NZF vs. ELFTX
Compare and contrast key facts about Nuveen Municipal Credit Income Fund (NZF) and Elfun Tax Exempt Income Fund (ELFTX).
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. ELFTX is managed by State Street. It was launched on Jan 1, 1980.
Performance
NZF vs. ELFTX - Performance Comparison
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NZF vs. ELFTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NZF Nuveen Municipal Credit Income Fund | 0.35% | 11.78% | 10.09% | 2.49% | -25.53% | 11.19% | 3.58% | 28.33% | -6.79% | 14.48% |
ELFTX Elfun Tax Exempt Income Fund | -0.57% | 3.29% | -0.14% | 4.27% | -8.97% | 0.87% | 4.50% | 7.13% | 0.91% | 4.72% |
Returns By Period
In the year-to-date period, NZF achieves a 0.35% return, which is significantly higher than ELFTX's -0.57% return. Over the past 10 years, NZF has outperformed ELFTX with an annualized return of 3.84%, while ELFTX has yielded a comparatively lower 1.40% annualized 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%
ELFTX
- 1D
- 0.20%
- 1M
- -2.20%
- YTD
- -0.57%
- 6M
- 1.05%
- 1Y
- 3.14%
- 3Y*
- 1.47%
- 5Y*
- -0.19%
- 10Y*
- 1.40%
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NZF vs. ELFTX - Expense Ratio Comparison
NZF has a 1.89% expense ratio, which is higher than ELFTX's 0.21% expense ratio.
Return for Risk
NZF vs. ELFTX — Risk / Return Rank
NZF
ELFTX
NZF vs. ELFTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Municipal Credit Income Fund (NZF) and Elfun Tax Exempt Income Fund (ELFTX). 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 | ELFTX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.73 | 0.71 | +0.02 |
Sortino ratioReturn per unit of downside risk | 1.10 | 0.96 | +0.14 |
Omega ratioGain probability vs. loss probability | 1.15 | 1.20 | -0.05 |
Calmar ratioReturn relative to maximum drawdown | 1.16 | 0.81 | +0.35 |
Martin ratioReturn relative to average drawdown | 3.83 | 2.44 | +1.39 |
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 | ELFTX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.73 | 0.71 | +0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | -0.05 | +0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.30 | 0.36 | -0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.71 | -0.34 |
Correlation
The correlation between NZF and ELFTX is 0.32, 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. ELFTX - Dividend Comparison
NZF's dividend yield for the trailing twelve months is around 7.70%, more than ELFTX's 3.70% 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% |
ELFTX Elfun Tax Exempt Income Fund | 3.70% | 3.99% | 2.66% | 2.88% | 3.09% | 2.61% | 3.24% | 3.78% | 4.09% | 4.00% | 4.00% | 3.82% |
Drawdowns
NZF vs. ELFTX - Drawdown Comparison
The maximum NZF drawdown since its inception was -48.55%, which is greater than ELFTX's maximum drawdown of -19.15%. Use the drawdown chart below to compare losses from any high point for NZF and ELFTX.
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Drawdown Indicators
| NZF | ELFTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.55% | -19.15% | -29.40% |
Max Drawdown (1Y)Largest decline over 1 year | -8.11% | -5.23% | -2.88% |
Max Drawdown (5Y)Largest decline over 5 years | -37.42% | -13.59% | -23.83% |
Max Drawdown (10Y)Largest decline over 10 years | -37.42% | -13.59% | -23.83% |
Current DrawdownCurrent decline from peak | -6.60% | -3.24% | -3.36% |
Average DrawdownAverage peak-to-trough decline | -7.79% | -3.42% | -4.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.47% | 1.74% | +0.73% |
Volatility
NZF vs. ELFTX - Volatility Comparison
Nuveen Municipal Credit Income Fund (NZF) has a higher volatility of 5.07% compared to Elfun Tax Exempt Income Fund (ELFTX) at 1.09%. This indicates that NZF's price experiences larger fluctuations and is considered to be riskier than ELFTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NZF | ELFTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.07% | 1.09% | +3.98% |
Volatility (6M)Calculated over the trailing 6-month period | 7.71% | 1.66% | +6.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.70% | 5.11% | +6.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.24% | 3.86% | +8.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.03% | 3.84% | +9.19% |