JRI vs SPY
Nuveen Real Asset Income and Growth Fund vs State Street SPDR S&P 500 ETF Trust
Which is better, JRI or SPY?
Allocation/Balanced 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 | JRI | SPY |
|---|---|---|
| Expense Ratio | 3.97% | 0.09%Best |
| AUM | - | $814.4B |
| Dividend Yield | 11.87% | 1.01% |
| Holdings | 413 | 505 |
| YTD Return | -3.26% | +13.34%Best |
| 1Y Return | +0.91% | +19.97%Best |
| 3Y Return (annualized) | +16.14% | +21.20%Best |
| 5Y Return (annualized) | +4.71% | +12.81%Best |
| Volatility (annualized) | 20.0% | 14.1%Best |
| Max Drawdown | -64.3% | -34.1%Best |
| $10,000 over 5 years | $12,588 | $18,270Best |
| Fund Family | Nuveen | State Street Investment Management |
| Category | Allocation/Balanced | Equity |
| Style | Allocation/Balanced | Large Cap Blend |
| Inception | Apr 25, 2012 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Apr 25, 2012 to Sep 4, 2026 (14.4 years).
JRI 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.
JRI vs SPY Performance
Nuveen Real Asset Income and Growth Fund (JRI) 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 JRI returned +0.91% while SPY returned +19.97%. Year to date, JRI is down 3.26% versus a gain of 13.34% for SPY.
Over three years, JRI compounded at +16.14% per year against +21.20% for SPY; over five years the annualized figures are +4.71% and +12.81% respectively. Across the full 14-year window we track, SPY has the edge at +13.24% annualized vs +0.81%.
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 14.1% 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 -34.1% 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 0.72. 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
At least 2.8% of SPY's money is in holdings JRI also owns.
Stated as a floor: for JRI, our book for it covers 69.9% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
SPY and JRI share little of their money.
The two holdings books were reported 186 days apart, JRI as of Jan 30, 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.
43 positions in common, counted across the 247 positions we hold weights for in JRI and 504 in SPY, against full books of 413 and 505.
Top Shared Holdings
| Stock | Weight in JRI | Weight in SPY | Difference |
|---|---|---|---|
| SOSouthern Co. | 1.29% | 0.16% | 1.13% |
| SPGSimon Property Group Inc | 1.15% | 0.11% | 1.04% |
| OKEOneok Inc. | 1.15% | 0.08% | 1.07% |
| EVRGEvergy Inc. | 1.13% | 0.03% | 1.10% |
| CCICrown Castle International Corp | 0.99% | 0.05% | 0.94% |
| KMIKinder Morgan Inc./de | 0.94% | 0.09% | 0.85% |
| DDominion Energy Inc. | 0.75% | 0.09% | 0.66% |
| NEENextera Energy Inc | 0.45% | 0.27% | 0.18% |
| VSTVistra Energy Corp. | 0.54% | 0.07% | 0.47% |
| DUKDuke Energy Corp | 0.45% | 0.15% | 0.30% |
You are not choosing between two funds in isolation.
Whichever of JRI 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, JRI or SPY?
JRI has an expense ratio of 3.97% while SPY charges 0.09%. SPY is the cheaper option, by $388 a year on a $10,000 investment.
Which performed better, JRI or SPY?
Over the past year JRI returned +0.91% vs +19.97% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (14 years), JRI annualized +0.81% vs +13.24% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, JRI or SPY?
JRI has been the more volatile fund at 20.0% annualized versus 14.1% for SPY. Worst drawdown: JRI -64.3% vs SPY -34.1%.
Should I hold both JRI and SPY?
JRI and SPY have a monthly-return correlation of 0.72, 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 JRI and SPY?
At least 2.8% of SPY's money is in holdings JRI also owns. Our book for JRI is partial, so the real figure is this or higher. They hold 43 positions in common, counted across the 247 positions we hold weights for in JRI and 504 in SPY.
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.
Is SPY better than JRI?
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.