SPXX vs VXUS
Nuveen S&P 500 Dynamic Overwrite Fund vs Vanguard Total International Stock ETF
Which is better, SPXX or VXUS?
Multi Alternative against Large Cap Blend.
VXUS has a lower expense ratio. SPXX led over the full window, VXUS over 1Y, 3Y and 5Y.
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 | SPXX | VXUS |
|---|---|---|
| Expense Ratio | 0.91% | 0.05%Best |
| AUM | - | $158.1B |
| Dividend Yield | 6.85% | 2.51% |
| Holdings | 344 | 8,747 |
| YTD Return | +8.88% | +13.35%Best |
| 1Y Return | +11.58% | +22.44%Best |
| 3Y Return (annualized) | +15.94% | +19.44%Best |
| 5Y Return (annualized) | +8.47% | +8.82%Best |
| Volatility (annualized) | 15.2% | 15.0%Best |
| Max Drawdown | -51.1% | -39.9%Best |
| $10,000 over 5 years | $15,016 | $15,260Best |
| Fund Family | Nuveen | Vanguard (US) |
| Category | Alternative | Equity |
| Style | Multi Alternative | Large Cap Blend |
| Inception | Nov 22, 2005 | Jan 26, 2011 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jan 28, 2011 to Sep 10, 2026 (15.6 years).
SPXX vs VXUS 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 15.6 years both funds cover.
SPXX vs VXUS Performance
Nuveen S&P 500 Dynamic Overwrite Fund (SPXX) is an ETF from Nuveen and Vanguard Total International Stock ETF (VXUS) is an ETF from Vanguard (US). Over the past year SPXX returned +11.58% while VXUS returned +22.44%. Year to date, SPXX is up 8.88% versus a gain of 13.35% for VXUS.
Over three years, SPXX compounded at +15.94% per year against +19.44% for VXUS; over five years the annualized figures are +8.47% and +8.82% respectively. Across the full 16-year window we track, SPXX has the edge at +4.85% annualized vs +4.76%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPXX has been the more volatile fund, with annualized monthly volatility of 15.2% compared with 15.0% for VXUS. 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 -51.1% for SPXX and -39.9% for VXUS. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.70. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPXX charges 0.91% per year while VXUS charges 0.05%. On a $10,000 position that is $91 vs $5 annually, a gap of $86 per year that compounds over a long holding period. On income, SPXX currently yields 6.85% against 2.51% for VXUS.
Holdings Overlap
At least 1.3% of SPXX's money is in holdings VXUS also owns.
Stated as a floor: for VXUS, our book for it covers 87.7% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
SPXX and VXUS share little of their money.
The two holdings books were reported 91 days apart, SPXX as of Mar 31, 2026 and VXUS as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
25 positions in common, counted across the 469 positions we hold weights for in SPXX and 8,091 in VXUS, against full books of 344 and 8,747.
Top Shared Holdings
| Stock | Weight in SPXX | Weight in VXUS | Difference |
|---|---|---|---|
| ORCLOracle Corp. | 0.44% | 0.00% | 0.44% |
| BATS:LNBritish American Tobacco P.l.c | 0.06% | 0.28% | 0.22% |
| SHOP:CAShopify Inc. | 0.03% | 0.31% | 0.28% |
| BN:CABrookfield Corp | 0.13% | 0.20% | 0.07% |
| ENB:CAEnbridge Inc. | 0.01% | 0.26% | 0.25% |
| CP:CACANADIAN PACIFIC KANSAS CITY LTD COMMON STOCK CAD | 0.07% | 0.17% | 0.10% |
| WCN:CAWaste Connections Inc | 0.08% | 0.09% | 0.01% |
| TRP:CATc Energy Corp | 0.01% | 0.15% | 0.14% |
| CVE:CACenovus Energy, Inc. | 0.08% | 0.07% | 0.01% |
| NTR:CANutrien Ltd | 0.08% | 0.07% | 0.01% |
You are not choosing between two funds in isolation.
Whichever of SPXX and VXUS 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, SPXX or VXUS?
SPXX has an expense ratio of 0.91% while VXUS charges 0.05%. VXUS is the cheaper option, by $86 a year on a $10,000 investment.
Which performed better, SPXX or VXUS?
Over the past year SPXX returned +11.58% vs +22.44% for VXUS, so VXUS leads on 1-year performance. Over the longest common window we track (16 years), SPXX annualized +4.85% vs +4.76% for VXUS. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPXX or VXUS?
SPXX has been the more volatile fund at 15.2% annualized versus 15.0% for VXUS. Worst drawdown: SPXX -51.1% vs VXUS -39.9%.
Should I hold both SPXX and VXUS?
SPXX and VXUS have a monthly-return correlation of 0.70, 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 SPXX and VXUS?
At least 1.3% of SPXX's money is in holdings VXUS also owns. Our book for VXUS is partial, so the real figure is this or higher. They hold 25 positions in common, counted across the 469 positions we hold weights for in SPXX and 8,091 in VXUS.
Which pays a higher dividend, SPXX or VXUS?
SPXX yields 6.85% while VXUS yields 2.51%, so SPXX currently pays the higher dividend yield.
Is VXUS better than SPXX?
VXUS has a lower expense ratio. SPXX led over the full window, VXUS over 1Y, 3Y and 5Y. Which one suits a particular account depends on what it is for. This is information, not a recommendation.