NMI vs SOXL
Nuveen Municipal Income Fund Inc. vs Direxion Daily Semiconductor Bull 3X ETF
Quick Verdict
NMI has a lower expense ratio. SOXL delivered stronger 1-year returns. NMI offers more diversification with 220 holdings.
Side-by-Side Comparison
| Metric | NMI | SOXL | Winner |
|---|---|---|---|
| Expense Ratio | 0.73% | 0.75% | |
| AUM | - | $24.3B | |
| Dividend Yield | 4.65% | 0.01% | |
| Holdings | 220 | 43 | |
| YTD Return | +7.43% | +155.29% | |
| 1Y Return | +11.77% | +375.74% | |
| 3Y Return (annualized) | +8.45% | +78.72% | |
| 5Y Return (annualized) | +1.49% | +23.06% | |
| Volatility (annualized) | 11.0% | 87.7% | |
| Max Drawdown | -34.4% | -90.5% | |
| Fund Family | Nuveen | Direxion Shares ETF Trust | |
| Category | Tax Preferred | Alternative | |
| Inception | Apr 20, 1988 | Mar 11, 2010 |
NMI vs SOXL Performance
Nuveen Municipal Income Fund Inc. (NMI) is a ETF from Nuveen and Direxion Daily Semiconductor Bull 3X ETF (SOXL) is a ETF from Direxion Shares ETF Trust. Over the past year NMI returned +11.77% while SOXL returned +375.74%. Year to date, NMI is up 7.43% versus a gain of 155.29% for SOXL.
Over three years, NMI compounded at +8.45% per year against +78.72% for SOXL; over five years the annualized figures are +1.49% and +23.06% respectively. Across the full 16-year window we track, SOXL has the edge at +37.43% annualized vs +0.27%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SOXL has been the more volatile fund, with annualized monthly volatility of 87.7% 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 -90.5% for SOXL. 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 0.13. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
NMI charges 0.73% per year while SOXL charges 0.75%. On a $10,000 position that is $73 vs $75 annually, a gap of $2 per year that compounds over a long holding period. On income, NMI currently yields 4.65% against 0.01% for SOXL.
Holdings Overlap
NMI and SOXL share 0 holdings out of 130 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 SOXL?
NMI has an expense ratio of 0.73% while SOXL charges 0.75%. NMI is the cheaper option. On a $10,000 investment, that is $2 per year of difference.
Which performed better, NMI or SOXL?
Over the past year NMI returned +11.77% vs +375.74% for SOXL, so SOXL leads on 1-year performance. Over the longest common window we track (16 years), NMI annualized +0.27% vs +37.43% for SOXL. Past performance does not guarantee future results.
Which is riskier, NMI or SOXL?
SOXL has been the more volatile fund at 87.7% annualized versus 11.0% for NMI. Worst drawdown: NMI -34.4% vs SOXL -90.5%.
Should I hold both NMI and SOXL?
NMI and SOXL have a monthly-return correlation of 0.13, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NMI and SOXL?
NMI and SOXL share 0 common holdings with a 0.0% weight overlap. Combined, they hold 130 unique securities.
Which pays a higher dividend, NMI or SOXL?
NMI yields 4.65% while SOXL yields 0.01%, so NMI currently pays the higher dividend yield.
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