NUMV vs SPY
Nuveen ESG Mid-Cap Value ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, NUMV or SPY?
Mid Cap Value against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. NUMV is less concentrated, with 20.9% of the fund in its ten largest positions against 37.8%.
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 | NUMV | SPY |
|---|---|---|
| Expense Ratio | 0.31% | 0.09%Best |
| AUM | $446M | $804.7B |
| Dividend Yield | 1.34% | 0.98% |
| Holdings | 95 | 505 |
| YTD Return | +8.87% | +12.89%Best |
| 1Y Return | +13.93% | +17.01%Best |
| 3Y Return (annualized) | +16.51% | +22.46%Best |
| 5Y Return (annualized) | +6.68% | +13.01%Best |
| Volatility (annualized) | 18.4% | 15.6%Best |
| Max Drawdown | -44.0% | -34.1%Best |
| $10,000 over 5 years | $13,817 | $18,433Best |
| Top 10 Weight | 20.9%Best | 37.8% |
| Fund Family | Nuveen | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Value | Large Cap Blend |
| Inception | Dec 13, 2016 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Dec 14, 2016 to Sep 24, 2026 (9.8 years).
NUMV 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 covers the 9.8 years both funds cover.
NUMV vs SPY Performance
Nuveen ESG Mid-Cap Value ETF (NUMV) 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 NUMV returned +13.93% while SPY returned +17.01%. Year to date, NUMV is up 8.87% versus a gain of 12.89% for SPY.
Over three years, NUMV compounded at +16.51% per year against +22.46% for SPY; over five years the annualized figures are +6.68% and +13.01% respectively. Across the full 10-year window we track, SPY has the edge at +14.18% annualized vs +8.54%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NUMV has been the more volatile fund, with annualized monthly volatility of 18.4% compared with 15.6% 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 -44.0% for NUMV and -34.1% 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 0.88. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
NUMV charges 0.31% per year while SPY charges 0.09%. On a $10,000 position that is $31 vs $9 annually, a gap of $22 per year that compounds over a long holding period. On income, NUMV currently yields 1.34% against 0.98% for SPY.
Holdings Overlap
95.8% of NUMV's money is in holdings SPY also owns. 3.8% of SPY's money is in holdings NUMV also owns.
Most of NUMV is already inside SPY. Owning both mostly buys the same companies twice.
82 positions in common, counted across the 88 positions we hold weights for in NUMV and 504 in SPY, against full books of 95 and 505.
What only one of them owns
Our book lists 417 positions for SPY that do not appear in our book for NUMV (95.6% of the fund), and 6 for NUMV that do not appear in SPY (4.0%).
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 NUMV | Weight in SPY | Difference |
|---|---|---|---|
| CAHCardinal Health Inc. | 2.34% | 0.09% | 2.25% |
| STTState Street Corp. | 2.22% | 0.08% | 2.14% |
| URIUnited Rentals Inc. | 2.19% | 0.09% | 2.10% |
| BKRBaker Hughes Co | 2.15% | 0.10% | 2.05% |
| EQRVivmark Residential | 2.10% | 0.07% | 2.03% |
| ADMArcher-Daniels-Midland Co. | 2.06% | 0.06% | 2.00% |
| HPEHewlett Packard Enterprise Co | 1.96% | 0.10% | 1.86% |
| PRUPrudential Financial Inc | 1.97% | 0.06% | 1.91% |
| EDConsolidated Edison Inc | 1.96% | 0.06% | 1.90% |
| SYYSysco Corp | 1.94% | 0.06% | 1.88% |
95.8% of NUMV 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, NUMV or SPY?
NUMV has an expense ratio of 0.31% while SPY charges 0.09%. SPY is the cheaper option, by $22 a year on a $10,000 investment.
Which performed better, NUMV or SPY?
Over the past year NUMV returned +13.93% vs +17.01% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (10 years), NUMV annualized +8.54% vs +14.18% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, NUMV or SPY?
NUMV has been the more volatile fund at 18.4% annualized versus 15.6% for SPY. Worst drawdown: NUMV -44.0% vs SPY -34.1%.
Should I hold both NUMV and SPY?
NUMV and SPY have a monthly-return correlation of 0.88, 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 NUMV and SPY?
95.8% of NUMV's money is in holdings SPY also owns. 3.8% of SPY's is in holdings NUMV also owns. They hold 82 positions in common, counted across the 88 positions we hold weights for in NUMV and 504 in SPY.
Which pays a higher dividend, NUMV or SPY?
NUMV yields 1.34% while SPY yields 0.98%, so NUMV currently pays the higher dividend yield.
Is SPY better than NUMV?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. NUMV is less concentrated, with 20.9% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.