NPV vs FCAL

Comparison between Nuveen Virginia Quality Municipal Income Fund (NPV, ETF) and FIRST TRUST CALIFORNIA MUNICIPAL HIGH INCOME ETF (FCAL, ETF).

5-Year PerformanceFCAL has outperformed NPV, delivering a return of +0.3% compared to -4.2%

NPV vs FCAL - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	NPV(ETF)	FCAL(ETF)
Net Assets	$218M	$219M
Expense Ratio	N/A	0.49%
Max Drawdown	52.73%	16.86%
Sharpe Ratio	-0.21	0.42
5Y Beta	0.09	0.01
5Y Dividends CAGR	7.71%	9.81%

Net Assets

NPV

$218M

Winner

FCAL

$219M

Expense Ratio

NPV

N/A

FCAL

0.49%

Max Drawdown

NPV

52.73%

Winner

FCAL

16.86%

Sharpe Ratio

NPV

-0.21

Winner

FCAL

0.42

5Y Beta

NPV

0.09

Winner

FCAL

0.01

5Y Dividends CAGR

NPV

7.71%

Winner

FCAL

9.81%

NPV vs FCAL - Historical Returns

Returns include dividend reinvestment.

Period	NPV	FCAL
1 month	-2.48%	+0.03%
3 months	-4.99%	-0.40%
6 months	-5.61%	-1.27%
1 year	+1.79%	+5.21%
5 years(CAGR)	-4.23%	+0.31%
10 years(CAGR)	+1.34%	+2.41%
Max(CAGR)	+3.73%	+2.41%

NPV

-2.48%

Winner

FCAL

+0.03%

NPV

-4.99%

Winner

FCAL

-0.40%

NPV

-5.61%

Winner

FCAL

-1.27%

NPV

+1.79%

Winner

FCAL

+5.21%

5Y(CAGR)

NPV

-4.23%

Winner

FCAL

+0.31%

10Y(CAGR)

NPV

+1.34%

Winner

FCAL

+2.41%

Max(CAGR)

Winner

NPV

+3.73%

FCAL

+2.41%

NPV vs FCAL - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	NPV	FCAL
2026	-0.33%	+0.61%
2025	-6.00%	+3.05%
2024	+24.72%	+1.84%
2023	-1.53%	+6.19%
2022	-30.61%	-9.40%
2021	+10.87%	+3.02%
2020	+14.18%	+3.39%
2019	+27.87%	+9.63%
2018	-4.56%	+1.01%
2017	+3.28%	+4.40%
2016	-0.03%	N/A
2015	+9.28%	N/A
2014	+17.11%	N/A
2013	-20.91%	N/A
2012	+5.25%	N/A
2011	+11.93%	N/A
2010	+3.16%	N/A
2009	+35.31%	N/A
2008	-11.84%	N/A
2007	-7.20%	N/A
2006	-1.23%	N/A
2005	-4.05%	N/A
2004	+6.54%	N/A
2003	+4.52%	N/A
2002	+18.83%	N/A
2001	+7.94%	N/A
2000	+22.39%	N/A
1999	-14.72%	N/A

NPV vs FCAL Drawdown Comparison

The maximum drawdown for NPV was -44.23%, occurring on Oct 27, 2023. This drawdown has not yet recovered.

The maximum drawdown for FCAL was -14.81%, occurring on Mar 20, 2020. Recovery took 204 trading sessions.

The current NPV drawdown is -21.11%. The current FCAL drawdown is -1.89%.

Rank	NPV	FCAL
#1	-44.23% Dec 22, 2021 - Oct 27, 2023	-14.81% Feb 28, 2020 - Dec 17, 2020
#2	-41.74% Feb 12, 2007 - Jul 28, 2009	-14.44% Jul 20, 2021 - Nov 11, 2025
#3	-28.66% Jul 17, 2012 - Mar 10, 2016	-2.96% Dec 29, 2017 - Dec 21, 2018
#4	-25.55% Feb 24, 2020 - Jul 6, 2020	-2.57% Feb 27, 2026 - Jun 22, 2026
#5	-23.27% Jan 26, 2004 - Nov 4, 2004	-2.28% Feb 12, 2021 - May 6, 2021
#6	-19.13% Oct 12, 2010 - Jan 23, 2012	-2.20% Jul 2, 2026 - Aug 3, 2026
#7	-16.53% Sep 7, 2016 - Jul 31, 2019	-1.27% Aug 28, 2019 - Oct 8, 2019
#8	-16.44% Oct 12, 2005 - Feb 9, 2007	-1.10% Oct 9, 2019 - Dec 27, 2019
#9	-15.46% Nov 2, 1999 - Aug 28, 2000	-1.03% Dec 7, 2017 - Dec 28, 2017
#10	-11.70% Jun 18, 2003 - Jan 12, 2004	-0.88% Aug 15, 2017 - Sep 12, 2017
#11	-9.96% Feb 14, 2005 - May 24, 2005	-0.71% Apr 15, 2019 - Apr 30, 2019
#12	-9.94% Aug 31, 2021 - Dec 22, 2021	-0.71% Sep 12, 2017 - Oct 19, 2017
#13	-8.98% Aug 20, 2002 - Dec 31, 2002	-0.65% Dec 28, 2018 - Jan 31, 2019
#14	-8.92% Aug 6, 2001 - Jun 13, 2002	-0.64% Nov 20, 2017 - Dec 5, 2017
#15	-8.62% Oct 30, 2009 - Mar 26, 2010	-0.58% Dec 21, 2018 - Dec 28, 2018

Correlation

Correlation between NPV and FCAL is 0.81 which considered as a strong positive correlation - the stocks tend to move together.

0.81

-101

Dividend Comparison (2000 - 2026)

NPV vs FCAL dividend yield comparison.

Year	NPV	FCAL
2026	4.81%	2.34%
2025	7.55%	3.22%
2024	5.63%	2.99%
2023	3.89%	2.74%
2022	5.08%	2.38%
2021	3.42%	2.03%
2020	3.49%	2.11%
2019	3.58%	2.68%
2018	4.62%	2.99%
2017	4.40%	1.30%
2016	4.87%	0.00%
2015	5.25%	0.00%
2014	5.73%	0.00%
2013	6.15%	0.00%
2012	4.35%	0.00%
2011	4.93%	0.00%
2010	5.47%	0.00%
2009	4.57%	0.00%
2008	6.13%	0.00%
2007	5.58%	0.00%
2006	5.00%	0.00%
2005	6.85%	0.00%
2004	5.19%	0.00%
2003	5.29%	0.00%
2002	5.05%	0.00%
2001	5.32%	0.00%
2000	2.20%	0.00%