NMT vs PBTP

Comparison between Nuveen Massachusetts Quality Municipal Income Fund (NMT, ETF) and INVESCO 0-5 YR US TIPS ETF (PBTP, ETF).

5-Year PerformancePBTP has outperformed NMT, delivering a return of +3.1% compared to +1.5%

NMT vs PBTP - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	NMT(ETF)	PBTP(ETF)
Net Assets	$116M	$116M
Expense Ratio	N/A	0.07%
Max Drawdown	48.99%	9.90%
Sharpe Ratio	1.45	-0.69
5Y Beta	0.16	-0.01
5Y Dividends CAGR	8.52%	27.17%

Net Assets

NMT

$116M

Winner

PBTP

$116M

Expense Ratio

NMT

N/A

PBTP

0.07%

Max Drawdown

NMT

48.99%

Winner

PBTP

9.90%

Sharpe Ratio

Winner

NMT

1.45

PBTP

-0.69

5Y Beta

NMT

0.16

Winner

PBTP

-0.01

5Y Dividends CAGR

NMT

8.52%

Winner

PBTP

27.17%

NMT vs PBTP - Historical Returns

Returns include dividend reinvestment.

Period	NMT	PBTP
1 month	+0.40%	+0.51%
3 months	+2.56%	+0.41%
6 months	+11.03%	+1.53%
1 year	+21.66%	+2.84%
5 years(CAGR)	+1.50%	+3.13%
10 years(CAGR)	+2.67%	+3.35%
Max(CAGR)	+4.59%	+3.35%

NMT

+0.40%

Winner

PBTP

+0.51%

Winner

NMT

+2.56%

PBTP

+0.41%

Winner

NMT

+11.03%

PBTP

+1.53%

Winner

NMT

+21.66%

PBTP

+2.84%

5Y(CAGR)

NMT

+1.50%

Winner

PBTP

+3.13%

10Y(CAGR)

NMT

+2.67%

Winner

PBTP

+3.35%

Max(CAGR)

Winner

NMT

+4.59%

PBTP

+3.35%

NMT vs PBTP - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	NMT	PBTP
2026	+17.21%	+2.24%
2025	+5.85%	+5.90%
2024	+16.17%	+4.79%
2023	+1.52%	+4.57%
2022	-30.75%	-3.02%
2021	+9.84%	+5.41%
2020	+6.18%	+4.75%
2019	+23.70%	+4.74%
2018	-14.40%	+0.59%
2017	+13.61%	+0.04%
2016	+0.05%	N/A
2015	+8.91%	N/A
2014	+15.06%	N/A
2013	-16.13%	N/A
2012	+6.26%	N/A
2011	+17.17%	N/A
2010	+4.45%	N/A
2009	+43.04%	N/A
2008	-20.35%	N/A
2007	-7.15%	N/A
2006	-3.17%	N/A
2005	+3.83%	N/A
2004	+8.22%	N/A
2003	+4.73%	N/A
2002	+6.23%	N/A
2001	+12.45%	N/A
2000	+10.29%	N/A
1999	-6.15%	N/A

NMT vs PBTP Drawdown Comparison

The maximum drawdown for NMT was -40.09%, occurring on Oct 10, 2008. Recovery took 895 trading sessions.

The maximum drawdown for PBTP was -5.44%, occurring on Sep 30, 2022. Recovery took 443 trading sessions.

The current NMT drawdown is -2.80%.

Rank	NMT	PBTP
#1	-40.09% Mar 2, 2006 - Sep 21, 2009	-5.44% Mar 11, 2022 - Dec 14, 2023
#2	-38.87% Nov 22, 2021 - May 1, 2026	-5.35% Mar 5, 2020 - Jun 8, 2020
#3	-21.46% Jan 24, 2013 - Dec 3, 2015	-2.18% Nov 17, 2021 - Mar 1, 2022
#4	-20.51% Jul 25, 2016 - Aug 1, 2019	-1.04% Nov 15, 2018 - Jan 31, 2019
#5	-18.20% Oct 21, 2010 - Jan 5, 2012	-1.03% Apr 30, 2025 - Jun 26, 2025
#6	-17.05% Jan 24, 2020 - Jul 10, 2020	-1.00% Apr 3, 2025 - Apr 28, 2025
#7	-16.42% Jun 4, 2003 - Mar 31, 2004	-0.97% Aug 24, 2018 - Nov 15, 2018
#8	-15.35% Feb 15, 2005 - Sep 7, 2005	-0.81% Sep 24, 2024 - Jan 15, 2025
#9	-13.69% Mar 31, 2004 - Oct 27, 2004	-0.75% Jun 2, 2026 - Aug 20, 2026
#10	-9.72% Nov 3, 1999 - Jul 27, 2000	-0.68% Jan 31, 2024 - Mar 1, 2024
#11	-8.85% Oct 7, 2009 - Mar 4, 2010	-0.66% Mar 17, 2026 - Apr 7, 2026
#12	-8.72% Feb 13, 2012 - May 2, 2012	-0.63% Aug 3, 2021 - Aug 27, 2021
#13	-8.29% Oct 8, 2002 - Mar 11, 2003	-0.63% May 18, 2021 - Jul 2, 2021
#14	-7.58% Oct 15, 2012 - Jan 17, 2013	-0.60% Feb 12, 2021 - Mar 2, 2021
#15	-7.49% Sep 7, 2005 - Feb 28, 2006	-0.53% Oct 22, 2025 - Jan 7, 2026

Correlation

Correlation between NMT and PBTP is 0.55 which considered as a moderate positive correlation - the stocks show some tendency to move together.

0.55

-101

Dividend Comparison (1999 - 2026)

NMT vs PBTP dividend yield comparison.

Year	NMT	PBTP
2026	3.94%	2.77%
2025	7.27%	3.82%
2024	5.94%	2.59%
2023	3.06%	2.36%
2022	4.50%	5.33%
2021	3.43%	3.12%
2020	3.60%	1.25%
2019	3.46%	2.12%
2018	4.66%	2.33%
2017	4.57%	0.73%
2016	5.30%	0.00%
2015	5.15%	0.00%
2014	5.05%	0.00%
2013	5.63%	0.00%
2012	4.93%	0.00%
2011	5.24%	0.00%
2010	6.12%	0.00%
2009	5.31%	0.00%
2008	6.87%	0.00%
2007	5.04%	0.00%
2006	5.10%	0.00%
2005	5.67%	0.00%
2004	5.64%	0.00%
2003	6.12%	0.00%
2002	5.39%	0.00%
2001	6.16%	0.00%
2000	5.75%	0.00%
1999	1.00%	0.00%