NVHIX vs. MISHX
NVHIX (Nuveen Short Duration High Yield Municipal Bond Fund) and MISHX (AB Municipal Income Shares) are both High Yield Muni funds. Over the past 10 years, NVHIX returned 3.04%/yr vs 3.33%/yr for MISHX. Their 0.65 correlation means they have sometimes moved together and sometimes differently. NVHIX charges 0.55%/yr vs 0.00%/yr for MISHX.
Performance
NVHIX vs. MISHX - Performance Comparison
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Returns By Period
In the year-to-date period, NVHIX achieves a 1.56% return, which is significantly higher than MISHX's 0.89% return. Over the past 10 years, NVHIX has underperformed MISHX with an annualized return of 3.04%, while MISHX has yielded a comparatively higher 3.33% annualized return.
NVHIX
- 1D
- -0.21%
- 1M
- -1.06%
- 6M
- 0.81%
- YTD
- 1.56%
- 1Y
- 4.95%
- 3Y*
- 4.19%
- 5Y*
- 1.68%
- 10Y*
- 3.04%
- ALL TIME*
- 3.46%
MISHX
- 1D
- -0.36%
- 1M
- -2.05%
- 6M
- 0.10%
- YTD
- 0.89%
- 1Y
- 6.01%
- 3Y*
- 5.33%
- 5Y*
- 1.03%
- 10Y*
- 3.33%
- ALL TIME*
- 4.30%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
NVHIX vs. MISHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NVHIX Nuveen Short Duration High Yield Municipal Bond Fund | 1.56% | 2.43% | 6.88% | 3.54% | -6.73% | 8.44% | -0.10% | 8.27% | 3.47% | 8.17% |
MISHX AB Municipal Income Shares | 0.89% | 6.41% | 5.29% | 6.24% | -12.77% | 6.81% | 6.22% | 11.52% | 0.80% | 9.59% |
Correlation
The correlation between NVHIX and MISHX is 0.70, 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. | 0.70 |
Correlation (3Y) Balances recent behavior with more history. | 0.70 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.71 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.68 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2013 | 0.65 |
The correlation between NVHIX and MISHX has been stable across timeframes, ranging from 0.65 to 0.71 - a consistent structural relationship.
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Return for Risk
NVHIX vs. MISHX — Risk / Return Rank
NVHIX
MISHX
NVHIX vs. MISHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Short Duration High Yield Municipal Bond Fund (NVHIX) and AB Municipal Income Shares (MISHX). 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.
| NVHIX | MISHX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +1.25 | ||
| Omega ratioGain probability vs. loss probability | 1.77 | 1.53 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 3.05 | 2.32 | +0.73 |
| Martin ratioReturn relative to average drawdown | 9.76 | 8.05 | +1.72 |
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Drawdowns
NVHIX vs. MISHX - Drawdown Comparison
The maximum NVHIX drawdown since its inception was -13.54%, smaller than the maximum MISHX drawdown of -19.03%. Use the drawdown chart below to compare losses from any high point for NVHIX and MISHX.
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Drawdown Indicators
| NVHIX | MISHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.54% | -19.03% | +5.49% |
Max Drawdown (1Y)Largest decline over 1 year | -1.79% | -3.09% | +1.30% |
Max Drawdown (3Y)Largest decline over 3 years | -4.72% | -6.94% | +2.22% |
Max Drawdown (5Y)Largest decline over 5 years | -10.54% | -18.20% | +7.66% |
Max Drawdown (10Y)Largest decline over 10 years | -13.54% | -19.03% | +5.49% |
Current DrawdownCurrent decline from peak | -1.06% | -2.14% | +1.08% |
Average DrawdownAverage peak-to-trough decline | -2.02% | -3.38% | +1.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | 0.89% | -0.33% |
Volatility
NVHIX vs. MISHX - Volatility Comparison
The current volatility for Nuveen Short Duration High Yield Municipal Bond Fund (NVHIX) is 0.59%, while AB Municipal Income Shares (MISHX) has a volatility of 1.01%. This indicates that NVHIX experiences smaller price fluctuations and is considered to be less risky than MISHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NVHIX | MISHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.59% | 1.01% | -0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 1.61% | 2.68% | -1.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.17% | 3.32% | -1.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.34% | 5.02% | -1.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.48% | 5.19% | -1.71% |
NVHIX vs. MISHX - Expense Ratio Comparison
NVHIX has a 0.55% expense ratio, which is higher than MISHX's 0.00% expense ratio.
Dividends
NVHIX vs. MISHX - Dividend Comparison
NVHIX's dividend yield for the trailing twelve months is around 4.09%, less than MISHX's 4.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MISHX AB Municipal Income Shares | 4.51% | 6.23% | 4.80% | 3.23% | 3.75% | 2.77% | 3.56% | 3.98% | 3.77% | 3.78% | 4.25% | 4.38% |
NVHIX Nuveen Short Duration High Yield Municipal Bond Fund | 4.09% | 5.15% | 4.36% | 4.41% | 3.84% | 3.43% | 3.90% | 4.03% | 3.90% | 3.78% | 3.62% | 3.55% |
Frequently Asked Questions
NVHIX and MISHX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MISHX has higher volatility (1.01%) compared to NVHIX (0.59%). In terms of maximum drawdown, NVHIX dropped -13.54% vs MISHX's -19.03%.
NVHIX currently has the higher Sharpe Ratio (2.52 vs 2.16), 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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