NPFI vs. NHYM

Last updated Apr 2, 2026

Compare and contrast key facts about Nuveen Preferred And Income ETF (NPFI) and Nuveen High Yield Municipal Income ETF (NHYM).

NPFI and NHYM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. NPFI is an actively managed fund by Nuveen. It was launched on Mar 5, 2024. NHYM is an actively managed fund by Nuveen. It was launched on Jan 22, 2025.

Performance

NPFI vs. NHYM - Performance Comparison

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

NPFI vs. NHYM - Yearly Performance Comparison

	2026 (YTD)	2025
NPFI Nuveen Preferred And Income ETF	-0.50%	8.72%
NHYM Nuveen High Yield Municipal Income ETF	0.74%	3.25%

Returns By Period

In the year-to-date period, NPFI achieves a -0.50% return, which is significantly lower than NHYM's 0.74% return.

NPFI

• 1D: 0.22%
• 1M: -1.30%
• YTD: -0.50%
• 6M: 0.77%
• 1Y: 7.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NHYM

• 1D: 0.47%
• 1M: -1.24%
• YTD: 0.74%
• 6M: 2.75%
• 1Y: 3.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NPFI vs. NHYM - Expense Ratio Comparison

NPFI has a 0.55% expense ratio, which is higher than NHYM's 0.35% expense ratio.

NPFI

Nuveen Preferred And Income ETF

NHYM

Nuveen High Yield Municipal Income ETF

Return for Risk

NPFI vs. NHYM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NPFI

NPFI Risk / Return Rank: 87
NPFI Sharpe Ratio Rank: 92
NPFI Sortino Ratio Rank: 94
NPFI Omega Ratio Rank: 96
NPFI Calmar Ratio Rank: 77
NPFI Martin Ratio Rank: 77

NHYM

NHYM Risk / Return Rank: 24
NHYM Sharpe Ratio Rank: 27
NHYM Sortino Ratio Rank: 23
NHYM Omega Ratio Rank: 28
NHYM Calmar Ratio Rank: 23
NHYM Martin Ratio Rank: 20

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NPFI vs. NHYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Preferred And Income ETF (NPFI) and Nuveen High Yield Municipal Income ETF (NHYM). 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.

	NPFI	NHYM	Difference
Sharpe ratio Return per unit of total volatility	2.17	0.56	+1.61
Sortino ratio Return per unit of downside risk	2.97	0.74	+2.23
Omega ratio Gain probability vs. loss probability	1.50	1.13	+0.37
Calmar ratio Return relative to maximum drawdown	2.20	0.64	+1.56
Martin ratio Return relative to average drawdown	8.87	1.45	+7.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NPFI vs. NHYM - Sharpe Ratio Comparison

The current NPFI Sharpe Ratio is 2.17, which is higher than the NHYM Sharpe Ratio of 0.56. The chart below compares the historical Sharpe Ratios of NPFI and NHYM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NPFI	NHYM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.17	0.56	+1.61
Sharpe Ratio (All Time) Calculated using the full available price history	2.58	0.55	+2.03

Correlation

The correlation between NPFI and NHYM is 0.29, 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

NPFI vs. NHYM - Dividend Comparison

NPFI's dividend yield for the trailing twelve months is around 6.50%, more than NHYM's 4.59% yield.

	TTM	2025	2024
NPFI Nuveen Preferred And Income ETF	6.50%	6.33%	5.10%
NHYM Nuveen High Yield Municipal Income ETF	4.59%	4.06%	0.00%

Drawdowns

NPFI vs. NHYM - Drawdown Comparison

The maximum NPFI drawdown since its inception was -3.18%, smaller than the maximum NHYM drawdown of -6.11%. Use the drawdown chart below to compare losses from any high point for NPFI and NHYM.

Drawdown Indicators

	NPFI	NHYM	Difference
Max Drawdown Largest peak-to-trough decline	-3.18%	-6.11%	+2.93%
Max Drawdown (1Y) Largest decline over 1 year	-3.18%	-5.52%	+2.34%
Current Drawdown Current decline from peak	-2.04%	-1.62%	-0.42%
Average Drawdown Average peak-to-trough decline	-0.33%	-1.89%	+1.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.79%	2.45%	-1.66%

Volatility

NPFI vs. NHYM - Volatility Comparison

Nuveen Preferred And Income ETF (NPFI) and Nuveen High Yield Municipal Income ETF (NHYM) have volatilities of 1.67% and 1.62%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NPFI	NHYM	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.67%	1.62%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	2.16%	2.70%	-0.54%
Volatility (1Y) Calculated over the trailing 1-year period	3.26%	6.36%	-3.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.86%	6.20%	-3.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.86%	6.20%	-3.34%