NMAI vs VOO
Nuveen Multi-Asset Income Fund vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. NMAI delivered stronger 1-year returns. NMAI offers more diversification with 1,312 holdings.
Side-by-Side Comparison
| Metric | NMAI | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 1.87% | 0.03% | |
| AUM | - | $997.4B | |
| Dividend Yield | 9.58% | 1.08% | |
| Holdings | 1,312 | 509 | |
| YTD Return | +16.85% | +12.25% | |
| 1Y Return | +25.85% | +20.92% | |
| 3Y Return (annualized) | +20.20% | +21.79% | |
| 5Y Return (annualized) | - | +13.05% | |
| Volatility (annualized) | 18.8% | 14.1% | |
| Max Drawdown | -35.6% | -34.3% | |
| Fund Family | Nuveen | Vanguard (US) | |
| Category | Allocation/Balanced | Equity | |
| Inception | Nov 22, 2021 | Sep 7, 2010 |
NMAI vs VOO Performance
Nuveen Multi-Asset Income Fund (NMAI) is a ETF from Nuveen and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year NMAI returned +25.85% while VOO returned +20.92%. Year to date, NMAI is up 16.85% versus a gain of 12.25% for VOO.
Over three years, NMAI compounded at +20.20% per year against +21.79% for VOO. Across the full 5-year window we track, VOO has the edge at +13.45% annualized vs +6.46%. 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 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 -35.6% for NMAI 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 0.85. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
NMAI charges 1.87% per year while VOO charges 0.03%. On a $10,000 position that is $187 vs $3 annually, a gap of $184 per year that compounds over a long holding period. On income, NMAI currently yields 9.58% against 1.08% for VOO.
Holdings Overlap
NMAI and VOO share 181 holdings out of 988 unique holdings combined, representing a 28.9% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, NMAI or VOO?
NMAI has an expense ratio of 1.87% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $184 per year of difference.
Which performed better, NMAI or VOO?
Over the past year NMAI returned +25.85% vs +20.92% for VOO, so NMAI leads on 1-year performance. Over the longest common window we track (5 years), NMAI annualized +6.46% vs +13.45% for VOO. Past performance does not guarantee future results.
Which is riskier, NMAI or VOO?
NMAI has been the more volatile fund at 18.8% annualized versus 14.1% for VOO. Worst drawdown: NMAI -35.6% vs VOO -34.3%.
Should I hold both NMAI and VOO?
NMAI and VOO have a monthly-return correlation of 0.85, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NMAI and VOO?
NMAI and VOO share 181 common holdings with a 28.9% weight overlap. Combined, they hold 988 unique securities.
Which pays a higher dividend, NMAI or VOO?
NMAI yields 9.58% while VOO yields 1.08%, so NMAI currently pays the higher dividend yield.
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