JRI vs SPY
Nuveen Real Asset Income and Growth 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 | JRI | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 3.97% | 0.09% | |
| AUM | - | $821.1B | |
| Dividend Yield | 11.87% | 1.01% | |
| Holdings | 413 | 505 | |
| YTD Return | +0.49% | +14.24% | |
| 1Y Return | +7.13% | +21.71% | |
| 3Y Return (annualized) | +17.09% | +22.10% | |
| 5Y Return (annualized) | +5.69% | +13.21% | |
| Volatility (annualized) | 20.0% | 15.3% | |
| Max Drawdown | -64.3% | -56.5% | |
| Fund Family | Nuveen | State Street Investment Management | |
| Category | Allocation/Balanced | Equity | |
| Inception | Apr 25, 2012 | Jan 22, 1993 |
JRI vs SPY Performance
Nuveen Real Asset Income and Growth Fund (JRI) 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 JRI returned +7.13% while SPY returned +21.71%. Year to date, JRI is up 0.49% versus a gain of 14.24% for SPY.
Over three years, JRI compounded at +17.09% per year against +22.10% for SPY; over five years the annualized figures are +5.69% and +13.21% respectively. Across the full 14-year window we track, SPY has the edge at +8.86% annualized vs +1.09%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
JRI has been the more volatile fund, with annualized monthly volatility of 20.0% 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 -64.3% for JRI 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 0.73. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
JRI charges 3.97% per year while SPY charges 0.09%. On a $10,000 position that is $397 vs $9 annually, a gap of $388 per year that compounds over a long holding period. On income, JRI currently yields 11.87% against 1.01% for SPY.
Holdings Overlap
JRI and SPY share 43 holdings out of 708 unique holdings combined, representing a 2.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, JRI or SPY?
JRI has an expense ratio of 3.97% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $388 per year of difference.
Which performed better, JRI or SPY?
Over the past year JRI returned +7.13% vs +21.71% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (14 years), JRI annualized +1.09% vs +8.86% for SPY. Past performance does not guarantee future results.
Which is riskier, JRI or SPY?
JRI has been the more volatile fund at 20.0% annualized versus 15.3% for SPY. Worst drawdown: JRI -64.3% vs SPY -56.5%.
Should I hold both JRI and SPY?
JRI and SPY have a monthly-return correlation of 0.73, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between JRI and SPY?
JRI and SPY share 43 common holdings with a 2.7% weight overlap. Combined, they hold 708 unique securities.
Which pays a higher dividend, JRI or SPY?
JRI yields 11.87% while SPY yields 1.01%, so JRI currently pays the higher dividend yield.
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