NRK vs. EIHMX
NRK (Nuveen New York AMT Free Quality Municipal Income) and EIHMX (Eaton Vance National Municipal Income Fund Class I) are both Municipal Bonds funds. Both are actively managed. Over the past 10 years, NRK returned 2.33%/yr vs 2.58%/yr for EIHMX. At a 0.26 correlation, their price movements are largely independent. NRK charges 2.16%/yr vs 0.41%/yr for EIHMX.
Performance
NRK vs. EIHMX - Performance Comparison
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Returns By Period
In the year-to-date period, NRK achieves a 9.28% return, which is significantly higher than EIHMX's 2.34% return. Over the past 10 years, NRK has underperformed EIHMX with an annualized return of 2.33%, while EIHMX has yielded a comparatively higher 2.58% annualized return.
NRK
- 1D
- -0.38%
- 1M
- 3.55%
- YTD
- 9.28%
- 6M
- 10.27%
- 1Y
- 17.91%
- 3Y*
- 7.88%
- 5Y*
- 0.27%
- 10Y*
- 2.33%
EIHMX
- 1D
- 0.00%
- 1M
- 1.89%
- YTD
- 2.34%
- 6M
- 2.80%
- 1Y
- 8.13%
- 3Y*
- 4.11%
- 5Y*
- 1.20%
- 10Y*
- 2.58%
NRK vs. EIHMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NRK Nuveen New York AMT Free Quality Municipal Income | 9.28% | 4.74% | 5.93% | 7.03% | -21.84% | 6.24% | 4.08% | 21.43% | -5.98% | 6.16% |
EIHMX Eaton Vance National Municipal Income Fund Class I | 2.34% | 3.93% | 2.56% | 7.23% | -9.70% | 1.73% | 6.06% | 8.74% | 2.04% | 4.95% |
Correlation
The correlation between NRK and EIHMX is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Jan 16, 2003 | 0.26 |
Over the past year, NRK and EIHMX have become more correlated (0.48) than their long-term average of 0.26, meaning their price movements have been converging.
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Return for Risk
NRK vs. EIHMX — Risk / Return Rank
NRK
EIHMX
NRK vs. EIHMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen New York AMT Free Quality Municipal Income (NRK) and Eaton Vance National Municipal Income Fund Class I (EIHMX). 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.
| NRK | EIHMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.47 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.63 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 3.38 | 2.71 | +0.67 |
| Martin ratioReturn relative to average drawdown | 9.02 | 9.19 | -0.17 |
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Drawdowns
NRK vs. EIHMX - Drawdown Comparison
The maximum NRK drawdown since its inception was -40.18%, roughly equal to the maximum EIHMX drawdown of -39.87%. Use the drawdown chart below to compare losses from any high point for NRK and EIHMX.
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Drawdown Indicators
| NRK | EIHMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.18% | -39.87% | -0.31% |
Max Drawdown (1Y)Largest decline over 1 year | -5.32% | -2.92% | -2.40% |
Max Drawdown (3Y)Largest decline over 3 years | -12.67% | -7.26% | -5.41% |
Max Drawdown (5Y)Largest decline over 5 years | -31.06% | -15.32% | -15.74% |
Max Drawdown (10Y)Largest decline over 10 years | -31.06% | -15.32% | -15.74% |
Current DrawdownCurrent decline from peak | -1.38% | -0.00% | -1.38% |
Average DrawdownAverage peak-to-trough decline | -8.17% | -3.49% | -4.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.99% | 0.86% | +1.13% |
Volatility
NRK vs. EIHMX - Volatility Comparison
Nuveen New York AMT Free Quality Municipal Income (NRK) has a higher volatility of 3.36% compared to Eaton Vance National Municipal Income Fund Class I (EIHMX) at 0.85%. This indicates that NRK's price experiences larger fluctuations and is considered to be riskier than EIHMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NRK | EIHMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.36% | 0.85% | +2.51% |
Volatility (6M)Calculated over the trailing 6-month period | 6.67% | 2.37% | +4.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.51% | 3.19% | +5.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.95% | 4.68% | +5.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.35% | 4.42% | +5.93% |
NRK vs. EIHMX - Expense Ratio Comparison
NRK has a 2.16% expense ratio, which is higher than EIHMX's 0.41% expense ratio.
Dividends
NRK vs. EIHMX - Dividend Comparison
NRK's dividend yield for the trailing twelve months is around 7.78%, more than EIHMX's 3.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EIHMX Eaton Vance National Municipal Income Fund Class I | 3.97% | 4.99% | 4.38% | 3.21% | 3.30% | 2.40% | 2.90% | 3.88% | 3.87% | 3.90% | 4.10% | 4.12% |
NRK Nuveen New York AMT Free Quality Municipal Income | 7.78% | 8.21% | 6.74% | 4.06% | 5.41% | 4.18% | 4.15% | 3.98% | 4.68% | 4.85% | 5.37% | 5.44% |
Frequently Asked Questions
NRK and EIHMX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NRK has higher volatility (3.36%) compared to EIHMX (0.85%). In terms of maximum drawdown, NRK dropped -40.18% vs EIHMX's -39.87%.
EIHMX currently has the higher Sharpe Ratio (2.48 vs 2.11), 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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