FTKI vs NMI
First Trust Small Cap BuyWrite Income ETF vs Nuveen Municipal Income Fund Inc.
Quick Verdict
NMI has a lower expense ratio. FTKI delivered stronger 1-year returns. FTKI offers more diversification with 144 holdings.
Side-by-Side Comparison
| Metric | FTKI | NMI | Winner |
|---|---|---|---|
| Expense Ratio | 0.85% | 0.73% | |
| AUM | $25M | - | |
| Dividend Yield | 12.53% | 4.57% | |
| Holdings | 170 | 220 | |
| YTD Return | +13.28% | +10.41% | |
| 1Y Return | +21.74% | +14.14% | |
| 3Y Return (annualized) | - | +9.57% | |
| 5Y Return (annualized) | - | +1.91% | |
| Volatility (annualized) | 10.3% | 11.0% | |
| Max Drawdown | -15.2% | -34.4% | |
| Fund Family | First Trust Portfolios (US) | Nuveen | |
| Category | Equity | Tax Preferred | |
| Inception | Feb 26, 2025 | Apr 20, 1988 |
FTKI vs NMI Performance
First Trust Small Cap BuyWrite Income ETF (FTKI) is a ETF from First Trust Portfolios (US) and Nuveen Municipal Income Fund Inc. (NMI) is a ETF from Nuveen. Over the past year FTKI returned +21.74% while NMI returned +14.14%. Year to date, FTKI is up 13.28% versus a gain of 10.41% for NMI.
Risk: Volatility and Drawdowns
NMI has been the more volatile fund, with annualized monthly volatility of 11.0% compared with 10.3% for FTKI. 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 -15.2% for FTKI 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 -0.11. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
FTKI charges 0.85% per year while NMI charges 0.73%. On a $10,000 position that is $85 vs $73 annually, a gap of $12 per year that compounds over a long holding period. On income, FTKI currently yields 12.53% against 4.57% for NMI.
Holdings Overlap
FTKI and NMI share 0 holdings out of 239 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, FTKI or NMI?
FTKI has an expense ratio of 0.85% while NMI charges 0.73%. NMI is the cheaper option. On a $10,000 investment, that is $12 per year of difference.
Which performed better, FTKI or NMI?
Over the past year FTKI returned +21.74% vs +14.14% for NMI, so FTKI leads on 1-year performance. Over the longest common window we track (2 years), FTKI annualized +12.78% vs +0.36% for NMI. Past performance does not guarantee future results.
Which is riskier, FTKI or NMI?
NMI has been the more volatile fund at 11.0% annualized versus 10.3% for FTKI. Worst drawdown: FTKI -15.2% vs NMI -34.4%.
Should I hold both FTKI and NMI?
FTKI and NMI have a monthly-return correlation of -0.11, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FTKI and NMI?
FTKI and NMI share 0 common holdings with a 0.0% weight overlap. Combined, they hold 239 unique securities.
Which pays a higher dividend, FTKI or NMI?
FTKI yields 12.53% while NMI yields 4.57%, so FTKI currently pays the higher dividend yield.
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