NZF vs VTI
Nuveen Municipal Credit Income Fund vs Vanguard Morningstar Total Stock Market ETF
Which is better, NZF or VTI?
Municipal Bond against Large Cap Blend.
VTI has a lower expense ratio. VTI led over 1Y, 3Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | NZF | VTI |
|---|---|---|
| Expense Ratio | 3.61% | 0.03%Best |
| AUM | - | $666.9B |
| Dividend Yield | 7.86% | 1.03% |
| Holdings | 671 | 3,543 |
| YTD Return | -4.31% | +11.65%Best |
| 1Y Return | -0.28% | +17.34%Best |
| 3Y Return (annualized) | +8.76% | +20.35%Best |
| 5Y Return (annualized) | -1.92% | +11.72%Best |
| Volatility (annualized) | 13.1%Best | 15.2% |
| Max Drawdown | -53.7%Best | -56.6% |
| $10,000 over 5 years | $9,076 | $17,404Best |
| Fund Family | Nuveen | Vanguard (US) |
| Category | Tax Preferred | Equity |
| Style | Municipal Bond | Large Cap Blend |
| Inception | Sep 25, 2001 | May 24, 2001 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Sep 26, 2001 to Sep 10, 2026 (25 years).
NZF vs VTI growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
NZF vs VTI Performance
Nuveen Municipal Credit Income Fund (NZF) is an ETF from Nuveen and Vanguard Morningstar Total Stock Market ETF (VTI) is an ETF from Vanguard (US). Over the past year NZF returned -0.28% while VTI returned +17.34%. Year to date, NZF is down 4.31% versus a gain of 11.65% for VTI.
Over three years, NZF compounded at +8.76% per year against +20.35% for VTI; over five years the annualized figures are -1.92% and +11.72% respectively. Across the full 25-year window we track, VTI has the edge at +9.11% annualized vs +0.29%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VTI has been the more volatile fund, with annualized monthly volatility of 15.2% compared with 13.1% for NZF. 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 -53.7% for NZF and -56.6% for VTI. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.27. They move largely independently of each other.
Fees and Cost Over Time
NZF charges 3.61% per year while VTI charges 0.03%. On a $10,000 position that is $361 vs $3 annually, a gap of $358 per year that compounds over a long holding period. On income, NZF currently yields 7.86% against 1.03% for VTI.
Holdings Overlap
We hold position weights for 254 holdings in NZF and 2,787 in VTI, totalling 81.5% and 90.6% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 150 days apart, NZF as of Jan 31, 2026 and VTI as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 254 positions we hold weights for in NZF and 2,787 in VTI, against full books of 671 and 3,543.
You are not choosing between two funds in isolation.
Whichever of NZF and VTI you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, NZF or VTI?
NZF has an expense ratio of 3.61% while VTI charges 0.03%. VTI is the cheaper option, by $358 a year on a $10,000 investment.
Which performed better, NZF or VTI?
Over the past year NZF returned -0.28% vs +17.34% for VTI, so VTI leads on 1-year performance. Over the longest common window we track (25 years), NZF annualized +0.29% vs +9.11% for VTI. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, NZF or VTI?
VTI has been the more volatile fund at 15.2% annualized versus 13.1% for NZF. Worst drawdown: NZF -53.7% vs VTI -56.6%.
Should I hold both NZF and VTI?
NZF and VTI have a monthly-return correlation of 0.27, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, NZF or VTI?
NZF yields 7.86% while VTI yields 1.03%, so NZF currently pays the higher dividend yield.
Is VTI better than NZF?
VTI has a lower expense ratio. VTI led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.