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Nuveen S&P 500 Dynamic Overwrite Fund (SPXX) Sharpe Ratio: 1.08

Mutual Fund · Currency in USD · Last updated Jun 24, 2026

The Fund aims to provide regular distributions and attractive total returns with lower volatility than the S&P 500 Index by investing in a U.S. equity portfolio that replicates the Index's price movements and selling call options on a portion of the portfolio to enhance risk-adjusted returns.

SPXX's Sharpe Ratio of 1.08 indicates that for each unit of volatility, it generates 1.08 units of excess return above the risk-free rate. The ratio is calculated using historical daily returns over the past 12 months (as of Jun 24, 2026).

Sharpe uses total volatility (standard deviation) which includes both upside and downside price movements, making it useful for comparing risk-adjusted returns across different assets. For how to read this number and when it can mislead, see Sharpe Ratio Explained.

SPXX Sharpe Ratio Rank

SPXX Sharpe Ratio Rank: 16.516
Concerning

SPXX ranks above 16.5% of all investments in our database based on Sharpe Ratio over the past 12 months, indicating weak returns relative to total risk taken. Securities are ranked from 0 (worst) to 100 (best).

What moves the rank

  • Strong returns with low total volatility → Higher rank
  • High volatility (both upside and downside) → Lower rank
  • Consistent returns → Higher rank than volatile returns of same magnitude
  • Sharp drawdowns increase volatility → Lower rank

What you can do with this information

  • Weak risk-adjusted returns relative to category peers
  • Evaluate whether this holding aligns with your risk-return objectives
  • Consider reducing exposure or re-evaluating position size
  • Review higher-ranked alternatives in the same category

SPXX Sharpe Ratio Market Positioning

The chart shows SPXX's Sharpe Ratio relative to all mutual funds on our platform, with color zones indicating percentile rankings. Higher ratios indicate better risk-adjusted returns.

  • Red zone (bottom 25%): 1.30 or lower
  • Yellow zone (middle 50%): 1.30 to 2.32
  • Green zone (top 25%): 2.32 or higher
  • Top 1%: 4.27+
  • Median: 1.93 — half of all investments score higher

How it compares to other similar mutual funds

The table compares Nuveen S&P 500 Dynamic Overwrite Fund's Sharpe Ratio with other mutual funds in the S&P 500 category across multiple time periods, showing how SPXX's risk-adjusted performance compares to similar funds.

Data shows 1-, 5-, and 10-year periods, plus each fund's all-time average, as of Jun 24, 2026.

SymbolName1Y Sharpe Ratio5Y Sharpe Ratio10Y Sharpe RatioAll Time Sharpe Ratio
SPINXSEI Institutional Investments Trust S&P 500 Index Fund2.16
VIIIXVanguard Institutional Index Fund Institutional Plus Shares2.15
FXAIXFidelity 500 Index Fund2.15
INDEXCYBER HORNET S&P 5002.15
SSSYXState Street Equity 500 Index Fund Class K2.15
VINIXVanguard Institutional Index Fund Institutional Shares2.15
BSPGXiShares S&P 500 Index Fund Class G2.15
VFIAXVanguard 500 Index Fund Admiral Shares2.15
WFSPXiShares S&P 500 Index Fund Class K2.15
PLFIXPrincipal Large Cap S&P 500 Index Fund Institutional2.15
SPXXNuveen S&P 500 Dynamic Overwrite Fund1.08

S&P 500 Index

How to choose period

Historical Sharpe Ratio

The chart shows SPXX's rolling Sharpe ratio over time compared to your chosen benchmark. Rising trends indicate improving returns relative to total volatility, while declining trends may signal deteriorating risk-adjusted performance or increased volatility. Use multiple timeframes to distinguish short-term fluctuations from long-term patterns.

Identify market cycles by observing when SPXX consistently outperforms (line above benchmark), underperforms (below benchmark), or aligns with the benchmark.

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Sharpe Ratio Calculator

How does SPXX fit in your portfolio?

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