NPCT vs. NHMRX

Last updated Apr 1, 2026

Compare and contrast key facts about Nuveen Core Plus Impact Fund (NPCT) and Nuveen High Yield Municipal Bond Fund (NHMRX).

NPCT is an actively managed fund by Nuveen. It was launched on Apr 28, 2021. NHMRX is managed by Nuveen. It was launched on Jun 6, 1999.

Performance

NPCT vs. NHMRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Core Plus Impact Fund (NPCT) and Nuveen High Yield Municipal Bond Fund (NHMRX). The values are adjusted to include any dividend payments, if applicable.

NPCT vs. NHMRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
NPCT Nuveen Core Plus Impact Fund	3.03%	9.87%	17.23%	7.78%	-37.50%	-4.98%
NHMRX Nuveen High Yield Municipal Bond Fund	-0.75%	3.24%	5.62%	7.31%	-14.96%	6.06%

Returns By Period

In the year-to-date period, NPCT achieves a 3.03% return, which is significantly higher than NHMRX's -0.75% return.

NPCT

• 1D: 3.35%
• 1M: -3.20%
• YTD: 3.03%
• 6M: -1.87%
• 1Y: 7.63%
• 3Y*: 12.19%
• 5Y*: —
• 10Y*: —

NHMRX

• 1D: 0.36%
• 1M: -3.23%
• YTD: -0.75%
• 6M: 1.07%
• 1Y: 2.53%
• 3Y*: 4.02%
• 5Y*: 1.21%
• 10Y*: 3.64%

*Multi-year figures are annualized to reflect compound growth (CAGR)

NPCT vs. NHMRX - Expense Ratio Comparison

NPCT has a 5.08% expense ratio, which is higher than NHMRX's 0.52% expense ratio.

NPCT

Nuveen Core Plus Impact Fund

NHMRX

Nuveen High Yield Municipal Bond Fund

Return for Risk

NPCT vs. NHMRX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NPCT

NPCT Risk / Return Rank: 26
NPCT Sharpe Ratio Rank: 24
NPCT Sortino Ratio Rank: 24
NPCT Omega Ratio Rank: 22
NPCT Calmar Ratio Rank: 37
NPCT Martin Ratio Rank: 23

NHMRX

NHMRX Risk / Return Rank: 15
NHMRX Sharpe Ratio Rank: 16
NHMRX Sortino Ratio Rank: 14
NHMRX Omega Ratio Rank: 20
NHMRX Calmar Ratio Rank: 15
NHMRX Martin Ratio Rank: 12

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. NHMRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Core Plus Impact Fund (NPCT) and Nuveen High Yield Municipal Bond Fund (NHMRX). 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.

	NPCT	NHMRX	Difference
Sharpe ratio Return per unit of total volatility	0.64	0.42	+0.22
Sortino ratio Return per unit of downside risk	0.99	0.61	+0.39
Omega ratio Gain probability vs. loss probability	1.13	1.12	+0.02
Calmar ratio Return relative to maximum drawdown	1.02	0.42	+0.59
Martin ratio Return relative to average drawdown	2.56	1.02	+1.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NPCT vs. NHMRX - Sharpe Ratio Comparison

The current NPCT Sharpe Ratio is 0.64, which is higher than the NHMRX Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of NPCT and NHMRX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NPCT	NHMRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.64	0.42	+0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.18	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.54	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.25	0.87	-1.12

Correlation

The correlation between NPCT and NHMRX is 0.36, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

NPCT vs. NHMRX - Dividend Comparison

NPCT's dividend yield for the trailing twelve months is around 12.55%, more than NHMRX's 5.75% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NPCT Nuveen Core Plus Impact Fund	12.55%	13.15%	12.20%	10.28%	11.93%	3.94%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NHMRX Nuveen High Yield Municipal Bond Fund	5.75%	6.54%	5.79%	7.34%	5.64%	5.09%	5.03%	5.39%	5.47%	5.38%	5.88%	5.60%

Drawdowns

NPCT vs. NHMRX - Drawdown Comparison

The maximum NPCT drawdown since its inception was -46.77%, roughly equal to the maximum NHMRX drawdown of -45.45%. Use the drawdown chart below to compare losses from any high point for NPCT and NHMRX.

Drawdown Indicators

	NPCT	NHMRX	Difference
Max Drawdown Largest peak-to-trough decline	-46.77%	-45.45%	-1.32%
Max Drawdown (1Y) Largest decline over 1 year	-7.30%	-7.92%	+0.62%
Max Drawdown (5Y) Largest decline over 5 years	—	-21.52%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-22.22%	—
Current Drawdown Current decline from peak	-16.35%	-3.23%	-13.12%
Average Drawdown Average peak-to-trough decline	-25.61%	-5.35%	-20.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.90%	3.28%	-0.38%

Volatility

NPCT vs. NHMRX - Volatility Comparison

Nuveen Core Plus Impact Fund (NPCT) has a higher volatility of 4.90% compared to Nuveen High Yield Municipal Bond Fund (NHMRX) at 1.61%. This indicates that NPCT's price experiences larger fluctuations and is considered to be riskier than NHMRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NPCT	NHMRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.90%	1.61%	+3.29%
Volatility (6M) Calculated over the trailing 6-month period	6.53%	2.63%	+3.90%
Volatility (1Y) Calculated over the trailing 1-year period	11.93%	8.02%	+3.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.15%	6.81%	+6.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.15%	6.71%	+6.44%