^SP400 vs. SPY

In the year-to-date period, ^SP400 achieves a 1.65% return, which is significantly lower than SPY's 7.04% return. Over the past 10 years, ^SP400 has underperformed SPY with an annualized return of 7.61%, while SPY has yielded a comparatively higher 13.38% annualized return.

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This table presents a comparison of risk-adjusted performance metrics for S&P 400 Index (^SP400) 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.

The current ^SP400 Sharpe Ratio is 0.27, which is lower than the SPY Sharpe Ratio of 0.66. The chart below compares the historical Sharpe Ratios of ^SP400 and SPY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

The correlation between ^SP400 and SPY is 0.87, 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.

The maximum ^SP400 drawdown since its inception was -56.32%, roughly equal to the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for ^SP400 and SPY.

S&P 400 Index (^SP400) has a higher volatility of 3.74% compared to SPDR S&P 500 ETF (SPY) at 2.85%. This indicates that ^SP400's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.