EMHC vs NUW

Comparison between STATE STREET(R) SPDR(R) BLOOMBERG EMERGING MARKETS USD BOND ETF (EMHC, ETF) and Nuveen AMT-Free Municipal Value Fund (NUW, ETF).

5-Year PerformanceEMHC has outperformed NUW, delivering a return of +1.4% compared to +0.5%

EMHC vs NUW - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	EMHC(ETF)	NUW(ETF)
Net Assets	$272M	$271M
Expense Ratio	0.23%	N/A
Max Drawdown	31.53%	35.85%
Sharpe Ratio	0.96	0.72
5Y Beta	0.24	0.14
5Y Dividends CAGR	43.77%	6.14%

Net Assets

Winner

EMHC

$272M

NUW

$271M

Expense Ratio

EMHC

0.23%

NUW

N/A

Max Drawdown

Winner

EMHC

31.53%

NUW

35.85%

Sharpe Ratio

Winner

EMHC

0.96

NUW

0.72

5Y Beta

EMHC

0.24

Winner

NUW

0.14

5Y Dividends CAGR

Winner

EMHC

43.77%

NUW

6.14%

EMHC vs NUW - Historical Returns

Returns include dividend reinvestment.

Period	EMHC	NUW
1 month	-0.66%	+0.41%
3 months	+0.40%	+0.19%
6 months	+1.36%	+2.13%
1 year	+8.89%	+9.46%
5 years(CAGR)	+1.38%	+0.49%
10 years(CAGR)	N/A	+1.19%
Max(CAGR)	+1.86%	+4.22%

EMHC

-0.66%

Winner

NUW

+0.41%

Winner

EMHC

+0.40%

NUW

+0.19%

EMHC

+1.36%

Winner

NUW

+2.13%

EMHC

+8.89%

Winner

NUW

+9.46%

5Y(CAGR)

Winner

EMHC

+1.38%

NUW

+0.49%

10Y(CAGR)

EMHC

N/A

NUW

+1.19%

Max(CAGR)

EMHC

+1.86%

Winner

NUW

+4.22%

EMHC vs NUW - Annual Returns (2009 - 2026)

Returns include dividend reinvestment.

Year	EMHC	NUW
2026	+1.53%	+1.90%
2025	+13.83%	+9.41%
2024	+4.52%	+3.29%
2023	+9.66%	+2.95%
2022	-16.98%	-15.89%
2021	+1.68%	+5.31%
2020	N/A	+4.40%
2019	N/A	+12.76%
2018	N/A	-9.84%
2017	N/A	+11.83%
2016	N/A	-4.32%
2015	N/A	+6.71%
2014	N/A	+20.77%
2013	N/A	-11.59%
2012	N/A	+7.03%
2011	N/A	+19.47%
2010	N/A	+2.75%
2009	N/A	+9.28%

EMHC vs NUW Drawdown Comparison

The maximum drawdown for EMHC was -28.03%, occurring on Oct 20, 2022. Recovery took 1005 trading sessions.

The maximum drawdown for NUW was -26.42%, occurring on Mar 18, 2020. Recovery took 468 trading sessions.

The current EMHC drawdown is -1.03%. The current NUW drawdown is -1.32%.

Rank	EMHC	NUW
#1	-28.03% Sep 2, 2021 - Sep 5, 2025	-26.42% Aug 21, 2019 - Jun 30, 2021
#2	-4.37% Feb 25, 2026 - Jun 2, 2026	-22.58% Aug 26, 2021 - Oct 25, 2023
#3	-1.24% May 7, 2021 - May 25, 2021	-21.56% Nov 26, 2012 - Dec 26, 2014
#4	-1.23% Apr 15, 2021 - May 7, 2021	-19.59% Dec 15, 2017 - Jul 9, 2019
#5	-1.17% Jun 11, 2021 - Jul 15, 2021	-17.70% Oct 6, 2010 - Oct 7, 2011
#6	-1.09% Jun 18, 2026 - Jul 20, 2026	-17.00% Aug 23, 2016 - Dec 14, 2017
#7	-1.00% Oct 27, 2025 - Nov 26, 2025	-10.55% Feb 28, 2012 - May 29, 2012
#8	-0.94% Sep 11, 2025 - Sep 23, 2025	-8.61% Jan 22, 2015 - Nov 2, 2015
#9	-0.94% Dec 30, 2025 - Jan 23, 2026	-6.02% Dec 28, 2015 - May 13, 2016
#10	-0.87% Jun 2, 2026 - Jun 11, 2026	-4.75% Jul 12, 2019 - Aug 21, 2019
#11	-0.86% Dec 3, 2025 - Dec 16, 2025	-4.68% Aug 6, 2012 - Sep 20, 2012
#12	-0.84% Aug 4, 2021 - Aug 27, 2021	-4.07% Nov 1, 2012 - Nov 20, 2012
#13	-0.65% Jul 20, 2021 - Aug 2, 2021	-3.99% Jul 1, 2016 - Jul 28, 2016
#14	-0.54% Sep 24, 2025 - Oct 9, 2025	-3.72% May 29, 2012 - Jul 16, 2012
#15	-0.42% Jun 2, 2021 - Jun 4, 2021	-3.47% Dec 4, 2015 - Dec 18, 2015

Correlation

Correlation between EMHC and NUW is 0.94 which considered as a very strong positive correlation - the stocks move almost identically together.

0.94

-101

Dividend Comparison (2009 - 2026)

EMHC vs NUW dividend yield comparison.

Year	EMHC	NUW
2026	2.83%	2.38%
2025	6.16%	4.07%
2024	5.95%	3.89%
2023	5.13%	3.58%
2022	5.11%	3.44%
2021	2.97%	3.98%
2020	0.00%	2.85%
2019	0.00%	3.87%
2018	0.00%	5.34%
2017	0.00%	5.33%
2016	0.00%	4.72%
2015	0.00%	4.45%
2014	0.00%	4.62%
2013	0.00%	5.90%
2012	0.00%	4.28%
2011	0.00%	5.17%
2010	0.00%	6.00%
2009	0.00%	3.86%