Nuveen Municipal Income ETF (NUMI) belongs to the Municipal Bonds category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with NUMI. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to NUMI
NUMI charges 0.29% annually. There are 81 ETFs in the Municipal Bonds category with lower expense ratios, going as low as 0.03%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Schwab Municipal Bond ETF | 0.03% | 3.87B | Oct 2022 | NUMI vs SCMB | |
| Vanguard Tax-Exempt Bond ETF | 0.03% | 45.70B | Aug 2015 | NUMI vs VTEB | |
| Fidelity Systematic Municipal Bond Index ETF | 0.05% | 178.36M | Jul 2019 | NUMI vs FMUN | |
| Northern Trust Intermediate Tax-Exempt Bond ETF | 0.05% | 144.40M | Aug 2025 | NUMI vs TAXI | |
| Northern Trust Short-Term Tax-Exempt Bond ETF | 0.05% | 94.44M | Aug 2025 | NUMI vs TAXS |
Best Risk-Adjusted Alternatives to NUMI
NUMI has a PortfoliosLab risk / return rank of 66. There are 77 ETFs in the Municipal Bonds category with higher risk-adjusted ranks, going as high as 97.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| State Street My2027 Municipal Bond ETF | 97 | 9.88M | Sep 2024 | NUMI vs MYMG | |
| State Street My2026 Municipal Bond ETF | 96 | 8.74M | Sep 2024 | NUMI vs MYMF | |
| iShares Short Maturity Municipal Bond ETF | 95 | 1.38B | Mar 2015 | NUMI vs MEAR | |
| First Trust Ultra Short Duration Municipal ETF | 95 | 230.57M | Nov 2018 | NUMI vs FUMB | |
| Invesco BulletShares 2027 Municipal Bond ETF | 94 | 339.63M | Sep 2019 | NUMI vs BSMR |
Top Performing NUMI Alternatives (YTD)
NUMI is at 1.53% YTD. There are 47 ETFs in the Municipal Bonds category with higher YTD returns, going as high as 3.96%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Overlay Shares Municipal Bond ETF | 3.96% | 30.60M | Sep 2019 | NUMI vs OVM | |
| Xtrackers Municipal Infrastructure Revenue Bond ET... | 3.71% | 138.42M | Jun 2013 | NUMI vs RVNU | |
| First Trust Flexible Municipal High Income ETF | 3.33% | 18.90M | Sep 2016 | NUMI vs MFLX | |
| T. Rowe Price High Income Municipal ETF | 3.33% | 25.30M | Nov 2025 | NUMI vs THYM | |
| SPDR Nuveen Bloomberg Barclays High Yield Municipa... | 2.87% | 2.93B | Apr 2011 | NUMI vs HYMB |
Lowest Volatility Alternatives to NUMI
NUMI has 3.48% 1-year volatility. There are 104 ETFs in the Municipal Bonds category with lower 1-year volatility, going as low as 0.00%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| iShares iBonds Dec 2024 Term Muni Bond ETF | 0.00% | 349.85M | Mar 2018 | NUMI vs IBMM | |
| F/m Ultrashort Tax-Free Municipal ETF | 0.54% | 27.03M | Sep 2025 | NUMI vs ZMUN | |
| iShares iBonds Dec 2025 Term Muni Bond ETF | 0.71% | 348.98M | Nov 2018 | NUMI vs IBMN | |
| Allspring Ultra Short Municipal ETF | 0.73% | 30.06M | Jul 2025 | NUMI vs AUSM | |
| State Street My2026 Municipal Bond ETF | 0.75% | 8.74M | Sep 2024 | NUMI vs MYMF |
Lowest Drawdown Alternatives to NUMI
NUMI has a 1-year max drawdown of -2.82%. There are 77 ETFs in the Municipal Bonds category with shallower 1-year drawdowns, going as shallow as -0.22%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| First Trust Ultra Short Duration Municipal ETF | -0.22% | 230.57M | Nov 2018 | NUMI vs FUMB | |
| iShares iBonds Dec 2025 Term Muni Bond ETF | -0.25% | 348.98M | Nov 2018 | NUMI vs IBMN | |
| Invesco BulletShares 2026 Municipal Bond ETF | -0.33% | 294.75M | Sep 2019 | NUMI vs BSMQ | |
| State Street My2027 Municipal Bond ETF | -0.36% | 9.88M | Sep 2024 | NUMI vs MYMG | |
| Goldman Sachs Ultra Short Municipal Income ETF | -0.36% | 40.29M | Jul 2024 | NUMI vs GUMI |
Other ETFs from Nuveen
The 10 most viewed Nuveen ETFs shown here include NULG, NPFI, NUDV and span 10 categories. AUM among these funds goes as high as $3B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Nuveen ESG Large-Cap Growth ETF | Large Cap Growth Equities | 43 | 17.22% | 2.66B | Dec 2016 | NUMI vs NULG | |
| Nuveen Preferred And Income ETF | Preferred Stock/Convertible Bonds | 76 | 1.62% | 166.00M | Mar 2024 | NUMI vs NPFI | |
| Nuveen ESG Dividend ETF | Large Cap Value Equities | 55 | 9.63% | 45.56M | Sep 2021 | NUMI vs NUDV | |
| Nuveen Short-Term REIT ETF | REIT | 17 | 11.00% | 34.02M | Dec 2016 | NUMI vs NURE | |
| Nuveen AA-BBB CLO ETF | CLO | 54 | 1.96% | — | Dec 2024 | NUMI vs NCLO | |
| Nuveen ESG Small-Cap ETF | Small Cap Growth Equities | 50 | 12.88% | 1.32B | Dec 2016 | NUMI vs NUSC | |
| Nuveen ESG Mid-Cap Growth ETF | Mid Cap Growth Equities | 8 | -0.40% | 363.89M | Dec 2016 | NUMI vs NUMG | |
| Nuveen ESG Large-Cap Value ETF | Large Cap Value Equities | 77 | 12.83% | 2.12B | Dec 2016 | NUMI vs NULV | |
| Nuveen ESG U.S. Aggregate Bond ETF | Intermediate Core Bond | 36 | 0.20% | 449.35M | Sep 2017 | NUMI vs NUBD | |
| Nuveen ESG Mid-Cap Value ETF | Mid Cap Value Equities, ESG | 56 | 9.74% | 440.58M | Dec 2016 | NUMI vs NUMV |
Often Compared With NUMI
Investors most often compare NUMI with TAXT, BPH, MUB. These 20 comparison targets span 7 categories, based on PortfoliosLab usage data.
Compare NUMI with Any Fund or Stock
Compare NUMI with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair NUMI with funds that move differently
Nuveen Municipal Income ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to NUMI.
Explore NUMI Diversifiers