NMAI vs SCHD
Nuveen Multi-Asset Income Fund vs Schwab US Dividend Equity ETF
Which is better, NMAI or SCHD?
Allocation/Balanced against Large Cap Value.
SCHD has a lower expense ratio. NMAI led over 3Y, SCHD over 1Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | NMAI | SCHD |
|---|---|---|
| Expense Ratio | 1.87% | 0.06%Best |
| AUM | $495M | $111.6B |
| Dividend Yield | 9.61% | 3.24% |
| Holdings | 1,312 | 206 |
| YTD Return | +12.81% | +24.55%Best |
| 1Y Return | +15.33% | +29.85%Best |
| 3Y Return (annualized) | +20.25%Best | +16.64% |
| 5Y Return (annualized) | +5.50% | +9.54%Best |
| Volatility (annualized) | 18.8% | 15.1%Best |
| Max Drawdown | -35.6% | -16.9%Best |
| $10,000 over 5 years | $13,070 | $15,771Best |
| Fund Family | Nuveen | Charles Schwab Asset Management |
| Category | Allocation/Balanced | Equity |
| Style | Allocation/Balanced | Large Cap Value |
| Inception | Nov 22, 2021 | Oct 20, 2011 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Nov 22, 2021 to Oct 14, 2026 (4.9 years).
NMAI vs SCHD growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 4.9 years both funds cover.
NMAI vs SCHD Performance
Nuveen Multi-Asset Income Fund (NMAI) is an ETF from Nuveen and Schwab US Dividend Equity ETF (SCHD) is an ETF from Charles Schwab Asset Management. Over the past year NMAI returned +15.33% while SCHD returned +29.85%. Year to date, NMAI is up 12.81% versus a gain of 24.55% for SCHD.
Over three years, NMAI compounded at +20.25% per year against +16.64% for SCHD; over five years the annualized figures are +5.50% and +9.54% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NMAI has been the more volatile fund, with annualized monthly volatility of 18.8% compared with 15.1% for SCHD. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -35.6% for NMAI and -16.9% for SCHD. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.73. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
NMAI charges 1.87% per year while SCHD charges 0.06%. On a $10,000 position that is $187 vs $6 annually, a gap of $181 per year that compounds over a long holding period. On income, NMAI currently yields 9.61% against 3.24% for SCHD.
Holdings Overlap
At least 16.0% of SCHD's money is in holdings NMAI also owns.
Stated as a floor: for NMAI, our book for it covers 80.6% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
SCHD and NMAI share little of their money.
The two holdings books were reported 64 days apart, NMAI as of Jul 31, 2026 and SCHD as of Oct 3, 2026, so some of the difference between them is the time between the two reports rather than the funds.
4 positions in common, counted across the 659 positions we hold weights for in NMAI and 98 in SCHD, against full books of 1,312 and 206.
You are not choosing between two funds in isolation.
Whichever of NMAI and SCHD you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, NMAI or SCHD?
NMAI has an expense ratio of 1.87% while SCHD charges 0.06%. SCHD is the cheaper option, by $181 a year on a $10,000 investment.
Which performed better, NMAI or SCHD?
Over the past year NMAI returned +15.33% vs +29.85% for SCHD, so SCHD leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, NMAI or SCHD?
NMAI has been the more volatile fund at 18.8% annualized versus 15.1% for SCHD. Worst drawdown: NMAI -35.6% vs SCHD -16.9%.
Should I hold both NMAI and SCHD?
NMAI and SCHD have a monthly-return correlation of 0.73, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between NMAI and SCHD?
At least 16.0% of SCHD's money is in holdings NMAI also owns. Our book for NMAI is partial, so the real figure is this or higher. They hold 4 positions in common, counted across the 659 positions we hold weights for in NMAI and 98 in SCHD.
Which pays a higher dividend, NMAI or SCHD?
NMAI yields 9.61% while SCHD yields 3.24%, so NMAI currently pays the higher dividend yield.
Is SCHD better than NMAI?
SCHD has a lower expense ratio. NMAI led over 3Y, SCHD over 1Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.