NTNYX vs. NHMRX

Last updated Jun 6, 2026

NTNYX (Nuveen New York Municipal Bond Fund) and NHMRX (Nuveen High Yield Municipal Bond Fund) are both mutual funds - NTNYX is a Municipal Bonds fund managed by Nuveen, while NHMRX is a High Yield Muni fund managed by Nuveen. Over the past 10 years, NTNYX returned 1.99%/yr vs 3.74%/yr for NHMRX. Their correlation of 0.80 suggests significant overlap in exposure. NTNYX charges 0.55%/yr vs 0.52%/yr for NHMRX.

Performance

NTNYX vs. NHMRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen New York Municipal Bond Fund (NTNYX) and Nuveen High Yield Municipal Bond Fund (NHMRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NTNYX achieves a 2.03% return, which is significantly lower than NHMRX's 3.18% return. Over the past 10 years, NTNYX has underperformed NHMRX with an annualized return of 1.99%, while NHMRX has yielded a comparatively higher 3.74% annualized return.

NTNYX

• 1D: 0.00%
• 1M: 0.77%
• YTD: 2.03%
• 6M: 2.39%
• 1Y: 7.26%
• 3Y*: 3.69%
• 5Y*: 0.43%
• 10Y*: 1.99%

NHMRX

• 1D: 0.07%
• 1M: 0.96%
• YTD: 3.18%
• 6M: 3.94%
• 1Y: 9.90%
• 3Y*: 5.21%
• 5Y*: 1.20%
• 10Y*: 3.74%

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

NTNYX vs. NHMRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NTNYX Nuveen New York Municipal Bond Fund	2.03%	2.71%	2.44%	7.37%	-12.23%	3.22%	4.11%	7.99%	0.48%	6.06%
NHMRX Nuveen High Yield Municipal Bond Fund	3.18%	3.24%	5.62%	7.31%	-14.96%	9.93%	3.25%	12.59%	2.06%	12.10%

Correlation

The correlation between NTNYX and NHMRX is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Jun 8, 1999	0.80

The correlation between NTNYX and NHMRX shifts across timeframes, from 0.80 (all time) to 0.91 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

NTNYX vs. NHMRX — Risk / Return Rank

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

NTNYX

NTNYX Risk / Return Rank: 71
NTNYX Sharpe Ratio Rank: 76
NTNYX Sortino Ratio Rank: 85
NTNYX Omega Ratio Rank: 88
NTNYX Calmar Ratio Rank: 63
NTNYX Martin Ratio Rank: 43

NHMRX

NHMRX Risk / Return Rank: 60
NHMRX Sharpe Ratio Rank: 58
NHMRX Sortino Ratio Rank: 72
NHMRX Omega Ratio Rank: 78
NHMRX Calmar Ratio Rank: 54
NHMRX Martin Ratio Rank: 39

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.

NTNYX vs. NHMRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen New York Municipal Bond Fund (NTNYX) and Nuveen High Yield Municipal Bond Fund (NHMRX). 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.

	NTNYX	NHMRX	Difference
Sharpe ratio: Return per unit of total volatility	2.46	2.18	+0.28
Sortino ratio: Return per unit of downside risk	4.01	3.45	+0.56
Omega ratio: Gain probability vs. loss probability	1.61	1.50	+0.11
Calmar ratio: Return relative to maximum drawdown	2.98	2.72	+0.25
Martin ratio: Return relative to average drawdown	8.81	8.24	+0.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NTNYX vs. NHMRX - Sharpe Ratio Comparison

The current NTNYX Sharpe Ratio is 2.46, which is comparable to the NHMRX Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of NTNYX and NHMRX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NTNYX	NHMRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.46	2.18	+0.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.09	0.18	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	0.56	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	1.05	0.89	+0.16

Drawdowns

NTNYX vs. NHMRX - Drawdown Comparison

The maximum NTNYX drawdown since its inception was -21.49%, smaller than the maximum NHMRX drawdown of -45.45%. Use the drawdown chart below to compare losses from any high point for NTNYX and NHMRX.

Drawdown Indicators

	NTNYX	NHMRX	Difference
Max Drawdown Largest peak-to-trough decline	-21.49%	-45.45%	+23.96%
Max Drawdown (1Y) Largest decline over 1 year	-2.46%	-3.58%	+1.12%
Max Drawdown (3Y) Largest decline over 3 years	-7.76%	-10.49%	+2.73%
Max Drawdown (5Y) Largest decline over 5 years	-17.65%	-21.52%	+3.87%
Max Drawdown (10Y) Largest decline over 10 years	-17.65%	-22.22%	+4.57%
Current Drawdown Current decline from peak	-0.02%	-0.00%	-0.02%
Average Drawdown Average peak-to-trough decline	-2.44%	-5.32%	+2.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.83%	1.18%	-0.35%

Volatility

NTNYX vs. NHMRX - Volatility Comparison

The current volatility for Nuveen New York Municipal Bond Fund (NTNYX) is 1.20%, while Nuveen High Yield Municipal Bond Fund (NHMRX) has a volatility of 1.58%. This indicates that NTNYX experiences smaller price fluctuations and is considered to be less risky than NHMRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NTNYX	NHMRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.20%	1.58%	-0.38%
Volatility (6M) Calculated over the trailing 6-month period	2.12%	3.10%	-0.98%
Volatility (1Y) Calculated over the trailing 1-year period	2.98%	4.48%	-1.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.67%	6.85%	-2.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.53%	6.73%	-2.20%

NTNYX vs. NHMRX - Expense Ratio Comparison

NTNYX has a 0.55% expense ratio, which is higher than NHMRX's 0.52% expense ratio.

Dividends

NTNYX vs. NHMRX - Dividend Comparison

NTNYX's dividend yield for the trailing twelve months is around 3.81%, less than NHMRX's 6.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NHMRX Nuveen High Yield Municipal Bond Fund	6.09%	6.54%	5.79%	7.34%	5.64%	4.69%	5.03%	5.39%	5.47%	5.38%	5.88%	5.60%
NTNYX Nuveen New York Municipal Bond Fund	3.81%	4.18%	4.16%	3.84%	3.39%	2.81%	2.99%	3.45%	3.42%	3.66%	3.84%	3.88%

Frequently Asked Questions

Can I hold both NTNYX and NHMRX in my portfolio?

NTNYX and NHMRX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NTNYX or NHMRX?

NHMRX has higher volatility (1.58%) compared to NTNYX (1.20%). In terms of maximum drawdown, NTNYX dropped -21.49% vs NHMRX's -45.45%.

Which has better risk-adjusted returns?

NTNYX currently has the higher Sharpe Ratio (2.46 vs 2.18), 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.