NIE vs. SPY
Compare and contrast key facts about Virtus Equity & Convertible Income Fund (NIE) and State Street SPDR S&P 500 ETF (SPY).
NIE is an actively managed fund by Virtus. It was launched on Feb 27, 2007. 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
NIE vs. SPY - Performance Comparison
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NIE vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NIE Virtus Equity & Convertible Income Fund | -4.30% | 12.15% | 28.64% | 26.71% | -26.73% | 18.89% | 33.78% | 31.09% | -5.69% | 23.68% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
The year-to-date returns for both stocks are quite close, with NIE having a -4.30% return and SPY slightly lower at -4.37%. Over the past 10 years, NIE has underperformed SPY with an annualized return of 12.87%, while SPY has yielded a comparatively higher 13.98% annualized return.
NIE
- 1D
- 1.88%
- 1M
- -6.11%
- YTD
- -4.30%
- 6M
- -1.10%
- 1Y
- 16.95%
- 3Y*
- 16.50%
- 5Y*
- 8.54%
- 10Y*
- 12.87%
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
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NIE vs. SPY - Expense Ratio Comparison
NIE has a 1.12% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
NIE vs. SPY — Risk / Return Rank
NIE
SPY
NIE vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Virtus Equity & Convertible Income Fund (NIE) 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.
| NIE | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.97 | 0.93 | +0.04 |
Sortino ratioReturn per unit of downside risk | 1.45 | 1.45 | 0.00 |
Omega ratioGain probability vs. loss probability | 1.23 | 1.22 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 1.33 | 1.53 | -0.20 |
Martin ratioReturn relative to average drawdown | 6.09 | 7.30 | -1.21 |
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
| NIE | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.97 | 0.93 | +0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.49 | 0.69 | -0.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.65 | 0.78 | -0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.56 | -0.16 |
Correlation
The correlation between NIE and SPY is 0.76, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
NIE vs. SPY - Dividend Comparison
NIE's dividend yield for the trailing twelve months is around 10.81%, more than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NIE Virtus Equity & Convertible Income Fund | 10.81% | 10.14% | 8.11% | 9.56% | 21.81% | 10.86% | 5.37% | 6.71% | 8.20% | 7.19% | 8.25% | 8.46% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
NIE vs. SPY - Drawdown Comparison
The maximum NIE drawdown since its inception was -57.90%, roughly equal to the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for NIE and SPY.
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Drawdown Indicators
| NIE | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.90% | -55.19% | -2.71% |
Max Drawdown (1Y)Largest decline over 1 year | -12.51% | -12.05% | -0.46% |
Max Drawdown (5Y)Largest decline over 5 years | -31.04% | -24.50% | -6.54% |
Max Drawdown (10Y)Largest decline over 10 years | -38.99% | -33.72% | -5.27% |
Current DrawdownCurrent decline from peak | -7.16% | -6.24% | -0.92% |
Average DrawdownAverage peak-to-trough decline | -8.07% | -9.09% | +1.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.73% | 2.52% | +0.21% |
Volatility
NIE vs. SPY - Volatility Comparison
The current volatility for Virtus Equity & Convertible Income Fund (NIE) is 5.04%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 5.31%. This indicates that NIE experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NIE | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.04% | 5.31% | -0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 8.48% | 9.47% | -0.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.63% | 19.05% | -1.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.53% | 17.06% | +0.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.71% | 17.92% | +1.79% |