AROW vs. SPY
Compare and contrast key facts about Arrow Financial Corporation (AROW) and State Street SPDR S&P 500 ETF (SPY).
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
AROW vs. SPY - Performance Comparison
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AROW vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AROW Arrow Financial Corporation | 7.82% | 13.95% | 7.15% | -10.78% | 2.33% | 24.98% | -15.58% | 25.41% | -0.08% | -11.10% |
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, AROW achieves a 7.82% return, which is significantly higher than SPY's -4.37% return. Over the past 10 years, AROW has underperformed SPY with an annualized return of 8.46%, while SPY has yielded a comparatively higher 13.98% annualized return.
AROW
- 1D
- 0.66%
- 1M
- 0.78%
- YTD
- 7.82%
- 6M
- 20.77%
- 1Y
- 32.78%
- 3Y*
- 16.58%
- 5Y*
- 5.66%
- 10Y*
- 8.46%
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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Return for Risk
AROW vs. SPY — Risk / Return Rank
AROW
SPY
AROW vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Arrow Financial Corporation (AROW) 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.
| AROW | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.15 | 0.93 | +0.23 |
Sortino ratioReturn per unit of downside risk | 1.76 | 1.45 | +0.30 |
Omega ratioGain probability vs. loss probability | 1.21 | 1.22 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | 2.46 | 1.53 | +0.94 |
Martin ratioReturn relative to average drawdown | 6.18 | 7.30 | -1.12 |
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
| AROW | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.15 | 0.93 | +0.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | 0.69 | -0.50 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.26 | 0.78 | -0.52 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 0.56 | -0.24 |
Correlation
The correlation between AROW and SPY is 0.37, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
AROW vs. SPY - Dividend Comparison
AROW's dividend yield for the trailing twelve months is around 3.46%, more than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AROW Arrow Financial Corporation | 3.46% | 3.63% | 3.80% | 3.78% | 3.12% | 2.89% | 3.40% | 2.69% | 3.12% | 2.88% | 2.42% | 3.63% |
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
AROW vs. SPY - Drawdown Comparison
The maximum AROW drawdown since its inception was -67.11%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for AROW and SPY.
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Drawdown Indicators
| AROW | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.11% | -55.19% | -11.92% |
Max Drawdown (1Y)Largest decline over 1 year | -12.58% | -12.05% | -0.53% |
Max Drawdown (5Y)Largest decline over 5 years | -50.54% | -24.50% | -26.04% |
Max Drawdown (10Y)Largest decline over 10 years | -50.54% | -33.72% | -16.82% |
Current DrawdownCurrent decline from peak | -6.08% | -6.24% | +0.16% |
Average DrawdownAverage peak-to-trough decline | -12.43% | -9.09% | -3.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.02% | 2.52% | +2.50% |
Volatility
AROW vs. SPY - Volatility Comparison
Arrow Financial Corporation (AROW) has a higher volatility of 6.31% compared to State Street SPDR S&P 500 ETF (SPY) at 5.31%. This indicates that AROW'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
| AROW | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.31% | 5.31% | +1.00% |
Volatility (6M)Calculated over the trailing 6-month period | 19.86% | 9.47% | +10.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.55% | 19.05% | +9.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.77% | 17.06% | +13.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.24% | 17.92% | +14.32% |