ELCV vs NMI
Eventide High Dividend ETF vs Nuveen Municipal Income Fund Inc.
Quick Verdict
ELCV has a lower expense ratio. ELCV delivered stronger 1-year returns. NMI offers more diversification with 95 holdings.
Side-by-Side Comparison
| Metric | ELCV | NMI | Winner |
|---|---|---|---|
| Expense Ratio | 0.49% | 0.73% | |
| AUM | $251M | - | |
| Dividend Yield | 2.06% | 4.57% | |
| Holdings | 47 | 220 | |
| YTD Return | +21.26% | +11.00% | |
| 1Y Return | +27.07% | +14.29% | |
| 3Y Return (annualized) | - | +9.76% | |
| 5Y Return (annualized) | - | +2.10% | |
| Volatility (annualized) | 13.9% | 11.0% | |
| Max Drawdown | -18.4% | -34.4% | |
| Fund Family | Eventide | Nuveen | |
| Category | Equity | Tax Preferred | |
| Inception | Sep 30, 2024 | Apr 20, 1988 |
ELCV vs NMI Performance
Eventide High Dividend ETF (ELCV) is a ETF from Eventide and Nuveen Municipal Income Fund Inc. (NMI) is a ETF from Nuveen. Over the past year ELCV returned +27.07% while NMI returned +14.29%. Year to date, ELCV is up 21.26% versus a gain of 11.00% for NMI.
Risk: Volatility and Drawdowns
ELCV has been the more volatile fund, with annualized monthly volatility of 13.9% compared with 11.0% for NMI. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -18.4% for ELCV and -34.4% for NMI. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.13. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
ELCV charges 0.49% per year while NMI charges 0.73%. On a $10,000 position that is $49 vs $73 annually, a gap of $24 per year that compounds over a long holding period. On income, ELCV currently yields 2.06% against 4.57% for NMI.
Holdings Overlap
ELCV and NMI share 0 holdings out of 141 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, ELCV or NMI?
ELCV has an expense ratio of 0.49% while NMI charges 0.73%. ELCV is the cheaper option. On a $10,000 investment, that is $24 per year of difference.
Which performed better, ELCV or NMI?
Over the past year ELCV returned +27.07% vs +14.29% for NMI, so ELCV leads on 1-year performance. Over the longest common window we track (2 years), ELCV annualized +16.47% vs +0.37% for NMI. Past performance does not guarantee future results.
Which is riskier, ELCV or NMI?
ELCV has been the more volatile fund at 13.9% annualized versus 11.0% for NMI. Worst drawdown: ELCV -18.4% vs NMI -34.4%.
Should I hold both ELCV and NMI?
ELCV and NMI have a monthly-return correlation of 0.13, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ELCV and NMI?
ELCV and NMI share 0 common holdings with a 0.0% weight overlap. Combined, they hold 141 unique securities.
Which pays a higher dividend, ELCV or NMI?
ELCV yields 2.06% while NMI yields 4.57%, so NMI currently pays the higher dividend yield.
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