WHYIX vs. NSIOX
WHYIX (Allspring High Yield Municipal Bond Fund) and NSIOX (Nuveen Strategic Municipal Opportunities Fund) are both High Yield Muni funds. Over the past 10 years, WHYIX returned 2.80%/yr vs 2.89%/yr for NSIOX. Their correlation of 0.81 suggests significant overlap in exposure. WHYIX charges 0.55%/yr vs 0.56%/yr for NSIOX.
Performance
WHYIX vs. NSIOX - Performance Comparison
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Returns By Period
In the year-to-date period, WHYIX achieves a 3.59% return, which is significantly higher than NSIOX's 1.99% return. Both investments have delivered pretty close results over the past 10 years, with WHYIX having a 2.80% annualized return and NSIOX not far ahead at 2.89%.
WHYIX
- 1D
- 0.00%
- 1M
- 0.91%
- 6M
- 3.26%
- YTD
- 3.59%
- 1Y
- 9.28%
- 3Y*
- 5.00%
- 5Y*
- 0.93%
- 10Y*
- 2.80%
NSIOX
- 1D
- 0.00%
- 1M
- 0.56%
- 6M
- 1.58%
- YTD
- 1.99%
- 1Y
- 6.11%
- 3Y*
- 4.68%
- 5Y*
- 0.39%
- 10Y*
- 2.89%
WHYIX vs. NSIOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WHYIX Allspring High Yield Municipal Bond Fund | 3.59% | 2.76% | 5.61% | 5.78% | -12.07% | 5.02% | 2.19% | 9.18% | 3.76% | 9.00% |
NSIOX Nuveen Strategic Municipal Opportunities Fund | 1.99% | 3.19% | 4.61% | 7.17% | -13.81% | 5.21% | 6.82% | 10.07% | 3.31% | 9.77% |
Correlation
The correlation between WHYIX and NSIOX is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Jan 8, 2015 | 0.81 |
The correlation between WHYIX and NSIOX has been stable across timeframes, ranging from 0.81 to 0.86 - a consistent structural relationship.
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Return for Risk
WHYIX vs. NSIOX — Risk / Return Rank
WHYIX
NSIOX
WHYIX vs. NSIOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Allspring High Yield Municipal Bond Fund (WHYIX) and Nuveen Strategic Municipal Opportunities Fund (NSIOX). 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.
| WHYIX | NSIOX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.70 | ||
| Sortino ratioReturn per unit of downside risk | +1.25 | ||
| Omega ratioGain probability vs. loss probability | 1.67 | 1.47 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 3.44 | 2.04 | +1.39 |
| Martin ratioReturn relative to average drawdown | 13.19 | 6.37 | +6.82 |
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Drawdowns
WHYIX vs. NSIOX - Drawdown Comparison
The maximum WHYIX drawdown since its inception was -16.88%, smaller than the maximum NSIOX drawdown of -18.38%. Use the drawdown chart below to compare losses from any high point for WHYIX and NSIOX.
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Drawdown Indicators
| WHYIX | NSIOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.88% | -18.38% | +1.50% |
Max Drawdown (1Y)Largest decline over 1 year | -2.64% | -2.91% | +0.27% |
Max Drawdown (3Y)Largest decline over 3 years | -7.18% | -6.17% | -1.01% |
Max Drawdown (5Y)Largest decline over 5 years | -16.88% | -18.38% | +1.50% |
Max Drawdown (10Y)Largest decline over 10 years | -16.88% | -18.38% | +1.50% |
Current DrawdownCurrent decline from peak | -0.53% | -0.40% | -0.13% |
Average DrawdownAverage peak-to-trough decline | -3.02% | -3.55% | +0.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.71% | 0.97% | -0.26% |
Volatility
WHYIX vs. NSIOX - Volatility Comparison
Allspring High Yield Municipal Bond Fund (WHYIX) has a higher volatility of 0.73% compared to Nuveen Strategic Municipal Opportunities Fund (NSIOX) at 0.62%. This indicates that WHYIX's price experiences larger fluctuations and is considered to be riskier than NSIOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WHYIX | NSIOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.73% | 0.62% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 2.47% | 2.13% | +0.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.32% | 2.92% | +0.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.87% | 4.50% | +0.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.53% | 4.67% | -0.14% |
WHYIX vs. NSIOX - Expense Ratio Comparison
WHYIX has a 0.55% expense ratio, which is lower than NSIOX's 0.56% expense ratio.
Dividends
WHYIX vs. NSIOX - Dividend Comparison
WHYIX's dividend yield for the trailing twelve months is around 4.68%, more than NSIOX's 4.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NSIOX Nuveen Strategic Municipal Opportunities Fund | 4.17% | 4.53% | 3.91% | 3.85% | 4.20% | 4.25% | 2.88% | 3.25% | 3.12% | 3.22% | 4.09% | 2.48% |
WHYIX Allspring High Yield Municipal Bond Fund | 4.68% | 4.69% | 4.71% | 3.74% | 4.04% | 3.81% | 4.24% | 3.73% | 3.96% | 3.89% | 4.41% | 3.96% |
Frequently Asked Questions
WHYIX and NSIOX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WHYIX has higher volatility (0.73%) compared to NSIOX (0.62%). In terms of maximum drawdown, WHYIX dropped -16.88% vs NSIOX's -18.38%.
WHYIX currently has the higher Sharpe Ratio (2.74 vs 2.03), 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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