NMAI vs SCHD
Nuveen Multi-Asset Income Fund vs Schwab US Dividend Equity ETF
Which is better, NMAI or SCHD?
Allocation/Balanced against Large Cap Value.
SCHD has a lower expense ratio. NMAI led over 3Y, SCHD over 1Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | NMAI | SCHD |
|---|---|---|
| Expense Ratio | 1.87% | 0.06%Best |
| AUM | - | $112.2B |
| Dividend Yield | 9.58% | 3.13% |
| Holdings | 1,312 | 103 |
| YTD Return | +20.40% | +26.13%Best |
| 1Y Return | +26.83% | +30.01%Best |
| 3Y Return (annualized) | +21.14%Best | +16.09% |
| 5Y Return (annualized) | - | +9.95% |
| Volatility (annualized) | 18.7% | 14.9%Best |
| Max Drawdown | -35.6% | -16.9%Best |
| $10,000 over 4.8 years | $13,874 | $15,595Best |
| Fund Family | Nuveen | Charles Schwab Asset Management |
| Category | Allocation/Balanced | Equity |
| Style | Allocation/Balanced | Large Cap Value |
| Inception | Nov 22, 2021 | Oct 20, 2011 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 4.8 years row, are measured over the window both funds cover: Nov 22, 2021 to Sep 8, 2026 (4.8 years).
NMAI vs SCHD growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 4.8 years both funds cover.
NMAI vs SCHD Performance
Nuveen Multi-Asset Income Fund (NMAI) is an ETF from Nuveen and Schwab US Dividend Equity ETF (SCHD) is an ETF from Charles Schwab Asset Management. Over the past year NMAI returned +26.83% while SCHD returned +30.01%. Year to date, NMAI is up 20.40% versus a gain of 26.13% for SCHD.
Over three years, NMAI compounded at +21.14% per year against +16.09% for SCHD.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NMAI has been the more volatile fund, with annualized monthly volatility of 18.7% compared with 14.9% for SCHD. 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 -35.6% for NMAI and -16.9% for SCHD. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
NMAI charges 1.87% per year while SCHD charges 0.06%. On a $10,000 position that is $187 vs $6 annually, a gap of $181 per year that compounds over a long holding period. On income, NMAI currently yields 9.58% against 3.13% for SCHD.
Holdings Overlap
At least 47.3% of SCHD's money is in holdings NMAI also owns.
Stated as a floor: for NMAI, our book for it covers 66.5% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
The two portfolios partly overlap.
The two holdings books were reported 189 days apart, NMAI as of Jan 30, 2026 and SCHD as of Aug 7, 2026, so some of the difference between them is the time between the two reports rather than the funds.
16 positions in common, counted across the 663 positions we hold weights for in NMAI and 100 in SCHD, against full books of 1,312 and 103.
Top Shared Holdings
| Stock | Weight in NMAI | Weight in SCHD | Difference |
|---|---|---|---|
| ABTAbbott Laboratories | 0.09% | 4.70% | 4.61% |
| HDHome Depot Inc/The | 0.37% | 4.32% | 3.95% |
| AMGNAmgen Inc. | 0.02% | 4.62% | 4.60% |
| KOCoca-cola Co. | 0.41% | 4.20% | 3.79% |
| PGProcter & Gamble Company | 0.35% | 3.96% | 3.61% |
| UNHUnitedhealth Group | 0.05% | 4.11% | 4.06% |
| COPConocophillips Co | 0.35% | 3.59% | 3.24% |
| CVXChevron Corp.United States -Energy | 0.09% | 3.74% | 3.65% |
| PEPPepsico Inc. | 0.03% | 3.71% | 3.68% |
| ACNAccenture Plc Class A | 0.09% | 2.70% | 2.61% |
47.3% of SCHD is already inside NMAI.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, NMAI or SCHD?
NMAI has an expense ratio of 1.87% while SCHD charges 0.06%. SCHD is the cheaper option, by $181 a year on a $10,000 investment.
Which performed better, NMAI or SCHD?
Over the past year NMAI returned +26.83% vs +30.01% for SCHD, so SCHD leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, NMAI or SCHD?
NMAI has been the more volatile fund at 18.7% annualized versus 14.9% for SCHD. Worst drawdown: NMAI -35.6% vs SCHD -16.9%.
Should I hold both NMAI and SCHD?
NMAI and SCHD have a monthly-return correlation of 0.77, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between NMAI and SCHD?
At least 47.3% of SCHD's money is in holdings NMAI also owns. Our book for NMAI is partial, so the real figure is this or higher. They hold 16 positions in common, counted across the 663 positions we hold weights for in NMAI and 100 in SCHD.
Which pays a higher dividend, NMAI or SCHD?
NMAI yields 9.58% while SCHD yields 3.13%, so NMAI currently pays the higher dividend yield.
Is SCHD better than NMAI?
SCHD has a lower expense ratio. NMAI led over 3Y, SCHD over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.