NEA vs SHM

Comparison between Nuveen AMT-Free Quality Municipal Income Fund (NEA, ETF) and SPDR Nuveen Bloomberg Short Term Municipal Bond ETF (SHM, ETF).

5-Year PerformanceSHM has outperformed NEA, delivering a return of +0.9% compared to +0.4%

NEA vs SHM - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	NEA(ETF)	SHM(ETF)
Net Assets	$3.40B	$3.40B
Expense Ratio	N/A	0.20%
Max Drawdown	48.25%	11.61%
Sharpe Ratio	0.91	0.01
5Y Beta	0.23	0.01
5Y Dividends CAGR	5.60%	19.21%

Net Assets

NEA

$3.40B

SHM

$3.40B

Expense Ratio

NEA

N/A

SHM

0.20%

Max Drawdown

NEA

48.25%

Winner

SHM

11.61%

Sharpe Ratio

Winner

NEA

0.91

SHM

0.01

5Y Beta

NEA

0.23

Winner

SHM

0.01

5Y Dividends CAGR

NEA

5.60%

Winner

SHM

19.21%

NEA vs SHM - Historical Returns

Returns include dividend reinvestment.

Period	NEA	SHM
1 month	+1.64%	-0.05%
3 months	+0.73%	-0.37%
6 months	+5.01%	+1.05%
1 year	+13.91%	+3.75%
5 years(CAGR)	+0.39%	+0.87%
10 years(CAGR)	+3.04%	+1.15%
Max(CAGR)	+4.59%	+1.79%

Winner

NEA

+1.64%

SHM

-0.05%

Winner

NEA

+0.73%

SHM

-0.37%

Winner

NEA

+5.01%

SHM

+1.05%

Winner

NEA

+13.91%

SHM

+3.75%

5Y(CAGR)

NEA

+0.39%

Winner

SHM

+0.87%

10Y(CAGR)

Winner

NEA

+3.04%

SHM

+1.15%

Max(CAGR)

Winner

NEA

+4.59%

SHM

+1.79%

NEA vs SHM - Annual Returns (2002 - 2026)

Returns include dividend reinvestment.

Year	NEA	SHM
2026	+2.27%	+0.45%
2025	+10.42%	+3.86%
2024	+9.00%	+1.22%
2023	-0.58%	+2.81%
2022	-23.00%	-3.80%
2021	+8.45%	-0.37%
2020	+10.47%	+2.53%
2019	+20.56%	+3.60%
2018	-5.87%	+1.42%
2017	+9.35%	+1.01%
2016	+1.99%	-0.49%
2015	+6.25%	+1.13%
2014	+21.40%	+1.01%
2013	-16.42%	+1.27%
2012	+6.78%	+1.32%
2011	+17.35%	+3.76%
2010	+1.80%	+1.19%
2009	+34.36%	+4.28%
2008	-24.81%	+5.83%
2007	+5.52%	+1.61%
2006	+11.55%	N/A
2005	+4.15%	N/A
2004	-4.83%	N/A
2003	+8.59%	N/A
2002	+0.07%	N/A

NEA vs SHM Drawdown Comparison

The maximum drawdown for NEA was -43.81%, occurring on Oct 10, 2008. Recovery took 405 trading sessions.

The maximum drawdown for SHM was -11.61%, occurring on Mar 19, 2020. Recovery took 50 trading sessions.

The current NEA drawdown is -4.75%. The current SHM drawdown is -0.65%.

Rank	NEA	SHM
#1	-43.81% Feb 12, 2008 - Sep 21, 2009	-11.61% Mar 9, 2020 - May 19, 2020
#2	-36.56% Sep 15, 2021 - Oct 23, 2023	-6.97% Sep 23, 2008 - Dec 5, 2008
#3	-25.03% Mar 6, 2020 - Aug 10, 2020	-6.67% Aug 3, 2021 - Sep 5, 2024
#4	-23.18% Nov 30, 2012 - Jan 7, 2015	-3.50% Aug 31, 2010 - May 6, 2011
#5	-18.08% Sep 10, 2010 - Dec 2, 2011	-3.07% Feb 13, 2008 - Mar 18, 2008
#6	-16.44% Mar 5, 2004 - Jun 29, 2005	-2.70% Aug 22, 2016 - Aug 2, 2017
#7	-12.37% Jul 8, 2016 - Mar 7, 2019	-2.63% Apr 23, 2013 - Oct 23, 2013
#8	-12.29% Feb 12, 2007 - Jan 15, 2008	-2.07% Sep 5, 2017 - Jan 11, 2019
#9	-10.90% Jul 28, 2005 - Jul 12, 2006	-1.87% Feb 13, 2009 - Apr 16, 2009
#10	-10.61% Jul 14, 2003 - Dec 31, 2003	-1.75% Mar 18, 2008 - Aug 15, 2008
#11	-9.23% Feb 2, 2015 - Dec 24, 2015	-1.67% Sep 6, 2011 - Jan 11, 2012
#12	-9.15% Oct 7, 2009 - Feb 2, 2010	-1.67% Apr 4, 2025 - Jun 12, 2025
#13	-6.54% Mar 12, 2012 - May 16, 2012	-1.31% Oct 3, 2024 - Feb 25, 2025
#14	-4.92% Jan 27, 2021 - Apr 13, 2021	-1.24% Sep 17, 2008 - Sep 23, 2008
#15	-4.73% Nov 30, 2006 - Feb 12, 2007	-1.13% Feb 26, 2026 - Mar 24, 2026

Correlation

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

0.95

-101

Dividend Comparison (2003 - 2026)

NEA vs SHM dividend yield comparison.

Year	NEA	SHM
2026	2.34%	0.89%
2025	7.36%	2.61%
2024	6.63%	2.06%
2023	3.95%	1.15%
2022	5.49%	0.69%
2021	4.50%	0.86%
2020	4.45%	1.24%
2019	4.46%	1.40%
2018	5.40%	1.23%
2017	5.33%	1.06%
2016	5.70%	0.94%
2015	5.71%	0.92%
2014	5.95%	0.93%
2013	6.24%	0.97%
2012	5.65%	1.40%
2011	5.64%	1.60%
2010	6.09%	1.91%
2009	5.37%	2.03%
2008	6.81%	2.59%
2007	4.93%	0.72%
2006	5.10%	0.00%
2005	5.93%	0.00%
2004	6.81%	0.00%
2003	6.11%	0.00%