Western Asset High Income Opportunity Fund (HIO) vs Nuveen California AMT-Free Quality Municipal Income Fund (NKX)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
On valuation, Western Asset High Income Opportunity Fund trades at a lower trailing P/E (13.6x vs 24.4x for Nuveen California AMT-Free Quality Municipal Income Fund). Western Asset High Income Opportunity Fund offers the higher dividend yield (13.07% vs 8.69%).
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | HIO | NKX |
|---|---|---|
| Share price | $3.26 | $10.50 |
| Market cap | — | $591.21M |
| 1-day change | +0.62% | +0.92% |
| P/E ratio (TTM) | 13.58 | 24.41 |
| EPS (TTM) | $0.24 | $0.43 |
| Dividend yield | 13.07% | 8.69% |
| Annual dividend | $0.426 | $0.912 |
| 52-week high | $3.89 | $13.20 |
| 52-week low | $3.24 | $10.30 |
| Distance from 52-week high | -16.19% | -20.49% |
| Average volume | 449.40K | 215.11K |
| Shares outstanding | — | 56.33M |
| Sector | Finance | Finance |
| Industry | Finance/Investors Services | Finance/Investors Services |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- Nuveen California AMT-Free Quality Municipal Income Fund trades at a higher earnings multiple (24.4x vs 13.6x trailing P/E).
- Western Asset High Income Opportunity Fund offers a meaningfully higher dividend yield (13.07% vs 8.69%).
About Western Asset High Income Opportunity Fund
HIO stock →Western Asset High Income Opportunity Fund Inc. is a closed ended fixed-income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC.
Finance · Finance/Investors Services
About Nuveen California AMT-Free Quality Municipal Income Fund
NKX stock →Nuveen California AMT-Free Quality Municipal Income Fund is a closed ended fixed income mutual fund launched by Nuveen Investments, Inc. The fund is co-managed by Nuveen Asset Management, LLC and Nuveen Fund Advisors LLC.
Finance · Finance/Investors Services
HIO vs NKX FAQ
Which has the lower P/E ratio, HIO or NKX?
HIO has the lower trailing P/E at 13.6, versus 24.4 for NKX. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Western Asset High Income Opportunity Fund or Nuveen California AMT-Free Quality Municipal Income Fund?
Western Asset High Income Opportunity Fund has the higher yield at 13.07%, compared with 8.69% for Nuveen California AMT-Free Quality Municipal Income Fund.
Are Western Asset High Income Opportunity Fund and Nuveen California AMT-Free Quality Municipal Income Fund in the same industry?
Yes. Both are classified in the Finance/Investors Services industry within the Finance sector.