JMM vs SCHD
Nuveen Multi-Market Income Fund vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. SCHD offers more diversification with 100 holdings.
Side-by-Side Comparison
| Metric | JMM | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 1.58% | 0.06% | |
| AUM | - | $103.7B | |
| Dividend Yield | 5.35% | 3.31% | |
| Holdings | 310 | 104 | |
| YTD Return | -0.03% | +25.62% | |
| 1Y Return | -3.99% | +32.62% | |
| 3Y Return (annualized) | +5.78% | +15.58% | |
| 5Y Return (annualized) | +0.43% | +9.63% | |
| Volatility (annualized) | 9.9% | 13.6% | |
| Max Drawdown | -53.8% | -33.4% | |
| Fund Family | Nuveen | Charles Schwab Asset Management | |
| Category | Fixed Income | Equity | |
| Inception | Dec 30, 1988 | Oct 20, 2011 |
JMM vs SCHD Performance
Nuveen Multi-Market Income Fund (JMM) is a ETF from Nuveen and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year JMM returned -3.99% while SCHD returned +32.62%. Year to date, JMM is down 0.03% versus a gain of 25.62% for SCHD.
Over three years, JMM compounded at +5.78% per year against +15.58% for SCHD; over five years the annualized figures are +0.43% and +9.63% respectively. Across the full 15-year window we track, SCHD has the edge at +11.47% annualized vs -0.38%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 13.6% compared with 9.9% for JMM. 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 -53.8% for JMM and -33.4% for SCHD. 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 0.54. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
JMM charges 1.58% per year while SCHD charges 0.06%. On a $10,000 position that is $158 vs $6 annually, a gap of $152 per year that compounds over a long holding period. On income, JMM currently yields 5.35% against 3.31% for SCHD.
Holdings Overlap
JMM and SCHD share 0 holdings out of 115 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, JMM or SCHD?
JMM has an expense ratio of 1.58% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $152 per year of difference.
Which performed better, JMM or SCHD?
Over the past year JMM returned -3.99% vs +32.62% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), JMM annualized -0.38% vs +11.47% for SCHD. Past performance does not guarantee future results.
Which is riskier, JMM or SCHD?
SCHD has been the more volatile fund at 13.6% annualized versus 9.9% for JMM. Worst drawdown: JMM -53.8% vs SCHD -33.4%.
Should I hold both JMM and SCHD?
JMM and SCHD have a monthly-return correlation of 0.54, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between JMM and SCHD?
JMM and SCHD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 115 unique securities.
Which pays a higher dividend, JMM or SCHD?
JMM yields 5.35% while SCHD yields 3.31%, so JMM currently pays the higher dividend yield.
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