NSCR vs SPY
Nuveen Sustainable Core ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, NSCR or SPY?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 1Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 41.6%.
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 | NSCR | SPY |
|---|---|---|
| Expense Ratio | 0.45% | 0.09%Best |
| AUM | $6M | $804.7B |
| Dividend Yield | 2.07% | 0.98% |
| Holdings | 56 | 505 |
| Volatility (annualized) | 14.6% | 11.0%Best |
| Max Drawdown | -20.8% | -18.8%Best |
| $10,000 over 2.1 years | $10,682 | $13,311Best |
| Top 10 Weight | 41.6% | 38.0%Best |
| Fund Family | Nuveen | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Mar 5, 2024 | Jan 22, 1993 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 158 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. NSCR has data through Apr 6, 2026 and SPY through Sep 11, 2026.
Volatility and max drawdown, and the $10,000 over 2.1 years row, are measured over the window both funds cover: Mar 6, 2024 to Apr 6, 2026 (2.1 years).
Risk: Volatility and Drawdowns
NSCR has been the more volatile fund, with annualized monthly volatility of 14.6% compared with 11.0% 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 -20.8% for NSCR and -18.8% 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 0.41. They move together some of the time, and apart the rest.
Fees and Cost Over Time
NSCR charges 0.45% per year while SPY charges 0.09%. On a $10,000 position that is $45 vs $9 annually, a gap of $36 per year that compounds over a long holding period. On income, NSCR currently yields 2.07% against 0.98% for SPY.
Holdings Overlap
90.2% of NSCR's money is in holdings SPY also owns. 49.4% of SPY's money is in holdings NSCR also owns.
Most of NSCR is already inside SPY. Owning both mostly buys the same companies twice.
The two holdings books were reported 216 days apart, NSCR as of Dec 31, 2025 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.
52 positions in common, counted across the 58 positions we hold weights for in NSCR and 504 in SPY, against full books of 56 and 505.
What only one of them owns
Our book lists 443 positions for SPY that do not appear in our book for NSCR (50.2% of the fund), and 4 for NSCR that do not appear in SPY (4.4%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in NSCR | Weight in SPY | Difference |
|---|---|---|---|
| AAPLApple, Inc | 6.48% | 6.83% | 0.35% |
| NVDANvidia Corp. | 5.03% | 7.71% | 2.68% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 7.19% | 5.50% | 1.69% |
| AMZNAmazon.Com Inc | 4.29% | 4.08% | 0.21% |
| GOOGLAlphabet A Usd 0.001 | 3.28% | 3.33% | 0.05% |
| AVGOBroadcom Inc | 3.31% | 2.97% | 0.34% |
| LLYEli Lilly & Co. | 3.36% | 1.33% | 2.03% |
| METAMeta Platforms, Inc. | 2.60% | 1.94% | 0.66% |
| JNJJohnson & Johnson | 2.92% | 0.92% | 2.00% |
| MAMastercard Inc | 3.09% | 0.69% | 2.40% |
90.2% of NSCR is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, NSCR or SPY?
NSCR has an expense ratio of 0.45% while SPY charges 0.09%. SPY is the cheaper option, by $36 a year on a $10,000 investment.
Which is riskier, NSCR or SPY?
NSCR has been the more volatile fund at 14.6% annualized versus 11.0% for SPY. Worst drawdown: NSCR -20.8% vs SPY -18.8%.
Should I hold both NSCR and SPY?
NSCR and SPY have a monthly-return correlation of 0.41, 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 NSCR and SPY?
90.2% of NSCR's money is in holdings SPY also owns. 49.4% of SPY's is in holdings NSCR also owns. They hold 52 positions in common, counted across the 58 positions we hold weights for in NSCR and 504 in SPY.
Which pays a higher dividend, NSCR or SPY?
NSCR yields 2.07% while SPY yields 0.98%, so NSCR currently pays the higher dividend yield.
Is SPY better than NSCR?
SPY has a lower expense ratio. SPY led over 1Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 41.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.