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.
Performance
NEA vs. HYD - Performance Comparison
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NEA vs. HYD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NEA Nuveen AMT-Free Quality Municipal Income Fund | -0.17% | 11.31% | 9.50% | 0.75% | -23.32% | 8.16% | 10.07% | 22.42% | -5.72% | 8.77% |
HYD VanEck Vectors High-Yield Municipal Index ETF | -0.34% | 2.83% | 4.94% | 6.52% | -15.97% | 5.05% | 0.17% | 9.34% | 2.19% | 9.78% |
Returns By Period
In the year-to-date period, NEA achieves a -0.17% return, which is significantly higher than HYD's -0.34% return. Over the past 10 years, NEA has outperformed HYD with an annualized return of 3.17%, while HYD has yielded a comparatively lower 2.06% annualized return.
NEA
- 1D
- 1.60%
- 1M
- -3.55%
- YTD
- -0.17%
- 6M
- 3.40%
- 1Y
- 9.39%
- 3Y*
- 7.48%
- 5Y*
- 0.39%
- 10Y*
- 3.17%
HYD
- 1D
- 0.90%
- 1M
- -1.26%
- YTD
- -0.34%
- 6M
- 1.38%
- 1Y
- 2.70%
- 3Y*
- 3.60%
- 5Y*
- -0.11%
- 10Y*
- 2.06%
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Return for Risk
NEA vs. HYD — Risk / Return Rank
NEA
HYD
NEA vs. HYD - Risk-Adjusted Trends 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.
| NEA | HYD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.83 | 0.46 | +0.37 |
Sortino ratioReturn per unit of downside risk | 1.20 | 0.59 | +0.60 |
Omega ratioGain probability vs. loss probability | 1.17 | 1.11 | +0.07 |
Calmar ratioReturn relative to maximum drawdown | 1.16 | 0.73 | +0.43 |
Martin ratioReturn relative to average drawdown | 4.81 | 1.76 | +3.05 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NEA | HYD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.83 | 0.46 | +0.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | -0.02 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.27 | 0.16 | +0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.44 | -0.13 |
Correlation
The correlation between NEA and HYD is 0.33, 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.
Dividends
NEA vs. HYD - Dividend Comparison
NEA's dividend yield for the trailing twelve months is around 7.37%, more than HYD's 4.38% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NEA Nuveen AMT-Free Quality Municipal Income Fund | 7.37% | 7.36% | 6.63% | 3.95% | 5.49% | 4.50% | 4.45% | 4.46% | 5.40% | 5.33% | 5.70% | 5.71% |
HYD VanEck Vectors High-Yield Municipal Index ETF | 4.38% | 4.29% | 4.29% | 4.13% | 3.96% | 3.50% | 4.01% | 4.08% | 4.43% | 4.29% | 4.58% | 4.82% |
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 -35.61%. Use the drawdown chart below to compare losses from any high point for NEA and HYD.
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Drawdown Indicators
| NEA | HYD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.83% | -35.61% | -8.22% |
Max Drawdown (1Y)Largest decline over 1 year | -8.37% | -4.42% | -3.95% |
Max Drawdown (5Y)Largest decline over 5 years | -36.57% | -20.72% | -15.85% |
Max Drawdown (10Y)Largest decline over 10 years | -36.57% | -35.61% | -0.96% |
Current DrawdownCurrent decline from peak | -7.17% | -4.40% | -2.77% |
Average DrawdownAverage peak-to-trough decline | -8.03% | -4.34% | -3.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.03% | 1.83% | +0.20% |
Volatility
NEA vs. HYD - Volatility Comparison
Nuveen AMT-Free Quality Municipal Income Fund (NEA) has a higher volatility of 5.19% compared to VanEck Vectors High-Yield Municipal Index ETF (HYD) at 2.22%. 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.
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Volatility by Period
| NEA | HYD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.19% | 2.22% | +2.97% |
Volatility (6M)Calculated over the trailing 6-month period | 7.19% | 2.83% | +4.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.41% | 5.90% | +5.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.19% | 6.44% | +4.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.68% | 12.60% | -0.92% |