NIE vs SPY
Virtus Equity & Convertible Income Fund vs State Street SPDR S&P 500 ETF Trust
Which is better, NIE or SPY?
Equity-oriented Balanced against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | NIE | SPY |
|---|---|---|
| Expense Ratio | 1.07% | 0.09%Best |
| AUM | $794M | $823.2B |
| Dividend Yield | 9.47% | 0.99% |
| Holdings | 196 | 1,515 |
| YTD Return | +8.51% | +13.53%Best |
| 1Y Return | +11.07% | +17.47%Best |
| 3Y Return (annualized) | +17.78% | +22.36%Best |
| 5Y Return (annualized) | +9.41% | +13.21%Best |
| Volatility (annualized) | 17.6% | 15.4%Best |
| Max Drawdown | -63.8% | -56.5%Best |
| $10,000 over 5 years | $15,678 | $18,596Best |
| Fund Family | Virtus Investment Partners | State Street Investment Management |
| Category | Allocation/Balanced | Equity |
| Style | Equity-oriented Balanced | Large Cap Blend |
| Inception | Feb 27, 2007 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Feb 23, 2007 to Oct 14, 2026 (19.6 years).
NIE vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 19.6 years both funds cover.
NIE vs SPY Performance
Virtus Equity & Convertible Income Fund (NIE) is an ETF from Virtus Investment Partners and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year NIE returned +11.07% while SPY returned +17.47%. Year to date, NIE is up 8.51% versus a gain of 13.53% for SPY.
Over three years, NIE compounded at +17.78% per year against +22.36% for SPY; over five years the annualized figures are +9.41% and +13.21% respectively. Across the full 20-year window we track, SPY has the edge at +9.29% annualized vs +3.48%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NIE has been the more volatile fund, with annualized monthly volatility of 17.6% compared with 15.4% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -63.8% for NIE and -56.5% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.84. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
NIE charges 1.07% per year while SPY charges 0.09%. On a $10,000 position that is $107 vs $9 annually, a gap of $98 per year that compounds over a long holding period. On income, NIE currently yields 9.47% against 0.99% for SPY.
Holdings Overlap
At least 60.7% of SPY's money is in holdings NIE also owns.
Stated as a floor: for NIE, our book for it covers 77.6% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
The two portfolios partly overlap.
71 positions in common, counted across the 113 positions we hold weights for in NIE and 504 in SPY, against full books of 196 and 1,515.
Top Shared Holdings
| Stock | Weight in NIE | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 4.97% | 7.78% | 2.81% |
| AAPLApple, Inc | 4.33% | 7.45% | 3.12% |
| MSFTMicrosoft Corp | 2.63% | 5.71% | 3.08% |
| AMZNAmazon.Com Inc | 3.07% | 3.78% | 0.71% |
| AVGOBroadcom Inc | 1.77% | 2.48% | 0.71% |
| GOOGLAlphabet Inc | 1.01% | 3.12% | 2.11% |
| METAMeta Platforms Inc | 0.98% | 2.22% | 1.24% |
| MUMicron Technology, Inc. | 1.25% | 1.59% | 0.34% |
| JPMJpmorgan Chase | 1.10% | 1.43% | 0.33% |
| GOOGAlphabet Inc. C | 0.00% | 2.49% | 2.49% |
60.7% of SPY is already inside NIE.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, NIE or SPY?
NIE has an expense ratio of 1.07% while SPY charges 0.09%. SPY is the cheaper option, by $98 a year on a $10,000 investment.
Which performed better, NIE or SPY?
Over the past year NIE returned +11.07% vs +17.47% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (20 years), NIE annualized +3.48% vs +9.29% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, NIE or SPY?
NIE has been the more volatile fund at 17.6% annualized versus 15.4% for SPY. Worst drawdown: NIE -63.8% vs SPY -56.5%.
Should I hold both NIE and SPY?
NIE and SPY have a monthly-return correlation of 0.84, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between NIE and SPY?
At least 60.7% of SPY's money is in holdings NIE also owns. Our book for NIE is partial, so the real figure is this or higher. They hold 71 positions in common, counted across the 113 positions we hold weights for in NIE and 504 in SPY.
Which pays a higher dividend, NIE or SPY?
NIE yields 9.47% while SPY yields 0.99%, so NIE currently pays the higher dividend yield.
Is SPY better than NIE?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.