NPFI vs SPY
Nuveen Preferred and Income ETF 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 503 holdings.
Side-by-Side Comparison
| Metric | NPFI | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.56% | 0.09% | |
| AUM | $171M | $789.1B | |
| Dividend Yield | 6.38% | 1.01% | |
| Holdings | 154 | 505 | |
| YTD Return | +1.63% | +13.39% | |
| 1Y Return | +5.03% | +22.52% | |
| 3Y Return (annualized) | - | +21.36% | |
| 5Y Return (annualized) | - | +13.19% | |
| Volatility (annualized) | 3.3% | 15.3% | |
| Max Drawdown | -3.2% | -56.5% | |
| Fund Family | Nuveen | State Street Investment Management | |
| Category | Allocation/Balanced | Equity | |
| Inception | Mar 5, 2024 | Jan 22, 1993 |
NPFI vs SPY Performance
Nuveen Preferred and Income ETF (NPFI) 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 NPFI returned +5.03% while SPY returned +22.52%. Year to date, NPFI is up 1.63% versus a gain of 13.39% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 3.3% for NPFI. 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 -3.2% for NPFI 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 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
NPFI charges 0.56% per year while SPY charges 0.09%. On a $10,000 position that is $56 vs $9 annually, a gap of $47 per year that compounds over a long holding period. On income, NPFI currently yields 6.38% against 1.01% for SPY.
Holdings Overlap
Frequently Asked Questions
Which is cheaper, NPFI or SPY?
NPFI has an expense ratio of 0.56% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $47 per year of difference.
Which performed better, NPFI or SPY?
Over the past year NPFI returned +5.03% vs +22.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), NPFI annualized +7.48% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, NPFI or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 3.3% for NPFI. Worst drawdown: NPFI -3.2% vs SPY -56.5%.
Should I hold both NPFI and SPY?
NPFI and SPY have a monthly-return correlation of 0.77, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NPFI and SPY?
NPFI and SPY share 2 common holdings with a 0.4% weight overlap. Combined, they hold 619 unique securities.
Which pays a higher dividend, NPFI or SPY?
NPFI yields 6.38% while SPY yields 1.01%, so NPFI currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.