NUV vs. TIEIX

Last updated Jun 24, 2026

NUV (Nuveen Municipal Value Fund Inc.) and TIEIX (Nuveen Equity Index Fund Class I) are both mutual funds - NUV is a Municipal Bonds fund actively managed by Nuveen, while TIEIX is a Large Cap Blend Equities fund tracking the Russell 3000 Index. NUV is actively managed, while TIEIX is passively managed. Over the past 10 years, NUV returned 2.27%/yr vs 15.07%/yr for TIEIX. At a 0.12 correlation, their price movements are largely independent. NUV charges 0.52%/yr vs 0.09%/yr for TIEIX.

Performance

NUV vs. TIEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Municipal Value Fund Inc. (NUV) and Nuveen Equity Index Fund Class I (TIEIX). 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 lower than TIEIX's 10.07% return. Over the past 10 years, NUV has underperformed TIEIX with an annualized return of 2.27%, while TIEIX has yielded a comparatively higher 15.07% 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%

TIEIX

• 1D: -0.33%
• 1M: 0.49%
• YTD: 10.07%
• 6M: 8.95%
• 1Y: 25.43%
• 3Y*: 21.02%
• 5Y*: 12.38%
• 10Y*: 15.07%

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

NUV vs. TIEIX - 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%
TIEIX Nuveen Equity Index Fund Class I	10.07%	17.04%	23.71%	25.92%	-19.18%	25.64%	20.82%	30.89%	-5.27%	19.05%

Correlation

The correlation between NUV and TIEIX is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (10Y) Calculated over the trailing 10-year period	0.20
Correlation (All Time) Calculated using the full available price history since Jun 14, 1999	0.12

The correlation between NUV and TIEIX shifts across timeframes, from 0.12 (all time) to 0.28 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

NUV vs. TIEIX — 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

TIEIX

TIEIX Risk / Return Rank: 63
TIEIX Sharpe Ratio Rank: 60
TIEIX Sortino Ratio Rank: 55
TIEIX Omega Ratio Rank: 55
TIEIX Calmar Ratio Rank: 69
TIEIX Martin Ratio Rank: 78

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. TIEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Municipal Value Fund Inc. (NUV) and Nuveen Equity Index Fund Class I (TIEIX). 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	TIEIX	Difference
Sharpe ratio: Return per unit of total volatility	1.61	2.10	-0.50
Sortino ratio: Return per unit of downside risk	2.36	2.85	-0.49
Omega ratio: Gain probability vs. loss probability	1.29	1.38	-0.08
Calmar ratio: Return relative to maximum drawdown	2.63	3.04	-0.42
Martin ratio: Return relative to average drawdown	10.98	13.55	-2.57

NUV vs. TIEIX - Sharpe Ratio Comparison

The current NUV Sharpe Ratio is 1.61, which is comparable to the TIEIX Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of NUV and TIEIX, 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. TIEIX - Drawdown Comparison

The maximum NUV drawdown since its inception was -35.42%, smaller than the maximum TIEIX drawdown of -55.55%. Use the drawdown chart below to compare losses from any high point for NUV and TIEIX.

Drawdown Indicators

	NUV	TIEIX	Difference
Max Drawdown Largest peak-to-trough decline	-35.42%	-55.55%	+20.13%
Max Drawdown (1Y) Largest decline over 1 year	-4.20%	-8.84%	+4.64%
Max Drawdown (3Y) Largest decline over 3 years	-9.24%	-19.29%	+10.05%
Max Drawdown (5Y) Largest decline over 5 years	-28.29%	-25.06%	-3.23%
Max Drawdown (10Y) Largest decline over 10 years	-28.29%	-34.90%	+6.61%
Current Drawdown Current decline from peak	-6.61%	-1.47%	-5.14%
Average Drawdown Average peak-to-trough decline	-8.99%	-10.28%	+1.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.00%	1.98%	-0.98%

Volatility

NUV vs. TIEIX - Volatility Comparison

The current volatility for Nuveen Municipal Value Fund Inc. (NUV) is 1.91%, while Nuveen Equity Index Fund Class I (TIEIX) has a volatility of 4.73%. This indicates that NUV experiences smaller price fluctuations and is considered to be less risky than TIEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NUV	TIEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.91%	4.73%	-2.82%
Volatility (6M) Calculated over the trailing 6-month period	5.21%	10.07%	-4.86%
Volatility (1Y) Calculated over the trailing 1-year period	6.93%	12.81%	-5.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.53%	17.40%	-7.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.33%	18.45%	-8.12%

NUV vs. TIEIX - Expense Ratio Comparison

NUV has a 0.52% expense ratio, which is higher than TIEIX's 0.09% expense ratio.

Dividends

NUV vs. TIEIX - Dividend Comparison

NUV's dividend yield for the trailing twelve months is around 4.26%, more than TIEIX's 2.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
TIEIX Nuveen Equity Index Fund Class I	2.17%	2.39%	1.63%	1.47%	1.83%	2.08%	1.43%	1.99%	2.45%	0.52%	2.45%	1.27%

Frequently Asked Questions

Can I hold both NUV and TIEIX in my portfolio?

NUV and TIEIX have a correlation of 0.25, 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 TIEIX?

TIEIX has higher volatility (4.73%) compared to NUV (1.91%). In terms of maximum drawdown, NUV dropped -35.42% vs TIEIX's -55.55%.

Which has better risk-adjusted returns?

TIEIX currently has the higher Sharpe Ratio (2.10 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.