^SP600 vs. GAUG
^SP600 (S&P 600) is an index, while GAUG (FT Cboe Vest U.S. Equity Moderate Buffer ETF - August) is Options Trading fund tracking the S&P 500. Over the past year, ^SP600 returned 33.67% vs 11.85% for GAUG. Their 0.69 correlation means they have sometimes moved together and sometimes differently.
Performance
^SP600 vs. GAUG - Performance Comparison
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Returns By Period
In the year-to-date period, ^SP600 achieves a 20.49% return, which is significantly higher than GAUG's 6.41% return.
^SP600
- 1D
- -0.09%
- 1M
- -0.75%
- 6M
- 14.16%
- YTD
- 20.49%
- 1Y
- 33.67%
- 3Y*
- 11.49%
- 5Y*
- 5.69%
- 10Y*
- 9.21%
- ALL TIME*
- 9.53%
GAUG
- 1D
- 0.25%
- 1M
- 0.88%
- 6M
- 5.60%
- YTD
- 6.41%
- 1Y
- 11.85%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 12.17%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
^SP600 S&P 600 | $181.92B | $87.47B | $30.78B |
| $437.85K | $408.31K | $567.67K |
^SP600 vs. GAUG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
^SP600 S&P 600 | 20.49% | 4.23% | 6.82% | 9.73% |
GAUG FT Cboe Vest U.S. Equity Moderate Buffer ETF - August | 6.41% | 11.28% | 11.78% | 5.94% |
Correlation
The correlation between ^SP600 and GAUG is 0.68, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.68 |
Correlation (All Time) Calculated using the full available price history since Aug 21, 2023 | 0.69 |
The correlation between ^SP600 and GAUG has been stable across timeframes, ranging from 0.68 to 0.69 - a consistent structural relationship.
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Return for Risk
^SP600 vs. GAUG — Risk / Return Rank
^SP600
GAUG
^SP600 vs. GAUG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for S&P 600 (^SP600) and FT Cboe Vest U.S. Equity Moderate Buffer ETF - August (GAUG). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ^SP600 | GAUG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.40 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.54 | 2.83 | +0.70 |
| Martin ratioReturn relative to average drawdown | 12.09 | 14.70 | -2.62 |
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Drawdowns
^SP600 vs. GAUG - Drawdown Comparison
The maximum ^SP600 drawdown since its inception was -59.17%, which is greater than GAUG's maximum drawdown of -10.08%. Use the drawdown chart below to compare losses from any high point for ^SP600 and GAUG.
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Drawdown Indicators
| ^SP600 | GAUG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.17% | -10.08% | -49.09% |
Max Drawdown (1Y)Largest decline over 1 year | -8.94% | -4.01% | -4.93% |
Max Drawdown (3Y)Largest decline over 3 years | -28.39% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -28.39% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -45.77% | — | — |
Current DrawdownCurrent decline from peak | -1.98% | 0.00% | -1.98% |
Average DrawdownAverage peak-to-trough decline | -9.24% | -0.70% | -8.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.61% | 0.77% | +1.84% |
Volatility
^SP600 vs. GAUG - Volatility Comparison
S&P 600 (^SP600) has a higher volatility of 3.43% compared to FT Cboe Vest U.S. Equity Moderate Buffer ETF - August (GAUG) at 1.00%. This indicates that ^SP600's price experiences larger fluctuations and is considered to be riskier than GAUG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^SP600 | GAUG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.43% | 1.00% | +2.43% |
Volatility (6M)Calculated over the trailing 6-month period | 11.67% | 4.29% | +7.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.40% | 5.58% | +11.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.31% | 7.38% | +13.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.14% | 7.38% | +15.76% |
Frequently Asked Questions
^SP600 and GAUG have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
^SP600 has higher volatility (3.43%) compared to GAUG (1.00%). In terms of maximum drawdown, ^SP600 dropped -59.17% vs GAUG's -10.08%.
GAUG currently has the higher Sharpe Ratio (2.03 vs 1.82), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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