^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 0.91, 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:
0.48
SPY:
0.51
^PUT:
0.80
SPY:
0.86
^PUT:
1.16
SPY:
1.13
^PUT:
0.48
SPY:
0.55
^PUT:
2.29
SPY:
2.26
^PUT:
3.12%
SPY:
4.55%
^PUT:
14.70%
SPY:
20.08%
^PUT:
-28.93%
SPY:
-55.19%
^PUT:
-7.76%
SPY:
-9.89%
Returns By Period
In the year-to-date period, ^PUT achieves a -4.78% return, which is significantly higher than SPY's -5.76% return. Over the past 10 years, ^PUT has underperformed SPY with an annualized return of 6.89%, while SPY has yielded a comparatively higher 12.04% annualized return.
^PUT
-4.78%
-2.61%
-1.57%
7.35%
12.14%
6.89%
SPY
-5.76%
-2.90%
-4.30%
9.72%
15.64%
12.04%
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Risk-Adjusted Performance
^PUT vs. SPY — Risk-Adjusted Performance Rank
^PUT
SPY
^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 12.26%, while SPDR S&P 500 ETF (SPY) has a volatility of 15.12%. 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.