NSIOX vs. TMNIX
NSIOX (Nuveen Strategic Municipal Opportunities Fund) and TMNIX (Counterpoint Tactical Municipal Fund) are both High Yield Muni funds. Over the past 5 years, NSIOX returned 0.03%/yr vs 1.78%/yr for TMNIX. Their 0.60 correlation means they have sometimes moved together and sometimes differently. NSIOX charges 0.56%/yr vs 1.00%/yr for TMNIX.
Performance
NSIOX vs. TMNIX - Performance Comparison
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Returns By Period
In the year-to-date period, NSIOX achieves a 0.44% return, which is significantly higher than TMNIX's 0.40% return.
NSIOX
- 1D
- -0.31%
- 1M
- -1.92%
- 6M
- -0.25%
- YTD
- 0.44%
- 1Y
- 4.96%
- 3Y*
- 3.88%
- 5Y*
- 0.03%
- 10Y*
- 2.74%
- ALL TIME*
- 3.30%
TMNIX
- 1D
- 0.00%
- 1M
- -1.95%
- 6M
- 0.04%
- YTD
- 0.40%
- 1Y
- 4.98%
- 3Y*
- 3.56%
- 5Y*
- 1.78%
- 10Y*
- —
- ALL TIME*
- 3.54%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
NSIOX vs. TMNIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
NSIOX Nuveen Strategic Municipal Opportunities Fund | 0.44% | 3.19% | 4.61% | 7.17% | -13.81% | 5.21% | 6.82% | 10.07% | 2.33% |
TMNIX Counterpoint Tactical Municipal Fund | 0.40% | 2.56% | 3.92% | 6.85% | -3.12% | 2.96% | 6.73% | 8.70% | 0.12% |
Correlation
The correlation between NSIOX and TMNIX is 0.73, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.73 |
Correlation (3Y) Balances recent behavior with more history. | 0.67 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.61 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2018 | 0.60 |
The correlation between NSIOX and TMNIX shifts across timeframes, from 0.60 (all time) to 0.73 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
NSIOX vs. TMNIX — Risk / Return Rank
NSIOX
TMNIX
NSIOX vs. TMNIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Strategic Municipal Opportunities Fund (NSIOX) and Counterpoint Tactical Municipal Fund (TMNIX). 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 | TMNIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.46 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | 2.27 | -0.25 |
| Martin ratioReturn relative to average drawdown | 6.23 | 5.87 | +0.36 |
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Drawdowns
NSIOX vs. TMNIX - Drawdown Comparison
The maximum NSIOX drawdown since its inception was -18.38%, which is greater than TMNIX's maximum drawdown of -4.63%. Use the drawdown chart below to compare losses from any high point for NSIOX and TMNIX.
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Drawdown Indicators
| NSIOX | TMNIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.38% | -4.63% | -13.75% |
Max Drawdown (1Y)Largest decline over 1 year | -2.91% | -2.26% | -0.65% |
Max Drawdown (3Y)Largest decline over 3 years | -5.60% | -4.61% | -0.99% |
Max Drawdown (5Y)Largest decline over 5 years | -18.38% | -4.61% | -13.77% |
Max Drawdown (10Y)Largest decline over 10 years | -18.38% | — | — |
Current DrawdownCurrent decline from peak | -1.92% | -1.95% | +0.03% |
Average DrawdownAverage peak-to-trough decline | -3.54% | -1.46% | -2.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 0.87% | +0.07% |
Volatility
NSIOX vs. TMNIX - Volatility Comparison
Nuveen Strategic Municipal Opportunities Fund (NSIOX) has a higher volatility of 0.95% compared to Counterpoint Tactical Municipal Fund (TMNIX) at 0.78%. This indicates that NSIOX's price experiences larger fluctuations and is considered to be riskier than TMNIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NSIOX | TMNIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 0.78% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 2.30% | 2.08% | +0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.96% | 2.70% | +0.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.52% | 3.06% | +1.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.68% | 2.68% | +2.00% |
NSIOX vs. TMNIX - Expense Ratio Comparison
NSIOX has a 0.56% expense ratio, which is lower than TMNIX's 1.00% expense ratio.
Dividends
NSIOX vs. TMNIX - Dividend Comparison
NSIOX's dividend yield for the trailing twelve months is around 3.86%, more than TMNIX's 3.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NSIOX Nuveen Strategic Municipal Opportunities Fund | 3.86% | 4.53% | 3.91% | 3.85% | 4.20% | 4.25% | 2.88% | 3.25% | 3.12% | 3.22% | 4.09% | 2.48% |
TMNIX Counterpoint Tactical Municipal Fund | 3.48% | 2.79% | 3.31% | 3.40% | 0.36% | 4.39% | 2.36% | 3.69% | 1.10% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NSIOX and TMNIX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NSIOX has higher volatility (0.95%) compared to TMNIX (0.78%). In terms of maximum drawdown, NSIOX dropped -18.38% vs TMNIX's -4.63%.
NSIOX currently has the higher Sharpe Ratio (1.98 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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