TRIEX vs. NHMRX

Last updated Jun 3, 2026

TRIEX (Nuveen International Equity Index Fund Retirement Class) and NHMRX (Nuveen High Yield Municipal Bond Fund) are both mutual funds - TRIEX is a International Equity fund tracking the MSCI EAFE Index, while NHMRX is a High Yield Muni fund managed by Nuveen. Over the past 10 years, TRIEX returned 9.08%/yr vs 3.75%/yr for NHMRX. At a 0.01 correlation, their price movements are largely independent. TRIEX charges 0.30%/yr vs 0.52%/yr for NHMRX.

Performance

TRIEX vs. NHMRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen International Equity Index Fund Retirement Class (TRIEX) and Nuveen High Yield Municipal Bond Fund (NHMRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TRIEX achieves a 9.05% return, which is significantly higher than NHMRX's 3.18% return. Over the past 10 years, TRIEX has outperformed NHMRX with an annualized return of 9.08%, while NHMRX has yielded a comparatively lower 3.75% annualized return.

TRIEX

• 1D: -0.26%
• 1M: 2.56%
• YTD: 9.05%
• 6M: 11.95%
• 1Y: 20.55%
• 3Y*: 16.65%
• 5Y*: 8.37%
• 10Y*: 9.08%

NHMRX

• 1D: 0.28%
• 1M: 1.39%
• YTD: 3.18%
• 6M: 3.87%
• 1Y: 10.14%
• 3Y*: 5.26%
• 5Y*: 1.21%
• 10Y*: 3.75%

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

TRIEX vs. NHMRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TRIEX Nuveen International Equity Index Fund Retirement Class	9.05%	31.24%	3.41%	17.93%	-14.44%	11.08%	7.85%	21.58%	-13.56%	25.06%
NHMRX Nuveen High Yield Municipal Bond Fund	3.18%	3.24%	5.62%	7.31%	-14.96%	9.93%	3.25%	12.59%	2.06%	12.10%

Correlation

The correlation between TRIEX and NHMRX is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.17
Correlation (10Y) Calculated over the trailing 10-year period	0.10
Correlation (All Time) Calculated using the full available price history since Sep 10, 2002	0.01

Over the past year, TRIEX and NHMRX have become more correlated (0.31) than their long-term average of 0.01, meaning their price movements have been converging.

Return for Risk

TRIEX vs. NHMRX — Risk / Return Rank

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

TRIEX

TRIEX Risk / Return Rank: 27
TRIEX Sharpe Ratio Rank: 26
TRIEX Sortino Ratio Rank: 25
TRIEX Omega Ratio Rank: 25
TRIEX Calmar Ratio Rank: 29
TRIEX Martin Ratio Rank: 33

NHMRX

NHMRX Risk / Return Rank: 61
NHMRX Sharpe Ratio Rank: 58
NHMRX Sortino Ratio Rank: 73
NHMRX Omega Ratio Rank: 78
NHMRX Calmar Ratio Rank: 54
NHMRX Martin Ratio Rank: 39

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.

TRIEX vs. NHMRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen International Equity Index Fund Retirement Class (TRIEX) and Nuveen High Yield Municipal Bond Fund (NHMRX). 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.

	TRIEX	NHMRX	Difference
Sharpe ratio Return per unit of total volatility	1.46	2.25	-0.79
Sortino ratio Return per unit of downside risk	2.09	3.55	-1.46
Omega ratio Gain probability vs. loss probability	1.26	1.51	-0.25
Calmar ratio Return relative to maximum drawdown	2.01	2.81	-0.80
Martin ratio Return relative to average drawdown	7.51	8.50	-0.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TRIEX vs. NHMRX - Sharpe Ratio Comparison

The current TRIEX Sharpe Ratio is 1.46, which is lower than the NHMRX Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of TRIEX and NHMRX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TRIEX	NHMRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.46	2.25	-0.79
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.18	+0.34
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.56	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.89	-0.48

Drawdowns

TRIEX vs. NHMRX - Drawdown Comparison

The maximum TRIEX drawdown since its inception was -60.73%, which is greater than NHMRX's maximum drawdown of -45.45%. Use the drawdown chart below to compare losses from any high point for TRIEX and NHMRX.

Drawdown Indicators

	TRIEX	NHMRX	Difference
Max Drawdown Largest peak-to-trough decline	-60.73%	-45.45%	-15.28%
Max Drawdown (1Y) Largest decline over 1 year	-11.37%	-3.58%	-7.79%
Max Drawdown (3Y) Largest decline over 3 years	-13.55%	-10.49%	-3.06%
Max Drawdown (5Y) Largest decline over 5 years	-29.44%	-21.52%	-7.92%
Max Drawdown (10Y) Largest decline over 10 years	-33.96%	-22.22%	-11.74%
Current Drawdown Current decline from peak	-0.89%	0.00%	-0.89%
Average Drawdown Average peak-to-trough decline	-11.44%	-5.33%	-6.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.04%	1.18%	+1.86%

Volatility

TRIEX vs. NHMRX - Volatility Comparison

Nuveen International Equity Index Fund Retirement Class (TRIEX) has a higher volatility of 4.73% compared to Nuveen High Yield Municipal Bond Fund (NHMRX) at 1.59%. This indicates that TRIEX's price experiences larger fluctuations and is considered to be riskier than NHMRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRIEX	NHMRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.73%	1.59%	+3.14%
Volatility (6M) Calculated over the trailing 6-month period	12.33%	3.17%	+9.16%
Volatility (1Y) Calculated over the trailing 1-year period	15.17%	4.50%	+10.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.10%	6.85%	+9.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.65%	6.73%	+9.92%

TRIEX vs. NHMRX - Expense Ratio Comparison

TRIEX has a 0.30% expense ratio, which is lower than NHMRX's 0.52% expense ratio.

Dividends

TRIEX vs. NHMRX - Dividend Comparison

TRIEX's dividend yield for the trailing twelve months is around 3.27%, less than NHMRX's 6.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NHMRX Nuveen High Yield Municipal Bond Fund	6.09%	6.54%	5.79%	7.34%	5.64%	4.69%	5.03%	5.39%	5.47%	5.38%	5.88%	5.60%
TRIEX Nuveen International Equity Index Fund Retirement Class	3.27%	3.57%	2.84%	2.83%	2.49%	2.69%	1.70%	2.78%	3.05%	2.51%	2.65%	2.72%

Frequently Asked Questions

Can I hold both TRIEX and NHMRX in my portfolio?

TRIEX and NHMRX have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TRIEX or NHMRX?

TRIEX has higher volatility (4.73%) compared to NHMRX (1.59%). In terms of maximum drawdown, TRIEX dropped -60.73% vs NHMRX's -45.45%.

Which has better risk-adjusted returns?

NHMRX currently has the higher Sharpe Ratio (2.25 vs 1.46), 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.