^PUT vs. SPY
Compare and contrast key facts about CBOE S&P 500 PutWrite Index (^PUT) and SPDR S&P 500 ETF (SPY).
SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ^PUT or SPY.
Correlation
The correlation between ^PUT and SPY is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
^PUT vs. SPY - Performance Comparison
Key characteristics
^PUT:
2.81
SPY:
2.01
^PUT:
3.87
SPY:
2.70
^PUT:
1.81
SPY:
1.37
^PUT:
3.69
SPY:
3.01
^PUT:
23.21
SPY:
13.11
^PUT:
0.79%
SPY:
1.93%
^PUT:
6.48%
SPY:
12.56%
^PUT:
-28.93%
SPY:
-55.19%
^PUT:
-0.73%
SPY:
-3.49%
Returns By Period
Over the past 10 years, ^PUT has underperformed SPY with an annualized return of 7.82%, while SPY has yielded a comparatively higher 13.21% annualized return.
^PUT
0.00%
-0.24%
8.88%
18.33%
9.10%
7.82%
SPY
-0.25%
-2.87%
6.70%
26.31%
14.40%
13.21%
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Risk-Adjusted Performance
^PUT vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for CBOE S&P 500 PutWrite Index (^PUT) and SPDR S&P 500 ETF (SPY). 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.
Drawdowns
^PUT vs. SPY - Drawdown Comparison
The maximum ^PUT drawdown since its inception was -28.93%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for ^PUT and SPY. For additional features, visit the drawdowns tool.
Volatility
^PUT vs. SPY - Volatility Comparison
The current volatility for CBOE S&P 500 PutWrite Index (^PUT) is 1.26%, while SPDR S&P 500 ETF (SPY) has a volatility of 4.15%. This indicates that ^PUT experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.