NXG vs SPY
NXG NextGen Infrastructure Income Fund vs State Street SPDR S&P 500 ETF Trust
Which is better, NXG or SPY?
Mid Cap Value against Large Cap Blend.
SPY has a lower expense ratio. NXG led over 1Y, 3Y and 5Y, SPY over the full window.
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 | NXG | SPY |
|---|---|---|
| Expense Ratio | 3.15% | 0.09%Best |
| AUM | $440M | $804.7B |
| Dividend Yield | 12.19% | 0.98% |
| Holdings | 76 | 505 |
| YTD Return | +18.08%Best | +11.45% |
| 1Y Return | +28.53%Best | +15.87% |
| 3Y Return (annualized) | +28.59%Best | +20.93% |
| 5Y Return (annualized) | +15.48%Best | +12.59% |
| Volatility (annualized) | 29.2% | 14.2%Best |
| Max Drawdown | -86.5% | -34.1%Best |
| $10,000 over 5 years | $20,537Best | $18,093 |
| Fund Family | The Cushing Funds | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Value | Large Cap Blend |
| Inception | Sep 26, 2012 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Sep 26, 2012 to Sep 15, 2026 (14 years).
NXG 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 14 years both funds cover.
NXG vs SPY Performance
NXG NextGen Infrastructure Income Fund (NXG) is an ETF from The Cushing Funds and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year NXG returned +28.53% while SPY returned +15.87%. Year to date, NXG is up 18.08% versus a gain of 11.45% for SPY.
Over three years, NXG compounded at +28.59% per year against +20.93% for SPY; over five years the annualized figures are +15.48% and +12.59% respectively. Across the full 14-year window we track, SPY has the edge at +13.26% annualized vs +0.09%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NXG has been the more volatile fund, with annualized monthly volatility of 29.2% compared with 14.2% 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 -86.5% for NXG 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 0.68. They move together some of the time, and apart the rest.
Fees and Cost Over Time
NXG charges 3.15% per year while SPY charges 0.09%. On a $10,000 position that is $315 vs $9 annually, a gap of $306 per year that compounds over a long holding period. On income, NXG currently yields 12.19% against 0.98% for SPY.
Holdings Overlap
At least 3.0% of SPY's money is in holdings NXG also owns.
Only one direction is shown: for NXG, our book for it lists positions totalling 139.2% of the fund, which is what a leveraged book looks like and is not a denominator we can divide by.
SPY and NXG share little of their money.
The two holdings books were reported 93 days apart, NXG as of May 31, 2026 and SPY as of Sep 1, 2026, so some of the difference between them is the time between the two reports rather than the funds.
20 positions in common, counted across the 53 positions we hold weights for in NXG and 504 in SPY, against full books of 76 and 505.
Top Shared Holdings
| Stock | Weight in NXG | Weight in SPY | Difference |
|---|---|---|---|
| NRGNrg Energy | 6.39% | 0.04% | 6.35% |
| VSTVistra Energy Corp. | 5.52% | 0.07% | 5.45% |
| PANWPalo Alto Networks, Inc | 4.85% | 0.45% | 4.40% |
| PWRQuanta Services Inc | 5.09% | 0.14% | 4.95% |
| CRWDCrowdstrike Holdings Inc | 4.75% | 0.33% | 4.42% |
| CEGConstellation Energy Corporation Com | 4.92% | 0.14% | 4.78% |
| TRGPTarga Resources Corp Preferred | 3.98% | 0.10% | 3.88% |
| OKEOneok Inc. | 3.26% | 0.09% | 3.17% |
| ETREntergy Corp. | 2.95% | 0.07% | 2.88% |
| SOSouthern Co. | 1.97% | 0.15% | 1.82% |
You are not choosing between two funds in isolation.
Whichever of NXG and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, NXG or SPY?
NXG has an expense ratio of 3.15% while SPY charges 0.09%. SPY is the cheaper option, by $306 a year on a $10,000 investment.
Which performed better, NXG or SPY?
Over the past year NXG returned +28.53% vs +15.87% for SPY, so NXG leads on 1-year performance. Over the longest common window we track (14 years), NXG annualized +0.09% vs +13.26% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, NXG or SPY?
NXG has been the more volatile fund at 29.2% annualized versus 14.2% for SPY. Worst drawdown: NXG -86.5% vs SPY -34.1%.
Should I hold both NXG and SPY?
NXG and SPY have a monthly-return correlation of 0.68, 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 NXG and SPY?
At least 3.0% of SPY's money is in holdings NXG also owns. Our book for NXG is partial, so the real figure is this or higher. They hold 20 positions in common, counted across the 53 positions we hold weights for in NXG and 504 in SPY.
Which pays a higher dividend, NXG or SPY?
NXG yields 12.19% while SPY yields 0.98%, so NXG currently pays the higher dividend yield.
Is SPY better than NXG?
SPY has a lower expense ratio. NXG led over 1Y, 3Y and 5Y, SPY over the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.