XQQQX vs. NVHIX

Last updated Jun 23, 2026

XQQQX (Nuveen NASDAQ 100 Dynamic Overwrite Fund) and NVHIX (Nuveen Short Duration High Yield Municipal Bond Fund) are both mutual funds - XQQQX is a Large Cap Growth Equities fund tracking the Nasdaq 100 Index, while NVHIX is a High Yield Muni fund managed by Nuveen. Over the past 10 years, XQQQX returned 10.70%/yr vs 3.18%/yr for NVHIX. At a 0.03 correlation, their price movements are largely independent. XQQQX charges 0.92%/yr vs 0.55%/yr for NVHIX.

Performance

XQQQX vs. NVHIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen NASDAQ 100 Dynamic Overwrite Fund (XQQQX) and Nuveen Short Duration High Yield Municipal Bond Fund (NVHIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XQQQX achieves a 4.30% return, which is significantly higher than NVHIX's 2.04% return. Over the past 10 years, XQQQX has outperformed NVHIX with an annualized return of 10.70%, while NVHIX has yielded a comparatively lower 3.18% annualized return.

XQQQX

• 1D: 1.96%
• 1M: -1.47%
• YTD: 4.30%
• 6M: 3.83%
• 1Y: 18.00%
• 3Y*: 15.53%
• 5Y*: 9.26%
• 10Y*: 10.70%

NVHIX

• 1D: 0.11%
• 1M: 1.24%
• YTD: 2.04%
• 6M: 2.47%
• 1Y: 4.80%
• 3Y*: 4.25%
• 5Y*: 1.97%
• 10Y*: 3.18%

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

XQQQX vs. NVHIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XQQQX Nuveen NASDAQ 100 Dynamic Overwrite Fund	4.30%	9.55%	27.22%	35.21%	-27.72%	19.87%	16.62%	25.33%	-9.38%	16.84%
NVHIX Nuveen Short Duration High Yield Municipal Bond Fund	2.04%	2.43%	6.88%	3.54%	-6.73%	8.44%	-0.10%	8.27%	3.47%	8.17%

Correlation

The correlation between XQQQX and NVHIX is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.06
Correlation (5Y) Calculated over the trailing 5-year period	0.08
Correlation (10Y) Calculated over the trailing 10-year period	0.07
Correlation (All Time) Calculated using the full available price history since Feb 4, 2013	0.03

The correlation between XQQQX and NVHIX shifts across timeframes, from 0.03 (all time) to 0.17 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

XQQQX vs. NVHIX — Risk / Return Rank

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

XQQQX

XQQQX Risk / Return Rank: 29
XQQQX Sharpe Ratio Rank: 29
XQQQX Sortino Ratio Rank: 27
XQQQX Omega Ratio Rank: 31
XQQQX Calmar Ratio Rank: 24
XQQQX Martin Ratio Rank: 33

NVHIX

NVHIX Risk / Return Rank: 65
NVHIX Sharpe Ratio Rank: 64
NVHIX Sortino Ratio Rank: 84
NVHIX Omega Ratio Rank: 91
NVHIX Calmar Ratio Rank: 54
NVHIX Martin Ratio Rank: 32

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.

XQQQX vs. NVHIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen NASDAQ 100 Dynamic Overwrite Fund (XQQQX) and Nuveen Short Duration High Yield Municipal Bond Fund (NVHIX). 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.

	XQQQX	NVHIX	Difference
Sharpe ratio: Return per unit of total volatility	1.44	2.16	-0.72
Sortino ratio: Return per unit of downside risk	2.02	3.70	-1.69
Omega ratio: Gain probability vs. loss probability	1.27	1.63	-0.36
Calmar ratio: Return relative to maximum drawdown	1.67	2.69	-1.01
Martin ratio: Return relative to average drawdown	7.11	6.79	+0.32

XQQQX vs. NVHIX - Sharpe Ratio Comparison

The current XQQQX Sharpe Ratio is 1.44, which is lower than the NVHIX Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of XQQQX and NVHIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

XQQQX vs. NVHIX - Drawdown Comparison

The maximum XQQQX drawdown since its inception was -55.29%, which is greater than NVHIX's maximum drawdown of -13.54%. Use the drawdown chart below to compare losses from any high point for XQQQX and NVHIX.

Drawdown Indicators

	XQQQX	NVHIX	Difference
Max Drawdown Largest peak-to-trough decline	-55.29%	-13.54%	-41.75%
Max Drawdown (1Y) Largest decline over 1 year	-12.18%	-1.80%	-10.38%
Max Drawdown (3Y) Largest decline over 3 years	-21.59%	-4.72%	-16.87%
Max Drawdown (5Y) Largest decline over 5 years	-30.26%	-10.54%	-19.72%
Max Drawdown (10Y) Largest decline over 10 years	-30.26%	-13.54%	-16.72%
Current Drawdown Current decline from peak	-3.24%	0.00%	-3.24%
Average Drawdown Average peak-to-trough decline	-14.88%	-2.04%	-12.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.72%	0.71%	+2.01%

Volatility

XQQQX vs. NVHIX - Volatility Comparison

Nuveen NASDAQ 100 Dynamic Overwrite Fund (XQQQX) has a higher volatility of 4.95% compared to Nuveen Short Duration High Yield Municipal Bond Fund (NVHIX) at 0.59%. This indicates that XQQQX's price experiences larger fluctuations and is considered to be riskier than NVHIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XQQQX	NVHIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.95%	0.59%	+4.36%
Volatility (6M) Calculated over the trailing 6-month period	12.05%	1.49%	+10.56%
Volatility (1Y) Calculated over the trailing 1-year period	14.12%	2.24%	+11.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.00%	3.33%	+15.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.25%	3.47%	+15.78%

XQQQX vs. NVHIX - Expense Ratio Comparison

XQQQX has a 0.92% expense ratio, which is higher than NVHIX's 0.55% expense ratio.

Dividends

XQQQX vs. NVHIX - Dividend Comparison

XQQQX has not paid dividends to shareholders, while NVHIX's dividend yield for the trailing twelve months is around 4.55%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NVHIX Nuveen Short Duration High Yield Municipal Bond Fund	4.55%	5.15%	4.36%	4.41%	3.84%	3.43%	3.90%	4.03%	3.90%	3.78%	3.62%	3.55%
XQQQX Nuveen NASDAQ 100 Dynamic Overwrite Fund	0.00%	3.62%	6.19%	6.81%	10.06%	6.05%	5.93%	4.93%	2.29%	0.14%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XQQQX and NVHIX in my portfolio?

XQQQX and NVHIX have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XQQQX or NVHIX?

XQQQX has higher volatility (4.95%) compared to NVHIX (0.59%). In terms of maximum drawdown, XQQQX dropped -55.29% vs NVHIX's -13.54%.

Which has better risk-adjusted returns?

NVHIX currently has the higher Sharpe Ratio (2.16 vs 1.44), 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.