JMM vs VOO
Nuveen Multi-Market Income Fund vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | JMM | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 1.58% | 0.03% | |
| AUM | - | $979.0B | |
| Dividend Yield | 5.35% | 1.09% | |
| Holdings | 310 | 509 | |
| YTD Return | -0.08% | +14.48% | |
| 1Y Return | -2.80% | +22.02% | |
| 3Y Return (annualized) | +5.75% | +21.80% | |
| 5Y Return (annualized) | +0.64% | +13.36% | |
| Volatility (annualized) | 9.9% | 14.2% | |
| Max Drawdown | -53.8% | -34.3% | |
| Fund Family | Nuveen | Vanguard (US) | |
| Category | Fixed Income | Equity | |
| Inception | Dec 30, 1988 | Sep 7, 2010 |
JMM vs VOO Performance
Nuveen Multi-Market Income Fund (JMM) is a ETF from Nuveen and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year JMM returned -2.80% while VOO returned +22.02%. Year to date, JMM is down 0.08% versus a gain of 14.48% for VOO.
Over three years, JMM compounded at +5.75% per year against +21.80% for VOO; over five years the annualized figures are +0.64% and +13.36% respectively. Across the full 16-year window we track, VOO has the edge at +13.61% annualized vs -0.38%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 14.2% 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 -34.3% for VOO. 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 0.56. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
JMM charges 1.58% per year while VOO charges 0.03%. On a $10,000 position that is $158 vs $3 annually, a gap of $155 per year that compounds over a long holding period. On income, JMM currently yields 5.35% against 1.09% for VOO.
Holdings Overlap
JMM and VOO share 0 holdings out of 520 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 VOO?
JMM has an expense ratio of 1.58% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $155 per year of difference.
Which performed better, JMM or VOO?
Over the past year JMM returned -2.80% vs +22.02% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), JMM annualized -0.38% vs +13.61% for VOO. Past performance does not guarantee future results.
Which is riskier, JMM or VOO?
VOO has been the more volatile fund at 14.2% annualized versus 9.9% for JMM. Worst drawdown: JMM -53.8% vs VOO -34.3%.
Should I hold both JMM and VOO?
JMM and VOO have a monthly-return correlation of 0.56, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between JMM and VOO?
JMM and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 520 unique securities.
Which pays a higher dividend, JMM or VOO?
JMM yields 5.35% while VOO yields 1.09%, so JMM currently pays the higher dividend yield.
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