SPFF vs. NLY

Last updated Jun 4, 2026

SPFF (Global X SuperIncome Preferred ETF) is Preferred Stock/Convertible Bonds fund tracking the S&P Enhanced Yield North American Preferred Stock Index, while NLY (Annaly Capital Management, Inc.) is a stock. Over the past 10 years, SPFF returned 3.13%/yr vs 5.38%/yr for NLY. At a 0.36 correlation, their price movements are largely independent.

Performance

SPFF vs. NLY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X SuperIncome Preferred ETF (SPFF) and Annaly Capital Management, Inc. (NLY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPFF achieves a 6.91% return, which is significantly higher than NLY's -2.10% return. Over the past 10 years, SPFF has underperformed NLY with an annualized return of 3.13%, while NLY has yielded a comparatively higher 5.38% annualized return.

SPFF

• 1D: -0.20%
• 1M: 3.90%
• YTD: 6.91%
• 6M: 8.28%
• 1Y: 18.49%
• 3Y*: 8.98%
• 5Y*: 2.16%
• 10Y*: 3.13%

NLY

• 1D: -0.61%
• 1M: -5.28%
• YTD: -2.10%
• 6M: -1.06%
• 1Y: 28.01%
• 3Y*: 17.31%
• 5Y*: 1.77%
• 10Y*: 5.38%

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

SPFF vs. NLY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPFF Global X SuperIncome Preferred ETF	6.91%	7.52%	8.62%	3.00%	-14.29%	5.15%	6.91%	13.04%	-2.55%	1.80%
NLY Annaly Capital Management, Inc.	-2.10%	40.00%	8.07%	4.94%	-21.41%	2.48%	2.38%	7.22%	-7.22%	31.92%

Correlation

The correlation between SPFF and NLY is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (10Y) Calculated over the trailing 10-year period	0.41
Correlation (All Time) Calculated using the full available price history since Jul 20, 2012	0.36

The correlation between SPFF and NLY shifts across timeframes, from 0.36 (all time) to 0.50 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

SPFF vs. NLY — Risk / Return Rank

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

SPFF

SPFF Risk / Return Rank: 53
SPFF Sharpe Ratio Rank: 57
SPFF Sortino Ratio Rank: 58
SPFF Omega Ratio Rank: 54
SPFF Calmar Ratio Rank: 49
SPFF Martin Ratio Rank: 45

NLY

NLY Risk / Return Rank: 76
NLY Sharpe Ratio Rank: 81
NLY Sortino Ratio Rank: 77
NLY Omega Ratio Rank: 74
NLY Calmar Ratio Rank: 73
NLY Martin Ratio Rank: 77

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.

SPFF vs. NLY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X SuperIncome Preferred ETF (SPFF) and Annaly Capital Management, Inc. (NLY). 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.

	SPFF	NLY	Difference
Sharpe ratio: Return per unit of total volatility	1.96	1.52	+0.44
Sortino ratio: Return per unit of downside risk	2.79	2.11	+0.68
Omega ratio: Gain probability vs. loss probability	1.34	1.26	+0.08
Calmar ratio: Return relative to maximum drawdown	2.45	1.89	+0.56
Martin ratio: Return relative to average drawdown	7.46	5.80	+1.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPFF vs. NLY - Sharpe Ratio Comparison

The current SPFF Sharpe Ratio is 1.96, which is comparable to the NLY Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of SPFF and NLY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SPFF	NLY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.96	1.52	+0.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.20	0.07	+0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.23	0.19	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.31	-0.01

Drawdowns

SPFF vs. NLY - Drawdown Comparison

The maximum SPFF drawdown since its inception was -35.92%, smaller than the maximum NLY drawdown of -60.09%. Use the drawdown chart below to compare losses from any high point for SPFF and NLY.

Drawdown Indicators

	SPFF	NLY	Difference
Max Drawdown Largest peak-to-trough decline	-35.92%	-60.09%	+24.17%
Max Drawdown (1Y) Largest decline over 1 year	-7.58%	-14.88%	+7.30%
Max Drawdown (3Y) Largest decline over 3 years	-12.51%	-26.70%	+14.19%
Max Drawdown (5Y) Largest decline over 5 years	-22.88%	-52.12%	+29.24%
Max Drawdown (10Y) Largest decline over 10 years	-35.92%	-60.09%	+24.17%
Current Drawdown Current decline from peak	-0.20%	-10.28%	+10.08%
Average Drawdown Average peak-to-trough decline	-4.06%	-13.75%	+9.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.49%	4.84%	-2.35%

Volatility

SPFF vs. NLY - Volatility Comparison

The current volatility for Global X SuperIncome Preferred ETF (SPFF) is 2.97%, while Annaly Capital Management, Inc. (NLY) has a volatility of 3.96%. This indicates that SPFF experiences smaller price fluctuations and is considered to be less risky than NLY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPFF	NLY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.97%	3.96%	-0.99%
Volatility (6M) Calculated over the trailing 6-month period	7.29%	14.60%	-7.31%
Volatility (1Y) Calculated over the trailing 1-year period	9.53%	18.54%	-9.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.93%	25.53%	-14.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.51%	28.11%	-14.60%

Dividends

SPFF vs. NLY - Dividend Comparison

SPFF's dividend yield for the trailing twelve months is around 6.34%, less than NLY's 13.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NLY Annaly Capital Management, Inc.	13.23%	12.52%	14.21%	13.42%	16.70%	11.25%	10.77%	11.15%	12.22%	10.09%	12.04%	12.79%
SPFF Global X SuperIncome Preferred ETF	6.34%	6.47%	6.39%	6.64%	7.15%	5.78%	5.75%	5.97%	7.60%	7.24%	7.04%	7.50%

Frequently Asked Questions

Can I hold both SPFF and NLY in my portfolio?

SPFF and NLY have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPFF or NLY?

NLY has higher volatility (3.96%) compared to SPFF (2.97%). In terms of maximum drawdown, SPFF dropped -35.92% vs NLY's -60.09%.

Which has better risk-adjusted returns?

SPFF currently has the higher Sharpe Ratio (1.96 vs 1.52), 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.