NMAI vs SCHD
Nuveen Multi-Asset Income Fund vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. NMAI offers more diversification with 1,312 holdings.
Side-by-Side Comparison
| Metric | NMAI | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 1.87% | 0.06% | |
| AUM | - | $108.7B | |
| Dividend Yield | 9.58% | 3.13% | |
| Holdings | 1,312 | 104 | |
| YTD Return | +18.84% | +26.50% | |
| 1Y Return | +27.27% | +31.25% | |
| 3Y Return (annualized) | +20.92% | +16.34% | |
| 5Y Return (annualized) | - | +10.10% | |
| Volatility (annualized) | 18.8% | 13.6% | |
| Max Drawdown | -35.6% | -33.4% | |
| Fund Family | Nuveen | Charles Schwab Asset Management | |
| Category | Allocation/Balanced | Equity | |
| Inception | Nov 22, 2021 | Oct 20, 2011 |
NMAI vs SCHD Performance
Nuveen Multi-Asset Income Fund (NMAI) is a ETF from Nuveen and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year NMAI returned +27.27% while SCHD returned +31.25%. Year to date, NMAI is up 18.84% versus a gain of 26.50% for SCHD.
Over three years, NMAI compounded at +20.92% per year against +16.34% for SCHD. Across the full 5-year window we track, SCHD has the edge at +11.50% annualized vs +6.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NMAI has been the more volatile fund, with annualized monthly volatility of 18.8% compared with 13.6% 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 -33.4% for SCHD. 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 0.77. 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
NMAI and SCHD share 16 holdings out of 748 unique holdings combined, representing a 2.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $181 per year of difference.
Which performed better, NMAI or SCHD?
Over the past year NMAI returned +27.27% vs +31.25% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (5 years), NMAI annualized +6.85% vs +11.50% for SCHD. Past performance does not guarantee future results.
Which is riskier, NMAI or SCHD?
NMAI has been the more volatile fund at 18.8% annualized versus 13.6% for SCHD. Worst drawdown: NMAI -35.6% vs SCHD -33.4%.
Should I hold both NMAI and SCHD?
NMAI and SCHD have a monthly-return correlation of 0.77, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NMAI and SCHD?
NMAI and SCHD share 16 common holdings with a 2.0% weight overlap. Combined, they hold 748 unique securities.
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.
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