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NPCT vs. GUGAX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

NPCT vs. GUGAX

Last updated Jun 25, 2026

NPCT (Nuveen Core Plus Impact Fund) and GUGAX (GMO Multi-Sector Fixed Income Fund) are both Intermediate Core-Plus Bond funds. Over the past 5 years, NPCT returned -2.55%/yr vs -0.50%/yr for GUGAX. At a 0.44 correlation, their price movements are largely independent. NPCT charges 5.08%/yr vs 0.45%/yr for GUGAX.

Performance

NPCT vs. GUGAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Core Plus Impact Fund (NPCT) and GMO Multi-Sector Fixed Income Fund (GUGAX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, NPCT achieves a 2.62% return, which is significantly higher than GUGAX's 0.96% return.

NPCT

1D
0.20%
1M
0.19%
YTD
2.62%
6M
1.92%
1Y
1.56%
3Y*
11.94%
5Y*
-2.55%
10Y*
—

GUGAX

1D
0.00%
1M
0.00%
YTD
0.96%
6M
0.84%
1Y
4.53%
3Y*
4.17%
5Y*
-0.50%
10Y*
1.47%
*Multi-year figures are annualized to reflect compound growth (CAGR)

NPCT vs. GUGAX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
NPCT
Nuveen Core Plus Impact Fund		2.62%9.87%17.23%7.78%-37.50%-4.98%
GUGAX
GMO Multi-Sector Fixed Income Fund		0.96%7.29%0.96%6.02%-14.52%-0.01%

Correlation

The correlation between NPCT and GUGAX is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.23

Correlation (3Y)
Calculated over the trailing 3-year period

0.43

Correlation (5Y)
Calculated over the trailing 5-year period

0.45

Correlation (All Time)
Calculated using the full available price history since Apr 28, 2021

0.44

Over the past year, the correlation between NPCT and GUGAX has dropped to 0.23 - well below their long-term average of 0.44, suggesting their price drivers have been diverging.

Compare stocks, funds, or ETFs

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Nuveen Core Plus Impact Fund

GMO Multi-Sector Fixed Income Fund

Often compared with NPCT:
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Often compared with GUGAX:
GUGAX vs. GMGEXGUGAX vs. JCPUXGUGAX vs. BCPIXGUGAX vs. ARINXGUGAX vs. GMCDXGUGAX vs. AMFIXGUGAX vs. IYW

Return for Risk

NPCT vs. GUGAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
NPCT
NPCT Risk / Return Rank: 44
Overall Rank
NPCT Sharpe Ratio Rank: 44
Sharpe Ratio Rank
NPCT Sortino Ratio Rank: 44
Sortino Ratio Rank
NPCT Omega Ratio Rank: 44
Omega Ratio Rank
NPCT Calmar Ratio Rank: 55
Calmar Ratio Rank
NPCT Martin Ratio Rank: 44
Martin Ratio Rank
GUGAX
GUGAX Risk / Return Rank: 7373
Overall Rank
GUGAX Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
GUGAX Sortino Ratio Rank: 7171
Sortino Ratio Rank
GUGAX Omega Ratio Rank: 7373
Omega Ratio Rank
GUGAX Calmar Ratio Rank: 9292
Calmar Ratio Rank
GUGAX Martin Ratio Rank: 7979
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NPCT vs. GUGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Core Plus Impact Fund (NPCT) and GMO Multi-Sector Fixed Income Fund (GUGAX). 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.

NPCTGUGAXDifference
Sharpe ratioReturn per unit of total volatility
0.16
1.89

-1.73

Sortino ratioReturn per unit of downside risk
0.32
3.14

-2.82

Omega ratioGain probability vs. loss probability

1.04

1.43

-0.39

Calmar ratioReturn relative to maximum drawdown

0.23

4.55

-4.32

Martin ratioReturn relative to average drawdown

0.53

13.42

-12.88

NPCT vs. GUGAX - Sharpe Ratio Comparison

The current NPCT Sharpe Ratio is 0.16, which is lower than the GUGAX Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of NPCT and GUGAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

NPCT vs. GUGAX - Drawdown Comparison

The maximum NPCT drawdown since its inception was -46.77%, which is greater than GUGAX's maximum drawdown of -38.57%. Use the drawdown chart below to compare losses from any high point for NPCT and GUGAX.

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Drawdown Indicators

NPCTGUGAXDifference

Max Drawdown

Largest peak-to-trough decline

-46.77%

-38.57%

-8.20%

Max Drawdown (1Y)

Largest decline over 1 year

-6.79%

-1.16%

-5.63%

Max Drawdown (3Y)

Largest decline over 3 years

-12.59%

-6.12%

-6.47%

Max Drawdown (5Y)

Largest decline over 5 years

-46.77%

-20.53%

-26.24%

Max Drawdown (10Y)

Largest decline over 10 years

—

-23.06%

—

Current Drawdown

Current decline from peak

-16.68%

-6.72%

-9.96%

Average Drawdown

Average peak-to-trough decline

-25.12%

-11.26%

-13.86%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.93%

0.39%

+2.54%

Volatility

NPCT vs. GUGAX - Volatility Comparison

Nuveen Core Plus Impact Fund (NPCT) has a higher volatility of 2.58% compared to GMO Multi-Sector Fixed Income Fund (GUGAX) at 0.00%. This indicates that NPCT's price experiences larger fluctuations and is considered to be riskier than GUGAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

NPCTGUGAXDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.58%

0.00%

+2.58%

Volatility (6M)

Calculated over the trailing 6-month period

7.22%

1.30%

+5.92%

Volatility (1Y)

Calculated over the trailing 1-year period

9.78%

2.80%

+6.98%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.13%

6.57%

+6.56%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.02%

5.43%

+7.59%

NPCT vs. GUGAX - Expense Ratio Comparison

NPCT has a 5.08% expense ratio, which is higher than GUGAX's 0.45% expense ratio.

Dividends

NPCT vs. GUGAX - Dividend Comparison

NPCT's dividend yield for the trailing twelve months is around 12.37%, more than GUGAX's 4.52% yield.

PositionTTM20252024202320222021202020192018201720162015
GUGAX
GMO Multi-Sector Fixed Income Fund		4.52%3.69%4.34%0.00%1.94%2.90%7.96%5.74%5.08%2.43%3.29%1.76%
NPCT
Nuveen Core Plus Impact Fund		12.37%13.15%12.20%10.28%11.93%3.94%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

NPCT and GUGAX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

NPCT has higher volatility (2.58%) compared to GUGAX (0.00%). In terms of maximum drawdown, NPCT dropped -46.77% vs GUGAX's -38.57%.

GUGAX currently has the higher Sharpe Ratio (1.89 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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