NMS vs VOO
Nuveen Minnesota Quality Municipal Income Fund vs Vanguard S&P 500 ETF
Quick Verdict
VOO delivered stronger 1-year returns. VOO offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | NMS | VOO | Winner |
|---|---|---|---|
| Expense Ratio | - | 0.03% | |
| AUM | - | $979.0B | |
| Dividend Yield | 6.79% | 1.09% | |
| Holdings | 145 | 509 | |
| YTD Return | +3.24% | +13.79% | |
| 1Y Return | +10.03% | +23.01% | |
| 3Y Return (annualized) | +9.29% | +21.78% | |
| 5Y Return (annualized) | -0.51% | +13.39% | |
| Volatility (annualized) | 13.3% | 14.1% | |
| Max Drawdown | -41.8% | -34.3% | |
| Fund Family | Nuveen | Vanguard (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Jun 25, 1993 | Sep 7, 2010 |
NMS vs VOO Performance
Nuveen Minnesota Quality Municipal Income Fund (NMS) is a ETF from Nuveen and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year NMS returned +10.03% while VOO returned +23.01%. Year to date, NMS is up 3.24% versus a gain of 13.79% for VOO.
Over three years, NMS compounded at +9.29% per year against +21.78% for VOO; over five years the annualized figures are -0.51% and +13.39% respectively. Across the full 12-year window we track, VOO has the edge at +13.57% annualized vs +0.33%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 14.1% 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 -34.3% for VOO. 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 0.34. They move independently enough that combining them can meaningfully diversify a portfolio.
Holdings Overlap
NMS and VOO share 0 holdings out of 520 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 VOO?
Over the past year NMS returned +10.03% vs +23.01% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (12 years), NMS annualized +0.33% vs +13.57% for VOO. Past performance does not guarantee future results.
Which is riskier, NMS or VOO?
VOO has been the more volatile fund at 14.1% annualized versus 13.3% for NMS. Worst drawdown: NMS -41.8% vs VOO -34.3%.
Should I hold both NMS and VOO?
NMS and VOO have a monthly-return correlation of 0.34, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NMS and VOO?
NMS and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 520 unique securities.
Which pays a higher dividend, NMS or VOO?
NMS yields 6.79% while VOO yields 1.09%, so NMS currently pays the higher dividend yield.
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