NVG vs. OKE
NVG (Nuveen AMT-Free Municipal Credit Income Fund) and OKE (ONEOK, Inc.) are both stocks. NVG operates in Asset Management (Financial Services), while OKE operates in Oil & Gas Midstream (Energy). Over the past 10 years, NVG returned 3.56%/yr vs 13.38%/yr for OKE. At a 0.12 correlation, their price movements are largely independent.
Performance
NVG vs. OKE - Performance Comparison
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Returns By Period
In the year-to-date period, NVG achieves a 4.59% return, which is significantly lower than OKE's 28.67% return. Over the past 10 years, NVG has underperformed OKE with an annualized return of 3.56%, while OKE has yielded a comparatively higher 13.38% 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%
OKE
- 1D
- 2.52%
- 1M
- 1.77%
- 6M
- 30.46%
- YTD
- 28.67%
- 1Y
- 19.58%
- 3Y*
- 19.07%
- 5Y*
- 17.23%
- 10Y*
- 13.38%
NVG vs. OKE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
OKE ONEOK, Inc. | 28.67% | -22.94% | 50.10% | 13.21% | 18.86% | 64.67% | -43.45% | 47.76% | 6.27% | -2.12% |
Correlation
The correlation between NVG and OKE is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Sep 12, 2002 | 0.12 |
The correlation between NVG and OKE shifts across timeframes, from -0.10 (1 year) to 0.13 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
NVG:
$2.75B
OKE:
$58.08B
NVG:
$1.09
OKE:
$5.61
NVG:
11.68
OKE:
16.45
NVG:
0.02
OKE:
1.17
NVG:
5.98
OKE:
1.65
NVG:
1.01
OKE:
2.60
NVG:
$457.21M
OKE:
$35.20B
NVG:
$400.60M
OKE:
$8.43B
NVG:
$440.83M
OKE:
$7.85B
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Return for Risk
NVG vs. OKE — Risk / Return Rank
NVG
OKE
NVG vs. OKE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen AMT-Free Municipal Credit Income Fund (NVG) and ONEOK, Inc. (OKE). 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 | OKE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.73 | ||
| Sortino ratioReturn per unit of downside risk | +1.06 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.14 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.49 | 0.95 | +0.54 |
| Martin ratioReturn relative to average drawdown | 4.72 | 2.12 | +2.60 |
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Drawdowns
NVG vs. OKE - Drawdown Comparison
The maximum NVG drawdown since its inception was -41.72%, smaller than the maximum OKE drawdown of -80.17%. Use the drawdown chart below to compare losses from any high point for NVG and OKE.
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Drawdown Indicators
| NVG | OKE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.72% | -80.17% | +38.45% |
Max Drawdown (1Y)Largest decline over 1 year | -10.44% | -20.76% | +10.32% |
Max Drawdown (3Y)Largest decline over 3 years | -17.22% | -42.17% | +24.95% |
Max Drawdown (5Y)Largest decline over 5 years | -40.58% | -42.17% | +1.59% |
Max Drawdown (10Y)Largest decline over 10 years | -40.58% | -80.17% | +39.59% |
Current DrawdownCurrent decline from peak | -5.70% | -14.95% | +9.25% |
Average DrawdownAverage peak-to-trough decline | -7.91% | -16.67% | +8.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.28% | 9.26% | -5.98% |
Volatility
NVG vs. OKE - Volatility Comparison
The current volatility for Nuveen AMT-Free Municipal Credit Income Fund (NVG) is 1.88%, while ONEOK, Inc. (OKE) has a volatility of 8.52%. This indicates that NVG experiences smaller price fluctuations and is considered to be less risky than OKE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NVG | OKE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.88% | 8.52% | -6.64% |
Volatility (6M)Calculated over the trailing 6-month period | 8.88% | 21.21% | -12.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.57% | 26.68% | -16.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.08% | 28.24% | -15.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.88% | 38.91% | -26.03% |
Dividends
NVG vs. OKE - Dividend Comparison
NVG's dividend yield for the trailing twelve months is around 7.43%, more than OKE's 4.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
OKE ONEOK, Inc. | 4.56% | 5.61% | 3.94% | 5.44% | 5.69% | 6.36% | 9.74% | 4.66% | 6.01% | 5.09% | 4.28% | 9.85% |
Financials
NVG vs. OKE - Financials Comparison
This section allows you to compare key financial metrics between Nuveen AMT-Free Municipal Credit Income Fund and ONEOK, Inc.. 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
NVG vs. OKE - Profitability Comparison
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%.
OKE - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, ONEOK, Inc. reported a gross profit of 2.57B and revenue of 9.62B. Therefore, the gross margin over that period was 26.7%.
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%.
OKE - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, ONEOK, Inc. reported an operating income of 1.43B and revenue of 9.62B, resulting in an operating margin of 14.9%.
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%.
OKE - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, ONEOK, Inc. reported a net income of 774.00M and revenue of 9.62B, resulting in a net margin of 8.1%.
Frequently Asked Questions
NVG and OKE have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OKE has higher volatility (8.52%) compared to NVG (1.88%). In terms of maximum drawdown, NVG dropped -41.72% vs OKE's -80.17%.
NVG currently has the higher Sharpe Ratio (1.47 vs 0.74), 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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