NDMO vs VOO
Nuveen Dynamic Municipal Opportunities 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 | NDMO | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 2.92% | 0.03% | |
| AUM | - | $979.0B | |
| Dividend Yield | 7.09% | 1.09% | |
| Holdings | 543 | 509 | |
| YTD Return | +3.39% | +13.80% | |
| 1Y Return | +9.81% | +23.71% | |
| 3Y Return (annualized) | +5.06% | +21.50% | |
| 5Y Return (annualized) | -3.82% | +13.44% | |
| Volatility (annualized) | 18.2% | 14.1% | |
| Max Drawdown | -42.5% | -34.3% | |
| Fund Family | Nuveen | Vanguard (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Aug 26, 2020 | Sep 7, 2010 |
NDMO vs VOO Performance
Nuveen Dynamic Municipal Opportunities Fund (NDMO) is a ETF from Nuveen and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year NDMO returned +9.81% while VOO returned +23.71%. Year to date, NDMO is up 3.39% versus a gain of 13.80% for VOO.
Over three years, NDMO compounded at +5.06% per year against +21.50% for VOO; over five years the annualized figures are -3.82% and +13.44% respectively. Across the full 6-year window we track, VOO has the edge at +13.58% annualized vs -0.47%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NDMO has been the more volatile fund, with annualized monthly volatility of 18.2% compared with 14.1% for VOO. 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 -42.5% for NDMO 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 0.60. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
NDMO charges 2.92% per year while VOO charges 0.03%. On a $10,000 position that is $292 vs $3 annually, a gap of $289 per year that compounds over a long holding period. On income, NDMO currently yields 7.09% against 1.09% for VOO.
Holdings Overlap
NDMO and VOO share 0 holdings out of 703 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, NDMO or VOO?
NDMO has an expense ratio of 2.92% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $289 per year of difference.
Which performed better, NDMO or VOO?
Over the past year NDMO returned +9.81% vs +23.71% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (6 years), NDMO annualized -0.47% vs +13.58% for VOO. Past performance does not guarantee future results.
Which is riskier, NDMO or VOO?
NDMO has been the more volatile fund at 18.2% annualized versus 14.1% for VOO. Worst drawdown: NDMO -42.5% vs VOO -34.3%.
Should I hold both NDMO and VOO?
NDMO and VOO have a monthly-return correlation of 0.60, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NDMO and VOO?
NDMO and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 703 unique securities.
Which pays a higher dividend, NDMO or VOO?
NDMO yields 7.09% while VOO yields 1.09%, so NDMO currently pays the higher dividend yield.
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