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ABEV vs. SPY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ABEV vs. SPY

Last updated Jun 5, 2026

ABEV (Ambev S.A.) is a stock, while SPY (State Street SPDR S&P 500 ETF) is S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, ABEV returned -1.50%/yr vs 15.48%/yr for SPY. At a 0.33 correlation, their price movements are largely independent.

Performance

ABEV vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ambev S.A. (ABEV) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ABEV achieves a 25.91% return, which is significantly higher than SPY's 11.33% return. Over the past 10 years, ABEV has underperformed SPY with an annualized return of -1.50%, while SPY has yielded a comparatively higher 15.48% annualized return.

ABEV

1D
-0.96%
1M
-7.72%
YTD
25.91%
6M
27.35%
1Y
34.39%
3Y*
9.35%
5Y*
1.29%
10Y*
-1.50%

SPY

1D
0.38%
1M
4.60%
YTD
11.33%
6M
11.25%
1Y
28.50%
3Y*
22.58%
5Y*
13.91%
10Y*
15.48%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ABEV vs. SPY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ABEV
Ambev S.A.		25.91%45.11%-30.10%8.41%2.38%-4.39%-32.61%21.92%-37.29%35.34%
SPY
State Street SPDR S&P 500 ETF		11.33%17.72%24.89%26.18%-18.18%28.73%18.33%31.22%-4.57%21.71%

Correlation

The correlation between ABEV and SPY is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.24

Correlation (3Y)
Calculated over the trailing 3-year period

0.26

Correlation (5Y)
Calculated over the trailing 5-year period

0.29

Correlation (10Y)
Calculated over the trailing 10-year period

0.33

Correlation (All Time)
Calculated using the full available price history since Mar 6, 1997

0.33

Compare stocks, funds, or ETFs

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Ambev S.A.

State Street SPDR S&P 500 ETF

Often compared with ABEV:
ABEV vs. BUDABEV vs. BTBTABEV vs. DGE.LABEV vs. DEOABEV vs. PGABEV vs. PMABEV vs. KO
Often compared with SPY:
SPY vs. QQQSPY vs. VOOSPY vs. BRK-BSPY vs. RSPSPY vs. VTISPY vs. SCHDSPY vs. GLD

Return for Risk

ABEV vs. SPY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ABEV
ABEV Risk / Return Rank: 7474
Overall Rank
ABEV Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
ABEV Sortino Ratio Rank: 7272
Sortino Ratio Rank
ABEV Omega Ratio Rank: 7070
Omega Ratio Rank
ABEV Calmar Ratio Rank: 7676
Calmar Ratio Rank
ABEV Martin Ratio Rank: 7676
Martin Ratio Rank
SPY
SPY Risk / Return Rank: 7474
Overall Rank
SPY Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
SPY Sortino Ratio Rank: 7474
Sortino Ratio Rank
SPY Omega Ratio Rank: 7575
Omega Ratio Rank
SPY Calmar Ratio Rank: 6666
Calmar Ratio Rank
SPY Martin Ratio Rank: 7878
Martin Ratio Rank
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.

ABEV vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ambev S.A. (ABEV) and State Street 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.

ABEVSPYDifference
Sharpe ratioReturn per unit of total volatility
1.10
2.42

-1.32

Sortino ratioReturn per unit of downside risk
1.84
3.29

-1.45

Omega ratioGain probability vs. loss probability

1.22

1.44

-0.22

Calmar ratioReturn relative to maximum drawdown

2.15

3.22

-1.08

Martin ratioReturn relative to average drawdown

4.86

14.99

-10.13

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ABEV vs. SPY - Sharpe Ratio Comparison

The current ABEV Sharpe Ratio is 1.10, which is lower than the SPY Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of ABEV and SPY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

ABEVSPYDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.10

2.42

-1.32

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.04

0.82

-0.78

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.04

0.87

-0.91

Sharpe Ratio (All Time)

Calculated using the full available price history

0.27

0.59

-0.32

Drawdowns

ABEV vs. SPY - Drawdown Comparison

The maximum ABEV drawdown since its inception was -74.04%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for ABEV and SPY.

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Drawdown Indicators

ABEVSPYDifference

Max Drawdown

Largest peak-to-trough decline

-74.04%

-55.19%

-18.85%

Max Drawdown (1Y)

Largest decline over 1 year

-16.10%

-8.88%

-7.22%

Max Drawdown (3Y)

Largest decline over 3 years

-38.76%

-18.76%

-20.00%

Max Drawdown (5Y)

Largest decline over 5 years

-44.58%

-24.50%

-20.08%

Max Drawdown (10Y)

Largest decline over 10 years

-72.26%

-33.72%

-38.54%

Current Drawdown

Current decline from peak

-43.05%

-0.33%

-42.72%

Average Drawdown

Average peak-to-trough decline

-31.84%

-9.05%

-22.79%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.09%

1.91%

+5.18%

Volatility

ABEV vs. SPY - Volatility Comparison

Ambev S.A. (ABEV) has a higher volatility of 9.16% compared to State Street SPDR S&P 500 ETF (SPY) at 2.79%. This indicates that ABEV'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.

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Volatility by Period

ABEVSPYDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.16%

2.79%

+6.37%

Volatility (6M)

Calculated over the trailing 6-month period

25.56%

8.91%

+16.65%

Volatility (1Y)

Calculated over the trailing 1-year period

31.45%

11.82%

+19.63%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

30.30%

17.05%

+13.25%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

34.31%

17.93%

+16.38%

Dividends

ABEV vs. SPY - Dividend Comparison

ABEV's dividend yield for the trailing twelve months is around 5.02%, more than SPY's 0.98% yield.

PositionTTM20252024202320222021202020192018201720162015
ABEV
Ambev S.A.		5.02%8.10%6.10%5.26%5.36%4.38%2.67%2.51%3.79%2.57%3.41%4.32%
SPY
State Street SPDR S&P 500 ETF		0.98%1.07%1.21%1.40%1.65%1.20%1.52%1.75%2.04%1.80%2.03%2.06%

Frequently Asked Questions

ABEV and SPY have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

ABEV has higher volatility (9.16%) compared to SPY (2.79%). In terms of maximum drawdown, ABEV dropped -74.04% vs SPY's -55.19%.

SPY currently has the higher Sharpe Ratio (2.42 vs 1.10), 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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