NAZ vs MFEM

Comparison between Nuveen Arizona Quality Municipal Income Fund (NAZ, ETF) and PIMCO RAFI DYNAMIC MULTI-FACTOR EMERGING MARKETS EQUITY ETF (MFEM, ETF).

5-Year PerformanceMFEM has outperformed NAZ, delivering a return of +7.6% compared to +0.6%

NAZ vs MFEM - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	NAZ(ETF)	MFEM(ETF)
Net Assets	$150M	$150M
Expense Ratio	N/A	0.49%
Max Drawdown	48.77%	48.84%
Sharpe Ratio	0.80	1.15
5Y Beta	0.12	0.75
5Y Dividends CAGR	7.61%	6.35%

Net Assets

Winner

NAZ

$150M

MFEM

$150M

Expense Ratio

NAZ

N/A

MFEM

0.49%

Max Drawdown

Winner

NAZ

48.77%

MFEM

48.84%

Sharpe Ratio

NAZ

0.80

Winner

MFEM

1.15

5Y Beta

Winner

NAZ

0.12

MFEM

0.75

5Y Dividends CAGR

Winner

NAZ

7.61%

MFEM

6.35%

NAZ vs MFEM - Historical Returns

Returns include dividend reinvestment.

Period	NAZ	MFEM
1 month	+0.65%	-7.15%
3 months	+2.47%	+1.65%
6 months	+8.37%	+9.70%
1 year	+14.38%	+29.45%
5 years(CAGR)	+0.61%	+7.63%
10 years(CAGR)	+1.69%	+7.13%
Max(CAGR)	+4.32%	+7.13%

Winner

NAZ

+0.65%

MFEM

-7.15%

Winner

NAZ

+2.47%

MFEM

+1.65%

NAZ

+8.37%

Winner

MFEM

+9.70%

NAZ

+14.38%

Winner

MFEM

+29.45%

5Y(CAGR)

NAZ

+0.61%

Winner

MFEM

+7.63%

10Y(CAGR)

NAZ

+1.69%

Winner

MFEM

+7.13%

Max(CAGR)

NAZ

+4.32%

Winner

MFEM

+7.13%

NAZ vs MFEM - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	NAZ	MFEM
2026	+9.33%	+17.17%
2025	+11.54%	+25.82%
2024	+12.88%	+6.16%
2023	-1.90%	+14.55%
2022	-27.11%	-20.63%
2021	+5.02%	+10.12%
2020	+22.04%	+9.82%
2019	+16.46%	+14.99%
2018	-12.82%	-15.89%
2017	+5.58%	+4.82%
2016	-3.17%	N/A
2015	+11.35%	N/A
2014	+25.72%	N/A
2013	-16.80%	N/A
2012	+14.38%	N/A
2011	+17.63%	N/A
2010	+3.58%	N/A
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 MFEM Drawdown Comparison

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

The maximum drawdown for MFEM was -43.32%, occurring on Mar 23, 2020. Recovery took 735 trading sessions.

The current NAZ drawdown is -4.93%. The current MFEM drawdown is -10.46%.

Rank	NAZ	MFEM
#1	-38.28% Nov 9, 2021 - Apr 14, 2026	-43.32% Jan 26, 2018 - Dec 28, 2020
#2	-34.81% Apr 1, 2004 - Sep 22, 2009	-31.39% Jun 4, 2021 - Sep 26, 2024
#3	-28.08% Jul 6, 2016 - Sep 1, 2020	-19.22% Oct 7, 2024 - Jun 24, 2025
#4	-27.21% Jan 28, 2013 - Jan 28, 2015	-12.86% Feb 25, 2026 - Apr 30, 2026
#5	-20.06% Oct 29, 2010 - Dec 30, 2011	-12.71% Jun 2, 2026 - Jul 20, 2026
#6	-13.78% Jul 11, 2002 - Jun 12, 2003	-7.46% Feb 12, 2021 - Apr 27, 2021
#7	-13.30% Jul 15, 2003 - Feb 2, 2004	-6.04% Jan 21, 2021 - Feb 9, 2021
#8	-11.33% Nov 4, 1999 - Dec 11, 2000	-6.02% May 11, 2026 - May 26, 2026
#9	-6.87% Jan 14, 2010 - Aug 12, 2010	-4.76% May 7, 2021 - May 28, 2021
#10	-6.81% Dec 4, 2020 - May 28, 2021	-4.46% Sep 17, 2025 - Oct 20, 2025
#11	-6.52% Jun 5, 2026 - Jun 29, 2026	-4.16% Nov 12, 2025 - Dec 26, 2025
#12	-5.89% Oct 6, 2009 - Jan 6, 2010	-3.96% Sep 11, 2017 - Oct 16, 2017
#13	-4.81% Mar 5, 2002 - Apr 23, 2002	-3.68% Nov 24, 2017 - Dec 22, 2017
#14	-4.69% Oct 3, 2012 - Jan 9, 2013	-3.64% Jul 23, 2025 - Aug 12, 2025
#15	-4.65% Feb 2, 2015 - Apr 17, 2015	-3.51% Jan 29, 2026 - Feb 9, 2026

Correlation

Correlation between NAZ and MFEM is 0.67 which considered as a moderate positive correlation - the stocks show some tendency to move together.

0.67

-101

Dividend Comparison (2000 - 2026)

NAZ vs MFEM dividend yield comparison.

Year	NAZ	MFEM
2026	3.60%	1.25%
2025	7.09%	2.77%
2024	6.20%	5.89%
2023	3.63%	4.01%
2022	5.01%	7.01%
2021	3.75%	29.96%
2020	3.52%	1.70%
2019	3.82%	2.37%
2018	4.52%	1.18%
2017	4.65%	0.21%
2016	5.53%	0.00%
2015	5.25%	0.00%
2014	5.53%	0.00%
2013	6.35%	0.00%
2012	5.01%	0.00%
2011	5.35%	0.00%
2010	5.76%	0.00%
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%