SMB vs NCA

Comparison between VANECK SHORT MUNI ETF (SMB, ETF) and Nuveen California Municipal Value Fund. (NCA, ETF).

5-Year PerformanceSMB has outperformed NCA, delivering a return of +1.2% compared to +1.2%

SMB vs NCA - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	SMB(ETF)	NCA(ETF)
Net Assets	$305M	$304M
Expense Ratio	0.07%	N/A
Max Drawdown	12.64%	31.70%
Sharpe Ratio	0.11	0.77
5Y Beta	0.00	0.15
5Y Dividends CAGR	13.74%	3.62%

Net Assets

Winner

SMB

$305M

NCA

$304M

Expense Ratio

SMB

0.07%

NCA

N/A

Max Drawdown

Winner

SMB

12.64%

NCA

31.70%

Sharpe Ratio

SMB

0.11

Winner

NCA

0.77

5Y Beta

Winner

SMB

0.00

NCA

0.15

5Y Dividends CAGR

Winner

SMB

13.74%

NCA

3.62%

SMB vs NCA - Historical Returns

Returns include dividend reinvestment.

Period	SMB	NCA
1 month	+0.58%	-0.01%
3 months	+0.32%	-0.28%
6 months	+1.37%	+6.68%
1 year	+3.78%	+12.67%
5 years(CAGR)	+1.19%	+1.17%
10 years(CAGR)	+1.55%	+2.02%
Max(CAGR)	+2.04%	+4.90%

Winner

SMB

+0.58%

NCA

-0.01%

Winner

SMB

+0.32%

NCA

-0.28%

SMB

+1.37%

Winner

NCA

+6.68%

SMB

+3.78%

Winner

NCA

+12.67%

5Y(CAGR)

Winner

SMB

+1.19%

NCA

+1.17%

10Y(CAGR)

SMB

+1.55%

Winner

NCA

+2.02%

Max(CAGR)

SMB

+2.04%

Winner

NCA

+4.90%

SMB vs NCA - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	SMB	NCA
2026	+0.55%	+3.85%
2025	+4.55%	+10.13%
2024	+2.47%	-0.80%
2023	+3.14%	+8.96%
2022	-4.35%	-13.22%
2021	+0.06%	-2.16%
2020	+3.36%	+4.73%
2019	+4.48%	+19.52%
2018	+1.75%	-7.83%
2017	+0.69%	+1.75%
2016	-0.39%	+0.41%
2015	+1.20%	+8.06%
2014	+1.09%	+19.53%
2013	+0.53%	-5.95%
2012	+1.47%	+10.54%
2011	+5.37%	+16.12%
2010	+1.32%	+0.45%
2009	+7.86%	+10.05%
2008	+2.14%	-3.00%
2007	N/A	-5.56%
2006	N/A	+12.17%
2005	N/A	+9.35%
2004	N/A	+6.39%
2003	N/A	+3.67%
2002	N/A	+1.42%
2001	N/A	+11.60%
2000	N/A	+21.02%
1999	N/A	-8.03%

SMB vs NCA Drawdown Comparison

The maximum drawdown for SMB was -12.64%, occurring on Mar 19, 2020. Recovery took 65 trading sessions.

The maximum drawdown for NCA was -23.58%, occurring on Oct 10, 2008. Recovery took 580 trading sessions.

The current SMB drawdown is -0.19%. The current NCA drawdown is -4.95%.

Rank	SMB	NCA
#1	-12.64% Mar 9, 2020 - Jun 10, 2020	-23.58% May 15, 2007 - Sep 1, 2009
#2	-7.48% Jul 20, 2021 - Aug 20, 2024	-22.97% Sep 16, 2021 - Jan 7, 2026
#3	-5.58% Sep 11, 2008 - Jan 6, 2009	-19.28% Mar 3, 2020 - Sep 14, 2020
#4	-4.11% Aug 26, 2010 - May 17, 2011	-14.95% Jan 24, 2013 - Apr 25, 2014
#5	-4.10% Aug 2, 2016 - Aug 4, 2017	-14.28% Sep 2, 2010 - Nov 9, 2011
#6	-4.07% May 1, 2013 - Feb 14, 2014	-13.49% Sep 22, 2016 - Jul 9, 2019
#7	-3.84% Jan 29, 2009 - May 22, 2009	-13.48% Nov 2, 1999 - Mar 30, 2000
#8	-2.46% Aug 30, 2017 - Dec 24, 2018	-12.31% Jun 26, 2003 - Feb 12, 2004
#9	-2.37% Apr 10, 2008 - Aug 12, 2008	-12.29% Feb 17, 2004 - Nov 16, 2004
#10	-1.96% Oct 2, 2009 - Nov 27, 2009	-10.28% Sep 30, 2002 - Jun 12, 2003
#11	-1.80% Feb 28, 2025 - May 23, 2025	-9.19% Jan 20, 2021 - Jul 29, 2021
#12	-1.79% Feb 5, 2015 - Oct 16, 2015	-8.33% Mar 30, 2000 - Jun 9, 2000
#13	-1.62% May 22, 2009 - Jul 13, 2009	-7.94% Mar 7, 2001 - Jul 23, 2001
#14	-1.53% Jan 8, 2009 - Jan 12, 2009	-7.88% Mar 1, 2012 - May 4, 2012
#15	-1.49% Mar 12, 2010 - May 26, 2010	-7.72% Aug 10, 2000 - Jan 4, 2001

Correlation

Correlation between SMB and NCA is 0.95 which considered as a very strong positive correlation - the stocks move almost identically together.

0.95

-101

Dividend Comparison (2000 - 2026)

SMB vs NCA dividend yield comparison.

Year	SMB	NCA
2026	1.13%	1.61%
2025	2.63%	3.89%
2024	2.38%	4.12%
2023	1.83%	3.88%
2022	1.32%	3.66%
2021	1.24%	3.02%
2020	1.50%	2.98%
2019	1.58%	3.21%
2018	1.49%	3.79%
2017	1.23%	5.33%
2016	1.12%	4.36%
2015	1.13%	4.34%
2014	1.21%	4.45%
2013	1.38%	5.11%
2012	1.64%	4.69%
2011	1.93%	4.81%
2010	2.40%	5.32%
2009	2.38%	5.03%
2008	2.34%	6.90%
2007	0.00%	5.13%
2006	0.00%	4.78%
2005	0.00%	5.39%
2004	0.00%	6.01%
2003	0.00%	5.97%
2002	0.00%	5.49%
2001	0.00%	5.17%
2000	0.00%	2.31%