NAC vs VTI
Nuveen California Quality Municipal 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 | NAC | VTI | Winner |
|---|---|---|---|
| Expense Ratio | 3.79% | 0.03% | |
| AUM | - | $666.9B | |
| Dividend Yield | 7.75% | 1.07% | |
| Holdings | 346 | 3,543 | |
| YTD Return | +3.62% | +12.65% | |
| 1Y Return | +13.43% | +21.39% | |
| 3Y Return (annualized) | +11.60% | +21.54% | |
| 5Y Return (annualized) | -0.47% | +12.11% | |
| Volatility (annualized) | 13.0% | 15.3% | |
| Max Drawdown | -53.7% | -56.6% | |
| Fund Family | Nuveen | Vanguard (US) | |
| Category | Tax Preferred | Equity | |
| Inception | May 26, 1999 | May 24, 2001 |
NAC vs VTI Performance
Nuveen California Quality Municipal Income Fund (NAC) is a ETF from Nuveen and Vanguard Morningstar Total Stock Market ETF (VTI) is a ETF from Vanguard (US). Over the past year NAC returned +13.43% while VTI returned +21.39%. Year to date, NAC is up 3.62% versus a gain of 12.65% for VTI.
Over three years, NAC compounded at +11.60% per year against +21.54% for VTI; over five years the annualized figures are -0.47% and +12.11% respectively. Across the full 25-year window we track, VTI has the edge at +8.07% annualized vs +0.23%. 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 13.0% for NAC. 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 -53.7% for NAC 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 0.24. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
NAC charges 3.79% per year while VTI charges 0.03%. On a $10,000 position that is $379 vs $3 annually, a gap of $376 per year that compounds over a long holding period. On income, NAC currently yields 7.75% against 1.07% for VTI.
Holdings Overlap
NAC and VTI share 0 holdings out of 2927 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, NAC or VTI?
NAC has an expense ratio of 3.79% while VTI charges 0.03%. VTI is the cheaper option. On a $10,000 investment, that is $376 per year of difference.
Which performed better, NAC or VTI?
Over the past year NAC returned +13.43% vs +21.39% for VTI, so VTI leads on 1-year performance. Over the longest common window we track (25 years), NAC annualized +0.23% vs +8.07% for VTI. Past performance does not guarantee future results.
Which is riskier, NAC or VTI?
VTI has been the more volatile fund at 15.3% annualized versus 13.0% for NAC. Worst drawdown: NAC -53.7% vs VTI -56.6%.
Should I hold both NAC and VTI?
NAC and VTI have a monthly-return correlation of 0.24, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NAC and VTI?
NAC and VTI share 0 common holdings with a 0.0% weight overlap. Combined, they hold 2927 unique securities.
Which pays a higher dividend, NAC or VTI?
NAC yields 7.75% while VTI yields 1.07%, so NAC currently pays the higher dividend yield.
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