NZF vs. MFM
Compare and contrast key facts about Nuveen Municipal Credit Income Fund (NZF) and MFS Municipal Income Trust (MFM).
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.
Performance
NZF vs. MFM - Performance Comparison
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NZF vs. MFM - 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% |
MFM MFS Municipal Income Trust | 0.58% | 6.95% | 8.35% | 4.11% | -22.63% | 9.45% | -0.87% | 20.83% | -5.56% | 9.45% |
Returns By Period
In the year-to-date period, NZF achieves a -1.35% return, which is significantly lower than MFM's 0.58% return. Over the past 10 years, NZF has outperformed MFM with an annualized return of 3.66%, while MFM has yielded a comparatively lower 2.01% 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%
MFM
- 1D
- 3.26%
- 1M
- -3.15%
- YTD
- 0.58%
- 6M
- 2.68%
- 1Y
- 7.30%
- 3Y*
- 5.22%
- 5Y*
- -0.19%
- 10Y*
- 2.01%
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Return for Risk
NZF vs. MFM — Risk / Return Rank
NZF
MFM
NZF vs. MFM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Municipal Credit Income Fund (NZF) and MFS Municipal Income Trust (MFM). 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 | MFM | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.66 | 0.65 | +0.02 |
Sortino ratioReturn per unit of downside risk | 1.01 | 0.98 | +0.02 |
Omega ratioGain probability vs. loss probability | 1.13 | 1.13 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 1.09 | 1.00 | +0.08 |
Martin ratioReturn relative to average drawdown | 3.61 | 2.72 | +0.89 |
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 | MFM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.66 | 0.65 | +0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.01 | -0.01 | +0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 0.14 | +0.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.21 | +0.16 |
Correlation
The correlation between NZF and MFM is 0.40, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
NZF vs. MFM - Dividend Comparison
NZF's dividend yield for the trailing twelve months is around 7.83%, more than MFM's 5.26% 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% |
MFM MFS Municipal Income Trust | 5.26% | 5.08% | 4.65% | 4.12% | 4.85% | 4.34% | 4.70% | 4.71% | 5.91% | 5.61% | 5.72% | 5.76% |
Drawdowns
NZF vs. MFM - Drawdown Comparison
The maximum NZF drawdown since its inception was -48.55%, smaller than the maximum MFM drawdown of -54.24%. Use the drawdown chart below to compare losses from any high point for NZF and MFM.
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Drawdown Indicators
| NZF | MFM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.55% | -54.24% | +5.69% |
Max Drawdown (1Y)Largest decline over 1 year | -8.18% | -7.26% | -0.92% |
Max Drawdown (5Y)Largest decline over 5 years | -37.42% | -34.39% | -3.03% |
Max Drawdown (10Y)Largest decline over 10 years | -37.42% | -34.39% | -3.03% |
Current DrawdownCurrent decline from peak | -8.18% | -9.50% | +1.32% |
Average DrawdownAverage peak-to-trough decline | -7.79% | -8.95% | +1.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.46% | 2.68% | -0.22% |
Volatility
NZF vs. MFM - Volatility Comparison
Nuveen Municipal Credit Income Fund (NZF) and MFS Municipal Income Trust (MFM) have volatilities of 4.70% and 4.49%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NZF | MFM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.70% | 4.49% | +0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 7.66% | 7.85% | -0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.63% | 11.34% | +0.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.22% | 14.08% | -1.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.02% | 14.84% | -1.82% |