Is NCA or NCZ more undervalued in 2026?

CirclFi compares Nuveen California Municipal Val (NCA) and AllianzGI Convertible & Income (NCZ) using 13 institutional-grade valuation models. NCA has a Quality of Company score of 1.7/10 while NCZ scores 1.9/10.

Which is a better buy — NCA or NCZ?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do NCA and NCZ valuations compare?

NCA at $9.29 and NCZ at $15.89 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

NCA vs NCZ Valuation Comparison 2026 — Intrinsic Value Analysis

NCA

Asset Management

Nuveen California Municipal Val

Quality

1.7

out of 10

Value Trap

—

Price

$9.29

Last close

Models

8/13

Active

NCZ

Asset Management

AllianzGI Convertible & Income

Quality

1.9

out of 10

Value Trap

—

Price

$15.89

Last close

Models

10/13

Active

Model-by-Model Comparison

Model	Type	NCA Fair Value	NCA Upside	NCZ Fair Value	NCZ Upside
Bayesian DCF	Intrinsic	$2.46	-73.5%	$4.21	-73.5%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$8.78	-5.0%	$21.53	+37.1%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	—	—	$9.20	-39.4%

🔒

Unlock Full 13-Model Comparison

Access all valuation models for NCA vs NCZ — including EROIC Spread, First Chicago, Markov DDM, PWERM, and 7 more.

Access Full Analysis — From $27/mo →

NCA vs NCZ — Which Stock Is More Undervalued?

NCZ scores higher with a 1.9/10 quality rating vs NCA's 1.7/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Nuveen California Municipal Val (NCA) and AllianzGI Convertible & Income (NCZ) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

NCA currently trades at $9.29 with a QOC of 1.7/10, while NCZ trades at $15.89 with a QOC of 1.9/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).