NUMI vs. DRLL

Last updated Aug 2, 2026

NUMI (Nuveen Municipal Income ETF) and DRLL (Strive U.S. Energy ETF) are both exchange-traded funds - NUMI is a Municipal Bonds fund actively managed by Nuveen, while DRLL is a Energy Equities fund tracking the Bloomberg US Energy Select Index. NUMI is actively managed, while DRLL is passively managed. Over the past year, NUMI returned 5.27% vs 44.82% for DRLL. Their -0.12 correlation means they have often moved in opposite directions in the past. NUMI charges 0.29%/yr vs 0.41%/yr for DRLL.

Performance

NUMI vs. DRLL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Municipal Income ETF (NUMI) and Strive U.S. Energy ETF (DRLL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NUMI achieves a 0.27% return, which is significantly lower than DRLL's 36.69% return.

NUMI

• 1D: -0.18%
• 1M: -1.57%
• 6M: -0.55%
• YTD: 0.27%
• 1Y: 5.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 2.66%

DRLL

• 1D: 0.80%
• 1M: 14.19%
• 6M: 21.14%
• YTD: 36.69%
• 1Y: 44.82%
• 3Y*: 12.74%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.77%

*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)
DRLL Strive U.S. Energy ETF	$463.62K	$500.96K	$563.89K
NUMI Nuveen Municipal Income ETF	$143.18K	$168.88K	$126.57K

NUMI vs. DRLL - Yearly Performance Comparison

	2026 (YTD)	2025
NUMI Nuveen Municipal Income ETF	0.27%	3.78%
DRLL Strive U.S. Energy ETF	36.69%	1.07%

Correlation

The correlation between NUMI and DRLL is -0.21, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.21
Correlation (All Time) Calculated using the full available price history since Jan 23, 2025	-0.12

Return for Risk

NUMI vs. DRLL — Risk / Return Rank

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

NUMI

NUMI Risk / Return Rank: 73
NUMI Sharpe Ratio Rank: 79
NUMI Sortino Ratio Rank: 82
NUMI Omega Ratio Rank: 87
NUMI Calmar Ratio Rank: 60
NUMI Martin Ratio Rank: 56

DRLL

DRLL Risk / Return Rank: 70
DRLL Sharpe Ratio Rank: 79
DRLL Sortino Ratio Rank: 72
DRLL Omega Ratio Rank: 72
DRLL Calmar Ratio Rank: 71
DRLL Martin Ratio Rank: 53

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.

NUMI vs. DRLL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Municipal Income ETF (NUMI) and Strive U.S. Energy ETF (DRLL). 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.

	NUMI	DRLL	Difference
Sharpe ratio: Return per unit of total volatility	1.84	1.82	+0.02
Sortino ratio: Return per unit of downside risk	2.69	2.35	+0.34
Omega ratio: Gain probability vs. loss probability	1.39	1.30	+0.09
Calmar ratio: Return relative to maximum drawdown	2.15	2.46	-0.32
Martin ratio: Return relative to average drawdown	6.74	6.27	+0.47

NUMI vs. DRLL - Sharpe Ratio Comparison

The current NUMI Sharpe Ratio is 1.84, which is comparable to the DRLL Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of NUMI and DRLL, 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

NUMI vs. DRLL - Drawdown Comparison

The maximum NUMI drawdown since its inception was -4.72%, smaller than the maximum DRLL drawdown of -23.73%. Use the drawdown chart below to compare losses from any high point for NUMI and DRLL.

Drawdown Indicators

	NUMI	DRLL	Difference
Max Drawdown Largest peak-to-trough decline	-4.72%	-23.73%	+19.01%
Max Drawdown (1Y) Largest decline over 1 year	-2.82%	-16.99%	+14.17%
Max Drawdown (3Y) Largest decline over 3 years	—	-23.73%	—
Current Drawdown Current decline from peak	-1.87%	-4.30%	+2.43%
Average Drawdown Average peak-to-trough decline	-1.32%	-8.14%	+6.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.90%	6.68%	-5.78%

Volatility

NUMI vs. DRLL - Volatility Comparison

The current volatility for Nuveen Municipal Income ETF (NUMI) is 0.85%, while Strive U.S. Energy ETF (DRLL) has a volatility of 6.71%. This indicates that NUMI experiences smaller price fluctuations and is considered to be less risky than DRLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NUMI	DRLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.85%	6.71%	-5.86%
Volatility (6M) Calculated over the trailing 6-month period	2.29%	18.75%	-16.46%
Volatility (1Y) Calculated over the trailing 1-year period	3.31%	23.03%	-19.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.23%	23.80%	-19.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.23%	23.80%	-19.57%

NUMI vs. DRLL - Expense Ratio Comparison

NUMI has a 0.29% expense ratio, which is lower than DRLL's 0.41% expense ratio.

Dividends

NUMI vs. DRLL - Dividend Comparison

NUMI's dividend yield for the trailing twelve months is around 3.68%, more than DRLL's 2.22% yield.

Position	TTM	2025	2024	2023	2022
DRLL Strive U.S. Energy ETF	2.22%	2.99%	3.00%	3.01%	1.18%
NUMI Nuveen Municipal Income ETF	3.32%	3.44%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NUMI and DRLL in my portfolio?

NUMI and DRLL have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NUMI or DRLL?

DRLL has higher volatility (6.71%) compared to NUMI (0.85%). In terms of maximum drawdown, NUMI dropped -4.72% vs DRLL's -23.73%.

Which ETF is better, NUMI or DRLL?

On 1-year performance, DRLL leads with 44.82% vs 5.27% for NUMI. On fees, NUMI is cheaper at 0.29% per year. On volatility, NUMI has been the lower-risk option at 0.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NUMI or DRLL?

Over the 1-year period, DRLL has performed better with a 44.82% return vs 5.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NUMI or DRLL?

NUMI is cheaper with a 0.29% expense ratio, compared with 0.41% for DRLL.

Which ETF pays a higher dividend yield, NUMI or DRLL?

NUMI has the higher dividend yield at 3.32%, compared with 2.22% for DRLL.

What is the main difference between NUMI and DRLL?

NUMI is categorized as Municipal Bonds, while DRLL is Energy Equities. They also come from different issuers: Nuveen and Strive. Their fees differ too: 0.29% for NUMI and 0.41% for DRLL.

Which has better risk-adjusted returns?

NUMI currently has the higher Sharpe Ratio (1.84 vs 1.82), 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.