NMT vs HIPS

Comparison between Nuveen Massachusetts Quality Municipal Income Fund (NMT, ETF) and GraniteShares HIPS US High Income ETF (HIPS, ETF).

5-Year PerformanceHIPS has outperformed NMT, delivering a return of +4.8% compared to +1.5%

NMT vs HIPS - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	NMT(ETF)	HIPS(ETF)
Net Assets	$116M	$116M
Expense Ratio	N/A	1.17%
Max Drawdown	48.99%	61.65%
Sharpe Ratio	1.45	0.48
5Y Beta	0.16	0.48
P/E Ratio	N/A	15.29
Forward P/E	N/A	10.20
PEG Ratio	N/A	0.09
5Y Dividends CAGR	8.52%	1.61%
P/S Ratio	N/A	2.41
P/B Ratio	N/A	1.12

Net Assets

NMT

$116M

Winner

HIPS

$116M

Expense Ratio

NMT

N/A

HIPS

1.17%

Max Drawdown

Winner

NMT

48.99%

HIPS

61.65%

Sharpe Ratio

Winner

NMT

1.45

HIPS

0.48

5Y Beta

Winner

NMT

0.16

HIPS

0.48

P/E Ratio

NMT

N/A

HIPS

15.29

Forward P/E

NMT

N/A

HIPS

10.20

PEG Ratio

NMT

N/A

HIPS

0.09

5Y Dividends CAGR

Winner

NMT

8.52%

HIPS

1.61%

P/S Ratio

NMT

N/A

HIPS

2.41

P/B Ratio

NMT

N/A

HIPS

1.12

NMT vs HIPS - Historical Returns

Returns include dividend reinvestment.

Period	NMT	HIPS
1 month	+0.40%	+3.70%
3 months	+2.56%	+4.06%
6 months	+11.03%	+5.53%
1 year	+21.66%	+8.55%
5 years(CAGR)	+1.50%	+4.83%
10 years(CAGR)	+2.67%	+5.14%
Max(CAGR)	+4.59%	+4.45%

NMT

+0.40%

Winner

HIPS

+3.70%

NMT

+2.56%

Winner

HIPS

+4.06%

Winner

NMT

+11.03%

HIPS

+5.53%

Winner

NMT

+21.66%

HIPS

+8.55%

5Y(CAGR)

NMT

+1.50%

Winner

HIPS

+4.83%

10Y(CAGR)

NMT

+2.67%

Winner

HIPS

+5.14%

Max(CAGR)

Winner

NMT

+4.59%

HIPS

+4.45%

NMT vs HIPS - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	NMT	HIPS
2026	+17.21%	+7.13%
2025	+5.85%	+0.92%
2024	+16.17%	+14.22%
2023	+1.52%	+14.87%
2022	-30.75%	-13.14%
2021	+9.84%	+24.50%
2020	+6.18%	-11.19%
2019	+23.70%	+22.36%
2018	-14.40%	-10.35%
2017	+13.61%	+5.25%
2016	+0.05%	+22.17%
2015	+8.91%	-15.30%
2014	+15.06%	N/A
2013	-16.13%	N/A
2012	+6.26%	N/A
2011	+17.17%	N/A
2010	+4.45%	N/A
2009	+43.04%	N/A
2008	-20.35%	N/A
2007	-7.15%	N/A
2006	-3.17%	N/A
2005	+3.83%	N/A
2004	+8.22%	N/A
2003	+4.73%	N/A
2002	+6.23%	N/A
2001	+12.45%	N/A
2000	+10.29%	N/A
1999	-6.15%	N/A

NMT vs HIPS Drawdown Comparison

The maximum drawdown for NMT was -40.09%, occurring on Oct 10, 2008. Recovery took 895 trading sessions.

The maximum drawdown for HIPS was -53.03%, occurring on Mar 23, 2020. Recovery took 302 trading sessions.

The current NMT drawdown is -2.80%. The current HIPS drawdown is -0.17%.

Rank	NMT	HIPS
#1	-40.09% Mar 2, 2006 - Sep 21, 2009	-53.03% Feb 20, 2020 - May 3, 2021
#2	-38.87% Nov 22, 2021 - May 1, 2026	-32.09% Feb 5, 2015 - Dec 9, 2016
#3	-21.46% Jan 24, 2013 - Dec 3, 2015	-21.31% Nov 16, 2021 - Feb 23, 2024
#4	-20.51% Jul 25, 2016 - Aug 1, 2019	-18.70% Aug 24, 2018 - Apr 15, 2019
#5	-18.20% Oct 21, 2010 - Jan 5, 2012	-15.41% Feb 20, 2025 - Jan 14, 2026
#6	-17.05% Jan 24, 2020 - Jul 10, 2020	-11.12% Jan 23, 2018 - Jul 6, 2018
#7	-16.42% Jun 4, 2003 - Mar 31, 2004	-6.26% Jun 14, 2021 - Oct 14, 2021
#8	-15.35% Feb 15, 2005 - Sep 7, 2005	-5.73% Apr 15, 2019 - Jul 16, 2019
#9	-13.69% Mar 31, 2004 - Oct 27, 2004	-5.69% Jul 19, 2017 - Jan 16, 2018
#10	-9.72% Nov 3, 1999 - Jul 27, 2000	-5.59% May 1, 2026 - Aug 14, 2026
#11	-8.85% Oct 7, 2009 - Mar 4, 2010	-5.44% Jul 31, 2024 - Aug 26, 2024
#12	-8.72% Feb 13, 2012 - May 2, 2012	-4.87% Dec 2, 2024 - Feb 14, 2025
#13	-8.29% Oct 8, 2002 - Mar 11, 2003	-4.63% Jul 24, 2019 - Sep 19, 2019
#14	-7.58% Oct 15, 2012 - Jan 17, 2013	-4.52% Jan 16, 2026 - Apr 15, 2026
#15	-7.49% Sep 7, 2005 - Feb 28, 2006	-4.42% Feb 21, 2017 - Apr 25, 2017

Correlation

Correlation between NMT and HIPS is 0.57 which considered as a moderate positive correlation - the stocks show some tendency to move together.

0.57

-101

Dividend Comparison (1999 - 2026)

NMT vs HIPS dividend yield comparison.

Year	NMT	HIPS
2026	3.94%	6.35%
2025	7.27%	11.04%
2024	5.94%	10.04%
2023	3.06%	10.32%
2022	4.50%	10.76%
2021	3.43%	8.43%
2020	3.60%	9.50%
2019	3.46%	6.93%
2018	4.66%	8.66%
2017	4.57%	7.28%
2016	5.30%	7.20%
2015	5.15%	8.17%
2014	5.05%	0.00%
2013	5.63%	0.00%
2012	4.93%	0.00%
2011	5.24%	0.00%
2010	6.12%	0.00%
2009	5.31%	0.00%
2008	6.87%	0.00%
2007	5.04%	0.00%
2006	5.10%	0.00%
2005	5.67%	0.00%
2004	5.64%	0.00%
2003	6.12%	0.00%
2002	5.39%	0.00%
2001	6.16%	0.00%
2000	5.75%	0.00%
1999	1.00%	0.00%