PMFLX vs. NRK

Last updated Jun 4, 2026

PMFLX (PIMCO Flexible Municipal Income Fund) and NRK (Nuveen New York AMT Free Quality Municipal Income) are both Municipal Bonds funds. A 0.60 correlation means they provide meaningful diversification when combined. PMFLX charges 0.70%/yr vs 2.16%/yr for NRK.

Performance

PMFLX vs. NRK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Flexible Municipal Income Fund (PMFLX) and Nuveen New York AMT Free Quality Municipal Income (NRK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PMFLX

• 1D: 0.20%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NRK

• 1D: -1.42%
• 1M: -0.58%
• YTD: 6.87%
• 6M: 6.97%
• 1Y: 15.65%
• 3Y*: 7.89%
• 5Y*: 0.01%
• 10Y*: 2.31%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PMFLX vs. NRK - Yearly Performance Comparison

	2026 (YTD)
PMFLX PIMCO Flexible Municipal Income Fund	0.66%
NRK Nuveen New York AMT Free Quality Municipal Income	-1.60%

Correlation

The correlation between PMFLX and NRK is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 29, 2026	0.60

Return for Risk

PMFLX vs. NRK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NRK

NRK Risk / Return Rank: 48
NRK Sharpe Ratio Rank: 42
NRK Sortino Ratio Rank: 54
NRK Omega Ratio Rank: 46
NRK Calmar Ratio Rank: 59
NRK Martin Ratio Rank: 36

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PMFLX vs. NRK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Flexible Municipal Income Fund (PMFLX) and Nuveen New York AMT Free Quality Municipal Income (NRK). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	PMFLX	NRK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.90	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.00	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.22	—
Sharpe Ratio (All Time) Calculated using the full available price history	17.21	0.30	+16.92

Drawdowns

PMFLX vs. NRK - Drawdown Comparison

The maximum PMFLX drawdown since its inception was -0.10%, smaller than the maximum NRK drawdown of -40.18%. Use the drawdown chart below to compare losses from any high point for PMFLX and NRK.

Drawdown Indicators

	PMFLX	NRK	Difference
Max Drawdown Largest peak-to-trough decline	-0.10%	-40.18%	+40.08%
Max Drawdown (1Y) Largest decline over 1 year	—	-5.32%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-12.67%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-31.06%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-31.06%	—
Current Drawdown Current decline from peak	0.00%	-3.56%	+3.56%
Average Drawdown Average peak-to-trough decline	-0.03%	-8.19%	+8.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.99%	—

Volatility

Volatility by Period

	PMFLX	NRK	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.27%	—
Volatility (6M) Calculated over the trailing 6-month period	—	6.42%	—
Volatility (1Y) Calculated over the trailing 1-year period	5.22%	8.27%	-3.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.22%	9.90%	-4.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.22%	10.32%	-5.10%

PMFLX vs. NRK - Expense Ratio Comparison

PMFLX has a 0.70% expense ratio, which is lower than NRK's 2.16% expense ratio.

Dividends

PMFLX vs. NRK - Dividend Comparison

PMFLX's dividend yield for the trailing twelve months is around 0.36%, less than NRK's 7.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NRK Nuveen New York AMT Free Quality Municipal Income	7.94%	8.21%	6.74%	4.06%	5.41%	4.18%	4.15%	3.98%	4.68%	4.85%	5.37%	5.44%
PMFLX PIMCO Flexible Municipal Income Fund	0.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PMFLX and NRK in my portfolio?

PMFLX and NRK have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.