NIE vs SPY
NIE vs SPY
Virtus Equity & Convertible Income Fund vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | NIE | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.07% | 0.09% | |
| AUM | $797M | $789.1B | |
| Dividend Yield | 8.66% | 1.01% | |
| Holdings | 196 | 505 | |
| YTD Return | +10.35% | +13.79% | |
| 1Y Return | +20.59% | +23.66% | |
| 3Y Return (annualized) | +17.95% | +21.40% | |
| 5Y Return (annualized) | +9.75% | +13.37% | |
| Volatility (annualized) | 17.6% | 15.3% | |
| Max Drawdown | -63.8% | -56.5% | |
| Fund Family | Virtus Investment Partners | State Street Investment Management | |
| Category | Allocation/Balanced | Equity | |
| Inception | Feb 27, 2007 | Jan 22, 1993 |
NIE vs SPY Performance
Virtus Equity & Convertible Income Fund (NIE) is a ETF from Virtus Investment Partners and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year NIE returned +20.59% while SPY returned +23.66%. Year to date, NIE is up 10.35% versus a gain of 13.79% for SPY.
Over three years, NIE compounded at +17.95% per year against +21.40% for SPY; over five years the annualized figures are +9.75% and +13.37% respectively. Across the full 20-year window we track, SPY has the edge at +8.85% annualized vs +3.61%. 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 15.3% 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 worth weighing if you expect to sell during market stress rather than ride it out.
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 8.66% against 1.01% for SPY.
Holdings Overlap
NIE and SPY share 90 holdings out of 574 unique holdings combined, representing a 44.9% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in NIE | Weight in SPY | Difference |
|---|---|---|---|
| NVDA | 5.65% | 7.31% | 1.66% |
| AAPL | 4.55% | 7.09% | 2.54% |
| MSFT | 3.16% | 4.43% | 1.27% |
| GOOGL | Pro | Pro | Pro |
| AMZN | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| MU | Pro | Pro | Pro |
| TSLA | Pro | Pro | Pro |
See all 10 holdings NIE shares with SPY Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
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. On a $10,000 investment, that is $98 per year of difference.
Which performed better, NIE or SPY?
Over the past year NIE returned +20.59% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (20 years), NIE annualized +3.61% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, NIE or SPY?
NIE has been the more volatile fund at 17.6% annualized versus 15.3% 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 combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NIE and SPY?
NIE and SPY share 90 common holdings with a 44.9% weight overlap. Combined, they hold 574 unique securities.
Which pays a higher dividend, NIE or SPY?
NIE yields 8.66% while SPY yields 1.01%, so NIE currently pays the higher dividend yield.
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