NRK vs. QQQX
NRK (Nuveen New York AMT Free Quality Municipal Income) and QQQX (Nuveen Nasdaq 100 Dynamic Overwrite Fund) are both mutual funds - NRK is a Municipal Bonds fund actively managed by Nuveen, while QQQX is a Derivative Income fund actively managed by Nuveen. Both are actively managed. Over the past 10 years, NRK returned 2.33%/yr vs 13.17%/yr for QQQX. At a 0.16 correlation, their price movements are largely independent. NRK charges 2.16%/yr vs 0.89%/yr for QQQX.
Performance
NRK vs. QQQX - 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 QQQX's 5.00% return. Over the past 10 years, NRK has underperformed QQQX with an annualized return of 2.33%, while QQQX has yielded a comparatively higher 13.17% 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%
QQQX
- 1D
- -2.26%
- 1M
- -4.41%
- YTD
- 5.00%
- 6M
- 5.02%
- 1Y
- 21.69%
- 3Y*
- 13.96%
- 5Y*
- 7.89%
- 10Y*
- 13.17%
NRK vs. QQQX - 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% |
QQQX Nuveen Nasdaq 100 Dynamic Overwrite Fund | 5.00% | 14.87% | 25.61% | 21.68% | -27.39% | 25.32% | 15.75% | 28.83% | -11.68% | 39.19% |
Correlation
The correlation between NRK and QQQX is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2007 | 0.16 |
Over the past year, NRK and QQQX have become more correlated (0.36) than their long-term average of 0.16, meaning their price movements have been converging.
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Return for Risk
NRK vs. QQQX — Risk / Return Rank
NRK
QQQX
NRK vs. QQQX - 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 Nasdaq 100 Dynamic Overwrite Fund (QQQX). 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 | QQQX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.69 | ||
| Sortino ratioReturn per unit of downside risk | +1.40 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.26 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 3.38 | 2.39 | +0.99 |
| Martin ratioReturn relative to average drawdown | 9.02 | 10.00 | -0.97 |
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Drawdowns
NRK vs. QQQX - Drawdown Comparison
The maximum NRK drawdown since its inception was -40.18%, smaller than the maximum QQQX drawdown of -57.25%. Use the drawdown chart below to compare losses from any high point for NRK and QQQX.
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Drawdown Indicators
| NRK | QQQX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.18% | -57.25% | +17.07% |
Max Drawdown (1Y)Largest decline over 1 year | -5.32% | -9.11% | +3.79% |
Max Drawdown (3Y)Largest decline over 3 years | -12.67% | -22.80% | +10.13% |
Max Drawdown (5Y)Largest decline over 5 years | -31.06% | -29.33% | -1.73% |
Max Drawdown (10Y)Largest decline over 10 years | -31.06% | -35.96% | +4.90% |
Current DrawdownCurrent decline from peak | -1.38% | -7.75% | +6.37% |
Average DrawdownAverage peak-to-trough decline | -8.17% | -8.01% | -0.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.99% | 2.18% | -0.19% |
Volatility
NRK vs. QQQX - Volatility Comparison
The current volatility for Nuveen New York AMT Free Quality Municipal Income (NRK) is 3.36%, while Nuveen Nasdaq 100 Dynamic Overwrite Fund (QQQX) has a volatility of 6.42%. This indicates that NRK experiences smaller price fluctuations and is considered to be less risky than QQQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NRK | QQQX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.36% | 6.42% | -3.06% |
Volatility (6M)Calculated over the trailing 6-month period | 6.67% | 12.62% | -5.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.51% | 15.32% | -6.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.95% | 19.97% | -10.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.35% | 21.12% | -10.77% |
NRK vs. QQQX - Expense Ratio Comparison
NRK has a 2.16% expense ratio, which is higher than QQQX's 0.89% expense ratio.
Dividends
NRK vs. QQQX - Dividend Comparison
NRK's dividend yield for the trailing twelve months is around 7.78%, less than QQQX's 8.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
QQQX Nuveen Nasdaq 100 Dynamic Overwrite Fund | 8.65% | 7.85% | 6.73% | 7.26% | 9.66% | 5.85% | 6.00% | 6.49% | 8.40% | 5.95% | 7.54% | 7.23% |
Frequently Asked Questions
NRK and QQQX have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QQQX has higher volatility (6.42%) compared to NRK (3.36%). In terms of maximum drawdown, NRK dropped -40.18% vs QQQX's -57.25%.
NRK currently has the higher Sharpe Ratio (2.11 vs 1.43), 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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