NMAI vs VYM
Nuveen Multi-Asset Income Fund vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM 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 | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 1.87% | 0.04% | |
| AUM | - | $81.6B | |
| Dividend Yield | 9.58% | 2.24% | |
| Holdings | 1,312 | 616 | |
| YTD Return | +18.84% | +15.75% | |
| 1Y Return | +27.27% | +23.85% | |
| 3Y Return (annualized) | +20.92% | +19.14% | |
| 5Y Return (annualized) | - | +12.45% | |
| Volatility (annualized) | 18.8% | 14.6% | |
| Max Drawdown | -35.6% | -58.8% | |
| Fund Family | Nuveen | Vanguard (US) | |
| Category | Allocation/Balanced | Equity | |
| Inception | Nov 22, 2021 | Nov 10, 2006 |
NMAI vs VYM Performance
Nuveen Multi-Asset Income Fund (NMAI) is a ETF from Nuveen and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year NMAI returned +27.27% while VYM returned +23.85%. Year to date, NMAI is up 18.84% versus a gain of 15.75% for VYM.
Over three years, NMAI compounded at +20.92% per year against +19.14% for VYM. Across the full 5-year window we track, VYM has the edge at +7.06% 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 14.6% for VYM. 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 -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 0.84. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
NMAI charges 1.87% per year while VYM charges 0.04%. On a $10,000 position that is $187 vs $4 annually, a gap of $183 per year that compounds over a long holding period. On income, NMAI currently yields 9.58% against 2.24% for VYM.
Holdings Overlap
NMAI and VYM share 131 holdings out of 1136 unique holdings combined, representing a 14.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, NMAI or VYM?
NMAI has an expense ratio of 1.87% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $183 per year of difference.
Which performed better, NMAI or VYM?
Over the past year NMAI returned +27.27% vs +23.85% for VYM, so NMAI leads on 1-year performance. Over the longest common window we track (5 years), NMAI annualized +6.85% vs +7.06% for VYM. Past performance does not guarantee future results.
Which is riskier, NMAI or VYM?
NMAI has been the more volatile fund at 18.8% annualized versus 14.6% for VYM. Worst drawdown: NMAI -35.6% vs VYM -58.8%.
Should I hold both NMAI and VYM?
NMAI and VYM have a monthly-return correlation of 0.84, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NMAI and VYM?
NMAI and VYM share 131 common holdings with a 14.2% weight overlap. Combined, they hold 1136 unique securities.
Which pays a higher dividend, NMAI or VYM?
NMAI yields 9.58% while VYM yields 2.24%, so NMAI currently pays the higher dividend yield.
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