NSIOX vs. VWALX
NSIOX (Nuveen Strategic Municipal Opportunities Fund) and VWALX (Vanguard High-Yield Tax-Exempt Fund Admiral Shares) are both High Yield Muni funds. Over the past 10 years, NSIOX returned 2.88%/yr vs 3.01%/yr for VWALX. Their correlation of 0.86 suggests significant overlap in exposure. NSIOX charges 0.56%/yr vs 0.09%/yr for VWALX.
Performance
NSIOX vs. VWALX - Performance Comparison
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Returns By Period
In the year-to-date period, NSIOX achieves a 1.63% return, which is significantly lower than VWALX's 2.43% return. Both investments have delivered pretty close results over the past 10 years, with NSIOX having a 2.88% annualized return and VWALX not far ahead at 3.01%.
NSIOX
- 1D
- -0.10%
- 1M
- 1.60%
- YTD
- 1.63%
- 6M
- 2.13%
- 1Y
- 5.81%
- 3Y*
- 4.35%
- 5Y*
- 0.50%
- 10Y*
- 2.88%
VWALX
- 1D
- -0.09%
- 1M
- 1.97%
- YTD
- 2.43%
- 6M
- 2.88%
- 1Y
- 8.23%
- 3Y*
- 5.38%
- 5Y*
- 1.61%
- 10Y*
- 3.01%
NSIOX vs. VWALX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NSIOX Nuveen Strategic Municipal Opportunities Fund | 1.63% | 3.19% | 4.61% | 7.17% | -13.81% | 5.21% | 6.82% | 10.07% | 3.31% | 9.77% |
VWALX Vanguard High-Yield Tax-Exempt Fund Admiral Shares | 2.43% | 5.06% | 4.08% | 8.45% | -11.69% | 3.42% | 5.49% | 9.58% | 1.38% | 7.96% |
Correlation
The correlation between NSIOX and VWALX is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Jan 8, 2015 | 0.86 |
The correlation between NSIOX and VWALX has been stable across timeframes, ranging from 0.86 to 0.90 - a consistent structural relationship.
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Return for Risk
NSIOX vs. VWALX — Risk / Return Rank
NSIOX
VWALX
NSIOX vs. VWALX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Strategic Municipal Opportunities Fund (NSIOX) and Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX). 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 | VWALX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.58 | ||
| Sortino ratioReturn per unit of downside risk | -1.07 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.67 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.05 | 2.78 | -0.72 |
| Martin ratioReturn relative to average drawdown | 6.06 | 10.12 | -4.06 |
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Drawdowns
NSIOX vs. VWALX - Drawdown Comparison
The maximum NSIOX drawdown since its inception was -18.38%, which is greater than VWALX's maximum drawdown of -17.24%. Use the drawdown chart below to compare losses from any high point for NSIOX and VWALX.
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Drawdown Indicators
| NSIOX | VWALX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.38% | -17.24% | -1.14% |
Max Drawdown (1Y)Largest decline over 1 year | -2.91% | -3.05% | +0.14% |
Max Drawdown (3Y)Largest decline over 3 years | -6.17% | -7.10% | +0.93% |
Max Drawdown (5Y)Largest decline over 5 years | -18.38% | -17.24% | -1.14% |
Max Drawdown (10Y)Largest decline over 10 years | -18.38% | -17.24% | -1.14% |
Current DrawdownCurrent decline from peak | -0.46% | -0.09% | -0.37% |
Average DrawdownAverage peak-to-trough decline | -3.56% | -2.16% | -1.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.98% | 0.84% | +0.14% |
Volatility
NSIOX vs. VWALX - Volatility Comparison
The current volatility for Nuveen Strategic Municipal Opportunities Fund (NSIOX) is 0.78%, while Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX) has a volatility of 0.90%. This indicates that NSIOX experiences smaller price fluctuations and is considered to be less risky than VWALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NSIOX | VWALX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.78% | 0.90% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 2.12% | 2.39% | -0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.93% | 3.24% | -0.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.50% | 4.81% | -0.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.69% | 4.64% | +0.05% |
NSIOX vs. VWALX - Expense Ratio Comparison
NSIOX has a 0.56% expense ratio, which is higher than VWALX's 0.09% expense ratio.
Dividends
NSIOX vs. VWALX - Dividend Comparison
NSIOX's dividend yield for the trailing twelve months is around 4.18%, more than VWALX's 4.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VWALX Vanguard High-Yield Tax-Exempt Fund Admiral Shares | 4.12% | 5.04% | 4.47% | 3.59% | 3.44% | 3.04% | 3.40% | 4.03% | 3.85% | 3.77% | 3.86% | 3.75% |
Frequently Asked Questions
NSIOX and VWALX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VWALX has higher volatility (0.90%) compared to NSIOX (0.78%). In terms of maximum drawdown, NSIOX dropped -18.38% vs VWALX's -17.24%.
VWALX currently has the higher Sharpe Ratio (2.62 vs 2.04), 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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