SPXX vs VTI
Nuveen S&P 500 Dynamic Overwrite Fund vs Vanguard Morningstar Total Stock Market ETF
Which is better, SPXX or VTI?
Multi Alternative against Large Cap Blend.
VTI has a lower expense ratio. SPXX led over 1Y, VTI over 3Y, 5Y and the full window. VTI is less concentrated, with 33.5% of the fund in its ten largest positions against 39.6%.
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 | SPXX | VTI |
|---|---|---|
| Expense Ratio | 0.91% | 0.03%Best |
| AUM | $2.8B | $689.2B |
| Dividend Yield | 7.40% | 1.06% |
| Holdings | 553 | 3,524 |
| YTD Return | +10.40% | +13.02%Best |
| 1Y Return | +18.86%Best | +16.63% |
| 3Y Return (annualized) | +17.05% | +21.97%Best |
| 5Y Return (annualized) | +9.18% | +11.99%Best |
| Volatility (annualized) | 15.9% | 15.5%Best |
| Max Drawdown | -60.0% | -56.6%Best |
| $10,000 over 5 years | $15,514 | $17,616Best |
| Top 10 Weight | 39.6% | 33.5%Best |
| Fund Family | Nuveen | Vanguard (US) |
| Category | Alternative | Equity |
| Style | Multi Alternative | Large Cap Blend |
| Inception | Nov 22, 2005 | May 24, 2001 |
Volatility and max drawdown are measured over the window both funds cover: Nov 23, 2005 to Oct 14, 2026 (20.9 years).
SPXX vs VTI 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 20.9 years both funds cover.
SPXX vs VTI Performance
Nuveen S&P 500 Dynamic Overwrite Fund (SPXX) is an ETF from Nuveen and Vanguard Morningstar Total Stock Market ETF (VTI) is an ETF from Vanguard (US). Over the past year SPXX returned +18.86% while VTI returned +16.63%. Year to date, SPXX is up 10.40% versus a gain of 13.02% for VTI.
Over three years, SPXX compounded at +17.05% per year against +21.97% for VTI; over five years the annualized figures are +9.18% and +11.99% respectively. Across the full 21-year window we track, VTI has the edge at +9.38% annualized vs +1.69%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPXX has been the more volatile fund, with annualized monthly volatility of 15.9% compared with 15.5% for VTI. 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 -60.0% for SPXX and -56.6% for VTI. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPXX charges 0.91% per year while VTI charges 0.03%. On a $10,000 position that is $91 vs $3 annually, a gap of $88 per year that compounds over a long holding period. On income, SPXX currently yields 7.40% against 1.06% for VTI.
Holdings Overlap
93.5% of SPXX's money is in holdings VTI also owns. 63.8% of VTI's money is in holdings SPXX also owns.
Most of SPXX is already inside VTI. Owning both mostly buys the same companies twice.
489 positions in common, counted across the 546 positions we hold weights for in SPXX and 3,441 in VTI, against full books of 553 and 3,524.
What only one of them owns
Our book lists 738 positions for VTI that do not appear in our book for SPXX (33.9% of the fund), and 20 for SPXX that do not appear in VTI (4.5%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in SPXX | Weight in VTI | Difference |
|---|---|---|---|
| NVDANvidia Corp | 7.65% | 6.88% | 0.77% |
| AAPLApple, Inc | 7.01% | 6.30% | 0.71% |
| MSFTMicrosoft Corp | 5.49% | 5.11% | 0.38% |
| AMZNAmazon.Com Inc | 4.25% | 3.41% | 0.84% |
| GOOGLAlphabet Inc | 3.13% | 2.70% | 0.43% |
| AVGOBroadcom Inc | 2.84% | 2.38% | 0.46% |
| GOOGAlphabet Inc. C | 2.47% | 2.12% | 0.35% |
| METAMeta Platforms Inc | 1.75% | 1.70% | 0.05% |
| JPMJpmorgan Chase | 1.93% | 1.29% | 0.64% |
| MUMicron Technology, Inc. | 1.53% | 1.46% | 0.07% |
93.5% of SPXX is already inside VTI.
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, SPXX or VTI?
SPXX has an expense ratio of 0.91% while VTI charges 0.03%. VTI is the cheaper option, by $88 a year on a $10,000 investment.
Which performed better, SPXX or VTI?
Over the past year SPXX returned +18.86% vs +16.63% for VTI, so SPXX leads on 1-year performance. Over the longest common window we track (21 years), SPXX annualized +1.69% vs +9.38% for VTI. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPXX or VTI?
SPXX has been the more volatile fund at 15.9% annualized versus 15.5% for VTI. Worst drawdown: SPXX -60.0% vs VTI -56.6%.
Should I hold both SPXX and VTI?
SPXX and VTI have a monthly-return correlation of 0.81, 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 SPXX and VTI?
93.5% of SPXX's money is in holdings VTI also owns. 63.8% of VTI's is in holdings SPXX also owns. They hold 489 positions in common, counted across the 546 positions we hold weights for in SPXX and 3,441 in VTI.
Which pays a higher dividend, SPXX or VTI?
SPXX yields 7.40% while VTI yields 1.06%, so SPXX currently pays the higher dividend yield.
Is VTI better than SPXX?
VTI has a lower expense ratio. SPXX led over 1Y, VTI over 3Y, 5Y and the full window. VTI is less concentrated, with 33.5% of the fund in its ten largest positions against 39.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.