NEA vs. HYD
Compare and contrast key facts about Nuveen AMT-Free Quality Municipal Income Fund (NEA) and VanEck Vectors High-Yield Municipal Index ETF (HYD).
HYD is a passively managed fund by VanEck that tracks the performance of the Bloomberg Barclays Municipal Custom High Yield Composite Index. It was launched on Feb 4, 2009.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: NEA or HYD.
Correlation
The correlation between NEA and HYD is 0.05, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
NEA vs. HYD - Performance Comparison
Key characteristics
NEA:
0.84
HYD:
0.29
NEA:
1.19
HYD:
0.40
NEA:
1.18
HYD:
1.07
NEA:
0.35
HYD:
0.17
NEA:
3.04
HYD:
1.24
NEA:
2.91%
HYD:
1.55%
NEA:
10.54%
HYD:
6.63%
NEA:
-43.83%
HYD:
-35.60%
NEA:
-17.90%
HYD:
-8.91%
Returns By Period
In the year-to-date period, NEA achieves a -1.72% return, which is significantly higher than HYD's -2.35% return. Over the past 10 years, NEA has underperformed HYD with an annualized return of 2.67%, while HYD has yielded a comparatively higher 3.07% annualized return.
NEA
-1.72%
-2.65%
-3.14%
9.58%
1.48%
2.67%
HYD
-2.35%
-1.30%
-1.83%
2.34%
2.37%
3.07%
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Risk-Adjusted Performance
NEA vs. HYD — Risk-Adjusted Performance Rank
NEA
HYD
NEA vs. HYD - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen AMT-Free Quality Municipal Income Fund (NEA) and VanEck Vectors High-Yield Municipal Index ETF (HYD). 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.
Dividends
NEA vs. HYD - Dividend Comparison
NEA's dividend yield for the trailing twelve months is around 7.90%, more than HYD's 4.43% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NEA Nuveen AMT-Free Quality Municipal Income Fund | 7.90% | 6.63% | 3.95% | 5.49% | 4.50% | 4.45% | 4.46% | 5.40% | 5.33% | 5.70% | 5.71% | 5.95% |
HYD VanEck Vectors High-Yield Municipal Index ETF | 4.43% | 4.29% | 4.13% | 3.96% | 3.50% | 4.01% | 4.08% | 14.47% | 4.29% | 4.58% | 4.82% | 4.98% |
Drawdowns
NEA vs. HYD - Drawdown Comparison
The maximum NEA drawdown since its inception was -43.83%, which is greater than HYD's maximum drawdown of -35.60%. Use the drawdown chart below to compare losses from any high point for NEA and HYD. For additional features, visit the drawdowns tool.
Volatility
NEA vs. HYD - Volatility Comparison
Nuveen AMT-Free Quality Municipal Income Fund (NEA) has a higher volatility of 7.18% compared to VanEck Vectors High-Yield Municipal Index ETF (HYD) at 4.52%. This indicates that NEA's price experiences larger fluctuations and is considered to be riskier than HYD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.