NZF vs. NHMRX
Compare and contrast key facts about Nuveen Municipal Credit Income Fund (NZF) and Nuveen High Yield Municipal Bond Fund (NHMRX).
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. NHMRX is managed by Nuveen. It was launched on Jun 6, 1999.
Performance
NZF vs. NHMRX - Performance Comparison
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NZF vs. NHMRX - 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% |
NHMRX Nuveen High Yield Municipal Bond Fund | 0.08% | 3.24% | 5.62% | 7.31% | -14.96% | 10.37% | 3.25% | 12.59% | 2.06% | 12.10% |
Returns By Period
In the year-to-date period, NZF achieves a 0.35% return, which is significantly higher than NHMRX's 0.08% return. Both investments have delivered pretty close results over the past 10 years, with NZF having a 3.84% annualized return and NHMRX not far behind at 3.73%.
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%
NHMRX
- 1D
- 0.84%
- 1M
- -2.02%
- YTD
- 0.08%
- 6M
- 1.84%
- 1Y
- 2.82%
- 3Y*
- 4.31%
- 5Y*
- 1.37%
- 10Y*
- 3.73%
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NZF vs. NHMRX - Expense Ratio Comparison
NZF has a 1.89% expense ratio, which is higher than NHMRX's 0.52% expense ratio.
Return for Risk
NZF vs. NHMRX — Risk / Return Rank
NZF
NHMRX
NZF vs. NHMRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Municipal Credit Income Fund (NZF) and Nuveen High Yield Municipal Bond Fund (NHMRX). 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 | NHMRX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.73 | 0.43 | +0.30 |
Sortino ratioReturn per unit of downside risk | 1.10 | 0.61 | +0.49 |
Omega ratioGain probability vs. loss probability | 1.15 | 1.12 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 1.16 | 0.60 | +0.56 |
Martin ratioReturn relative to average drawdown | 3.83 | 1.44 | +2.39 |
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 | NHMRX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.73 | 0.43 | +0.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | 0.20 | -0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.30 | 0.56 | -0.26 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.88 | -0.51 |
Correlation
The correlation between NZF and NHMRX is 0.30, 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. NHMRX - Dividend Comparison
NZF's dividend yield for the trailing twelve months is around 7.70%, more than NHMRX's 6.20% 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% |
NHMRX Nuveen High Yield Municipal Bond Fund | 6.20% | 6.54% | 5.79% | 7.34% | 5.64% | 5.09% | 5.03% | 5.39% | 5.47% | 5.38% | 5.88% | 5.60% |
Drawdowns
NZF vs. NHMRX - Drawdown Comparison
The maximum NZF drawdown since its inception was -48.55%, which is greater than NHMRX's maximum drawdown of -45.45%. Use the drawdown chart below to compare losses from any high point for NZF and NHMRX.
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Drawdown Indicators
| NZF | NHMRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.55% | -45.45% | -3.10% |
Max Drawdown (1Y)Largest decline over 1 year | -8.11% | -7.92% | -0.19% |
Max Drawdown (5Y)Largest decline over 5 years | -37.42% | -21.52% | -15.90% |
Max Drawdown (10Y)Largest decline over 10 years | -37.42% | -22.22% | -15.20% |
Current DrawdownCurrent decline from peak | -6.60% | -2.42% | -4.18% |
Average DrawdownAverage peak-to-trough decline | -7.79% | -5.35% | -2.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.47% | 3.28% | -0.81% |
Volatility
NZF vs. NHMRX - Volatility Comparison
Nuveen Municipal Credit Income Fund (NZF) has a higher volatility of 5.07% compared to Nuveen High Yield Municipal Bond Fund (NHMRX) at 1.87%. This indicates that NZF's price experiences larger fluctuations and is considered to be riskier than NHMRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NZF | NHMRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.07% | 1.87% | +3.20% |
Volatility (6M)Calculated over the trailing 6-month period | 7.71% | 2.75% | +4.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.70% | 8.04% | +3.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.24% | 6.81% | +5.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.03% | 6.71% | +6.32% |