown (5Y)Largest decline over 5 years | -19.62% | -38.88% | +19.26% |
Max Drawdown (10Y)Largest decline over 10 years | -20.02% | -38.88% | +18.86% |
Current DrawdownCurrent decline from peak | -5.83% | -3.81% | -2.02% |
Average DrawdownAverage peak-to-trough decline | -7.95% | -8.42% | +0.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 1.86% | +0.11% |
Volatility
NNY vs. NMT - Volatility Comparison
The current volatility for Nuveen New York Municipal Value Fund (NNY) is 2.72%, while Nuveen Massachusetts Quality Municipal Income Fund (NMT) has a volatility of 4.06%. This indicates that NNY experiences smaller price fluctuations and is considered to be less risky than NMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NNY | NMT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.72% | 4.06% | -1.34% |
Volatility (6M)Calculated over the trailing 6-month period | 8.13% | 9.45% | -1.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.68% | 11.00% | -0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.98% | 12.33% | -1.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.29% | 14.07% | -1.78% |
NNY vs. NMT - Expense Ratio Comparison
NNY has a 0.03% expense ratio, which is lower than NMT'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%.
Dividends
NNY vs. NMT - Dividend Comparison
NNY's dividend yield for the trailing twelve months is around 4.30%, less than NMT's 6.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NMT Nuveen Massachusetts Quality Municipal Income Fund | 6.07% | 7.27% | 5.94% | 3.06% | 4.50% | 3.43% | 3.60% | 3.46% | 4.66% | 4.57% | 5.30% | 5.15% |
NNY Nuveen New York Municipal Value Fund | 4.30% | 4.13% | 4.25% | 3.99% | 3.50% | 2.96% | 3.29% | 3.42% | 3.77% | 4.00% | 4.10% | 3.91% |
Frequently Asked Questions
NNY and NMT have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NMT has higher volatility (4.06%) compared to NNY (2.72%). In terms of maximum drawdown, NNY dropped -36.62% vs NMT's -40.12%.
NMT currently has the higher Sharpe Ratio (1.75 vs 0.66), 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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