AIZ vs. SPY

Last updated Jun 23, 2026

AIZ (Assurant, Inc.) 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, AIZ returned 14.33%/yr vs 15.70%/yr for SPY. A 0.51 correlation means they provide meaningful diversification when combined.

Performance

AIZ vs. SPY - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with AIZ having a 9.42% return and SPY slightly higher at 9.74%. Over the past 10 years, AIZ has underperformed SPY with an annualized return of 14.33%, while SPY has yielded a comparatively higher 15.70% annualized return.

AIZ

• 1D: 0.66%
• 1M: 3.01%
• YTD: 9.42%
• 6M: 9.12%
• 1Y: 35.38%
• 3Y*: 30.38%
• 5Y*: 12.93%
• 10Y*: 14.33%

SPY

• 1D: -0.31%
• 1M: 0.09%
• YTD: 9.74%
• 6M: 9.27%
• 1Y: 26.65%
• 3Y*: 21.27%
• 5Y*: 13.51%
• 10Y*: 15.70%

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

AIZ vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AIZ Assurant, Inc.	9.42%	14.69%	28.55%	37.52%	-18.34%	16.46%	6.09%	49.78%	-9.18%	10.98%
SPY State Street SPDR S&P 500 ETF	9.74%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Correlation

The correlation between AIZ and SPY is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (10Y) Calculated over the trailing 10-year period	0.43
Correlation (All Time) Calculated using the full available price history since Feb 5, 2004	0.51

Over the past year, the correlation between AIZ and SPY has dropped to 0.18 - well below their long-term average of 0.51, suggesting their price drivers have been diverging.

Return for Risk

AIZ vs. SPY — Risk / Return Rank

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

AIZ

AIZ Risk / Return Rank: 81
AIZ Sharpe Ratio Rank: 81
AIZ Sortino Ratio Rank: 77
AIZ Omega Ratio Rank: 80
AIZ Calmar Ratio Rank: 82
AIZ Martin Ratio Rank: 83

SPY

SPY Risk / Return Rank: 68
SPY Sharpe Ratio Rank: 69
SPY Sortino Ratio Rank: 66
SPY Omega Ratio Rank: 68
SPY Calmar Ratio Rank: 63
SPY Martin Ratio Rank: 74

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.

AIZ vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Assurant, Inc. (AIZ) 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.

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.

	AIZ	SPY	Difference
Sharpe ratio: Return per unit of total volatility	1.45	2.16	-0.70
Sortino ratio: Return per unit of downside risk	2.07	2.91	-0.84
Omega ratio: Gain probability vs. loss probability	1.30	1.39	-0.10
Calmar ratio: Return relative to maximum drawdown	2.83	3.01	-0.19
Martin ratio: Return relative to average drawdown	7.30	13.54	-6.24

AIZ vs. SPY - Sharpe Ratio Comparison

The current AIZ Sharpe Ratio is 1.45, which is lower than the SPY Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of AIZ 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.

Drawdowns

AIZ vs. SPY - Drawdown Comparison

The maximum AIZ drawdown since its inception was -81.62%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for AIZ and SPY.

Drawdown Indicators

	AIZ	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-81.62%	-55.19%	-26.43%
Max Drawdown (1Y) Largest decline over 1 year	-12.57%	-8.88%	-3.69%
Max Drawdown (3Y) Largest decline over 3 years	-20.83%	-18.76%	-2.07%
Max Drawdown (5Y) Largest decline over 5 years	-44.63%	-24.50%	-20.13%
Max Drawdown (10Y) Largest decline over 10 years	-44.63%	-33.72%	-10.91%
Current Drawdown Current decline from peak	-0.21%	-1.75%	+1.54%
Average Drawdown Average peak-to-trough decline	-16.09%	-9.04%	-7.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.86%	1.97%	+2.89%

Volatility

AIZ vs. SPY - Volatility Comparison

Assurant, Inc. (AIZ) has a higher volatility of 5.20% compared to State Street SPDR S&P 500 ETF (SPY) at 4.64%. This indicates that AIZ'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.

Volatility by Period

	AIZ	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.20%	4.64%	+0.56%
Volatility (6M) Calculated over the trailing 6-month period	16.97%	9.75%	+7.22%
Volatility (1Y) Calculated over the trailing 1-year period	24.51%	12.43%	+12.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.04%	17.14%	+7.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.92%	17.99%	+8.93%

Dividends

AIZ vs. SPY - Dividend Comparison

AIZ's dividend yield for the trailing twelve months is around 1.32%, more than SPY's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIZ Assurant, Inc.	1.32%	1.36%	1.39%	1.67%	2.19%	1.71%	1.87%	1.85%	2.55%	2.13%	2.19%	1.70%
SPY State Street SPDR S&P 500 ETF	1.01%	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

Can I hold both AIZ and SPY in my portfolio?

AIZ and SPY have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AIZ or SPY?

AIZ has higher volatility (5.20%) compared to SPY (4.64%). In terms of maximum drawdown, AIZ dropped -81.62% vs SPY's -55.19%.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (2.16 vs 1.45), 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.