NZF vs. NELIX
Compare and contrast key facts about Nuveen Municipal Credit Income Fund (NZF) and Nuveen Equity Long/Short Fund (NELIX).
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. NELIX is managed by Nuveen. It was launched on Dec 29, 2008.
Performance
NZF vs. NELIX - Performance Comparison
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NZF vs. NELIX - 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% |
NELIX Nuveen Equity Long/Short Fund | -4.35% | 11.31% | 20.55% | 24.09% | -14.94% | 32.92% | -0.79% | 6.35% | -2.36% | 19.32% |
Returns By Period
In the year-to-date period, NZF achieves a -1.35% return, which is significantly higher than NELIX's -4.35% return. Over the past 10 years, NZF has underperformed NELIX with an annualized return of 3.66%, while NELIX has yielded a comparatively higher 9.10% 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%
NELIX
- 1D
- -0.29%
- 1M
- -4.44%
- YTD
- -4.35%
- 6M
- -3.17%
- 1Y
- 11.79%
- 3Y*
- 15.32%
- 5Y*
- 9.56%
- 10Y*
- 9.10%
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NZF vs. NELIX - Expense Ratio Comparison
NZF has a 1.89% expense ratio, which is higher than NELIX's 1.35% expense ratio.
Return for Risk
NZF vs. NELIX — Risk / Return Rank
NZF
NELIX
NZF vs. NELIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Municipal Credit Income Fund (NZF) and Nuveen Equity Long/Short Fund (NELIX). 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 | NELIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.66 | 0.92 | -0.25 |
Sortino ratioReturn per unit of downside risk | 1.01 | 1.34 | -0.34 |
Omega ratioGain probability vs. loss probability | 1.13 | 1.20 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | 1.09 | 1.11 | -0.02 |
Martin ratioReturn relative to average drawdown | 3.61 | 4.90 | -1.29 |
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 | NELIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.66 | 0.92 | -0.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.01 | 0.76 | -0.74 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 0.67 | -0.38 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.67 | -0.30 |
Correlation
The correlation between NZF and NELIX is 0.11, 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. NELIX - Dividend Comparison
NZF's dividend yield for the trailing twelve months is around 7.83%, more than NELIX's 3.98% 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% |
NELIX Nuveen Equity Long/Short Fund | 3.98% | 3.81% | 4.78% | 4.20% | 6.84% | 2.44% | 0.00% | 0.00% | 1.35% | 1.58% | 0.00% | 0.00% |
Drawdowns
NZF vs. NELIX - Drawdown Comparison
The maximum NZF drawdown since its inception was -48.55%, which is greater than NELIX's maximum drawdown of -28.72%. Use the drawdown chart below to compare losses from any high point for NZF and NELIX.
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Drawdown Indicators
| NZF | NELIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.55% | -28.72% | -19.83% |
Max Drawdown (1Y)Largest decline over 1 year | -8.18% | -8.92% | +0.74% |
Max Drawdown (5Y)Largest decline over 5 years | -37.42% | -19.30% | -18.12% |
Max Drawdown (10Y)Largest decline over 10 years | -37.42% | -28.72% | -8.70% |
Current DrawdownCurrent decline from peak | -8.18% | -6.31% | -1.87% |
Average DrawdownAverage peak-to-trough decline | -7.79% | -4.75% | -3.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.46% | 2.03% | +0.43% |
Volatility
NZF vs. NELIX - Volatility Comparison
Nuveen Municipal Credit Income Fund (NZF) has a higher volatility of 4.70% compared to Nuveen Equity Long/Short Fund (NELIX) at 3.34%. This indicates that NZF's price experiences larger fluctuations and is considered to be riskier than NELIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NZF | NELIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.70% | 3.34% | +1.36% |
Volatility (6M)Calculated over the trailing 6-month period | 7.66% | 7.26% | +0.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.63% | 13.50% | -1.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.22% | 12.67% | -0.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.02% | 13.71% | -0.69% |