NMT vs SCHD
NMT vs SCHD
Nuveen Massachusetts Quality Municipal Income Fund vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. SCHD offers more diversification with 100 holdings.
Side-by-Side Comparison
| Metric | NMT | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 3.90% | 0.06% | |
| AUM | - | $103.7B | |
| Dividend Yield | 6.89% | 3.31% | |
| Holdings | 114 | 104 | |
| YTD Return | +15.53% | +24.26% | |
| 1Y Return | +18.97% | +31.38% | |
| 3Y Return (annualized) | +13.41% | +15.08% | |
| 5Y Return (annualized) | +1.26% | +9.72% | |
| Volatility (annualized) | 11.7% | 13.6% | |
| Max Drawdown | -49.6% | -33.4% | |
| Fund Family | Nuveen | Charles Schwab Asset Management | |
| Category | Tax Preferred | Equity | |
| Inception | Mar 18, 1993 | Oct 20, 2011 |
NMT vs SCHD Performance
Nuveen Massachusetts Quality Municipal Income Fund (NMT) is a ETF from Nuveen and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year NMT returned +18.97% while SCHD returned +31.38%. Year to date, NMT is up 15.53% versus a gain of 24.26% for SCHD.
Over three years, NMT compounded at +13.41% per year against +15.08% for SCHD; over five years the annualized figures are +1.26% and +9.72% respectively. Across the full 15-year window we track, SCHD has the edge at +11.39% annualized vs +0.58%. 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 11.7% for NMT. 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 -49.6% for NMT 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.
Fees and Cost Over Time
NMT charges 3.90% per year while SCHD charges 0.06%. On a $10,000 position that is $390 vs $6 annually, a gap of $384 per year that compounds over a long holding period. On income, NMT currently yields 6.89% against 3.31% for SCHD.
Holdings Overlap
NMT and SCHD share 0 holdings out of 128 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, NMT or SCHD?
NMT has an expense ratio of 3.90% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $384 per year of difference.
Which performed better, NMT or SCHD?
Over the past year NMT returned +18.97% vs +31.38% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), NMT annualized +0.58% vs +11.39% for SCHD. Past performance does not guarantee future results.
Which is riskier, NMT or SCHD?
SCHD has been the more volatile fund at 13.6% annualized versus 11.7% for NMT. Worst drawdown: NMT -49.6% vs SCHD -33.4%.
Should I hold both NMT and SCHD?
NMT 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 NMT and SCHD?
NMT and SCHD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 128 unique securities.
Which pays a higher dividend, NMT or SCHD?
NMT yields 6.89% while SCHD yields 3.31%, so NMT currently pays the higher dividend yield.
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