NMI vs ERH

Comparison between Nuveen Municipal Income Fund (NMI, ETF) and Allspring Utilities and High Income Fund (ERH, ETF).

5-Year PerformanceERH has outperformed NMI, delivering a return of +4.7% compared to +2.5%

NMI vs ERH - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	NMI(ETF)	ERH(ETF)
Net Assets	$120M	$121M
Max Drawdown	37.13%	74.70%
Sharpe Ratio	0.69	0.57
5Y Beta	0.08	0.28
5Y Dividends CAGR	4.68%	4.73%

Net Assets

NMI

$120M

Winner

ERH

$121M

Max Drawdown

Winner

NMI

37.13%

ERH

74.70%

Sharpe Ratio

Winner

NMI

0.69

ERH

0.57

5Y Beta

Winner

NMI

0.08

ERH

0.28

5Y Dividends CAGR

NMI

4.68%

Winner

ERH

4.73%

NMI vs ERH - Historical Returns

Returns include dividend reinvestment.

Period	NMI	ERH
1 month	+3.22%	+2.01%
3 months	-0.96%	-1.46%
6 months	+10.12%	+5.65%
1 year	+14.60%	+9.97%
5 years(CAGR)	+2.52%	+4.67%
10 years(CAGR)	+2.19%	+6.44%
Max(CAGR)	+4.82%	+7.06%

Winner

NMI

+3.22%

ERH

+2.01%

Winner

NMI

-0.96%

ERH

-1.46%

Winner

NMI

+10.12%

ERH

+5.65%

Winner

NMI

+14.60%

ERH

+9.97%

5Y(CAGR)

NMI

+2.52%

Winner

ERH

+4.67%

10Y(CAGR)

NMI

+2.19%

Winner

ERH

+6.44%

Max(CAGR)

NMI

+4.82%

Winner

ERH

+7.06%

NMI vs ERH - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	NMI	ERH
2026	+11.31%	+4.97%
2025	+9.47%	+19.30%
2024	+6.56%	+24.86%
2023	-1.27%	-11.14%
2022	-15.15%	-18.66%
2021	+4.22%	+24.09%
2020	+4.89%	-2.29%
2019	+14.75%	+31.38%
2018	-8.06%	-8.20%
2017	+7.78%	+18.00%
2016	-3.15%	+15.44%
2015	+5.68%	-7.58%
2014	+23.72%	+16.65%
2013	-13.55%	+13.20%
2012	+10.45%	+9.30%
2011	+18.12%	+3.37%
2010	-0.83%	-17.01%
2009	+18.46%	+39.98%
2008	-4.73%	-51.44%
2007	+3.15%	+16.01%
2006	+8.62%	+63.33%
2005	+10.00%	+15.48%
2004	+8.28%	+9.31%
2003	+2.33%	N/A
2002	-3.31%	N/A
2001	+0.15%	N/A
2000	+16.51%	N/A
1999	-3.48%	N/A

NMI vs ERH Drawdown Comparison

The maximum drawdown for NMI was -28.92%, occurring on Oct 24, 2022. Recovery took 890 trading sessions.

The maximum drawdown for ERH was -69.81%, occurring on Mar 9, 2009. Recovery took 2326 trading sessions.

The current NMI drawdown is -2.72%. The current ERH drawdown is -5.01%.

Rank	NMI	ERH
#1	-28.92% Dec 21, 2021 - Jul 11, 2025	-69.81% Jan 11, 2008 - Apr 7, 2017
#2	-22.57% Mar 13, 2013 - Dec 11, 2014	-46.06% Feb 20, 2020 - Jun 10, 2021
#3	-20.89% May 30, 2008 - Apr 27, 2009	-37.84% Dec 15, 2021 - Jun 3, 2025
#4	-19.97% Mar 5, 2020 - Mar 30, 2020	-25.62% Apr 12, 2007 - Oct 23, 2007
#5	-18.02% Apr 7, 2017 - Aug 15, 2019	-14.12% May 3, 2004 - Nov 4, 2004
#6	-17.54% Aug 29, 2001 - May 20, 2003	-13.93% Dec 12, 2017 - Aug 10, 2018
#7	-16.27% Oct 11, 2016 - Apr 7, 2017	-13.90% Nov 13, 2007 - Dec 31, 2007
#8	-15.15% Nov 5, 2010 - Sep 30, 2011	-12.90% Sep 13, 2018 - Feb 4, 2019
#9	-13.50% Mar 19, 2004 - Jan 24, 2005	-12.85% Sep 14, 2021 - Dec 6, 2021
#10	-13.10% Mar 30, 2020 - Aug 31, 2020	-10.95% Jan 3, 2007 - Mar 21, 2007
#11	-12.93% May 6, 2015 - Dec 22, 2015	-9.36% Oct 7, 2025 - Feb 25, 2026
#12	-11.67% May 22, 2003 - Mar 19, 2004	-8.83% May 4, 2026 - May 18, 2026
#13	-11.64% Nov 8, 1999 - Feb 16, 2000	-8.38% Feb 27, 2026 - May 1, 2026
#14	-11.23% Aug 19, 2005 - Nov 30, 2006	-7.79% Oct 4, 2005 - Jan 18, 2006
#15	-10.96% Apr 21, 2026 - Jun 10, 2026	-6.40% Mar 7, 2005 - Jun 7, 2005

Correlation

Correlation between NMI and ERH is 0.87 which considered as a strong positive correlation - the stocks tend to move together.

0.87

-101

Dividend Comparison (1999 - 2026)

NMI vs ERH dividend yield comparison.

Year	NMI	ERH
2026	2.46%	5.06%
2025	4.59%	8.13%
2024	4.63%	7.15%
2023	4.04%	9.19%
2022	3.51%	8.09%
2021	3.22%	5.86%
2020	3.53%	7.20%
2019	4.15%	6.53%
2018	5.12%	8.06%
2017	4.21%	6.82%
2016	4.45%	7.53%
2015	4.28%	8.04%
2014	4.53%	7.03%
2013	5.68%	7.63%
2012	4.31%	8.05%
2011	4.94%	8.07%
2010	5.51%	8.67%
2009	4.95%	8.96%
2008	5.31%	23.94%
2007	4.85%	15.45%
2006	4.80%	12.10%
2005	5.14%	20.46%
2004	5.38%	5.12%
2003	5.95%	0.00%
2002	6.08%	0.00%
2001	6.28%	0.00%
2000	6.13%	0.00%
1999	1.14%	0.00%