NNY vs SPY
Nuveen New York Municipal Value Fund Inc. vs State Street SPDR S&P 500 ETF Trust
Which is better, NNY or SPY?
Municipal New York against Large Cap Blend.
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 | NNY | SPY |
|---|---|---|
| Expense Ratio | - | 0.09% |
| AUM | - | $804.7B |
| Dividend Yield | 4.08% | 0.98% |
| Holdings | 134 | 505 |
| YTD Return | -4.55% | +11.52%Best |
| 1Y Return | +0.69% | +17.48%Best |
| 3Y Return (annualized) | +3.03% | +20.62%Best |
| 5Y Return (annualized) | -0.90% | +12.73%Best |
| Volatility (annualized) | 8.5%Best | 15.3% |
| Max Drawdown | -40.0%Best | -56.5% |
| $10,000 over 5 years | $9,558 | $18,205Best |
| Fund Family | Nuveen | State Street Investment Management |
| Category | Tax Preferred | Equity |
| Style | Municipal New York | Large Cap Blend |
| Inception | Oct 7, 1987 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jan 2, 1996 to Sep 10, 2026 (30.7 years).
NNY 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.
NNY vs SPY Performance
Nuveen New York Municipal Value Fund Inc. (NNY) 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 NNY returned +0.69% while SPY returned +17.48%. Year to date, NNY is down 4.55% versus a gain of 11.52% for SPY.
Over three years, NNY compounded at +3.03% per year against +20.62% for SPY; over five years the annualized figures are -0.90% and +12.73% respectively. Across the full 31-year window we track, SPY has the edge at +8.75% annualized vs -0.38%.
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 what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.19. They move largely independently of each other.
Holdings Overlap
We hold position weights for 73 holdings in NNY and 504 in SPY, totalling 56.4% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 73 positions we hold weights for in NNY and 504 in SPY, against full books of 134 and 505.
You are not choosing between two funds in isolation.
Whichever of NNY 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 performed better, NNY or SPY?
Over the past year NNY returned +0.69% vs +17.48% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (31 years), NNY annualized -0.38% vs +8.75% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
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 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, NNY or SPY?
NNY yields 4.08% while SPY yields 0.98%, so NNY currently pays the higher dividend yield.
Is SPY better than NNY?
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.