NAZ vs HYI

Comparison between Nuveen Arizona Quality Municipal Income Fund (NAZ, ETF) and Western Asset High Yield Defined Opportunity Fund Inc (HYI, ETF).

5-Year PerformanceHYI has outperformed NAZ, delivering a return of +1.7% compared to +0.8%

NAZ vs HYI - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	NAZ(ETF)	HYI(ETF)
Net Assets	$149M	$149M
Max Drawdown	48.77%	48.50%
Sharpe Ratio	1.24	-0.63
5Y Beta	0.11	0.24
5Y Dividends CAGR	8.31%	1.72%

Net Assets

NAZ

$149M

HYI

$149M

Max Drawdown

NAZ

48.77%

Winner

HYI

48.50%

Sharpe Ratio

Winner

NAZ

1.24

HYI

-0.63

5Y Beta

Winner

NAZ

0.11

HYI

0.24

5Y Dividends CAGR

Winner

NAZ

8.31%

HYI

1.72%

NAZ vs HYI - Historical Returns

Returns include dividend reinvestment.

Period	NAZ	HYI
1 month	+2.48%	+0.29%
3 months	+6.72%	+0.52%
6 months	+12.39%	+1.53%
1 year	+18.99%	-0.86%
5 years(CAGR)	+0.77%	+1.75%
10 years(CAGR)	+2.54%	+5.35%
Max(CAGR)	+4.43%	+4.62%

Winner

NAZ

+2.48%

HYI

+0.29%

Winner

NAZ

+6.72%

HYI

+0.52%

Winner

NAZ

+12.39%

HYI

+1.53%

Winner

NAZ

+18.99%

HYI

-0.86%

5Y(CAGR)

NAZ

+0.77%

Winner

HYI

+1.75%

10Y(CAGR)

NAZ

+2.54%

Winner

HYI

+5.35%

Max(CAGR)

NAZ

+4.43%

Winner

HYI

+4.62%

NAZ vs HYI - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	NAZ	HYI
2026	+12.15%	-0.51%
2025	+11.54%	+3.47%
2024	+12.88%	+7.19%
2023	-1.90%	+7.84%
2022	-27.11%	-13.47%
2021	+5.02%	+10.82%
2020	+22.04%	+7.09%
2019	+16.46%	+26.70%
2018	-12.82%	-6.90%
2017	+5.58%	+8.07%
2016	-3.17%	+17.18%
2015	+11.35%	-2.30%
2014	+25.72%	-4.39%
2013	-16.80%	+3.50%
2012	+14.38%	+18.60%
2011	+17.63%	-0.27%
2010	+3.58%	-7.98%
2009	+40.86%	N/A
2008	-22.86%	N/A
2007	-4.82%	N/A
2006	-0.29%	N/A
2005	-0.39%	N/A
2004	+0.02%	N/A
2003	+11.61%	N/A
2002	+0.75%	N/A
2001	+6.83%	N/A
2000	+15.21%	N/A
1999	-9.75%	N/A

NAZ vs HYI Drawdown Comparison

The maximum drawdown for NAZ was -38.28%, occurring on Oct 25, 2023. Recovery took 1109 trading sessions.

The maximum drawdown for HYI was -36.03%, occurring on Mar 23, 2020. Recovery took 197 trading sessions.

The current NAZ drawdown is -2.48%. The current HYI drawdown is -5.12%.

Rank	NAZ	HYI
#1	-38.28% Nov 9, 2021 - Apr 14, 2026	-36.03% Feb 18, 2020 - Nov 25, 2020
#2	-34.81% Apr 1, 2004 - Sep 22, 2009	-26.34% Nov 5, 2021 - Feb 18, 2025
#3	-28.08% Jul 6, 2016 - Sep 1, 2020	-18.70% Jul 8, 2011 - Jan 25, 2012
#4	-27.21% Jan 28, 2013 - Jan 28, 2015	-18.60% Jun 30, 2014 - Jul 11, 2016
#5	-20.06% Oct 29, 2010 - Dec 30, 2011	-10.69% May 15, 2013 - May 8, 2014
#6	-13.78% Jul 11, 2002 - Jun 12, 2003	-10.68% Sep 27, 2012 - Mar 13, 2013
#7	-13.30% Jul 15, 2003 - Feb 2, 2004	-9.67% Oct 17, 2018 - Feb 1, 2019
#8	-11.33% Nov 4, 1999 - Dec 11, 2000	-8.88% Nov 1, 2010 - May 12, 2011
#9	-6.87% Jan 14, 2010 - Aug 12, 2010	-8.19% Sep 16, 2025 - Mar 30, 2026
#10	-6.81% Dec 4, 2020 - May 28, 2021	-7.44% Mar 30, 2012 - Jul 9, 2012
#11	-5.89% Oct 6, 2009 - Jan 6, 2010	-6.52% Sep 30, 2016 - Jan 3, 2017
#12	-4.81% Mar 5, 2002 - Apr 23, 2002	-5.74% Feb 25, 2025 - May 29, 2025
#13	-4.69% Oct 3, 2012 - Jan 9, 2013	-4.59% Oct 13, 2017 - Oct 17, 2018
#14	-4.65% Feb 2, 2015 - Apr 17, 2015	-4.13% Aug 1, 2019 - Sep 18, 2019
#15	-4.64% Mar 13, 2012 - Mar 21, 2012	-4.01% May 3, 2019 - Jun 19, 2019

Correlation

Correlation between NAZ and HYI is 0.83 which considered as a strong positive correlation - the stocks tend to move together.

0.83

-101

Dividend Comparison (2000 - 2026)

NAZ vs HYI dividend yield comparison.

Year	NAZ	HYI
2026	2.52%	4.47%
2025	7.09%	10.22%
2024	6.20%	9.64%
2023	3.63%	9.40%
2022	5.01%	9.09%
2021	3.75%	7.19%
2020	3.52%	7.35%
2019	3.82%	6.87%
2018	4.52%	8.10%
2017	4.65%	7.81%
2016	5.53%	8.73%
2015	5.25%	9.36%
2014	5.53%	8.75%
2013	6.35%	8.98%
2012	5.01%	9.52%
2011	5.35%	10.65%
2010	5.76%	0.80%
2009	5.11%	0.00%
2008	6.72%	0.00%
2007	4.90%	0.00%
2006	4.62%	0.00%
2005	5.41%	0.00%
2004	5.95%	0.00%
2003	5.68%	0.00%
2002	5.93%	0.00%
2001	5.35%	0.00%
2000	2.21%	0.00%