NZF vs. DMREX
Compare and contrast key facts about Nuveen Municipal Credit Income Fund (NZF) and DFA Municipal Real Return Portfolio (DMREX).
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. DMREX is managed by Dimensional. It was launched on Nov 3, 2014.
Performance
NZF vs. DMREX - Performance Comparison
Loading graphics...
NZF vs. DMREX - 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% |
DMREX DFA Municipal Real Return Portfolio | 1.10% | 2.77% | 3.10% | 2.56% | -1.42% | 6.75% | 4.11% | 6.64% | -0.51% | 2.57% |
Returns By Period
In the year-to-date period, NZF achieves a -1.35% return, which is significantly lower than DMREX's 1.10% return. Over the past 10 years, NZF has outperformed DMREX with an annualized return of 3.66%, while DMREX has yielded a comparatively lower 2.77% 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%
DMREX
- 1D
- -0.04%
- 1M
- 0.42%
- YTD
- 1.10%
- 6M
- 1.08%
- 1Y
- 2.58%
- 3Y*
- 2.54%
- 5Y*
- 2.70%
- 10Y*
- 2.77%
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. DMREX - Expense Ratio Comparison
NZF has a 1.89% expense ratio, which is higher than DMREX's 0.24% expense ratio.
Return for Risk
NZF vs. DMREX — Risk / Return Rank
NZF
DMREX
NZF vs. DMREX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Municipal Credit Income Fund (NZF) and DFA Municipal Real Return Portfolio (DMREX). 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 | DMREX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.66 | 2.31 | -1.65 |
Sortino ratioReturn per unit of downside risk | 1.01 | 3.35 | -2.34 |
Omega ratioGain probability vs. loss probability | 1.13 | 1.62 | -0.49 |
Calmar ratioReturn relative to maximum drawdown | 1.09 | 2.90 | -1.82 |
Martin ratioReturn relative to average drawdown | 3.61 | 9.38 | -5.77 |
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 | DMREX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.66 | 2.31 | -1.65 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.01 | 1.10 | -1.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 0.88 | -0.60 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.86 | -0.49 |
Correlation
The correlation between NZF and DMREX is 0.17, 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. DMREX - Dividend Comparison
NZF's dividend yield for the trailing twelve months is around 7.83%, more than DMREX's 3.30% 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% |
DMREX DFA Municipal Real Return Portfolio | 3.30% | 2.95% | 3.55% | 1.96% | 1.16% | 0.98% | 1.44% | 2.26% | 1.54% | 1.32% | 1.15% | 1.09% |
Drawdowns
NZF vs. DMREX - Drawdown Comparison
The maximum NZF drawdown since its inception was -48.55%, which is greater than DMREX's maximum drawdown of -13.22%. Use the drawdown chart below to compare losses from any high point for NZF and DMREX.
Loading graphics...
Drawdown Indicators
| NZF | DMREX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.55% | -13.22% | -35.33% |
Max Drawdown (1Y)Largest decline over 1 year | -8.18% | -0.92% | -7.26% |
Max Drawdown (5Y)Largest decline over 5 years | -37.42% | -5.33% | -32.09% |
Max Drawdown (10Y)Largest decline over 10 years | -37.42% | -13.22% | -24.20% |
Current DrawdownCurrent decline from peak | -8.18% | -0.32% | -7.86% |
Average DrawdownAverage peak-to-trough decline | -7.79% | -0.89% | -6.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.46% | 0.29% | +2.17% |
Volatility
NZF vs. DMREX - Volatility Comparison
Nuveen Municipal Credit Income Fund (NZF) has a higher volatility of 4.70% compared to DFA Municipal Real Return Portfolio (DMREX) at 0.49%. This indicates that NZF's price experiences larger fluctuations and is considered to be riskier than DMREX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| NZF | DMREX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.70% | 0.49% | +4.21% |
Volatility (6M)Calculated over the trailing 6-month period | 7.66% | 0.71% | +6.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.63% | 1.17% | +10.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.22% | 2.47% | +9.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.02% | 3.14% | +9.88% |