NZF vs. FASEX
NZF (Nuveen Municipal Credit Income Fund) and FASEX (Nuveen Mid Cap Value Fund) are both mutual funds - NZF is a Municipal Bonds fund tracking the S&P National Municipal Bond Index, while FASEX is a Mid Cap Value Equities fund managed by Nuveen. Over the past 10 years, NZF returned 3.16%/yr vs 11.00%/yr for FASEX. Their 0.15 correlation means their historical movements had little consistent relationship. NZF charges 1.89%/yr vs 1.16%/yr for FASEX.
Performance
NZF vs. FASEX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, NZF achieves a 1.35% return, which is significantly lower than FASEX's 19.56% return. Over the past 10 years, NZF has underperformed FASEX with an annualized return of 3.16%, while FASEX has yielded a comparatively higher 11.00% annualized return.
NZF
- 1D
- -0.73%
- 1M
- -2.79%
- 6M
- 1.93%
- YTD
- 1.35%
- 1Y
- 10.90%
- 3Y*
- 8.45%
- 5Y*
- -1.05%
- 10Y*
- 3.16%
- ALL TIME*
- 5.28%
FASEX
- 1D
- 0.70%
- 1M
- -0.26%
- 6M
- 14.33%
- YTD
- 19.56%
- 1Y
- 28.65%
- 3Y*
- 14.01%
- 5Y*
- 9.89%
- 10Y*
- 11.00%
- ALL TIME*
- 9.47%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $6.09M | $6.45M | $6.65M |
NZF vs. FASEX - 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% |
FASEX Nuveen Mid Cap Value Fund | 19.56% | 9.68% | 10.40% | 14.20% | -10.63% | 34.84% | 1.19% | 26.68% | -13.00% | 19.23% |
Correlation
The correlation between NZF and FASEX is 0.35, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.35 |
Correlation (3Y) Balances recent behavior with more history. | 0.34 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.29 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.20 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2001 | 0.15 |
The correlation between NZF and FASEX shifts across timeframes, from 0.15 (all time) to 0.35 (1 year), 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. FASEX — Risk / Return Rank
NZF
FASEX
NZF vs. FASEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Municipal Credit Income Fund (NZF) and Nuveen Mid Cap Value Fund (FASEX). 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 | FASEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.74 | ||
| Sortino ratioReturn per unit of downside risk | -0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.34 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.55 | 3.62 | -2.07 |
| Martin ratioReturn relative to average drawdown | 6.35 | 13.59 | -7.24 |
Loading charts...
Drawdowns
NZF vs. FASEX - Drawdown Comparison
The maximum NZF drawdown since its inception was -48.55%, smaller than the maximum FASEX drawdown of -55.57%. Use the drawdown chart below to compare losses from any high point for NZF and FASEX.
Loading charts...
Drawdown Indicators
| NZF | FASEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.55% | -55.57% | +7.02% |
Max Drawdown (1Y)Largest decline over 1 year | -8.11% | -7.37% | -0.74% |
Max Drawdown (3Y)Largest decline over 3 years | -13.54% | -22.26% | +8.72% |
Max Drawdown (5Y)Largest decline over 5 years | -37.42% | -22.26% | -15.16% |
Max Drawdown (10Y)Largest decline over 10 years | -37.42% | -44.56% | +7.14% |
Current DrawdownCurrent decline from peak | -5.67% | -1.61% | -4.06% |
Average DrawdownAverage peak-to-trough decline | -7.75% | -8.90% | +1.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 1.99% | -0.02% |
Volatility
NZF vs. FASEX - Volatility Comparison
The current volatility for Nuveen Municipal Credit Income Fund (NZF) is 2.12%, while Nuveen Mid Cap Value Fund (FASEX) has a volatility of 3.53%. This indicates that NZF experiences smaller price fluctuations and is considered to be less risky than FASEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| NZF | FASEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.12% | 3.53% | -1.41% |
Volatility (6M)Calculated over the trailing 6-month period | 8.08% | 10.40% | -2.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.58% | 13.88% | -3.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.39% | 17.95% | -5.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.09% | 20.14% | -7.05% |
NZF vs. FASEX - Expense Ratio Comparison
NZF has a 1.89% expense ratio, which is higher than FASEX's 1.16% expense ratio.
Dividends
NZF vs. FASEX - Dividend Comparison
NZF's dividend yield for the trailing twelve months is around 7.82%, less than FASEX's 12.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FASEX Nuveen Mid Cap Value Fund | 12.27% | 14.67% | 5.29% | 3.12% | 6.32% | 4.02% | 1.06% | 0.89% | 4.48% | 7.93% | 3.67% | 3.49% |
NZF Nuveen Municipal Credit Income Fund | 7.82% | 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 FASEX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FASEX has higher volatility (3.53%) compared to NZF (2.12%). In terms of maximum drawdown, NZF dropped -48.55% vs FASEX's -55.57%.
FASEX currently has the higher Sharpe Ratio (1.93 vs 1.19), 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 FASEX
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