TLLRX vs. SPXX

Last updated Jun 6, 2026

TLLRX (Nuveen Lifecycle Index 2050 Fund Retirement Class) and SPXX (Nuveen S&P 500 Dynamic Overwrite Fund) are both mutual funds - TLLRX is a Target Retirement Date fund tracking the Nuveen Lifecycle Index 2050 strategic allocation, while SPXX is a S&P 500 fund actively managed by Nuveen. TLLRX is passively managed, while SPXX is actively managed. Over the past 10 years, TLLRX returned 11.81%/yr vs 9.95%/yr for SPXX. A 0.72 correlation means they provide meaningful diversification when combined. TLLRX charges 0.35%/yr vs 0.89%/yr for SPXX.

Performance

TLLRX vs. SPXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Lifecycle Index 2050 Fund Retirement Class (TLLRX) and Nuveen S&P 500 Dynamic Overwrite Fund (SPXX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TLLRX achieves a 11.44% return, which is significantly higher than SPXX's 2.17% return. Over the past 10 years, TLLRX has outperformed SPXX with an annualized return of 11.81%, while SPXX has yielded a comparatively lower 9.95% annualized return.

TLLRX

• 1D: 0.30%
• 1M: 2.16%
• YTD: 11.44%
• 6M: 11.86%
• 1Y: 26.83%
• 3Y*: 19.24%
• 5Y*: 9.99%
• 10Y*: 11.81%

SPXX

• 1D: -1.95%
• 1M: 1.46%
• YTD: 2.17%
• 6M: 4.20%
• 1Y: 12.99%
• 3Y*: 13.19%
• 5Y*: 7.42%
• 10Y*: 9.95%

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

TLLRX vs. SPXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TLLRX Nuveen Lifecycle Index 2050 Fund Retirement Class	11.44%	20.46%	14.87%	20.25%	-17.73%	16.86%	16.87%	25.77%	-7.29%	19.11%
SPXX Nuveen S&P 500 Dynamic Overwrite Fund	2.17%	9.78%	27.10%	0.85%	-6.92%	29.03%	-0.37%	25.36%	-13.42%	27.92%

Correlation

The correlation between TLLRX and SPXX is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.70
Correlation (All Time) Calculated using the full available price history since Oct 2, 2009	0.72

The correlation between TLLRX and SPXX has been stable across timeframes, ranging from 0.70 to 0.77 - a consistent structural relationship.

Return for Risk

TLLRX vs. SPXX — Risk / Return Rank

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

TLLRX

TLLRX Risk / Return Rank: 68
TLLRX Sharpe Ratio Rank: 69
TLLRX Sortino Ratio Rank: 65
TLLRX Omega Ratio Rank: 64
TLLRX Calmar Ratio Rank: 67
TLLRX Martin Ratio Rank: 74

SPXX

SPXX Risk / Return Rank: 15
SPXX Sharpe Ratio Rank: 16
SPXX Sortino Ratio Rank: 16
SPXX Omega Ratio Rank: 15
SPXX Calmar Ratio Rank: 13
SPXX Martin Ratio Rank: 14

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.

TLLRX vs. SPXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Lifecycle Index 2050 Fund Retirement Class (TLLRX) and Nuveen S&P 500 Dynamic Overwrite Fund (SPXX). 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.

	TLLRX	SPXX	Difference
Sharpe ratio: Return per unit of total volatility	2.35	1.08	+1.27
Sortino ratio: Return per unit of downside risk	3.27	1.56	+1.71
Omega ratio: Gain probability vs. loss probability	1.43	1.19	+0.24
Calmar ratio: Return relative to maximum drawdown	3.04	1.10	+1.94
Martin ratio: Return relative to average drawdown	13.51	3.74	+9.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TLLRX vs. SPXX - Sharpe Ratio Comparison

The current TLLRX Sharpe Ratio is 2.35, which is higher than the SPXX Sharpe Ratio of 1.08. The chart below compares the historical Sharpe Ratios of TLLRX and SPXX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TLLRX	SPXX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.35	1.08	+1.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.47	+0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.76	0.54	+0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.72	0.39	+0.33

Drawdowns

TLLRX vs. SPXX - Drawdown Comparison

The maximum TLLRX drawdown since its inception was -31.43%, smaller than the maximum SPXX drawdown of -52.39%. Use the drawdown chart below to compare losses from any high point for TLLRX and SPXX.

Drawdown Indicators

	TLLRX	SPXX	Difference
Max Drawdown Largest peak-to-trough decline	-31.43%	-52.39%	+20.96%
Max Drawdown (1Y) Largest decline over 1 year	-8.81%	-11.86%	+3.05%
Max Drawdown (3Y) Largest decline over 3 years	-14.91%	-17.65%	+2.74%
Max Drawdown (5Y) Largest decline over 5 years	-25.56%	-18.09%	-7.47%
Max Drawdown (10Y) Largest decline over 10 years	-31.43%	-43.99%	+12.56%
Current Drawdown Current decline from peak	-0.42%	-2.11%	+1.69%
Average Drawdown Average peak-to-trough decline	-4.22%	-7.47%	+3.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	3.48%	-1.51%

Volatility

TLLRX vs. SPXX - Volatility Comparison

Nuveen Lifecycle Index 2050 Fund Retirement Class (TLLRX) and Nuveen S&P 500 Dynamic Overwrite Fund (SPXX) have volatilities of 3.39% and 3.37%, 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.

Volatility by Period

	TLLRX	SPXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.39%	3.37%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	9.05%	9.12%	-0.07%
Volatility (1Y) Calculated over the trailing 1-year period	11.38%	12.11%	-0.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.46%	15.83%	-1.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.50%	18.42%	-2.92%

TLLRX vs. SPXX - Expense Ratio Comparison

TLLRX has a 0.35% expense ratio, which is lower than SPXX's 0.89% expense ratio.

Dividends

TLLRX vs. SPXX - Dividend Comparison

TLLRX's dividend yield for the trailing twelve months is around 2.61%, less than SPXX's 7.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPXX Nuveen S&P 500 Dynamic Overwrite Fund	7.47%	7.48%	6.87%	7.82%	7.30%	5.27%	6.56%	6.44%	7.98%	5.69%	5.14%	7.75%
TLLRX Nuveen Lifecycle Index 2050 Fund Retirement Class	2.61%	2.91%	2.02%	1.96%	2.11%	2.08%	1.51%	2.04%	2.42%	0.15%	2.41%	0.27%

Frequently Asked Questions

Can I hold both TLLRX and SPXX in my portfolio?

TLLRX and SPXX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TLLRX or SPXX?

TLLRX has higher volatility (3.39%) compared to SPXX (3.37%). In terms of maximum drawdown, TLLRX dropped -31.43% vs SPXX's -52.39%.

Which has better risk-adjusted returns?

TLLRX currently has the higher Sharpe Ratio (2.35 vs 1.08), 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.