NSIOX vs. AHYMX
NSIOX (Nuveen Strategic Municipal Opportunities Fund) and AHYMX (abrdn Short Duration High Yield Municipal Fund) are both High Yield Muni funds. Over the past 10 years, NSIOX returned 2.95%/yr vs 1.53%/yr for AHYMX. A 0.67 correlation means they provide meaningful diversification when combined. NSIOX charges 0.56%/yr vs 0.68%/yr for AHYMX.
Performance
NSIOX vs. AHYMX - Performance Comparison
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Returns By Period
In the year-to-date period, NSIOX achieves a 1.73% return, which is significantly higher than AHYMX's 1.18% return. Over the past 10 years, NSIOX has outperformed AHYMX with an annualized return of 2.95%, while AHYMX has yielded a comparatively lower 1.53% annualized return.
NSIOX
- 1D
- 0.10%
- 1M
- 1.70%
- YTD
- 1.73%
- 6M
- 2.23%
- 1Y
- 6.02%
- 3Y*
- 4.42%
- 5Y*
- 0.52%
- 10Y*
- 2.95%
AHYMX
- 1D
- 0.00%
- 1M
- 1.23%
- YTD
- 1.18%
- 6M
- 1.87%
- 1Y
- 4.90%
- 3Y*
- 2.90%
- 5Y*
- 0.13%
- 10Y*
- 1.53%
NSIOX vs. AHYMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NSIOX Nuveen Strategic Municipal Opportunities Fund | 1.73% | 3.19% | 4.61% | 7.17% | -13.81% | 5.21% | 6.82% | 10.07% | 3.31% | 9.77% |
AHYMX abrdn Short Duration High Yield Municipal Fund | 1.18% | 2.91% | 4.07% | 1.56% | -9.36% | 4.06% | 1.81% | 5.23% | 1.50% | 4.19% |
Correlation
The correlation between NSIOX and AHYMX is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Jan 8, 2015 | 0.67 |
The correlation between NSIOX and AHYMX has been stable across timeframes, ranging from 0.67 to 0.76 - a consistent structural relationship.
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Return for Risk
NSIOX vs. AHYMX — Risk / Return Rank
NSIOX
AHYMX
NSIOX vs. AHYMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Strategic Municipal Opportunities Fund (NSIOX) and abrdn Short Duration High Yield Municipal Fund (AHYMX). 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.
| NSIOX | AHYMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.44 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.09 | 2.54 | -0.45 |
| Martin ratioReturn relative to average drawdown | 6.18 | 9.04 | -2.87 |
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Drawdowns
NSIOX vs. AHYMX - Drawdown Comparison
The maximum NSIOX drawdown since its inception was -18.38%, which is greater than AHYMX's maximum drawdown of -11.53%. Use the drawdown chart below to compare losses from any high point for NSIOX and AHYMX.
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Drawdown Indicators
| NSIOX | AHYMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.38% | -11.53% | -6.85% |
Max Drawdown (1Y)Largest decline over 1 year | -2.91% | -1.98% | -0.93% |
Max Drawdown (3Y)Largest decline over 3 years | -6.17% | -4.53% | -1.64% |
Max Drawdown (5Y)Largest decline over 5 years | -18.38% | -11.53% | -6.85% |
Max Drawdown (10Y)Largest decline over 10 years | -18.38% | -11.53% | -6.85% |
Current DrawdownCurrent decline from peak | -0.36% | -0.42% | +0.06% |
Average DrawdownAverage peak-to-trough decline | -3.56% | -2.48% | -1.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.98% | 0.56% | +0.42% |
Volatility
NSIOX vs. AHYMX - Volatility Comparison
The current volatility for Nuveen Strategic Municipal Opportunities Fund (NSIOX) is 0.77%, while abrdn Short Duration High Yield Municipal Fund (AHYMX) has a volatility of 0.90%. This indicates that NSIOX experiences smaller price fluctuations and is considered to be less risky than AHYMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NSIOX | AHYMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.77% | 0.90% | -0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 2.12% | 1.94% | +0.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.93% | 2.65% | +0.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.49% | 2.93% | +1.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.69% | 2.61% | +2.08% |
NSIOX vs. AHYMX - Expense Ratio Comparison
NSIOX has a 0.56% expense ratio, which is lower than AHYMX's 0.68% expense ratio.
Dividends
NSIOX vs. AHYMX - Dividend Comparison
NSIOX's dividend yield for the trailing twelve months is around 4.18%, less than AHYMX's 4.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AHYMX abrdn Short Duration High Yield Municipal Fund | 4.56% | 4.52% | 3.32% | 2.21% | 2.05% | 2.31% | 2.74% | 3.10% | 3.39% | 2.82% | 3.28% | 3.43% |
NSIOX Nuveen Strategic Municipal Opportunities Fund | 4.18% | 4.53% | 3.91% | 3.85% | 4.20% | 4.25% | 2.88% | 3.25% | 3.12% | 3.22% | 4.09% | 2.48% |
Frequently Asked Questions
NSIOX and AHYMX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AHYMX has higher volatility (0.90%) compared to NSIOX (0.77%). In terms of maximum drawdown, NSIOX dropped -18.38% vs AHYMX's -11.53%.
NSIOX currently has the higher Sharpe Ratio (2.08 vs 1.90), 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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