SRHMX vs. NHMAX
SRHMX (Columbia High Yield Municipal Fund) and NHMAX (Nuveen High Yield Municipal Bond Fund Class A) are both High Yield Muni funds. Over the past 10 years, SRHMX returned 2.51%/yr vs 3.04%/yr for NHMAX. Their 0.75 correlation means they have sometimes moved together and sometimes differently. SRHMX charges 0.65%/yr vs 2.00%/yr for NHMAX.
Performance
SRHMX vs. NHMAX - Performance Comparison
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Returns By Period
In the year-to-date period, SRHMX achieves a 2.33% return, which is significantly higher than NHMAX's 1.76% return. Over the past 10 years, SRHMX has underperformed NHMAX with an annualized return of 2.51%, while NHMAX has yielded a comparatively higher 3.04% annualized return.
SRHMX
- 1D
- -0.33%
- 1M
- -1.95%
- 6M
- 1.48%
- YTD
- 2.33%
- 1Y
- 8.00%
- 3Y*
- 5.80%
- 5Y*
- 0.26%
- 10Y*
- 2.51%
- ALL TIME*
- 4.30%
NHMAX
- 1D
- -0.42%
- 1M
- -2.55%
- 6M
- 1.15%
- YTD
- 1.76%
- 1Y
- 8.76%
- 3Y*
- 4.50%
- 5Y*
- 0.20%
- 10Y*
- 3.04%
- ALL TIME*
- 4.54%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
SRHMX vs. NHMAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SRHMX Columbia High Yield Municipal Fund | 2.33% | 4.36% | 7.72% | 6.63% | -17.44% | 6.57% | 3.75% | 9.05% | 2.43% | 7.05% |
NHMAX Nuveen High Yield Municipal Bond Fund Class A | 1.76% | 2.51% | 5.36% | 6.96% | -15.14% | 9.71% | 3.03% | 11.96% | 1.79% | 11.90% |
Correlation
The correlation between SRHMX and NHMAX is 0.84, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.84 |
Correlation (3Y) Balances recent behavior with more history. | 0.88 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.89 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.85 |
Correlation (All Time) Calculated using the full available price history since Jun 7, 1999 | 0.75 |
The correlation between SRHMX and NHMAX shifts across timeframes, from 0.75 (all time) to 0.89 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SRHMX vs. NHMAX — Risk / Return Rank
SRHMX
NHMAX
SRHMX vs. NHMAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Columbia High Yield Municipal Fund (SRHMX) and Nuveen High Yield Municipal Bond Fund Class A (NHMAX). 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.
| SRHMX | NHMAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.37 | ||
| Sortino ratioReturn per unit of downside risk | +0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.68 | 1.52 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 3.44 | 2.75 | +0.69 |
| Martin ratioReturn relative to average drawdown | 13.99 | 10.02 | +3.97 |
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Drawdowns
SRHMX vs. NHMAX - Drawdown Comparison
The maximum SRHMX drawdown since its inception was -26.04%, smaller than the maximum NHMAX drawdown of -45.60%. Use the drawdown chart below to compare losses from any high point for SRHMX and NHMAX.
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Drawdown Indicators
| SRHMX | NHMAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.04% | -45.60% | +19.56% |
Max Drawdown (1Y)Largest decline over 1 year | -2.72% | -3.58% | +0.86% |
Max Drawdown (3Y)Largest decline over 3 years | -7.94% | -8.93% | +0.99% |
Max Drawdown (5Y)Largest decline over 5 years | -22.59% | -21.65% | -0.94% |
Max Drawdown (10Y)Largest decline over 10 years | -22.59% | -22.22% | -0.37% |
Current DrawdownCurrent decline from peak | -1.95% | -2.55% | +0.60% |
Average DrawdownAverage peak-to-trough decline | -2.98% | -5.46% | +2.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 0.98% | -0.32% |
Volatility
SRHMX vs. NHMAX - Volatility Comparison
Columbia High Yield Municipal Fund (SRHMX) and Nuveen High Yield Municipal Bond Fund Class A (NHMAX) have volatilities of 1.26% and 1.22%, 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.
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Volatility by Period
| SRHMX | NHMAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.26% | 1.22% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 2.76% | 3.28% | -0.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.51% | 4.29% | -0.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.93% | 6.85% | -0.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.63% | 6.70% | -1.07% |
SRHMX vs. NHMAX - Expense Ratio Comparison
SRHMX has a 0.65% expense ratio, which is lower than NHMAX's 2.00% expense ratio.
Dividends
SRHMX vs. NHMAX - Dividend Comparison
SRHMX's dividend yield for the trailing twelve months is around 4.32%, less than NHMAX's 5.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NHMAX Nuveen High Yield Municipal Bond Fund Class A | 5.05% | 5.84% | 5.54% | 7.10% | 5.41% | 4.49% | 4.83% | 4.77% | 5.26% | 5.20% | 5.61% | 5.39% |
SRHMX Columbia High Yield Municipal Fund | 4.32% | 5.65% | 4.79% | 4.30% | 4.46% | 3.40% | 3.83% | 4.55% | 5.10% | 4.30% | 4.56% | 4.55% |
Frequently Asked Questions
SRHMX and NHMAX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SRHMX has higher volatility (1.26%) compared to NHMAX (1.22%). In terms of maximum drawdown, SRHMX dropped -26.04% vs NHMAX's -45.60%.
SRHMX currently has the higher Sharpe Ratio (2.67 vs 2.29), 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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