JPC vs SPY
Nuveen Preferred & Income Opportunities Fund vs State Street SPDR S&P 500 ETF Trust
Which is better, JPC or SPY?
Preferred Stock 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 | JPC | SPY |
|---|---|---|
| Expense Ratio | 2.14% | 0.09%Best |
| AUM | - | $814.4B |
| Dividend Yield | 9.90% | 1.01% |
| Holdings | 260 | 505 |
| YTD Return | -3.50% | +13.34%Best |
| 1Y Return | -0.83% | +19.97%Best |
| 3Y Return (annualized) | +14.19% | +21.20%Best |
| 5Y Return (annualized) | +2.75% | +12.81%Best |
| Volatility (annualized) | 18.2% | 14.5%Best |
| Max Drawdown | -82.5% | -56.5%Best |
| $10,000 over 5 years | $11,453 | $18,270Best |
| Fund Family | Nuveen | State Street Investment Management |
| Category | Allocation/Balanced | Equity |
| Style | Preferred Stock | Large Cap Blend |
| Inception | Mar 26, 2003 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Mar 27, 2003 to Sep 4, 2026 (23.4 years).
JPC 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.
JPC vs SPY Performance
Nuveen Preferred & Income Opportunities Fund (JPC) 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 JPC returned -0.83% while SPY returned +19.97%. Year to date, JPC is down 3.50% versus a gain of 13.34% for SPY.
Over three years, JPC compounded at +14.19% per year against +21.20% for SPY; over five years the annualized figures are +2.75% and +12.81% respectively. Across the full 23-year window we track, SPY has the edge at +10.09% annualized vs -1.01%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
JPC has been the more volatile fund, with annualized monthly volatility of 18.2% compared with 14.5% 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 -82.5% for JPC 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 0.66. They move together some of the time, and apart the rest.
Fees and Cost Over Time
JPC charges 2.14% per year while SPY charges 0.09%. On a $10,000 position that is $214 vs $9 annually, a gap of $205 per year that compounds over a long holding period. On income, JPC currently yields 9.90% against 1.01% for SPY.
Holdings Overlap
At least 1.1% of SPY's money is in holdings JPC also owns.
Only one direction is shown: for JPC, our book for it lists positions totalling 132.1% of the fund, which is what a leveraged book looks like and is not a denominator we can divide by.
SPY and JPC share little of their money.
The two holdings books were reported 185 days apart, JPC as of Jan 31, 2026 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.
5 positions in common, counted across the 214 positions we hold weights for in JPC and 504 in SPY, against full books of 260 and 505.
You are not choosing between two funds in isolation.
Whichever of JPC 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, JPC or SPY?
JPC has an expense ratio of 2.14% while SPY charges 0.09%. SPY is the cheaper option, by $205 a year on a $10,000 investment.
Which performed better, JPC or SPY?
Over the past year JPC returned -0.83% vs +19.97% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (23 years), JPC annualized -1.01% vs +10.09% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, JPC or SPY?
JPC has been the more volatile fund at 18.2% annualized versus 14.5% for SPY. Worst drawdown: JPC -82.5% vs SPY -56.5%.
Should I hold both JPC and SPY?
JPC and SPY have a monthly-return correlation of 0.66, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between JPC and SPY?
At least 1.1% of SPY's money is in holdings JPC also owns. Our book for JPC is partial, so the real figure is this or higher. They hold 5 positions in common, counted across the 214 positions we hold weights for in JPC and 504 in SPY.
Which pays a higher dividend, JPC or SPY?
JPC yields 9.90% while SPY yields 1.01%, so JPC currently pays the higher dividend yield.
Is SPY better than JPC?
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.