NMS vs SCHD
Nuveen Minnesota Quality Municipal Income Fund vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD delivered stronger 1-year returns. SCHD offers more diversification with 100 holdings.
Side-by-Side Comparison
| Metric | NMS | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | - | 0.06% | |
| AUM | - | $103.7B | |
| Dividend Yield | 6.79% | 3.31% | |
| Holdings | 145 | 104 | |
| YTD Return | +2.62% | +24.26% | |
| 1Y Return | +9.07% | +31.38% | |
| 3Y Return (annualized) | +8.84% | +15.08% | |
| 5Y Return (annualized) | -0.68% | +9.72% | |
| Volatility (annualized) | 13.3% | 13.6% | |
| Max Drawdown | -41.8% | -33.4% | |
| Fund Family | Nuveen | Charles Schwab Asset Management | |
| Category | Tax Preferred | Equity | |
| Inception | Jun 25, 1993 | Oct 20, 2011 |
NMS vs SCHD Performance
Nuveen Minnesota Quality Municipal Income Fund (NMS) is a ETF from Nuveen and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year NMS returned +9.07% while SCHD returned +31.38%. Year to date, NMS is up 2.62% versus a gain of 24.26% for SCHD.
Over three years, NMS compounded at +8.84% per year against +15.08% for SCHD; over five years the annualized figures are -0.68% and +9.72% respectively. Across the full 12-year window we track, SCHD has the edge at +11.39% annualized vs +0.28%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 13.6% compared with 13.3% for NMS. 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 -41.8% for NMS and -33.4% for SCHD. 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 0.32. They move independently enough that combining them can meaningfully diversify a portfolio.
Holdings Overlap
NMS and SCHD share 0 holdings out of 115 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which performed better, NMS or SCHD?
Over the past year NMS returned +9.07% vs +31.38% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (12 years), NMS annualized +0.28% vs +11.39% for SCHD. Past performance does not guarantee future results.
Which is riskier, NMS or SCHD?
SCHD has been the more volatile fund at 13.6% annualized versus 13.3% for NMS. Worst drawdown: NMS -41.8% vs SCHD -33.4%.
Should I hold both NMS and SCHD?
NMS and SCHD have a monthly-return correlation of 0.32, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NMS and SCHD?
NMS and SCHD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 115 unique securities.
Which pays a higher dividend, NMS or SCHD?
NMS yields 6.79% while SCHD yields 3.31%, so NMS currently pays the higher dividend yield.
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