NAC vs SPY

Comparison between Nuveen California Quality Municipal Income Fund (NAC, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed NAC, delivering a return of +13.3% compared to +0.8%

NAC vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	NAC(ETF)	SPY(ETF)
Net Assets	$1.80B	$652B
Expense Ratio	N/A	0.09%
Max Drawdown	53.70%	56.47%
Sharpe Ratio	1.66	2.07
5Y Beta	0.15	1.00
P/E Ratio	N/A	28.24
Forward P/E	N/A	21.85
5Y Dividends CAGR	8.29%	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

NAC

$1.80B

Winner

SPY

$652B

Expense Ratio

NAC

N/A

SPY

0.09%

Max Drawdown

Winner

NAC

53.70%

SPY

56.47%

Sharpe Ratio

NAC

1.66

Winner

SPY

2.07

5Y Beta

Winner

NAC

0.15

SPY

1.00

P/E Ratio

NAC

N/A

SPY

28.24

Forward P/E

NAC

N/A

SPY

21.85

5Y Dividends CAGR

Winner

NAC

8.29%

SPY

5.43%

5Y EPS CAGR

NAC

N/A

SPY

25.79%

Debt to Equity

NAC

N/A

SPY

22.35%

P/S Ratio

NAC

N/A

SPY

3.55

P/B Ratio

NAC

N/A

SPY

5.29

NAC vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	NAC	SPY
1 month	+2.69%	+9.11%
3 months	+2.48%	+6.59%
6 months	+3.26%	+10.56%
1 year	+17.32%	+32.04%
5 years(CAGR)	+0.81%	+13.35%
10 years(CAGR)	+2.09%	+15.49%
Max(CAGR)	+5.70%	+8.50%

NAC

+2.69%

Winner

SPY

+9.11%

NAC

+2.48%

Winner

SPY

+6.59%

NAC

+3.26%

Winner

SPY

+10.56%

NAC

+17.32%

Winner

SPY

+32.04%

5Y(CAGR)

NAC

+0.81%

Winner

SPY

+13.35%

10Y(CAGR)

NAC

+2.09%

Winner

SPY

+15.49%

Max(CAGR)

NAC

+5.70%

Winner

SPY

+8.50%

NAC vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	NAC	SPY
2026	+3.72%	+8.27%
2025	+11.67%	+18.00%
2024	+8.68%	+25.59%
2023	+3.70%	+26.72%
2022	-25.50%	-18.64%
2021	+7.55%	+30.52%
2020	+6.05%	+17.28%
2019	+20.38%	+31.09%
2018	-6.49%	-5.24%
2017	+6.56%	+20.78%
2016	-3.29%	+13.59%
2015	+9.41%	+1.31%
2014	+24.72%	+14.56%
2013	-16.01%	+29.00%
2012	+20.46%	+14.17%
2011	+25.12%	+0.85%
2010	+5.90%	+13.14%
2009	+30.62%	+22.67%
2008	-22.57%	-36.25%
2007	-11.93%	+5.32%
2006	+3.46%	+13.85%
2005	+15.65%	+5.32%
2004	+4.51%	+10.75%
2003	+11.16%	+24.18%
2002	+9.23%	-22.42%
2001	+9.47%	-10.13%
2000	+22.89%	-8.84%
1999	-13.99%	+8.61%

NAC vs SPY Drawdown Comparison

The maximum drawdown for NAC was -46.34%, occurring on Dec 12, 2008. Recovery took 607 trading sessions.

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

The current NAC drawdown is -2.46%.

Rank	NAC	SPY
#1	-46.34% May 8, 2007 - Oct 2, 2009	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-36.30% Sep 14, 2021 - Oct 25, 2023	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-28.72% Feb 21, 2020 - Dec 7, 2020	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-24.55% Jan 4, 2013 - Oct 30, 2014	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-18.84% Jul 8, 2016 - Jul 18, 2019	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-17.75% Sep 9, 2010 - Sep 1, 2011	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-15.95% Nov 2, 1999 - Jul 7, 2000	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-15.23% Mar 11, 2004 - Oct 15, 2004	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-10.99% Jun 13, 2003 - Jan 14, 2004	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-10.27% Oct 8, 2009 - May 5, 2010	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-8.73% Nov 15, 2001 - Jul 9, 2002	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-8.50% Sep 7, 2000 - Dec 22, 2000	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-8.45% Feb 29, 2012 - May 3, 2012	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-7.68% Sep 3, 2019 - Jan 30, 2020	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-7.64% Jan 31, 2001 - Jul 18, 2001	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between NAC and SPY is 0.82 which considered as a strong positive correlation - the stocks tend to move together.

0.82

-101

Dividend Comparison (1999 - 2026)

NAC vs SPY dividend yield comparison.

Year	NAC	SPY
2026	2.45%	0.24%
2025	7.47%	1.07%
2024	6.63%	1.21%
2023	4.03%	1.40%
2022	5.47%	1.65%
2021	4.18%	1.20%
2020	4.17%	1.52%
2019	4.38%	1.75%
2018	5.34%	2.04%
2017	5.54%	1.80%
2016	6.25%	2.03%
2015	6.05%	2.06%
2014	5.61%	1.87%
2013	6.92%	1.81%
2012	5.72%	2.18%
2011	6.38%	2.05%
2010	7.16%	1.80%
2009	6.40%	1.95%
2008	10.52%	3.02%
2007	6.01%	1.85%
2006	5.77%	1.73%
2005	6.22%	1.73%
2004	6.92%	1.82%
2003	6.26%	1.47%
2002	6.47%	1.70%
2001	6.21%	1.25%
2000	6.07%	1.15%
1999	1.19%	0.24%