NUV vs. MIY
NUV (Nuveen Municipal Value Fund Inc.) and MIY (BlackRock MuniYield Michigan Quality Fund) are both Municipal Bonds funds. Both are actively managed. Over the past 10 years, NUV returned 2.43%/yr vs 2.39%/yr for MIY. At a 0.26 correlation, their price movements are largely independent. NUV charges 0.52%/yr vs 2.25%/yr for MIY.
Performance
NUV vs. MIY - Performance Comparison
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Returns By Period
In the year-to-date period, NUV achieves a 1.79% return, which is significantly lower than MIY's 5.14% return. Both investments have delivered pretty close results over the past 10 years, with NUV having a 2.43% annualized return and MIY not far behind at 2.39%.
NUV
- 1D
- -0.55%
- 1M
- 0.25%
- YTD
- 1.79%
- 6M
- 1.60%
- 1Y
- 10.54%
- 3Y*
- 5.20%
- 5Y*
- -0.87%
- 10Y*
- 2.43%
MIY
- 1D
- -0.66%
- 1M
- 0.54%
- YTD
- 5.14%
- 6M
- 5.36%
- 1Y
- 13.47%
- 3Y*
- 9.00%
- 5Y*
- -0.12%
- 10Y*
- 2.39%
NUV vs. MIY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NUV Nuveen Municipal Value Fund Inc. | 1.79% | 10.27% | 4.04% | 3.99% | -14.03% | -3.51% | 7.50% | 19.75% | -4.83% | 10.33% |
MIY BlackRock MuniYield Michigan Quality Fund | 5.14% | 11.24% | 3.48% | 6.60% | -24.10% | 10.04% | 7.27% | 19.51% | -6.71% | 8.86% |
Correlation
The correlation between NUV and MIY is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Oct 28, 1994 | 0.26 |
The correlation between NUV and MIY shifts across timeframes, from 0.22 (1 year) to 0.47 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
NUV vs. MIY — Risk / Return Rank
NUV
MIY
NUV vs. MIY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Municipal Value Fund Inc. (NUV) and BlackRock MuniYield Michigan Quality Fund (MIY). 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.
| NUV | MIY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.35 | ||
| Sortino ratioReturn per unit of downside risk | +0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.23 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.52 | 1.34 | +1.18 |
| Martin ratioReturn relative to average drawdown | 10.75 | 4.27 | +6.48 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NUV | MIY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.51 | 1.16 | +0.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.09 | -0.01 | -0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.24 | 0.20 | +0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.28 | 0.37 | -0.08 |
Drawdowns
NUV vs. MIY - Drawdown Comparison
The maximum NUV drawdown since its inception was -35.42%, smaller than the maximum MIY drawdown of -42.19%. Use the drawdown chart below to compare losses from any high point for NUV and MIY.
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Drawdown Indicators
| NUV | MIY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.42% | -42.19% | +6.77% |
Max Drawdown (1Y)Largest decline over 1 year | -4.20% | -10.08% | +5.88% |
Max Drawdown (3Y)Largest decline over 3 years | -9.24% | -14.72% | +5.48% |
Max Drawdown (5Y)Largest decline over 5 years | -28.29% | -34.59% | +6.30% |
Max Drawdown (10Y)Largest decline over 10 years | -28.29% | -34.59% | +6.30% |
Current DrawdownCurrent decline from peak | -7.86% | -4.35% | -3.51% |
Average DrawdownAverage peak-to-trough decline | -8.99% | -8.32% | -0.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.98% | 3.16% | -2.18% |
Volatility
NUV vs. MIY - Volatility Comparison
Nuveen Municipal Value Fund Inc. (NUV) has a higher volatility of 2.56% compared to BlackRock MuniYield Michigan Quality Fund (MIY) at 2.28%. This indicates that NUV's price experiences larger fluctuations and is considered to be riskier than MIY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NUV | MIY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.56% | 2.28% | +0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 5.17% | 10.32% | -5.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.99% | 11.69% | -4.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.56% | 11.67% | -2.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.34% | 11.95% | -1.61% |
NUV vs. MIY - Expense Ratio Comparison
NUV has a 0.52% expense ratio, which is lower than MIY's 2.25% expense ratio.
Dividends
NUV vs. MIY - Dividend Comparison
NUV's dividend yield for the trailing twelve months is around 4.30%, less than MIY's 5.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MIY BlackRock MuniYield Michigan Quality Fund | 5.42% | 5.57% | 5.21% | 3.86% | 5.70% | 4.38% | 4.23% | 4.27% | 5.27% | 5.46% | 5.85% | 5.66% |
NUV Nuveen Municipal Value Fund Inc. | 4.30% | 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
NUV and MIY have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NUV has higher volatility (2.56%) compared to MIY (2.28%). In terms of maximum drawdown, NUV dropped -35.42% vs MIY's -42.19%.
NUV currently has the higher Sharpe Ratio (1.51 vs 1.16), 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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