SPG vs. QQQX

Last updated Jun 23, 2026

SPG (Simon Property Group, Inc.) is a stock, while QQQX (Nuveen Nasdaq 100 Dynamic Overwrite Fund) is Derivative Income fund actively managed by Nuveen. Over the past 10 years, SPG returned 5.70%/yr vs 13.67%/yr for QQQX. At a 0.41 correlation, their price movements are largely independent.

Performance

SPG vs. QQQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simon Property Group, Inc. (SPG) and Nuveen Nasdaq 100 Dynamic Overwrite Fund (QQQX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPG achieves a 18.54% return, which is significantly higher than QQQX's 9.72% return. Over the past 10 years, SPG has underperformed QQQX with an annualized return of 5.70%, while QQQX has yielded a comparatively higher 13.67% annualized return.

SPG

• 1D: 1.53%
• 1M: 6.12%
• YTD: 18.54%
• 6M: 17.55%
• 1Y: 42.92%
• 3Y*: 32.39%
• 5Y*: 16.45%
• 10Y*: 5.70%

QQQX

• 1D: -0.42%
• 1M: -0.11%
• YTD: 9.72%
• 6M: 10.69%
• 1Y: 29.13%
• 3Y*: 15.64%
• 5Y*: 8.85%
• 10Y*: 13.67%

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

SPG vs. QQQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPG Simon Property Group, Inc.	18.54%	12.94%	26.92%	29.24%	-21.91%	95.72%	-38.64%	-6.74%	2.55%	0.98%
QQQX Nuveen Nasdaq 100 Dynamic Overwrite Fund	9.72%	14.87%	25.61%	21.68%	-27.39%	25.32%	15.75%	28.83%	-11.68%	39.19%

Correlation

The correlation between SPG and QQQX is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (10Y) Calculated over the trailing 10-year period	0.32
Correlation (All Time) Calculated using the full available price history since Feb 1, 2007	0.41

Over the past year, the correlation between SPG and QQQX has dropped to 0.15 - well below their long-term average of 0.41, suggesting their price drivers have been diverging.

Fundamentals

EPS SPG : $17.14 QQQX : $7.57
PE Ratio SPG : 12.52 QQQX : 3.75
PEG Ratio SPG : 0.50 QQQX : 0.43
PS Ratio SPG : 7.91 QQQX : 8.63
Total Revenue (TTM) SPG : $6.65B QQQX : $160.60M
Gross Profit (TTM) SPG : $5.71B QQQX : $152.14M
EBITDA (TTM) SPG : $7.77B QQQX : $369.75M

Return for Risk

SPG vs. QQQX — Risk / Return Rank

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

SPG

SPG Risk / Return Rank: 90
SPG Sharpe Ratio Rank: 91
SPG Sortino Ratio Rank: 91
SPG Omega Ratio Rank: 88
SPG Calmar Ratio Rank: 88
SPG Martin Ratio Rank: 92

QQQX

QQQX Risk / Return Rank: 62
QQQX Sharpe Ratio Rank: 52
QQQX Sortino Ratio Rank: 51
QQQX Omega Ratio Rank: 51
QQQX Calmar Ratio Rank: 75
QQQX Martin Ratio Rank: 81

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.

SPG vs. QQQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simon Property Group, Inc. (SPG) and Nuveen Nasdaq 100 Dynamic Overwrite Fund (QQQX). 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.

	SPG	QQQX	Difference
Sharpe ratio: Return per unit of total volatility	2.27	1.95	+0.32
Sortino ratio: Return per unit of downside risk	3.17	2.77	+0.40
Omega ratio: Gain probability vs. loss probability	1.38	1.36	+0.02
Calmar ratio: Return relative to maximum drawdown	3.74	3.21	+0.53
Martin ratio: Return relative to average drawdown	13.43	13.97	-0.54

SPG vs. QQQX - Sharpe Ratio Comparison

The current SPG Sharpe Ratio is 2.27, which is comparable to the QQQX Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of SPG and QQQX, 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

SPG vs. QQQX - Drawdown Comparison

The maximum SPG drawdown since its inception was -77.00%, which is greater than QQQX's maximum drawdown of -57.25%. Use the drawdown chart below to compare losses from any high point for SPG and QQQX.

Drawdown Indicators

	SPG	QQQX	Difference
Max Drawdown Largest peak-to-trough decline	-77.00%	-57.25%	-19.75%
Max Drawdown (1Y) Largest decline over 1 year	-11.54%	-9.11%	-2.43%
Max Drawdown (3Y) Largest decline over 3 years	-24.32%	-22.80%	-1.52%
Max Drawdown (5Y) Largest decline over 5 years	-45.84%	-29.33%	-16.51%
Max Drawdown (10Y) Largest decline over 10 years	-77.00%	-35.96%	-41.04%
Current Drawdown Current decline from peak	-2.04%	-3.61%	+1.57%
Average Drawdown Average peak-to-trough decline	-13.83%	-8.01%	-5.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	2.09%	+1.11%

Volatility

SPG vs. QQQX - Volatility Comparison

Simon Property Group, Inc. (SPG) has a higher volatility of 6.22% compared to Nuveen Nasdaq 100 Dynamic Overwrite Fund (QQQX) at 5.70%. This indicates that SPG's price experiences larger fluctuations and is considered to be riskier than QQQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPG	QQQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.22%	5.70%	+0.52%
Volatility (6M) Calculated over the trailing 6-month period	14.42%	12.36%	+2.06%
Volatility (1Y) Calculated over the trailing 1-year period	19.05%	15.01%	+4.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.48%	19.92%	+6.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.12%	21.12%	+16.00%

Dividends

SPG vs. QQQX - Dividend Comparison

SPG's dividend yield for the trailing twelve months is around 4.10%, less than QQQX's 8.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQQX Nuveen Nasdaq 100 Dynamic Overwrite Fund	8.28%	7.85%	6.73%	7.26%	9.66%	5.85%	6.00%	6.49%	8.40%	5.95%	7.54%	7.23%
SPG Simon Property Group, Inc.	4.10%	4.62%	4.70%	5.22%	5.87%	3.66%	7.04%	5.57%	4.70%	4.16%	3.66%	3.11%

Frequently Asked Questions

Can I hold both SPG and QQQX in my portfolio?

SPG and QQQX have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPG or QQQX?

SPG has higher volatility (6.22%) compared to QQQX (5.70%). In terms of maximum drawdown, SPG dropped -77.00% vs QQQX's -57.25%.

Which has better risk-adjusted returns?

SPG currently has the higher Sharpe Ratio (2.27 vs 1.95), 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.