NMI vs RWM

Comparison between Nuveen Municipal Income Fund (NMI, ETF) and PROSHARES SHORT RUSSELL2000 (RWM, ETF).

5-Year PerformanceNMI has outperformed RWM, delivering a return of +2.9% compared to -5.2%

NMI vs RWM - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	NMI(ETF)	RWM(ETF)
Net Assets	$119M	$119M
Expense Ratio	N/A	0.95%
Max Drawdown	37.13%	97.16%
Sharpe Ratio	0.86	-1.62
5Y Beta	0.09	-1.10
5Y Dividends CAGR	4.52%	70.30%

Net Assets

Winner

NMI

$119M

RWM

$119M

Expense Ratio

NMI

N/A

RWM

0.95%

Max Drawdown

Winner

NMI

37.13%

RWM

97.16%

Sharpe Ratio

Winner

NMI

0.86

RWM

-1.62

5Y Beta

NMI

0.09

Winner

RWM

-1.10

5Y Dividends CAGR

NMI

4.52%

Winner

RWM

70.30%

NMI vs RWM - Historical Returns

Returns include dividend reinvestment.

Period	NMI	RWM
1 month	+6.48%	-3.57%
3 months	+13.32%	-15.43%
6 months	+13.58%	-13.00%
1 year	+17.86%	-26.20%
5 years(CAGR)	+2.93%	-5.17%
10 years(CAGR)	+2.47%	-12.11%
Max(CAGR)	+4.92%	-12.17%

Winner

NMI

+6.48%

RWM

-3.57%

Winner

NMI

+13.32%

RWM

-15.43%

Winner

NMI

+13.58%

RWM

-13.00%

Winner

NMI

+17.86%

RWM

-26.20%

5Y(CAGR)

Winner

NMI

+2.93%

RWM

-5.17%

10Y(CAGR)

Winner

NMI

+2.47%

RWM

-12.11%

Max(CAGR)

Winner

NMI

+4.92%

RWM

-12.17%

NMI vs RWM - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	NMI	RWM
2026	+13.60%	-14.70%
2025	+9.47%	-9.27%
2024	+6.56%	-6.49%
2023	-1.27%	-10.99%
2022	-15.15%	+19.82%
2021	+4.22%	-19.11%
2020	+4.89%	-31.06%
2019	+14.75%	-19.44%
2018	-8.06%	+12.68%
2017	+7.78%	-13.13%
2016	-3.15%	-22.95%
2015	+5.68%	+0.05%
2014	+23.72%	-9.33%
2013	-13.55%	-28.41%
2012	+10.45%	-16.54%
2011	+18.12%	-6.11%
2010	-0.83%	-25.42%
2009	+18.46%	-31.44%
2008	-4.73%	+22.38%
2007	+3.15%	+4.98%
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 RWM Drawdown Comparison

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

The maximum drawdown for RWM was -95.50%, occurring on Jun 12, 2026. This drawdown has not yet recovered.

The current NMI drawdown is -0.71%. The current RWM drawdown is -95.50%.

Rank	NMI	RWM
#1	-28.92% Dec 21, 2021 - Jul 11, 2025	-95.50% Mar 9, 2009 - Jun 12, 2026
#2	-22.57% Mar 13, 2013 - Dec 11, 2014	-29.50% Nov 20, 2008 - Mar 9, 2009
#3	-20.89% May 30, 2008 - Apr 27, 2009	-18.20% Oct 27, 2008 - Nov 19, 2008
#4	-19.97% Mar 5, 2020 - Mar 30, 2020	-17.33% Mar 10, 2008 - Oct 6, 2008
#5	-18.02% Apr 7, 2017 - Aug 15, 2019	-13.39% Oct 9, 2008 - Oct 24, 2008
#6	-17.54% Aug 29, 2001 - May 20, 2003	-10.96% Aug 15, 2007 - Nov 19, 2007
#7	-16.27% Oct 11, 2016 - Apr 7, 2017	-9.82% Mar 5, 2007 - Jul 27, 2007
#8	-15.15% Nov 5, 2010 - Sep 30, 2011	-8.16% Jan 22, 2008 - Mar 6, 2008
#9	-13.50% Mar 19, 2004 - Jan 24, 2005	-7.95% Nov 26, 2007 - Jan 4, 2008
#10	-13.10% Mar 30, 2020 - Aug 31, 2020	-5.46% Jan 26, 2007 - Mar 2, 2007
#11	-12.93% May 6, 2015 - Dec 22, 2015	-4.86% Aug 3, 2007 - Aug 15, 2007
#12	-11.67% May 22, 2003 - Mar 19, 2004	-2.22% Jan 8, 2008 - Jan 11, 2008
#13	-11.64% Nov 8, 1999 - Feb 16, 2000	-1.96% Nov 21, 2007 - Nov 26, 2007
#14	-11.23% Aug 19, 2005 - Nov 30, 2006	-1.63% Jul 27, 2007 - Aug 3, 2007
#15	-10.96% Apr 21, 2026 - Jun 10, 2026	-1.38% Jan 11, 2008 - Jan 15, 2008

Correlation

Correlation between NMI and RWM is -0.90 which considered as a strong negative correlation - the stocks tend to move in opposite directions.

-0.90

-101

Dividend Comparison (1999 - 2026)

NMI vs RWM dividend yield comparison.

Year	NMI	RWM
2026	1.71%	0.47%
2025	4.59%	3.97%
2024	4.63%	6.03%
2023	4.04%	4.78%
2022	3.51%	0.39%
2021	3.22%	0.00%
2020	3.53%	0.20%
2019	4.15%	1.55%
2018	5.12%	0.87%
2017	4.21%	0.07%
2016	4.45%	0.00%
2015	4.28%	0.00%
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%	37.88%
2007	4.85%	2.28%
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%