JGH vs SPY
Nuveen Global High Income Fund vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | JGH | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 3.73% | 0.09% | |
| AUM | - | $821.1B | |
| Dividend Yield | 9.15% | 1.01% | |
| Holdings | 386 | 505 | |
| YTD Return | +5.20% | +14.24% | |
| 1Y Return | +1.64% | +21.71% | |
| 3Y Return (annualized) | +12.79% | +22.10% | |
| 5Y Return (annualized) | +4.98% | +13.21% | |
| Volatility (annualized) | 16.1% | 15.3% | |
| Max Drawdown | -48.9% | -56.5% | |
| Fund Family | Nuveen | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Nov 24, 2014 | Jan 22, 1993 |
JGH vs SPY Performance
Nuveen Global High Income Fund (JGH) is a ETF from Nuveen and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year JGH returned +1.64% while SPY returned +21.71%. Year to date, JGH is up 5.20% versus a gain of 14.24% for SPY.
Over three years, JGH compounded at +12.79% per year against +22.10% for SPY; over five years the annualized figures are +4.98% and +13.21% respectively. Across the full 12-year window we track, SPY has the edge at +8.86% annualized vs +1.38%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
JGH has been the more volatile fund, with annualized monthly volatility of 16.1% compared with 15.3% 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 -48.9% for JGH and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.76. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
JGH charges 3.73% per year while SPY charges 0.09%. On a $10,000 position that is $373 vs $9 annually, a gap of $364 per year that compounds over a long holding period. On income, JGH currently yields 9.15% against 1.01% for SPY.
Holdings Overlap
JGH and SPY share 0 holdings out of 518 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, JGH or SPY?
JGH has an expense ratio of 3.73% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $364 per year of difference.
Which performed better, JGH or SPY?
Over the past year JGH returned +1.64% vs +21.71% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (12 years), JGH annualized +1.38% vs +8.86% for SPY. Past performance does not guarantee future results.
Which is riskier, JGH or SPY?
JGH has been the more volatile fund at 16.1% annualized versus 15.3% for SPY. Worst drawdown: JGH -48.9% vs SPY -56.5%.
Should I hold both JGH and SPY?
JGH and SPY have a monthly-return correlation of 0.76, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between JGH and SPY?
JGH and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 518 unique securities.
Which pays a higher dividend, JGH or SPY?
JGH yields 9.15% while SPY yields 1.01%, so JGH currently pays the higher dividend yield.
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