NUV vs. FCOQX

Last updated Jun 24, 2026

NUV (Nuveen Municipal Value Fund Inc.) and FCOQX (Franklin Colorado Tax-Free Income Fund Class A) are both Municipal Bonds funds. NUV is actively managed, while FCOQX is passively managed. Over the past 5 years, NUV returned -0.62%/yr vs 0.42%/yr for FCOQX. At a 0.31 correlation, their price movements are largely independent. NUV charges 0.52%/yr vs 0.85%/yr for FCOQX.

Performance

NUV vs. FCOQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Municipal Value Fund Inc. (NUV) and Franklin Colorado Tax-Free Income Fund Class A (FCOQX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NUV achieves a 3.17% return, which is significantly higher than FCOQX's 2.02% return.

NUV

• 1D: 0.33%
• 1M: 2.03%
• YTD: 3.17%
• 6M: 3.97%
• 1Y: 10.97%
• 3Y*: 6.05%
• 5Y*: -0.62%
• 10Y*: 2.27%

FCOQX

• 1D: 0.00%
• 1M: 1.80%
• YTD: 2.02%
• 6M: 2.39%
• 1Y: 7.52%
• 3Y*: 3.74%
• 5Y*: 0.42%
• 10Y*: —

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

NUV vs. FCOQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
NUV Nuveen Municipal Value Fund Inc.	3.17%	10.27%	4.04%	3.99%	-14.03%	-3.51%	7.50%	19.75%	-0.59%
FCOQX Franklin Colorado Tax-Free Income Fund Class A	2.02%	3.34%	2.47%	5.62%	-10.97%	1.52%	4.72%	6.41%	0.98%

Correlation

The correlation between NUV and FCOQX is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (All Time) Calculated using the full available price history since Sep 10, 2018	0.31

The correlation between NUV and FCOQX shifts across timeframes, from 0.31 (all time) to 0.43 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

NUV vs. FCOQX — Risk / Return Rank

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

NUV

NUV Risk / Return Rank: 44
NUV Sharpe Ratio Rank: 36
NUV Sortino Ratio Rank: 37
NUV Omega Ratio Rank: 36
NUV Calmar Ratio Rank: 51
NUV Martin Ratio Rank: 58

FCOQX

FCOQX Risk / Return Rank: 76
FCOQX Sharpe Ratio Rank: 86
FCOQX Sortino Ratio Rank: 91
FCOQX Omega Ratio Rank: 91
FCOQX Calmar Ratio Rank: 60
FCOQX Martin Ratio Rank: 50

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.

NUV vs. FCOQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Municipal Value Fund Inc. (NUV) and Franklin Colorado Tax-Free Income Fund Class A (FCOQX). 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.

	NUV	FCOQX	Difference
Sharpe ratio: Return per unit of total volatility	1.61	2.58	-0.98
Sortino ratio: Return per unit of downside risk	2.36	4.12	-1.76
Omega ratio: Gain probability vs. loss probability	1.29	1.63	-0.34
Calmar ratio: Return relative to maximum drawdown	2.63	2.86	-0.23
Martin ratio: Return relative to average drawdown	10.98	9.79	+1.19

NUV vs. FCOQX - Sharpe Ratio Comparison

The current NUV Sharpe Ratio is 1.61, which is lower than the FCOQX Sharpe Ratio of 2.58. The chart below compares the historical Sharpe Ratios of NUV and FCOQX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NUV vs. FCOQX - Drawdown Comparison

The maximum NUV drawdown since its inception was -35.42%, which is greater than FCOQX's maximum drawdown of -15.80%. Use the drawdown chart below to compare losses from any high point for NUV and FCOQX.

Drawdown Indicators

	NUV	FCOQX	Difference
Max Drawdown Largest peak-to-trough decline	-35.42%	-15.80%	-19.62%
Max Drawdown (1Y) Largest decline over 1 year	-4.20%	-2.72%	-1.48%
Max Drawdown (3Y) Largest decline over 3 years	-9.24%	-6.79%	-2.45%
Max Drawdown (5Y) Largest decline over 5 years	-28.29%	-15.80%	-12.49%
Max Drawdown (10Y) Largest decline over 10 years	-28.29%	—	—
Current Drawdown Current decline from peak	-6.61%	0.00%	-6.61%
Average Drawdown Average peak-to-trough decline	-8.99%	-4.12%	-4.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.00%	0.79%	+0.21%

Volatility

NUV vs. FCOQX - Volatility Comparison

Nuveen Municipal Value Fund Inc. (NUV) has a higher volatility of 1.91% compared to Franklin Colorado Tax-Free Income Fund Class A (FCOQX) at 0.75%. This indicates that NUV's price experiences larger fluctuations and is considered to be riskier than FCOQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NUV	FCOQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.91%	0.75%	+1.16%
Volatility (6M) Calculated over the trailing 6-month period	5.21%	2.15%	+3.06%
Volatility (1Y) Calculated over the trailing 1-year period	6.93%	3.01%	+3.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.53%	4.21%	+5.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.33%	4.40%	+5.93%

NUV vs. FCOQX - Expense Ratio Comparison

NUV has a 0.52% expense ratio, which is lower than FCOQX's 0.85% expense ratio.

Dividends

NUV vs. FCOQX - Dividend Comparison

NUV's dividend yield for the trailing twelve months is around 4.26%, more than FCOQX's 3.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCOQX Franklin Colorado Tax-Free Income Fund Class A	3.15%	3.13%	3.01%	2.33%	2.59%	2.09%	2.37%	2.95%	1.06%	0.00%	0.00%	0.00%
NUV Nuveen Municipal Value Fund Inc.	4.26%	4.30%	4.16%	3.94%	3.91%	3.41%	3.35%	3.48%	4.01%	3.99%	4.10%	3.95%

Frequently Asked Questions

Can I hold both NUV and FCOQX in my portfolio?

NUV and FCOQX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NUV or FCOQX?

NUV has higher volatility (1.91%) compared to FCOQX (0.75%). In terms of maximum drawdown, NUV dropped -35.42% vs FCOQX's -15.80%.

Which has better risk-adjusted returns?

FCOQX currently has the higher Sharpe Ratio (2.58 vs 1.61), 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.