SPXX vs. SPINX

Last updated Apr 3, 2026

Compare and contrast key facts about Nuveen S&P 500 Dynamic Overwrite Fund (SPXX) and SEI Institutional Investments Trust S&P 500 Index Fund (SPINX).

SPXX is an actively managed fund by Nuveen. It was launched on Nov 23, 2005. SPINX is a passively managed fund by SEI that tracks the performance of the S&P 500 Index. It was launched on Dec 18, 2013.

Performance

SPXX vs. SPINX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen S&P 500 Dynamic Overwrite Fund (SPXX) and SEI Institutional Investments Trust S&P 500 Index Fund (SPINX). The values are adjusted to include any dividend payments, if applicable.

SPXX vs. SPINX - 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%
SPINX SEI Institutional Investments Trust S&P 500 Index Fund	-3.64%	17.89%	24.02%	26.24%	-18.27%	28.62%	18.35%	31.42%	-4.46%	21.74%

Returns By Period

In the year-to-date period, SPXX achieves a -8.51% return, which is significantly lower than SPINX's -3.64% return. Over the past 10 years, SPXX has underperformed SPINX with an annualized return of 9.26%, while SPINX has yielded a comparatively higher 14.01% 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%

SPINX

• 1D: 0.75%
• 1M: -3.41%
• YTD: -3.64%
• 6M: -1.40%
• 1Y: 17.43%
• 3Y*: 18.27%
• 5Y*: 11.71%
• 10Y*: 14.01%

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

SPXX vs. SPINX - Expense Ratio Comparison

SPXX has a 0.89% expense ratio, which is higher than SPINX's 0.12% expense ratio.

SPXX

Nuveen S&P 500 Dynamic Overwrite Fund

SPINX

SEI Institutional Investments Trust S&P 500 Index Fund

Return for Risk

SPXX vs. SPINX — Risk / Return Rank

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

SPXX

SPXX Risk / Return Rank: 6
SPXX Sharpe Ratio Rank: 5
SPXX Sortino Ratio Rank: 5
SPXX Omega Ratio Rank: 5
SPXX Calmar Ratio Rank: 7
SPXX Martin Ratio Rank: 7

SPINX

SPINX Risk / Return Rank: 49
SPINX Sharpe Ratio Rank: 42
SPINX Sortino Ratio Rank: 45
SPINX Omega Ratio Rank: 48
SPINX Calmar Ratio Rank: 49
SPINX Martin Ratio Rank: 61

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.

SPXX vs. SPINX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen S&P 500 Dynamic Overwrite Fund (SPXX) and SEI Institutional Investments Trust S&P 500 Index Fund (SPINX). 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	SPINX	Difference
Sharpe ratio Return per unit of total volatility	0.13	1.00	-0.87
Sortino ratio Return per unit of downside risk	0.32	1.52	-1.20
Omega ratio Gain probability vs. loss probability	1.04	1.23	-0.19
Calmar ratio Return relative to maximum drawdown	0.24	1.54	-1.30
Martin ratio Return relative to average drawdown	0.81	7.31	-6.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPXX vs. SPINX - Sharpe Ratio Comparison

The current SPXX Sharpe Ratio is 0.13, which is lower than the SPINX Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of SPXX and SPINX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SPXX	SPINX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.13	1.00	-0.87
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.44	0.52	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.67	-0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.65	-0.29

Correlation

The correlation between SPXX and SPINX 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. SPINX - Dividend Comparison

SPXX's dividend yield for the trailing twelve months is around 8.34%, less than SPINX's 12.35% 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%
SPINX SEI Institutional Investments Trust S&P 500 Index Fund	12.35%	11.90%	26.02%	9.77%	9.59%	6.58%	3.58%	3.01%	4.94%	2.32%	1.97%	2.29%

Drawdowns

SPXX vs. SPINX - Drawdown Comparison

The maximum SPXX drawdown since its inception was -52.39%, which is greater than SPINX's maximum drawdown of -33.82%. Use the drawdown chart below to compare losses from any high point for SPXX and SPINX.

Drawdown Indicators

	SPXX	SPINX	Difference
Max Drawdown Largest peak-to-trough decline	-52.39%	-33.82%	-18.57%
Max Drawdown (1Y) Largest decline over 1 year	-11.86%	-8.92%	-2.94%
Max Drawdown (5Y) Largest decline over 5 years	-18.09%	-32.91%	+14.82%
Max Drawdown (10Y) Largest decline over 10 years	-43.99%	-33.82%	-10.17%
Current Drawdown Current decline from peak	-9.91%	-10.36%	+0.45%
Average Drawdown Average peak-to-trough decline	-7.51%	-5.25%	-2.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.80%	2.55%	+1.25%

Volatility

SPXX vs. SPINX - Volatility Comparison

The current volatility for Nuveen S&P 500 Dynamic Overwrite Fund (SPXX) is 4.90%, while SEI Institutional Investments Trust S&P 500 Index Fund (SPINX) has a volatility of 5.39%. This indicates that SPXX experiences smaller price fluctuations and is considered to be less risky than SPINX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPXX	SPINX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.90%	5.39%	-0.49%
Volatility (6M) Calculated over the trailing 6-month period	9.28%	9.61%	-0.33%
Volatility (1Y) Calculated over the trailing 1-year period	17.98%	18.34%	-0.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.80%	22.50%	-6.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.39%	20.93%	-2.54%