NMI vs SAWS
Nuveen Municipal Income Fund Inc. vs AAM Sawgrass US Small Cap Quality Growth ETF
Quick Verdict
SAWS has a lower expense ratio. SAWS delivered stronger 1-year returns. NMI offers more diversification with 95 holdings.
Side-by-Side Comparison
| Metric | NMI | SAWS | Winner |
|---|---|---|---|
| Expense Ratio | 0.73% | 0.55% | |
| AUM | - | $8M | |
| Dividend Yield | 4.57% | 0.02% | |
| Holdings | 220 | 72 | |
| YTD Return | +10.41% | +15.23% | |
| 1Y Return | +14.14% | +22.18% | |
| 3Y Return (annualized) | +9.57% | - | |
| 5Y Return (annualized) | +1.91% | - | |
| Volatility (annualized) | 11.0% | 18.4% | |
| Max Drawdown | -34.4% | -22.0% | |
| Fund Family | Nuveen | Advisors Asset Management, Inc. | |
| Category | Tax Preferred | Equity | |
| Inception | Apr 20, 1988 | Jul 30, 2024 |
NMI vs SAWS Performance
Nuveen Municipal Income Fund Inc. (NMI) is a ETF from Nuveen and AAM Sawgrass US Small Cap Quality Growth ETF (SAWS) is a ETF from Advisors Asset Management, Inc.. Over the past year NMI returned +14.14% while SAWS returned +22.18%. Year to date, NMI is up 10.41% versus a gain of 15.23% for SAWS.
Risk: Volatility and Drawdowns
SAWS has been the more volatile fund, with annualized monthly volatility of 18.4% 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 -22.0% for SAWS. 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 -0.04. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
NMI charges 0.73% per year while SAWS charges 0.55%. On a $10,000 position that is $73 vs $55 annually, a gap of $18 per year that compounds over a long holding period. On income, NMI currently yields 4.57% against 0.02% for SAWS.
Holdings Overlap
NMI and SAWS share 0 holdings out of 166 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 SAWS?
NMI has an expense ratio of 0.73% while SAWS charges 0.55%. SAWS is the cheaper option. On a $10,000 investment, that is $18 per year of difference.
Which performed better, NMI or SAWS?
Over the past year NMI returned +14.14% vs +22.18% for SAWS, so SAWS leads on 1-year performance. Over the longest common window we track (2 years), NMI annualized +0.36% vs +13.04% for SAWS. Past performance does not guarantee future results.
Which is riskier, NMI or SAWS?
SAWS has been the more volatile fund at 18.4% annualized versus 11.0% for NMI. Worst drawdown: NMI -34.4% vs SAWS -22.0%.
Should I hold both NMI and SAWS?
NMI and SAWS have a monthly-return correlation of -0.04, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NMI and SAWS?
NMI and SAWS share 0 common holdings with a 0.0% weight overlap. Combined, they hold 166 unique securities.
Which pays a higher dividend, NMI or SAWS?
NMI yields 4.57% while SAWS yields 0.02%, so NMI currently pays the higher dividend yield.
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