NZF vs VRP

Comparison between Nuveen Municipal Credit Income Fund (NZF, ETF) and INVESCO VARIABLE RATE PREFERRED ETF (VRP, ETF).

5-Year PerformanceVRP has outperformed NZF, delivering a return of +4.5% compared to +0.3%

NZF vs VRP - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	NZF(ETF)	VRP(ETF)
Net Assets	$2.40B	$2.40B
Expense Ratio	N/A	0.50%
Max Drawdown	53.68%	46.22%
Sharpe Ratio	0.99	1.57
5Y Beta	0.25	0.16
5Y Dividends CAGR	5.94%	6.90%

Net Assets

NZF

$2.40B

VRP

$2.40B

Expense Ratio

NZF

N/A

VRP

0.50%

Max Drawdown

NZF

53.68%

Winner

VRP

46.22%

Sharpe Ratio

NZF

0.99

Winner

VRP

1.57

5Y Beta

NZF

0.25

Winner

VRP

0.16

5Y Dividends CAGR

NZF

5.94%

Winner

VRP

6.90%

NZF vs VRP - Historical Returns

Returns include dividend reinvestment.

Period	NZF	VRP
1 month	+2.00%	+0.71%
3 months	-0.15%	+0.89%
6 months	+4.82%	+2.61%
1 year	+14.04%	+8.40%
5 years(CAGR)	+0.27%	+4.46%
10 years(CAGR)	+3.83%	+5.46%
Max(CAGR)	+5.44%	+5.11%

Winner

NZF

+2.00%

VRP

+0.71%

NZF

-0.15%

Winner

VRP

+0.89%

Winner

NZF

+4.82%

VRP

+2.61%

Winner

NZF

+14.04%

VRP

+8.40%

5Y(CAGR)

NZF

+0.27%

Winner

VRP

+4.46%

10Y(CAGR)

NZF

+3.83%

Winner

VRP

+5.46%

Max(CAGR)

Winner

NZF

+5.44%

VRP

+5.11%

NZF vs VRP - Annual Returns (2001 - 2026)

Returns include dividend reinvestment.

Year	NZF	VRP
2026	+2.78%	+1.68%
2025	+10.22%	+7.07%
2024	+9.27%	+11.29%
2023	+0.81%	+10.49%
2022	-25.42%	-9.00%
2021	+12.24%	+4.93%
2020	+4.20%	+4.79%
2019	+25.44%	+18.32%
2018	-6.42%	-6.37%
2017	+13.98%	+8.94%
2016	+4.29%	+6.93%
2015	+9.73%	+2.65%
2014	+17.83%	+1.81%
2013	-14.78%	N/A
2012	+9.39%	N/A
2011	+18.65%	N/A
2010	+5.85%	N/A
2009	+35.91%	N/A
2008	-22.21%	N/A
2007	-10.97%	N/A
2006	+14.46%	N/A
2005	+11.74%	N/A
2004	+6.26%	N/A
2003	+12.36%	N/A
2002	+5.43%	N/A
2001	-9.18%	N/A

NZF vs VRP Drawdown Comparison

The maximum drawdown for NZF was -48.48%, occurring on Oct 10, 2008. Recovery took 678 trading sessions.

The maximum drawdown for VRP was -46.04%, occurring on Mar 18, 2020. Recovery took 193 trading sessions.

The current NZF drawdown is -3.89%.

Rank	NZF	VRP
#1	-48.48% Dec 27, 2006 - Sep 8, 2009	-46.04% Feb 12, 2020 - Nov 16, 2020
#2	-37.40% Nov 9, 2021 - Oct 25, 2023	-13.76% Sep 22, 2021 - Jan 10, 2024
#3	-29.81% Feb 21, 2020 - Dec 31, 2020	-9.04% Aug 31, 2018 - Mar 1, 2019
#4	-24.09% Nov 23, 2012 - Jan 30, 2015	-7.54% Apr 24, 2015 - Apr 22, 2016
#5	-15.42% Sep 1, 2010 - Sep 12, 2011	-5.38% Sep 6, 2016 - Feb 7, 2017
#6	-15.12% Mar 9, 2004 - Nov 3, 2004	-4.26% Feb 28, 2025 - May 16, 2025
#7	-13.69% Jul 8, 2016 - Jul 28, 2017	-2.89% Feb 24, 2026 - Apr 20, 2026
#8	-10.58% Sep 10, 2018 - Feb 27, 2019	-2.43% Oct 23, 2017 - Aug 31, 2018
#9	-10.37% Oct 3, 2001 - Aug 29, 2002	-1.88% Jul 18, 2024 - Aug 15, 2024
#10	-8.44% Oct 7, 2002 - Apr 21, 2003	-1.72% Mar 22, 2024 - May 2, 2024
#11	-8.36% Jun 12, 2003 - Jan 7, 2004	-1.71% Aug 29, 2014 - Jan 26, 2015
#12	-8.23% Sep 6, 2005 - Jan 5, 2006	-1.67% Feb 9, 2021 - Mar 31, 2021
#13	-8.01% Dec 7, 2017 - Sep 5, 2018	-1.55% Jan 3, 2025 - Feb 5, 2025
#14	-7.98% Oct 7, 2009 - Jan 29, 2010	-1.41% Feb 27, 2017 - Mar 30, 2017
#15	-7.16% Feb 2, 2015 - Dec 8, 2015	-1.41% Aug 3, 2017 - Oct 23, 2017

Correlation

Correlation between NZF and VRP is 0.84 which considered as a strong positive correlation - the stocks tend to move together.

0.84

-101

Dividend Comparison (2001 - 2026)

NZF vs VRP dividend yield comparison.

Year	NZF	VRP
2026	2.51%	1.63%
2025	7.58%	6.53%
2024	6.84%	5.78%
2023	4.51%	6.61%
2022	5.80%	5.38%
2021	4.63%	4.25%
2020	4.74%	4.17%
2019	4.82%	4.71%
2018	6.05%	5.28%
2017	5.86%	4.69%
2016	6.26%	5.10%
2015	5.50%	5.02%
2014	5.32%	3.04%
2013	5.88%	0.00%
2012	5.73%	0.00%
2011	6.39%	0.00%
2010	7.37%	0.00%
2009	6.33%	0.00%
2008	7.81%	0.00%
2007	6.05%	0.00%
2006	5.66%	0.00%
2005	6.38%	0.00%
2004	6.81%	0.00%
2003	6.58%	0.00%
2002	6.65%	0.00%
2001	1.11%	0.00%