NUMI vs VOO
Nuveen Municipal Income ETF 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 509 holdings.
Side-by-Side Comparison
| Metric | NUMI | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.30% | 0.03% | |
| AUM | $85M | $997.4B | |
| Dividend Yield | 3.68% | 1.08% | |
| Holdings | 275 | 509 | |
| YTD Return | +0.28% | +12.68% | |
| 1Y Return | +5.72% | +21.87% | |
| 3Y Return (annualized) | - | +22.06% | |
| 5Y Return (annualized) | - | +12.95% | |
| Volatility (annualized) | 4.5% | 14.1% | |
| Max Drawdown | -4.7% | -34.3% | |
| Fund Family | Nuveen | Vanguard (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Jan 22, 2025 | Sep 7, 2010 |
NUMI vs VOO Performance
Nuveen Municipal Income ETF (NUMI) is a ETF from Nuveen and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year NUMI returned +5.72% while VOO returned +21.87%. Year to date, NUMI is up 0.28% versus a gain of 12.68% for VOO.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 14.1% 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 -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 0.51. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
NUMI charges 0.30% per year while VOO charges 0.03%. On a $10,000 position that is $30 vs $3 annually, a gap of $27 per year that compounds over a long holding period. On income, NUMI currently yields 3.68% against 1.08% for VOO.
Holdings Overlap
NUMI and VOO share 0 holdings out of 617 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 VOO?
NUMI has an expense ratio of 0.30% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $27 per year of difference.
Which performed better, NUMI or VOO?
Over the past year NUMI returned +5.72% vs +21.87% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (2 years), NUMI annualized +2.71% vs +13.47% for VOO. Past performance does not guarantee future results.
Which is riskier, NUMI or VOO?
VOO has been the more volatile fund at 14.1% annualized versus 4.5% for NUMI. Worst drawdown: NUMI -4.7% vs VOO -34.3%.
Should I hold both NUMI and VOO?
NUMI and VOO have a monthly-return correlation of 0.51, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NUMI and VOO?
NUMI and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 617 unique securities.
Which pays a higher dividend, NUMI or VOO?
NUMI yields 3.68% while VOO yields 1.08%, so NUMI currently pays the higher dividend yield.
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