SPXX vs XYLD
Nuveen S&P 500 Dynamic Overwrite Fund vs Global X S&P 500 Covered Call ETF
Which is better, SPXX or XYLD?
SPXX has been ahead.
XYLD has a lower expense ratio. SPXX led over 1Y, 3Y, 5Y and the full window. SPXX is less concentrated, with 39.6% of the fund in its ten largest positions against 39.8%.
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 | XYLD |
|---|---|---|
| Expense Ratio | 0.91% | 0.60%Best |
| AUM | $2.8B | $3.4B |
| Dividend Yield | 7.40% | 10.44% |
| Holdings | 553 | 1,014 |
| YTD Return | +10.40% | +11.42%Best |
| 1Y Return | +18.86%Best | +18.43% |
| 3Y Return (annualized) | +17.05%Best | +13.38% |
| 5Y Return (annualized) | +9.18%Best | +7.59% |
| Volatility (annualized) | 15.9% | 11.1%Best |
| Max Drawdown | -51.1% | -34.7%Best |
| $10,000 over 5 years | $15,514Best | $14,416 |
| Top 10 Weight | 39.6%Best | 39.8% |
| Fund Family | Nuveen | Global X by mirae Asset |
| Category | Alternative | Alternative |
| Style | Multi Alternative | Multi Alternative |
| Inception | Nov 22, 2005 | Jun 21, 2013 |
Volatility and max drawdown are measured over the window both funds cover: Jun 24, 2013 to Oct 14, 2026 (13.3 years).
SPXX vs XYLD 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 13.3 years both funds cover.
SPXX vs XYLD Performance
Nuveen S&P 500 Dynamic Overwrite Fund (SPXX) is an ETF from Nuveen and Global X S&P 500 Covered Call ETF (XYLD) is an ETF from Global X by mirae Asset. Over the past year SPXX returned +18.86% while XYLD returned +18.43%. Year to date, SPXX is up 10.40% versus a gain of 11.42% for XYLD.
Over three years, SPXX compounded at +17.05% per year against +13.38% for XYLD; over five years the annualized figures are +9.18% and +7.59% respectively. Across the full 13-year window we track, SPXX has the edge at +5.89% annualized vs +5.08%.
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 11.1% for XYLD. 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 -51.1% for SPXX and -34.7% for XYLD. 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 XYLD charges 0.60%. On a $10,000 position that is $91 vs $60 annually, a gap of $31 per year that compounds over a long holding period. On income, SPXX currently yields 7.40% against 10.44% for XYLD.
Holdings Overlap
78.5% of SPXX's money is in holdings XYLD also owns. 67.8% of XYLD's money is in holdings SPXX also owns.
Most of SPXX is already inside XYLD. Owning both mostly buys the same companies twice.
The two holdings books were reported 63 days apart, SPXX as of Jul 31, 2026 and XYLD as of Oct 2, 2026, so some of the difference between them is the time between the two reports rather than the funds.
78 positions in common, counted across the 546 positions we hold weights for in SPXX and 496 in XYLD, against full books of 553 and 1,014.
What only one of them owns
Our book lists 414 positions for XYLD that do not appear in our book for SPXX (33.4% of the fund), and 340 for SPXX that do not appear in XYLD (18.9%).
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 XYLD | Difference |
|---|---|---|---|
| NVDANvidia Corp | 7.65% | 8.64% | 0.99% |
| AAPLApple, Inc | 7.01% | 7.44% | 0.43% |
| MSFTMicrosoft Corp | 5.49% | 5.87% | 0.38% |
| AMZNAmazon.Com Inc | 4.25% | 3.77% | 0.48% |
| GOOGLAlphabet Inc | 3.13% | 3.07% | 0.06% |
| AVGOBroadcom Inc | 2.84% | 2.58% | 0.26% |
| GOOGAlphabet Inc. C | 2.47% | 2.46% | 0.01% |
| METAMeta Platforms Inc | 1.75% | 2.46% | 0.71% |
| MUMicron Technology, Inc. | 1.53% | 1.86% | 0.33% |
| JPMJpmorgan Chase | 1.93% | 1.35% | 0.58% |
78.5% of SPXX is already inside XYLD.
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 XYLD?
SPXX has an expense ratio of 0.91% while XYLD charges 0.60%. XYLD is the cheaper option, by $31 a year on a $10,000 investment.
Which performed better, SPXX or XYLD?
Over the past year SPXX returned +18.86% vs +18.43% for XYLD, so SPXX leads on 1-year performance. Over the longest common window we track (13 years), SPXX annualized +5.89% vs +5.08% for XYLD. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPXX or XYLD?
SPXX has been the more volatile fund at 15.9% annualized versus 11.1% for XYLD. Worst drawdown: SPXX -51.1% vs XYLD -34.7%.
Should I hold both SPXX and XYLD?
SPXX and XYLD 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 XYLD?
78.5% of SPXX's money is in holdings XYLD also owns. 67.8% of XYLD's is in holdings SPXX also owns. They hold 78 positions in common, counted across the 546 positions we hold weights for in SPXX and 496 in XYLD.
Which pays a higher dividend, SPXX or XYLD?
SPXX yields 7.40% while XYLD yields 10.44%, so XYLD currently pays the higher dividend yield.
Is XYLD better than SPXX?
XYLD has a lower expense ratio. SPXX led over 1Y, 3Y, 5Y and the full window. SPXX is less concentrated, with 39.6% of the fund in its ten largest positions against 39.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.