NGJFX vs. SPXX

Last updated Jun 24, 2026

NGJFX (Nuveen Global Real Estate Securities Fund) and SPXX (Nuveen S&P 500 Dynamic Overwrite Fund) are both mutual funds - NGJFX is a REIT fund managed by Nuveen, while SPXX is a S&P 500 fund actively managed by Nuveen. Over the past 5 years, NGJFX returned 2.10%/yr vs 7.18%/yr for SPXX. A 0.52 correlation means they provide meaningful diversification when combined. NGJFX charges 0.95%/yr vs 0.89%/yr for SPXX.

Performance

NGJFX vs. SPXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Global Real Estate Securities Fund (NGJFX) and Nuveen S&P 500 Dynamic Overwrite Fund (SPXX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NGJFX achieves a 8.68% return, which is significantly higher than SPXX's 3.44% return.

NGJFX

• 1D: 0.68%
• 1M: -0.48%
• YTD: 8.68%
• 6M: 9.02%
• 1Y: 11.10%
• 3Y*: 10.62%
• 5Y*: 2.10%
• 10Y*: —

SPXX

• 1D: -1.05%
• 1M: 1.41%
• YTD: 3.44%
• 6M: 3.84%
• 1Y: 13.31%
• 3Y*: 13.85%
• 5Y*: 7.18%
• 10Y*: 10.31%

*Multi-year figures are annualized to reflect compound growth (CAGR)

NGJFX vs. SPXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
NGJFX Nuveen Global Real Estate Securities Fund	8.68%	9.60%	0.77%	11.63%	-24.79%	28.68%	-0.94%	32.18%	0.17%
SPXX Nuveen S&P 500 Dynamic Overwrite Fund	3.44%	9.78%	27.10%	0.85%	-6.92%	29.03%	-0.37%	25.36%	-16.95%

Correlation

The correlation between NGJFX and SPXX is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (All Time) Calculated using the full available price history since Mar 22, 2018	0.52

The correlation between NGJFX and SPXX shifts across timeframes, from 0.35 (1 year) to 0.52 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NGJFX vs. SPXX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NGJFX

NGJFX Risk / Return Rank: 16
NGJFX Sharpe Ratio Rank: 16
NGJFX Sortino Ratio Rank: 15
NGJFX Omega Ratio Rank: 15
NGJFX Calmar Ratio Rank: 14
NGJFX Martin Ratio Rank: 19

SPXX

SPXX Risk / Return Rank: 15
SPXX Sharpe Ratio Rank: 16
SPXX Sortino Ratio Rank: 16
SPXX Omega Ratio Rank: 15
SPXX Calmar Ratio Rank: 13
SPXX Martin Ratio Rank: 15

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.

NGJFX vs. SPXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Global Real Estate Securities Fund (NGJFX) and Nuveen S&P 500 Dynamic Overwrite Fund (SPXX). 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.

	NGJFX	SPXX	Difference
Sharpe ratio: Return per unit of total volatility	1.03	1.08	-0.04
Sortino ratio: Return per unit of downside risk	1.47	1.59	-0.12
Omega ratio: Gain probability vs. loss probability	1.19	1.19	0.00
Calmar ratio: Return relative to maximum drawdown	1.21	1.13	+0.09
Martin ratio: Return relative to average drawdown	4.45	3.83	+0.63

NGJFX vs. SPXX - Sharpe Ratio Comparison

The current NGJFX Sharpe Ratio is 1.03, which is comparable to the SPXX Sharpe Ratio of 1.08. The chart below compares the historical Sharpe Ratios of NGJFX and SPXX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NGJFX vs. SPXX - Drawdown Comparison

The maximum NGJFX drawdown since its inception was -40.37%, smaller than the maximum SPXX drawdown of -52.39%. Use the drawdown chart below to compare losses from any high point for NGJFX and SPXX.

Drawdown Indicators

	NGJFX	SPXX	Difference
Max Drawdown Largest peak-to-trough decline	-40.37%	-52.39%	+12.02%
Max Drawdown (1Y) Largest decline over 1 year	-10.34%	-11.86%	+1.52%
Max Drawdown (3Y) Largest decline over 3 years	-17.50%	-17.65%	+0.15%
Max Drawdown (5Y) Largest decline over 5 years	-32.80%	-18.09%	-14.71%
Max Drawdown (10Y) Largest decline over 10 years	—	-43.99%	—
Current Drawdown Current decline from peak	-2.09%	-1.43%	-0.66%
Average Drawdown Average peak-to-trough decline	-10.43%	-7.45%	-2.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.81%	3.49%	-0.68%

Volatility

NGJFX vs. SPXX - Volatility Comparison

The current volatility for Nuveen Global Real Estate Securities Fund (NGJFX) is 3.90%, while Nuveen S&P 500 Dynamic Overwrite Fund (SPXX) has a volatility of 4.41%. This indicates that NGJFX experiences smaller price fluctuations and is considered to be less risky than SPXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NGJFX	SPXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.90%	4.41%	-0.51%
Volatility (6M) Calculated over the trailing 6-month period	9.35%	9.55%	-0.20%
Volatility (1Y) Calculated over the trailing 1-year period	12.17%	12.45%	-0.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.99%	15.71%	+0.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.73%	18.43%	-0.70%

NGJFX vs. SPXX - Expense Ratio Comparison

NGJFX has a 0.95% expense ratio, which is higher than SPXX's 0.89% expense ratio.

Dividends

NGJFX vs. SPXX - Dividend Comparison

NGJFX's dividend yield for the trailing twelve months is around 3.14%, less than SPXX's 8.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NGJFX Nuveen Global Real Estate Securities Fund	3.14%	3.33%	3.39%	3.04%	5.83%	12.94%	3.27%	12.80%	3.90%	0.00%	0.00%	0.00%
SPXX Nuveen S&P 500 Dynamic Overwrite Fund	8.02%	7.48%	6.87%	7.82%	7.30%	5.27%	6.56%	6.44%	7.98%	5.69%	5.14%	7.75%

Frequently Asked Questions

Can I hold both NGJFX and SPXX in my portfolio?

NGJFX and SPXX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NGJFX or SPXX?

SPXX has higher volatility (4.41%) compared to NGJFX (3.90%). In terms of maximum drawdown, NGJFX dropped -40.37% vs SPXX's -52.39%.

Which has better risk-adjusted returns?

SPXX currently has the higher Sharpe Ratio (1.08 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.