NHYM vs. NURE

Last updated Aug 2, 2026

NHYM (Nuveen High Yield Municipal Income ETF) and NURE (Nuveen Short-Term REIT ETF) are both exchange-traded funds - NHYM is a High Yield Muni fund actively managed by Nuveen, while NURE is a REIT fund tracking the Dow Jones U.S. Select Short-Term REIT Index. NHYM is actively managed, while NURE is passively managed. Over the past year, NHYM returned 7.27% vs 20.18% for NURE. Their 0.24 correlation means their historical movements had little consistent relationship. Both charge a 0.35% expense ratio.

Performance

NHYM vs. NURE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen High Yield Municipal Income ETF (NHYM) and Nuveen Short-Term REIT ETF (NURE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NHYM achieves a 1.57% return, which is significantly lower than NURE's 18.24% return.

NHYM

• 1D: -0.18%
• 1M: -1.52%
• 6M: 1.04%
• YTD: 1.57%
• 1Y: 7.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.15%

NURE

• 1D: 0.15%
• 1M: -1.14%
• 6M: 17.18%
• YTD: 18.24%
• 1Y: 20.18%
• 3Y*: 6.66%
• 5Y*: 1.35%
• 10Y*: —
• ALL TIME*: 6.33%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NHYM Nuveen High Yield Municipal Income ETF	$370.71K	$444.40K	$624.01K
NURE Nuveen Short-Term REIT ETF	$84.21K	$101.52K	$138.35K

NHYM vs. NURE - Yearly Performance Comparison

	2026 (YTD)	2025
NHYM Nuveen High Yield Municipal Income ETF	1.57%	3.19%
NURE Nuveen Short-Term REIT ETF	18.24%	-4.90%

Correlation

The correlation between NHYM and NURE is 0.25, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.25
Correlation (All Time) Calculated using the full available price history since Jan 23, 2025	0.24

Return for Risk

NHYM vs. NURE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NHYM

NHYM Risk / Return Rank: 86
NHYM Sharpe Ratio Rank: 86
NHYM Sortino Ratio Rank: 90
NHYM Omega Ratio Rank: 91
NHYM Calmar Ratio Rank: 82
NHYM Martin Ratio Rank: 82

NURE

NURE Risk / Return Rank: 52
NURE Sharpe Ratio Rank: 51
NURE Sortino Ratio Rank: 53
NURE Omega Ratio Rank: 48
NURE Calmar Ratio Rank: 62
NURE Martin Ratio Rank: 47

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NHYM vs. NURE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen High Yield Municipal Income ETF (NHYM) and Nuveen Short-Term REIT ETF (NURE). 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.

	NHYM	NURE	Difference
Sharpe ratio: Return per unit of total volatility	2.04	1.25	+0.79
Sortino ratio: Return per unit of downside risk	3.17	1.87	+1.29
Omega ratio: Gain probability vs. loss probability	1.43	1.22	+0.21
Calmar ratio: Return relative to maximum drawdown	3.03	2.17	+0.85
Martin ratio: Return relative to average drawdown	10.90	5.37	+5.53

NHYM vs. NURE - Sharpe Ratio Comparison

The current NHYM Sharpe Ratio is 2.04, which is higher than the NURE Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of NHYM and NURE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NHYM vs. NURE - Drawdown Comparison

The maximum NHYM drawdown since its inception was -6.11%, smaller than the maximum NURE drawdown of -46.05%. Use the drawdown chart below to compare losses from any high point for NHYM and NURE.

Drawdown Indicators

	NHYM	NURE	Difference
Max Drawdown Largest peak-to-trough decline	-6.11%	-46.05%	+39.94%
Max Drawdown (1Y) Largest decline over 1 year	-2.77%	-9.13%	+6.36%
Max Drawdown (3Y) Largest decline over 3 years	—	-21.03%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-35.98%	—
Current Drawdown Current decline from peak	-1.66%	-6.78%	+5.12%
Average Drawdown Average peak-to-trough decline	-1.60%	-12.22%	+10.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.77%	3.69%	-2.92%

Volatility

NHYM vs. NURE - Volatility Comparison

The current volatility for Nuveen High Yield Municipal Income ETF (NHYM) is 1.00%, while Nuveen Short-Term REIT ETF (NURE) has a volatility of 5.05%. This indicates that NHYM experiences smaller price fluctuations and is considered to be less risky than NURE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NHYM	NURE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.00%	5.05%	-4.05%
Volatility (6M) Calculated over the trailing 6-month period	2.73%	11.66%	-8.93%
Volatility (1Y) Calculated over the trailing 1-year period	4.11%	16.04%	-11.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.69%	19.68%	-13.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.69%	21.73%	-16.04%

NHYM vs. NURE - Expense Ratio Comparison

Both NHYM and NURE have an expense ratio of 0.35%.

Dividends

NHYM vs. NURE - Dividend Comparison

NHYM's dividend yield for the trailing twelve months is around 4.60%, more than NURE's 4.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
NHYM Nuveen High Yield Municipal Income ETF	4.20%	4.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NURE Nuveen Short-Term REIT ETF	4.04%	4.56%	3.51%	3.73%	2.80%	1.34%	3.41%	3.28%	4.11%	3.86%	0.48%

Frequently Asked Questions

Can I hold both NHYM and NURE in my portfolio?

NHYM and NURE have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NHYM or NURE?

NURE has higher volatility (5.05%) compared to NHYM (1.00%). In terms of maximum drawdown, NHYM dropped -6.11% vs NURE's -46.05%.

Which ETF is better, NHYM or NURE?

On 1-year performance, NURE leads with 20.18% vs 7.27% for NHYM. Both ETFs have the same 0.35% expense ratio. On volatility, NHYM has been the lower-risk option at 1.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NHYM or NURE?

Over the 1-year period, NURE has performed better with a 20.18% return vs 7.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NHYM or NURE?

NHYM and NURE have the same expense ratio: 0.35% per year.

Which ETF pays a higher dividend yield, NHYM or NURE?

NHYM has the higher dividend yield at 4.20%, compared with 4.04% for NURE.

What is the main difference between NHYM and NURE?

NHYM is categorized as High Yield Muni, while NURE is REIT.

Which has better risk-adjusted returns?

NHYM currently has the higher Sharpe Ratio (2.04 vs 1.25), 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.