NUMV vs. NHYM

Last updated Jun 4, 2026

NUMV (Nuveen ESG Mid-Cap Value ETF) and NHYM (Nuveen High Yield Municipal Income ETF) are both exchange-traded funds - NUMV is a Mid Cap Value Equities fund tracking the TIAA ESG USA Mid-Cap Value Index, while NHYM is a High Yield Muni fund actively managed by Nuveen. NUMV is passively managed, while NHYM is actively managed. Over the past year, NUMV returned 23.74% vs 8.76% for NHYM. At a 0.22 correlation, their price movements are largely independent. NUMV charges 0.31%/yr vs 0.35%/yr for NHYM.

Performance

NUMV vs. NHYM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen ESG Mid-Cap Value ETF (NUMV) 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, NUMV achieves a 9.74% return, which is significantly higher than NHYM's 2.77% return.

NUMV

• 1D: -0.42%
• 1M: 4.09%
• YTD: 9.74%
• 6M: 11.20%
• 1Y: 23.74%
• 3Y*: 16.96%
• 5Y*: 6.55%
• 10Y*: —

NHYM

• 1D: -0.06%
• 1M: 1.06%
• YTD: 2.77%
• 6M: 3.27%
• 1Y: 8.76%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NUMV vs. NHYM - Yearly Performance Comparison

	2026 (YTD)	2025
NUMV Nuveen ESG Mid-Cap Value ETF	9.74%	9.67%
NHYM Nuveen High Yield Municipal Income ETF	2.77%	3.25%

Correlation

The correlation between NUMV and NHYM is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (All Time) Calculated using the full available price history since Jan 24, 2025	0.22

Return for Risk

NUMV vs. NHYM — Risk / Return Rank

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

NUMV

NUMV Risk / Return Rank: 56
NUMV Sharpe Ratio Rank: 56
NUMV Sortino Ratio Rank: 59
NUMV Omega Ratio Rank: 53
NUMV Calmar Ratio Rank: 55
NUMV Martin Ratio Rank: 59

NHYM

NHYM Risk / Return Rank: 63
NHYM Sharpe Ratio Rank: 60
NHYM Sortino Ratio Rank: 69
NHYM Omega Ratio Rank: 70
NHYM Calmar Ratio Rank: 65
NHYM Martin Ratio Rank: 54

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.

NUMV vs. NHYM - Risk-Adjusted Trends Comparison

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

	NUMV	NHYM	Difference
Sharpe ratio: Return per unit of total volatility	1.92	2.00	-0.09
Sortino ratio: Return per unit of downside risk	2.79	3.10	-0.31
Omega ratio: Gain probability vs. loss probability	1.33	1.41	-0.08
Calmar ratio: Return relative to maximum drawdown	2.74	3.18	-0.44
Martin ratio: Return relative to average drawdown	10.37	9.29	+1.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NUMV vs. NHYM - Sharpe Ratio Comparison

The current NUMV Sharpe Ratio is 1.92, which is comparable to the NHYM Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of NUMV 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.

Sharpe Ratios by Period

	NUMV	NHYM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.92	2.00	-0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.76	-0.31

Drawdowns

NUMV vs. NHYM - Drawdown Comparison

The maximum NUMV drawdown since its inception was -43.46%, which is greater than NHYM's maximum drawdown of -6.11%. Use the drawdown chart below to compare losses from any high point for NUMV and NHYM.

Drawdown Indicators

	NUMV	NHYM	Difference
Max Drawdown Largest peak-to-trough decline	-43.46%	-6.11%	-37.35%
Max Drawdown (1Y) Largest decline over 1 year	-8.71%	-2.77%	-5.94%
Max Drawdown (3Y) Largest decline over 3 years	-19.53%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.71%	—	—
Current Drawdown Current decline from peak	-0.42%	-0.06%	-0.36%
Average Drawdown Average peak-to-trough decline	-6.89%	-1.73%	-5.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.29%	0.95%	+1.34%

Volatility

NUMV vs. NHYM - Volatility Comparison

Nuveen ESG Mid-Cap Value ETF (NUMV) has a higher volatility of 2.97% compared to Nuveen High Yield Municipal Income ETF (NHYM) at 1.34%. This indicates that NUMV'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

	NUMV	NHYM	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.97%	1.34%	+1.63%
Volatility (6M) Calculated over the trailing 6-month period	9.14%	2.61%	+6.53%
Volatility (1Y) Calculated over the trailing 1-year period	12.49%	4.39%	+8.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.39%	5.93%	+11.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.77%	5.93%	+13.84%

NUMV vs. NHYM - Expense Ratio Comparison

NUMV has a 0.31% expense ratio, which is lower than NHYM's 0.35% expense ratio.

Dividends

NUMV vs. NHYM - Dividend Comparison

NUMV's dividend yield for the trailing twelve months is around 1.40%, less than NHYM's 4.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
NHYM Nuveen High Yield Municipal Income ETF	4.53%	4.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NUMV Nuveen ESG Mid-Cap Value ETF	1.40%	1.53%	1.81%	2.20%	5.78%	6.62%	1.38%	2.40%	4.01%	0.83%

Frequently Asked Questions

Can I hold both NUMV and NHYM in my portfolio?

NUMV and NHYM have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NUMV or NHYM?

NUMV has higher volatility (2.97%) compared to NHYM (1.34%). In terms of maximum drawdown, NUMV dropped -43.46% vs NHYM's -6.11%.

Which ETF is better, NUMV or NHYM?

On 1-year performance, NUMV leads with 23.74% vs 8.76% for NHYM. On fees, NUMV is cheaper at 0.31% per year. On volatility, NHYM has been the lower-risk option at 1.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NUMV or NHYM?

Over the 1-year period, NUMV has performed better with a 23.74% return vs 8.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NUMV or NHYM?

NUMV is cheaper with a 0.31% expense ratio, compared with 0.35% for NHYM.

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

NHYM has the higher dividend yield at 4.53%, compared with 1.40% for NUMV.

What is the main difference between NUMV and NHYM?

NUMV is categorized as Mid Cap Value Equities, while NHYM is High Yield Muni. Their fees differ too: 0.31% for NUMV and 0.35% for NHYM.

Which has better risk-adjusted returns?

NHYM currently has the higher Sharpe Ratio (2.00 vs 1.92), 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.