NDIV vs. VTEB
NDIV (Amplify Natural Resources Dividend Income ETF) and VTEB (Vanguard Tax-Exempt Bond ETF) are both exchange-traded funds - NDIV is a Energy Equities fund tracking the EQM Natural Resources Dividend Income Index, while VTEB is a Municipal Bonds fund tracking the S&P National AMT-Free Municipal Bond Index. Both are passively managed. Over the past 3 years, NDIV returned 15.74%/yr vs 2.92%/yr for VTEB. Their 0.03 correlation means their historical movements had little consistent relationship. NDIV charges 0.59%/yr vs 0.03%/yr for VTEB.
Performance
NDIV vs. VTEB - Performance Comparison
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Returns By Period
In the year-to-date period, NDIV achieves a 33.67% return, which is significantly higher than VTEB's 0.31% return.
NDIV
- 1D
- 1.10%
- 1M
- 8.05%
- 6M
- 18.09%
- YTD
- 33.67%
- 1Y
- 33.78%
- 3Y*
- 15.74%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 14.64%
VTEB
- 1D
- -0.10%
- 1M
- -1.84%
- 6M
- -0.23%
- YTD
- 0.31%
- 1Y
- 4.77%
- 3Y*
- 2.92%
- 5Y*
- 0.53%
- 10Y*
- 1.88%
- ALL TIME*
- 2.28%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $359.17K | $364.93K | $506.10K | |
| $377.87M | $352.76M | $360.69M |
NDIV vs. VTEB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
NDIV Amplify Natural Resources Dividend Income ETF | 33.67% | 2.85% | 6.18% | 15.52% | 1.50% |
VTEB Vanguard Tax-Exempt Bond ETF | 0.31% | 3.72% | 1.31% | 6.15% | -0.40% |
Correlation
The correlation between NDIV and VTEB is -0.21, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.21 |
Correlation (3Y) Balances recent behavior with more history. | 0.01 |
Correlation (All Time) Calculated using the full available price history since Aug 24, 2022 | 0.03 |
The correlation between NDIV and VTEB shifts across timeframes, from -0.21 (1 year) to 0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NDIV vs. VTEB — Risk / Return Rank
NDIV
VTEB
NDIV vs. VTEB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amplify Natural Resources Dividend Income ETF (NDIV) and Vanguard Tax-Exempt Bond ETF (VTEB). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| NDIV | VTEB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.39 | ||
| Sortino ratioReturn per unit of downside risk | -0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.41 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.63 | 2.00 | +0.63 |
| Martin ratioReturn relative to average drawdown | 6.50 | 6.62 | -0.12 |
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Drawdowns
NDIV vs. VTEB - Drawdown Comparison
The maximum NDIV drawdown since its inception was -19.73%, which is greater than VTEB's maximum drawdown of -17.00%. Use the drawdown chart below to compare losses from any high point for NDIV and VTEB.
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Drawdown Indicators
| NDIV | VTEB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.73% | -17.00% | -2.73% |
Max Drawdown (1Y)Largest decline over 1 year | -11.56% | -2.71% | -8.85% |
Max Drawdown (3Y)Largest decline over 3 years | -19.73% | -4.76% | -14.97% |
Max Drawdown (5Y)Largest decline over 5 years | — | -12.59% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.00% | — |
Current DrawdownCurrent decline from peak | -3.34% | -1.86% | -1.48% |
Average DrawdownAverage peak-to-trough decline | -4.31% | -2.30% | -2.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.69% | 0.82% | +3.87% |
Volatility
NDIV vs. VTEB - Volatility Comparison
Amplify Natural Resources Dividend Income ETF (NDIV) has a higher volatility of 5.04% compared to Vanguard Tax-Exempt Bond ETF (VTEB) at 0.88%. This indicates that NDIV's price experiences larger fluctuations and is considered to be riskier than VTEB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NDIV | VTEB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.04% | 0.88% | +4.16% |
Volatility (6M)Calculated over the trailing 6-month period | 13.65% | 2.22% | +11.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.52% | 2.79% | +16.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.88% | 3.92% | +16.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.88% | 5.25% | +15.63% |
NDIV vs. VTEB - Expense Ratio Comparison
NDIV has a 0.59% expense ratio, which is higher than VTEB's 0.03% expense ratio.
Dividends
NDIV vs. VTEB - Dividend Comparison
NDIV's dividend yield for the trailing twelve months is around 7.68%, more than VTEB's 3.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NDIV Amplify Natural Resources Dividend Income ETF | 7.68% | 5.64% | 5.88% | 7.37% | 1.69% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VTEB Vanguard Tax-Exempt Bond ETF | 3.14% | 3.29% | 3.14% | 2.79% | 2.09% | 1.64% | 1.99% | 2.30% | 2.25% | 1.96% | 1.66% | 0.58% |
Frequently Asked Questions
NDIV and VTEB have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NDIV has higher volatility (5.04%) compared to VTEB (0.88%). In terms of maximum drawdown, NDIV dropped -19.73% vs VTEB's -17.00%.
On 3-year performance, NDIV leads with 15.74% vs 2.92% for VTEB. On fees, VTEB is cheaper at 0.03% per year. On volatility, VTEB has been the lower-risk option at 0.88%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, NDIV has performed better with a 15.74% return vs 2.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VTEB is cheaper with a 0.03% expense ratio, compared with 0.59% for NDIV.
NDIV has the higher dividend yield at 7.68%, compared with 3.14% for VTEB.
NDIV is categorized as Energy Equities, while VTEB is Municipal Bonds. NDIV tracks EQM Natural Resources Dividend Income Index, while VTEB tracks S&P National AMT-Free Municipal Bond Index. They also come from different issuers: Amplify and Vanguard. Their fees differ too: 0.59% for NDIV and 0.03% for VTEB.
VTEB currently has the higher Sharpe Ratio (1.95 vs 1.56), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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