NMT vs VOO
Nuveen Massachusetts Quality Municipal Income Fund vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | NMT | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 3.90% | 0.03% | |
| AUM | - | $979.0B | |
| Dividend Yield | 6.89% | 1.09% | |
| Holdings | 114 | 509 | |
| YTD Return | +15.53% | +13.80% | |
| 1Y Return | +18.97% | +23.71% | |
| 3Y Return (annualized) | +13.41% | +21.50% | |
| 5Y Return (annualized) | +1.26% | +13.44% | |
| Volatility (annualized) | 11.7% | 14.1% | |
| Max Drawdown | -49.6% | -34.3% | |
| Fund Family | Nuveen | Vanguard (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Mar 18, 1993 | Sep 7, 2010 |
NMT vs VOO Performance
Nuveen Massachusetts Quality Municipal Income Fund (NMT) is a ETF from Nuveen and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year NMT returned +18.97% while VOO returned +23.71%. Year to date, NMT is up 15.53% versus a gain of 13.80% for VOO.
Over three years, NMT compounded at +13.41% per year against +21.50% for VOO; over five years the annualized figures are +1.26% and +13.44% respectively. Across the full 16-year window we track, VOO has the edge at +13.58% annualized vs +0.58%. 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 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 -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 0.29. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
NMT charges 3.90% per year while VOO charges 0.03%. On a $10,000 position that is $390 vs $3 annually, a gap of $387 per year that compounds over a long holding period. On income, NMT currently yields 6.89% against 1.09% for VOO.
Holdings Overlap
NMT and VOO share 0 holdings out of 533 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 VOO?
NMT has an expense ratio of 3.90% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $387 per year of difference.
Which performed better, NMT or VOO?
Over the past year NMT returned +18.97% vs +23.71% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), NMT annualized +0.58% vs +13.58% for VOO. Past performance does not guarantee future results.
Which is riskier, NMT or VOO?
VOO has been the more volatile fund at 14.1% annualized versus 11.7% for NMT. Worst drawdown: NMT -49.6% vs VOO -34.3%.
Should I hold both NMT and VOO?
NMT and VOO have a monthly-return correlation of 0.29, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NMT and VOO?
NMT and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 533 unique securities.
Which pays a higher dividend, NMT or VOO?
NMT yields 6.89% while VOO yields 1.09%, so NMT currently pays the higher dividend yield.
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