NZF vs. BMN
Compare and contrast key facts about Nuveen Municipal Credit Income Fund (NZF) and Blackrock 2037 Municipal Target Term Trust (BMN).
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. BMN is an actively managed fund by BlackRock. It was launched on Oct 28, 2022.
Performance
NZF vs. BMN - Performance Comparison
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NZF vs. BMN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
NZF Nuveen Municipal Credit Income Fund | 0.35% | 11.78% | 10.09% | 2.49% | 13.45% |
BMN Blackrock 2037 Municipal Target Term Trust | 1.11% | 7.05% | 12.65% | 1.89% | -2.55% |
Returns By Period
In the year-to-date period, NZF achieves a 0.35% return, which is significantly lower than BMN's 1.11% return.
NZF
- 1D
- 1.72%
- 1M
- -3.87%
- YTD
- 0.35%
- 6M
- 1.46%
- 1Y
- 8.42%
- 3Y*
- 8.17%
- 5Y*
- 0.52%
- 10Y*
- 3.84%
BMN
- 1D
- 0.96%
- 1M
- -4.53%
- YTD
- 1.11%
- 6M
- 6.76%
- 1Y
- 9.12%
- 3Y*
- 6.05%
- 5Y*
- —
- 10Y*
- —
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NZF vs. BMN - Expense Ratio Comparison
NZF has a 1.89% expense ratio, which is higher than BMN's 0.93% expense ratio.
Return for Risk
NZF vs. BMN — Risk / Return Rank
NZF
BMN
NZF vs. BMN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Municipal Credit Income Fund (NZF) and Blackrock 2037 Municipal Target Term Trust (BMN). 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 | BMN | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.73 | 0.75 | -0.03 |
Sortino ratioReturn per unit of downside risk | 1.10 | 1.18 | -0.08 |
Omega ratioGain probability vs. loss probability | 1.15 | 1.15 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 1.16 | 1.36 | -0.20 |
Martin ratioReturn relative to average drawdown | 3.83 | 3.59 | +0.25 |
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 | BMN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.73 | 0.75 | -0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.30 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.55 | -0.18 |
Correlation
The correlation between NZF and BMN is 0.24, 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. BMN - Dividend Comparison
NZF's dividend yield for the trailing twelve months is around 7.70%, more than BMN's 4.30% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NZF Nuveen Municipal Credit Income Fund | 7.70% | 7.58% | 6.84% | 4.51% | 5.80% | 4.63% | 4.74% | 4.82% | 6.05% | 5.86% | 6.26% | 5.50% |
BMN Blackrock 2037 Municipal Target Term Trust | 4.30% | 4.30% | 4.40% | 4.74% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
NZF vs. BMN - Drawdown Comparison
The maximum NZF drawdown since its inception was -48.55%, which is greater than BMN's maximum drawdown of -13.04%. Use the drawdown chart below to compare losses from any high point for NZF and BMN.
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Drawdown Indicators
| NZF | BMN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.55% | -13.04% | -35.51% |
Max Drawdown (1Y)Largest decline over 1 year | -8.11% | -5.92% | -2.19% |
Max Drawdown (5Y)Largest decline over 5 years | -37.42% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -37.42% | — | — |
Current DrawdownCurrent decline from peak | -6.60% | -4.53% | -2.07% |
Average DrawdownAverage peak-to-trough decline | -7.79% | -2.17% | -5.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.47% | 2.24% | +0.23% |
Volatility
NZF vs. BMN - Volatility Comparison
The current volatility for Nuveen Municipal Credit Income Fund (NZF) is 5.07%, while Blackrock 2037 Municipal Target Term Trust (BMN) has a volatility of 5.73%. This indicates that NZF experiences smaller price fluctuations and is considered to be less risky than BMN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NZF | BMN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.07% | 5.73% | -0.66% |
Volatility (6M)Calculated over the trailing 6-month period | 7.71% | 9.49% | -1.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.70% | 12.24% | -0.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.24% | 10.52% | +1.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.03% | 10.52% | +2.51% |