NMZ vs USTB

Comparison between Nuveen Municipal High Income Opportunity Fund (NMZ, ETF) and VICTORYSHARES SHORT-TERM BOND ETF FORMERLY VICTORYSHARES USAA CORE SHORT-TERM BOND ETF VICTORYSHARES SHORT-TERM BOND ETF (USTB, ETF).

5-Year PerformanceUSTB has outperformed NMZ, delivering a return of +3.6% compared to -1.7%

NMZ vs USTB - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	NMZ(ETF)	USTB(ETF)
Net Assets	$2.20B	$2.30B
Expense Ratio	N/A	0.34%
Max Drawdown	63.45%	7.56%
Sharpe Ratio	0.68	0.10
5Y Beta	0.23	0.01
5Y Dividends CAGR	2.41%	16.23%

Net Assets

NMZ

$2.20B

Winner

USTB

$2.30B

Expense Ratio

NMZ

N/A

USTB

0.34%

Max Drawdown

NMZ

63.45%

Winner

USTB

7.56%

Sharpe Ratio

Winner

NMZ

0.68

USTB

0.10

5Y Beta

NMZ

0.23

Winner

USTB

0.01

5Y Dividends CAGR

NMZ

2.41%

Winner

USTB

16.23%

NMZ vs USTB - Historical Returns

Returns include dividend reinvestment.

Period	NMZ	USTB
1 month	-1.48%	+0.35%
3 months	+2.52%	+0.86%
6 months	+1.39%	+1.36%
1 year	+10.50%	+4.00%
5 years(CAGR)	-1.74%	+3.58%
10 years(CAGR)	+2.13%	+3.47%
Max(CAGR)	+4.98%	+3.47%

NMZ

-1.48%

Winner

USTB

+0.35%

Winner

NMZ

+2.52%

USTB

+0.86%

Winner

NMZ

+1.39%

USTB

+1.36%

Winner

NMZ

+10.50%

USTB

+4.00%

5Y(CAGR)

NMZ

-1.74%

Winner

USTB

+3.58%

10Y(CAGR)

NMZ

+2.13%

Winner

USTB

+3.47%

Max(CAGR)

Winner

NMZ

+4.98%

USTB

+3.47%

NMZ vs USTB - Annual Returns (2003 - 2026)

Returns include dividend reinvestment.

Year	NMZ	USTB
2026	+5.43%	+1.87%
2025	+0.23%	+6.13%
2024	+15.82%	+6.81%
2023	-1.16%	+6.57%
2022	-27.24%	-2.72%
2021	+12.04%	+0.89%
2020	+7.47%	+5.00%
2019	+25.87%	+4.99%
2018	-9.94%	+1.12%
2017	+12.41%	+0.35%
2016	-1.39%	N/A
2015	+9.91%	N/A
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 USTB Drawdown Comparison

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

The maximum drawdown for USTB was -5.32%, occurring on Mar 24, 2020. Recovery took 65 trading sessions.

The current NMZ drawdown is -10.39%.

Rank	NMZ	USTB
#1	-58.44% May 11, 2007 - Jan 13, 2012	-5.32% Mar 4, 2020 - Jun 5, 2020
#2	-40.01% Jul 13, 2021 - Oct 27, 2023	-4.96% Sep 9, 2021 - Jul 13, 2023
#3	-32.56% Feb 20, 2020 - Dec 30, 2020	-1.02% Aug 30, 2023 - Nov 3, 2023
#4	-22.40% Jan 24, 2013 - May 13, 2014	-0.84% Feb 27, 2026 - May 1, 2026
#5	-15.03% Jul 8, 2016 - Mar 8, 2019	-0.81% Dec 29, 2017 - Aug 6, 2018
#6	-12.78% Mar 17, 2004 - Oct 14, 2004	-0.68% Sep 27, 2024 - Dec 3, 2024
#7	-6.78% Feb 2, 2015 - Sep 22, 2015	-0.67% Jul 13, 2023 - Aug 4, 2023
#8	-5.68% Feb 2, 2012 - Mar 28, 2012	-0.65% Apr 3, 2025 - Apr 28, 2025
#9	-5.52% Feb 11, 2021 - Apr 13, 2021	-0.62% Sep 4, 2019 - Oct 2, 2019
#10	-5.15% Jun 2, 2006 - Aug 8, 2006	-0.48% Apr 4, 2024 - May 2, 2024
#11	-5.05% Aug 12, 2019 - Nov 11, 2019	-0.46% Jan 31, 2024 - Mar 1, 2024
#12	-4.75% Nov 1, 2012 - Dec 5, 2012	-0.43% Aug 8, 2023 - Aug 25, 2023
#13	-4.52% May 28, 2014 - Oct 20, 2014	-0.40% Sep 21, 2018 - Nov 16, 2018
#14	-4.47% Dec 13, 2012 - Jan 4, 2013	-0.40% Oct 4, 2019 - Nov 22, 2019
#15	-4.05% Jul 31, 2012 - Sep 18, 2012	-0.38% Aug 2, 2024 - Aug 21, 2024

Correlation

Correlation between NMZ and USTB is 0.54 which considered as a moderate positive correlation - the stocks show some tendency to move together.

0.54

-101

Dividend Comparison (2004 - 2026)

NMZ vs USTB dividend yield comparison.

Year	NMZ	USTB
2026	4.46%	2.68%
2025	7.71%	4.63%
2024	6.35%	5.05%
2023	5.44%	4.49%
2022	7.04%	2.54%
2021	5.10%	1.84%
2020	5.09%	2.59%
2019	4.99%	2.69%
2018	6.15%	2.32%
2017	5.94%	0.43%
2016	6.94%	0.00%
2015	6.67%	0.00%
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%