NELIX vs. IVV
NELIX (Nuveen Equity Long/Short Fund) and IVV (iShares Core S&P 500 ETF) are both funds - NELIX is a Long-Short fund managed by Nuveen, while IVV is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, NELIX returned 10.90%/yr vs 15.75%/yr for IVV. Their correlation of 0.88 suggests significant overlap in exposure. NELIX charges 1.35%/yr vs 0.03%/yr for IVV.
Performance
NELIX vs. IVV - Performance Comparison
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Returns By Period
In the year-to-date period, NELIX achieves a 8.44% return, which is significantly lower than IVV's 9.76% return. Over the past 10 years, NELIX has underperformed IVV with an annualized return of 10.90%, while IVV has yielded a comparatively higher 15.75% annualized return.
NELIX
- 1D
- 0.83%
- 1M
- 1.03%
- YTD
- 8.44%
- 6M
- 8.00%
- 1Y
- 19.72%
- 3Y*
- 17.89%
- 5Y*
- 11.42%
- 10Y*
- 10.90%
IVV
- 1D
- -0.31%
- 1M
- 0.09%
- YTD
- 9.76%
- 6M
- 9.30%
- 1Y
- 26.83%
- 3Y*
- 21.37%
- 5Y*
- 13.58%
- 10Y*
- 15.75%
NELIX vs. IVV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NELIX Nuveen Equity Long/Short Fund | 8.44% | 11.31% | 20.55% | 24.09% | -14.94% | 32.92% | -0.79% | 6.35% | -2.36% | 19.32% |
IVV iShares Core S&P 500 ETF | 9.76% | 17.85% | 24.93% | 26.31% | -18.16% | 28.76% | 18.40% | 31.07% | -4.49% | 21.75% |
Correlation
The correlation between NELIX and IVV is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2013 | 0.88 |
The correlation between NELIX and IVV has been stable across timeframes, ranging from 0.88 to 0.95 - a consistent structural relationship.
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Return for Risk
NELIX vs. IVV — Risk / Return Rank
NELIX
IVV
NELIX vs. IVV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Equity Long/Short Fund (NELIX) and iShares Core S&P 500 ETF (IVV). 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.
| NELIX | IVV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.39 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.11 | 3.03 | +0.07 |
| Martin ratioReturn relative to average drawdown | 12.18 | 13.61 | -1.43 |
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Drawdowns
NELIX vs. IVV - Drawdown Comparison
The maximum NELIX drawdown since its inception was -28.72%, smaller than the maximum IVV drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for NELIX and IVV.
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Drawdown Indicators
| NELIX | IVV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.72% | -55.25% | +26.53% |
Max Drawdown (1Y)Largest decline over 1 year | -6.31% | -8.89% | +2.58% |
Max Drawdown (3Y)Largest decline over 3 years | -15.50% | -18.75% | +3.25% |
Max Drawdown (5Y)Largest decline over 5 years | -19.30% | -24.53% | +5.23% |
Max Drawdown (10Y)Largest decline over 10 years | -28.72% | -33.90% | +5.18% |
Current DrawdownCurrent decline from peak | 0.00% | -1.74% | +1.74% |
Average DrawdownAverage peak-to-trough decline | -4.68% | -10.76% | +6.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.60% | 1.98% | -0.38% |
Volatility
NELIX vs. IVV - Volatility Comparison
The current volatility for Nuveen Equity Long/Short Fund (NELIX) is 3.69%, while iShares Core S&P 500 ETF (IVV) has a volatility of 4.67%. This indicates that NELIX experiences smaller price fluctuations and is considered to be less risky than IVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NELIX | IVV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.69% | 4.67% | -0.98% |
Volatility (6M)Calculated over the trailing 6-month period | 7.95% | 9.75% | -1.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.00% | 12.41% | -2.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.73% | 16.97% | -4.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.70% | 18.10% | -4.40% |
NELIX vs. IVV - Expense Ratio Comparison
NELIX has a 1.35% expense ratio, which is higher than IVV's 0.03% expense ratio.
Dividends
NELIX vs. IVV - Dividend Comparison
NELIX's dividend yield for the trailing twelve months is around 3.51%, more than IVV's 1.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IVV iShares Core S&P 500 ETF | 1.09% | 1.17% | 1.30% | 1.44% | 1.66% | 1.20% | 1.57% | 1.85% | 2.21% | 1.75% | 2.01% | 2.27% |
NELIX Nuveen Equity Long/Short Fund | 3.51% | 3.81% | 4.78% | 4.20% | 6.84% | 2.44% | 0.00% | 0.00% | 1.35% | 1.58% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.93, NELIX and IVV move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
IVV has higher volatility (4.67%) compared to NELIX (3.69%). In terms of maximum drawdown, NELIX dropped -28.72% vs IVV's -55.25%.
IVV currently has the higher Sharpe Ratio (2.18 vs 1.96), 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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