NZF vs. PDI
Compare and contrast key facts about Nuveen Municipal Credit Income Fund (NZF) and PIMCO Dynamic Income Fund (PDI).
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. PDI - Performance Comparison
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NZF vs. PDI - 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% |
PDI PIMCO Dynamic Income Fund | 0.17% | 11.03% | 17.18% | 11.99% | -16.99% | 7.81% | -9.96% | 22.23% | 7.35% | 18.59% |
Returns By Period
In the year-to-date period, NZF achieves a -1.35% return, which is significantly lower than PDI's 0.17% return. Over the past 10 years, NZF has underperformed PDI with an annualized return of 3.66%, while PDI has yielded a comparatively higher 8.14% 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%
PDI
- 1D
- 3.13%
- 1M
- -3.71%
- YTD
- 0.17%
- 6M
- -7.15%
- 1Y
- -0.44%
- 3Y*
- 13.14%
- 5Y*
- 3.57%
- 10Y*
- 8.14%
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Return for Risk
NZF vs. PDI — Risk / Return Rank
NZF
PDI
NZF vs. PDI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Municipal Credit Income Fund (NZF) and PIMCO Dynamic Income Fund (PDI). 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 | PDI | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.66 | -0.02 | +0.69 |
Sortino ratioReturn per unit of downside risk | 1.01 | 0.09 | +0.92 |
Omega ratioGain probability vs. loss probability | 1.13 | 1.02 | +0.12 |
Calmar ratioReturn relative to maximum drawdown | 1.09 | -0.01 | +1.09 |
Martin ratioReturn relative to average drawdown | 3.61 | -0.03 | +3.63 |
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 | PDI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.66 | -0.02 | +0.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.01 | 0.23 | -0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 0.43 | -0.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.59 | -0.23 |
Correlation
The correlation between NZF and PDI is 0.25, 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. PDI - Dividend Comparison
NZF's dividend yield for the trailing twelve months is around 7.83%, less than PDI's 15.46% 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% |
PDI PIMCO Dynamic Income Fund | 15.46% | 14.94% | 14.43% | 14.74% | 17.84% | 10.21% | 10.01% | 9.45% | 10.78% | 8.81% | 14.79% | 18.70% |
Drawdowns
NZF vs. PDI - Drawdown Comparison
The maximum NZF drawdown since its inception was -48.55%, roughly equal to the maximum PDI drawdown of -46.47%. Use the drawdown chart below to compare losses from any high point for NZF and PDI.
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Drawdown Indicators
| NZF | PDI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.55% | -46.47% | -2.08% |
Max Drawdown (1Y)Largest decline over 1 year | -8.18% | -14.34% | +6.16% |
Max Drawdown (5Y)Largest decline over 5 years | -37.42% | -27.23% | -10.19% |
Max Drawdown (10Y)Largest decline over 10 years | -37.42% | -46.47% | +9.05% |
Current DrawdownCurrent decline from peak | -8.18% | -7.66% | -0.52% |
Average DrawdownAverage peak-to-trough decline | -7.79% | -6.22% | -1.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.46% | 5.03% | -2.57% |
Volatility
NZF vs. PDI - Volatility Comparison
The current volatility for Nuveen Municipal Credit Income Fund (NZF) is 4.70%, while PIMCO Dynamic Income Fund (PDI) has a volatility of 5.71%. This indicates that NZF experiences smaller price fluctuations and is considered to be less risky than PDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NZF | PDI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.70% | 5.71% | -1.01% |
Volatility (6M)Calculated over the trailing 6-month period | 7.66% | 9.96% | -2.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.63% | 18.36% | -6.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.22% | 15.66% | -3.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.02% | 19.06% | -6.04% |