NUV vs. NHMRX
NUV (Nuveen Municipal Value Fund Inc.) and NHMRX (Nuveen High Yield Municipal Bond Fund) are both mutual funds - NUV is a Municipal Bonds fund actively managed by Nuveen, while NHMRX is a High Yield Muni fund managed by Nuveen. Over the past 10 years, NUV returned 2.27%/yr vs 3.57%/yr for NHMRX. At a 0.24 correlation, their price movements are largely independent. Both charge a 0.52% expense ratio.
Performance
NUV vs. NHMRX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with NUV having a 3.17% return and NHMRX slightly higher at 3.32%. Over the past 10 years, NUV has underperformed NHMRX with an annualized return of 2.27%, while NHMRX has yielded a comparatively higher 3.57% annualized 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%
NHMRX
- 1D
- -0.14%
- 1M
- 2.39%
- YTD
- 3.32%
- 6M
- 3.96%
- 1Y
- 9.06%
- 3Y*
- 4.96%
- 5Y*
- 0.97%
- 10Y*
- 3.57%
NUV vs. NHMRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NUV Nuveen Municipal Value Fund Inc. | 3.17% | 10.27% | 4.04% | 3.99% | -14.03% | -3.51% | 7.50% | 19.75% | -4.83% | 10.33% |
NHMRX Nuveen High Yield Municipal Bond Fund | 3.32% | 2.75% | 5.62% | 7.31% | -14.96% | 9.93% | 3.25% | 12.59% | 2.06% | 12.10% |
Correlation
The correlation between NUV and NHMRX is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Jun 7, 1999 | 0.24 |
The correlation between NUV and NHMRX shifts across timeframes, from 0.24 (all time) to 0.41 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
NUV vs. NHMRX — Risk / Return Rank
NUV
NHMRX
NUV vs. NHMRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Municipal Value Fund Inc. (NUV) 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.
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 | NHMRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.50 | ||
| Sortino ratioReturn per unit of downside risk | -0.95 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.48 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.63 | 2.60 | +0.03 |
| Martin ratioReturn relative to average drawdown | 10.98 | 7.86 | +3.12 |
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Drawdowns
NUV vs. NHMRX - Drawdown Comparison
The maximum NUV drawdown since its inception was -35.42%, smaller than the maximum NHMRX drawdown of -45.45%. Use the drawdown chart below to compare losses from any high point for NUV and NHMRX.
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Drawdown Indicators
| NUV | NHMRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.42% | -45.45% | +10.03% |
Max Drawdown (1Y)Largest decline over 1 year | -4.20% | -3.58% | -0.62% |
Max Drawdown (3Y)Largest decline over 3 years | -9.24% | -10.19% | +0.95% |
Max Drawdown (5Y)Largest decline over 5 years | -28.29% | -21.52% | -6.77% |
Max Drawdown (10Y)Largest decline over 10 years | -28.29% | -22.22% | -6.07% |
Current DrawdownCurrent decline from peak | -6.61% | -0.14% | -6.47% |
Average DrawdownAverage peak-to-trough decline | -8.99% | -5.32% | -3.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.00% | 1.18% | -0.18% |
Volatility
NUV vs. NHMRX - Volatility Comparison
Nuveen Municipal Value Fund Inc. (NUV) has a higher volatility of 1.91% compared to Nuveen High Yield Municipal Bond Fund (NHMRX) at 1.07%. This indicates that NUV's price experiences larger fluctuations and is considered to be riskier than NHMRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NUV | NHMRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.91% | 1.07% | +0.84% |
Volatility (6M)Calculated over the trailing 6-month period | 5.21% | 3.06% | +2.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.93% | 4.41% | +2.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.53% | 6.85% | +2.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.33% | 6.73% | +3.60% |
NUV vs. NHMRX - Expense Ratio Comparison
Both NUV and NHMRX have an expense ratio of 0.52%.
Dividends
NUV vs. NHMRX - Dividend Comparison
NUV's dividend yield for the trailing twelve months is around 4.26%, less than NHMRX's 5.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NHMRX Nuveen High Yield Municipal Bond Fund | 5.61% | 6.07% | 5.79% | 7.34% | 5.64% | 4.69% | 5.03% | 5.39% | 5.47% | 5.38% | 5.88% | 5.60% |
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
NUV and NHMRX have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NUV has higher volatility (1.91%) compared to NHMRX (1.07%). In terms of maximum drawdown, NUV dropped -35.42% vs NHMRX's -45.45%.
NHMRX currently has the higher Sharpe Ratio (2.11 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.
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