ARGFX vs. SPY
Compare and contrast key facts about Ariel Fund (ARGFX) and State Street SPDR S&P 500 ETF (SPY).
ARGFX is managed by Ariel Investments. It was launched on Nov 6, 1986. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
ARGFX vs. SPY - Performance Comparison
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ARGFX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ARGFX Ariel Fund | -4.69% | 14.08% | 11.56% | 15.78% | -18.68% | 30.29% | 10.05% | 24.64% | -13.59% | 15.99% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, ARGFX achieves a -4.69% return, which is significantly lower than SPY's -4.37% return. Over the past 10 years, ARGFX has underperformed SPY with an annualized return of 8.99%, while SPY has yielded a comparatively higher 13.98% annualized return.
ARGFX
- 1D
- -0.45%
- 1M
- -12.05%
- YTD
- -4.69%
- 6M
- -1.68%
- 1Y
- 18.19%
- 3Y*
- 9.60%
- 5Y*
- 4.48%
- 10Y*
- 8.99%
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
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ARGFX vs. SPY - Expense Ratio Comparison
ARGFX has a 1.00% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
ARGFX vs. SPY — Risk / Return Rank
ARGFX
SPY
ARGFX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ariel Fund (ARGFX) 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.
| ARGFX | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.75 | 0.93 | -0.18 |
Sortino ratioReturn per unit of downside risk | 1.20 | 1.45 | -0.25 |
Omega ratioGain probability vs. loss probability | 1.16 | 1.22 | -0.06 |
Calmar ratioReturn relative to maximum drawdown | 1.01 | 1.53 | -0.51 |
Martin ratioReturn relative to average drawdown | 3.32 | 7.30 | -3.98 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ARGFX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.75 | 0.93 | -0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | 0.69 | -0.49 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.40 | 0.78 | -0.39 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.56 | -0.03 |
Correlation
The correlation between ARGFX and SPY is 0.77, 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.
Dividends
ARGFX vs. SPY - Dividend Comparison
ARGFX's dividend yield for the trailing twelve months is around 12.38%, more than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ARGFX Ariel Fund | 12.38% | 11.80% | 5.49% | 5.09% | 9.01% | 5.56% | 5.33% | 5.81% | 10.35% | 6.30% | 6.56% | 16.28% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
ARGFX vs. SPY - Drawdown Comparison
The maximum ARGFX drawdown since its inception was -71.02%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for ARGFX and SPY.
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Drawdown Indicators
| ARGFX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.02% | -55.19% | -15.83% |
Max Drawdown (1Y)Largest decline over 1 year | -15.50% | -12.05% | -3.45% |
Max Drawdown (5Y)Largest decline over 5 years | -33.00% | -24.50% | -8.50% |
Max Drawdown (10Y)Largest decline over 10 years | -45.29% | -33.72% | -11.57% |
Current DrawdownCurrent decline from peak | -12.36% | -6.24% | -6.12% |
Average DrawdownAverage peak-to-trough decline | -8.47% | -9.09% | +0.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.72% | 2.52% | +2.20% |
Volatility
ARGFX vs. SPY - Volatility Comparison
Ariel Fund (ARGFX) has a higher volatility of 6.00% compared to State Street SPDR S&P 500 ETF (SPY) at 5.31%. This indicates that ARGFX'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
| ARGFX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.00% | 5.31% | +0.69% |
Volatility (6M)Calculated over the trailing 6-month period | 13.80% | 9.47% | +4.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.52% | 19.05% | +5.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.29% | 17.06% | +5.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.74% | 17.92% | +4.82% |