SPXX vs MUNI
Comparison between Nuveen S&P 500 Dynamic Overwrite Fund (SPXX, ETF) and PIMCO INTERMEDIATE MUNICIPAL BOND ACTIVE EXCHANGE-TRADED FUND (MUNI, ETF).
5-Year PerformanceSPXX has outperformed MUNI, delivering a return of +7.3% compared to +1.3%
SPXX vs MUNI - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
SPXX vs MUNI - Historical Returns
Returns include dividend reinvestment.
SPXX vs MUNI - Annual Returns (2005 - 2026)
Returns include dividend reinvestment.
| Year | SPXX | MUNI |
|---|---|---|
| 2026 | +3.11% | +1.30% |
| 2025 | +11.56% | +4.61% |
| 2024 | +28.64% | +1.60% |
| 2023 | +1.77% | +5.98% |
| 2022 | -7.14% | -6.69% |
| 2021 | +31.06% | +0.64% |
| 2020 | +0.75% | +4.77% |
| 2019 | +23.48% | +6.95% |
| 2018 | -14.40% | +1.10% |
| 2017 | +28.09% | +4.72% |
| 2016 | +14.57% | -0.48% |
| 2015 | +2.35% | +2.66% |
| 2014 | +9.85% | +5.58% |
| 2013 | +15.93% | -2.51% |
| 2012 | +15.76% | +4.73% |
| 2011 | -5.57% | +8.18% |
| 2010 | +13.97% | +3.95% |
| 2009 | +28.61% | -0.37% |
| 2008 | -29.58% | N/A |
| 2007 | -4.08% | N/A |
| 2006 | +22.10% | N/A |
| 2005 | -13.75% | N/A |
SPXX vs MUNI Drawdown Comparison
The maximum drawdown for SPXX was -52.38%, occurring on Mar 9, 2009. Recovery took 924 trading sessions.
The maximum drawdown for MUNI was -11.15%, occurring on Oct 25, 2022. Recovery took 766 trading sessions.
The current SPXX drawdown is -1.77%. The current MUNI drawdown is -0.65%.
| Rank | SPXX | MUNI |
|---|---|---|
| #1 | -52.38% Apr 12, 2007 - Dec 9, 2010 | -11.15% Jul 19, 2021 - Aug 5, 2024 |
| #2 | -43.80% Jun 7, 2018 - Mar 1, 2021 | -10.81% Mar 9, 2020 - Jul 16, 2020 |
| #3 | -18.59% Dec 14, 2010 - Feb 13, 2012 | -6.25% May 2, 2013 - Aug 11, 2014 |
| #4 | -18.06% Jan 12, 2022 - Dec 1, 2022 | -5.09% Aug 23, 2016 - Aug 14, 2017 |
| #5 | -17.95% Dec 1, 2022 - Jun 6, 2024 | -4.13% Aug 31, 2010 - May 18, 2011 |
| #6 | -17.67% Feb 19, 2025 - Jun 30, 2025 | -3.67% Feb 28, 2025 - Sep 5, 2025 |
| #7 | -14.69% Nov 30, 2005 - Aug 31, 2006 | -2.70% Jan 30, 2015 - Dec 1, 2015 |
| #8 | -14.67% Nov 24, 2015 - Apr 12, 2016 | -2.29% Feb 27, 2026 - Mar 26, 2026 |
| #9 | -11.85% Jan 12, 2026 - May 13, 2026 | -2.27% Oct 2, 2024 - Dec 6, 2024 |
| #10 | -11.20% Oct 1, 2012 - Jan 11, 2013 | -2.26% Dec 6, 2024 - Feb 26, 2025 |
| #11 | -9.73% Jun 15, 2021 - Dec 30, 2021 | -2.25% Sep 22, 2011 - Dec 6, 2011 |
| #12 | -9.68% Jul 16, 2015 - Nov 3, 2015 | -1.99% Dec 5, 2012 - May 1, 2013 |
| #13 | -7.94% Jan 26, 2018 - May 4, 2018 | -1.80% Sep 8, 2017 - Aug 15, 2018 |
| #14 | -7.77% Apr 2, 2012 - Jul 27, 2012 | -1.73% Feb 11, 2021 - Jun 9, 2021 |
| #15 | -7.69% Jul 16, 2024 - Aug 26, 2024 | -1.66% Mar 12, 2010 - May 21, 2010 |
Correlation
Correlation between SPXX and MUNI is 0.93 which considered as a very strong positive correlation - the stocks move almost identically together.
Dividend Comparison (2006 - 2026)
SPXX vs MUNI dividend yield comparison.
| Year | SPXX | MUNI |
|---|---|---|
| 2026 | 4.26% | 1.35% |
| 2025 | 7.48% | 3.26% |
| 2024 | 6.87% | 3.50% |
| 2023 | 7.82% | 3.09% |
| 2022 | 7.30% | 2.13% |
| 2021 | 5.27% | 1.62% |
| 2020 | 6.56% | 1.92% |
| 2019 | 6.44% | 2.44% |
| 2018 | 7.98% | 2.38% |
| 2017 | 5.69% | 2.37% |
| 2016 | 5.14% | 2.37% |
| 2015 | 7.75% | 2.20% |
| 2014 | 7.30% | 1.91% |
| 2013 | 7.93% | 2.30% |
| 2012 | 8.66% | 2.27% |
| 2011 | 9.28% | 2.33% |
| 2010 | 8.09% | 2.54% |
| 2009 | 8.56% | 0.09% |
| 2008 | 13.80% | 0.00% |
| 2007 | 9.46% | 0.00% |
| 2006 | 8.36% | 0.00% |
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