JPC vs SPY
Nuveen Preferred & Income Opportunities 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 | JPC | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 2.14% | 0.09% | |
| AUM | - | $821.1B | |
| Dividend Yield | 9.90% | 1.01% | |
| Holdings | 260 | 505 | |
| YTD Return | +0.98% | +14.24% | |
| 1Y Return | +5.02% | +21.71% | |
| 3Y Return (annualized) | +16.47% | +22.10% | |
| 5Y Return (annualized) | +3.56% | +13.21% | |
| Volatility (annualized) | 18.2% | 15.3% | |
| Max Drawdown | -82.5% | -56.5% | |
| Fund Family | Nuveen | State Street Investment Management | |
| Category | Allocation/Balanced | Equity | |
| Inception | Mar 26, 2003 | Jan 22, 1993 |
JPC vs SPY Performance
Nuveen Preferred & Income Opportunities Fund (JPC) 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 JPC returned +5.02% while SPY returned +21.71%. Year to date, JPC is up 0.98% versus a gain of 14.24% for SPY.
Over three years, JPC compounded at +16.47% per year against +22.10% for SPY; over five years the annualized figures are +3.56% and +13.21% respectively. Across the full 23-year window we track, SPY has the edge at +8.86% annualized vs -0.82%. 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 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 -82.5% for JPC 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 0.66. They move independently enough that combining them can meaningfully diversify a portfolio.
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
JPC and SPY share 5 holdings out of 713 unique holdings combined, representing a 0.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $205 per year of difference.
Which performed better, JPC or SPY?
Over the past year JPC returned +5.02% vs +21.71% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (23 years), JPC annualized -0.82% vs +8.86% for SPY. Past performance does not guarantee future results.
Which is riskier, JPC or SPY?
JPC has been the more volatile fund at 18.2% annualized versus 15.3% 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 combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between JPC and SPY?
JPC and SPY share 5 common holdings with a 0.7% weight overlap. Combined, they hold 713 unique securities.
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.
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