NUMG vs. NHYM

Last updated Jul 14, 2026

NUMG (Nuveen ESG Mid-Cap Growth ETF) and NHYM (Nuveen High Yield Municipal Income ETF) are both exchange-traded funds - NUMG is a Mid Cap Growth Equities fund tracking the MSCI TIAA ESG USA Mid Cap Growth, while NHYM is a High Yield Muni fund actively managed by Nuveen. NUMG is passively managed, while NHYM is actively managed. Over the past year, NUMG returned -1.76% vs 8.61% for NHYM. At a 0.14 correlation, their price movements are largely independent. NUMG charges 0.30%/yr vs 0.35%/yr for NHYM.

Performance

NUMG vs. NHYM - Performance Comparison

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

Returns By Period

In the year-to-date period, NUMG achieves a -1.65% return, which is significantly lower than NHYM's 2.81% return.

NUMG

• 1D: -0.21%
• 1M: 2.35%
• 6M: -3.82%
• YTD: -1.65%
• 1Y: -1.76%
• 3Y*: 5.59%
• 5Y*: -0.32%
• 10Y*: —

NHYM

• 1D: -0.14%
• 1M: 0.30%
• 6M: 2.19%
• YTD: 2.81%
• 1Y: 8.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NUMG vs. NHYM - Yearly Performance Comparison

	2026 (YTD)	2025
NUMG Nuveen ESG Mid-Cap Growth ETF	-1.65%	-3.73%
NHYM Nuveen High Yield Municipal Income ETF	2.81%	3.19%

Correlation

The correlation between NUMG and NHYM is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (All Time) Calculated using the full available price history since Jan 23, 2025	0.14

Return for Risk

NUMG vs. NHYM — Risk / Return Rank

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

NUMG

NUMG Risk / Return Rank: 8
NUMG Sharpe Ratio Rank: 8
NUMG Sortino Ratio Rank: 8
NUMG Omega Ratio Rank: 8
NUMG Calmar Ratio Rank: 8
NUMG Martin Ratio Rank: 8

NHYM

NHYM Risk / Return Rank: 82
NHYM Sharpe Ratio Rank: 82
NHYM Sortino Ratio Rank: 88
NHYM Omega Ratio Rank: 88
NHYM Calmar Ratio Rank: 76
NHYM Martin Ratio Rank: 77

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.

NUMG vs. NHYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen ESG Mid-Cap Growth ETF (NUMG) 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.

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.

	NUMG	NHYM	Difference
Sharpe ratio: Return per unit of total volatility	-0.09	2.06	-2.15
Sortino ratio: Return per unit of downside risk	-0.00	3.20	-3.20
Omega ratio: Gain probability vs. loss probability	1.00	1.43	-0.43
Calmar ratio: Return relative to maximum drawdown	-0.09	3.12	-3.21
Martin ratio: Return relative to average drawdown	-0.22	11.49	-11.72

NUMG vs. NHYM - Sharpe Ratio Comparison

The current NUMG Sharpe Ratio is -0.09, which is lower than the NHYM Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of NUMG and NHYM, 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

NUMG vs. NHYM - Drawdown Comparison

The maximum NUMG drawdown since its inception was -38.85%, which is greater than NHYM's maximum drawdown of -6.11%. Use the drawdown chart below to compare losses from any high point for NUMG and NHYM.

Drawdown Indicators

	NUMG	NHYM	Difference
Max Drawdown Largest peak-to-trough decline	-38.85%	-6.11%	-32.74%
Max Drawdown (1Y) Largest decline over 1 year	-19.71%	-2.77%	-16.94%
Max Drawdown (3Y) Largest decline over 3 years	-26.58%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-38.85%	—	—
Current Drawdown Current decline from peak	-10.47%	-0.46%	-10.01%
Average Drawdown Average peak-to-trough decline	-11.37%	-1.62%	-9.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.90%	0.76%	+7.14%

Volatility

NUMG vs. NHYM - Volatility Comparison

Nuveen ESG Mid-Cap Growth ETF (NUMG) has a higher volatility of 5.08% compared to Nuveen High Yield Municipal Income ETF (NHYM) at 0.69%. This indicates that NUMG's price experiences larger fluctuations and is considered to be riskier than NHYM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NUMG	NHYM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.08%	0.69%	+4.39%
Volatility (6M) Calculated over the trailing 6-month period	15.12%	2.65%	+12.47%
Volatility (1Y) Calculated over the trailing 1-year period	18.82%	4.21%	+14.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.98%	5.74%	+17.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.84%	5.74%	+16.10%

NUMG vs. NHYM - Expense Ratio Comparison

NUMG has a 0.30% expense ratio, which is lower than NHYM's 0.35% expense ratio.

Dividends

NUMG vs. NHYM - Dividend Comparison

NUMG's dividend yield for the trailing twelve months is around 0.01%, less than NHYM's 4.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
NHYM Nuveen High Yield Municipal Income ETF	4.54%	4.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NUMG Nuveen ESG Mid-Cap Growth ETF	0.01%	0.01%	0.06%	0.18%	0.18%	12.76%	3.82%	0.27%	5.14%	0.56%

Frequently Asked Questions

Can I hold both NUMG and NHYM in my portfolio?

NUMG and NHYM have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NUMG or NHYM?

NUMG has higher volatility (5.08%) compared to NHYM (0.69%). In terms of maximum drawdown, NUMG dropped -38.85% vs NHYM's -6.11%.

Which ETF is better, NUMG or NHYM?

On 1-year performance, NHYM leads with 8.61% vs -1.76% for NUMG. On fees, NUMG is cheaper at 0.30% per year. On volatility, NHYM has been the lower-risk option at 0.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NUMG or NHYM?

Over the 1-year period, NHYM has performed better with a 8.61% return vs -1.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NUMG or NHYM?

NUMG is cheaper with a 0.30% expense ratio, compared with 0.35% for NHYM.

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

NHYM has the higher dividend yield at 4.54%, compared with 0.01% for NUMG.

What is the main difference between NUMG and NHYM?

NUMG is categorized as Mid Cap Growth Equities, while NHYM is High Yield Muni. Their fees differ too: 0.30% for NUMG and 0.35% for NHYM.

Which has better risk-adjusted returns?

NHYM currently has the higher Sharpe Ratio (2.06 vs -0.09), 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.