BXMX vs SPY

Comparison between NUVEEN S&P BUY-WRITE INCOME FUND (BXMX, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed BXMX, delivering a return of +13.3% compared to +7.4%

BXMX vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	BXMX(ETF)	SPY(ETF)
Net Assets	$1.70B	$652B
Expense Ratio	N/A	0.09%
Max Drawdown	61.71%	56.47%
Sharpe Ratio	0.35	2.07
5Y Beta	0.77	1.00
P/E Ratio	N/A	28.24
Forward P/E	N/A	21.85
5Y Dividends CAGR	9.64%	5.43%
5Y EPS CAGR	N/A	25.79%
Debt to Equity	N/A	22.35%
P/S Ratio	N/A	3.55
P/B Ratio	N/A	5.29

Net Assets

BXMX

$1.70B

Winner

SPY

$652B

Expense Ratio

BXMX

N/A

SPY

0.09%

Max Drawdown

BXMX

61.71%

Winner

SPY

56.47%

Sharpe Ratio

BXMX

0.35

Winner

SPY

2.07

5Y Beta

Winner

BXMX

0.77

SPY

1.00

P/E Ratio

BXMX

N/A

SPY

28.24

Forward P/E

BXMX

N/A

SPY

21.85

5Y Dividends CAGR

Winner

BXMX

9.64%

SPY

5.43%

5Y EPS CAGR

BXMX

N/A

SPY

25.79%

Debt to Equity

BXMX

N/A

SPY

22.35%

P/S Ratio

BXMX

N/A

SPY

3.55

P/B Ratio

BXMX

N/A

SPY

5.29

BXMX vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	BXMX	SPY
1 month	-7.53%	+9.11%
3 months	-6.25%	+6.59%
6 months	-3.10%	+10.56%
1 year	+8.56%	+32.04%
5 years(CAGR)	+7.42%	+13.35%
10 years(CAGR)	+8.28%	+15.49%
Max(CAGR)	+6.57%	+8.50%

BXMX

-7.53%

Winner

SPY

+9.11%

BXMX

-6.25%

Winner

SPY

+6.59%

BXMX

-3.10%

Winner

SPY

+10.56%

BXMX

+8.56%

Winner

SPY

+32.04%

5Y(CAGR)

BXMX

+7.42%

Winner

SPY

+13.35%

10Y(CAGR)

BXMX

+8.28%

Winner

SPY

+15.49%

Max(CAGR)

BXMX

+6.57%

Winner

SPY

+8.50%

BXMX vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	BXMX	SPY
2026	-7.97%	+8.27%
2025	+15.70%	+18.00%
2024	+17.34%	+25.59%
2023	+8.80%	+26.72%
2022	-8.53%	-18.64%
2021	+23.72%	+30.52%
2020	+1.67%	+17.28%
2019	+20.79%	+31.09%
2018	-9.14%	-5.24%
2017	+19.44%	+20.78%
2016	+3.88%	+13.59%
2015	+18.06%	+1.31%
2014	+5.63%	+14.56%
2013	+13.02%	+29.00%
2012	+14.76%	+14.17%
2011	-4.56%	+0.85%
2010	+7.22%	+13.14%
2009	+29.83%	+22.67%
2008	-26.44%	-36.25%
2007	-6.37%	+5.32%
2006	+18.58%	+13.85%
2005	-5.71%	+5.32%
2004	+1.66%	+10.75%
2003	N/A	+24.18%
2002	N/A	-22.42%
2001	N/A	-10.13%
2000	N/A	-8.84%
1999	N/A	+8.61%

BXMX vs SPY Drawdown Comparison

The maximum drawdown for BXMX was -49.45%, occurring on Mar 9, 2009. Recovery took 914 trading sessions.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current BXMX drawdown is -9.75%.

Rank	BXMX	SPY
#1	-49.45% Feb 12, 2007 - Sep 28, 2010	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-38.56% Dec 27, 2019 - Dec 30, 2020	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-22.42% Oct 1, 2018 - Nov 4, 2019	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-18.14% Jul 7, 2011 - Feb 23, 2012	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-17.92% Dec 30, 2021 - Jul 5, 2023	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-16.99% Sep 13, 2005 - Sep 1, 2006	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-16.88% Dec 29, 2015 - Jun 9, 2016	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-16.33% Feb 13, 2025 - Jun 27, 2025	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-12.20% Jul 5, 2023 - Feb 14, 2024	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-10.57% Oct 1, 2012 - Jan 17, 2013	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-9.75% Feb 9, 2026 - Mar 27, 2026	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-9.64% Jul 22, 2015 - Nov 18, 2015	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-9.15% Jan 26, 2018 - May 11, 2018	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-8.85% Sep 16, 2014 - Dec 4, 2014	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-8.83% Jul 5, 2024 - Sep 17, 2024	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between BXMX and SPY is 0.98 which considered as a very strong positive correlation - the stocks move almost identically together.

0.98

-101

Dividend Comparison (1999 - 2026)

BXMX vs SPY dividend yield comparison.

Year	BXMX	SPY
2026	2.06%	0.24%
2025	7.41%	1.07%
2024	7.02%	1.21%
2023	7.37%	1.40%
2022	7.48%	1.65%
2021	5.87%	1.20%
2020	6.81%	1.52%
2019	6.76%	1.75%
2018	8.12%	2.04%
2017	6.41%	1.80%
2016	7.33%	2.03%
2015	7.42%	2.06%
2014	8.22%	1.87%
2013	8.64%	1.81%
2012	9.16%	2.18%
2011	10.39%	2.05%
2010	9.76%	1.80%
2009	9.92%	1.95%
2008	14.25%	3.02%
2007	10.38%	1.85%
2006	8.87%	1.73%
2005	9.80%	1.73%
2004	0.70%	1.82%
2003	0.00%	1.47%
2002	0.00%	1.70%
2001	0.00%	1.25%
2000	0.00%	1.15%
1999	0.00%	0.24%