USTEX vs. NMTRX
Compare and contrast key facts about USAA Tax Exempt Long Term Fund (USTEX) and Nuveen Municipal Total Return Managed Accounts (NMTRX).
USTEX is managed by Victory. It was launched on Mar 18, 1982. NMTRX is managed by BlackRock. It was launched on May 30, 2007.
Performance
USTEX vs. NMTRX - Performance Comparison
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USTEX vs. NMTRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USTEX USAA Tax Exempt Long Term Fund | -0.41% | 3.60% | 3.51% | 6.91% | -12.39% | 3.53% | 5.45% | 7.49% | 0.82% | 5.44% |
NMTRX Nuveen Municipal Total Return Managed Accounts | -0.12% | 3.90% | 1.99% | 6.21% | -11.98% | 2.69% | 5.25% | 9.26% | 1.06% | 7.41% |
Returns By Period
In the year-to-date period, USTEX achieves a -0.41% return, which is significantly lower than NMTRX's -0.12% return. Over the past 10 years, USTEX has underperformed NMTRX with an annualized return of 2.15%, while NMTRX has yielded a comparatively higher 2.27% annualized return.
USTEX
- 1D
- 0.42%
- 1M
- -2.46%
- YTD
- -0.41%
- 6M
- 1.60%
- 1Y
- 3.26%
- 3Y*
- 3.56%
- 5Y*
- 0.67%
- 10Y*
- 2.15%
NMTRX
- 1D
- 0.20%
- 1M
- -1.97%
- YTD
- -0.12%
- 6M
- 1.65%
- 1Y
- 3.78%
- 3Y*
- 3.22%
- 5Y*
- 0.38%
- 10Y*
- 2.27%
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USTEX vs. NMTRX - Expense Ratio Comparison
USTEX has a 0.46% expense ratio, which is higher than NMTRX's 0.05% expense ratio.
Return for Risk
USTEX vs. NMTRX — Risk / Return Rank
USTEX
NMTRX
USTEX vs. NMTRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for USAA Tax Exempt Long Term Fund (USTEX) 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.
| USTEX | NMTRX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.45 | 0.84 | -0.38 |
Sortino ratioReturn per unit of downside risk | 0.64 | 1.16 | -0.51 |
Omega ratioGain probability vs. loss probability | 1.16 | 1.23 | -0.06 |
Calmar ratioReturn relative to maximum drawdown | 0.62 | 0.99 | -0.37 |
Martin ratioReturn relative to average drawdown | 1.69 | 2.89 | -1.20 |
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
| USTEX | NMTRX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.45 | 0.84 | -0.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.12 | 0.10 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.43 | 0.52 | -0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.90 | 0.97 | -0.07 |
Correlation
The correlation between USTEX and NMTRX is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
USTEX vs. NMTRX - Dividend Comparison
USTEX's dividend yield for the trailing twelve months is around 3.76%, less than NMTRX's 4.19% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
USTEX USAA Tax Exempt Long Term Fund | 3.76% | 4.04% | 4.29% | 3.33% | 3.42% | 2.66% | 3.39% | 3.42% | 3.78% | 3.54% | 4.13% | 3.86% |
NMTRX Nuveen Municipal Total Return Managed Accounts | 4.19% | 4.46% | 3.55% | 3.67% | 3.28% | 2.73% | 2.92% | 3.20% | 3.47% | 3.28% | 3.71% | 3.91% |
Drawdowns
USTEX vs. NMTRX - Drawdown Comparison
The maximum USTEX drawdown since its inception was -20.42%, which is greater than NMTRX's maximum drawdown of -16.36%. Use the drawdown chart below to compare losses from any high point for USTEX and NMTRX.
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Drawdown Indicators
| USTEX | NMTRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.42% | -16.36% | -4.06% |
Max Drawdown (1Y)Largest decline over 1 year | -7.08% | -4.75% | -2.33% |
Max Drawdown (5Y)Largest decline over 5 years | -17.95% | -16.36% | -1.59% |
Max Drawdown (10Y)Largest decline over 10 years | -17.95% | -16.36% | -1.59% |
Current DrawdownCurrent decline from peak | -2.78% | -2.25% | -0.53% |
Average DrawdownAverage peak-to-trough decline | -2.86% | -2.93% | +0.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.58% | 1.62% | +0.96% |
Volatility
USTEX vs. NMTRX - Volatility Comparison
USAA Tax Exempt Long Term Fund (USTEX) has a higher volatility of 1.22% compared to Nuveen Municipal Total Return Managed Accounts (NMTRX) at 1.07%. This indicates that USTEX's price experiences larger fluctuations and is considered to be riskier than NMTRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USTEX | NMTRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.22% | 1.07% | +0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 1.98% | 1.82% | +0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.18% | 4.93% | +3.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.67% | 3.97% | +1.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.03% | 4.38% | +0.65% |