SPIAX vs. BXMX
Compare and contrast key facts about Invesco S&P 500 Index A (SPIAX) and Nuveen S&P 500 Buy-Write Income Fund (BXMX).
SPIAX is a passively managed fund by Invesco that tracks the performance of the S&P 500. It was launched on Sep 26, 1997. BXMX is an actively managed fund by Nuveen. It was launched on Nov 25, 2004.
Performance
SPIAX vs. BXMX - Performance Comparison
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SPIAX vs. BXMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPIAX Invesco S&P 500 Index A | -7.17% | 17.23% | 24.34% | 25.63% | -18.56% | 27.99% | 17.84% | 30.78% | -4.97% | 21.13% |
BXMX Nuveen S&P 500 Buy-Write Income Fund | -8.03% | 13.74% | 17.26% | 9.10% | -7.18% | 20.83% | 1.11% | 22.22% | -9.06% | 19.76% |
Returns By Period
In the year-to-date period, SPIAX achieves a -7.17% return, which is significantly higher than BXMX's -8.03% return. Over the past 10 years, SPIAX has outperformed BXMX with an annualized return of 13.13%, while BXMX has yielded a comparatively lower 8.03% annualized return.
SPIAX
- 1D
- -0.39%
- 1M
- -7.71%
- YTD
- -7.17%
- 6M
- -4.82%
- 1Y
- 13.84%
- 3Y*
- 16.56%
- 5Y*
- 10.82%
- 10Y*
- 13.13%
BXMX
- 1D
- -2.07%
- 1M
- -7.53%
- YTD
- -8.03%
- 6M
- -4.57%
- 1Y
- 9.21%
- 3Y*
- 9.29%
- 5Y*
- 7.43%
- 10Y*
- 8.03%
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SPIAX vs. BXMX - Expense Ratio Comparison
SPIAX has a 0.54% expense ratio, which is lower than BXMX's 0.89% expense ratio.
Return for Risk
SPIAX vs. BXMX — Risk / Return Rank
SPIAX
BXMX
SPIAX vs. BXMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Index A (SPIAX) and Nuveen S&P 500 Buy-Write Income Fund (BXMX). 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.
| SPIAX | BXMX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.81 | 0.52 | +0.28 |
Sortino ratioReturn per unit of downside risk | 1.25 | 0.87 | +0.39 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.13 | +0.06 |
Calmar ratioReturn relative to maximum drawdown | 0.95 | 0.73 | +0.22 |
Martin ratioReturn relative to average drawdown | 4.59 | 3.22 | +1.37 |
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
| SPIAX | BXMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.81 | 0.52 | +0.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.65 | 0.50 | +0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.73 | 0.46 | +0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.36 | +0.07 |
Correlation
The correlation between SPIAX and BXMX is 0.66, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
SPIAX vs. BXMX - Dividend Comparison
SPIAX's dividend yield for the trailing twelve months is around 1.09%, less than BXMX's 8.22% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPIAX Invesco S&P 500 Index A | 1.09% | 1.01% | 1.08% | 1.04% | 1.07% | 1.90% | 1.26% | 1.93% | 2.59% | 1.28% | 1.28% | 1.53% |
BXMX Nuveen S&P 500 Buy-Write Income Fund | 8.22% | 7.41% | 7.02% | 7.37% | 7.48% | 5.87% | 6.81% | 6.76% | 8.12% | 6.41% | 7.33% | 7.42% |
Drawdowns
SPIAX vs. BXMX - Drawdown Comparison
The maximum SPIAX drawdown since its inception was -55.47%, which is greater than BXMX's maximum drawdown of -49.53%. Use the drawdown chart below to compare losses from any high point for SPIAX and BXMX.
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Drawdown Indicators
| SPIAX | BXMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.47% | -49.53% | -5.94% |
Max Drawdown (1Y)Largest decline over 1 year | -12.15% | -11.42% | -0.73% |
Max Drawdown (5Y)Largest decline over 5 years | -24.81% | -17.94% | -6.87% |
Max Drawdown (10Y)Largest decline over 10 years | -33.84% | -38.77% | +4.93% |
Current DrawdownCurrent decline from peak | -8.97% | -9.75% | +0.78% |
Average DrawdownAverage peak-to-trough decline | -10.84% | -5.69% | -5.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.58% | 2.58% | 0.00% |
Volatility
SPIAX vs. BXMX - Volatility Comparison
Invesco S&P 500 Index A (SPIAX) and Nuveen S&P 500 Buy-Write Income Fund (BXMX) have volatilities of 4.25% and 4.26%, 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
| SPIAX | BXMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.25% | 4.26% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 9.11% | 8.32% | +0.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.17% | 16.43% | +1.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.87% | 14.98% | +1.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.05% | 17.44% | +0.61% |