JMM vs VTI
Nuveen Multi-Market Income Fund vs Vanguard Morningstar Total Stock Market ETF
Quick Verdict
VTI has a lower expense ratio. VTI delivered stronger 1-year returns. VTI offers more diversification with 3,543 holdings.
Side-by-Side Comparison
| Metric | JMM | VTI | Winner |
|---|---|---|---|
| Expense Ratio | 1.58% | 0.03% | |
| AUM | - | $666.9B | |
| Dividend Yield | 5.46% | 1.07% | |
| Holdings | 310 | 3,543 | |
| YTD Return | -0.56% | +13.14% | |
| 1Y Return | -2.33% | +22.35% | |
| 3Y Return (annualized) | +5.77% | +21.83% | |
| 5Y Return (annualized) | +0.62% | +12.01% | |
| Volatility (annualized) | 9.9% | 15.3% | |
| Max Drawdown | -53.8% | -56.6% | |
| Fund Family | Nuveen | Vanguard (US) | |
| Category | Fixed Income | Equity | |
| Inception | Dec 30, 1988 | May 24, 2001 |
JMM vs VTI Performance
Nuveen Multi-Market Income Fund (JMM) is a ETF from Nuveen and Vanguard Morningstar Total Stock Market ETF (VTI) is a ETF from Vanguard (US). Over the past year JMM returned -2.33% while VTI returned +22.35%. Year to date, JMM is down 0.56% versus a gain of 13.14% for VTI.
Over three years, JMM compounded at +5.77% per year against +21.83% for VTI; over five years the annualized figures are +0.62% and +12.01% respectively. Across the full 25-year window we track, VTI has the edge at +8.09% annualized vs -0.40%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VTI has been the more volatile fund, with annualized monthly volatility of 15.3% 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 -56.6% for VTI. 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 0.41. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
JMM charges 1.58% per year while VTI 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 5.46% against 1.07% for VTI.
Holdings Overlap
JMM and VTI share 0 holdings out of 2802 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 VTI?
JMM has an expense ratio of 1.58% while VTI charges 0.03%. VTI is the cheaper option. On a $10,000 investment, that is $155 per year of difference.
Which performed better, JMM or VTI?
Over the past year JMM returned -2.33% vs +22.35% for VTI, so VTI leads on 1-year performance. Over the longest common window we track (25 years), JMM annualized -0.40% vs +8.09% for VTI. Past performance does not guarantee future results.
Which is riskier, JMM or VTI?
VTI has been the more volatile fund at 15.3% annualized versus 9.9% for JMM. Worst drawdown: JMM -53.8% vs VTI -56.6%.
Should I hold both JMM and VTI?
JMM and VTI have a monthly-return correlation of 0.41, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between JMM and VTI?
JMM and VTI share 0 common holdings with a 0.0% weight overlap. Combined, they hold 2802 unique securities.
Which pays a higher dividend, JMM or VTI?
JMM yields 5.46% while VTI yields 1.07%, so JMM currently pays the higher dividend yield.
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