^W1DOW vs. ^GSPC

Last updated Jun 3, 2026

^W1DOW (Dow Jones Global Index) and ^GSPC (S&P 500 Index) are both indexes. Over the past 10 years, ^W1DOW returned 10.56%/yr vs 13.75%/yr for ^GSPC. Their correlation of 0.83 suggests significant overlap in exposure.

Performance

^W1DOW vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dow Jones Global Index (^W1DOW) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ^W1DOW achieves a 12.05% return, which is significantly higher than ^GSPC's 11.16% return. Over the past 10 years, ^W1DOW has underperformed ^GSPC with an annualized return of 10.56%, while ^GSPC has yielded a comparatively higher 13.75% annualized return.

^W1DOW

• 1D: 0.38%
• 1M: 5.06%
• YTD: 12.05%
• 6M: 13.39%
• 1Y: 28.56%
• 3Y*: 19.28%
• 5Y*: 9.30%
• 10Y*: 10.56%

^GSPC

• 1D: 0.13%
• 1M: 5.25%
• YTD: 11.16%
• 6M: 11.43%
• 1Y: 28.20%
• 3Y*: 21.12%
• 5Y*: 12.66%
• 10Y*: 13.75%

*Multi-year figures are annualized to reflect compound growth (CAGR)

^W1DOW vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
^W1DOW Dow Jones Global Index	12.05%	20.33%	14.87%	19.32%	-19.86%	16.24%	14.08%	23.71%	-11.68%	21.83%
^GSPC S&P 500 Index	11.16%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Correlation

The correlation between ^W1DOW and ^GSPC is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Oct 29, 1998	0.83

The correlation between ^W1DOW and ^GSPC has been stable across timeframes, ranging from 0.83 to 0.91 - a consistent structural relationship.

Return for Risk

^W1DOW vs. ^GSPC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

^W1DOW

^W1DOW Risk / Return Rank: 82
^W1DOW Sharpe Ratio Rank: 84
^W1DOW Sortino Ratio Rank: 90
^W1DOW Omega Ratio Rank: 92
^W1DOW Calmar Ratio Rank: 67
^W1DOW Martin Ratio Rank: 79

^GSPC

^GSPC Risk / Return Rank: 79
^GSPC Sharpe Ratio Rank: 76
^GSPC Sortino Ratio Rank: 76
^GSPC Omega Ratio Rank: 77
^GSPC Calmar Ratio Rank: 79
^GSPC Martin Ratio Rank: 88

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

^W1DOW vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dow Jones Global Index (^W1DOW) and S&P 500 Index (^GSPC). 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.

	^W1DOW	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	2.63	2.39	+0.24
Sortino ratio Return per unit of downside risk	3.73	3.25	+0.48
Omega ratio Gain probability vs. loss probability	1.51	1.43	+0.08
Calmar ratio Return relative to maximum drawdown	2.90	3.16	-0.26
Martin ratio Return relative to average drawdown	12.64	14.61	-1.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

^W1DOW vs. ^GSPC - Sharpe Ratio Comparison

The current ^W1DOW Sharpe Ratio is 2.63, which is comparable to the ^GSPC Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of ^W1DOW and ^GSPC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	^W1DOW	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.63	2.39	+0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.67	0.75	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	0.76	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.47	-0.12

Drawdowns

^W1DOW vs. ^GSPC - Drawdown Comparison

The maximum ^W1DOW drawdown since its inception was -59.33%, roughly equal to the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for ^W1DOW and ^GSPC.

Drawdown Indicators

	^W1DOW	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-59.33%	-56.78%	-2.55%
Max Drawdown (1Y) Largest decline over 1 year	-9.48%	-9.10%	-0.38%
Max Drawdown (3Y) Largest decline over 3 years	-16.16%	-18.90%	+2.74%
Max Drawdown (5Y) Largest decline over 5 years	-27.87%	-25.43%	-2.44%
Max Drawdown (10Y) Largest decline over 10 years	-34.28%	-33.92%	-0.36%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-13.72%	-10.72%	-3.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.18%	1.97%	+0.21%

Volatility

^W1DOW vs. ^GSPC - Volatility Comparison

Dow Jones Global Index (^W1DOW) and S&P 500 Index (^GSPC) have volatilities of 2.89% and 2.84%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	^W1DOW	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.89%	2.84%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	8.29%	8.98%	-0.69%
Volatility (1Y) Calculated over the trailing 1-year period	10.32%	11.87%	-1.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.34%	16.90%	-3.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.62%	18.07%	-4.45%

Frequently Asked Questions

Can I hold both ^W1DOW and ^GSPC in my portfolio?

^W1DOW and ^GSPC have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ^W1DOW or ^GSPC?

^W1DOW has higher volatility (2.89%) compared to ^GSPC (2.84%). In terms of maximum drawdown, ^W1DOW dropped -59.33% vs ^GSPC's -56.78%.

Which has better risk-adjusted returns?

^W1DOW currently has the higher Sharpe Ratio (2.63 vs 2.39), 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.