SPYM vs. NIXT
SPYM (State Street SPDR Portfolio S&P 500 ETF) and NIXT (Research Affiliates Deletions ETF) are both exchange-traded funds - SPYM is a S&P 500 fund tracking the S&P 500 Index, while NIXT is a Mid Cap Value Equities fund tracking the Research Affiliates Deletions Index. Both are passively managed. Over the past year, SPYM returned 24.91% vs 31.07% for NIXT. A 0.74 correlation means they provide meaningful diversification when combined. SPYM charges 0.02%/yr vs 0.09%/yr for NIXT.
Performance
SPYM vs. NIXT - Performance Comparison
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Returns By Period
In the year-to-date period, SPYM achieves a 8.75% return, which is significantly lower than NIXT's 17.85% return.
SPYM
- 1D
- 0.24%
- 1M
- 0.23%
- YTD
- 8.75%
- 6M
- 8.78%
- 1Y
- 24.91%
- 3Y*
- 21.46%
- 5Y*
- 13.50%
- 10Y*
- 15.40%
NIXT
- 1D
- 0.30%
- 1M
- 0.86%
- YTD
- 17.85%
- 6M
- 17.13%
- 1Y
- 31.07%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPYM vs. NIXT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SPYM State Street SPDR Portfolio S&P 500 ETF | 8.75% | 17.79% | 7.49% |
NIXT Research Affiliates Deletions ETF | 17.85% | 4.94% | 4.89% |
Correlation
The correlation between SPYM and NIXT is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Sep 11, 2024 | 0.74 |
The correlation between SPYM and NIXT has been stable across timeframes, ranging from 0.69 to 0.74 - a consistent structural relationship.
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Return for Risk
SPYM vs. NIXT — Risk / Return Rank
SPYM
NIXT
SPYM vs. NIXT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Portfolio S&P 500 ETF (SPYM) and Research Affiliates Deletions ETF (NIXT). 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.
| SPYM | NIXT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.61 | ||
| Sortino ratioReturn per unit of downside risk | +0.62 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.25 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.81 | 2.66 | +0.15 |
| Martin ratioReturn relative to average drawdown | 12.97 | 8.96 | +4.01 |
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
| SPYM | NIXT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.08 | 1.47 | +0.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.81 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.86 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | 0.70 | -0.09 |
Drawdowns
SPYM vs. NIXT - Drawdown Comparison
The maximum SPYM drawdown since its inception was -54.46%, which is greater than NIXT's maximum drawdown of -27.75%. Use the drawdown chart below to compare losses from any high point for SPYM and NIXT.
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Drawdown Indicators
| SPYM | NIXT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.46% | -27.75% | -26.71% |
Max Drawdown (1Y)Largest decline over 1 year | -8.90% | -11.71% | +2.81% |
Max Drawdown (3Y)Largest decline over 3 years | -18.72% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -24.48% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -33.87% | — | — |
Current DrawdownCurrent decline from peak | -2.66% | -2.73% | +0.07% |
Average DrawdownAverage peak-to-trough decline | -7.15% | -5.94% | -1.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.92% | 3.48% | -1.56% |
Volatility
SPYM vs. NIXT - Volatility Comparison
The current volatility for State Street SPDR Portfolio S&P 500 ETF (SPYM) is 3.72%, while Research Affiliates Deletions ETF (NIXT) has a volatility of 5.00%. This indicates that SPYM experiences smaller price fluctuations and is considered to be less risky than NIXT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPYM | NIXT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.72% | 5.00% | -1.28% |
Volatility (6M)Calculated over the trailing 6-month period | 9.30% | 14.17% | -4.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.07% | 21.26% | -9.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.84% | 23.28% | -6.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.02% | 23.28% | -5.26% |
SPYM vs. NIXT - Expense Ratio Comparison
SPYM has a 0.02% expense ratio, which is lower than NIXT's 0.09% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SPYM vs. NIXT - Dividend Comparison
SPYM's dividend yield for the trailing twelve months is around 1.02%, less than NIXT's 1.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NIXT Research Affiliates Deletions ETF | 1.35% | 1.64% | 1.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPYM State Street SPDR Portfolio S&P 500 ETF | 1.02% | 1.13% | 1.28% | 1.44% | 1.69% | 1.25% | 1.54% | 1.79% | 2.23% | 1.75% | 1.97% | 1.98% |
Frequently Asked Questions
SPYM and NIXT have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NIXT has higher volatility (5.00%) compared to SPYM (3.72%). In terms of maximum drawdown, SPYM dropped -54.46% vs NIXT's -27.75%.
On 1-year performance, NIXT leads with 31.07% vs 24.91% for SPYM. On fees, SPYM is cheaper at 0.02% per year. On volatility, SPYM has been the lower-risk option at 3.72%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, NIXT has performed better with a 31.07% return vs 24.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPYM is cheaper with a 0.02% expense ratio, compared with 0.09% for NIXT.
NIXT has the higher dividend yield at 1.35%, compared with 1.02% for SPYM.
SPYM is categorized as S&P 500, while NIXT is Mid Cap Value Equities. SPYM tracks S&P 500 Index, while NIXT tracks Research Affiliates Deletions Index. They also come from different issuers: State Street and Research Affiliates. Their fees differ too: 0.02% for SPYM and 0.09% for NIXT.
SPYM currently has the higher Sharpe Ratio (2.08 vs 1.47), 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.
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