NDMO vs SPY
Nuveen Dynamic Municipal Opportunities Fund vs State Street SPDR S&P 500 ETF Trust
Which is better, NDMO or SPY?
Municipal Bond 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 | NDMO | SPY |
|---|---|---|
| Expense Ratio | 2.92% | 0.09%Best |
| AUM | - | $804.7B |
| Dividend Yield | 7.27% | 0.98% |
| Holdings | 543 | 505 |
| YTD Return | -2.86% | +12.22%Best |
| 1Y Return | -3.70% | +16.97%Best |
| 3Y Return (annualized) | +4.66% | +21.16%Best |
| 5Y Return (annualized) | -3.79% | +13.00%Best |
| Volatility (annualized) | 18.3% | 15.4%Best |
| Max Drawdown | -42.5% | -24.5%Best |
| $10,000 over 5 years | $8,243 | $18,424Best |
| Fund Family | Nuveen | State Street Investment Management |
| Category | Tax Preferred | Equity |
| Style | Municipal Bond | Large Cap Blend |
| Inception | Aug 26, 2020 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Aug 27, 2020 to Sep 17, 2026 (6.1 years).
NDMO 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 covers the 6.1 years both funds cover.
NDMO vs SPY Performance
Nuveen Dynamic Municipal Opportunities Fund (NDMO) 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 NDMO returned -3.70% while SPY returned +16.97%. Year to date, NDMO is down 2.86% versus a gain of 12.22% for SPY.
Over three years, NDMO compounded at +4.66% per year against +21.16% for SPY; over five years the annualized figures are -3.79% and +13.00% respectively. Across the full 6-year window we track, SPY has the edge at +15.22% annualized vs -1.48%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NDMO has been the more volatile fund, with annualized monthly volatility of 18.3% compared with 15.4% 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 -42.5% for NDMO and -24.5% 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 0.60. They move together some of the time, and apart the rest.
Fees and Cost Over Time
NDMO charges 2.92% per year while SPY charges 0.09%. On a $10,000 position that is $292 vs $9 annually, a gap of $283 per year that compounds over a long holding period. On income, NDMO currently yields 7.27% against 0.98% for SPY.
You are not choosing between two funds in isolation.
Whichever of NDMO 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, NDMO or SPY?
NDMO has an expense ratio of 2.92% while SPY charges 0.09%. SPY is the cheaper option, by $283 a year on a $10,000 investment.
Which performed better, NDMO or SPY?
Over the past year NDMO returned -3.70% vs +16.97% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), NDMO annualized -1.48% vs +15.22% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, NDMO or SPY?
NDMO has been the more volatile fund at 18.3% annualized versus 15.4% for SPY. Worst drawdown: NDMO -42.5% vs SPY -24.5%.
Should I hold both NDMO and SPY?
NDMO and SPY have a monthly-return correlation of 0.60, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, NDMO or SPY?
NDMO yields 7.27% while SPY yields 0.98%, so NDMO currently pays the higher dividend yield.
Is SPY better than NDMO?
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.