NRK vs. NELIX

Last updated Apr 2, 2026

Compare and contrast key facts about Nuveen New York AMT Free Quality Municipal Income (NRK) and Nuveen Equity Long/Short Fund (NELIX).

NRK is an actively managed fund by Nuveen. It was launched on Nov 21, 2002. NELIX is managed by Nuveen. It was launched on Dec 29, 2008.

Performance

NRK vs. NELIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen New York AMT Free Quality Municipal Income (NRK) and Nuveen Equity Long/Short Fund (NELIX). The values are adjusted to include any dividend payments, if applicable.

NRK vs. NELIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NRK Nuveen New York AMT Free Quality Municipal Income	4.26%	4.74%	5.93%	7.03%	-21.84%	6.24%	4.08%	21.43%	-5.98%	6.16%
NELIX Nuveen Equity Long/Short Fund	-2.12%	11.31%	20.55%	24.09%	-14.94%	32.92%	-0.79%	6.35%	-2.36%	19.32%

Returns By Period

In the year-to-date period, NRK achieves a 4.26% return, which is significantly higher than NELIX's -2.12% return. Over the past 10 years, NRK has underperformed NELIX with an annualized return of 2.54%, while NELIX has yielded a comparatively higher 9.35% annualized return.

NRK

• 1D: 0.98%
• 1M: -2.09%
• YTD: 4.26%
• 6M: 4.75%
• 1Y: 8.11%
• 3Y*: 5.97%
• 5Y*: 0.06%
• 10Y*: 2.54%

NELIX

• 1D: 2.33%
• 1M: -2.44%
• YTD: -2.12%
• 6M: -1.00%
• 1Y: 13.87%
• 3Y*: 16.20%
• 5Y*: 9.78%
• 10Y*: 9.35%

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

NRK vs. NELIX - Expense Ratio Comparison

NRK has a 2.16% expense ratio, which is higher than NELIX's 1.35% expense ratio.

NRK

Nuveen New York AMT Free Quality Municipal Income

NELIX

Nuveen Equity Long/Short Fund

Return for Risk

NRK vs. NELIX — Risk / Return Rank

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

NRK

NRK Risk / Return Rank: 33
NRK Sharpe Ratio Rank: 39
NRK Sortino Ratio Rank: 44
NRK Omega Ratio Rank: 32
NRK Calmar Ratio Rank: 31
NRK Martin Ratio Rank: 18

NELIX

NELIX Risk / Return Rank: 57
NELIX Sharpe Ratio Rank: 53
NELIX Sortino Ratio Rank: 54
NELIX Omega Ratio Rank: 56
NELIX Calmar Ratio Rank: 57
NELIX Martin Ratio Rank: 63

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.

NRK vs. NELIX - 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 Nuveen Equity Long/Short Fund (NELIX). 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.

	NRK	NELIX	Difference
Sharpe ratio Return per unit of total volatility	0.96	1.06	-0.11
Sortino ratio Return per unit of downside risk	1.49	1.55	-0.06
Omega ratio Gain probability vs. loss probability	1.19	1.23	-0.05
Calmar ratio Return relative to maximum drawdown	1.16	1.47	-0.31
Martin ratio Return relative to average drawdown	2.62	6.44	-3.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NRK vs. NELIX - Sharpe Ratio Comparison

The current NRK Sharpe Ratio is 0.96, which is comparable to the NELIX Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of NRK and NELIX, 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

	NRK	NELIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.96	1.06	-0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.01	0.77	-0.77
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.25	0.68	-0.44
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	0.68	-0.39

Correlation

The correlation between NRK and NELIX is 0.09, 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

NRK vs. NELIX - Dividend Comparison

NRK's dividend yield for the trailing twelve months is around 8.03%, more than NELIX's 3.89% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NRK Nuveen New York AMT Free Quality Municipal Income	8.03%	8.21%	6.74%	4.06%	5.41%	4.18%	4.15%	3.98%	4.68%	4.85%	5.37%	5.44%
NELIX Nuveen Equity Long/Short Fund	3.89%	3.81%	4.78%	4.20%	6.84%	2.44%	0.00%	0.00%	1.35%	1.58%	0.00%	0.00%

Drawdowns

NRK vs. NELIX - Drawdown Comparison

The maximum NRK drawdown since its inception was -40.18%, which is greater than NELIX's maximum drawdown of -28.72%. Use the drawdown chart below to compare losses from any high point for NRK and NELIX.

Drawdown Indicators

	NRK	NELIX	Difference
Max Drawdown Largest peak-to-trough decline	-40.18%	-28.72%	-11.46%
Max Drawdown (1Y) Largest decline over 1 year	-7.55%	-8.92%	+1.37%
Max Drawdown (5Y) Largest decline over 5 years	-31.06%	-19.30%	-11.76%
Max Drawdown (10Y) Largest decline over 10 years	-31.06%	-28.72%	-2.34%
Current Drawdown Current decline from peak	-5.91%	-4.12%	-1.79%
Average Drawdown Average peak-to-trough decline	-8.22%	-4.75%	-3.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.33%	2.03%	+1.30%

Volatility

NRK vs. NELIX - Volatility Comparison

The current volatility for Nuveen New York AMT Free Quality Municipal Income (NRK) is 3.50%, while Nuveen Equity Long/Short Fund (NELIX) has a volatility of 4.17%. This indicates that NRK experiences smaller price fluctuations and is considered to be less risky than NELIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NRK	NELIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.50%	4.17%	-0.67%
Volatility (6M) Calculated over the trailing 6-month period	5.50%	7.61%	-2.11%
Volatility (1Y) Calculated over the trailing 1-year period	8.54%	13.67%	-5.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.76%	12.71%	-2.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.28%	13.73%	-3.45%