FFLV vs NMI
FFLV vs NMI
Fidelity Fundamental Large Cap Value ETF vs Nuveen Municipal Income Fund Inc.
Quick Verdict
FFLV has a lower expense ratio. FFLV delivered stronger 1-year returns. FFLV offers more diversification with 105 holdings.
Side-by-Side Comparison
| Metric | FFLV | NMI | Winner |
|---|---|---|---|
| Expense Ratio | 0.38% | 0.73% | |
| AUM | $16M | - | |
| Dividend Yield | 1.41% | 4.57% | |
| Holdings | 119 | 220 | |
| YTD Return | +17.97% | +11.08% | |
| 1Y Return | +32.15% | +14.95% | |
| 3Y Return (annualized) | - | +9.79% | |
| 5Y Return (annualized) | - | +2.16% | |
| Volatility (annualized) | 12.3% | 11.0% | |
| Max Drawdown | -16.7% | -34.4% | |
| Fund Family | Fidelity Investments (US) | Nuveen | |
| Category | Equity | Tax Preferred | |
| Inception | Feb 9, 2024 | Apr 20, 1988 |
FFLV vs NMI Performance
Fidelity Fundamental Large Cap Value ETF (FFLV) is a ETF from Fidelity Investments (US) and Nuveen Municipal Income Fund Inc. (NMI) is a ETF from Nuveen. Over the past year FFLV returned +32.15% while NMI returned +14.95%. Year to date, FFLV is up 17.97% versus a gain of 11.08% for NMI.
Risk: Volatility and Drawdowns
FFLV has been the more volatile fund, with annualized monthly volatility of 12.3% 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 -16.7% for FFLV 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 0.03. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
FFLV charges 0.38% per year while NMI charges 0.73%. On a $10,000 position that is $38 vs $73 annually, a gap of $35 per year that compounds over a long holding period. On income, FFLV currently yields 1.41% against 4.57% for NMI.
Holdings Overlap
FFLV and NMI share 0 holdings out of 200 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, FFLV or NMI?
FFLV has an expense ratio of 0.38% while NMI charges 0.73%. FFLV is the cheaper option. On a $10,000 investment, that is $35 per year of difference.
Which performed better, FFLV or NMI?
Over the past year FFLV returned +32.15% vs +14.95% for NMI, so FFLV leads on 1-year performance. Over the longest common window we track (2 years), FFLV annualized +17.62% vs +0.38% for NMI. Past performance does not guarantee future results.
Which is riskier, FFLV or NMI?
FFLV has been the more volatile fund at 12.3% annualized versus 11.0% for NMI. Worst drawdown: FFLV -16.7% vs NMI -34.4%.
Should I hold both FFLV and NMI?
FFLV and NMI have a monthly-return correlation of 0.03, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FFLV and NMI?
FFLV and NMI share 0 common holdings with a 0.0% weight overlap. Combined, they hold 200 unique securities.
Which pays a higher dividend, FFLV or NMI?
FFLV yields 1.41% while NMI yields 4.57%, so NMI currently pays the higher dividend yield.
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