SPXX vs VOO
Nuveen S&P 500 Dynamic Overwrite Fund vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 509 holdings.
Side-by-Side Comparison
| Metric | SPXX | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.91% | 0.03% | |
| AUM | - | $997.4B | |
| Dividend Yield | 6.99% | 1.08% | |
| Holdings | 344 | 509 | |
| YTD Return | +10.56% | +12.68% | |
| 1Y Return | +16.03% | +21.87% | |
| 3Y Return (annualized) | +16.58% | +22.06% | |
| 5Y Return (annualized) | +8.62% | +12.95% | |
| Volatility (annualized) | 15.9% | 14.1% | |
| Max Drawdown | -60.0% | -34.3% | |
| Fund Family | Nuveen | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Nov 22, 2005 | Sep 7, 2010 |
SPXX vs VOO Performance
Nuveen S&P 500 Dynamic Overwrite Fund (SPXX) is a ETF from Nuveen and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year SPXX returned +16.03% while VOO returned +21.87%. Year to date, SPXX is up 10.56% versus a gain of 12.68% for VOO.
Over three years, SPXX compounded at +16.58% per year against +22.06% for VOO; over five years the annualized figures are +8.62% and +12.95% respectively. Across the full 16-year window we track, VOO has the edge at +13.47% annualized vs +1.71%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPXX has been the more volatile fund, with annualized monthly volatility of 15.9% compared with 14.1% for VOO. 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 -60.0% for SPXX and -34.3% for VOO. 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 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPXX charges 0.91% per year while VOO charges 0.03%. On a $10,000 position that is $91 vs $3 annually, a gap of $88 per year that compounds over a long holding period. On income, SPXX currently yields 6.99% against 1.08% for VOO.
Holdings Overlap
SPXX and VOO share 87 holdings out of 733 unique holdings combined, representing a 60.9% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, SPXX or VOO?
SPXX has an expense ratio of 0.91% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $88 per year of difference.
Which performed better, SPXX or VOO?
Over the past year SPXX returned +16.03% vs +21.87% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), SPXX annualized +1.71% vs +13.47% for VOO. Past performance does not guarantee future results.
Which is riskier, SPXX or VOO?
SPXX has been the more volatile fund at 15.9% annualized versus 14.1% for VOO. Worst drawdown: SPXX -60.0% vs VOO -34.3%.
Should I hold both SPXX and VOO?
SPXX and VOO have a monthly-return correlation of 0.83, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPXX and VOO?
SPXX and VOO share 87 common holdings with a 60.9% weight overlap. Combined, they hold 733 unique securities.
Which pays a higher dividend, SPXX or VOO?
SPXX yields 6.99% while VOO yields 1.08%, so SPXX currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.