SPMFX vs. NUV
SPMFX (Symmetry Panoramic Municipal Fixed Income Fund) and NUV (Nuveen Municipal Value Fund Inc.) are both Municipal Bonds funds. Over the past 5 years, SPMFX returned 1.29%/yr vs -0.61%/yr for NUV. At a 0.31 correlation, their price movements are largely independent. SPMFX charges 0.41%/yr vs 0.52%/yr for NUV.
Performance
SPMFX vs. NUV - Performance Comparison
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Returns By Period
In the year-to-date period, SPMFX achieves a 1.44% return, which is significantly lower than NUV's 2.83% return.
SPMFX
- 1D
- 0.20%
- 1M
- 1.14%
- YTD
- 1.44%
- 6M
- 1.55%
- 1Y
- 4.91%
- 3Y*
- 2.94%
- 5Y*
- 1.29%
- 10Y*
- —
NUV
- 1D
- -0.44%
- 1M
- 1.70%
- YTD
- 2.83%
- 6M
- 3.98%
- 1Y
- 11.77%
- 3Y*
- 5.93%
- 5Y*
- -0.61%
- 10Y*
- 2.23%
SPMFX vs. NUV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SPMFX Symmetry Panoramic Municipal Fixed Income Fund | 1.44% | 3.23% | 1.81% | 3.41% | -3.04% | -0.31% | 1.47% | 2.31% | 0.88% |
NUV Nuveen Municipal Value Fund Inc. | 2.83% | 10.27% | 4.04% | 3.99% | -14.03% | -3.51% | 7.50% | 19.75% | 0.89% |
Correlation
The correlation between SPMFX and NUV is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Nov 12, 2018 | 0.31 |
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Return for Risk
SPMFX vs. NUV — Risk / Return Rank
SPMFX
NUV
SPMFX vs. NUV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Symmetry Panoramic Municipal Fixed Income Fund (SPMFX) and Nuveen Municipal Value Fund Inc. (NUV). 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.
| SPMFX | NUV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.59 | ||
| Sortino ratioReturn per unit of downside risk | +0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.56 | 1.31 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 2.23 | 2.82 | -0.59 |
| Martin ratioReturn relative to average drawdown | 8.02 | 11.79 | -3.76 |
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Drawdowns
SPMFX vs. NUV - Drawdown Comparison
The maximum SPMFX drawdown since its inception was -5.39%, smaller than the maximum NUV drawdown of -35.42%. Use the drawdown chart below to compare losses from any high point for SPMFX and NUV.
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Drawdown Indicators
| SPMFX | NUV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.39% | -35.42% | +30.03% |
Max Drawdown (1Y)Largest decline over 1 year | -2.26% | -4.20% | +1.94% |
Max Drawdown (3Y)Largest decline over 3 years | -2.86% | -9.24% | +6.38% |
Max Drawdown (5Y)Largest decline over 5 years | -5.39% | -28.29% | +22.90% |
Max Drawdown (10Y)Largest decline over 10 years | — | -28.29% | — |
Current DrawdownCurrent decline from peak | -0.27% | -6.92% | +6.65% |
Average DrawdownAverage peak-to-trough decline | -1.01% | -8.99% | +7.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.63% | 1.00% | -0.37% |
Volatility
SPMFX vs. NUV - Volatility Comparison
The current volatility for Symmetry Panoramic Municipal Fixed Income Fund (SPMFX) is 0.62%, while Nuveen Municipal Value Fund Inc. (NUV) has a volatility of 2.07%. This indicates that SPMFX experiences smaller price fluctuations and is considered to be less risky than NUV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPMFX | NUV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.62% | 2.07% | -1.45% |
Volatility (6M)Calculated over the trailing 6-month period | 1.85% | 5.21% | -3.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.20% | 6.94% | -4.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.96% | 9.53% | -7.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.93% | 10.34% | -8.41% |
SPMFX vs. NUV - Expense Ratio Comparison
SPMFX has a 0.41% expense ratio, which is lower than NUV's 0.52% expense ratio.
Dividends
SPMFX vs. NUV - Dividend Comparison
SPMFX's dividend yield for the trailing twelve months is around 2.67%, less than NUV's 4.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NUV Nuveen Municipal Value Fund Inc. | 4.28% | 4.30% | 4.16% | 3.94% | 3.91% | 3.41% | 3.35% | 3.48% | 4.01% | 3.99% | 4.10% | 3.95% |
SPMFX Symmetry Panoramic Municipal Fixed Income Fund | 2.67% | 2.05% | 2.50% | 1.52% | 0.59% | 0.27% | 0.68% | 1.00% | 0.08% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPMFX and NUV have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NUV has higher volatility (2.07%) compared to SPMFX (0.62%). In terms of maximum drawdown, SPMFX dropped -5.39% vs NUV's -35.42%.
SPMFX currently has the higher Sharpe Ratio (2.29 vs 1.71), 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.
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