NHI vs. SPY
Compare and contrast key facts about National Health Investors, Inc. (NHI) and State Street SPDR S&P 500 ETF (SPY).
SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
NHI vs. SPY - Performance Comparison
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NHI vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NHI National Health Investors, Inc. | 8.25% | 15.69% | 30.71% | 14.57% | -3.26% | -11.74% | -8.67% | 13.67% | 5.93% | 6.88% |
SPY State Street SPDR S&P 500 ETF | -3.65% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, NHI achieves a 8.25% return, which is significantly higher than SPY's -3.65% return. Over the past 10 years, NHI has underperformed SPY with an annualized return of 8.11%, while SPY has yielded a comparatively higher 14.06% annualized return.
NHI
- 1D
- 1.10%
- 1M
- -5.60%
- YTD
- 8.25%
- 6M
- 4.82%
- 1Y
- 15.45%
- 3Y*
- 23.09%
- 5Y*
- 7.83%
- 10Y*
- 8.11%
SPY
- 1D
- 0.75%
- 1M
- -4.28%
- YTD
- -3.65%
- 6M
- -1.42%
- 1Y
- 18.14%
- 3Y*
- 18.48%
- 5Y*
- 11.86%
- 10Y*
- 14.06%
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Return for Risk
NHI vs. SPY — Risk / Return Rank
NHI
SPY
NHI vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for National Health Investors, Inc. (NHI) and State Street SPDR S&P 500 ETF (SPY). 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.
| NHI | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.77 | 0.96 | -0.18 |
Sortino ratioReturn per unit of downside risk | 1.21 | 1.49 | -0.28 |
Omega ratioGain probability vs. loss probability | 1.14 | 1.23 | -0.09 |
Calmar ratioReturn relative to maximum drawdown | 1.58 | 1.53 | +0.05 |
Martin ratioReturn relative to average drawdown | 3.48 | 7.27 | -3.79 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NHI | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.77 | 0.96 | -0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.34 | 0.70 | -0.36 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.26 | 0.79 | -0.52 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.56 | -0.15 |
Correlation
The correlation between NHI and SPY is 0.36, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
NHI vs. SPY - Dividend Comparison
NHI's dividend yield for the trailing twelve months is around 4.48%, more than SPY's 1.13% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NHI National Health Investors, Inc. | 4.48% | 4.77% | 5.19% | 6.45% | 6.89% | 6.62% | 6.38% | 5.15% | 5.30% | 5.04% | 4.85% | 5.59% |
SPY State Street SPDR S&P 500 ETF | 1.13% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
NHI vs. SPY - Drawdown Comparison
The maximum NHI drawdown since its inception was -82.88%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for NHI and SPY.
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Drawdown Indicators
| NHI | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.88% | -55.19% | -27.69% |
Max Drawdown (1Y)Largest decline over 1 year | -10.16% | -12.05% | +1.89% |
Max Drawdown (5Y)Largest decline over 5 years | -29.86% | -24.50% | -5.36% |
Max Drawdown (10Y)Largest decline over 10 years | -63.04% | -33.72% | -29.32% |
Current DrawdownCurrent decline from peak | -9.17% | -5.53% | -3.64% |
Average DrawdownAverage peak-to-trough decline | -15.01% | -9.09% | -5.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.62% | 2.54% | +2.08% |
Volatility
NHI vs. SPY - Volatility Comparison
National Health Investors, Inc. (NHI) and State Street SPDR S&P 500 ETF (SPY) have volatilities of 5.37% and 5.35%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NHI | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.37% | 5.35% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 14.91% | 9.50% | +5.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.06% | 19.06% | +1.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.36% | 17.06% | +6.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.81% | 17.92% | +12.89% |