NURE vs. NHYM

Last updated Jun 24, 2026

NURE (Nuveen Short-Term REIT ETF) and NHYM (Nuveen High Yield Municipal Income ETF) are both exchange-traded funds - NURE is a REIT fund tracking the Dow Jones U.S. Select Short-Term REIT Index, while NHYM is a High Yield Muni fund actively managed by Nuveen. NURE is passively managed, while NHYM is actively managed. Over the past year, NURE returned 10.47% vs 7.77% for NHYM. At a 0.24 correlation, their price movements are largely independent. Both charge a 0.35% expense ratio.

Performance

NURE vs. NHYM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Short-Term REIT ETF (NURE) 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, NURE achieves a 14.93% return, which is significantly higher than NHYM's 2.69% return.

NURE

• 1D: 0.84%
• 1M: 4.01%
• YTD: 14.93%
• 6M: 15.97%
• 1Y: 10.47%
• 3Y*: 7.27%
• 5Y*: 1.78%
• 10Y*: —

NHYM

• 1D: -0.10%
• 1M: 1.47%
• YTD: 2.69%
• 6M: 2.75%
• 1Y: 7.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NURE vs. NHYM - Yearly Performance Comparison

	2026 (YTD)	2025
NURE Nuveen Short-Term REIT ETF	14.93%	-4.90%
NHYM Nuveen High Yield Municipal Income ETF	2.69%	3.19%

Correlation

The correlation between NURE and NHYM is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (All Time) Calculated using the full available price history since Jan 23, 2025	0.24

Return for Risk

NURE vs. NHYM — Risk / Return Rank

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

NURE

NURE Risk / Return Rank: 21
NURE Sharpe Ratio Rank: 20
NURE Sortino Ratio Rank: 20
NURE Omega Ratio Rank: 19
NURE Calmar Ratio Rank: 25
NURE Martin Ratio Rank: 21

NHYM

NHYM Risk / Return Rank: 63
NHYM Sharpe Ratio Rank: 61
NHYM Sortino Ratio Rank: 69
NHYM Omega Ratio Rank: 71
NHYM Calmar Ratio Rank: 62
NHYM Martin Ratio Rank: 52

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.

NURE vs. NHYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Short-Term REIT ETF (NURE) 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.

	NURE	NHYM	Difference
Sharpe ratio: Return per unit of total volatility	0.66	1.84	-1.18
Sortino ratio: Return per unit of downside risk	1.05	2.84	-1.79
Omega ratio: Gain probability vs. loss probability	1.12	1.38	-0.26
Calmar ratio: Return relative to maximum drawdown	1.15	2.82	-1.67
Martin ratio: Return relative to average drawdown	2.39	8.26	-5.86

NURE vs. NHYM - Sharpe Ratio Comparison

The current NURE Sharpe Ratio is 0.66, which is lower than the NHYM Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of NURE 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

NURE vs. NHYM - Drawdown Comparison

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

Drawdown Indicators

	NURE	NHYM	Difference
Max Drawdown Largest peak-to-trough decline	-46.05%	-6.11%	-39.94%
Max Drawdown (1Y) Largest decline over 1 year	-9.13%	-2.77%	-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	-9.39%	-0.32%	-9.07%
Average Drawdown Average peak-to-trough decline	-12.28%	-1.67%	-10.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.38%	0.94%	+3.44%

Volatility

NURE vs. NHYM - Volatility Comparison

Nuveen Short-Term REIT ETF (NURE) has a higher volatility of 4.29% compared to Nuveen High Yield Municipal Income ETF (NHYM) at 0.99%. This indicates that NURE'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

	NURE	NHYM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.29%	0.99%	+3.30%
Volatility (6M) Calculated over the trailing 6-month period	11.62%	2.65%	+8.97%
Volatility (1Y) Calculated over the trailing 1-year period	16.02%	4.25%	+11.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.67%	5.83%	+13.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.78%	5.83%	+15.95%

NURE vs. NHYM - Expense Ratio Comparison

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

Dividends

NURE vs. NHYM - Dividend Comparison

NURE's dividend yield for the trailing twelve months is around 4.33%, less than NHYM's 4.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%	0.00%
NURE Nuveen Short-Term REIT ETF	4.33%	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 NURE and NHYM in my portfolio?

NURE and NHYM have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NURE or NHYM?

NURE has higher volatility (4.29%) compared to NHYM (0.99%). In terms of maximum drawdown, NURE dropped -46.05% vs NHYM's -6.11%.

Which ETF is better, NURE or NHYM?

On 1-year performance, NURE leads with 10.47% vs 7.77% for NHYM. Both ETFs have the same 0.35% expense ratio. On volatility, NHYM has been the lower-risk option at 0.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NURE or NHYM?

Over the 1-year period, NURE has performed better with a 10.47% return vs 7.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NURE or NHYM?

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

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

NHYM has the higher dividend yield at 4.53%, compared with 4.33% for NURE.

What is the main difference between NURE and NHYM?

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

Which has better risk-adjusted returns?

NHYM currently has the higher Sharpe Ratio (1.84 vs 0.66), 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.