SPXX vs SPY

Comparison between Nuveen S&P 500 Dynamic Overwrite Fund (SPXX, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed SPXX, delivering a return of +13.3% compared to +8.0%

SPXX vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	SPXX(ETF)	SPY(ETF)
Net Assets	$2.50B	$652B
Expense Ratio	N/A	0.09%
Max Drawdown	59.96%	56.47%
Sharpe Ratio	0.95	2.07
5Y Beta	0.80	1.00
P/E Ratio	N/A	28.24
Forward P/E	N/A	21.85
5Y Dividends CAGR	11.48%	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

SPXX

$2.50B

Winner

SPY

$652B

Expense Ratio

SPXX

N/A

SPY

0.09%

Max Drawdown

SPXX

59.96%

Winner

SPY

56.47%

Sharpe Ratio

SPXX

0.95

Winner

SPY

2.07

5Y Beta

Winner

SPXX

0.80

SPY

1.00

P/E Ratio

SPXX

N/A

SPY

28.24

Forward P/E

SPXX

N/A

SPY

21.85

5Y Dividends CAGR

Winner

SPXX

11.48%

SPY

5.43%

5Y EPS CAGR

SPXX

N/A

SPY

25.79%

Debt to Equity

SPXX

N/A

SPY

22.35%

P/S Ratio

SPXX

N/A

SPY

3.55

P/B Ratio

SPXX

N/A

SPY

5.29

SPXX vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	SPXX	SPY
1 month	+7.16%	+9.11%
3 months	+0.27%	+6.59%
6 months	+6.60%	+10.56%
1 year	+15.10%	+32.04%
5 years(CAGR)	+8.02%	+13.35%
10 years(CAGR)	+10.12%	+15.49%
Max(CAGR)	+7.36%	+8.50%

SPXX

+7.16%

Winner

SPY

+9.11%

SPXX

+0.27%

Winner

SPY

+6.59%

SPXX

+6.60%

Winner

SPY

+10.56%

SPXX

+15.10%

Winner

SPY

+32.04%

5Y(CAGR)

SPXX

+8.02%

Winner

SPY

+13.35%

10Y(CAGR)

SPXX

+10.12%

Winner

SPY

+15.49%

Max(CAGR)

SPXX

+7.36%

Winner

SPY

+8.50%

SPXX vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	SPXX	SPY
2026	+0.77%	+8.27%
2025	+11.56%	+18.00%
2024	+28.64%	+25.59%
2023	+1.77%	+26.72%
2022	-7.14%	-18.64%
2021	+31.06%	+30.52%
2020	+0.75%	+17.28%
2019	+23.48%	+31.09%
2018	-14.40%	-5.24%
2017	+28.09%	+20.78%
2016	+14.57%	+13.59%
2015	+2.35%	+1.31%
2014	+9.85%	+14.56%
2013	+15.93%	+29.00%
2012	+15.76%	+14.17%
2011	-5.57%	+0.85%
2010	+13.97%	+13.14%
2009	+28.61%	+22.67%
2008	-29.58%	-36.25%
2007	-4.08%	+5.32%
2006	+22.10%	+13.85%
2005	-13.75%	+5.32%
2004	N/A	+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%

SPXX vs SPY Drawdown Comparison

The maximum drawdown for SPXX was -52.38%, occurring on Mar 9, 2009. Recovery took 924 trading sessions.

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

The current SPXX drawdown is -0.88%.

Rank	SPXX	SPY
#1	-52.38% Apr 12, 2007 - Dec 9, 2010	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-43.80% Jun 7, 2018 - Mar 1, 2021	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-18.59% Dec 14, 2010 - Feb 13, 2012	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-18.06% Jan 12, 2022 - Dec 1, 2022	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-17.95% Dec 1, 2022 - Jun 6, 2024	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-17.67% Feb 19, 2025 - Jun 30, 2025	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-14.69% Nov 30, 2005 - Aug 31, 2006	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-14.67% Nov 24, 2015 - Apr 12, 2016	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-11.85% Jan 12, 2026 - Mar 30, 2026	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-11.20% Oct 1, 2012 - Jan 11, 2013	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-9.73% Jun 15, 2021 - Dec 30, 2021	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-9.68% Jul 16, 2015 - Nov 3, 2015	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-7.94% Jan 26, 2018 - May 4, 2018	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-7.77% Apr 2, 2012 - Jul 27, 2012	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-7.69% Jul 16, 2024 - Aug 26, 2024	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between SPXX 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)

SPXX vs SPY dividend yield comparison.

Year	SPXX	SPY
2026	1.90%	0.24%
2025	7.48%	1.07%
2024	6.87%	1.21%
2023	7.82%	1.40%
2022	7.30%	1.65%
2021	5.27%	1.20%
2020	6.56%	1.52%
2019	6.44%	1.75%
2018	7.98%	2.04%
2017	5.69%	1.80%
2016	5.14%	2.03%
2015	7.75%	2.06%
2014	7.30%	1.87%
2013	7.93%	1.81%
2012	8.66%	2.18%
2011	9.28%	2.05%
2010	8.09%	1.80%
2009	8.56%	1.95%
2008	13.80%	3.02%
2007	9.46%	1.85%
2006	8.36%	1.73%
2005	0.00%	1.73%
2004	0.00%	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%