NQP vs SPY
Comparison between Nuveen Pennsylvania Quality Municipal Income Fund (NQP, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed NQP, delivering a return of +13.3% compared to +1.8%
NQP vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
NQP vs SPY - Historical Returns
Returns include dividend reinvestment.
NQP vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | NQP | SPY |
|---|---|---|
| 2026 | +3.66% | +8.26% |
| 2025 | +13.80% | +18.00% |
| 2024 | +2.62% | +25.59% |
| 2023 | +6.47% | +26.72% |
| 2022 | -21.77% | -18.64% |
| 2021 | +8.19% | +30.52% |
| 2020 | +7.04% | +17.28% |
| 2019 | +20.03% | +31.09% |
| 2018 | -2.21% | -5.24% |
| 2017 | +5.96% | +20.78% |
| 2016 | +0.25% | +13.59% |
| 2015 | +6.09% | +1.31% |
| 2014 | +18.12% | +14.56% |
| 2013 | -17.82% | +29.00% |
| 2012 | +8.75% | +14.17% |
| 2011 | +21.27% | +0.85% |
| 2010 | +7.77% | +13.14% |
| 2009 | +44.63% | +22.67% |
| 2008 | -26.11% | -36.25% |
| 2007 | -0.08% | +5.32% |
| 2006 | +3.60% | +13.85% |
| 2005 | -4.98% | +5.32% |
| 2004 | +6.42% | +10.75% |
| 2003 | +13.32% | +24.18% |
| 2002 | +5.30% | -22.42% |
| 2001 | +10.51% | -10.13% |
| 2000 | +10.51% | -8.84% |
| 1999 | -9.51% | +8.61% |
NQP vs SPY Drawdown Comparison
The maximum drawdown for NQP was -41.81%, occurring on Oct 10, 2008. Recovery took 380 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current NQP drawdown is -0.50%. The current SPY drawdown is -2.90%.
| Rank | NQP | SPY |
|---|---|---|
| #1 | -41.81% Jan 29, 2008 - Jul 31, 2009 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -32.39% Nov 30, 2021 - Apr 9, 2026 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -24.68% Dec 3, 2012 - Feb 2, 2015 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -24.09% Mar 4, 2020 - Dec 30, 2020 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -17.24% Mar 24, 2004 - Oct 25, 2004 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -15.87% Jul 13, 2016 - May 30, 2019 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -15.04% Nov 8, 1999 - Jul 10, 2000 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -14.41% Oct 18, 2010 - Jul 11, 2011 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -12.69% Feb 9, 2005 - May 2, 2007 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -11.88% Jun 16, 2003 - Jan 9, 2004 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -9.80% Mar 4, 2002 - Jul 8, 2002 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -9.46% Oct 1, 2002 - Apr 1, 2003 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -8.69% May 7, 2007 - Jan 10, 2008 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -8.60% Jul 25, 2000 - Jan 3, 2001 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -8.51% Sep 7, 2001 - Feb 5, 2002 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between NQP and SPY is 0.86 which considered as a strong positive correlation - the stocks tend to move together.
Dividend Comparison (1999 - 2026)
NQP vs SPY dividend yield comparison.
| Year | NQP | SPY |
|---|---|---|
| 2026 | 2.59% | 0.24% |
| 2025 | 7.87% | 1.07% |
| 2024 | 6.69% | 1.21% |
| 2023 | 3.07% | 1.40% |
| 2022 | 4.89% | 1.65% |
| 2021 | 4.51% | 1.20% |
| 2020 | 4.38% | 1.52% |
| 2019 | 4.23% | 1.75% |
| 2018 | 5.34% | 2.04% |
| 2017 | 5.34% | 1.80% |
| 2016 | 5.67% | 2.03% |
| 2015 | 6.10% | 2.06% |
| 2014 | 6.22% | 1.87% |
| 2013 | 6.90% | 1.81% |
| 2012 | 5.96% | 2.18% |
| 2011 | 6.04% | 2.05% |
| 2010 | 6.61% | 1.80% |
| 2009 | 5.67% | 1.95% |
| 2008 | 7.26% | 3.02% |
| 2007 | 5.00% | 1.85% |
| 2006 | 4.75% | 1.73% |
| 2005 | 6.72% | 1.73% |
| 2004 | 6.88% | 1.82% |
| 2003 | 5.92% | 1.47% |
| 2002 | 6.18% | 1.70% |
| 2001 | 6.12% | 1.25% |
| 2000 | 6.87% | 1.15% |
| 1999 | 1.21% | 0.24% |
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