GLOW vs NMI
VictoryShares WestEnd Global Equity ETF vs Nuveen Municipal Income Fund Inc.
Quick Verdict
GLOW has a lower expense ratio. GLOW delivered stronger 1-year returns. NMI offers more diversification with 95 holdings.
Side-by-Side Comparison
| Metric | GLOW | NMI | Winner |
|---|---|---|---|
| Expense Ratio | 0.72% | 0.73% | |
| AUM | $63M | - | |
| Dividend Yield | 1.28% | 4.57% | |
| Holdings | 16 | 220 | |
| YTD Return | +15.25% | +8.64% | |
| 1Y Return | +23.92% | +11.82% | |
| 3Y Return (annualized) | - | +8.97% | |
| 5Y Return (annualized) | - | +1.70% | |
| Volatility (annualized) | 10.8% | 11.0% | |
| Max Drawdown | -15.6% | -34.4% | |
| Fund Family | Victory Capital Management Inc. | Nuveen | |
| Category | Equity | Tax Preferred | |
| Inception | Jun 21, 2024 | Apr 20, 1988 |
GLOW vs NMI Performance
VictoryShares WestEnd Global Equity ETF (GLOW) is a ETF from Victory Capital Management Inc. and Nuveen Municipal Income Fund Inc. (NMI) is a ETF from Nuveen. Over the past year GLOW returned +23.92% while NMI returned +11.82%. Year to date, GLOW is up 15.25% versus a gain of 8.64% for NMI.
Risk: Volatility and Drawdowns
NMI has been the more volatile fund, with annualized monthly volatility of 11.0% compared with 10.8% for GLOW. 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 -15.6% for GLOW 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 0.04. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GLOW charges 0.72% per year while NMI charges 0.73%. On a $10,000 position that is $72 vs $73 annually, a gap of $1 per year that compounds over a long holding period. On income, GLOW currently yields 1.28% against 4.57% for NMI.
Holdings Overlap
GLOW and NMI share 0 holdings out of 110 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, GLOW or NMI?
GLOW has an expense ratio of 0.72% while NMI charges 0.73%. GLOW is the cheaper option. On a $10,000 investment, that is $1 per year of difference.
Which performed better, GLOW or NMI?
Over the past year GLOW returned +23.92% vs +11.82% for NMI, so GLOW leads on 1-year performance. Over the longest common window we track (2 years), GLOW annualized +20.06% vs +0.30% for NMI. Past performance does not guarantee future results.
Which is riskier, GLOW or NMI?
NMI has been the more volatile fund at 11.0% annualized versus 10.8% for GLOW. Worst drawdown: GLOW -15.6% vs NMI -34.4%.
Should I hold both GLOW and NMI?
GLOW and NMI have a monthly-return correlation of 0.04, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GLOW and NMI?
GLOW and NMI share 0 common holdings with a 0.0% weight overlap. Combined, they hold 110 unique securities.
Which pays a higher dividend, GLOW or NMI?
GLOW yields 1.28% while NMI yields 4.57%, so NMI currently pays the higher dividend yield.
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