JLS vs SPY
Nuveen Mortgage and 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 503 holdings.
Side-by-Side Comparison
| Metric | JLS | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.62% | 0.09% | |
| AUM | - | $789.1B | |
| Dividend Yield | 9.78% | 1.01% | |
| Holdings | 148 | 505 | |
| YTD Return | +1.23% | +13.75% | |
| 1Y Return | +1.07% | +22.91% | |
| 3Y Return (annualized) | +12.05% | +21.67% | |
| 5Y Return (annualized) | +4.68% | +13.32% | |
| Volatility (annualized) | 10.8% | 15.3% | |
| Max Drawdown | -51.2% | -56.5% | |
| Fund Family | Nuveen | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Nov 25, 2009 | Jan 22, 1993 |
JLS vs SPY Performance
Nuveen Mortgage and Income Fund (JLS) 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 JLS returned +1.07% while SPY returned +22.91%. Year to date, JLS is up 1.23% versus a gain of 13.75% for SPY.
Over three years, JLS compounded at +12.05% per year against +21.67% for SPY; over five years the annualized figures are +4.68% and +13.32% respectively. Across the full 17-year window we track, SPY has the edge at +8.85% annualized vs +0.55%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 10.8% for JLS. 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 -51.2% for JLS 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 0.53. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
JLS charges 1.62% per year while SPY charges 0.09%. On a $10,000 position that is $162 vs $9 annually, a gap of $153 per year that compounds over a long holding period. On income, JLS currently yields 9.78% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, JLS or SPY?
JLS has an expense ratio of 1.62% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $153 per year of difference.
Which performed better, JLS or SPY?
Over the past year JLS returned +1.07% vs +22.91% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (17 years), JLS annualized +0.55% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, JLS or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 10.8% for JLS. Worst drawdown: JLS -51.2% vs SPY -56.5%.
Should I hold both JLS and SPY?
JLS and SPY have a monthly-return correlation of 0.53, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, JLS or SPY?
JLS yields 9.78% while SPY yields 1.01%, so JLS currently pays the higher dividend yield.
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