NZF vs. TFCYX
Compare and contrast key facts about Nuveen Municipal Credit Income Fund (NZF) and SEI Institutional Managed Trust Tax-Free Conservative Income Fund (TFCYX).
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. TFCYX is managed by BlackRock. It was launched on Apr 21, 2016.
Performance
NZF vs. TFCYX - Performance Comparison
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NZF vs. TFCYX - 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% | 13.99% |
TFCYX SEI Institutional Managed Trust Tax-Free Conservative Income Fund | 0.32% | 2.71% | 3.24% | 2.77% | 0.72% | 0.10% | 0.46% | 1.40% | 1.25% | 0.69% |
Returns By Period
In the year-to-date period, NZF achieves a 0.35% return, which is significantly higher than TFCYX's 0.32% 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%
TFCYX
- 1D
- 0.00%
- 1M
- -0.10%
- YTD
- 0.32%
- 6M
- 0.99%
- 1Y
- 2.34%
- 3Y*
- 2.75%
- 5Y*
- 1.95%
- 10Y*
- —
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NZF vs. TFCYX - Expense Ratio Comparison
NZF has a 1.89% expense ratio, which is higher than TFCYX's 0.13% expense ratio.
Return for Risk
NZF vs. TFCYX — Risk / Return Rank
NZF
TFCYX
NZF vs. TFCYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Municipal Credit Income Fund (NZF) and SEI Institutional Managed Trust Tax-Free Conservative Income Fund (TFCYX). 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 | TFCYX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.73 | 3.02 | -2.30 |
Sortino ratioReturn per unit of downside risk | 1.10 | 8.81 | -7.71 |
Omega ratioGain probability vs. loss probability | 1.15 | 4.32 | -3.18 |
Calmar ratioReturn relative to maximum drawdown | 1.16 | 26.02 | -24.86 |
Martin ratioReturn relative to average drawdown | 3.83 | 68.88 | -65.05 |
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 | TFCYX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.73 | 3.02 | -2.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | 1.61 | -1.57 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.30 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 1.61 | -1.24 |
Correlation
The correlation between NZF and TFCYX is 0.08, 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. TFCYX - Dividend Comparison
NZF's dividend yield for the trailing twelve months is around 7.70%, more than TFCYX's 2.31% 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% |
TFCYX SEI Institutional Managed Trust Tax-Free Conservative Income Fund | 2.31% | 2.68% | 3.19% | 2.63% | 0.72% | 0.00% | 0.46% | 1.39% | 1.24% | 0.68% | 0.00% | 0.00% |
Drawdowns
NZF vs. TFCYX - Drawdown Comparison
The maximum NZF drawdown since its inception was -48.55%, which is greater than TFCYX's maximum drawdown of -1.10%. Use the drawdown chart below to compare losses from any high point for NZF and TFCYX.
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Drawdown Indicators
| NZF | TFCYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.55% | -1.10% | -47.45% |
Max Drawdown (1Y)Largest decline over 1 year | -8.11% | -0.10% | -8.01% |
Max Drawdown (5Y)Largest decline over 5 years | -37.42% | -1.10% | -36.32% |
Max Drawdown (10Y)Largest decline over 10 years | -37.42% | — | — |
Current DrawdownCurrent decline from peak | -6.60% | -0.10% | -6.50% |
Average DrawdownAverage peak-to-trough decline | -7.79% | -0.02% | -7.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.47% | 0.04% | +2.43% |
Volatility
NZF vs. TFCYX - Volatility Comparison
Nuveen Municipal Credit Income Fund (NZF) has a higher volatility of 5.07% compared to SEI Institutional Managed Trust Tax-Free Conservative Income Fund (TFCYX) at 0.10%. This indicates that NZF's price experiences larger fluctuations and is considered to be riskier than TFCYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NZF | TFCYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.07% | 0.10% | +4.97% |
Volatility (6M)Calculated over the trailing 6-month period | 7.71% | 0.55% | +7.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.70% | 0.81% | +10.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.24% | 1.21% | +11.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.03% | 0.92% | +12.11% |