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JGH vs. SPYI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

JGH vs. SPYI

Last updated Jun 23, 2026

JGH (Nuveen Global High Income Fund) and SPYI (NEOS S&P 500 High Income ETF) are both funds - JGH is a High Yield Bonds fund managed by Nuveen, while SPYI is a Derivative Income fund actively managed by Neos. Over the past 3 years, JGH returned 15.87%/yr vs 15.66%/yr for SPYI. At a 0.44 correlation, their price movements are largely independent. JGH charges 1.68%/yr vs 0.68%/yr for SPYI.

Performance

JGH vs. SPYI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Global High Income Fund (JGH) and NEOS S&P 500 High Income ETF (SPYI). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, JGH achieves a 5.00% return, which is significantly lower than SPYI's 6.95% return.

JGH

1D
-1.02%
1M
0.65%
YTD
5.00%
6M
6.26%
1Y
10.65%
3Y*
15.87%
5Y*
5.63%
10Y*
8.26%

SPYI

1D
-0.30%
1M
0.07%
YTD
6.95%
6M
6.74%
1Y
21.49%
3Y*
15.66%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

JGH vs. SPYI - Yearly Performance Comparison

2026 (YTD)2025202420232022
JGH
Nuveen Global High Income Fund		5.00%8.62%15.98%20.89%-5.51%
SPYI
NEOS S&P 500 High Income ETF		6.95%16.67%19.03%18.09%-3.96%

Correlation

The correlation between JGH and SPYI is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.38

Correlation (3Y)
Calculated over the trailing 3-year period

0.37

Correlation (All Time)
Calculated using the full available price history since Aug 30, 2022

0.44

Compare stocks, funds, or ETFs

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Nuveen Global High Income Fund

NEOS S&P 500 High Income ETF

Often compared with JGH:
JGH vs. VOOJGH vs. AGGJGH vs. OXLCJGH vs. QYLDJGH vs. PDTJGH vs. PDIJGH vs. VOOG
Often compared with SPYI:
SPYI vs. QQQISPYI vs. SPYSPYI vs. JEPISPYI vs. JEPQSPYI vs. GPIXSPYI vs. SCHDSPYI vs. VOO

Return for Risk

JGH vs. SPYI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
JGH
JGH Risk / Return Rank: 1515
Overall Rank
JGH Sharpe Ratio Rank: 1515
Sharpe Ratio Rank
JGH Sortino Ratio Rank: 1414
Sortino Ratio Rank
JGH Omega Ratio Rank: 1919
Omega Ratio Rank
JGH Calmar Ratio Rank: 1515
Calmar Ratio Rank
JGH Martin Ratio Rank: 1111
Martin Ratio Rank
SPYI
SPYI Risk / Return Rank: 6868
Overall Rank
SPYI Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
SPYI Sortino Ratio Rank: 6464
Sortino Ratio Rank
SPYI Omega Ratio Rank: 7373
Omega Ratio Rank
SPYI Calmar Ratio Rank: 5858
Calmar Ratio Rank
SPYI Martin Ratio Rank: 7676
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JGH vs. SPYI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Global High Income Fund (JGH) and NEOS S&P 500 High Income ETF (SPYI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

JGHSPYIDifference
Sharpe ratioReturn per unit of total volatility
1.04
2.11

-1.07

Sortino ratioReturn per unit of downside risk
1.46
2.86

-1.40

Omega ratioGain probability vs. loss probability

1.21

1.41

-0.20

Calmar ratioReturn relative to maximum drawdown

1.28

2.80

-1.52

Martin ratioReturn relative to average drawdown

3.10

14.03

-10.92

JGH vs. SPYI - Sharpe Ratio Comparison

The current JGH Sharpe Ratio is 1.04, which is lower than the SPYI Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of JGH and SPYI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

JGH vs. SPYI - Drawdown Comparison

The maximum JGH drawdown since its inception was -43.79%, which is greater than SPYI's maximum drawdown of -16.47%. Use the drawdown chart below to compare losses from any high point for JGH and SPYI.

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Drawdown Indicators

JGHSPYIDifference

Max Drawdown

Largest peak-to-trough decline

-43.79%

-16.47%

-27.32%

Max Drawdown (1Y)

Largest decline over 1 year

-8.37%

-7.72%

-0.65%

Max Drawdown (3Y)

Largest decline over 3 years

-13.70%

-16.47%

+2.77%

Max Drawdown (5Y)

Largest decline over 5 years

-28.66%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-43.79%

—

—

Current Drawdown

Current decline from peak

-2.17%

-1.21%

-0.96%

Average Drawdown

Average peak-to-trough decline

-6.97%

-1.81%

-5.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.44%

1.54%

+1.90%

Volatility

JGH vs. SPYI - Volatility Comparison

The current volatility for Nuveen Global High Income Fund (JGH) is 2.30%, while NEOS S&P 500 High Income ETF (SPYI) has a volatility of 4.06%. This indicates that JGH experiences smaller price fluctuations and is considered to be less risky than SPYI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

JGHSPYIDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.30%

4.06%

-1.76%

Volatility (6M)

Calculated over the trailing 6-month period

7.35%

8.23%

-0.88%

Volatility (1Y)

Calculated over the trailing 1-year period

10.35%

10.27%

+0.08%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.81%

13.01%

+0.80%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.88%

13.01%

+2.87%

JGH vs. SPYI - Expense Ratio Comparison

JGH has a 1.68% expense ratio, which is higher than SPYI's 0.68% expense ratio.

Dividends

JGH vs. SPYI - Dividend Comparison

JGH's dividend yield for the trailing twelve months is around 9.84%, less than SPYI's 12.85% yield.

PositionTTM20252024202320222021202020192018201720162015
JGH
Nuveen Global High Income Fund		9.84%9.82%9.67%10.18%12.05%8.19%7.13%7.53%9.88%8.52%9.61%11.44%
SPYI
NEOS S&P 500 High Income ETF		12.85%11.70%12.04%12.01%4.10%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

JGH and SPYI have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SPYI has higher volatility (4.06%) compared to JGH (2.30%). In terms of maximum drawdown, JGH dropped -43.79% vs SPYI's -16.47%.

SPYI currently has the higher Sharpe Ratio (2.11 vs 1.03), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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