NMS vs SPY
Comparison between Nuveen Minnesota Quality Municipal Income Fund (NMS, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed NMS, delivering a return of +13.3% compared to -0.2%
NMS vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
NMS vs SPY - Historical Returns
Returns include dividend reinvestment.
NMS vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | NMS | SPY |
|---|---|---|
| 2026 | +8.15% | +8.26% |
| 2025 | +2.31% | +18.00% |
| 2024 | +18.82% | +25.59% |
| 2023 | -0.21% | +26.72% |
| 2022 | -22.04% | -18.64% |
| 2021 | +6.60% | +30.52% |
| 2020 | +7.38% | +17.28% |
| 2019 | +23.39% | +31.09% |
| 2018 | -12.96% | -5.24% |
| 2017 | -4.05% | +20.78% |
| 2016 | +12.86% | +13.59% |
| 2015 | +6.24% | +1.31% |
| 2014 | -3.37% | +14.56% |
| 2013 | N/A | +29.00% |
| 2012 | N/A | +14.17% |
| 2011 | N/A | +0.85% |
| 2010 | N/A | +13.14% |
| 2009 | N/A | +22.67% |
| 2008 | N/A | -36.25% |
| 2007 | N/A | +5.32% |
| 2006 | N/A | +13.85% |
| 2005 | N/A | +5.32% |
| 2004 | N/A | +10.75% |
| 2003 | N/A | +24.18% |
| 2002 | N/A | -22.42% |
| 2001 | N/A | -10.13% |
| 2000 | N/A | -8.84% |
| 1999 | N/A | +8.61% |
NMS vs SPY Drawdown Comparison
The maximum drawdown for NMS was -38.76%, occurring on Oct 25, 2023. This drawdown has not yet recovered.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current NMS drawdown is -2.97%. The current SPY drawdown is -2.90%.
| Rank | NMS | SPY |
|---|---|---|
| #1 | -38.76% Sep 16, 2021 - Oct 25, 2023 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -25.42% Sep 30, 2016 - Aug 11, 2020 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -7.35% Aug 19, 2020 - Oct 27, 2020 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -7.31% Mar 18, 2015 - Jan 29, 2016 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -6.32% Nov 6, 2014 - Jan 27, 2015 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -5.93% Jun 23, 2021 - Sep 14, 2021 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -5.58% Oct 15, 2014 - Nov 6, 2014 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -5.15% May 4, 2021 - Jun 23, 2021 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -4.27% Aug 15, 2016 - Sep 30, 2016 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -4.04% Apr 13, 2016 - Jun 6, 2016 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -4.00% Jul 6, 2016 - Aug 5, 2016 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -3.76% Jun 17, 2016 - Jul 6, 2016 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -3.60% Oct 27, 2020 - Nov 17, 2020 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -3.53% Feb 11, 2021 - Apr 14, 2021 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -2.67% Feb 11, 2016 - Feb 25, 2016 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between NMS and SPY is 0.59 which considered as a moderate positive correlation - the stocks show some tendency to move together.
Dividend Comparison (1999 - 2026)
NMS vs SPY dividend yield comparison.
| Year | NMS | SPY |
|---|---|---|
| 2026 | 2.70% | 0.24% |
| 2025 | 7.29% | 1.07% |
| 2024 | 6.05% | 1.21% |
| 2023 | 4.03% | 1.40% |
| 2022 | 5.24% | 1.65% |
| 2021 | 4.19% | 1.20% |
| 2020 | 3.93% | 1.52% |
| 2019 | 4.05% | 1.75% |
| 2018 | 5.52% | 2.04% |
| 2017 | 5.20% | 1.80% |
| 2016 | 4.68% | 2.03% |
| 2015 | 5.60% | 2.06% |
| 2014 | 0.96% | 1.87% |
| 2013 | 0.00% | 1.81% |
| 2012 | 0.00% | 2.18% |
| 2011 | 0.00% | 2.05% |
| 2010 | 0.00% | 1.80% |
| 2009 | 0.00% | 1.95% |
| 2008 | 0.00% | 3.02% |
| 2007 | 0.00% | 1.85% |
| 2006 | 0.00% | 1.73% |
| 2005 | 0.00% | 1.73% |
| 2004 | 0.00% | 1.82% |
| 2003 | 0.00% | 1.47% |
| 2002 | 0.00% | 1.70% |
| 2001 | 0.00% | 1.25% |
| 2000 | 0.00% | 1.15% |
| 1999 | 0.00% | 0.24% |
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