WINC.AS vs. NMAI
WINC.AS (iShares World Equity High Income UCITS ETF USD Inc) and NMAI (Nuveen Multi-Asset Income Fund) are both funds - WINC.AS is a Global Equity Income fund actively managed by iShares, while NMAI is a Global Allocation fund actively managed by Nuveen. Both are actively managed. Over the past year, WINC.AS returned 25.00% vs 24.69% for NMAI. At a 0.42 correlation, their price movements are largely independent. WINC.AS charges 0.35%/yr vs 2.91%/yr for NMAI.
Performance
WINC.AS vs. NMAI - Performance Comparison
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Returns By Period
In the year-to-date period, WINC.AS achieves a 8.19% return, which is significantly lower than NMAI's 11.74% return.
WINC.AS
- 1D
- -0.54%
- 1M
- 3.21%
- YTD
- 8.19%
- 6M
- 9.90%
- 1Y
- 25.00%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NMAI
- 1D
- -1.06%
- 1M
- 1.84%
- YTD
- 11.74%
- 6M
- 10.96%
- 1Y
- 24.69%
- 3Y*
- 20.22%
- 5Y*
- —
- 10Y*
- —
WINC.AS vs. NMAI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
WINC.AS iShares World Equity High Income UCITS ETF USD Inc | 8.19% | 21.56% | 8.92% |
NMAI Nuveen Multi-Asset Income Fund | 11.74% | 20.03% | 8.25% |
Correlation
The correlation between WINC.AS and NMAI is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2024 | 0.42 |
The correlation between WINC.AS and NMAI shifts across timeframes, from 0.42 (all time) to 0.53 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
WINC.AS vs. NMAI — Risk / Return Rank
WINC.AS
NMAI
WINC.AS vs. NMAI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares World Equity High Income UCITS ETF USD Inc (WINC.AS) and Nuveen Multi-Asset Income Fund (NMAI). 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.
| WINC.AS | NMAI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.39 | ||
| Sortino ratioReturn per unit of downside risk | +0.90 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.37 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.68 | 2.09 | +1.59 |
| Martin ratioReturn relative to average drawdown | 15.56 | 9.00 | +6.56 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| WINC.AS | NMAI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.35 | 1.96 | +0.39 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.58 | 0.36 | +1.22 |
Drawdowns
WINC.AS vs. NMAI - Drawdown Comparison
The maximum WINC.AS drawdown since its inception was -14.81%, smaller than the maximum NMAI drawdown of -35.61%. Use the drawdown chart below to compare losses from any high point for WINC.AS and NMAI.
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Drawdown Indicators
| WINC.AS | NMAI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.81% | -35.61% | +20.80% |
Max Drawdown (1Y)Largest decline over 1 year | -6.77% | -11.88% | +5.11% |
Max Drawdown (3Y)Largest decline over 3 years | — | -13.05% | — |
Current DrawdownCurrent decline from peak | -0.98% | -1.83% | +0.85% |
Average DrawdownAverage peak-to-trough decline | -1.54% | -12.55% | +11.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.60% | 2.75% | -1.15% |
Volatility
WINC.AS vs. NMAI - Volatility Comparison
The current volatility for iShares World Equity High Income UCITS ETF USD Inc (WINC.AS) is 3.10%, while Nuveen Multi-Asset Income Fund (NMAI) has a volatility of 3.97%. This indicates that WINC.AS experiences smaller price fluctuations and is considered to be less risky than NMAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WINC.AS | NMAI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.10% | 3.97% | -0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 8.24% | 10.70% | -2.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.58% | 12.63% | -2.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.85% | 16.58% | -2.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.85% | 16.58% | -2.73% |
WINC.AS vs. NMAI - Expense Ratio Comparison
WINC.AS has a 0.35% expense ratio, which is lower than NMAI's 2.91% expense ratio.
Dividends
WINC.AS vs. NMAI - Dividend Comparison
WINC.AS's dividend yield for the trailing twelve months is around 9.70%, less than NMAI's 10.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
NMAI Nuveen Multi-Asset Income Fund | 10.40% | 9.89% | 13.73% | 10.57% | 19.45% | 1.88% |
WINC.AS iShares World Equity High Income UCITS ETF USD Inc | 9.70% | 9.38% | 4.88% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
WINC.AS and NMAI have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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