NZF vs. NPV
Compare and contrast key facts about Nuveen Municipal Credit Income Fund (NZF) and Nuveen Virginia Quality Municipal Income Fund (NPV).
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. NPV is an actively managed fund by Nuveen. It was launched on Mar 18, 1993.
Performance
NZF vs. NPV - Performance Comparison
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NZF vs. NPV - 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% |
NPV Nuveen Virginia Quality Municipal Income Fund | 4.12% | -5.91% | 24.61% | 0.42% | -31.53% | 10.93% | 13.15% | 29.60% | -4.42% | 3.20% |
Returns By Period
In the year-to-date period, NZF achieves a -1.35% return, which is significantly lower than NPV's 4.12% return. Over the past 10 years, NZF has outperformed NPV with an annualized return of 3.66%, while NPV has yielded a comparatively lower 2.40% 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%
NPV
- 1D
- 1.34%
- 1M
- -2.61%
- YTD
- 4.12%
- 6M
- 1.08%
- 1Y
- 2.00%
- 3Y*
- 5.94%
- 5Y*
- -1.81%
- 10Y*
- 2.40%
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NZF vs. NPV - Expense Ratio Comparison
NZF has a 1.89% expense ratio, which is higher than NPV's 1.51% expense ratio.
Return for Risk
NZF vs. NPV — Risk / Return Rank
NZF
NPV
NZF vs. NPV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Municipal Credit Income Fund (NZF) and Nuveen Virginia Quality Municipal Income Fund (NPV). 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 | NPV | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.66 | 0.22 | +0.44 |
Sortino ratioReturn per unit of downside risk | 1.01 | 0.36 | +0.65 |
Omega ratioGain probability vs. loss probability | 1.13 | 1.05 | +0.09 |
Calmar ratioReturn relative to maximum drawdown | 1.09 | 0.16 | +0.93 |
Martin ratioReturn relative to average drawdown | 3.61 | 0.37 | +3.23 |
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 | NPV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.66 | 0.22 | +0.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.01 | -0.13 | +0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 0.18 | +0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.28 | +0.08 |
Correlation
The correlation between NZF and NPV is 0.31, 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. NPV - Dividend Comparison
NZF's dividend yield for the trailing twelve months is around 7.83%, more than NPV's 7.19% 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% |
NPV Nuveen Virginia Quality Municipal Income Fund | 7.19% | 7.55% | 5.63% | 3.89% | 5.08% | 3.42% | 3.49% | 3.58% | 4.62% | 4.40% | 4.87% | 5.25% |
Drawdowns
NZF vs. NPV - Drawdown Comparison
The maximum NZF drawdown since its inception was -48.55%, which is greater than NPV's maximum drawdown of -44.25%. Use the drawdown chart below to compare losses from any high point for NZF and NPV.
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Drawdown Indicators
| NZF | NPV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.55% | -44.25% | -4.30% |
Max Drawdown (1Y)Largest decline over 1 year | -8.18% | -9.07% | +0.89% |
Max Drawdown (5Y)Largest decline over 5 years | -37.42% | -44.25% | +6.83% |
Max Drawdown (10Y)Largest decline over 10 years | -37.42% | -44.25% | +6.83% |
Current DrawdownCurrent decline from peak | -8.18% | -17.90% | +9.72% |
Average DrawdownAverage peak-to-trough decline | -7.79% | -10.15% | +2.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.46% | 3.77% | -1.31% |
Volatility
NZF vs. NPV - Volatility Comparison
Nuveen Municipal Credit Income Fund (NZF) has a higher volatility of 4.70% compared to Nuveen Virginia Quality Municipal Income Fund (NPV) at 2.43%. This indicates that NZF's price experiences larger fluctuations and is considered to be riskier than NPV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NZF | NPV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.70% | 2.43% | +2.27% |
Volatility (6M)Calculated over the trailing 6-month period | 7.66% | 5.20% | +2.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.63% | 9.05% | +2.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.22% | 13.52% | -1.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.02% | 13.19% | -0.17% |