NUMI vs QQQ
Nuveen Municipal Income ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. NUMI offers more diversification with 275 holdings.
Side-by-Side Comparison
| Metric | NUMI | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.30% | 0.18% | |
| AUM | $85M | $496.3B | |
| Dividend Yield | 3.68% | 0.44% | |
| Holdings | 275 | 108 | |
| YTD Return | +0.28% | +16.64% | |
| 1Y Return | +5.72% | +27.27% | |
| 3Y Return (annualized) | - | +25.96% | |
| 5Y Return (annualized) | - | +14.54% | |
| Volatility (annualized) | 4.5% | 30.6% | |
| Max Drawdown | -4.7% | -83.0% | |
| Fund Family | Nuveen | Invesco (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Jan 22, 2025 | Mar 10, 1999 |
NUMI vs QQQ Performance
Nuveen Municipal Income ETF (NUMI) is a ETF from Nuveen and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year NUMI returned +5.72% while QQQ returned +27.27%. Year to date, NUMI is up 0.28% versus a gain of 16.64% for QQQ.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 4.5% for NUMI. 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 -4.7% for NUMI and -83.0% for QQQ. 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 0.48. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
NUMI charges 0.30% per year while QQQ charges 0.18%. On a $10,000 position that is $30 vs $18 annually, a gap of $12 per year that compounds over a long holding period. On income, NUMI currently yields 3.68% against 0.44% for QQQ.
Holdings Overlap
NUMI and QQQ share 0 holdings out of 214 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, NUMI or QQQ?
NUMI has an expense ratio of 0.30% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $12 per year of difference.
Which performed better, NUMI or QQQ?
Over the past year NUMI returned +5.72% vs +27.27% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (2 years), NUMI annualized +2.71% vs +13.03% for QQQ. Past performance does not guarantee future results.
Which is riskier, NUMI or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 4.5% for NUMI. Worst drawdown: NUMI -4.7% vs QQQ -83.0%.
Should I hold both NUMI and QQQ?
NUMI and QQQ have a monthly-return correlation of 0.48, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NUMI and QQQ?
NUMI and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 214 unique securities.
Which pays a higher dividend, NUMI or QQQ?
NUMI yields 3.68% while QQQ yields 0.44%, so NUMI currently pays the higher dividend yield.
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