NZF vs. NMTRX
Compare and contrast key facts about Nuveen Municipal Credit Income Fund (NZF) and Nuveen Municipal Total Return Managed Accounts (NMTRX).
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. NMTRX is managed by BlackRock. It was launched on May 30, 2007.
Performance
NZF vs. NMTRX - Performance Comparison
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NZF vs. NMTRX - 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% |
NMTRX Nuveen Municipal Total Return Managed Accounts | -0.12% | 3.90% | 1.99% | 6.21% | -11.98% | 2.69% | 5.25% | 9.26% | 1.06% | 7.41% |
Returns By Period
In the year-to-date period, NZF achieves a 0.35% return, which is significantly higher than NMTRX's -0.12% return. Over the past 10 years, NZF has outperformed NMTRX with an annualized return of 3.84%, while NMTRX has yielded a comparatively lower 2.27% annualized return.
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%
NMTRX
- 1D
- 0.20%
- 1M
- -1.97%
- YTD
- -0.12%
- 6M
- 1.65%
- 1Y
- 3.78%
- 3Y*
- 3.22%
- 5Y*
- 0.38%
- 10Y*
- 2.27%
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NZF vs. NMTRX - Expense Ratio Comparison
NZF has a 1.89% expense ratio, which is higher than NMTRX's 0.05% expense ratio.
Return for Risk
NZF vs. NMTRX — Risk / Return Rank
NZF
NMTRX
NZF vs. NMTRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Municipal Credit Income Fund (NZF) and Nuveen Municipal Total Return Managed Accounts (NMTRX). 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 | NMTRX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.73 | 0.84 | -0.11 |
Sortino ratioReturn per unit of downside risk | 1.10 | 1.16 | -0.06 |
Omega ratioGain probability vs. loss probability | 1.15 | 1.23 | -0.08 |
Calmar ratioReturn relative to maximum drawdown | 1.16 | 0.99 | +0.17 |
Martin ratioReturn relative to average drawdown | 3.83 | 2.89 | +0.94 |
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 | NMTRX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.73 | 0.84 | -0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | 0.10 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.30 | 0.52 | -0.22 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.97 | -0.60 |
Correlation
The correlation between NZF and NMTRX is 0.33, 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. NMTRX - Dividend Comparison
NZF's dividend yield for the trailing twelve months is around 7.70%, more than NMTRX's 4.19% 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% |
NMTRX Nuveen Municipal Total Return Managed Accounts | 4.19% | 4.46% | 3.55% | 3.67% | 3.28% | 2.73% | 2.92% | 3.20% | 3.47% | 3.28% | 3.71% | 3.91% |
Drawdowns
NZF vs. NMTRX - Drawdown Comparison
The maximum NZF drawdown since its inception was -48.55%, which is greater than NMTRX's maximum drawdown of -16.36%. Use the drawdown chart below to compare losses from any high point for NZF and NMTRX.
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Drawdown Indicators
| NZF | NMTRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.55% | -16.36% | -32.19% |
Max Drawdown (1Y)Largest decline over 1 year | -8.11% | -4.75% | -3.36% |
Max Drawdown (5Y)Largest decline over 5 years | -37.42% | -16.36% | -21.06% |
Max Drawdown (10Y)Largest decline over 10 years | -37.42% | -16.36% | -21.06% |
Current DrawdownCurrent decline from peak | -6.60% | -2.25% | -4.35% |
Average DrawdownAverage peak-to-trough decline | -7.79% | -2.93% | -4.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.47% | 1.62% | +0.85% |
Volatility
NZF vs. NMTRX - Volatility Comparison
Nuveen Municipal Credit Income Fund (NZF) has a higher volatility of 5.07% compared to Nuveen Municipal Total Return Managed Accounts (NMTRX) at 1.07%. This indicates that NZF's price experiences larger fluctuations and is considered to be riskier than NMTRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NZF | NMTRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.07% | 1.07% | +4.00% |
Volatility (6M)Calculated over the trailing 6-month period | 7.71% | 1.82% | +5.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.70% | 4.93% | +6.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.24% | 3.97% | +8.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.03% | 4.38% | +8.65% |