NKX vs SPY
Comparison between Nuveen California AMT-Free Quality Municipal Income Fund (NKX, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed NKX, delivering a return of +13.3% compared to +0.8%
NKX vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
NKX vs SPY - Historical Returns
Returns include dividend reinvestment.
NKX vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | NKX | SPY |
|---|---|---|
| 2026 | +3.70% | +8.26% |
| 2025 | +4.64% | +18.00% |
| 2024 | +16.57% | +25.59% |
| 2023 | -3.34% | +26.72% |
| 2022 | -18.48% | -18.64% |
| 2021 | +4.57% | +30.52% |
| 2020 | +7.61% | +17.28% |
| 2019 | +23.74% | +31.09% |
| 2018 | -13.29% | -5.24% |
| 2017 | +12.78% | +20.78% |
| 2016 | -1.75% | +13.59% |
| 2015 | +11.55% | +1.31% |
| 2014 | +28.02% | +14.56% |
| 2013 | -13.32% | +29.00% |
| 2012 | +6.03% | +14.17% |
| 2011 | +28.66% | +0.85% |
| 2010 | +2.31% | +13.14% |
| 2009 | +26.36% | +22.67% |
| 2008 | -24.06% | -36.25% |
| 2007 | +0.18% | +5.32% |
| 2006 | +14.75% | +13.85% |
| 2005 | +0.57% | +5.32% |
| 2004 | +9.14% | +10.75% |
| 2003 | +0.81% | +24.18% |
| 2002 | N/A | -22.42% |
| 2001 | N/A | -10.13% |
| 2000 | N/A | -8.84% |
| 1999 | N/A | +8.61% |
NKX vs SPY Drawdown Comparison
The maximum drawdown for NKX was -43.86%, occurring on Oct 10, 2008. Recovery took 422 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current NKX drawdown is -2.23%. The current SPY drawdown is -2.90%.
| Rank | NKX | SPY |
|---|---|---|
| #1 | -43.86% Jan 14, 2008 - Sep 16, 2009 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -35.62% Nov 12, 2021 - Feb 11, 2026 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -27.52% Feb 7, 2020 - Aug 10, 2020 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -23.95% Nov 30, 2012 - Dec 10, 2014 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -19.95% Sep 8, 2016 - Jul 19, 2019 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -19.40% Aug 16, 2010 - Oct 27, 2011 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -15.06% Jun 13, 2003 - Sep 20, 2004 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -12.43% Apr 23, 2007 - Jan 14, 2008 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -9.74% Feb 11, 2026 - Mar 30, 2026 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -9.66% Oct 8, 2009 - Jun 18, 2010 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -9.63% Jun 2, 2006 - Oct 4, 2006 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -8.70% May 31, 2005 - Jan 23, 2006 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -7.75% Feb 15, 2012 - May 1, 2012 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -7.27% Jan 30, 2015 - Oct 8, 2015 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -6.76% Mar 14, 2005 - May 31, 2005 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between NKX and SPY is 0.85 which considered as a strong positive correlation - the stocks tend to move together.
Dividend Comparison (1999 - 2026)
NKX vs SPY dividend yield comparison.
| Year | NKX | SPY |
|---|---|---|
| 2026 | 3.03% | 0.24% |
| 2025 | 7.33% | 1.07% |
| 2024 | 6.14% | 1.21% |
| 2023 | 4.38% | 1.40% |
| 2022 | 5.17% | 1.65% |
| 2021 | 4.21% | 1.20% |
| 2020 | 4.05% | 1.52% |
| 2019 | 4.06% | 1.75% |
| 2018 | 5.25% | 2.04% |
| 2017 | 5.06% | 1.80% |
| 2016 | 6.18% | 2.03% |
| 2015 | 5.66% | 2.06% |
| 2014 | 5.24% | 1.87% |
| 2013 | 7.03% | 1.81% |
| 2012 | 5.64% | 2.18% |
| 2011 | 5.62% | 2.05% |
| 2010 | 6.56% | 1.80% |
| 2009 | 5.91% | 1.95% |
| 2008 | 7.35% | 3.02% |
| 2007 | 4.93% | 1.85% |
| 2006 | 4.85% | 1.73% |
| 2005 | 5.87% | 1.73% |
| 2004 | 6.27% | 1.82% |
| 2003 | 5.83% | 1.47% |
| 2002 | 0.00% | 1.70% |
| 2001 | 0.00% | 1.25% |
| 2000 | 0.00% | 1.15% |
| 1999 | 0.00% | 0.24% |
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