NWLG vs SPY
Nuveen Winslow Large-Cap Growth ESG 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 505 holdings.
Side-by-Side Comparison
| Metric | NWLG | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.65% | 0.09% | |
| AUM | $9M | $821.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 42 | 505 | |
| YTD Return | -22.39% | +12.68% | |
| 1Y Return | +7.45% | +21.82% | |
| 3Y Return (annualized) | +13.26% | +21.98% | |
| 5Y Return (annualized) | - | +12.89% | |
| Volatility (annualized) | 21.3% | 15.3% | |
| Max Drawdown | -39.9% | -56.5% | |
| Fund Family | Nuveen | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Aug 4, 2021 | Jan 22, 1993 |
NWLG vs SPY Performance
Nuveen Winslow Large-Cap Growth ESG ETF (NWLG) 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 NWLG returned +7.45% while SPY returned +21.82%. Year to date, NWLG is down 22.39% versus a gain of 12.68% for SPY.
Over three years, NWLG compounded at +13.26% per year against +21.98% for SPY. Across the full 5-year window we track, SPY has the edge at +8.81% annualized vs +3.38%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NWLG has been the more volatile fund, with annualized monthly volatility of 21.3% 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 -39.9% for NWLG 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 0.78. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
NWLG charges 0.65% per year while SPY charges 0.09%. On a $10,000 position that is $65 vs $9 annually, a gap of $56 per year that compounds over a long holding period. On income, NWLG currently yields 0.00% against 1.01% for SPY.
Holdings Overlap
NWLG and SPY share 35 holdings out of 508 unique holdings combined, representing a 41.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, NWLG or SPY?
NWLG has an expense ratio of 0.65% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $56 per year of difference.
Which performed better, NWLG or SPY?
Over the past year NWLG returned +7.45% vs +21.82% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (5 years), NWLG annualized +3.38% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, NWLG or SPY?
NWLG has been the more volatile fund at 21.3% annualized versus 15.3% for SPY. Worst drawdown: NWLG -39.9% vs SPY -56.5%.
Should I hold both NWLG and SPY?
NWLG and SPY have a monthly-return correlation of 0.78, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NWLG and SPY?
NWLG and SPY share 35 common holdings with a 41.2% weight overlap. Combined, they hold 508 unique securities.
Which pays a higher dividend, NWLG or SPY?
NWLG yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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