NCA vs VYM
Nuveen California Municipal Value Fund Inc. vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM delivered stronger 1-year returns. VYM offers more diversification with 558 holdings.
Side-by-Side Comparison
| Metric | NCA | VYM | Winner |
|---|---|---|---|
| Expense Ratio | - | 0.04% | |
| AUM | - | $79.0B | |
| Dividend Yield | 3.79% | 2.86% | |
| Holdings | 136 | 568 | |
| YTD Return | +3.38% | +15.80% | |
| 1Y Return | +9.83% | +26.12% | |
| 3Y Return (annualized) | +6.06% | +18.25% | |
| 5Y Return (annualized) | +0.38% | +12.51% | |
| Volatility (annualized) | 10.0% | 14.6% | |
| Max Drawdown | -32.5% | -58.8% | |
| Fund Family | Nuveen | Vanguard (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Oct 7, 1987 | Nov 10, 2006 |
NCA vs VYM Performance
Nuveen California Municipal Value Fund Inc. (NCA) is a ETF from Nuveen and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year NCA returned +9.83% while VYM returned +26.12%. Year to date, NCA is up 3.38% versus a gain of 15.80% for VYM.
Over three years, NCA compounded at +6.06% per year against +18.25% for VYM; over five years the annualized figures are +0.38% and +12.51% respectively. Across the full 20-year window we track, VYM has the edge at +7.07% annualized vs +0.24%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VYM has been the more volatile fund, with annualized monthly volatility of 14.6% compared with 10.0% for NCA. 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 -32.5% for NCA and -58.8% for VYM. 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 0.34. They move independently enough that combining them can meaningfully diversify a portfolio.
Holdings Overlap
NCA and VYM share 0 holdings out of 631 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which performed better, NCA or VYM?
Over the past year NCA returned +9.83% vs +26.12% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (20 years), NCA annualized +0.24% vs +7.07% for VYM. Past performance does not guarantee future results.
Which is riskier, NCA or VYM?
VYM has been the more volatile fund at 14.6% annualized versus 10.0% for NCA. Worst drawdown: NCA -32.5% vs VYM -58.8%.
Should I hold both NCA and VYM?
NCA and VYM have a monthly-return correlation of 0.34, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NCA and VYM?
NCA and VYM share 0 common holdings with a 0.0% weight overlap. Combined, they hold 631 unique securities.
Which pays a higher dividend, NCA or VYM?
NCA yields 3.79% while VYM yields 2.86%, so NCA currently pays the higher dividend yield.
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