NZF vs. DFSMX
Compare and contrast key facts about Nuveen Municipal Credit Income Fund (NZF) and DFA Short Term Municipal Bond Portfolio (DFSMX).
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. DFSMX is managed by Dimensional. It was launched on Aug 19, 2002.
Performance
NZF vs. DFSMX - Performance Comparison
Loading graphics...
NZF vs. DFSMX - 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% |
DFSMX DFA Short Term Municipal Bond Portfolio | 0.55% | 2.30% | 2.84% | 2.98% | -0.36% | -0.11% | 0.83% | 1.62% | 1.22% | 1.15% |
Returns By Period
In the year-to-date period, NZF achieves a -1.35% return, which is significantly lower than DFSMX's 0.55% return. Over the past 10 years, NZF has outperformed DFSMX with an annualized return of 3.66%, while DFSMX has yielded a comparatively lower 1.23% 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%
DFSMX
- 1D
- 0.04%
- 1M
- -0.05%
- YTD
- 0.55%
- 6M
- 1.10%
- 1Y
- 2.45%
- 3Y*
- 2.60%
- 5Y*
- 1.63%
- 10Y*
- 1.23%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
NZF vs. DFSMX - Expense Ratio Comparison
NZF has a 1.89% expense ratio, which is higher than DFSMX's 0.20% expense ratio.
Return for Risk
NZF vs. DFSMX — Risk / Return Rank
NZF
DFSMX
NZF vs. DFSMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Municipal Credit Income Fund (NZF) and DFA Short Term Municipal Bond Portfolio (DFSMX). 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 | DFSMX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.66 | 3.68 | -3.02 |
Sortino ratioReturn per unit of downside risk | 1.01 | 6.50 | -5.49 |
Omega ratioGain probability vs. loss probability | 1.13 | 3.20 | -2.06 |
Calmar ratioReturn relative to maximum drawdown | 1.09 | 4.59 | -3.51 |
Martin ratioReturn relative to average drawdown | 3.61 | 21.83 | -18.22 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| NZF | DFSMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.66 | 3.68 | -3.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.01 | 2.11 | -2.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 1.60 | -1.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 1.78 | -1.42 |
Correlation
The correlation between NZF and DFSMX is 0.15, 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. DFSMX - Dividend Comparison
NZF's dividend yield for the trailing twelve months is around 7.83%, more than DFSMX's 2.43% 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% |
DFSMX DFA Short Term Municipal Bond Portfolio | 2.43% | 2.08% | 2.80% | 1.94% | 0.63% | 0.19% | 0.83% | 1.22% | 1.11% | 0.95% | 0.94% | 0.95% |
Drawdowns
NZF vs. DFSMX - Drawdown Comparison
The maximum NZF drawdown since its inception was -48.55%, which is greater than DFSMX's maximum drawdown of -2.66%. Use the drawdown chart below to compare losses from any high point for NZF and DFSMX.
Loading graphics...
Drawdown Indicators
| NZF | DFSMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.55% | -2.66% | -45.89% |
Max Drawdown (1Y)Largest decline over 1 year | -8.18% | -0.39% | -7.79% |
Max Drawdown (5Y)Largest decline over 5 years | -37.42% | -1.67% | -35.75% |
Max Drawdown (10Y)Largest decline over 10 years | -37.42% | -1.69% | -35.73% |
Current DrawdownCurrent decline from peak | -8.18% | -0.06% | -8.12% |
Average DrawdownAverage peak-to-trough decline | -7.79% | -0.24% | -7.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.46% | 0.10% | +2.36% |
Volatility
NZF vs. DFSMX - Volatility Comparison
Nuveen Municipal Credit Income Fund (NZF) has a higher volatility of 4.70% compared to DFA Short Term Municipal Bond Portfolio (DFSMX) at 0.11%. This indicates that NZF's price experiences larger fluctuations and is considered to be riskier than DFSMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| NZF | DFSMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.70% | 0.11% | +4.59% |
Volatility (6M)Calculated over the trailing 6-month period | 7.66% | 0.37% | +7.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.63% | 0.68% | +10.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.22% | 0.78% | +11.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.02% | 0.77% | +12.25% |