NUEM vs SPY
Nuveen ESG Emerging Markets Equity ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. NUEM delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | NUEM | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.36% | 0.09% | |
| AUM | $367M | $789.1B | |
| Dividend Yield | 3.07% | 1.01% | |
| Holdings | 181 | 505 | |
| YTD Return | +13.60% | +13.39% | |
| 1Y Return | +26.29% | +22.52% | |
| 3Y Return (annualized) | +18.47% | +21.36% | |
| 5Y Return (annualized) | +5.75% | +13.19% | |
| Volatility (annualized) | 17.3% | 15.3% | |
| Max Drawdown | -39.5% | -56.5% | |
| Fund Family | Nuveen | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jun 6, 2017 | Jan 22, 1993 |
NUEM vs SPY Performance
Nuveen ESG Emerging Markets Equity ETF (NUEM) 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 NUEM returned +26.29% while SPY returned +22.52%. Year to date, NUEM is up 13.60% versus a gain of 13.39% for SPY.
Over three years, NUEM compounded at +18.47% per year against +21.36% for SPY; over five years the annualized figures are +5.75% and +13.19% respectively. Across the full 9-year window we track, SPY has the edge at +8.84% annualized vs +7.68%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NUEM has been the more volatile fund, with annualized monthly volatility of 17.3% compared with 15.3% 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 -39.5% for NUEM 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 0.69. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
NUEM charges 0.36% per year while SPY charges 0.09%. On a $10,000 position that is $36 vs $9 annually, a gap of $27 per year that compounds over a long holding period. On income, NUEM currently yields 3.07% against 1.01% for SPY.
Holdings Overlap
NUEM and SPY share 0 holdings out of 669 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, NUEM or SPY?
NUEM has an expense ratio of 0.36% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $27 per year of difference.
Which performed better, NUEM or SPY?
Over the past year NUEM returned +26.29% vs +22.52% for SPY, so NUEM leads on 1-year performance. Over the longest common window we track (9 years), NUEM annualized +7.68% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, NUEM or SPY?
NUEM has been the more volatile fund at 17.3% annualized versus 15.3% for SPY. Worst drawdown: NUEM -39.5% vs SPY -56.5%.
Should I hold both NUEM and SPY?
NUEM and SPY have a monthly-return correlation of 0.69, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NUEM and SPY?
NUEM and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 669 unique securities.
Which pays a higher dividend, NUEM or SPY?
NUEM yields 3.07% while SPY yields 1.01%, so NUEM currently pays the higher dividend yield.
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