NVG vs. IIM
NVG (Nuveen AMT-Free Municipal Credit Income Fund) and IIM (Invesco Value Municipal Income Trust) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 10 years, NVG returned 3.16%/yr vs 2.41%/yr for IIM. Their 0.45 correlation means their historical movements had little consistent relationship.
Performance
NVG vs. IIM - Performance Comparison
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Returns By Period
In the year-to-date period, NVG achieves a 2.27% return, which is significantly lower than IIM's 5.90% return. Over the past 10 years, NVG has outperformed IIM with an annualized return of 3.16%, while IIM has yielded a comparatively lower 2.41% annualized return.
NVG
- 1D
- -0.40%
- 1M
- -2.83%
- 6M
- 0.14%
- YTD
- 2.27%
- 1Y
- 13.77%
- 3Y*
- 8.98%
- 5Y*
- -1.03%
- 10Y*
- 3.16%
- ALL TIME*
- 5.24%
IIM
- 1D
- -0.24%
- 1M
- -2.75%
- 6M
- 4.49%
- YTD
- 5.90%
- 1Y
- 17.36%
- 3Y*
- 8.78%
- 5Y*
- 0.03%
- 10Y*
- 2.41%
- ALL TIME*
- 5.42%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.23M | $1.26M | $1.31M | |
| $6.06M | $5.74M | $6.29M |
NVG vs. IIM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NVG Nuveen AMT-Free Municipal Credit Income Fund | 2.27% | 11.61% | 10.79% | 1.94% | -28.47% | 12.14% | 6.40% | 25.63% | -4.03% | 13.19% |
IIM Invesco Value Municipal Income Trust | 5.90% | 11.88% | 8.04% | 2.05% | -25.41% | 14.13% | 7.07% | 18.79% | -4.40% | 7.05% |
Correlation
The correlation between NVG and IIM is 0.61, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.61 |
Correlation (3Y) Balances recent behavior with more history. | 0.68 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.65 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.59 |
Correlation (All Time) Calculated using the full available price history since Sep 12, 2002 | 0.45 |
The correlation between NVG and IIM shifts across timeframes, from 0.45 (all time) to 0.68 (3 years), reflecting how their relationship changes across market environments.
Fundamentals
NVG:
$2.68B
IIM:
$588.36M
NVG:
$1.09
IIM:
$0.85
NVG:
11.35
IIM:
14.70
NVG:
0.02
IIM:
0.08
NVG:
5.81
IIM:
8.06
NVG:
0.98
IIM:
0.99
NVG:
$457.21M
IIM:
$73.01M
NVG:
$400.60M
IIM:
$54.83M
NVG:
$440.83M
IIM:
$51.93M
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Return for Risk
NVG vs. IIM — Risk / Return Rank
NVG
IIM
NVG vs. IIM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen AMT-Free Municipal Credit Income Fund (NVG) and Invesco Value Municipal Income Trust (IIM). 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.
| NVG | IIM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.31 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.42 | 1.98 | -0.56 |
| Martin ratioReturn relative to average drawdown | 4.34 | 5.95 | -1.60 |
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Drawdowns
NVG vs. IIM - Drawdown Comparison
The maximum NVG drawdown since its inception was -41.72%, roughly equal to the maximum IIM drawdown of -40.17%. Use the drawdown chart below to compare losses from any high point for NVG and IIM.
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Drawdown Indicators
| NVG | IIM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.72% | -40.17% | -1.55% |
Max Drawdown (1Y)Largest decline over 1 year | -10.44% | -9.19% | -1.25% |
Max Drawdown (3Y)Largest decline over 3 years | -14.34% | -13.49% | -0.85% |
Max Drawdown (5Y)Largest decline over 5 years | -40.58% | -35.75% | -4.83% |
Max Drawdown (10Y)Largest decline over 10 years | -40.58% | -35.75% | -4.83% |
Current DrawdownCurrent decline from peak | -7.79% | -3.27% | -4.52% |
Average DrawdownAverage peak-to-trough decline | -7.91% | -7.33% | -0.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.40% | 3.05% | +0.35% |
Volatility
NVG vs. IIM - Volatility Comparison
Nuveen AMT-Free Municipal Credit Income Fund (NVG) and Invesco Value Municipal Income Trust (IIM) have volatilities of 2.30% and 2.39%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NVG | IIM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.30% | 2.39% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 8.87% | 8.20% | +0.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.60% | 10.83% | -0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.08% | 12.49% | +0.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.87% | 12.79% | +0.08% |
Dividends
NVG vs. IIM - Dividend Comparison
NVG's dividend yield for the trailing twelve months is around 7.65%, more than IIM's 7.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IIM Invesco Value Municipal Income Trust | 7.40% | 7.51% | 6.58% | 4.72% | 5.87% | 4.51% | 4.48% | 4.61% | 5.43% | 4.99% | 5.52% | 5.20% |
NVG Nuveen AMT-Free Municipal Credit Income Fund | 7.65% | 7.49% | 6.74% | 4.45% | 6.18% | 4.69% | 5.24% | 4.94% | 6.07% | 5.67% | 6.17% | 5.46% |
Financials
NVG vs. IIM - Financials Comparison
This section allows you to compare key financial metrics between Nuveen AMT-Free Municipal Credit Income Fund and Invesco Value Municipal Income Trust. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
Frequently Asked Questions
NVG and IIM have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IIM has higher volatility (2.39%) compared to NVG (2.30%). In terms of maximum drawdown, NVG dropped -41.72% vs IIM's -40.17%.
IIM currently has the higher Sharpe Ratio (1.68 vs 1.41), 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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