NZF vs. ENB
NZF (Nuveen Municipal Credit Income Fund) is Municipal Bonds fund tracking the S&P National Municipal Bond Index, while ENB (Enbridge Inc.) is a stock. Over the past 10 years, NZF returned 3.63%/yr vs 9.68%/yr for ENB. At a 0.13 correlation, their price movements are largely independent.
Performance
NZF vs. ENB - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, NZF achieves a 3.68% return, which is significantly lower than ENB's 21.23% return. Over the past 10 years, NZF has underperformed ENB with an annualized return of 3.63%, while ENB has yielded a comparatively higher 9.68% annualized return.
NZF
- 1D
- -0.47%
- 1M
- 1.12%
- YTD
- 3.68%
- 6M
- 3.27%
- 1Y
- 14.21%
- 3Y*
- 10.46%
- 5Y*
- 0.01%
- 10Y*
- 3.63%
ENB
- 1D
- 0.07%
- 1M
- 3.68%
- YTD
- 21.23%
- 6M
- 21.95%
- 1Y
- 27.43%
- 3Y*
- 22.21%
- 5Y*
- 14.42%
- 10Y*
- 9.68%
NZF vs. ENB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NZF Nuveen Municipal Credit Income Fund | 3.68% | 11.78% | 10.09% | 2.49% | -25.53% | 11.19% | 3.58% | 28.33% | -6.79% | 14.48% |
ENB Enbridge Inc. | 21.23% | 19.51% | 26.35% | -1.13% | 6.46% | 30.83% | -13.60% | 36.05% | -15.53% | -2.73% |
Correlation
The correlation between NZF and ENB is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2001 | 0.13 |
The correlation between NZF and ENB shifts across timeframes, from 0.01 (1 year) to 0.20 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
NZF vs. ENB — Risk / Return Rank
NZF
ENB
NZF vs. ENB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Municipal Credit Income Fund (NZF) and Enbridge Inc. (ENB). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| NZF | ENB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.30 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | 3.03 | -1.27 |
| Martin ratioReturn relative to average drawdown | 7.22 | 7.64 | -0.43 |
Loading charts...
Drawdowns
NZF vs. ENB - Drawdown Comparison
The maximum NZF drawdown since its inception was -48.55%, roughly equal to the maximum ENB drawdown of -46.35%. Use the drawdown chart below to compare losses from any high point for NZF and ENB.
Loading charts...
Drawdown Indicators
| NZF | ENB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.55% | -46.35% | -2.20% |
Max Drawdown (1Y)Largest decline over 1 year | -8.11% | -9.10% | +0.99% |
Max Drawdown (3Y)Largest decline over 3 years | -15.59% | -15.29% | -0.30% |
Max Drawdown (5Y)Largest decline over 5 years | -37.42% | -28.32% | -9.10% |
Max Drawdown (10Y)Largest decline over 10 years | -37.42% | -44.07% | +6.65% |
Current DrawdownCurrent decline from peak | -3.50% | -2.65% | -0.85% |
Average DrawdownAverage peak-to-trough decline | -7.77% | -10.83% | +3.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 3.64% | -1.67% |
Volatility
NZF vs. ENB - Volatility Comparison
The current volatility for Nuveen Municipal Credit Income Fund (NZF) is 3.61%, while Enbridge Inc. (ENB) has a volatility of 5.99%. This indicates that NZF experiences smaller price fluctuations and is considered to be less risky than ENB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| NZF | ENB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.61% | 5.99% | -2.38% |
Volatility (6M)Calculated over the trailing 6-month period | 8.30% | 12.96% | -4.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.47% | 16.21% | -5.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.39% | 18.65% | -6.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.11% | 24.33% | -11.22% |
Dividends
NZF vs. ENB - Dividend Comparison
NZF's dividend yield for the trailing twelve months is around 7.55%, more than ENB's 4.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ENB Enbridge Inc. | 4.91% | 5.66% | 6.28% | 7.31% | 6.80% | 6.85% | 7.55% | 5.58% | 6.68% | 4.71% | 4.13% | 4.71% |
NZF Nuveen Municipal Credit Income Fund | 7.55% | 7.58% | 6.84% | 4.51% | 5.80% | 4.63% | 4.74% | 4.82% | 6.05% | 5.86% | 6.26% | 5.50% |
Frequently Asked Questions
NZF and ENB have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ENB has higher volatility (5.99%) compared to NZF (3.61%). In terms of maximum drawdown, NZF dropped -48.55% vs ENB's -46.35%.
ENB currently has the higher Sharpe Ratio (1.71 vs 1.36), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for NZF and ENB
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer