JFR vs SPY
Nuveen Floating Rate Income Fund vs State Street SPDR S&P 500 ETF Trust
Which is better, JFR or SPY?
Bank Loan against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | JFR | SPY |
|---|---|---|
| Expense Ratio | 5.52% | 0.09%Best |
| AUM | - | $814.4B |
| Dividend Yield | 11.84% | 1.01% |
| Holdings | 450 | 505 |
| YTD Return | +6.04% | +13.34%Best |
| 1Y Return | +2.76% | +19.97%Best |
| 3Y Return (annualized) | +10.36% | +21.20%Best |
| 5Y Return (annualized) | +5.62% | +12.81%Best |
| Volatility (annualized) | 15.3% | 14.7%Best |
| Max Drawdown | -69.0% | -56.5%Best |
| $10,000 over 5 years | $13,144 | $18,270Best |
| Fund Family | Nuveen | State Street Investment Management |
| Category | Fixed Income | Equity |
| Style | Bank Loan | Large Cap Blend |
| Inception | Mar 25, 2004 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Mar 26, 2004 to Sep 4, 2026 (22.4 years).
JFR vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
JFR vs SPY Performance
Nuveen Floating Rate Income Fund (JFR) is an ETF from Nuveen and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year JFR returned +2.76% while SPY returned +19.97%. Year to date, JFR is up 6.04% versus a gain of 13.34% for SPY.
Over three years, JFR compounded at +10.36% per year against +21.20% for SPY; over five years the annualized figures are +5.62% and +12.81% respectively. Across the full 22-year window we track, SPY has the edge at +9.37% annualized vs -0.40%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
JFR has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 14.7% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -69.0% for JFR and -56.5% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.60. They move together some of the time, and apart the rest.
Fees and Cost Over Time
JFR charges 5.52% per year while SPY charges 0.09%. On a $10,000 position that is $552 vs $9 annually, a gap of $543 per year that compounds over a long holding period. On income, JFR currently yields 11.84% against 1.01% for SPY.
Holdings Overlap
We hold position weights for 270 holdings in JFR and 504 in SPY, totalling 110.0% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 277 days apart, JFR as of Oct 31, 2025 and SPY as of Aug 4, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 270 positions we hold weights for in JFR and 504 in SPY, against full books of 450 and 505.
You are not choosing between two funds in isolation.
Whichever of JFR and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, JFR or SPY?
JFR has an expense ratio of 5.52% while SPY charges 0.09%. SPY is the cheaper option, by $543 a year on a $10,000 investment.
Which performed better, JFR or SPY?
Over the past year JFR returned +2.76% vs +19.97% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (22 years), JFR annualized -0.40% vs +9.37% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, JFR or SPY?
JFR has been the more volatile fund at 15.3% annualized versus 14.7% for SPY. Worst drawdown: JFR -69.0% vs SPY -56.5%.
Should I hold both JFR and SPY?
JFR and SPY have a monthly-return correlation of 0.60, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, JFR or SPY?
JFR yields 11.84% while SPY yields 1.01%, so JFR currently pays the higher dividend yield.
Is SPY better than JFR?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.