AFSM vs NMI

Comparison between FIRST TRUST ACTIVE FACTOR SMALL CAP ETF (AFSM, ETF) and Nuveen Municipal Income Fund (NMI, ETF).

5-Year PerformanceAFSM has outperformed NMI, delivering a return of +9.9% compared to +1.4%

AFSM vs NMI - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	AFSM(ETF)	NMI(ETF)
Net Assets	$120M	$120M
Expense Ratio	0.75%	N/A
Max Drawdown	43.54%	37.13%
Sharpe Ratio	1.18	0.49
5Y Beta	1.01	0.07
P/E Ratio	18.33	N/A
Forward P/E	13.07	N/A
5Y Dividends CAGR	17.16%	4.84%
5Y EPS CAGR	17.89%	N/A
Debt to Equity	-30.45%	N/A
P/S Ratio	1.21	N/A
P/B Ratio	2.23	N/A

Net Assets

Winner

AFSM

$120M

NMI

$120M

Expense Ratio

AFSM

0.75%

NMI

N/A

Max Drawdown

AFSM

43.54%

Winner

NMI

37.13%

Sharpe Ratio

Winner

AFSM

1.18

NMI

0.49

5Y Beta

AFSM

1.01

Winner

NMI

0.07

P/E Ratio

AFSM

18.33

NMI

N/A

Forward P/E

AFSM

13.07

NMI

N/A

5Y Dividends CAGR

Winner

AFSM

17.16%

NMI

4.84%

5Y EPS CAGR

AFSM

17.89%

NMI

N/A

Debt to Equity

AFSM

-30.45%

NMI

N/A

P/S Ratio

AFSM

1.21

NMI

N/A

P/B Ratio

AFSM

2.23

NMI

N/A

AFSM vs NMI - Historical Returns

Returns include dividend reinvestment.

Period	AFSM	NMI
1 month	+2.22%	-3.18%
3 months	+5.43%	-1.68%
6 months	+16.16%	+6.40%
1 year	+27.19%	+11.60%
5 years(CAGR)	+9.91%	+1.44%
10 years(CAGR)	N/A	+2.21%
Max(CAGR)	+11.89%	+4.66%

Winner

AFSM

+2.22%

NMI

-3.18%

Winner

AFSM

+5.43%

NMI

-1.68%

Winner

AFSM

+16.16%

NMI

+6.40%

Winner

AFSM

+27.19%

NMI

+11.60%

5Y(CAGR)

Winner

AFSM

+9.91%

NMI

+1.44%

10Y(CAGR)

AFSM

N/A

NMI

+2.21%

Max(CAGR)

Winner

AFSM

+11.89%

NMI

+4.66%

AFSM vs NMI - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	AFSM	NMI
2026	+23.43%	+7.27%
2025	+9.99%	+9.47%
2024	+10.93%	+6.56%
2023	+22.85%	-1.27%
2022	-17.86%	-15.15%
2021	+27.36%	+4.22%
2020	+8.73%	+4.89%
2019	+2.63%	+14.75%
2018	N/A	-8.06%
2017	N/A	+7.78%
2016	N/A	-3.15%
2015	N/A	+5.68%
2014	N/A	+23.72%
2013	N/A	-13.55%
2012	N/A	+10.45%
2011	N/A	+18.12%
2010	N/A	-0.83%
2009	N/A	+18.46%
2008	N/A	-4.73%
2007	N/A	+3.15%
2006	N/A	+8.62%
2005	N/A	+10.00%
2004	N/A	+8.28%
2003	N/A	+2.33%
2002	N/A	-3.31%
2001	N/A	+0.15%
2000	N/A	+16.51%
1999	N/A	-3.48%

AFSM vs NMI Drawdown Comparison

The maximum drawdown for AFSM was -43.54%, occurring on Mar 23, 2020. Recovery took 224 trading sessions.

The maximum drawdown for NMI was -28.92%, occurring on Oct 24, 2022. Recovery took 890 trading sessions.

The current AFSM drawdown is -2.38%. The current NMI drawdown is -6.24%.

Rank	AFSM	NMI
#1	-43.54% Jan 16, 2020 - Dec 4, 2020	-28.92% Dec 21, 2021 - Jul 11, 2025
#2	-28.27% Nov 16, 2021 - Feb 15, 2024	-22.57% Mar 13, 2013 - Dec 11, 2014
#3	-25.07% Nov 11, 2024 - Sep 11, 2025	-20.89% May 30, 2008 - Apr 27, 2009
#4	-9.56% Feb 26, 2026 - Apr 14, 2026	-19.97% Mar 5, 2020 - Mar 30, 2020
#5	-9.26% Jul 31, 2024 - Oct 14, 2024	-18.02% Apr 7, 2017 - Aug 15, 2019
#6	-8.21% Mar 15, 2021 - Apr 26, 2021	-17.54% Aug 29, 2001 - May 20, 2003
#7	-8.17% Feb 12, 2021 - Mar 12, 2021	-16.27% Oct 11, 2016 - Apr 7, 2017
#8	-8.05% Sep 18, 2025 - Dec 10, 2025	-15.15% Nov 5, 2010 - Sep 30, 2011
#9	-7.71% Jul 1, 2021 - Aug 27, 2021	-13.50% Mar 19, 2004 - Jan 24, 2005
#10	-7.54% Mar 28, 2024 - May 15, 2024	-13.10% Mar 30, 2020 - Aug 31, 2020
#11	-6.30% Apr 27, 2021 - Jun 1, 2021	-12.93% May 6, 2015 - Dec 22, 2015
#12	-5.51% May 15, 2024 - Jul 15, 2024	-11.67% May 22, 2003 - Mar 19, 2004
#13	-4.91% Sep 2, 2021 - Oct 20, 2021	-11.64% Nov 8, 1999 - Feb 16, 2000
#14	-4.84% Jun 8, 2021 - Jul 1, 2021	-11.23% Aug 19, 2005 - Nov 30, 2006
#15	-4.45% Jan 22, 2021 - Feb 4, 2021	-10.96% Apr 21, 2026 - Jun 10, 2026

Correlation

Correlation between AFSM and NMI is 0.61 which considered as a moderate positive correlation - the stocks show some tendency to move together.

0.61

-101

Dividend Comparison (1999 - 2026)

AFSM vs NMI dividend yield comparison.

Year	AFSM	NMI
2026	0.30%	2.93%
2025	0.58%	4.59%
2024	0.58%	4.63%
2023	0.92%	4.04%
2022	1.28%	3.51%
2021	0.35%	3.22%
2020	0.53%	3.53%
2019	0.32%	4.15%
2018	0.00%	5.12%
2017	0.00%	4.21%
2016	0.00%	4.45%
2015	0.00%	4.28%
2014	0.00%	4.53%
2013	0.00%	5.68%
2012	0.00%	4.31%
2011	0.00%	4.94%
2010	0.00%	5.51%
2009	0.00%	4.95%
2008	0.00%	5.31%
2007	0.00%	4.85%
2006	0.00%	4.80%
2005	0.00%	5.14%
2004	0.00%	5.38%
2003	0.00%	5.95%
2002	0.00%	6.08%
2001	0.00%	6.28%
2000	0.00%	6.13%
1999	0.00%	1.14%