NCA vs SMB

Comparison between Nuveen California Municipal Value Fund. (NCA, ETF) and VANECK SHORT MUNI ETF (SMB, ETF).

5-Year PerformanceSMB has outperformed NCA, delivering a return of +1.2% compared to +1.2%

NCA vs SMB - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	NCA(ETF)	SMB(ETF)
Net Assets	$304M	$305M
Expense Ratio	N/A	0.07%
Max Drawdown	31.70%	12.64%
Sharpe Ratio	0.77	0.11
5Y Beta	0.15	0.00
5Y Dividends CAGR	3.62%	13.74%

Net Assets

NCA

$304M

Winner

SMB

$305M

Expense Ratio

NCA

N/A

SMB

0.07%

Max Drawdown

NCA

31.70%

Winner

SMB

12.64%

Sharpe Ratio

Winner

NCA

0.77

SMB

0.11

5Y Beta

NCA

0.15

Winner

SMB

0.00

5Y Dividends CAGR

NCA

3.62%

Winner

SMB

13.74%

NCA vs SMB - Historical Returns

Returns include dividend reinvestment.

Period	NCA	SMB
1 month	-0.01%	+0.58%
3 months	-0.28%	+0.32%
6 months	+6.68%	+1.37%
1 year	+12.67%	+3.78%
5 years(CAGR)	+1.17%	+1.19%
10 years(CAGR)	+2.02%	+1.55%
Max(CAGR)	+4.90%	+2.04%

NCA

-0.01%

Winner

SMB

+0.58%

NCA

-0.28%

Winner

SMB

+0.32%

Winner

NCA

+6.68%

SMB

+1.37%

Winner

NCA

+12.67%

SMB

+3.78%

5Y(CAGR)

NCA

+1.17%

Winner

SMB

+1.19%

10Y(CAGR)

Winner

NCA

+2.02%

SMB

+1.55%

Max(CAGR)

Winner

NCA

+4.90%

SMB

+2.04%

NCA vs SMB - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	NCA	SMB
2026	+3.85%	+0.55%
2025	+10.13%	+4.55%
2024	-0.80%	+2.47%
2023	+8.96%	+3.14%
2022	-13.22%	-4.35%
2021	-2.16%	+0.06%
2020	+4.73%	+3.36%
2019	+19.52%	+4.48%
2018	-7.83%	+1.75%
2017	+1.75%	+0.69%
2016	+0.41%	-0.39%
2015	+8.06%	+1.20%
2014	+19.53%	+1.09%
2013	-5.95%	+0.53%
2012	+10.54%	+1.47%
2011	+16.12%	+5.37%
2010	+0.45%	+1.32%
2009	+10.05%	+7.86%
2008	-3.00%	+2.14%
2007	-5.56%	N/A
2006	+12.17%	N/A
2005	+9.35%	N/A
2004	+6.39%	N/A
2003	+3.67%	N/A
2002	+1.42%	N/A
2001	+11.60%	N/A
2000	+21.02%	N/A
1999	-8.03%	N/A

NCA vs SMB Drawdown Comparison

The maximum drawdown for NCA was -23.58%, occurring on Oct 10, 2008. Recovery took 580 trading sessions.

The maximum drawdown for SMB was -12.64%, occurring on Mar 19, 2020. Recovery took 65 trading sessions.

The current NCA drawdown is -4.95%. The current SMB drawdown is -0.19%.

Rank	NCA	SMB
#1	-23.58% May 15, 2007 - Sep 1, 2009	-12.64% Mar 9, 2020 - Jun 10, 2020
#2	-22.97% Sep 16, 2021 - Jan 7, 2026	-7.48% Jul 20, 2021 - Aug 20, 2024
#3	-19.28% Mar 3, 2020 - Sep 14, 2020	-5.58% Sep 11, 2008 - Jan 6, 2009
#4	-14.95% Jan 24, 2013 - Apr 25, 2014	-4.11% Aug 26, 2010 - May 17, 2011
#5	-14.28% Sep 2, 2010 - Nov 9, 2011	-4.10% Aug 2, 2016 - Aug 4, 2017
#6	-13.49% Sep 22, 2016 - Jul 9, 2019	-4.07% May 1, 2013 - Feb 14, 2014
#7	-13.48% Nov 2, 1999 - Mar 30, 2000	-3.84% Jan 29, 2009 - May 22, 2009
#8	-12.31% Jun 26, 2003 - Feb 12, 2004	-2.46% Aug 30, 2017 - Dec 24, 2018
#9	-12.29% Feb 17, 2004 - Nov 16, 2004	-2.37% Apr 10, 2008 - Aug 12, 2008
#10	-10.28% Sep 30, 2002 - Jun 12, 2003	-1.96% Oct 2, 2009 - Nov 27, 2009
#11	-9.19% Jan 20, 2021 - Jul 29, 2021	-1.80% Feb 28, 2025 - May 23, 2025
#12	-8.33% Mar 30, 2000 - Jun 9, 2000	-1.79% Feb 5, 2015 - Oct 16, 2015
#13	-7.94% Mar 7, 2001 - Jul 23, 2001	-1.62% May 22, 2009 - Jul 13, 2009
#14	-7.88% Mar 1, 2012 - May 4, 2012	-1.53% Jan 8, 2009 - Jan 12, 2009
#15	-7.72% Aug 10, 2000 - Jan 4, 2001	-1.49% Mar 12, 2010 - May 26, 2010

Correlation

Correlation between NCA and SMB is 0.95 which considered as a very strong positive correlation - the stocks move almost identically together.

0.95

-101

Dividend Comparison (2000 - 2026)

NCA vs SMB dividend yield comparison.

Year	NCA	SMB
2026	1.61%	1.13%
2025	3.89%	2.63%
2024	4.12%	2.38%
2023	3.88%	1.83%
2022	3.66%	1.32%
2021	3.02%	1.24%
2020	2.98%	1.50%
2019	3.21%	1.58%
2018	3.79%	1.49%
2017	5.33%	1.23%
2016	4.36%	1.12%
2015	4.34%	1.13%
2014	4.45%	1.21%
2013	5.11%	1.38%
2012	4.69%	1.64%
2011	4.81%	1.93%
2010	5.32%	2.40%
2009	5.03%	2.38%
2008	6.90%	2.34%
2007	5.13%	0.00%
2006	4.78%	0.00%
2005	5.39%	0.00%
2004	6.01%	0.00%
2003	5.97%	0.00%
2002	5.49%	0.00%
2001	5.17%	0.00%
2000	2.31%	0.00%