NPV vs. MAPYX
NPV (Nuveen Virginia Quality Municipal Income Fund) and MAPYX (BlackRock Pennsylvania Municipal Bond Fund) are both Municipal Bonds funds. Over the past 10 years, NPV returned 2.17%/yr vs 1.93%/yr for MAPYX. At a 0.18 correlation, their price movements are largely independent. NPV charges 1.51%/yr vs 0.54%/yr for MAPYX.
Performance
NPV vs. MAPYX - Performance Comparison
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Returns By Period
In the year-to-date period, NPV achieves a 6.99% return, which is significantly higher than MAPYX's 2.07% return. Over the past 10 years, NPV has outperformed MAPYX with an annualized return of 2.17%, while MAPYX has yielded a comparatively lower 1.93% annualized return.
NPV
- 1D
- 0.62%
- 1M
- 2.41%
- YTD
- 6.99%
- 6M
- 6.70%
- 1Y
- 9.29%
- 3Y*
- 8.62%
- 5Y*
- -1.88%
- 10Y*
- 2.17%
MAPYX
- 1D
- 0.00%
- 1M
- 2.08%
- YTD
- 2.07%
- 6M
- 2.49%
- 1Y
- 8.22%
- 3Y*
- 4.59%
- 5Y*
- 0.84%
- 10Y*
- 1.93%
NPV vs. MAPYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NPV Nuveen Virginia Quality Municipal Income Fund | 6.99% | -5.91% | 24.61% | 0.42% | -31.53% | 10.93% | 13.15% | 29.60% | -4.42% | 3.20% |
MAPYX BlackRock Pennsylvania Municipal Bond Fund | 2.07% | 5.20% | 3.57% | 5.80% | -12.40% | 3.18% | 4.29% | 6.67% | 0.73% | 5.78% |
Correlation
The correlation between NPV and MAPYX is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 1994 | 0.18 |
The correlation between NPV and MAPYX shifts across timeframes, from 0.18 (all time) to 0.38 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
NPV vs. MAPYX — Risk / Return Rank
NPV
MAPYX
NPV vs. MAPYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Virginia Quality Municipal Income Fund (NPV) and BlackRock Pennsylvania Municipal Bond Fund (MAPYX). 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.
| NPV | MAPYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.16 | ||
| Sortino ratioReturn per unit of downside risk | -1.85 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.62 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | 2.16 | 2.53 | -0.37 |
| Martin ratioReturn relative to average drawdown | 5.44 | 8.71 | -3.27 |
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Drawdowns
NPV vs. MAPYX - Drawdown Comparison
The maximum NPV drawdown since its inception was -44.25%, which is greater than MAPYX's maximum drawdown of -17.13%. Use the drawdown chart below to compare losses from any high point for NPV and MAPYX.
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Drawdown Indicators
| NPV | MAPYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.25% | -17.13% | -27.12% |
Max Drawdown (1Y)Largest decline over 1 year | -4.31% | -3.30% | -1.01% |
Max Drawdown (3Y)Largest decline over 3 years | -18.29% | -7.06% | -11.23% |
Max Drawdown (5Y)Largest decline over 5 years | -44.25% | -17.13% | -27.12% |
Max Drawdown (10Y)Largest decline over 10 years | -44.25% | -17.13% | -27.12% |
Current DrawdownCurrent decline from peak | -15.63% | -0.02% | -15.61% |
Average DrawdownAverage peak-to-trough decline | -10.19% | -2.28% | -7.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.71% | 0.96% | +0.75% |
Volatility
NPV vs. MAPYX - Volatility Comparison
Nuveen Virginia Quality Municipal Income Fund (NPV) has a higher volatility of 1.60% compared to BlackRock Pennsylvania Municipal Bond Fund (MAPYX) at 0.86%. This indicates that NPV's price experiences larger fluctuations and is considered to be riskier than MAPYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NPV | MAPYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.60% | 0.86% | +0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 4.96% | 2.48% | +2.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.91% | 3.33% | +3.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.46% | 5.28% | +8.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.19% | 4.86% | +8.33% |
NPV vs. MAPYX - Expense Ratio Comparison
NPV has a 1.51% expense ratio, which is higher than MAPYX's 0.54% expense ratio.
Dividends
NPV vs. MAPYX - Dividend Comparison
NPV's dividend yield for the trailing twelve months is around 6.90%, more than MAPYX's 3.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MAPYX BlackRock Pennsylvania Municipal Bond Fund | 3.81% | 4.98% | 4.11% | 3.00% | 2.17% | 2.59% | 3.14% | 3.79% | 4.03% | 4.16% | 4.12% | 4.00% |
NPV Nuveen Virginia Quality Municipal Income Fund | 6.90% | 7.55% | 5.63% | 3.89% | 5.08% | 3.42% | 3.49% | 3.58% | 4.62% | 4.40% | 4.87% | 5.25% |
Frequently Asked Questions
NPV and MAPYX have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NPV has higher volatility (1.60%) compared to MAPYX (0.86%). In terms of maximum drawdown, NPV dropped -44.25% vs MAPYX's -17.13%.
MAPYX currently has the higher Sharpe Ratio (2.51 vs 1.35), 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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