SPXX vs. MSXAX
Compare and contrast key facts about Nuveen S&P 500 Dynamic Overwrite Fund (SPXX) and NYLI S&P 500 Index Class A (MSXAX).
SPXX is an actively managed fund by Nuveen. It was launched on Nov 23, 2005. MSXAX is a passively managed fund by New York Life that tracks the performance of the S&P 500 Index. It was launched on Jan 2, 2004.
Performance
SPXX vs. MSXAX - Performance Comparison
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SPXX vs. MSXAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPXX Nuveen S&P 500 Dynamic Overwrite Fund | -8.51% | 9.78% | 27.10% | 0.85% | -6.92% | 29.03% | -0.37% | 25.36% | -13.42% | 27.92% |
MSXAX NYLI S&P 500 Index Class A | -3.76% | 17.26% | 23.98% | 25.96% | -18.52% | 28.13% | 17.86% | 30.69% | -4.71% | 21.07% |
Returns By Period
In the year-to-date period, SPXX achieves a -8.51% return, which is significantly lower than MSXAX's -3.76% return. Over the past 10 years, SPXX has underperformed MSXAX with an annualized return of 9.26%, while MSXAX has yielded a comparatively higher 13.59% annualized return.
SPXX
- 1D
- -0.74%
- 1M
- -6.76%
- YTD
- -8.51%
- 6M
- -4.48%
- 1Y
- 2.30%
- 3Y*
- 9.10%
- 5Y*
- 6.97%
- 10Y*
- 9.26%
MSXAX
- 1D
- 0.72%
- 1M
- -3.47%
- YTD
- -3.76%
- 6M
- -1.75%
- 1Y
- 16.79%
- 3Y*
- 17.97%
- 5Y*
- 11.39%
- 10Y*
- 13.59%
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SPXX vs. MSXAX - Expense Ratio Comparison
SPXX has a 0.89% expense ratio, which is higher than MSXAX's 0.52% expense ratio.
Return for Risk
SPXX vs. MSXAX — Risk / Return Rank
SPXX
MSXAX
SPXX vs. MSXAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen S&P 500 Dynamic Overwrite Fund (SPXX) and NYLI S&P 500 Index Class A (MSXAX). 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.
| SPXX | MSXAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.13 | 0.97 | -0.84 |
Sortino ratioReturn per unit of downside risk | 0.32 | 1.48 | -1.16 |
Omega ratioGain probability vs. loss probability | 1.04 | 1.23 | -0.18 |
Calmar ratioReturn relative to maximum drawdown | 0.24 | 1.54 | -1.31 |
Martin ratioReturn relative to average drawdown | 0.81 | 7.29 | -6.48 |
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
| SPXX | MSXAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.13 | 0.97 | -0.84 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.44 | 0.68 | -0.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | 0.76 | -0.25 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.52 | -0.16 |
Correlation
The correlation between SPXX and MSXAX is 0.71, 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
SPXX vs. MSXAX - Dividend Comparison
SPXX's dividend yield for the trailing twelve months is around 8.34%, more than MSXAX's 1.10% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPXX Nuveen S&P 500 Dynamic Overwrite Fund | 8.34% | 7.48% | 6.87% | 7.82% | 7.30% | 5.27% | 6.56% | 6.44% | 7.98% | 5.69% | 5.14% | 7.75% |
MSXAX NYLI S&P 500 Index Class A | 1.10% | 1.06% | 5.20% | 4.04% | 10.30% | 4.44% | 8.78% | 17.42% | 14.49% | 15.18% | 9.63% | 5.53% |
Drawdowns
SPXX vs. MSXAX - Drawdown Comparison
The maximum SPXX drawdown since its inception was -52.39%, smaller than the maximum MSXAX drawdown of -55.48%. Use the drawdown chart below to compare losses from any high point for SPXX and MSXAX.
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Drawdown Indicators
| SPXX | MSXAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.39% | -55.48% | +3.09% |
Max Drawdown (1Y)Largest decline over 1 year | -11.86% | -8.97% | -2.89% |
Max Drawdown (5Y)Largest decline over 5 years | -18.09% | -24.78% | +6.69% |
Max Drawdown (10Y)Largest decline over 10 years | -43.99% | -33.79% | -10.20% |
Current DrawdownCurrent decline from peak | -9.91% | -5.63% | -4.28% |
Average DrawdownAverage peak-to-trough decline | -7.51% | -7.21% | -0.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.80% | 2.57% | +1.23% |
Volatility
SPXX vs. MSXAX - Volatility Comparison
The current volatility for Nuveen S&P 500 Dynamic Overwrite Fund (SPXX) is 4.90%, while NYLI S&P 500 Index Class A (MSXAX) has a volatility of 5.38%. This indicates that SPXX experiences smaller price fluctuations and is considered to be less risky than MSXAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPXX | MSXAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.90% | 5.38% | -0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 9.28% | 9.55% | -0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.98% | 18.32% | -0.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.80% | 16.92% | -1.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.39% | 18.05% | +0.34% |