NMZ vs HDEF

Comparison between Nuveen Municipal High Income Opportunity Fund (NMZ, ETF) and XTRACKERS MSCI EAFE HIGH DIVIDEND YIELD EQUITY ETF (HDEF, ETF).

5-Year PerformanceHDEF has outperformed NMZ, delivering a return of +12.0% compared to -1.7%

NMZ vs HDEF - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	NMZ(ETF)	HDEF(ETF)
Net Assets	$2.20B	$2.20B
Expense Ratio	N/A	0.09%
Max Drawdown	63.45%	38.17%
Sharpe Ratio	0.68	1.47
5Y Beta	0.23	0.40
5Y Dividends CAGR	2.41%	12.60%

Net Assets

NMZ

$2.20B

HDEF

$2.20B

Expense Ratio

NMZ

N/A

HDEF

0.09%

Max Drawdown

NMZ

63.45%

Winner

HDEF

38.17%

Sharpe Ratio

NMZ

0.68

Winner

HDEF

1.47

5Y Beta

Winner

NMZ

0.23

HDEF

0.40

5Y Dividends CAGR

NMZ

2.41%

Winner

HDEF

12.60%

NMZ vs HDEF - Historical Returns

Returns include dividend reinvestment.

Period	NMZ	HDEF
1 month	-1.48%	+4.18%
3 months	+2.52%	+6.87%
6 months	+1.39%	+5.56%
1 year	+10.50%	+21.47%
5 years(CAGR)	-1.74%	+12.04%
10 years(CAGR)	+2.13%	+9.12%
Max(CAGR)	+4.98%	+8.15%

NMZ

-1.48%

Winner

HDEF

+4.18%

NMZ

+2.52%

Winner

HDEF

+6.87%

NMZ

+1.39%

Winner

HDEF

+5.56%

NMZ

+10.50%

Winner

HDEF

+21.47%

5Y(CAGR)

NMZ

-1.74%

Winner

HDEF

+12.04%

10Y(CAGR)

NMZ

+2.13%

Winner

HDEF

+9.12%

Max(CAGR)

NMZ

+4.98%

Winner

HDEF

+8.15%

NMZ vs HDEF - Annual Returns (2003 - 2026)

Returns include dividend reinvestment.

Year	NMZ	HDEF
2026	+5.43%	+12.39%
2025	+0.23%	+33.36%
2024	+15.82%	+3.36%
2023	-1.16%	+17.51%
2022	-27.24%	-3.03%
2021	+12.04%	+6.01%
2020	+7.47%	-2.76%
2019	+25.87%	+25.44%
2018	-9.94%	-13.77%
2017	+12.41%	+9.90%
2016	-1.39%	+13.43%
2015	+9.91%	-4.66%
2014	+19.39%	N/A
2013	-9.82%	N/A
2012	+23.60%	N/A
2011	+15.64%	N/A
2010	-0.99%	N/A
2009	+49.88%	N/A
2008	-35.08%	N/A
2007	-8.16%	N/A
2006	+16.86%	N/A
2005	+14.20%	N/A
2004	+9.13%	N/A
2003	+0.00%	N/A

NMZ vs HDEF Drawdown Comparison

The maximum drawdown for NMZ was -58.44%, occurring on Dec 16, 2008. Recovery took 1179 trading sessions.

The maximum drawdown for HDEF was -36.42%, occurring on Mar 23, 2020. Recovery took 255 trading sessions.

The current NMZ drawdown is -10.39%. The current HDEF drawdown is -0.28%.

Rank	NMZ	HDEF
#1	-58.44% May 11, 2007 - Jan 13, 2012	-36.42% Jan 2, 2020 - Jan 6, 2021
#2	-40.01% Jul 13, 2021 - Oct 27, 2023	-23.69% Feb 9, 2022 - Apr 6, 2023
#3	-32.56% Feb 20, 2020 - Dec 30, 2020	-17.55% Jan 22, 2018 - Oct 24, 2019
#4	-22.40% Jan 24, 2013 - May 13, 2014	-14.95% Aug 18, 2015 - Aug 10, 2016
#5	-15.03% Jul 8, 2016 - Mar 8, 2019	-11.15% Sep 26, 2024 - Mar 5, 2025
#6	-12.78% Mar 17, 2004 - Oct 14, 2004	-10.60% Mar 18, 2025 - Apr 22, 2025
#7	-6.78% Feb 2, 2015 - Sep 22, 2015	-9.31% Jun 15, 2021 - Jan 12, 2022
#8	-5.68% Feb 2, 2012 - Mar 28, 2012	-8.79% Jul 26, 2023 - Dec 13, 2023
#9	-5.52% Feb 11, 2021 - Apr 13, 2021	-8.02% Feb 27, 2026 - Jul 17, 2026
#10	-5.15% Jun 2, 2006 - Aug 8, 2006	-6.39% May 8, 2023 - Jun 15, 2023
#11	-5.05% Aug 12, 2019 - Nov 11, 2019	-5.63% Dec 9, 2016 - Jan 10, 2017
#12	-4.75% Nov 1, 2012 - Dec 5, 2012	-5.46% Dec 27, 2023 - Mar 20, 2024
#13	-4.52% May 28, 2014 - Oct 20, 2014	-4.72% Jan 8, 2021 - Mar 16, 2021
#14	-4.47% Dec 13, 2012 - Jan 4, 2013	-4.35% Nov 2, 2017 - Jan 9, 2018
#15	-4.05% Jul 31, 2012 - Sep 18, 2012	-4.24% May 17, 2024 - Jul 12, 2024

Correlation

Correlation between NMZ and HDEF is 0.56 which considered as a moderate positive correlation - the stocks show some tendency to move together.

0.56

-101

Dividend Comparison (2004 - 2026)

NMZ vs HDEF dividend yield comparison.

Year	NMZ	HDEF
2026	4.46%	2.52%
2025	7.71%	3.88%
2024	6.35%	4.53%
2023	5.44%	4.38%
2022	7.04%	5.41%
2021	5.10%	4.76%
2020	5.09%	3.93%
2019	4.99%	4.20%
2018	6.15%	3.55%
2017	5.94%	3.38%
2016	6.94%	9.52%
2015	6.67%	1.87%
2014	6.88%	0.00%
2013	6.73%	0.00%
2012	5.72%	0.00%
2011	7.98%	0.00%
2010	8.75%	0.00%
2009	7.32%	0.00%
2008	11.33%	0.00%
2007	7.15%	0.00%
2006	5.82%	0.00%
2005	6.63%	0.00%
2004	7.44%	0.00%