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 82 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% | 3.93B | Oct 2022 | NUMI vs SCMB | |
| Vanguard Tax-Exempt Bond ETF | 0.03% | 48.80B | Aug 2015 | NUMI vs VTEB | |
| Fidelity Systematic Municipal Bond Index ETF | 0.05% | 183.09M | Jul 2019 | NUMI vs FMUN | |
| Northern Trust Short-Term Tax-Exempt Bond ETF | 0.05% | 130.20M | Aug 2025 | NUMI vs TAXS | |
| Northern Trust Tax-Exempt Bond ETF | 0.05% | 60.01M | Aug 2025 | NUMI vs TAXT |
Best Risk-Adjusted Alternatives to NUMI
NUMI has a PortfoliosLab risk / return rank of 73. There are 62 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 My2026 Municipal Bond ETF | 97 | 8.74M | Sep 2024 | NUMI vs MYMF | |
| State Street My2027 Municipal Bond ETF | 97 | 8.63M | Sep 2024 | NUMI vs MYMG | |
| Allspring Ultra Short Municipal ETF | 97 | 30.06M | Jul 2025 | NUMI vs AUSM | |
| First Trust Ultra Short Duration Municipal ETF | 97 | 246.47M | Nov 2018 | NUMI vs FUMB | |
| Goldman Sachs Ultra Short Municipal Income ETF | 97 | 54.13M | Jul 2024 | NUMI vs GUMI |
Top Performing NUMI Alternatives (YTD)
NUMI is at 0.27% YTD. There are 105 ETFs in the Municipal Bonds category with higher YTD returns, going as high as 3.71%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| X-Square Municipal Income Tax Free ETF | 3.71% | 4.54M | May 2023 | NUMI vs ZTAX | |
| NYLI MacKay Muni Allocation ETF | 2.42% | 28.01M | Dec 2025 | NUMI vs MMMA | |
| Xtrackers Municipal Infrastructure Revenue Bond ET... | 2.38% | 142.95M | Jun 2013 | NUMI vs RVNU | |
| Overlay Shares Municipal Bond ETF | 2.26% | 30.60M | Sep 2019 | NUMI vs OVM | |
| T. Rowe Price High Income Municipal ETF | 2.25% | 26.19M | Nov 2025 | NUMI vs THYM |
Lowest Volatility Alternatives to NUMI
NUMI has 3.31% 1-year volatility. There are 102 ETFs in the Municipal Bonds category with lower 1-year volatility, going as low as 0.54%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| F/m Ultrashort Tax-Free Municipal ETF | 0.54% | 34.95M | Sep 2025 | NUMI vs ZMUN | |
| State Street My2026 Municipal Bond ETF | 0.69% | 8.74M | Sep 2024 | NUMI vs MYMF | |
| iShares Short-Term California Muni Active ETF | 0.72% | 445.30M | Oct 2007 | NUMI vs CALI | |
| Allspring Ultra Short Municipal ETF | 0.76% | 30.06M | Jul 2025 | NUMI vs AUSM | |
| First Trust Ultra Short Duration Municipal ETF | 0.84% | 246.47M | Nov 2018 | NUMI vs FUMB |
Lowest Drawdown Alternatives to NUMI
NUMI has a 1-year max drawdown of -2.82%. There are 76 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% | 246.47M | Nov 2018 | NUMI vs FUMB | |
| Invesco BulletShares 2026 Municipal Bond ETF | -0.30% | 270.83M | Sep 2019 | NUMI vs BSMQ | |
| Goldman Sachs Ultra Short Municipal Income ETF | -0.36% | 54.13M | Jul 2024 | NUMI vs GUMI | |
| State Street My2027 Municipal Bond ETF | -0.36% | 8.63M | Sep 2024 | NUMI vs MYMG | |
| iShares iBonds Dec 2026 Term Muni Bond ETF | -0.38% | 576.01M | Apr 2019 | NUMI vs IBMO |
Other ETFs from Nuveen
The 10 most viewed Nuveen ETFs shown here include NULG, NPFI, NCLO 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 | 33 | 14.65% | 2.67B | Dec 2016 | NUMI vs NULG | |
| Nuveen Preferred And Income ETF | Preferred Stock | 76 | 1.83% | 174.03M | Mar 2024 | NUMI vs NPFI | |
| Nuveen AA-BBB CLO ETF | CLO | 69 | 2.93% | — | Dec 2024 | NUMI vs NCLO | |
| Nuveen ESG Dividend ETF | Large Cap Value Equities | 87 | 13.60% | 50.18M | Sep 2021 | NUMI vs NUDV | |
| Nuveen Short-Term REIT ETF | REIT | 52 | 18.24% | 35.73M | Dec 2016 | NUMI vs NURE | |
| Nuveen ESG Large-Cap Value ETF | Large Cap Value Equities | 90 | 14.74% | 2.20B | Dec 2016 | NUMI vs NULV | |
| Nuveen ESG Mid-Cap Value ETF | Mid Cap Value Equities, ESG | 76 | 12.97% | 443.69M | Dec 2016 | NUMI vs NUMV | |
| Nuveen ESG Small-Cap ETF | Small Cap Growth Equities | 67 | 14.06% | 1.29B | Dec 2016 | NUMI vs NUSC | |
| Nuveen ESG Mid-Cap Growth ETF | Mid Cap Growth Equities | 7 | -3.57% | 349.73M | Dec 2016 | NUMI vs NUMG | |
| Nuveen Ultra Short Income ETF | Ultrashort Bond | 100 | 2.15% | 156.61M | Mar 2024 | NUMI vs NUSB |
Often Compared With NUMI
Investors most often compare NUMI with TAXI, MFLX, BPH. These 20 comparison targets span 8 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