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NVG vs. NEA
Performance
Return for Risk
Drawdowns
Volatility
Dividends
Financials

Performance

NVG vs. NEA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen AMT-Free Municipal Credit Income Fund (NVG) and Nuveen AMT-Free Quality Municipal Income Fund (NEA). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, NVG achieves a 4.59% return, which is significantly higher than NEA's 3.13% return. Over the past 10 years, NVG has outperformed NEA with an annualized return of 3.56%, while NEA has yielded a comparatively lower 3.03% annualized return.


NVG

1D
-0.08%
1M
1.42%
6M
3.44%
YTD
4.59%
1Y
15.45%
3Y*
10.39%
5Y*
-0.59%
10Y*
3.56%

NEA

1D
0.00%
1M
0.85%
6M
2.08%
YTD
3.13%
1Y
13.06%
3Y*
9.02%
5Y*
-0.60%
10Y*
3.03%
*Multi-year figures are annualized to reflect compound growth (CAGR)

NVG vs. NEA - Yearly Performance Comparison


2026 (YTD)202520242023202220212020201920182017
NVG
Nuveen AMT-Free Municipal Credit Income Fund
4.59%11.61%10.79%1.94%-28.47%12.14%6.40%25.63%-4.03%13.19%
NEA
Nuveen AMT-Free Quality Municipal Income Fund
3.13%11.31%9.50%0.75%-23.32%8.16%10.07%22.42%-5.72%8.77%

Correlation

The correlation between NVG and NEA is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.


Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.73

Correlation (3Y)
Calculated over the trailing 3-year period

0.78

Correlation (5Y)
Calculated over the trailing 5-year period

0.76

Correlation (10Y)
Calculated over the trailing 10-year period

0.68

Correlation (All Time)
Calculated using the full available price history since Nov 22, 2002

0.48

Over the past year, NVG and NEA have become more correlated (0.73) than their long-term average of 0.48, meaning their price movements have been converging.

Fundamentals

Market Cap

NVG:

$2.75B

NEA:

$3.46B

EPS

NVG:

$1.09

NEA:

$0.80

PE Ratio

NVG:

11.68

NEA:

14.39

PEG Ratio

NVG:

0.02

NEA:

0.04

PS Ratio

NVG:

5.98

NEA:

6.85

PB Ratio

NVG:

1.01

NEA:

1.00

Total Revenue (TTM)

NVG:

$457.21M

NEA:

$507.00M

Gross Profit (TTM)

NVG:

$400.60M

NEA:

$445.06M

EBITDA (TTM)

NVG:

$440.83M

NEA:

$528.27M

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Return for Risk

NVG vs. NEA — Risk / Return Rank

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

NVG
NVG Risk / Return Rank: 8080
Overall Rank
NVG Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
NVG Sortino Ratio Rank: 8383
Sortino Ratio Rank
NVG Omega Ratio Rank: 8282
Omega Ratio Rank
NVG Calmar Ratio Rank: 7474
Calmar Ratio Rank
NVG Martin Ratio Rank: 7979
Martin Ratio Rank

NEA
NEA Risk / Return Rank: 7979
Overall Rank
NEA Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
NEA Sortino Ratio Rank: 7777
Sortino Ratio Rank
NEA Omega Ratio Rank: 7777
Omega Ratio Rank
NEA Calmar Ratio Rank: 7777
Calmar Ratio Rank
NEA Martin Ratio Rank: 8585
Martin Ratio Rank
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.

NVG vs. NEA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen AMT-Free Municipal Credit Income Fund (NVG) and Nuveen AMT-Free Quality Municipal Income Fund (NEA). 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.


NVGNEADifference
Sharpe ratioReturn per unit of total volatility

+0.25

Sortino ratioReturn per unit of downside risk

+0.34

Omega ratioGain probability vs. loss probability

1.28

1.24

+0.04

Calmar ratioReturn relative to maximum drawdown

1.49

1.80

-0.32

Martin ratioReturn relative to average drawdown

4.72

7.20

-2.48

NVG vs. NEA - Sharpe Ratio Comparison

The current NVG Sharpe Ratio is 1.47, which is comparable to the NEA Sharpe Ratio of 1.22. The chart below compares the historical Sharpe Ratios of NVG and NEA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.


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Drawdowns

NVG vs. NEA - Drawdown Comparison

The maximum NVG drawdown since its inception was -41.72%, roughly equal to the maximum NEA drawdown of -43.83%. Use the drawdown chart below to compare losses from any high point for NVG and NEA.


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Drawdown Indicators


NVGNEADifference

Max Drawdown

Largest peak-to-trough decline

-41.72%

-43.83%

+2.11%

Max Drawdown (1Y)

Largest decline over 1 year

-10.44%

-7.27%

-3.17%

Max Drawdown (3Y)

Largest decline over 3 years

-17.22%

-15.16%

-2.06%

Max Drawdown (5Y)

Largest decline over 5 years

-40.58%

-36.57%

-4.01%

Max Drawdown (10Y)

Largest decline over 10 years

-40.58%

-36.57%

-4.01%

Current Drawdown

Current decline from peak

-5.70%

-4.11%

-1.59%

Average Drawdown

Average peak-to-trough decline

-7.91%

-7.99%

+0.08%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.28%

1.83%

+1.45%

Volatility

NVG vs. NEA - Volatility Comparison

The current volatility for Nuveen AMT-Free Municipal Credit Income Fund (NVG) is 1.88%, while Nuveen AMT-Free Quality Municipal Income Fund (NEA) has a volatility of 2.15%. This indicates that NVG experiences smaller price fluctuations and is considered to be less risky than NEA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


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Volatility by Period


NVGNEADifference

Volatility (1M)

Calculated over the trailing 1-month period

1.88%

2.15%

-0.27%

Volatility (6M)

Calculated over the trailing 6-month period

8.88%

8.67%

+0.21%

Volatility (1Y)

Calculated over the trailing 1-year period

10.57%

10.80%

-0.23%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.08%

11.51%

+1.57%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

12.88%

11.81%

+1.07%

NVG vs. NEA - Expense Ratio Comparison

NVG has a 1.50% expense ratio, which is higher than NEA's 1.41% expense ratio.


Dividends

NVG vs. NEA - Dividend Comparison

NVG's dividend yield for the trailing twelve months is around 7.43%, more than NEA's 7.13% yield.


PositionTTM20252024202320222021202020192018201720162015
NEA
Nuveen AMT-Free Quality Municipal Income Fund
7.13%7.36%6.63%3.95%5.49%4.50%4.45%4.46%5.40%5.33%5.70%5.71%
NVG
Nuveen AMT-Free Municipal Credit Income Fund
7.43%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. NEA - Financials Comparison

This section allows you to compare key financial metrics between Nuveen AMT-Free Municipal Credit Income Fund and Nuveen AMT-Free Quality Municipal Income Fund. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.


Quarterly
Annual

Total Revenue: Total amount of money received from sales and other business activities


0.00100.00M200.00M300.00M400.00M500.00M20222023202420252026
114.86M
132.50M
(NVG) Total Revenue
(NEA) Total Revenue
Values in USD except per share items

NVG vs. NEA - Profitability Comparison

The chart below illustrates the profitability comparison between Nuveen AMT-Free Municipal Credit Income Fund and Nuveen AMT-Free Quality Municipal Income Fund over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

Gross Margin
Operating Margin
Net Margin
Quarterly
Annual

60.0%70.0%80.0%90.0%100.0%20222023202420252026
87.4%
87.7%
Portfolio components
NVG - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Nuveen AMT-Free Municipal Credit Income Fund reported a gross profit of 100.36M and revenue of 114.86M. Therefore, the gross margin over that period was 87.4%.

NEA - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Nuveen AMT-Free Quality Municipal Income Fund reported a gross profit of 116.19M and revenue of 132.50M. Therefore, the gross margin over that period was 87.7%.

NVG - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Nuveen AMT-Free Municipal Credit Income Fund reported an operating income of 67.53M and revenue of 114.86M, resulting in an operating margin of 58.8%.

NEA - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Nuveen AMT-Free Quality Municipal Income Fund reported an operating income of 79.07M and revenue of 132.50M, resulting in an operating margin of 59.7%.

NVG - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Nuveen AMT-Free Municipal Credit Income Fund reported a net income of 35.82M and revenue of 114.86M, resulting in a net margin of 31.2%.

NEA - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Nuveen AMT-Free Quality Municipal Income Fund reported a net income of 39.90M and revenue of 132.50M, resulting in a net margin of 30.1%.


Frequently Asked Questions


NVG and NEA have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

NEA has higher volatility (2.15%) compared to NVG (1.88%). In terms of maximum drawdown, NVG dropped -41.72% vs NEA's -43.83%.

NVG currently has the higher Sharpe Ratio (1.47 vs 1.22), 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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