USATX vs. NMI
Compare and contrast key facts about USAA Tax Exempt Intermediate Term Fund (USATX) and Nuveen Municipal Income Fund, Inc. (NMI).
USATX is managed by Victory. It was launched on Mar 18, 1982. NMI is managed by Nuveen. It was launched on Apr 20, 1998.
Performance
USATX vs. NMI - Performance Comparison
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USATX vs. NMI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USATX USAA Tax Exempt Intermediate Term Fund | -0.17% | 4.75% | 2.89% | 5.30% | -8.12% | 2.06% | 4.91% | 7.03% | 1.25% | 5.77% |
NMI Nuveen Municipal Income Fund, Inc. | 6.43% | 10.52% | 7.03% | 1.90% | -15.09% | 3.86% | 4.70% | 16.02% | -8.07% | 7.49% |
Returns By Period
In the year-to-date period, USATX achieves a -0.17% return, which is significantly lower than NMI's 6.43% return. Both investments have delivered pretty close results over the past 10 years, with USATX having a 2.27% annualized return and NMI not far ahead at 2.38%.
USATX
- 1D
- 0.16%
- 1M
- -1.96%
- YTD
- -0.17%
- 6M
- 1.28%
- 1Y
- 3.94%
- 3Y*
- 3.47%
- 5Y*
- 1.14%
- 10Y*
- 2.27%
NMI
- 1D
- 5.56%
- 1M
- 5.32%
- YTD
- 6.43%
- 6M
- 7.87%
- 1Y
- 11.18%
- 3Y*
- 8.47%
- 5Y*
- 2.21%
- 10Y*
- 2.38%
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USATX vs. NMI - Expense Ratio Comparison
USATX has a 0.49% expense ratio, which is lower than NMI's 0.72% expense ratio.
Return for Risk
USATX vs. NMI — Risk / Return Rank
USATX
NMI
USATX vs. NMI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for USAA Tax Exempt Intermediate Term Fund (USATX) and Nuveen Municipal Income Fund, Inc. (NMI). 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.
| USATX | NMI | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.77 | 0.93 | -0.16 |
Sortino ratioReturn per unit of downside risk | 1.04 | 1.64 | -0.60 |
Omega ratioGain probability vs. loss probability | 1.29 | 1.24 | +0.05 |
Calmar ratioReturn relative to maximum drawdown | 0.98 | 1.43 | -0.45 |
Martin ratioReturn relative to average drawdown | 3.95 | 2.89 | +1.06 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| USATX | NMI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.77 | 0.93 | -0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.31 | 0.16 | +0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.62 | 0.16 | +0.46 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.12 | 0.34 | +0.79 |
Correlation
The correlation between USATX and NMI is 0.15, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
USATX vs. NMI - Dividend Comparison
USATX's dividend yield for the trailing twelve months is around 3.45%, less than NMI's 4.36% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
USATX USAA Tax Exempt Intermediate Term Fund | 3.45% | 3.71% | 3.89% | 2.95% | 2.97% | 2.33% | 2.91% | 2.87% | 3.04% | 3.15% | 3.23% | 3.26% |
NMI Nuveen Municipal Income Fund, Inc. | 4.36% | 4.59% | 4.63% | 4.04% | 3.51% | 3.22% | 3.53% | 4.15% | 5.12% | 4.21% | 4.45% | 4.28% |
Drawdowns
USATX vs. NMI - Drawdown Comparison
The maximum USATX drawdown since its inception was -12.72%, smaller than the maximum NMI drawdown of -28.92%. Use the drawdown chart below to compare losses from any high point for USATX and NMI.
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Drawdown Indicators
| USATX | NMI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.72% | -28.92% | +16.20% |
Max Drawdown (1Y)Largest decline over 1 year | -4.92% | -8.71% | +3.79% |
Max Drawdown (5Y)Largest decline over 5 years | -12.52% | -28.92% | +16.40% |
Max Drawdown (10Y)Largest decline over 10 years | -12.52% | -28.92% | +16.40% |
Current DrawdownCurrent decline from peak | -2.11% | 0.00% | -2.11% |
Average DrawdownAverage peak-to-trough decline | -1.90% | -5.93% | +4.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.22% | 4.31% | -3.09% |
Volatility
USATX vs. NMI - Volatility Comparison
The current volatility for USAA Tax Exempt Intermediate Term Fund (USATX) is 0.81%, while Nuveen Municipal Income Fund, Inc. (NMI) has a volatility of 5.73%. This indicates that USATX experiences smaller price fluctuations and is considered to be less risky than NMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USATX | NMI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.81% | 5.73% | -4.92% |
Volatility (6M)Calculated over the trailing 6-month period | 1.40% | 7.38% | -5.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.58% | 12.13% | -6.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.71% | 13.58% | -9.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.66% | 14.60% | -10.94% |