NZF vs. ATOIX
Compare and contrast key facts about Nuveen Municipal Credit Income Fund (NZF) and abrdn Ultra Short Municipal Income Fund (ATOIX).
NZF is a passively managed fund by Nuveen that tracks the performance of the S&P National Municipal Bond Index. It was launched on Mar 21, 2001. ATOIX is managed by Aberdeen. It was launched on Dec 4, 2002.
Performance
NZF vs. ATOIX - Performance Comparison
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NZF vs. ATOIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NZF Nuveen Municipal Credit Income Fund | -1.35% | 11.78% | 10.09% | 2.49% | -25.53% | 11.19% | 3.58% | 28.33% | -6.79% | 14.48% |
ATOIX abrdn Ultra Short Municipal Income Fund | 0.35% | 3.33% | 3.14% | 3.27% | 0.87% | -0.04% | 0.88% | 1.40% | 1.54% | 2.24% |
Returns By Period
In the year-to-date period, NZF achieves a -1.35% return, which is significantly lower than ATOIX's 0.35% return. Over the past 10 years, NZF has outperformed ATOIX with an annualized return of 3.66%, while ATOIX has yielded a comparatively lower 1.73% annualized return.
NZF
- 1D
- 2.61%
- 1M
- -5.35%
- YTD
- -1.35%
- 6M
- 0.69%
- 1Y
- 7.63%
- 3Y*
- 7.56%
- 5Y*
- 0.18%
- 10Y*
- 3.66%
ATOIX
- 1D
- 0.00%
- 1M
- -0.10%
- YTD
- 0.35%
- 6M
- 1.37%
- 1Y
- 2.95%
- 3Y*
- 3.07%
- 5Y*
- 2.17%
- 10Y*
- 1.73%
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NZF vs. ATOIX - Expense Ratio Comparison
NZF has a 1.89% expense ratio, which is higher than ATOIX's 0.44% expense ratio.
Return for Risk
NZF vs. ATOIX — Risk / Return Rank
NZF
ATOIX
NZF vs. ATOIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Municipal Credit Income Fund (NZF) and abrdn Ultra Short Municipal Income Fund (ATOIX). 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.
| NZF | ATOIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.66 | 3.51 | -2.85 |
Sortino ratioReturn per unit of downside risk | 1.01 | 18.38 | -17.37 |
Omega ratioGain probability vs. loss probability | 1.13 | 11.59 | -10.46 |
Calmar ratioReturn relative to maximum drawdown | 1.09 | 32.23 | -31.15 |
Martin ratioReturn relative to average drawdown | 3.61 | 93.42 | -89.81 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NZF | ATOIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.66 | 3.51 | -2.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.01 | 2.69 | -2.68 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 2.24 | -1.95 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 2.45 | -2.09 |
Correlation
The correlation between NZF and ATOIX is 0.10, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
NZF vs. ATOIX - Dividend Comparison
NZF's dividend yield for the trailing twelve months is around 7.83%, more than ATOIX's 2.90% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NZF Nuveen Municipal Credit Income Fund | 7.83% | 7.58% | 6.84% | 4.51% | 5.80% | 4.63% | 4.74% | 4.82% | 6.05% | 5.86% | 6.26% | 5.50% |
ATOIX abrdn Ultra Short Municipal Income Fund | 2.90% | 3.27% | 3.09% | 3.02% | 1.07% | 0.06% | 0.88% | 1.39% | 1.42% | 2.20% | 0.61% | 0.52% |
Drawdowns
NZF vs. ATOIX - Drawdown Comparison
The maximum NZF drawdown since its inception was -48.55%, which is greater than ATOIX's maximum drawdown of -1.46%. Use the drawdown chart below to compare losses from any high point for NZF and ATOIX.
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Drawdown Indicators
| NZF | ATOIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.55% | -1.46% | -47.09% |
Max Drawdown (1Y)Largest decline over 1 year | -8.18% | -0.10% | -8.08% |
Max Drawdown (5Y)Largest decline over 5 years | -37.42% | -0.37% | -37.05% |
Max Drawdown (10Y)Largest decline over 10 years | -37.42% | -0.43% | -36.99% |
Current DrawdownCurrent decline from peak | -8.18% | -0.10% | -8.08% |
Average DrawdownAverage peak-to-trough decline | -7.79% | -0.06% | -7.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.46% | 0.03% | +2.43% |
Volatility
NZF vs. ATOIX - Volatility Comparison
Nuveen Municipal Credit Income Fund (NZF) has a higher volatility of 4.70% compared to abrdn Ultra Short Municipal Income Fund (ATOIX) at 0.10%. This indicates that NZF's price experiences larger fluctuations and is considered to be riskier than ATOIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NZF | ATOIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.70% | 0.10% | +4.60% |
Volatility (6M)Calculated over the trailing 6-month period | 7.66% | 0.65% | +7.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.63% | 0.92% | +10.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.22% | 0.81% | +11.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.02% | 0.78% | +12.24% |