NNY vs SPY
Nuveen New York Municipal Value Fund Inc. vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | NNY | SPY | Winner |
|---|---|---|---|
| Expense Ratio | - | 0.09% | |
| AUM | - | $821.1B | |
| Dividend Yield | 4.05% | 1.01% | |
| Holdings | 134 | 505 | |
| YTD Return | -1.66% | +12.22% | |
| 1Y Return | +6.19% | +20.83% | |
| 3Y Return (annualized) | +3.31% | +21.70% | |
| 5Y Return (annualized) | -0.66% | +12.98% | |
| Volatility (annualized) | 8.5% | 15.3% | |
| Max Drawdown | -40.0% | -56.5% | |
| Fund Family | Nuveen | State Street Investment Management | |
| Category | Tax Preferred | Equity | |
| Inception | Oct 7, 1987 | Jan 22, 1993 |
NNY vs SPY Performance
Nuveen New York Municipal Value Fund Inc. (NNY) 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 NNY returned +6.19% while SPY returned +20.83%. Year to date, NNY is down 1.66% versus a gain of 12.22% for SPY.
Over three years, NNY compounded at +3.31% per year against +21.70% for SPY; over five years the annualized figures are -0.66% and +12.98% respectively. Across the full 31-year window we track, SPY has the edge at +8.79% annualized vs -0.28%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 8.5% for NNY. 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 -40.0% for NNY 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 0.19. They move independently enough that combining them can meaningfully diversify a portfolio.
Holdings Overlap
NNY and SPY share 0 holdings out of 576 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which performed better, NNY or SPY?
Over the past year NNY returned +6.19% vs +20.83% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (31 years), NNY annualized -0.28% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, NNY or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 8.5% for NNY. Worst drawdown: NNY -40.0% vs SPY -56.5%.
Should I hold both NNY and SPY?
NNY and SPY have a monthly-return correlation of 0.19, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NNY and SPY?
NNY and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 576 unique securities.
Which pays a higher dividend, NNY or SPY?
NNY yields 4.05% while SPY yields 1.01%, so NNY currently pays the higher dividend yield.
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