NMI vs FCVT

Comparison between Nuveen Municipal Income Fund (NMI, ETF) and FIRST TRUST SSI STRATEGIC CONVERTIBLE SECURITIES ETF (FCVT, ETF).

5-Year PerformanceFCVT has outperformed NMI, delivering a return of +6.1% compared to +2.5%

NMI vs FCVT - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	NMI(ETF)	FCVT(ETF)
Net Assets	$120M	$121M
Expense Ratio	N/A	0.95%
Max Drawdown	37.13%	47.09%
Sharpe Ratio	0.69	1.27
5Y Beta	0.08	0.69
5Y Dividends CAGR	4.68%	-6.37%

Net Assets

NMI

$120M

Winner

FCVT

$121M

Expense Ratio

NMI

N/A

FCVT

0.95%

Max Drawdown

Winner

NMI

37.13%

FCVT

47.09%

Sharpe Ratio

NMI

0.69

Winner

FCVT

1.27

5Y Beta

Winner

NMI

0.08

FCVT

0.69

5Y Dividends CAGR

Winner

NMI

4.68%

FCVT

-6.37%

NMI vs FCVT - Historical Returns

Returns include dividend reinvestment.

Period	NMI	FCVT
1 month	+3.22%	-7.07%
3 months	-0.96%	+4.17%
6 months	+10.12%	+11.65%
1 year	+14.60%	+29.27%
5 years(CAGR)	+2.52%	+6.09%
10 years(CAGR)	+2.19%	+11.47%
Max(CAGR)	+4.82%	+10.86%

Winner

NMI

+3.22%

FCVT

-7.07%

NMI

-0.96%

Winner

FCVT

+4.17%

NMI

+10.12%

Winner

FCVT

+11.65%

NMI

+14.60%

Winner

FCVT

+29.27%

5Y(CAGR)

NMI

+2.52%

Winner

FCVT

+6.09%

10Y(CAGR)

NMI

+2.19%

Winner

FCVT

+11.47%

Max(CAGR)

NMI

+4.82%

Winner

FCVT

+10.86%

NMI vs FCVT - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	NMI	FCVT
2026	+11.31%	+16.59%
2025	+9.47%	+20.22%
2024	+6.56%	+13.11%
2023	-1.27%	+7.56%
2022	-15.15%	-20.95%
2021	+4.22%	+4.81%
2020	+4.89%	+49.75%
2019	+14.75%	+22.39%
2018	-8.06%	-2.62%
2017	+7.78%	+13.40%
2016	-3.15%	+8.21%
2015	+5.68%	-1.96%
2014	+23.72%	N/A
2013	-13.55%	N/A
2012	+10.45%	N/A
2011	+18.12%	N/A
2010	-0.83%	N/A
2009	+18.46%	N/A
2008	-4.73%	N/A
2007	+3.15%	N/A
2006	+8.62%	N/A
2005	+10.00%	N/A
2004	+8.28%	N/A
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 FCVT Drawdown Comparison

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

The maximum drawdown for FCVT was -31.85%, occurring on Oct 27, 2023. Recovery took 1149 trading sessions.

The current NMI drawdown is -2.72%. The current FCVT drawdown is -7.07%.

Rank	NMI	FCVT
#1	-28.92% Dec 21, 2021 - Jul 11, 2025	-31.85% Feb 12, 2021 - Sep 11, 2025
#2	-22.57% Mar 13, 2013 - Dec 11, 2014	-29.90% Feb 19, 2020 - Jun 8, 2020
#3	-20.89% May 30, 2008 - Apr 27, 2009	-20.07% Apr 20, 2016 - Oct 5, 2017
#4	-19.97% Mar 5, 2020 - Mar 30, 2020	-14.24% Sep 4, 2018 - Mar 21, 2019
#5	-18.02% Apr 7, 2017 - Aug 15, 2019	-12.97% Nov 17, 2015 - Apr 20, 2016
#6	-17.54% Aug 29, 2001 - May 20, 2003	-9.71% Jun 22, 2026 - Jul 16, 2026
#7	-16.27% Oct 11, 2016 - Apr 7, 2017	-8.47% Jan 28, 2026 - Apr 9, 2026
#8	-15.15% Nov 5, 2010 - Sep 30, 2011	-8.16% Sep 1, 2020 - Oct 12, 2020
#9	-13.50% Mar 19, 2004 - Jan 24, 2005	-7.44% Nov 3, 2025 - Jan 6, 2026
#10	-13.10% Mar 30, 2020 - Aug 31, 2020	-6.84% Jan 23, 2018 - Mar 9, 2018
#11	-12.93% May 6, 2015 - Dec 22, 2015	-6.79% Jun 2, 2026 - Jun 22, 2026
#12	-11.67% May 22, 2003 - Mar 19, 2004	-5.09% Oct 13, 2020 - Nov 5, 2020
#13	-11.64% Nov 8, 1999 - Feb 16, 2000	-4.97% Mar 12, 2018 - May 30, 2018
#14	-11.23% Aug 19, 2005 - Nov 30, 2006	-4.70% Jun 8, 2020 - Jun 22, 2020
#15	-10.96% Apr 21, 2026 - Jun 10, 2026	-4.69% Jan 20, 2021 - Feb 4, 2021

Correlation

Correlation between NMI and FCVT is 0.77 which considered as a strong positive correlation - the stocks tend to move together.

0.77

-101

Dividend Comparison (1999 - 2026)

NMI vs FCVT dividend yield comparison.

Year	NMI	FCVT
2026	2.46%	0.62%
2025	4.59%	1.98%
2024	4.63%	1.30%
2023	4.04%	1.76%
2022	3.51%	3.71%
2021	3.22%	23.07%
2020	3.53%	1.72%
2019	4.15%	1.60%
2018	5.12%	1.85%
2017	4.21%	2.18%
2016	4.45%	1.88%
2015	4.28%	0.59%
2014	4.53%	0.00%
2013	5.68%	0.00%
2012	4.31%	0.00%
2011	4.94%	0.00%
2010	5.51%	0.00%
2009	4.95%	0.00%
2008	5.31%	0.00%
2007	4.85%	0.00%
2006	4.80%	0.00%
2005	5.14%	0.00%
2004	5.38%	0.00%
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%