NMI vs PATN
Nuveen Municipal Income Fund Inc. vs Pacer Nasdaq International Patent Leaders ETF
Quick Verdict
PATN has a lower expense ratio. PATN delivered stronger 1-year returns. NMI offers more diversification with 220 holdings.
Side-by-Side Comparison
| Metric | NMI | PATN | Winner |
|---|---|---|---|
| Expense Ratio | 0.73% | 0.65% | |
| AUM | - | $234M | |
| Dividend Yield | 4.65% | 1.67% | |
| Holdings | 220 | 108 | |
| YTD Return | +7.43% | +30.11% | |
| 1Y Return | +11.77% | +51.30% | |
| 3Y Return (annualized) | +8.45% | - | |
| 5Y Return (annualized) | +1.49% | - | |
| Volatility (annualized) | 11.0% | 21.1% | |
| Max Drawdown | -34.4% | -16.8% | |
| Fund Family | Nuveen | Pacer ETFs | |
| Category | Tax Preferred | Equity | |
| Inception | Apr 20, 1988 | Sep 16, 2024 |
NMI vs PATN Performance
Nuveen Municipal Income Fund Inc. (NMI) is a ETF from Nuveen and Pacer Nasdaq International Patent Leaders ETF (PATN) is a ETF from Pacer ETFs. Over the past year NMI returned +11.77% while PATN returned +51.30%. Year to date, NMI is up 7.43% versus a gain of 30.11% for PATN.
Risk: Volatility and Drawdowns
PATN has been the more volatile fund, with annualized monthly volatility of 21.1% compared with 11.0% for NMI. 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 -34.4% for NMI and -16.8% for PATN. 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 0.08. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
NMI charges 0.73% per year while PATN charges 0.65%. On a $10,000 position that is $73 vs $65 annually, a gap of $8 per year that compounds over a long holding period. On income, NMI currently yields 4.65% against 1.67% for PATN.
Holdings Overlap
NMI and PATN share 0 holdings out of 196 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, NMI or PATN?
NMI has an expense ratio of 0.73% while PATN charges 0.65%. PATN is the cheaper option. On a $10,000 investment, that is $8 per year of difference.
Which performed better, NMI or PATN?
Over the past year NMI returned +11.77% vs +51.30% for PATN, so PATN leads on 1-year performance. Over the longest common window we track (2 years), NMI annualized +0.27% vs +37.49% for PATN. Past performance does not guarantee future results.
Which is riskier, NMI or PATN?
PATN has been the more volatile fund at 21.1% annualized versus 11.0% for NMI. Worst drawdown: NMI -34.4% vs PATN -16.8%.
Should I hold both NMI and PATN?
NMI and PATN have a monthly-return correlation of 0.08, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NMI and PATN?
NMI and PATN share 0 common holdings with a 0.0% weight overlap. Combined, they hold 196 unique securities.
Which pays a higher dividend, NMI or PATN?
NMI yields 4.65% while PATN yields 1.67%, so NMI currently pays the higher dividend yield.
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