SNTIX vs. NMTRX

Last updated Jun 23, 2026

SNTIX (SIT Tax Free Income Fund) and NMTRX (Nuveen Municipal Total Return Managed Accounts) are both Municipal Bonds funds. Over the past 10 years, SNTIX returned 2.20%/yr vs 2.29%/yr for NMTRX. A 0.74 correlation means they provide meaningful diversification when combined. SNTIX charges 0.80%/yr vs 0.05%/yr for NMTRX.

Performance

SNTIX vs. NMTRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SIT Tax Free Income Fund (SNTIX) and Nuveen Municipal Total Return Managed Accounts (NMTRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with SNTIX having a 2.70% return and NMTRX slightly lower at 2.68%. Both investments have delivered pretty close results over the past 10 years, with SNTIX having a 2.20% annualized return and NMTRX not far ahead at 2.29%.

SNTIX

• 1D: 0.23%
• 1M: 2.27%
• YTD: 2.70%
• 6M: 3.17%
• 1Y: 9.23%
• 3Y*: 5.53%
• 5Y*: 0.90%
• 10Y*: 2.20%

NMTRX

• 1D: 0.10%
• 1M: 2.01%
• YTD: 2.68%
• 6M: 3.08%
• 1Y: 8.28%
• 3Y*: 4.20%
• 5Y*: 0.52%
• 10Y*: 2.29%

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

SNTIX vs. NMTRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SNTIX SIT Tax Free Income Fund	2.70%	5.29%	5.95%	5.02%	-13.91%	3.01%	3.76%	7.34%	0.75%	7.70%
NMTRX Nuveen Municipal Total Return Managed Accounts	2.68%	3.90%	1.99%	6.21%	-11.98%	2.69%	5.25%	9.26%	1.06%	7.41%

Correlation

The correlation between SNTIX and NMTRX is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since May 31, 2007	0.74

The correlation between SNTIX and NMTRX shifts across timeframes, from 0.74 (all time) to 0.87 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

SNTIX vs. NMTRX — Risk / Return Rank

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

SNTIX

SNTIX Risk / Return Rank: 80
SNTIX Sharpe Ratio Rank: 87
SNTIX Sortino Ratio Rank: 91
SNTIX Omega Ratio Rank: 92
SNTIX Calmar Ratio Rank: 69
SNTIX Martin Ratio Rank: 62

NMTRX

NMTRX Risk / Return Rank: 83
NMTRX Sharpe Ratio Rank: 91
NMTRX Sortino Ratio Rank: 94
NMTRX Omega Ratio Rank: 94
NMTRX Calmar Ratio Rank: 72
NMTRX Martin Ratio Rank: 62

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.

SNTIX vs. NMTRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SIT Tax Free Income Fund (SNTIX) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	SNTIX	NMTRX	Difference
Sharpe ratio: Return per unit of total volatility	2.62	2.80	-0.18
Sortino ratio: Return per unit of downside risk	4.17	4.63	-0.46
Omega ratio: Gain probability vs. loss probability	1.65	1.71	-0.06
Calmar ratio: Return relative to maximum drawdown	3.05	3.14	-0.09
Martin ratio: Return relative to average drawdown	11.46	11.55	-0.09

SNTIX vs. NMTRX - Sharpe Ratio Comparison

The current SNTIX Sharpe Ratio is 2.62, which is comparable to the NMTRX Sharpe Ratio of 2.80. The chart below compares the historical Sharpe Ratios of SNTIX and NMTRX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SNTIX vs. NMTRX - Drawdown Comparison

The maximum SNTIX drawdown since its inception was -18.13%, which is greater than NMTRX's maximum drawdown of -16.36%. Use the drawdown chart below to compare losses from any high point for SNTIX and NMTRX.

Drawdown Indicators

	SNTIX	NMTRX	Difference
Max Drawdown Largest peak-to-trough decline	-18.13%	-16.36%	-1.77%
Max Drawdown (1Y) Largest decline over 1 year	-3.04%	-2.65%	-0.39%
Max Drawdown (3Y) Largest decline over 3 years	-6.75%	-5.77%	-0.98%
Max Drawdown (5Y) Largest decline over 5 years	-18.13%	-16.36%	-1.77%
Max Drawdown (10Y) Largest decline over 10 years	-18.13%	-16.36%	-1.77%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.31%	-2.90%	+0.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.81%	0.72%	+0.09%

Volatility

SNTIX vs. NMTRX - Volatility Comparison

SIT Tax Free Income Fund (SNTIX) and Nuveen Municipal Total Return Managed Accounts (NMTRX) have volatilities of 0.91% and 0.88%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SNTIX	NMTRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.91%	0.88%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	2.57%	2.24%	+0.33%
Volatility (1Y) Calculated over the trailing 1-year period	3.54%	2.97%	+0.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.62%	4.02%	+0.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.55%	4.40%	+0.15%

SNTIX vs. NMTRX - Expense Ratio Comparison

SNTIX has a 0.80% expense ratio, which is higher than NMTRX's 0.05% expense ratio.

Dividends

SNTIX vs. NMTRX - Dividend Comparison

SNTIX's dividend yield for the trailing twelve months is around 3.65%, less than NMTRX's 4.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NMTRX Nuveen Municipal Total Return Managed Accounts	4.57%	4.46%	3.55%	3.67%	3.28%	2.73%	2.92%	3.20%	3.47%	3.28%	3.71%	3.91%
SNTIX SIT Tax Free Income Fund	3.65%	4.49%	4.14%	3.54%	1.88%	2.46%	2.62%	3.33%	3.37%	4.01%	3.70%	3.60%

Frequently Asked Questions

Can I hold both SNTIX and NMTRX in my portfolio?

SNTIX and NMTRX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SNTIX or NMTRX?

SNTIX has higher volatility (0.91%) compared to NMTRX (0.88%). In terms of maximum drawdown, SNTIX dropped -18.13% vs NMTRX's -16.36%.

Which has better risk-adjusted returns?

NMTRX currently has the higher Sharpe Ratio (2.80 vs 2.62), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.